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200210067
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Last modified
10/15/2011 6:01:47 AM
Creation date
10/22/2005 9:45:40 PM
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DEEDS
Inst Number
200210067
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200210067 <br />(i) Grantor will pay and discharge from time to time, before the same <br />become delinquent, all taxes of every kind and nature, all general and special <br />assessments, levies, permits, inspection and license fees, all water and sewer <br />rents, all vault charges, and all other public charges, and all service charges, <br />common area charges, private maintenance charges, utility charges and all other <br />private charges, whether of a like or different nature, imposed upon or assessed <br />against the Premises or any part thereof or upon the Rents from the Premises or <br />arising in respect of the occupancy, use or possession thereof. <br />(ii) In the event of the passage of any state, federal, municipal or other <br />governmental law, order, rule or regulation subsequent to the date bereof (x) <br />deducting from the value of real property for the purpose of taxation any Lien or <br />encumbrance thereon or in any manner changing or modifying the laws now in <br />force governing the taxation of this Deed of Trust or debts secured by deeds of <br />trusts (other than laws governing income, franchise and similar taxes generally) or <br />the manner of collecting taxes thereon and (y) imposing a tax to be paid by <br />Trustee or Beneficiary, either directly or indirectly, on this Deed of Trust or any <br />of the Loan Documents or to require an amount of taxes to be withheld or <br />deducted therefrom, Grantor will promptly notify Beneficiary, upon obtaining <br />knowledge of such event. In such event Grantor shall to the extent allowed by <br />applicable law (A) agree to enter into such further instruments as may be <br />reasonably necessary or desirable to obligate Grantor to make any applicable <br />additional payments, and (B) Grantor shall make such additional payments. <br />(iii) Grantor shall, at its expense, maintain this Deed of Trust as a first <br />priority Lien on the Premises subject only to Liens permitted under Section 8.2 of <br />the Credit Agreement ( "Permitted Liens ") and shall keep the Premises free and <br />clear of all Liens of any kind and nature other than Permitted Liens. Grantor <br />shall, prior to the date when any enforcement right would accrue to the lienor at <br />issue promptly discharge of record, by payment, bonding or otherwise, any Liens <br />other than Permitted Liens and, promptly upon request by Beneficiary, (x) deliver <br />to Beneficiary evidence reasonably satisfactory to Beneficiary of the discharge <br />thereof or (y) furnish (A) a bond satisfactory to Beneficiary in the amount of the <br />claim out of which the Lien arises, (B) a cash deposit in the amount of the claim <br />out of which the Lien arises, or (C) other security reasonably satisfactory to <br />Beneficiary in an amount sufficient to discharge the claim out of which the Lien <br />arises. <br />(iv) If Grantor fails to comply with the requirements of clause <br />(iii) of this Section, then, upon ten (10) Business Days' prior notice to Grantor, <br />Beneficiary may, but shall not be obligated to, pay any such Lien, and Grantor <br />shall, within ten (10) Business Days after Beneficiary's demand therefor, <br />reimburse Beneficiary for all sums so expended, together with interest thereon at <br />the Applicable Rate from the date advanced, all of which shall be deemed part of <br />the Secured Obligations. <br />NY2tl1178150\ T92pN'L \95899 W79 <br />
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