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200507874
<br />ARTICLE IV: IMPOSITIONS
<br />Section 4.01. Pay_mcnt of Impositions. Utilities, and Taxes, etc. (a) Borrower shall pay or cause to be paid
<br />all Impositions at least five (5) days prior to the date upon which any fine, penalty, interest or cost for nonpayment is
<br />imposed, and furnish to Lender receipted bills of the appropriate taxing authority or other documentation reasonably
<br />satisfactory to Lender evidencing the payment thereof. If Borrower shall fail to pay any Imposition in accordance
<br />with this Section and is not contesting or causing a contesting of such Imposition in accordance with Section 4.04
<br />hereof, or if there are insufficient funds in the Basic Carrying Costs Sub - Account to pay any Imposition, Lender
<br />shall have the right, but shall not be obligated, to pay that Imposition, and Borrower shall repay to Lender, on
<br />demand, any amount paid by Lender, with interest thereon at the Default Rate from the date of the advance thereof
<br />to the date of repayment, and such amount shall constitute a portion of the Debt secured by this Security Instrument
<br />and the other Cross - collateralized Mortgages.
<br />(b) Borrower shall, prior to the date upon which any fine, penalty, interest or cost for the nonpayment
<br />is imposed, pay or cause to be paid all charges for electricity, power, gas, water and other services and utilities in
<br />connection with the Property, and shall, upon request, deliver to Lender receipts or other documentation
<br />reasonably satisfactory to Lender evidencing payment thereof. If Borrower shall fail to pay any amount required
<br />to be paid by Borrower pursuant to this Section 4.01 and is not contesting such charges in accordance with Section
<br />4.04 hereof, Lender shall have the right, but shall not be obligated, to pay that amount, and Borrower will repay to
<br />Lender, on demand, any amount paid by Lender with interest thereon at the Default Rate from the date of the
<br />advance thereof to the date of repayment, and such amount shall constitute a portion of the Debt secured by this
<br />Security Instrument and the other Cross - collateralized Mortgages.
<br />(c) Borrower shall pay all taxes, charges, filing, registration and recording fees, excises and levies
<br />imposed upon Lender by reason of or in connection with its ownership of any Loan Document or any other
<br />instrument related thereto, or resulting from the execution, delivery and recording of, or the lien created by, or the
<br />obligation evidenced by, any of them, other than income, franchise and other similar taxes imposed on Lender and
<br />shall pay all corporate stamp taxes, if any, and other taxes, required to be paid on the Loan Documents. If
<br />Borrower shall fail to make any such payment within ten (10) days after written notice thereof from Lender,
<br />Lender shall have the right, but shall not be obligated, to pay the amount due, and Borrower shall reimburse
<br />Lender therefor, on demand, with interest thereon at the Default Rate from the date of the advance thereof to the
<br />date of repayment, and such amount shall constitute a portion of the Debt secured by this Security Instrument and
<br />the other Cross - collateralized Mortgages.
<br />Section 4.02. Deduction from Value. In the event of the passage after the date of this Security Instrument
<br />of any Legal Requirement deducting from the value of the Property for the purpose of taxation, any lien thereon or
<br />changing in any way the Legal Requirements now in force for the taxation of this Security Instrument, the other
<br />Cross - collateralized Mortgages and/or the Debt for federal, state or local purposes, or the manner of the operation of
<br />any such taxes so as to adversely affect the interest of Lender, or imposing any tax or other charge on any Loan
<br />Document, then Borrower will pay such tax, with interest and penalties thereon, if any, within the statutory period.
<br />In the event the payment of such tax or interest and penalties by Borrower would be unlawful, or taxable to Lender
<br />or unenforceable or provide the basis for a defense of usury, then in any such event, Lender shall have the option, by
<br />written notice of not less than ninety (90) days, to declare the Debt immediately due and payable, with no
<br />prepayment fee or charge of any kind.
<br />Section 4.03. No Joint Assessment. Borrower shall not consent to or initiate the joint assessment of the
<br />Premises or the Improvements (a) with any other real property constituting a separate tax lot and Borrower
<br />represents and covenants that the Premises and the Improvements are and shall remain a separate tax lot or (b) with
<br />any portion of the Property which may be deemed to constitute personal property, or any other procedure whereby
<br />the lien of any taxes which may be levied against such personal property shall be assessed or levied or charged to the
<br />Property as a single lien.
<br />Section 4.04. Right to Contest. Borrower shall have the right, after prior notice to Lender, at its sole
<br />expense, to contest by appropriate legal proceedings diligently conducted in good faith, without cost or expense to
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