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200603196 <br />instrument of further assurance, and any modification or amendment of the foregoing documents, <br />except where prohibited by law so to do. <br />Section 5.2 Further „Acts, etc. Borrower will, at the cost of Borrower, and <br />without expense to Lender, do, execute, acknowledge and deliver all further acts, deeds, <br />conveyances, deeds of trust, mortgages, assignments, notices of assignments, transfers and <br />assurances as Lender shall, from time to time, reasonably require, for the better assuring, <br />conveying, assigning, transferring, and confirming unto Lender the property and rights hereby <br />mortgaged, deeded, granted, bargained, sold, conveyed, confirmed, pledged, assigned, warranted <br />and transferred or intended now or hereafter so to be, or which Borrower may be or may <br />hereafter become bound to convey or assign to Lender, or for carrying out the intention or <br />facilitating the performance of the terms of this Security Instrument or for filing, registering or <br />recording this Security Instrument, or for complying with all Legal Requirements. Borrower, on <br />demand, will execute and deliver, and in the event it shall fail to so execute and deliver, hereby <br />authorizes Lender to execute in the name of Borrower or without the signature of Borrower to <br />the extent Lender may lawfully do so, one or more financing statements to evidence more <br />effectively the security interest of Lender in the Property. Upon the occurrence and during the <br />continuance of an Event of Default, Borrower hereby grants to Lender an irrevocable power of <br />attorney coupled with an interest for the purpose of exercising and perfecting any and all rights <br />and remedies available to Lender at law and in equity, including, without limitation, such rights <br />and remedies available to Lender pursuant to this Section 5.2. <br />Section 5.3 Changes in Tax Debt Credit and Documentary Stamp Laws. <br />(a) If any law is enacted or adopted or amended after the date of this Security Instrument which <br />deducts the Debt from the value of the Property for the purpose of taxation or which imposes a <br />tax, either directly or indirectly, on the Debt or Lender's interest in the Property, Borrower will <br />pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by <br />it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable <br />or provide the basis for a defense of usury then Lender shall have the option by written notice of <br />not less than one hundred twenty (120) days to declare the Debt immediately due and payable, <br />without prepayment penalty. <br />(b) Borrower will not claim or demand or be entitled to any credit or credits <br />on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, <br />or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value <br />of the Property, or any part thereof, for real estate tax purposes by reason of this Security <br />Instrument or the Debt. If such claim, credit or deduction shall be required by law, Lender shall <br />have the option, by written notice of not less than one hundred twenty (120) days, to declare the <br />Debt immediately due and payable, without prepayment penalty. <br />(c) If at any time the United States of America, any State thereof or any <br />subdivision of any such State shall require revenue or other stamps to be affixed to the Note, this <br />Security Instrument, or any of the other Loan Documents or impose any other tax or charge on <br />the same, Borrower will pay for the same, with interest and penalties thereon, if any. <br />Section 5.4 Severin2 of Security Instrument. This Security Instrument and <br />the Note shall, at any time until the same shall be fully paid and satisfied, at the sole election of <br />NYL1134 7537763 -11- <br />