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200806505
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Last modified
7/29/2008 4:49:25 PM
Creation date
7/29/2008 4:49:21 PM
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DEEDS
Inst Number
200806505
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<br />200806505 <br /> <br />persons (and/or funds in respect of consideration paid in violation of applicable contracts or Laws), and <br />Administrative Agent shall have the right to defend against any such claims or actions, employing <br />attorneys of its own selection. In addition, if not furnished with indemnity satisfactory to it, <br />Administrative Agent shall have the right to compromise and adjust any such claims, actions and <br />judgments, and in addition to the rights to be indemnified as herein provided, all amounts paid by <br />Administrative Agent in compromise, satisfaction or discharge of any such claim, action or judgment, <br />and all court costs, attorneys' fees and other expenses of every character expended by Administrative <br />Agent pursuant to the provisions of this section shall be a demand obligation (which obligation <br />Mortgagor hereby expressly promises to pay) owing by Mortgagor to Administrative Agent and shall <br />bear interest, from the date expended until paid, at the Default Rate. The foregoing indemnities shall <br />not terminate upon the Release Date (as hereinafter defined) or upon the release, foreclosure or other <br />termination of this Mortgage but will survive the Release Date, foreclosure ofthis Mortgage or <br />conveyance in lieu of foreclosure, and the repayment of the secured indebtedness and the discharge and <br />release of this Mortgage and the other documents evidencing and/or securing the secured indebtedness. <br />The "Release Date" as used herein shall mean the earlier of the following two dates: (i) the date on <br />which the indebtedness and obligations secured hereby have been paid and perfonned in full and this <br />Mortgage has been released of record, or (ii) the date on which the Lien of this Mortgage is foreclosed <br />or a deed in lieu of such foreclosure is fully effective and recorded. WITHOUT LIMITATION, IT IS <br />THE INTENTION OF MORTGAGOR AND MORTGAGOR AGREES THAT TilE <br />FOREGOING RELEASES AND INDEMNITIES SHALL APPLY TO EACH INDEMNIFIED <br />PARTY WITH RESPECT TO ALL CLAIMS, DEMANDS, LIABILITIES, LOSSES, <br />DAMAGES (INCLUDING WITHOUT LIMITATION CONSEQUENTIAL DAMAGES), <br />CAUSES OF ACTION, JUDGMENTS, PENAL TIES, COSTS AND EXPENSES (INCLUDING <br />WITHOUT LIMITATION REASONABLE ATTORNEYS' FEES AND EXPENSES) WHICH <br />IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF THE NEGLIGENCE OF <br />SUCH (AND/OR ANY OTHER) INDEMNIFIED PARTY. However, such indemnities shall not <br />apply to any particular indemnified party (but shall apply to the other indemnified parties) to the extent <br />the subject of the indemnification is caused by or arises out of the gross negligence or willful <br />misconduct of such particular indemnified party. <br /> <br />Section 3.4. Mortgagor's Absolute Obligation to Pay Note. Nothing herein contained shall <br />detract from or limit the obligations of Mortgagor to make prompt payment of the Notes, and any and <br />all other secured indebtedness, at the time and in the manner provided herein, in the Loan Documents <br />and in the agreements evidencing Lender Swap Obligations, regardless of whether the Rents herein <br />assigned are sufficient to pay same, and the rights under this Article III shall be cumulative of all other <br />rights under the Loan Documents and rights under the agreements evidencing Lender Swap <br />Obligations. <br /> <br />Section 3.5. Change of Purchaser. To the extent applicable, and if a default has occurred <br />hereunder and is continuing, should any person now or hereafter purchasing or taking production <br />related to any Pipeline System fail to make payment promptly to Administrative Agent of the related <br />production proceeds, Administrative Agent shall, subject to then existing contractual prohibitions, have <br />the right to make, or to require Mortgagor to make, a change of purchaser, and the right to designate or <br />approve the new purchaser, and Administrative Agent shall have no liability or responsibility in <br />connection therewith so long as ordinary care is used in making such designation. <br /> <br />Section 3.6. Rights Under Oklahoma Oil and Gas Owners' Lien Act. Mortgagor hereby <br />grants, sells, assigns and sets over unto Administrative Agent during the term hereof, all of Mortgagor's <br />rights and interests pursuant to the provisions of the Oil and Gas Owners' Lien Act (OKLA. STAT. tit. <br /> <br />505901000016 DALLAS 2307301.3 <br /> <br />17 <br /> <br />[MULTI STATE MORTGAGE] <br />
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