200808234 - Laserfiche WebLink

Browse

200808234 (ii) Trustor is the owner of the Mortgaged Property, free and clear of all liens except for the Permitted Liens; (iii) Trustor has good and lawful right to mortgage the Mortgaged. Property to Beneficiary without the consent of any Person other than those consents which have been obtained; (iv) the lien created by this Deed of Trust constitutes a valid, binding and enforceable lien on the Mortgaged Property; and (v) the Permitted Liens do not materially interfere with or materially adversely affect the use, value or operation of the Premises. (b) Trustor shall (i) cause the representations and warranties in subsection (a) of this Section to continue to be true in each and every respect at all times prior to the termination of this Deed of Trust; and (ij) preserve, protect, warrant and defend (A) the estate, right, title and interest of Trustor in and to its Mortgaged Property (B) the validity, enforceability and priority of the lien of this Deed of Trust, and (C) the right, title and interest of Beneficiary and any purchaser at any sale of the Mortgaged Property hereunder or relating hereto. (c) Upon full execution, acknowledgment and the recording of this Deed of Trust in the county recording office of the county in which the Land is located, the lien of this Deed of Trust shall be a perfected mortgage lien and fixture filing on the Mortgaged Property. (d) Trustor shall perform all acts that may be necessary to continue, maintain, preserve, protect and perfect the Mortgaged Property, the lien granted to Beneficiary therein and the perfected priority of such lien. Upon request by Beneficiary, Trustor shall at its sole cost and expense (i) promptly correct any defect or error which may be discovered in this Deed of Trust or any financing statement or other document relating hereto; and (ii) promptly execute, acknowledge, deliver, record, and re-record, register and re-register, and file and re-file this Deed of Trust and any fixture filings, financing statements or other documents which Beneficiary may reasonably require from time to time (all in form and substance reasonably satisfactory to Beneficiary) in order (A) to effectuate~ complete, perfect, continue or preserve the lien of this Deed of Trust on the Mortgaged Property, whether now owned or hereafter acquired, (B) to Correct or change the name of Trustor following any change in its identity or sale ofthe Mortgaged Property, or (C) to effectuate, complete, perfect, continue or preserve any right, power or privilege granted or intended to be granted to Beneficiary hereunder. SECTION 2.03. Secured Obligations. Trustor shall duly and punctually pay, perfonn and observe the Obligations binding upon Trustor. SECTION 2.04. Impositions. Subject to Section 2.06 and Section 2.09. Trustor shall (i) duly and punctuall y pay all Impositions before any fine, penalty, interest OT cost may be added for nonpayment; and (ii) promptly notify Beneficiary of the receipt by Trustor of any notice of default in the payment of any Imposition. The tenn "hnpositions" means all taxes, assessments and other governmental charges, ground rents, or other rents, charges, excises, levies, fees and other charges (public or private) which may be assessed, levied or imposed on, or in respect of or be a lien upon the Mortgaged Property or any part thereof or any interest therein. -7-