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2oioooi5i <br />(a) All taxes, assessments, water rates and sewer rents, now or hereafter levied or <br />assessed or imposed against the Mortgaged Property or any part thereof (the <br />"Taxes") and all ground rents, maintenance charges, other governmental <br />impositions, and other charges, including without limitation vault charges and <br />license fees for the use of vaults, chutes and similar areas adjoining the Premises, <br />now or hereafter levied or assessed or imposed against the Mortgaged Property or <br />any part thereof (the "Other Charges") shall be paid by Borrower or Lessee an or <br />prior to the date any interest ar penalties are due thereon (except to the extent the <br />Taxes ar Other Charges are payable in installments, in which case Borrower or <br />Lessee shall have the right to pay such Taxes or Other Charges in such <br />installments). Borrower shall deliver, ar cause to be delivered by Lessee, to <br />Lender, promptly upon Lender's written request, evidence satisfactory to Lender <br />that the Taxes and Other Charges have been so paid or are not then delinquent. <br />Borrower shall not suffer and shall promptly cause to be paid and discharged any <br />lien or charge whatsoever ("Prohibited Encumbrances") which may be or become <br />a lien or charge against the Mortgaged Property, subject to paragraph 4(b) hereof, <br />provided however, that the lien of ad valorem real estate taxes need not be <br />discharged until the last day that the related taxes may be paid without incurring <br />any interest or penalty. Borrower may, at its option and sole discretion, execute <br />and deliver such powers of attorney and other documents granting the Lessee the <br />rights to execute, acknowledge and deliver tax returns, statements and other tax <br />related instruments, and pay any Taxes with respect to the Mortgaged Property or <br />any income therefrom. <br />(b) Notwithstanding the foregoing, but subject to the terms of the Lease, after prior <br />written notice to Lender, Borrower may contest, or permit to be contested, by <br />appropriate legal proceeding, promptly initiated and conducted in good faith and <br />with due diligence, the arnaunt or validity or application in whale or in part of any <br />of the Taxes, Other Charges or Prohibited Encumbrances, provided that (i) such <br />proceeding shall suspend the collection of the Taxes, Other Charges or Prohibited <br />Encumbrances from Borrower and from the Mortgaged Property, (ii) such <br />proceeding shall be permitted under and be conducted in accordance with the <br />provisions of any other instrument to which Borrower is subject and shall not <br />constitute an Event of Default thereunder if contested by Borrower, (iii) neither <br />the Mortgaged Property nor any part thereof or interest therein will be in danger <br />of being sold, forfeited, terminated, canceled or lost during the pendency of such <br />contest, and (iv) if a Lease Default then exists or if the Lease is not in existence, <br />Borrower or Lessee shall post a bond or other security with and acceptable to <br />Lender in its discretion in an amount equal to 125% of the amount being <br />contested. <br />(c) Notwithstanding anything to the contrary contained herein, the Lessee may <br />contest Taxes and Other Charges pursuant to Section 6 of the Lease, and <br />Borrower shall be permitted hereunder to cooperate with any such contest in <br />accordance with the terms of the Lease. <br />5. Escrow Fund. <br />-12- <br />15445229.4.BUSINESS <br />