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201007862
<br />apply the same to payment o� tla�e outstanding Obligations in accorda.nce with the parovisians of
<br />said 1602 Agreement and with paragraph 6 hereof, and the Authority is hereby authorized, in the
<br />name of Grantor, to execute and deliver valid acquittances thereof and to appeal from any such
<br />awazd, any excess amounts to be delivered to Grantor.
<br />9. (a) Grantnr shall do or caus� to be done everythin� neeessaxy ta preserve the lien
<br />hereaf without expense to Trustee and Authority, includin�, witlxout limitation, payi.ng and
<br />discharging or causing to be paid and discharged, whether or not payable directly by Grantor or
<br />subject to withholding at the source, (i) all taxes, assessments, levies, fees, water and sewer rents
<br />and charges and all other governmental charges, general, special, ardinary or extraordinary, a�nd
<br />all charges far utality or cammunications services, which may at any time be assessed, levied or
<br />imposed upon Grantor, the Premises, this Recapture Deed of Tnast, the Obligations or the Rents
<br />qr which may arise in respect of tlae occupancy, use, possession or operation thereo� (ii) all
<br />income, excess profits, sales, gross recei�ts and other ta�es, duties or imposts, whether similar or
<br />not in nature, assessed, levied or imposed by aiay gavernmental authority on Grantor, the
<br />Premis�s or the Rents, and (iii) a11 lawful claims and demands of inechanics, laborers,
<br />materi�almen and others which, if unpaid, might create a�ien on the Premises, or on the Rents,
<br />unless Grazxtor shall cantest the amount or validity thereof in accordance w�it� subs�ction (b).
<br />(b) Crrantar may, at its own expense, contest or cause to be contested, by
<br />appropriate legal proceedi.ngs conducted in good fsith and with due diligence, the amount or
<br />validity or application, in whole or in part, of any item specified in subsectian (a) or lien therefor,
<br />provided that (i) Grantar shall provide written norice ta Authority of any contest involving more
<br />than $1 Q,000.00, (ii) such proceeding shall suspend the collection thereof �ram the Premises or
<br />any interrF;st therein, (ui) neither the Premises nor any interest therein would be in any danger o�
<br />being sold, farfeited ar lost by reasan af such proceedings, (iv) na Event of Defaul,t has occurred
<br />and is continuing, and (v) Grantor shall have deposited with Authority adequate reserves for the
<br />payment of the taxes, together with ali intez�st and penalties thereon, imless paid in �'ull under
<br />protest, ar Grantar shall have furnished the security as may b� required �in: the proceeding or as
<br />may be required by Authority to insure payment of any contcsted ta7ces.
<br />10. In the event the Grantor fails ta pay any sums pravided far in this Recapture Deed
<br />of Trust, the Authority, at its option, may pay the same. Ar►y excess fiinds accumulated und�r (a)
<br />of the preceding para.graph remaining after payment o� the items therein mentioned, may, at the
<br />Autharity's op�ion be credited to subsequent payments of the same nature required therewlder,
<br />but if any such item shall exceed khe estim�ate thqrefore, or if Grantar shall �ail to pay any other
<br />gavez or municipal charge, Grantar shall forthwith make good the deficiency or pay the
<br />chazge befare tk�e same bccomes delinquent or subject to interest or penalties and in default
<br />thereof the Authority may pay the same. All sums paid by the Authority and any sums which the
<br />Authority may be required to advance to pay insurance premiums shall be added tn the
<br />Obligatians secured hereby a�nd shall beaz interest from the date of payment at the "Default Rate"
<br />th� rate published in the Wall Str�ct Journal and identified therein as the Prime Rate on the date
<br />of such payment plus twa percent (2)% and shall be due and payable on demand. If the property
<br />is sold under foreclosure or is otherwise acquired by the Authority after an Event of Default, any
<br />rem�aining balance of the accumulations wxder (a) of the preceding pazagaraph shal,l be credited to
<br />the Obligatians s�cur�d by this Recapture Decd of Trust as of the date of the commencement of
<br />Recapturc Deed of Truy� and Se�curity Agreement
<br />4840�"i 7ss-9942.2
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