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201107590 Lot Owner's failure, within twenty-four (24) hours after such notice, to commence such removal and diligently pursue same, or (ii) Lot Owner's and the other Lot Owner's failure to reach in good faith, a plan for such removal by Lot Owner, whereupon Lot Owner shall be liable to pay the other Lot Owner upon demand, the reasonable cost and expense incurred by Developer, including interest at fifteen percent (15%) and a reasonable management fee not to exceed ten percent (10%). 7.5. Calculation and Payment of Real Property Taxes, Personal Property Taxes. To the fullest extent possible, real estate taxes and general and special assessments (collectively, "Real Property Taxes") levied and assessed against any Lot shall be separately assessed by the taxing authority and paid by the Lot Owner. Each Lot Owner shall pay or cause to be paid on or before the date such taxes become delinquent, all such �axes levied and assessed on its Lot and any improvements thereon. Such Real PropertyTaxes may be paid in installments where installments are permitted bythe taxing authorities. In addition to Real Property Taxes, each Lot Owner shall cause to be paid before delinquency all taxes (including sales and use taxes), assessments, license fees and public charges levied, assessed or imposed upon the business operations on its Lot(s) as well as upon the merchandise, inventory, furniture, fixtures, equipment and other personal property of such businesses. 7.6. Indemnification and Insurance. 7.6.1. Construction. Each Lot Owner covenants and agrees to indemnify, defend, and hold harmless Developer and the other Lot Owners and its tenants, invitees and occupants from and against any and all loss, cost, damage, liability, or expense (including, without limitation, reasonable attorneys' fees) incurred in connection with all claims, including any action or proceedings brought thereon, arising from or relating to construction activities or operations on a Lot. The Lot Owner (each, a"Constructing Owner") shall pay all reasonable costs and expenses incurred by any other Lot Owner due to damage to the other Lot arising from or related to such Constructing Owner's construction operations at such Lot. No Constructing Owner shall materially obstruct the free flow of pedestrian or vehicular traffic upon and across any other Lot during any period of construction at such Lot or at any time thereafter. 7.6.2. No Constructing Owner shall permit or suffer any mechanic's liens claims to be filed or otherwise asserted against any other Lot during construction or otherwise, and shall promptly discharge the same in case of the filing of any claims for liens or proceedings for the enforcement thereof, or in the event such Constructing Owner in good faith desires to contest the validity or amount of any mechanic's lien, such Constructing Owner shall have the right to contest the validity or amount of any such mechanic's lien, provided that: (i) such Constructing Owner deposits with the owner of the Lot affected by such mechanic's lien cash or a letter of credit or other security reasonably acceptable to such affected Lot Owner in an amount equal to one hundred fifty percent (150%) of the amount of said lien to insure payment and prevent any sale or forfeiture of any part of the affected Lot by reason of nonpayment; (ii) neither the affected Lot nor any part thereof or interest therein would be in any substantial danger of being sold, forfeited, or lost, (iii) such affected Lot Owner would not be in any substantial danger of any civil or criminal liabilityfor failure to comply therewith; and (iv) such Constructing Owner promptly notifies such affected Lot Owner, in writing, of such contest. Any such contest shall be prosecuted with due diligence and such Constructing Owner shall promptly after the final determination thereof pay the amount of any such lien, together with all interest, penalties and other costs payable in connection therewith. Any such letter of credit deposited hereunder shall be issued by a national bank reasonably acceptable to such affected Lot Owner. Each Constructing Owner and its tenants and their respective contractors and subcontractors shall be solely responsible for the transportation, safekeeping and storage of materials and equipment used in connection with such Constructing Owner's construction operations, and for the removal of waste and debris resulting therefrom. In the event any Constructing Owner's construction operations 7 Meadowlark Declaration Lots 1 & 2-9�' Subdivision