Common use of Changes in Laws Regarding Taxation Clause in Contracts

Changes in Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Debt or Xxxxxx’s interest in the Property, Borrower will pay such tax, with interest and penalties thereon, if any. If Lender is advised by its counsel that the payment of such tax or interest and penalties by Xxxxxxxx would be unlawful, taxable to Lender or unenforceable, or would provide the basis for a defense of usury, then Lender shall have the option, by notice of not less than 90 days, to declare the Debt immediately due and payable.

Changes in Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Security Instrument which deducts the Debt from the value of the Security Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Debt or XxxxxxLender’s interest in the Security Property, Borrower will pay such tax, with interest and penalties thereon, if any. If In the event Lender is advised by its counsel chosen by it that the payment of such tax or interest and penalties by Xxxxxxxx Borrower would be unlawful, unlawful or taxable to Lender or unenforceable, unenforceable or would provide the basis for a defense of usury, then in any such event, Lender shall have the option, by written notice of not less than 90 one hundred eighty (180) days, to declare the Debt immediately due and payablepayable without any prepayment consideration.

Changes in Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Debt or XxxxxxBeneficiary’s interest in the Property, Borrower Trustor will pay such tax, with interest and penalties thereon, if any. If Lender Beneficiary is advised by its counsel that the payment of such tax or interest and penalties by Xxxxxxxx Trustor would be unlawful, taxable to Lender Beneficiary or unenforceable, or would provide the basis for a defense of usury, then Lender Beneficiary shall have the option, by notice of not less than 90 days, to declare the Debt immediately due and payable.

Changes in Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Debt or XxxxxxLender’s interest in the Property, Borrower will pay such tax, with interest and penalties thereon, if any. If Lender is advised by its counsel that the payment of such tax or interest and penalties by Xxxxxxxx Borrower would be unlawful, taxable to Lender or unenforceable, or would provide the basis for a defense of usury, then Lender shall have the option, by notice of not less than 90 days, to declare the Debt immediately due and payable.

Changes in Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Debt or XxxxxxLender’s interest in the Property, Borrower will pay such tax, with interest and penalties thereon, if any. If Lender is advised by its counsel that the payment of such tax or interest and penalties by Xxxxxxxx Borrower would be unlawful, taxable to Lender or unenforceable, or would provide the basis for a defense of usury, then Lender shall have the option, by written notice of not less than 90 one-hundred twenty (120) days, to declare the Debt immediately due and payable.