Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable. (b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable. (c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 12 contracts
Samples: Loan Agreement (Clipper Realty Inc.), Loan Agreement (Safety, Income & Growth, Inc.), Loan Agreement (Medalist Diversified REIT, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Mortgage which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Mortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 11 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety one hundred twenty (90120) days days, to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 11 contracts
Samples: Deed of Trust and Security Agreement (Corporate Property Associates 15 Inc), Mortgage and Security Agreement (Corporate Property Associates 15 Inc), Deed of Trust and Security Agreement (Corporate Property Associates 15 Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property any Collateral for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Property Taxes or Other Charges assessed against the an Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the an Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Pledge Agreements or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreements, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 10 contracts
Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will shall not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will shall pay for the same, with interest and penalties thereon, if any.
Appears in 7 contracts
Samples: Deed of Trust (TNP Strategic Retail Trust, Inc.), Deed of Trust (TNP Strategic Retail Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyProperty (other than income, franchise or similar taxes), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 6 contracts
Samples: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc), Loan Agreement (Maguire Properties Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the an Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Property Taxes or Other Charges assessed against the an Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the an Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgages or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgages, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 6 contracts
Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 5 contracts
Samples: Mortgage and Security Agreement (Cedar Income Fund LTD /Md/), Contribution Agreement (Cv Reit Inc), Deed of Trust, Security Agreement, Assignment of Production and Fixture Filing (Cubic Energy Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 5 contracts
Samples: Loan Agreement (American Assets Trust, Inc.), Loan Agreement (Glimcher Realty Trust), Loan Agreement (CNL Income Properties Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 4 contracts
Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Loan Agreement (Cole Corporate Income Trust, Inc.), Loan Agreement (Glimcher Realty Trust)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Collateral (or any portion thereof) for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral (or any portion thereof) (other than an Excluded Tax), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, or the Applicable Collateral (or any part thereof), and no deduction shall otherwise be made or claimed from the assessed value of the PropertyCollateral, or any respective part thereof, for real estate tax purposes by reason of the Security Instrument Instrument, the Pledge Agreement or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreement, or any of the other Loan Documents or impose any other tax or charge on the samesame (other than an Excluded Tax), Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 4 contracts
Samples: Mezzanine Loan Agreement (Northstar Realty Finance Corp.), Mezzanine Loan Agreement (Northstar Realty Finance Corp.), Mezzanine Loan Agreement (NorthStar Healthcare Income, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyProperty (other than the inclusion of such amounts as income for income tax purposes or taxes on Lender’s capital), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable. If so accelerated, Borrower shall repay the Loan without premium or penalty.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable. If so accelerated, Borrower shall repay the Loan without premium or penalty.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Fee and Leasehold Deed to Secure Debt and Security Agreement (Behringer Harvard Reit I Inc), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Inland Real Estate Income Trust, Inc.), Deed of Trust, Assignment of Leases and Rents and Security Agreement (Inland Real Estate Income Trust, Inc.), Deed of Trust (Inland American Real Estate Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of against the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Mortgage and Security Agreement (Paladin Realty Income Properties Inc), Mortgage Modification Agreement (Sun Communities Inc), Mortgage and Security Agreement (Secured Investment Resources Fund Lp Ii)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Loan Agreement, this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Mortgage (Deed of Trust), Mortgage (KBS Real Estate Investment Trust, Inc.), Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days days, to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Mortgage and Security Agreement (Resource Real Estate Opportunity REIT, Inc.), Deed of Trust and Security Agreement (Innovative Micro Technology Inc), Credit Agreement (Cybex International Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable, provided, however, that in such event no Exit Fee or other prepayment premium shall be due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Loan Agreement (American Realty Capital Trust III, Inc.), Loan Agreement (American Realty Capital Trust III, Inc.), Loan Agreement (American Realty Capital Trust III, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (9080) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (9080) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 3 contracts
Samples: Deed of Trust and Security Agreement (Koger Equity Inc), Deed of Trust and Security Agreement, Deed of Trust and Security Agreement (Maguire Properties Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Property Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (MVP REIT II, Inc.), Loan Agreement (MVP REIT, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderBeneficiary’s interest in the Property, Borrower Trustor will pay the tax, with interest and penalties thereon, if any. If Lender Beneficiary is advised by counsel chosen by it that the payment of tax by Borrower Trustor would be unlawful or taxable to Lender Beneficiary or unenforceable or provide the basis for a defense of usury usury, then Lender Beneficiary shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower Trustor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Deed of Trust or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Beneficiary shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Deed of Trust, or any of the other Loan Documents or shall impose any other tax or charge on the same, Borrower Trustor will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Terra Tech Corp.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Terra Tech Corp.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax (excluding any franchise tax, income tax or other similar tax), either directly or indirectly, on the Debt or LenderMortgagee’s interest in the Property, Borrower other than taxes measured by the gross or net income of Mortgagee, Mortgagor will pay the tax, with interest and penalties thereon, if any, subject to Mortgagor’s right to contest such taxes as expressly provided in the Loan Agreement. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxxx would be unlawful or taxable to Lender Mortgagee or unenforceable or provide the basis for a defense of usury usury, then Lender Mortgagee shall have the option option, exercisable by written notice of not less than ninety one-hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges other charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender Mortgagee shall have the option, exercisable by written notice of not less than ninety one-hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the NoteLoan Agreement, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Xxxxxxxxx will pay for the same, with interest and penalties thereon, if any, subject to Mortgagor’s right to contest as expressly provided in the Loan Agreement.
Appears in 2 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Blyth Inc), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Blyth Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and Mortgage which imposes a tax, either directly or indirectly, on the Debt Secured Obligations or Lender’s the interest of the Administrative Agent or any other Secured Party in the Property, Borrower requires revenue or other stamps to be affixed to any of the Loan Documents, or imposes any other tax or charge on the same, the Mortgagor will pay the taxsame, with interest and penalties thereon, if any. If Lender the Administrative Agent is advised by counsel chosen by it that the payment of tax by Borrower the Mortgagor would be unlawful or taxable to Lender the Administrative Agent or any other Secured Party or unenforceable or provide the basis for a defense of usury usury, then Lender the Administrative Agent shall have the option right and option, by written notice to the Mortgagor of not less than ninety (90) days calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Debt Secured Obligations immediately due and payable.
(b) Borrower . The Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Debt Secured Obligations for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, ; for real estate tax purposes by reason of the Security Instrument this Mortgage or the DebtSecured Obligations . If such claim, credit or deduction shall be required by applicable law, Lender the Administrative Agent shall have the option, by written notice of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Debt Secured Obligations immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Open End Mortgage Deed, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Smith & Wesson Holding Corp), Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Smith & Wesson Holding Corp)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, other than any income, franchise, gross receipts or similar taxes, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable, without premium or penalty.
(b) If any law described in Section 15.4(a) is enacted or adopted or amended after the date of this Agreement, Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Retail Value Inc.), Loan Agreement (Retail Value Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days days, to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Convertible Promissory Notes (Minrad International, Inc.), Mortgage and Security Agreement (Polymer Research Corp of America)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Properties (or any portion thereof) for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyProperties (or any portion thereof) (other than an Excluded Tax), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentInstruments, or any of the other Loan Documents or impose any other tax or charge on the samesame (other than an Excluded Tax), Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (NorthStar Healthcare Income, Inc.), Loan Agreement (Northstar Realty Finance Corp.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by upon written notice to Borrower of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by upon written notice to Borrower of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Alexanders Inc), Mortgage and Security Agreement (Alexanders Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s Mortgagee's interest in the Property, Borrower Xxxxxxxxx will pay the tax, with interest and penalties thereon, if any. If Lender Mortgagee is advised by counsel chosen by it Mortgagee that the payment of tax by Borrower Xxxxxxxxx would be unlawful or taxable to Lender Mortgagee or unenforceable or provide the basis for a defense of usury usury, then Lender Mortgagee shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Mortgagee shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Xxxxxxxxx will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Financing Statement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Financing Statement (Lightstone Value Plus Real Estate Investment Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any, upon thirty (30) day written notice. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payablepayable without imposing any prepayment premium or charge thereon.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) payable without imposing any prepayment premium or charge thereon. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Collateral (or any portion thereof) for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral (or any portion thereof) (other than an Excluded Tax), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, or the Collateral (or any part thereof), and no deduction shall otherwise be made or claimed from the assessed value of the PropertyCollateral, or any respective part thereof, for real estate tax purposes by reason of the Security Instrument Instrument, the Pledge Agreement or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreement, or any of the other Loan Documents or impose any other tax or charge on the samesame (other than an Excluded Tax), Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (Northstar Realty Finance Corp.), Mezzanine Loan Agreement (NorthStar Healthcare Income, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and Security Instrument which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, requires revenue or other stamps to be affixed to the Note, this Security Instrument, or the Other Loan Documents, or imposes any other tax or charge on the same, Borrower will pay the taxsame, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, by written notice of not less than ninety one hundred eighty (90180) days calendar days, to declare the Debt immediately due and payable, in which event no prepayment penalty will be due.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) calendar days, to declare the Debt immediately due and payable, in which event no prepayment penalty will be due.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.), Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will shall not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will shall pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Deed of Trust (TNP Strategic Retail Trust, Inc.), Deed of Trust (TNP Strategic Retail Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the an Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable, without prepayment premium or penalty.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the an Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the an Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgages or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgages, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Corporate Property Associates 16 Global Inc), Loan Agreement (Corporate Property Associates 15 Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower Borrowers will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Borrowers would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower Borrowers will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the any Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the any Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgages or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgages, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Borrowers will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State state thereof or any subdivision of any such State state shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Gaia, Inc), Loan Agreement (Condor Hospitality Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the any Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the any Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentany Mortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Bon Ton Stores Inc), Loan Agreement (Bon Ton Stores Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety one hundred twenty (90120) days days, to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Deed of Trust and Security Agreement (Corporate Property Associates 15 Inc), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Corporate Property Associates 15 Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Collateral for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, Property (or any part thereof) or the Collateral (or any part thereof), and no deduction shall otherwise be made or claimed from the assessed value of the Property, the Collateral, or any respective part thereof, for real estate tax purposes by reason of the Security Instrument Instrument, the Pledge Agreement or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreement, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (Morgans Hotel Group Co.), Mezzanine Loan Agreement (Morgans Hotel Group Co.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and Security Instrument which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, requires revenue or other stamps to be affixed to the Note, this Security Instrument, or the Other Loan Documents, or imposes any other tax or charge on the same, Borrower will pay the taxsame, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, by written notice of not less than ninety one hundred eighty (90180) days calendar days, to declare the Debt immediately due and payable, in which event no prepayment penalty will be due.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) calendar days, to declare the Debt immediately due and payable, in which event no prepayment penalty will be due.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.), Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Loan Agreement, this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Open End Mortgage and Security Agreement (Griffin Land & Nurseries Inc), Open End Mortgage and Security Agreement (Griffin Land & Nurseries Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderLxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Lxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Bxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of against the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Sun Communities Inc), Mortgage and Security Agreement (Sun Communities Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax (excluding any franchise tax, income tax or other similar tax), either directly or indirectly, on the Debt or LenderMortgagee’s interest in the Property, Borrower other than taxes measured by the gross or net income of Mortgagee, Mortgagor will pay the tax, with interest and penalties thereon, if any, subject to Mortgagor’s right to contest such taxes as expressly provided in the Loan Agreement. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxxx would be unlawful or taxable to Lender Mortgagee or unenforceable or provide the basis for a defense of usury usury, then Lender Mortgagee shall have the option option, exercisable by written notice of not less than ninety one-hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower Xxxxxxxxx will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges Taxes assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Mortgagee shall have the option, exercisable by written notice of not less than ninety one-hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the NoteLoan Agreement, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Xxxxxxxxx will pay for the same, with interest and penalties thereon, if any, subject to Mortgagor’s right to contest as expressly provided in the Loan Agreement.
Appears in 2 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Blyth Inc), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Blyth Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any Individual Property or the Property Properties for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable, with no prepayment premium or Yield Maintenance.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Property Taxes or Other Charges assessed against the any Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the any Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument any Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) , with no prepayment premium or Yield Maintenance. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Griffin Capital Essential Asset REIT II, Inc.), Loan Agreement (Griffin Capital Essential Asset REIT, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s Administrative Agent’s, for the benefit of Lenders interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Administrative Agent is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender Administrative Agent or Lenders or unenforceable or provide the basis for a defense of usury then Lender Administrative Agent shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender Administrative Agent shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State state thereof or any subdivision of any such State state shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 2 contracts
Samples: Loan Agreement (Cole Credit Property Trust III, Inc.), Loan Agreement (Cole Credit Property Trust III, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) a. Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) b. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawlaw and not fully reimbursed or paid by Xxxxxxxx, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement and Fixture Filing (Glimcher Realty Trust)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Koger Equity Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Property Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, Property or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Instrument, the Pledge Agreement or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreement, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Cole Corporate Income Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payablepayable without any payment of any prepayment fee or penalty; provided no Event of Default is continuing.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable, without any payment of any prepayment fee or penalty; provided no Event of Default is continuing.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereonpenalties, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days days, to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereofof it, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereofof it, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with all interest and penalties thereon, if anypenalties.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which Change in Law deducts the Debt from the value of the Property for the purpose of taxation and which or imposes a tax, either directly or indirectly, on the Debt or Agent’s or Lender’s interest in the PropertyProperty (other than Excluded Taxes), Borrower will pay the taxtax (other than Excluded Taxes), with interest and penalties thereon, if any. If Lender Agent is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender Agent or any Lender, unenforceable or provide the basis for a defense of usury usury, then Lender Agent shall have the option option, by written notice of not less than ninety one hundred twenty (90120) days days, to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Agent shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents Documents, or shall impose any other tax or charge on the same, Borrower will pay for the same, other than taxes imposed on Agent’s or Lender’s income, franchise or other similar taxes, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Senior Loan Mortgage (KBS Strategic Opportunity REIT, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Properties for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderLxxxxx’s interest in the PropertyProperties, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Lxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Bxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Property Taxes or Other Charges assessed against the PropertyProperties, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the an Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgages or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgages, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will shall not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State or other governmental authorities shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will shall pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety ore hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (AmREIT, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower Grantor will pay the tax, with interest and penalties thereon, if any, in accordance with the applicable provisions of the Loan Agreement. If Lender Lxxxxx is advised by counsel chosen by it that the payment of any such tax by Borrower Grantor would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall Lxxxxx will have the option by written notice of not less than ninety (90) 120 days to declare the Debt immediately due and payable.
(b) Borrower Grantor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall will otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall is be required by applicable law, Lender shall will have the option, by written notice of not less than ninety (90) 120 days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall will require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Grantor will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Digital Ally, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderBeneficiary’s interest in the Property, Borrower Grantor will pay the tax, with interest and penalties thereon, if any. If Lender Beneficiary is advised by counsel chosen by it that the payment of tax by Borrower Grantor would be unlawful or taxable to Lender Beneficiary or unenforceable or provide the basis for a defense of usury usury, then Lender Beneficiary shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower Grantor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Deed of Trust or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Beneficiary shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Deed of Trust, or any of the other Loan Documents or shall impose any other tax or charge on the same, Borrower Grantor will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Deed of Trust
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Taxes, Other Charges and Utility Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or shall impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) . Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (Acadia Realty Trust)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any Individual Property or the Property Collateral for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in any Individual Property or the PropertyCollateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against any Individual Property or the PropertyCollateral, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of any Individual Property or the PropertyCollateral, or any part thereof, for real estate or personal property tax purposes by reason of the Security Instrument Mortgage, the Pledge Agreement or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreement, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or LenderLxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Lxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Bxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (Istar Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any Individual Property the Property Collateral, the Other Senior Mezzanine Collateral for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in any Individual Property, the PropertyCollateral or the Other Senior Mezzanine Collateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against any Individual Property, the PropertyCollateral, the Other Senior Mezzanine Collateral, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of any Individual Property, the PropertyCollateral, the Other Senior Mezzanine Collateral, or any part thereof, for real estate or personal property tax purposes by reason of the Security Instrument Mortgage, the Pledge Agreement or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreement, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed to Secure Debt which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderGrantee’s interest in the Property, Borrower Grantor will pay the tax, with interest and penalties thereon, if any. If Lender Grantee is advised by counsel chosen by it that the payment of tax by Borrower Grantor would be unlawful or taxable to Lender Grantee or unenforceable or provide the basis for a defense of usury usury, then Lender Grantee shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower Grantor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Deed to Secure Debt or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Grantee shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Deed to Secure Debt, or any of the other Loan Documents or shall impose any other tax or charge on the same, Borrower Grantor will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable. Notwithstanding the foregoing, Borrower shall not be obligated to pay any tax on Xxxxxx’s interest in the Property under this Section 15.4 from and after any transfer of the Property to Lender or its designee by foreclosure, power of sale (if applicable under the laws of the State in which the Property is located), deed-in-lieu of foreclosure or otherwise.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (Industrial Logistics Properties Trust)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a taxtax (excluding business and occupation or income taxes on Lender), either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety one hundred twenty (90120) days days, to declare the Debt immediately due and payable in which no event no prepayment penalty shall be payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable in which no event no prepayment penalty shall be payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the samesame upon request from Lender, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Leasehold Mortgage and Security Agreement (Corporate Property Associates 15 Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If ------------------------------------------------------- any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of against the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) a. If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt Secured Obligations from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt Secured Obligations or LenderAgent’s interest in the Property, Borrower Grantor will pay the tax, with interest and penalties thereon, if any. If Lender Agent is advised by counsel chosen by it that the payment of tax by Borrower Grantor would be unlawful or taxable to Lender Agent or unenforceable or provide the basis for a defense of usury usury, then Lender Agent shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt Secured Obligations immediately due and payable.
(b) Borrower b. Grantor will not claim or demand or be entitled to any credit or credits on account of the Debt Secured Obligations for any part of the Taxes or Other Charges other charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Deed of Trust or the DebtSecured Obligations. If such claim, credit or deduction shall be required by applicable law, Lender Agent shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt Secured Obligations immediately due and payable.
(c) c. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Deed of Trust, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Grantor will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable., without prepayment penalty or premium. 21478-3715/Pacific Current Partners – NC & SC MHC Financing
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable, without prepayment penalty or premium.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Manufactured Housing Properties Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt amount of the Obligations from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt amount of the Obligations or LenderMortgagee’s interest in the Property, Borrower Borrowers will pay the tax, with interest and penalties thereon, if any. If Lender Mortgagee is advised by counsel chosen by it that the payment of tax by Borrower Borrowers would be unlawful or taxable to Lender Mortgagee or unenforceable or provide the basis for a defense of usury usury, then Lender Mortgagee shall have the option option, exercisable by written notice of not less than ninety (90) days to declare the Debt Obligations immediately due and payable.
(b) Borrower Mortgagors will not claim or demand or be entitled to any credit or credits on account of the Debt Obligations for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the DebtObligations. If such claim, credit or deduction shall be required by applicable law, Lender Mortgagee shall have the option, exercisable by written notice of not less than ninety (90) days, to declare the Debt Obligations immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Loan Agreement, this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Mortgagors will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage, Fixture Filing and Security Agreement (FelCor Lodging Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the any Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the any Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgages or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgages, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable, provided that the Debt shall not be subject to any prepayment fee, premium or penalty in connection with any payment under this Section 5.3(a) but shall be otherwise due and payable in accordance with the provisions of the Loan Agreement.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable, provided that the Debt shall not be subject to any prepayment fee, premium or penalty in connection with any payment under this Section 5.3(b) but shall be otherwise due and payable in accordance with the provisions of the Loan Agreement.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Leasehold Mortgage, Security Agreement and Fixture Filing (FelCor Lodging Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
(d) Any prepayment of the Debt made by Borrower under this Section 7.3 shall not require the payment of any Yield Maintenance Premium (as defined in the Note) or other prepayment premium or penalty (other than the payment of any applicable Interest Shortfall).
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (American Assets Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Property Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable, provided, however, that in such event no Yield Maintenance or other prepayment premium shall be due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (American Realty Capital New York Recovery Reit Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
(d) Borrower shall not be required to defease the Loan or to pay any prepayment premium, fee or penalty whatsoever in connection with any mandatory prepayment required pursuant to this Section 15.4.
Appears in 1 contract
Samples: Loan Agreement (Lightstone Value Plus Real Estate Investment Trust III, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Individual Properties for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyIndividual Properties, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the PropertyIndividual Properties, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the PropertyIndividual Properties, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Term Loan Agreement (Developers Diversified Realty Corp)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderAgent’s interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender Agent is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender Agent or unenforceable or provide the basis for a defense of usury usury, then Lender Agent shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will shall not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Agent shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, days to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or shall impose any other tax or charge on the same, Borrower will shall pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any, except to the extent such interest or penalties are due solely to the fault of Lender. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payablepayable provided, however, no Prepayment Premium or Yield Maintenance Premium shall be due.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payablepayable if such additional amounts are not paid by Borrower, provided, however, no Prepayment Premium shall be due.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any, except to the extent such interest or penalties are due solely to the fault of Lender.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement (American Assets Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Individual Borrower will pay pay, or cause to be paid, the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it and reasonably acceptable to Individual Borrower that the payment of tax by Individual Borrower and/or Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Individual Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Individual Borrower will pay pay, or cause to be paid, for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage and Security Agreement (BlueLinx Holdings Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower and Maryland Owner will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower and Maryland Owner would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower and Maryland Owner will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the any Individual Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the any Individual Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower and Maryland Owner will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage Loan Agreement (Ashford Hospitality Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(ba) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(cb) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (American Assets Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower Mortgagor will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Mortgagor would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, exercisable by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Loan Agreement, this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Mortgagor will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Mortgage which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderMortgagee’s interest in the Property, Borrower Mortgagor will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.EXHIBIT G-2 – CBL 4873-9001-7310\2
(b) Borrower Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges other charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender Mortgagee shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable, without any prepayment penalty or premium.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Mortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Mortgagor will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (American Assets Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a taxTax, either directly or indirectly, on the Debt or Lender’s interest in the Property, other than any income, franchise, gross receipts or similar taxes, Borrower will pay the taxTax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax Tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable, without premium or penalty.
(b) If any law described in Section 15.4(a) is enacted or adopted or amended after the date of this Agreement, Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax Tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (SITE Centers Corp.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(ba) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. 90526305v3
(a) If any law is enacted or adopted or amended after the date of this Agreement Mortgage which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (90180) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Mortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Properties for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyProperties, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other similar tax or charge on the samesame (for the avoidance of doubt, excluding any income, franchise or other similar taxes imposed on Lender), Borrower will pay for the same, same with interest and penalties thereon, if any, provided that in no event Borrower shall be required to pay any Excluded Taxes.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Hartman Commercial Properties Reit)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Properties for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyProperties, Borrower Borrowers will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Borrowers would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable, provided that no Yield Maintenance Premium shall be due in connection with any such payment.
(b) Borrower Borrowers will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the any Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the any Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Instruments or the Debt. If such claim, credit or deduction shall be required by applicable lawApplicable Law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable, provided that no Yield Maintenance Premium shall be due in connection with any such payment.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the any Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower Borrowers will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Deed of Trust or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrumentthis Deed of Trust, or any of the other Loan Documents or shall impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(ba) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(cb) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Open End Mortgage and Security Agreement (Glimcher Realty Trust)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) . Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the this Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the this Security Instrument, or any of the other Loan Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Butler International Inc /Md/)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (9080) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit credit, or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred eighty (9080) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State or Canada, any Province thereof or any subdivision of such Province, shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (Inland Western Retail Real Estate Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any Individual Property the Property Mezzanine 1 Collateral or the Collateral for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in any Individual Property, the PropertyMezzanine 1 Collateral or the Collateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against any Individual Property, the PropertyMezzanine 1 Collateral or the Collateral, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of any Individual Property, the PropertyMezzanine 1 Collateral or the Collateral, or any part thereof, for real estate or personal property tax purposes by reason of the Security Instrument Mortgage, the Pledge Agreement or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) . If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentPledge Agreement, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a1) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.. LOAN AGREEMENT – Page 116 41458-110/JANAF Shopping Yard (VA)
(b2) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c3) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (Wheeler Real Estate Investment Trust, Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Loan Agreement (Clipper Realty Inc.)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payablepayable without any prepayment penalty or fee.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) days, to declare the Debt immediately due and payable.
(c) payable without any prepayment penalty or fee. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security InstrumentMortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Mortgage which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Lender shall give Borrower ten (10) days’ written notice thereof, and Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety two hundred seventy (90270) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument this Mortgage or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, option to declare the Debt immediately due and payable.
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
Samples: Mortgage, Security Agreement and Absolute Assignment of Leases and Rents (Lakes Entertainment Inc)
Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.
(b) Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof, for real estate tax purposes by reason of the Security Instrument or the Debt. If such claim, credit or deduction shall be required by applicable law, Lender shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.. LOAN AGREEMENT – Page 117 41458-112/Patuxent Crossing (MD) and Coliseum Marketplace (VA)
(c) If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.
Appears in 1 contract
