Charges and Liens. Pay and discharge when due all of its indebtedness and obligations, including without limitation all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, prior to the date on which penalties would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's properties, income, or profits.
Charges and Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this Mortgage in the manner provided herein. Failure to pay as required hereunder shall constitute a default of this Mortgage. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien, whether or not such lien has priority over this Mortgage.
Charges and Liens. Trustor will promptly pay when due, the interest, principal, and all other charges accruing under any deed of trust, mortgage, or other instrument encumbering the Property, and will pay when due directly to the payee thereof all taxes, assessments and other charges, fines and impositions affecting the Property. Upon request by the City, Trustor will promptly furnish to the City copies of all notices of amounts due described in this Section and evidence of payment of such amounts. Trustor shall pay when due each obligation secured by or reducible to a lien, charge or encumbrance which now does or later may encumber or appear to encumber all or part of the Property or any interest therein, whether or not such lien, charge or encumbrance is or would be senior or subordinate to this Deed of Trust; provided however, Trustor will not be required to discharge the lien of the deed of trust securing the First Mortgage Note (the “First Mortgage Deed of Trust”), and Trustor will not be required to pay any tax, charge, lien or assessment described in this Section so long as Trustor is actively contesting its validity in good faith and by appropriate legal proceedings that will operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. Trustor shall post security for the payment of such contested claims as may be requested by the City.
Charges and Liens. Borrower will pay all taxes, assessments, charges and fines attributable to the Property which may attain priority over this Mortgage. Borrower will pay these obligations on time directly to the person to whom payment is owed. Borrower will promptly discharge any lien which may attain priority over this Mortgage unless Borrower: (a) agrees in writing to pay the obligation secured by the lien in a manner acceptable to the Grantor; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which, in the Grantor’s opinion, operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to the Grantor subordinating the lien to this Mortgage. If the Grantor determines that any part of the Property is subject to a lien which may attain priority over this Mortgage, the Grantor may give Borrower a notice identifying the lien. Borrower will satisfy the lien or take one or more of the actions set forth above within ten (10) days of the Grantor’s giving of such notice.
Charges and Liens. Except to the extent Mortgagor makes payments ------------------- therefor under 3.4 and except for Permitted Liens (as hereinafter defined), Mortgagor shall promptly pay before delinquent taxes, assessments, levies, and any other charges which have or may become a lien on any of the Property. For purposes hereof, Permitted Liens means [i] liens granted to Mortgagee; [ii] liens customarily incurred by Mortgagor in the ordinary course of business for items not delinquent, including mechanic's liens and deposits and charges under worker's compensation laws; [iii] liens for taxes and assessments not yet due and payable; [iv] any lien, charge or encumbrance which is being contested in good faith pursuant to this Lease; [v] the Permitted Exceptions; and [vi] purchase money financing and capitalized equipment leases for the acquisition of personal property provided, however, that Mortgagee obtains a nondisturbance agreement from the purchase money lender or equipment lessor in form and substance as may be satisfactory to Mortgagee if the original cost of the equipment exceeds $250,000.00.
Charges and Liens. Pay and discharge when due all of its indebtedness and obligations, including without limitation all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, prior to the date on which penalties would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower’s properties, income, or profits. Provided however , Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (1) the legality of the same shall be contested in good faith by appropriate proceedings, and (2) Borrower shall have established on Borrower’s books adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.
Charges and Liens. Mortgagor shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property, together with any interest or penalties imposed for late payments thereof, that are due or may become due and be a lien against the Property (“Impositions”). Mortgagor shall submit to the Noteholder evidence of the timely payment of such Impositions.
Charges and Liens. Except to the extent Tenant makes payments therefor under Section 3.4 and except for items being contested in good faith, in compliance with the requirements of the Lease, Tenant shall promptly pay before delinquent taxes, assessments, levies, and any other charges which have or may become a lien on any of the Property.
Charges and Liens. Borrower will not voluntarily create, or permit or suffer to be created or to exist, on or against the Mortgaged Property or any part thereof, any lien superior to the lien of this Mortgage, exclusive of the lien or liens to which this Mortgage is expressly subject (as set forth in the next sentence), and will keep and maintain the same free from the claims of all parties supplying labor and/or materials which will enter into the construction or installation of the Improvements. The Lender hereby acknowledges and agrees that this Mortgage is subordinate to (i) the construction loan in the amount of $11,000,000 (the “Construction Loan”) made by Fifth Third Bank, National Association to Project Sponsor, (ii) the permanent loan in the amount of $2,000,000 (the “Permanent Loan”) made by Neighborhood Lending Partners to Project Sponsor, (iii) the Construction/Permanent Loan in the amount of $1,000,000 made by Gulfcoast Housing Foundation to Project Sponsor (the “Construction/Permanent Loan”) and (iv) any refinancings of the Construction Loan and Permanent Loan and Construction/Permanent Loan. The County will cooperate with the Project Sponsor to execute the necessary subordination agreements, if any.
Charges and Liens. The Borrower will not voluntarily create, or permit or suffer to be created or to exist, on or against the Mortgaged Property or any part thereof, any lien superior to the lien of this Mortgage, exclusive of the lien or liens to which this Mortgage is expressly subject, and will keep and maintain the same free from the claims of all parties supplying labor and/or materials which will enter into the construction or installation of the Improvements. The Lender hereby acknowledges the following liens and encumbrances will be superior to the lien of this Mortgage and the Declaration of Covenants and Restrictions executed in connection herewith: a first mortgage construction loan from Bank of America and upon conversion the first mortgage permanent loan from Neighborhood Lending Partners or such other substitute permanent lender selected by Borrower to fund the first mortgage permanent loan and any refinancing thereof (the “Senior Debt”) or any such liens and encumbrances provided on the Borrower’s title report. The Loan secured hereby and the terms of this Mortgage shall be subordinate in all respects to the Senior Debt and the agreements, documents and instruments executed by Xxxxxxxx in connection therewith.
