Common use of Charges; Liens Clause in Contracts

Charges; Liens. Borrower shall pay all water and sewer rates, rents, taxes (not being diligently contested by Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions attributable to the Property. Borrower shall promptly discharge any lien which has, or may have, priority over or equality with, the lien of this Instrument (except for the Mortgages); provided, however, that Borrower shall be entitled to contest any such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessments, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwen, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Property.

Charges; Liens. Borrower shall pay all water and sewer rates, rents, taxes (not being diligently contested by Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions attributable to the Property. Borrower shall promptly discharge any lien which has, or may have, priority over or equality with, the lien of this Instrument (except for the Mortgages)Instrument; provided, however, that Borrower shall be entitled to contest any such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessments, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwen, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Loan Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Property.

Charges; Liens. Uniform Covenant 4 of the Instrument ("Charges; Liens") is amended to add the following provisions at the end thereof: Provided that Borrower is not in breach of any of its covenants, obligations or agreements under this Instrument and no event of default has occurred and is continuing under the Reimbursement Agreement or any other Loan Document, Borrower shall not be required to pay all water and sewer rates, rents, taxes (not being diligently contested or discharge any obligation imposed upon Borrower by this paragraph 4 so long as Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 has given written notice of the Term Loan Agreement)same to Lender and is in good faith and at its sole cost and expense diligently contesting the same or the validity thereof by appropriate legal proceedings, premiums, and license, permit, which proceedings must operate to prevent the collection thereof or other fees, and Other Impositions attributable to the Property. Borrower shall promptly discharge any lien which has, or may have, priority over or equality withrealization thereon, the lien sale or forfeiture of this Instrument (except for the Mortgages)Property or any portion thereof to satisfy the same; provided, however, that during such contest (i) Borrower shall be entitled to contest any such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessments, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwen, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrowerthe option of Lender, provide security reasonably satisfactory to Lender and sufficient in Lender's option, but subject reasonable judgment to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to cover the amount of the liencontested obligations, with interest on such obligations (to the extent interest would be due the obligee) for that period that such proceedings may reasonably be expected to take, and of any additional interest, charge, fine, penalty, fee or expense arising from or incurred as a result of such contest, (ii) the title company insuring the Property agrees to insure over any potential lien that may result from such contest, and (iii) if at any time the payment of any obligation imposed upon Borrower by this paragraph 4 shall become necessary to prevent (a) the delivery of a tax deed conveying the Property or any portion thereof, or (iib) provide a bond against the sale of the tax lien in such amount and in such manner as to discharge therefor because of non-payment or (c) the lien as an encumbrance against the Property. Without Ocwen's prior written permissionimposition of any penalty, except as otherwise permitted herein fine, charge, fee, cost or in any other Transaction Documentexpense on Lender, then Borrower shall not allow pay the same in sufficient time to prevent the occurrence of any lien, encumbrance, or other interest in of the Property inferior to the lien of this Instrument to be perfected against the Propertyforegoing.

Charges; Liens. Borrower Borrower(s) shall promptly pay, when due, all Condominium Assessments imposed by Custom House Leasehold Condominium Association, LLC or other governing body of Custom House Leasehold Condominium (the “Condominium Association”) pursuant to the provisions of the Master Deed, operating agreement and by-laws, rules and regulations or other constituent documents of Custom House Leasehold Condominium. Borrower(s) shall pay all water charges, fines and sewer rates, rents, taxes (not being diligently contested by Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Mortgage, in the manner provided under Paragraph 2 hereof or, if not paid in such manner, by Borrower(s) making payment, when due, directly to the payee thereof. Borrower Borrower(s) shall promptly furnish to Lender all notices of amounts due under this Paragraph, and in the event Borrower(s) shall make payment directly, Borrower(s) shall promptly furnish to Lender receipts evidencing such payments. Borrower(s) shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien of this Instrument (except for the Mortgages)Mortgage; provided, however, that Borrower Borrower(s) shall not be entitled required to contest discharge any such lien so long as Borrower(s) shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent and timely manner). With respect manner acceptable to liens filed for failure Lender and, if requested by Lender, immediately post with Lender an amount necessary to pay real property taxes and/or assessmentssatisfy said obligation, Borrower or shall be entitled in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to contest prevent the enforcement of the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. Borrower Borrower(s) shall promptly pay, when due, all Trust Assessments imposed by MVC Trust Owners Association, Inc., or other governing body of the Trust (the “Trust Association”) pursuant to the provisions of the Trust Agreement, Bylaws of the Trust Association, or other constituent documents of the Trust. Borrower(s) shall pay all water taxes, assessments and sewer ratesother charges, rents, taxes (not being diligently contested by Borrower in a timely manner fines and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Mortgage, in the manner provided under Paragraph 2 hereof or, if not paid in such manner, by Borrower(s) making payment, when due, directly to the payee thereof. Borrower Borrower(s) shall promptly furnish to Lender all notices of amounts due under this Paragraph, and in the event Borrower(s) shall make payment directly, Borrower(s) shall promptly furnish to Lender receipts evidencing such payments. Borrower(s) shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien of this Instrument (except for the Mortgages)Mortgage; provided, however, that Borrower Borrower(s) shall not be entitled required to contest discharge any such lien so long as Borrower(s) shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent and timely manner). With respect manner acceptable to liens filed for failure Lender and, if requested by Lender, immediately post with Lender an amount necessary to pay real property taxes and/or assessmentssatisfy said obligation, Borrower or shall be entitled in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to contest prevent the enforcement of the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. Borrower shall promptly pay, when due, all Condominium and Resort Owner Association Assessments imposed by the applicable Condominium or Resort Owners Association pursuant to the provisions of the declarations, bylaws, rules and regulations or other constituent documents applicable to the Property (the “Project Documents”). Borrower shall pay all water taxes, assessments and sewer ratesother charges, rents, taxes (not being diligently contested by Borrower in a timely manner fines and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Deed of Trust, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this Paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien this Deed of this Instrument (except for the Mortgages)Trust; provided, however, that Borrower shall not be entitled required to contest discharge any such lien so long as Borrower shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent manner acceptable to Lender and timely manner). With respect if requested by Lender, immediately post with Lender an amount necessary to liens filed for failure satisfy said obligation, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to pay real property taxes and/or assessments, Borrower shall be entitled to contest prevent the enforcement of such lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. Borrower Borrower(s) shall promptly pay, when due, all Condominium Assessments imposed by Eagle Tree Condominium Association, Inc., or other governing body of Eagle Tree Condominium (the “Condominium Association”) or Eagle Tree Property Owners’ Association, Inc., pursuant to the provisions of the Declaration, by-laws, rules and regulations or other constituent documents of Eagle Tree Condominium, as well as the Master Declaration of Covenants, Conditions, Easements and Restrictions, bylaws, rules and regulations or other constituent documents of the Eagle Tree Property Owners’ Association, Inc. Borrower(s) shall pay all water taxes, assessments and sewer ratesother charges, rents, taxes (not being diligently contested by Borrower in a timely manner fines and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Mortgage, in the manner provided under Paragraph 2 hereof or, if not paid in such manner, by Borrower(s) making payment, when due, directly to the payee thereof. Borrower Borrower(s) shall promptly furnish to Lender all notices of amounts due under this Paragraph, and in the event Borrower(s) shall make payment directly, Borrower(s) shall promptly furnish to Lender receipts evidencing such payments. Borrower(s) shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien of this Instrument (except for the Mortgages)Mortgage; provided, however, that Borrower Borrower(s) shall not be entitled required to contest discharge any such lien so long as Borrower(s) shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent and timely manner). With respect manner acceptable to liens filed for failure Lender and, if requested by Lender, immediately post with Lender an amount necessary to pay real property taxes and/or assessmentssatisfy said obligation, Borrower or shall be entitled in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to contest prevent the enforcement of the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. Borrower shall promptly pay, when due, all Club dues imposed by the WDL Vail Condominium Association, Inc. (the “Condominium Association”) or the WDL Vail Club Association, Inc. (the “Fractional Association”) pursuant to the provisions of the Condominium Declaration, or its associated bylaws, rules and regulations, the Fractional Declaration or its associated bylaws, rules and regulations, or other constituent documents applicable to the Property (collectively, the “Project Documents”). Borrower shall pay all water taxes, assessments and sewer ratesother charges, rents, taxes (not being diligently contested by Borrower in a timely manner fines and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Deed of Trust, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien this Deed of this Instrument (except for the Mortgages)Trust; provided, however, that Borrower shall not be entitled required to contest discharge any such lien so long as Borrower shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent manner acceptable to Lender and timely manner). With respect if requested by Lender, immediately post with Lender an amount necessary to liens filed for failure satisfy said obligation, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to pay real property taxes and/or assessments, Borrower shall be entitled to contest prevent the enforcement of such lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. (a) Borrower shall pay promptly when due, all water of the Charges, and sewer ratespromptly discharge any Liens, rentsencumbrances or other claims against the Collateral; provided, taxes (that Borrower shall not being diligently contested by be required to take such steps with respect to Collateral consisting of the underlying collateral for the SBA 7(a) Loans granted to Borrower in a timely manner and not otherwise paid by Ocwen from to secure the escrow fund therefore established and maintained pursuant to Section 4.7 obligations of the Term Loan Agreement)Debtors. Except for Liens in favor of Lender and any other Permitted Liens, premiumsif Borrower, and licenseat any time or times hereafter, permitshall fail to pay any Charges when due or promptly obtain the discharge of such Charges or of any Lien, claim or encumbrance asserted against the Collateral, subject to the provisions of Section 5.13(b) below, Lender may, without waiving or releasing any obligation or liability of Borrower hereunder or any Event of Default, in its sole discretion, at any time or times thereafter, make such payment, or other fees, and Other Impositions attributable to the Property. Borrower shall promptly discharge any lien which haspart thereof, or may have, priority over or equality with, the lien of this Instrument (except for the Mortgages)obtain such discharge and take any other action with respect thereto which Lender deems advisable; provided, however, that Borrower Lender shall not be entitled to contest any take such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With steps with respect to liens filed Collateral consisting of the underlying collateral for failure the SBA 7(a) Loans granted to pay real property taxes and/or assessmentsBorrower to secure the obligations of the Term Loan Debtors. All sums so paid by Lender and any expenses, Borrower including reasonable attorneys’ fees, court costs, expenses and other reasonable charges relating thereto, shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwenpayable, if the lien is in a face amount in excess of $100,000upon demand, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed to Lender and shall be additional Obligations hereunder secured by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the PropertyCollateral.

Charges; Liens. Borrower Borrower(s) shall promptly pay, when due, all Condominium Assessments imposed by Lakeshore Reserve Condominium Association, Inc. or other governing body of Lakeshore Reserve Condominium (the “Condominium Association”) pursuant to the provisions of the Declaration, by-laws, rules and regulations or other constituent documents of Lakeshore Reserve Condominium. Borrower(s) shall pay all water taxes, assessments and sewer ratesother charges, rents, taxes (not being diligently contested by Borrower in a timely manner fines and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Mortgage, in the manner provided under Paragraph 2 hereof or, if not paid in such manner, by Borrower(s) making payment, when due, directly to the payee thereof. Borrower Borrower(s) shall promptly furnish to Lender all notices of amounts due under this Paragraph, and in the event Borrower(s) shall make payment directly, Borrower(s) shall promptly furnish to Lender receipts evidencing such payments. Borrower(s) shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien of this Instrument (except for the Mortgages)Mortgage; provided, however, that Borrower Borrower(s) shall not be entitled required to contest discharge any such lien so long as Borrower(s) shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent and timely manner). With respect manner acceptable to liens filed for failure Lender and, if requested by Lender, immediately post with Lender an amount necessary to pay real property taxes and/or assessmentssatisfy said obligation, Borrower or shall be entitled in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to contest prevent the enforcement of the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. Borrower Borrower(s) shall promptly pay, when due, all Condominium Assessments imposed by HAB Condominium Association, Inc. or other governing body of HAB Condominium (the “Condominium Association”) pursuant to the provisions of the Declaration, Bylaws, Rules and Regulations or other constituent documents of HAB Condominium. Borrower(s) shall pay all water taxes, assessments and sewer ratesother charges, rents, taxes (not being diligently contested by Borrower in a timely manner fines and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Deed of Trust, in the manner provided under Paragraph 2 hereof or, if not paid in such manner, by Borrower(s) making payment, when due, directly to the payee thereof. Borrower Borrower(s) shall promptly furnish to Lender all notices of amounts due under this Paragraph, and in the event Borrower(s) shall make payment directly, Borrower(s) shall promptly furnish to Lender receipts evidencing such payments. Borrower(s) shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien this Deed of this Instrument (except for the Mortgages)Trust; provided, however, that Borrower Borrower(s) shall not be entitled required to contest discharge any such lien so long as Borrower(s) shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent and timely manner). With respect manner acceptable to liens filed for failure Lender and, if requested by Lender, immediately post with Lender an amount necessary to pay real property taxes and/or assessmentssatisfy said obligation, Borrower or shall be entitled in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to contest prevent the enforcement of the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. Borrower Borrower(s) shall promptly pay, when due, all Condominium Assessments imposed by SurfWatch Owners Association Inc. or other governing body of SurfWatch Horizontal Property Regime (the “Condominium Association”) pursuant to the provisions of the Master Deed, Time Sharing Declaration, By-Laws, Rules and Regulations or other constituent documents of SurfWatch Horizontal Property Regime. Borrower(s) shall pay all water taxes, assessments and sewer ratesother charges, rents, taxes (not being diligently contested by Borrower in a timely manner fines and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain a priority over this Mortgage, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower(s) making payment, when due, directly to the payee thereof. Borrower Borrower(s) shall promptly furnish to Lender all notices of amounts due under this Paragraph, and in the event Borrower(s) shall make payment directly, Borrower(s) shall promptly furnish to Lender receipts evidencing such payments. Borrower(s) shall promptly discharge any lien which has, or may have, has priority over or equality with, the lien of this Instrument (except for the Mortgages)Mortgage; provided, however, that Borrower Borrower(s) shall not be entitled required to contest discharge any such lien so long as Borrower(s) shall agree in good faith (provided Borrower contests writing to the payment of the obligation secured by such lien in a diligent and timely manner). With respect manner acceptable to liens filed for failure Lender and, if requested by Lender, immediately post with Lender an amount necessary to pay real property taxes and/or assessmentssatisfy said obligation, Borrower or shall be entitled in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to contest prevent the enforcement of the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement forfeiture of the contest. Upon written request from OcwenProperty or any part thereof and, if the lien is in a face requested by Lender, immediately post with Lender an amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, necessary to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in the Property inferior to the lien of this Instrument to be perfected against the Propertysatisfy said obligation.

Charges; Liens. Borrower shall pay all water and sewer rates, rents, taxes (not being diligently contested by Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions attributable to the PropertyProperty when due and in the manner provided under Section 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. If requested by GE CAPITAL in writing, Borrower shall promptly furnish to GE CAPITAL all notices of Impositions which become due, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to GE CAPITAL receipts evidencing such payments. Borrower shall promptly discharge any lien which has, or may have, priority over or equality with, the lien of this Instrument (except for the Mortgages); providedInstrument, however, that and Borrower shall be entitled pay, when due, the claims of all persons supplying labor or materials to contest any such lien or in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessments, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwen, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow connection with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without OcwenGE CAPITAL's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or lien other interest in the Property inferior to the lien of than this Instrument to be perfected against the Property. If any lien other than this Instrument is filed against the Property without GE CAPITAL's prior written permission and without the consent of Borrower, Borrower shall, within thirty (30) days after receiving notice of the filing of such lien either (a) cause such lien to be released of record and deliver evidence of such release to GE CAPITAL, or (b) if Borrower desires to contest the validity of such lien, either (i) obtain and deliver to GE CAPITAL a bond which operates under the laws of the State of Texas to release the Property from the claim evidenced by the lien, or (ii) deliver to GE CAPITAL such other security as GE CAPITAL deems necessary to protect GE CAPITAL and the Property from the foreclosure of such lien and to assure GE CAPITAL that the claim evidenced by the lien, and all costs and charges associated therewith, will be paid in full if Borrower does not prevail in such contest.

Charges; Liens. Uniform Covenant 4 of the Instrument ("Charges; Liens") is amended to add the following provisions at the end thereof: Provided that Borrower is not in breach of any of its covenants, obligations or agreements under this Instrument and no event of default has occurred and is continuing under the Note or any other Loan Document, Borrower shall not be required to pay all water and sewer rates, rents, taxes (not being diligently contested or discharge any obligation imposed upon Borrower by this paragraph 4 so long as Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 has given written notice of the Term Loan Agreement)same to Lender and is in good faith and at its sole cost and expense diligently contesting the same or the validity thereof by appropriate legal proceedings, premiums, and license, permit, which proceedings must operate to prevent the collection thereof or other fees, and Other Impositions attributable to the Property. Borrower shall promptly discharge any lien which has, or may have, priority over or equality withrealization thereon, the lien sale or forfeiture of this Instrument (except for the Mortgages)Property or any portion thereof to satisfy the same; provided, however, that during such contest (i) Borrower shall be entitled to contest any such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessments, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwen, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrowerthe option of Lender, provide security reasonably satisfactory to Lender and sufficient in Lender's option, but subject reasonable judgment to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to cover the amount of the liencontested obligations, with interest on such obligations (to the extent interest would be due the obligee) for that period that such proceedings may reasonably be expected to take, and of any additional interest, charge, fine, penalty, fee or expense arising from or incurred as a result of such contest, (ii) the title company insuring the Property agrees to insure over any potential lien that may result from such contest, and (iii) if at any time the payment of any obligation imposed upon Borrower by this paragraph 4 shall become necessary to prevent (a) the delivery of a tax deed conveying the Property or any portion thereof, or (iib) provide a bond against the sale of the tax lien in such amount and in such manner as to discharge therefor because of non-payment (c) the lien as an encumbrance against the Property. Without Ocwen's prior written permissionimposition of any penalty, except as otherwise permitted herein fine, charge, fee, cost or in any other Transaction Documentexpense on Lender, then Borrower shall not allow pay the same in sufficient time to prevent the occurrence of any lien, encumbrance, or other interest in of the Property inferior to the lien of this Instrument to be perfected against the Propertyforegoing.

Charges; Liens. Unless Lender shall be collecting (and Borrower shall pay all water and sewer rates, rents, taxes (not being diligently contested by Borrower in a timely manner and not otherwise have paid by Ocwen from the escrow fund therefore established and maintained as required) Impounds pursuant to Section 4.7 of the Term Loan Agreement)1.04 above, premiumsBorrower shall pay, at Borrower's cost and licenseexpense, permit, or other fees, and Other all Impositions attributable to the PropertyProperly, the Note, this Security Instrument, or any part thereof or interest therein by Borrower making or causing to be made payment, when due, directly to the payee thereof, or in such other manner as Lender may designate in writing. Borrower shall promptly discharge any lien which hasfurnish to Lender all notices of amounts due under this Section 1.06, or may have, priority over or equality with, the lien of this Instrument (except for the Mortgages); provided, however, that and if Borrower shall be entitled to contest any such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessments, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwen, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Propertymake payment directly, Borrower shall promptly notify Ocwen and, at Ocwen's request, shallfurnish to Lender receipts evidencing such payments. Borrower shall pay and promptly discharge, at Borrower's optioncost and expense, but subject all liens, encumbrances and charges upon, and the claims of all persons supplying labor or materials to or in connection with, the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lienProperty, or (ii) provide a bond against the lien in any part thereof or interest therein, without regard to whether such amount and in such manner as to discharge the lien as an encumbrance against the Property. Without Ocwen's prior written permission, except as otherwise permitted herein or in any other Transaction Document, Borrower shall not allow any lien, encumbrance, charge or other interest in the Property claim is or may be senior and superior to, equal with or junior and inferior to the lien of this Instrument Security Instrument. If Borrower shall fail to pay, remove and discharge any such lien, encumbrance, charge or claim, then in addition to any other right or remedy of Lender, Lender may, but shall not be obligated to, discharge the same, either by paying the amount claimed to be perfected against due or by procuring the discharge of such lien, encumbrance, charge or claim by depositing in a court a bond or the amount claimed or otherwise giving security for such claim, or by procuring such discharge in such manner as is or may be prescribed by law. Borrower shall, immediately upon demand therefor by Xxxxxx, pay to Lender an amount equal to all costs and expenses incurred by Lender in connection with the exercise by Lender of the foregoing right to discharge any such lien, encumbrance, charge or claim, together with interest thereon from the date of such expenditure at the Default Rate. Borrower shall give Lender prompt written notice of (a) the proposed creation of any county, municipal, quasi governmental or other improvement or special district of any nature or (b) any action in respect to such district, which may affect the Property, including, without limitation, any proposed service plan or modification of such plan, proposed organization of such district and election in regard to such organization, the proposed issuance of bonds by such district and election in regard to such issuance and the proposed inclusion of the Properly in any such district, and Borrower shall not consent to the creation of any such district or any such action in respect to such district without the prior written consent of Lender, which consent shall not be unreasonably withheld.

Charges; Liens. Uniform Covenant 4 of the Instrument ("Charges; Liens") is amended to add the following provisions at the end thereof: Provided that Borrower is not in breach of any of its covenants, obligations or agreements under this Instrument and no event of default has occurred and is continuing under the Note or any other Loan Document, Borrower shall not be required to pay all water and sewer rates, rents, taxes (not being diligently contested or discharge any obligation imposed upon Borrower by this paragraph 4 so long as Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 has given written notice of the Term Loan Agreement)same to Lender and is in good faith and at its sole cost and expense diligently contesting the same or the validity thereof by appropriate legal proceedings, premiums, and license, permit, which proceedings must operate to prevent the collection thereof or other fees, and Other Impositions attributable to the Property. Borrower shall promptly discharge any lien which has, or may have, priority over or equality withrealization thereon, the lien sale or forfeiture of this Instrument (except for the Mortgages)Property or any portion thereof to satisfy the same; provided, however, that during such contest (i) Borrower shall be entitled to contest any such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessments, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwen, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of credit, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrowerthe option of Lender, provide security reasonably satisfactory to Lender and sufficient in Lender's option, but subject reasonable judgment to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to cover the amount of the liencontested obligations, with interest on such obligations (to the extent interest would be due the obligee) for that period that such proceedings may reasonably be expected to take, and of any additional interest, charge, fine, penalty, fee or expense arising from or incurred as a result of such contest, (ii) the title company insuring the Property agrees to insure over any potential lien that may result from such contest, and (iii) if at any time the payment of any obligation imposed upon Borrower by this paragraph 4 shall become necessary to prevent (a) the delivery of a tax deed conveying the Property or any portion thereof, or (iib) provide a bond against the sale of the tax lien in such amount and in such manner as to discharge therefor because of non-payment, or (c) the lien as an encumbrance against the Property. Without Ocwen's prior written permissionimposition of any penalty, except as otherwise permitted herein fine, charge, fee, cost or in any other Transaction Documentexpense on Lender, then Borrower shall not allow pay the same in sufficient time to prevent the occurrence of any lien, encumbrance, or other interest in of the Property inferior to the lien of this Instrument to be perfected against the Propertyforegoing.

Charges; Liens. Borrower shall pay all water taxes, assessments, charges, fines and sewer rates, rents, taxes (not being diligently contested by Borrower in a timely manner and not otherwise paid by Ocwen from the escrow fund therefore established and maintained pursuant to Section 4.7 of the Term Loan Agreement), premiums, and license, permit, or other fees, and Other Impositions impositions attributable to the PropertyProperty which may attain priority over this Mortgage, and leasehold payments or ground rents, if any. Borrower shall pay these obligations directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which hashas priority over this Mortgage unless Xxxxxxxx: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to lender, (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender’s opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to the lender subordinating the lien to this Mortgage. If Lender determines that any part of the Property is subject to a lien which may have, attain priority over this Mortgage, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or equality withtake one or more of the actions set forth above within 10 days of the giving notice. Subordination to First Mortgage Lien: Mortgagee and Mortgagor acknowledge and agree that this Mortgage is subject and subordinate in all respects to the liens, terms, covenants and conditions of any mortgage granted to secure a private sector construction and/or bridge loan obtained by the organization from a local financial institution for purposes of partially financing the real property acquisition and financing construction/renovation activities (the “First Mortgage”) and to all advances heretofore made or which may hereafter be made pursuant to the First Mortgage including all sums advanced for the purpose of (a) protecting or further securing the lien of this Instrument the First Mortgage, curing defaults by the Mortgagor under the First Mortgage or for any other purpose expressly permitted by the First Mortgage or (except for the Mortgages); providedb) constructing, howeverrenovating, that Borrower shall be entitled to contest any such lien in good faith (provided Borrower contests such lien in a diligent and timely manner). With respect to liens filed for failure to pay real property taxes and/or assessmentsrepairing, Borrower shall be entitled to contest the lien only if Borrower pays the taxing or assessing authority sufficient funds to discharge the lien prior to commencement of the contest. Upon written request from Ocwenfurnishing, if the lien is in a face amount in excess of $100,000, Borrower shall provide a bond, letter of creditfixturing, or sufficient funds in an escrow account, to pay off the amount required to discharge the lien during the period of contest by Borrower (except for real property tax and/or assessment liens, which are governed by the foregoing sentence). If a mechanic's lien is filed against the Property, Borrower shall promptly notify Ocwen and, at Ocwen's request, shall, at Borrower's option, but subject to the right to contest hereinafter set forth, either (i) escrow with Ocwen or with the consent of Ocwen deposit in a court of competent jurisdiction a sum of money equal to the amount of the lien, or (ii) provide a bond against the lien in such amount and in such manner as to discharge the lien as an encumbrance against equipping the Property. Without Ocwen's prior written permissionThe terms and provisions of the First Mortgage are paramount and controlling, except as otherwise permitted and they supersede any other terms and provisions hereof in conflict therewith. In the event of a foreclosure or deed in lieu of foreclosure of the First Mortgage, any provisions herein or any provisions in any other Transaction Document, Borrower shall not allow any lien, encumbrance, or other interest in collateral agreement restricting the use of the Property inferior to low or moderate income households or otherwise restricting the lien Mortgagor's ability to sell the Property shall have no effect on subsequent owners or purchasers of this Instrument to be perfected against the Property.