Common use of Deed of Trust Taxes Clause in Contracts

Deed of Trust Taxes. Trustor shall, at any time any law shall be enacted imposing or authorizing the imposition of any tax upon this Deed of Trust, or upon any rights, titles, liens or security interests created hereby, or upon the obligations secured hereby or any part thereof, immediately pay all such taxes; provided that, if such law as enacted makes it unlawful for Trustor to pay such tax, Trustor shall not pay nor be obligated to pay such tax, and in the alternative, Trustor may, in the event of the enactment of such a law, and must, if it is unlawful for Trustor to pay such taxes, prepay without penalty the obligations secured hereby in full within 60 days after demand therefor by Beneficiary.