Further Taxes. In the event of the passage, after the date of this Mortgage, of any applicable law deducting from the value of the Mortgaged Property for the purposes of taxation, any lien thereon, or changing in any way the laws now in force for the taxation of mortgages or debts secured by mortgages, or the manner of the collection of any such taxes, so as to affect this Mortgage, or imposing payment of the whole or any portion of any taxes, assessments or other similar charges against the Mortgaged Property upon Mortgagee, Mortgagor shall pay such tax or increased portion.
Further Taxes. In the event of the passage, after the date of this Deed of Trust, of any law deducting from the value of the Property, for the purposes of taxation, any lien thereon or security interest therein, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust and/or security agreements or debts secured by mortgages, deeds of trust and/or security agreements, or the manner of the collection of any such taxes, which has the effect of imposing payment of the whole or any portion of any taxes, assessments or other similar charges against the Property upon Beneficiary, the Secured Indebtedness shall immediately become due and payable at the option of Beneficiary; provided, however, that such election by Beneficiary shall be ineffective if prior to the due date thereof: (1) Grantor is permitted by law (including, without limitation, applicable interest rate laws) to, and actually does, pay such tax or the increased portion thereof (in addition to continuing to pay the Secured Indebtedness as and when due and payable); and (2) Grantor agrees with Beneficiary in writing to pay, or reimburse Beneficiary for the payment of any such tax or increased portion thereof when thereafter levied or assessed against the Property or any portion thereof. Any money paid by Beneficiary under this Section 1.04 shall be reimbursed to Beneficiary in accordance with Section 3.10 hereof.
Further Taxes. In the event of the passage, after the date of this Mortgage, of any law deducting from the value of the Property, for the purposes of taxation, any lien thereon or security interest therein, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust and/or security agreements or debts secured by mortgages, deeds of trust and/or security agreements, or the manner of the collection of any such taxes, which has the effect of imposing payment of the whole or any portion of any taxes, assessments or other similar charges against the Property upon Mortgagee, the Secured Indebtedness shall become due and payable at the option of Mortgagee upon ninety (90) days written notice to Mortgagor; provided, however, that such election by Mortgagee shall be ineffective if prior to the elapse of such 90-day period: (1) Mortgagor is permitted by law (including, without limitation, applicable interest rate laws) to, and actually does, pay such tax or the increased portion thereof (in addition to continuing to pay the Secured Indebtedness as and when due and payable); and (2) Mortgagor agrees with Mortgagee in writing to pay, or reimburse Mortgagee for the payment of, any such tax or increased portion thereof when thereafter levied or assessed against the Property or any portion thereof. Any money paid by Mortgagee under this Section 1.04 shall be reimbursed to Mortgagee in accordance with Section 3.10 hereof. If the Loan is accelerated pursuant to this Section 1.04 Note Prepayment Fee shall be payable in connection therewith.
Further Taxes. 10 1.1.84 GAAP ......................................................... 10 1.1.85
