Common use of Imposition of Tax Clause in Contracts

Imposition of Tax. In the event of the passage of any state, federal, municipal, or other governmental law, order, rule, or regulation in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds of trust or the manner of collecting taxes so as to affect adversely Mortgagee, Mortgagor will promptly pay any such tax on or before the due date; and if Mortgagor fails to make such prompt payment or if any such state, federal, municipal, or other governmental law, order, rule, or regulation prohibits Mortgagor from making such payment or would penalize Mortgagee if Mortgagor makes such payment, then the entire balance of the Obligations evidenced by the Note shall become due and payable upon demand at the option of Mortgagee.

Imposition of Tax. In the event of the passage of any state, federal, municipal, municipal or other governmental law, order, rulerule or regulation, or regulation in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds of trust mortgages or the manner of collecting taxes so as to affect adversely the Mortgagee, the Mortgagor will promptly pay any such tax on or before the due datedate thereof; and if the Mortgagor fails to make such prompt payment or if any such state, federal, municipal, municipal or other governmental law, order, rule, rule or regulation prohibits Mortgagor from making such payment or would penalize Mortgagee if Mortgagor makes such payment, then the entire balance of the Obligations evidenced by the Note Loan shall become due and payable upon demand at the option demand of the Mortgagee.

Imposition of Tax. In the event of the passage of any state, federal, municipal, municipal or other governmental law, order, rulerule or regulation, or regulation in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds of trust mortgages or the manner of collecting taxes so as to affect adversely the Mortgagee, the Mortgagor will promptly pay any such tax on or before the due datedate thereof; and if the Mortgagor fails to make such prompt payment or if any such state, federal, municipal, municipal or other governmental law, order, rule, rule or regulation prohibits the Mortgagor from making such payment or would penalize the Mortgagee if the Mortgagor makes such payment, then the entire balance of the Obligations evidenced by the Note Loan shall become due and payable upon demand at the sole option of the Mortgagee.