Common use of Liens, Charges and Encumbrances Clause in Contracts

Liens, Charges and Encumbrances. Except for Permitted Encumbrances, Grantor will not suffer or permit any mechanics’ lien, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s receipt of notice of the recording of such lien. If Grantor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx xxxx in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any such claim.

Liens, Charges and Encumbrances. Except for (i) Permitted Encumbrances, (ii) the lien for ad valorem taxes on the Property which are not yet delinquent, (iii) other liens in favor of Beneficiary, and (iv) liens arising by operation of law securing debts that are not yet due and payable, Grantor will not suffer or permit any mechanics’ ' lien, voluntary or involuntary xxxxlien, xxxxlien, xxxxxxxxxxxencumbrance, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx lxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s 's receipt of notice of the recording of such lien. If Grantor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx lxxx xxxx in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any such claim.

Liens, Charges and Encumbrances. Except for Permitted Encumbrances, Grantor Mortgagor will not suffer or permit any construction lien, mechanics’ lien, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor Mortgagor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor Mortgagor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after GrantorMortgagor’s receipt of notice of the recording of such lien. If Grantor Mortgagor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx xxxx in the manner provided above, Beneficiary Mortgagee may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by BeneficiaryMortgagee, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust Mortgage and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary Mortgagee shall not be required to inquire into the validity or amount of any such claim.

Liens, Charges and Encumbrances. Except for Permitted Encumbrances, Grantor will not suffer or permit any mechanics’ lien, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s receipt of notice of the recording of such lien. If Grantor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx xxxx in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any such claim.