Common use of Payment and Discharge of Liens Clause in Contracts

Payment and Discharge of Liens. Owner shall pay, when due, all claims of every kind and nature which might or could become a lien on the Property or any part thereof and shall not, at any time, create or allow to exist any lien on the Property or any part thereof of whatsoever kind or nature, other than this Deed of Trust and the Restrictive Covenants, except the following: a. liens for taxes and assessments which are not delinquent although by law are given the status of a lien; or b. liens for taxes and assessments which are being contested by Owner in good faith and by appropriate legal proceedings and for which Owner has posted such security for the payment of such contested claims as is requested by THDA; or c. the permitted encumbrances listed on Exhibit B, which is attached hereto and incorporated herein by this reference.

Payment and Discharge of Liens. Property Owner shall pay, when due, all claims of every kind and nature which might or could become a lien on the Property or any part thereof and shall not, at any time, create or allow to exist any lien on the Property or any part thereof of whatsoever kind or nature, other than this Deed of Trust and the Restrictive CovenantsTrust, except the following: a. (a) liens for taxes and assessments which are not delinquent although by law are given the status of a lien; orand b. (b) liens for taxes and assessments which are being contested by the Property Owner in good faith and by appropriate legal proceedings and for which Property Owner has posted such security for the payment of such contested claims as is requested by THDA; or c. the permitted encumbrances listed on Exhibit B, which is attached hereto and incorporated herein by this reference.