Common use of PAYMENT OF LIENS, CHARGES AND ENCUMBRANCES Clause in Contracts

PAYMENT OF LIENS, CHARGES AND ENCUMBRANCES. To immediately pay and discharge from time to time when the same shall become due all lawful claims and demands of mechanics, materialmen, laborers and others which, if unpaid, might result in, or permit the creation of, a lien, charge or encumbrance upon the Property or any part thereof, or on the rents, issues, income, revenues, profits and proceeds arising therefrom and, in general, to do or cause to be done everything necessary so that the lien of this Security Deed shall be fully preserved at the cost of the Borrower, without expense to the Lender. Borrower shall have the right to contest, in good faith and in accordance with applicable laws and procedures, mechanic's and materialmen's liens filed against the Property; provided, however, that Borrower shall give written notice thereof to Lender, and Lender may at its sole option require Borrower to post a bond or other collateral satisfactory to Lender (and acceptable to the title company insuring the Security Deed) in connection with any such action by Borrower.

PAYMENT OF LIENS, CHARGES AND ENCUMBRANCES. To immediately pay and discharge from time to time when the same shall become due all lawful claims and demands of mechanics, materialmen, laborers and others which, if unpaid, might result in, or permit the creation of, a lien, charge or encumbrance upon the Property or any part thereof, or on the rents, issues, income, revenues, profits and proceeds arising therefrom and, in general, to do or cause to be done everything necessary so that the lien of this Security Deed Mortgage shall be fully preserved at the cost of the Borrower, without expense to the Lender. Borrower shall have the right to contest, in good faith faith, and in accordance with applicable laws and procedures, mechanic's mechanics' and materialmen's liens filed against the Property; provided, provided however, that Borrower shall give written notice thereof to Lender, and Lender may may, at its sole option option, require Borrower to post a bond or other collateral satisfactory to Lender (and acceptable to the title insurance company insuring the Security DeedMortgage) in connection with any such action by Borrower.

PAYMENT OF LIENS, CHARGES AND ENCUMBRANCES. To Borrower shall immediately pay and discharge from time to time when the same shall become due all lawful claims and demands of mechanics, materialmen, laborers and others whichthat, if unpaid, might result in, or permit the creation of, a lien, charge or encumbrance upon the Property or any part thereof, or on the rents, issues, income, revenues, profits and proceeds arising therefrom and, in general, to do or cause to be done everything necessary so that the lien of this Security Deed of Trust shall be fully preserved preserved, at the cost of the Borrower, without expense to the Lender. Borrower shall have the right to contest, in good faith and in accordance with applicable laws and procedures, mechanic's mechanics’ and materialmen's materialmens’ liens filed against the Property; provided, provided however, that Borrower shall give written notice thereof to Lender, and Lender may at may, in its sole option discretion, require Borrower to post a bond or other collateral satisfactory to Lender (and acceptable to the title insurance company insuring the Security Deedthis Deed of Trust) in connection with any such action by Borrower.