Common use of Payment of Taxes and Rates Clause in Contracts

Payment of Taxes and Rates. The Mortgagor and the Borrower will duly pay and discharge all rents, rates, taxes assessments and governmental charges from time to time levied upon the Mortgagor and the Borrower against any of their properties, businesses and operations prior to the date on which penalties become attached thereto, unless and to the extent only that the same shall be contested in good faith and by appropriate proceedings;