Common use of Payment of Taxes, Assessments and Other Charges Clause in Contracts

Payment of Taxes, Assessments and Other Charges. Subject to payments in the manner provided under paragraph 2 hereof and to paragraph 9 relating to contests, the Borrower shall pay before a penalty might attach for nonpayment thereof, all taxes and assessments and all other charges whatsoever levied upon or assessed or placed against the Mortgaged Property, except that assessments may be paid in installments so long as no fine or penalty is added to any installment for the nonpayment thereof. The Borrower shall likewise pay any and all governmental levies or assessments such as maintenance charges, owner association dues or charges or fees, levies or charges resulting from covenants, conditions and restrictions affecting the Mortgaged Property, which are assessed or imposed upon the Mortgaged Property or any part thereof or become due and payable, and which create, may create or appear to create a lien upon the Mortgaged Property, or any part thereof. The Borrower shall likewise pay all taxes, assessments and other charges, levied upon or assessed, placed or made against, or measured by, this Deed of Trust, or the recordation hereof, or the Indebtedness secured hereby. In the event of any legislative action or judicial decision after the date of this Deed of Trust, imposing upon the Lender the obligation to pay any such taxes, assessments or other charges, or deducting the amount secured by this Deed of Trust from the value of the Mortgaged Property for the purpose of taxation, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust or debts secured thereby, or the manner of the operation of any such taxes so as to affect the interests of the Lender, then, and in such event, the Borrower shall bear and pay the full amount of such taxes, assessments or other charges. Notwithstanding the foregoing provisions of this paragraph 4, if for any reason payment by the Borrower of any such taxes, assessments or other charges would be unlawful, or if the payment thereof would render the indebtedness evidenced by the Note usurious, the Lender may declare the whole sum secured by this Deed of Trust, with interest thereon, to be immediately due and payable. The Borrower shall promptly furnish to the Lender all notices received by the Borrower of amounts due under this paragraph and in the event the Borrower shall make payment directly, the Borrower shall promptly furnish to the Lender receipts evidencing such payments.

Payment of Taxes, Assessments and Other Charges. Subject to payments in the manner provided under paragraph 2 hereof and to paragraph 9 15 relating to contests, the Borrower Grantor shall pay before a penalty might attach for nonpayment thereof, all taxes and assessments and all other charges whatsoever levied upon or assessed or placed against the Mortgaged PropertyCollateral, except that assessments may be paid in installments so long as no fine or penalty is added to any installment for the nonpayment thereof. The Borrower Grantor shall likewise pay any and all governmental levies or assessments such as maintenance charges, owner association dues or charges or fees, levies or charges resulting from covenants, conditions and restrictions affecting the Mortgaged Property, which are assessed or imposed upon the Mortgaged Property or of any part thereof or become due and payable, and kind which create, may create or appear to create a lien upon the Mortgaged PropertyCollateral, or any part thereof. The Borrower Grantor shall likewise pay all taxes, assessments and other charges, charges levied upon or assessed, placed or made against, or measured by, this Deed of Trust, or the recordation hereof, or the Indebtedness Obligations secured hereby. In the event of any legislative action or judicial decision after the date of this Deed of Trust, imposing upon the Lender Beneficiary the obligation to pay any such taxes, assessments or other charges, or deducting the amount secured by this Deed of Trust from the value of the Mortgaged Property Collateral for the purpose of taxation, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust or debts secured thereby, or the manner of the operation of any such taxes so as to affect the interests of the LenderBeneficiary, then, and in such event, the Borrower Grantor shall bear and pay the full amount of such taxes, assessments or other charges. Notwithstanding the foregoing provisions of this paragraph 4, if for any reason payment by the Borrower of any such taxes, assessments or other charges would be unlawful, or if the payment thereof would render the indebtedness evidenced by the Note usurious, the Lender may declare the whole sum secured by this Deed of Trust, with interest thereon, to be immediately due and payable. The Borrower Grantor shall promptly furnish to the Lender Beneficiary all notices received by the Borrower Grantor of amounts due under this paragraph and in the event the Borrower shall make payment directly, the Borrower shall promptly furnish to the Lender Beneficiary receipts evidencing such payments. Notwithstanding the foregoing, Beneficiary is responsible for the foregoing matters to the extent provided in the Property Management Agreement while that agreement is in effect. and for all such matters which exist prior to the date hereof.

Payment of Taxes, Assessments and Other Charges. Subject to required payments in the manner provided under paragraph 2 5 hereof and to paragraph 9 8 relating to contests, the Borrower Mortgagor shall pay before a penalty might attach for nonpayment thereof, all taxes and assessments and all other charges whatsoever levied upon or assessed or placed against the Mortgaged Property, except that assessments may be paid in installments so long as no fine or penalty is added to any installment for the nonpayment thereof. The Borrower shall likewise pay any and all governmental levies or assessments such as maintenance charges, owner association dues or charges or fees, levies or charges resulting from covenants, conditions and restrictions affecting the Mortgaged Property, which are assessed or imposed upon the Mortgaged Property or any part thereof or become due and payable, and which create, may create or appear to create a lien upon the Mortgaged Property, or any part thereof. The Borrower Mortgagor shall likewise pay all taxes, assessments and other charges, levied upon or assessed, placed or made against, or measured by, this Deed of TrustMortgage, or the recordation hereof, or the Indebtedness secured hereby. In , provided that Mortgagor shall not be obliged to pay such tax, assessment or charge if such payment would be contrary to law or would result in the event payment of any legislative action or judicial decision after an unlawful rate of interest on the date of this Deed of Trust, imposing upon the Lender the obligation Indebtedness secured hereby; and provided further that nothing herein contained shall be construed as requiring Mortgagor to pay any such taxesnet income, assessments profits or other charges, or deducting the amount secured by this Deed revenue taxes of Trust from the value of the Mortgaged Property for the purpose of taxation, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust or debts secured thereby, or the manner of the operation of any such taxes so as to affect the interests of the Lender, then, and in such event, the Borrower shall bear and pay the full amount of such taxes, assessments or other chargesMortgagee. Notwithstanding the foregoing provisions of this paragraph 4, if for any reason payment by the Borrower of any such taxes, assessments or other charges would be unlawful, or if the payment thereof would render the indebtedness evidenced by the Note usurious, the Lender may declare the whole sum secured by this Deed of Trust, with interest thereon, to be immediately due and payable. The Borrower Mortgagor shall promptly furnish to the Lender Mortgagee all notices received by the Borrower Mortgagor of amounts due under this paragraph and in the event the Borrower Mortgagor shall make payment directly, the Borrower Mortgagor shall promptly furnish to the Lender Mortgagee receipts evidencing such payments.

Payment of Taxes, Assessments and Other Charges. Subject to payments in the manner provided under paragraph 2 hereof and to paragraph 9 10 relating to contests, the Borrower Mortgagor shall pay before a penalty might attach for nonpayment thereof, all taxes and assessments and all other charges whatsoever levied upon or assessed or placed against the Mortgaged Property, except that assessments may be paid in installments so long as no fine or penalty is added to any installment for the nonpayment thereof. The Borrower Mortgagor shall likewise pay any and all governmental levies or assessments such as maintenance charges, owner association dues or charges or fees, levies or charges resulting from covenants, conditions and restrictions affecting the Mortgaged Property, which are assessed or imposed upon the Mortgaged Property or any part thereof or become due and payable, and which create, may create or appear to create a lien upon the Mortgaged Property, or any part thereof. The Borrower Mortgagor shall likewise pay all taxes, assessments and other charges, levied upon or assessed, placed or made against, or measured by, this Deed of TrustMortgage, or the recordation hereof, or the Indebtedness secured hereby. In the event of any legislative action or judicial decision after the date of this Deed of TrustMortgage, imposing upon the Lender Mortgagee the obligation to pay any such taxes, assessments or other charges, or deducting the amount secured by this Deed of Trust Mortgage from the value of the Mortgaged Property for the purpose of taxation, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust or debts secured thereby, or the manner of the operation of any such taxes so as to affect the interests of the LenderMortgagee, then, and in such event, the Borrower Mortgagor shall bear and pay the full amount of such taxes, assessments or other charges. Notwithstanding the foregoing provisions of this paragraph 45, if for any reason payment by the Borrower Mortgagor of any such taxes, assessments or other charges would be unlawful, or if the payment thereof would render the indebtedness evidenced by the Note usurious, the Lender Mortgagee may declare the whole sum secured by this Deed of TrustMortgage, with interest thereon, to be immediately due and payable. The Borrower Mortgagor shall promptly furnish to the Lender Mortgagee all notices received by the Borrower Mortgagor of amounts due under this paragraph and in the event the Borrower Mortgagor shall make payment directly, the Borrower Mortgagor shall promptly furnish to the Lender Mortgagee receipts evidencing such payments.

Payment of Taxes, Assessments and Other Charges. (a) Subject to payments in the manner provided under paragraph 2 hereof and to paragraph 9 Section 1.07 relating to contests, the Borrower Mortgagor shall pay before a penalty might attach for nonpayment thereof, all taxes and assessments and all other charges whatsoever levied upon or assessed or placed against the Mortgaged Property, except that assessments may be paid in installments so long as no fine or penalty is added to any installment for the nonpayment thereof. The Borrower Mortgagor shall likewise pay any and all governmental levies or assessments such as maintenance charges, owner association dues or charges dues, charges, or fees, levies or charges resulting from covenants, conditions conditions, and restrictions affecting the Mortgaged Property, which are assessed or imposed upon the Mortgaged Property or any part thereof or become due and payable, and which create, may create create, or appear to create a lien upon the Mortgaged Property, or any part thereof. The Borrower Mortgagor shall likewise pay all taxes, assessments assessments, and other charges, levied upon or assessed, placed placed, or made against, or measured by, this Deed of TrustMortgage, or the recordation hereof, or the Indebtedness indebtedness secured hereby. In , provided that the event Mortgagor shall not be obliged to pay such tax, assessment, or charge if such payment would be contrary to law or would result in the payment of any legislative action or judicial decision after an unlawful rate of interest on the date of this Deed of Trust, imposing upon the Lender the obligation indebtedness secured hereby; and provided further that nothing herein contained shall be construed as requiring Mortgagor to pay any such taxesnet income, assessments or other chargesprofits, or deducting the amount secured by this Deed revenue taxes of Trust from the value of the Mortgaged Property for the purpose of taxation, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust or debts secured thereby, or the manner of the operation of any such taxes so as to affect the interests of the Lender, then, and in such event, the Borrower shall bear and pay the full amount of such taxes, assessments or other chargesMortgagee. Notwithstanding the foregoing provisions of this paragraph 4, if for any reason payment by the Borrower of any such taxes, assessments or other charges would be unlawful, or if the payment thereof would render the indebtedness evidenced by the Note usurious, the Lender may declare the whole sum secured by this Deed of Trust, with interest thereon, to be immediately due and payable. The Borrower Mortgagor shall promptly furnish to the Lender Mortgagee all notices received by the Borrower Mortgagor of amounts due under this paragraph and in the event the Borrower Mortgagor shall make payment directly, the Borrower Mortgagor shall promptly furnish to the Lender Mortgagee receipts evidencing such payments. (b) In the event the Mortgagor fails to comply with the terms of Section 1.03(a) or an “Event of Default” under the NOAH Loan Agreement has occurred that has not been cured within the applicable cure period, then at the written direction of the Mortgagee the Mortgagor shall, on or before the first day of each month, remit to the Mortgagee the amount necessary to pay any delinquent real estate taxes and installments of special assessments, and thereafter remit to the Mortgagee on the first day of each month an amount of money equal to one-twelfth of the real estate taxes and installments of special assessments next due and payable, plus, with and in addition to the first such monthly payment any additional amount which, together with monthly payments thereafter to be paid, will be sufficient to pay such real estate taxes and installments of special assessments in full as they become due. Such amounts shall be deposited in an interest-bearing account and all interest shall be applied to satisfy the amounts required to be so deposited.

Payment of Taxes, Assessments and Other Charges. Subject to payments in the manner provided under paragraph Paragraph 2 hereof and to paragraph Paragraph 9 relating to contests, the Borrower shall pay before a penalty might attach for nonpayment thereof, all taxes and assessments and all other charges whatsoever levied upon or assessed or placed against the Mortgaged Secured Property, except that assessments may be paid in installments so long as no fine or penalty is added to any installment for the nonpayment thereof. The Borrower shall likewise pay any and all governmental levies or assessments such as maintenance charges, owner association dues or charges or fees, levies or charges resulting from covenants, conditions and restrictions affecting the Mortgaged Secured Property, which are assessed or imposed upon the Mortgaged Secured Property or any part thereof or become due and payable, and which create, may create or appear to create a lien upon the Mortgaged Secured Property, or any part thereof. The Borrower shall likewise pay all taxes, assessments and other charges, levied upon or assessed, placed or made against, or measured by, this Deed of TrustDeed, or the recordation hereof, or the Indebtedness secured hereby. In the event of any legislative action or judicial decision after the date of this Deed of TrustDeed, imposing upon the Lender the obligation to pay any such taxes, assessments or other charges, or deducting the amount secured by this Deed of Trust from the value of the Mortgaged Secured Property for the purpose of taxation, or changing in any way the laws now in force for the taxation of mortgages, deeds of trust or debts secured thereby, or the manner of the operation of any such taxes so as to affect the interests of the Lender, then, and in such event, the Borrower shall bear and pay the full amount of such taxes, assessments or other charges. Notwithstanding the foregoing provisions of this paragraph Paragraph 4, if for any reason payment by the Borrower of any such taxes, assessments or other charges would be unlawful, or if the payment thereof would render the indebtedness evidenced by the Note usurious, the Lender may declare the whole sum secured by this Deed of TrustDeed, with interest thereon, to be immediately due and payablepayable sixty (60) days from the date such declaration is given to Borrower, without a prepayment premium. The Borrower shall promptly furnish to the Lender all notices received by the Borrower of amounts due under this paragraph and in the event the Borrower shall make payment directly, the Borrower shall promptly furnish to the Lender receipts evidencing such payments.