Common use of Payment of Taxes, Liens and Charges Clause in Contracts

Payment of Taxes, Liens and Charges. (a) Except as may be permitted by the Credit Agreement, Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Deed of Trust or any of the Loan Documents or to require an amount of taxes to be withheld or deducted therefrom, Grantor will promptly notify Beneficiary of such event. In such event Grantor shall (i) agree to enter into such further instruments as may be reasonably necessary or desirable to obligate Grantor to make any applicable additional payments and (ii) Grantor shall make such additional payments. (c) At any time that an Event of Default shall occur hereunder and be continuing, or if required by any law applicable to Grantor or to Beneficiary, Beneficiary shall have the right to direct Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable in

Payment of Taxes, Liens and Charges. (a) Except as may be permitted by the Credit AgreementFinance Documents, Grantor Trustor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use or possession thereofthereof (except such charges that are being contested in good faith by appropriate proceedings and for which Trustor has set aside on its books adequate reserves in accordance with GAAP). (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Deed of Trust or any of the Loan Finance Documents or to require an amount of taxes to be withheld or deducted therefrom, Grantor Trustor will promptly notify Beneficiary of such event promptly after it is informed of or otherwise acquires knowledge of such event. In such event Grantor Trustor shall (i) agree to enter into such further instruments as may be reasonably necessary or desirable to obligate Grantor Trustor to make any applicable additional payments and (ii) Grantor Trustor shall make such additional payments. (c) At any time that an Event of Actionable Default (as defined below) shall occur hereunder and be continuing, or if required by any law applicable to Grantor Trustor or to Beneficiary, Beneficiary shall have the right to direct Grantor Trustor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter semi-annually, each such deposit to be equal to one-half of any such annual charges estimated in a reasonable manner by Beneficiary in order to accumulate with Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges.

Payment of Taxes, Liens and Charges. (a) Except as may be ------------------------------------- permitted by the Credit Agreement, Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, in all cases, if imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Deed of Trust or any of the Loan Documents payments due hereunder or to require an amount of taxes to be withheld or deducted therefromherefrom, Grantor will promptly notify Beneficiary of such event. In such event Grantor shall (i) agree to enter into such further instruments as may be reasonably necessary or desirable to obligate Grantor to make any applicable additional payments and (ii) Grantor shall make such additional payments. (c) At any time that an Event of Default shall occur hereunder and be continuing, or if required by any law applicable to Grantor or to Beneficiary, Beneficiary shall have the right to direct Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter semi-annually, each such deposit to be equal to one-half of any such annual charges estimated in a reasonable manner by Beneficiary in order to accumulate with Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges.

Payment of Taxes, Liens and Charges. (a) Except as may be permitted by Section 5.3 of the Credit Agreement, Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Deed of Trust or any of the Loan Credit Documents or to require an amount of taxes to be withheld or deducted therefrom, Grantor will promptly notify Beneficiary of such event. In such event Grantor shall (i) agree to enter into such further instruments as may be reasonably necessary or desirable to obligate Grantor to make any applicable additional payments and (ii) Grantor shall make such additional payments. (c) At any time that an Event of Default shall occur hereunder and be continuing, or if required by any law applicable to Grantor or to Beneficiary, Beneficiary shall have the right to direct Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter semi-annually, each such deposit to be equal to one-half of any such annual charges estimated in a reasonable manner by Beneficiary in order to accumulate with Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges.

Payment of Taxes, Liens and Charges. (a) Except as may be ----------------------------------- permitted by the Credit Agreement, Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, in all cases, if imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Deed of Trust or any of the Loan Documents payments due hereunder or to require an amount of taxes to be withheld or deducted therefromherefrom, Grantor will promptly notify Beneficiary of such event. In such event Grantor shall (i) agree to enter into such further instruments as may be reasonably necessary or desirable to obligate Grantor to make any applicable additional payments and (ii) Grantor shall make such additional payments. (c) At any time that an Event of Default shall occur hereunder and be continuing, or if required by any law applicable to Grantor or to Beneficiary, Beneficiary shall have the right to direct Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter semi-annually, each such deposit to be equal to one-half of any such annual charges estimated in a reasonable manner by Beneficiary in order to accumulate with Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges.

Payment of Taxes, Liens and Charges. (a) Except as may be permitted by Section 6.5 of the Credit Agreement or Section 8.3(o) of the Participation Agreement, the Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use or possession thereof. (b) In the event of the passage of any state, Federalfederal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust Mortgage or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiarythe Beneficiary or the Trustee, either directly or indirectly, on this Deed of Trust Mortgage or any of the Loan Credit Documents or to require an amount of taxes to be withheld or deducted therefrom, the Grantor will promptly notify the Beneficiary of such event. In such event the Grantor shall (i) agree to enter into such further instruments as may be reasonably necessary or desirable to obligate the Grantor to make any applicable additional payments payments, and (ii) the Grantor shall make all such additional payments. (c) At any time that an Event of Default (as defined in Section 2.1 herein) shall occur hereunder and be continuinghereunder, or if required by any law applicable to the Grantor or to the Beneficiary, the Beneficiary shall have the right to direct the Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter semi-annually, each such deposit to be equal to one-half of any such annual charges reasonably estimated by the Beneficiary in order to accumulate with the Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges.

Payment of Taxes, Liens and Charges. (a) Except as may be permitted by Section 6.03 of the Credit AgreementAgreement and by Section 6.03 of the Tranche A Exchange Note Purchase Agreements, Grantor Mortgagor will pay and discharge from time to time prior to the time when the same shall become delinquentdue and payable, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, imposed upon or assessed against the Trust Mortgaged Property or any part thereof or upon the Rents from the Trust Mortgaged Property or arising in respect of the occupancy, use or possession thereof. At Mortgagee's option, Mortgagee will enter into a contract, at Mortgagor's reasonable expense, with a tax service firm who will provide to Mortgagee on or about the same times each year, receipts evidencing the payment of all such taxes, assessments, levies, fees and other public charges imposed upon or assessed against the Mortgaged Property. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust Mortgage or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by BeneficiaryMortgagee, either directly or indirectly, on this Deed of Trust Mortgage, the Notes, the Tranche A Exchange Notes or any of the Loan Documents or Tranche A Exchange Note Documents or to require an amount of taxes to be withheld or deducted therefrom, Grantor Mortgagor will promptly notify Beneficiary Mortgagee of such event. In such event Grantor Mortgagor shall (i) agree to enter into such further instruments instruments, including but not limited to new notes or new senior notes to be issued in exchange for the Notes or the Tranche A Exchange Notes theretofore issued, as may be reasonably necessary or desirable to obligate Grantor Mortgagor to make any applicable additional payments payments, and (ii) Grantor Mortgagor shall make such additional paymentspayments under the Notes or the Tranche A Exchange Notes. If Mortgagor is not permitted by law to do that which is required by the preceding sentence, Mortgagee shall be entitled to exercise any or all of its rights and remedies under the Loan Documents and/or the Tranche A Exchange Note Documents, including the right to accelerate the Obligations. (c) At any time that an Event of Default shall occur hereunder and be continuinghereunder, or if required by any law applicable to Grantor Mortgagor or to BeneficiaryMortgagee, Beneficiary Mortgagee shall have the right to direct Grantor Mortgagor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Mortgaged Property in advance and thereafter semiannually, each such deposit to be equal to one-half of any such annual charges estimated by Mortgagee in order to accumulate with Mortgagee sufficient funds to pay such taxes, assessments, insurance premiums and charges.

Payment of Taxes, Liens and Charges. (a) Except as may be to the extent they are being contested in the manner permitted by the Senior Credit Agreement, Grantor Mortgagor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, thereto (i) all taxes of every kind and nature, all assessments (general and special assessmentsspecial), water and sewer rents and/or charges, public or private impositions, levies, permitsdues, permit, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, public or private common area charges, private charges or maintenance charges, utility charges of every kind and nature which may become liens on the Mortgaged Property with priority over the lien of this Mortgage and (ii) all other material public or private charges, whether created or evidenced by recorded or unrecorded documents or of a like or different nature, imposed upon or assessed against the Trust Mortgaged Property or any part thereof or upon the Rents from the Trust Mortgaged Property or arising in respect of the occupancy, use use, operation or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust Mortgage or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by BeneficiaryMortgagee, either directly or indirectly, on this Deed of Trust Mortgage or any of the Senior Loan Documents Documents, or to require requiring an amount of taxes to be withheld or deducted therefrom, Grantor Mortgagor will promptly notify Beneficiary Mortgagee of such event. In such event Grantor event, (A) Mortgagor shall (i) agree at the request of Mortgagee, execute an instrument or agreement which obligates Mortgagor to enter into make such further instruments additional payments as may be reasonably necessary to place Mortgagor and the Senior Secured Parties in the same economic position they would have been in with respect to the Senior Loans and other Senior Obligations if such law, order, rule or desirable to obligate Grantor to make any applicable additional payments regulation had not been passed and (iiB) Grantor Mortgagor shall make such additional payments. (c) At any time that an Event of Default (as hereinafter defined) shall occur hereunder and be continuing, or if required by any law applicable to Grantor Mortgagor or to BeneficiaryMortgagee, Beneficiary Mortgagee shall have the right to direct Grantor Mortgagor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Mortgaged Property in advance and thereafter on a quarterly basis, each such deposit to be equal to one-quarter of any such annual charges estimated in a reasonable manner by Mortgagee in order to accumulate with Mortgagee sufficient funds to pay such taxes, assessments, insurance premiums and charges. Any such deposits held by Mortgagee shall be returned to Mortgagor within 30 days after this Mortgage is released or satisfied as provided in Section 3.04.

Payment of Taxes, Liens and Charges. (a) Except as may be to the extent they are being contested in the manner permitted by the Credit AgreementSecond Priority Debt Documents, Grantor Mortgagor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, (i) all taxes of every kind and nature, all assessments (general and special assessmentsspecial), water and sewer rents and/or charges, public or private impositions, levies, permitsdues, permit, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, public or private common area charges, private charges or maintenance charges, utility charges of every kind and nature which may become liens on the Mortgaged Property with priority over the lien of this Second Priority Mortgage and (ii) all other material public or private charges, whether created or evidenced by recorded or unrecorded documents or of a like or different nature, imposed upon or assessed against the Trust Mortgaged Property or any part thereof or upon the Rents from the Trust Mortgaged Property or arising in respect of the occupancy, use use, operation or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust Second Priority Mortgage or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by BeneficiaryMortgagee, either directly or indirectly, on this Deed of Trust Second Priority Mortgage or any of the Loan Documents Second Priority Debt Documents, or to require requiring an amount of taxes to be withheld or deducted therefrom, Grantor Mortgagor will promptly notify Beneficiary Mortgagee of such event. In such event Grantor event, (A) Mortgagor shall (i) agree at the request of Mortgagee, execute an instrument or agreement which obligates Mortgagor to enter into make such further instruments additional payments as may be reasonably necessary to place Mortgagor and the Second Priority Debt Parties in the same economic position they would have been in with respect to the Second Priority Debt Obligations if such law, order, rule or desirable to obligate Grantor to make any applicable additional payments regulation had not been passed and (iiB) Grantor Mortgagor shall make such additional payments. (c) At any time that an Event of Default (as hereinafter defined) shall occur hereunder and be continuing, or if required by any law applicable to Grantor Mortgagor or to BeneficiaryMortgagee, Beneficiary then in accordance with the terms of the Collateral Trust and Intercreditor Agreement, Mortgagee shall have the right to direct Grantor Mortgagor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Mortgaged Property in advance and thereafter on a quarterly basis, each such deposit to be equal to one-quarter of any such annual charges estimated in a reasonable manner by Mortgagee in order to accumulate with Mortgagee sufficient funds to pay such taxes, assessments, insurance premiums and charges. Any such deposits held by Mortgagee shall be returned to Mortgagor within 30 days after this Second Priority Mortgage is released or satisfied as provided in Section 3.04.

Payment of Taxes, Liens and Charges. (a) Except as may be to the extent they are being contested in the manner permitted by the Senior Credit Agreement, Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, (i) all taxes of every kind and nature, all assessments (general and special assessmentsspecial), water and sewer rents and/or charges, public or private impositions, levies, permitsdues, permit, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, public or private common area charges, private charges or maintenance charges, utility charges of every kind and nature which may become liens on the Trust Property with priority over the lien of this Deed of Trust and (ii) all other material public or private charges, whether created or evidenced by recorded or unrecorded documents or of a like or different nature, imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use use, operation or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Deed of Trust or any of the Senior Loan Documents Documents, or to require requiring an amount of taxes to be withheld or deducted therefrom, Grantor will promptly notify Beneficiary of such event. In such event (A) Grantor shall (i) agree at the request of Beneficiary, execute an instrument or agreement which obligates Grantor to enter into make such further instruments additional payments as may be reasonably necessary to place Grantor and the Senior Secured Parties in the same economic position they would have been in with respect to the Senior Loans and other Senior Obligations if such law, order, rule or desirable to obligate Grantor to make any applicable additional payments regulation had not been passed and (iiB) Grantor shall make such additional payments. (c) At any time that an Event of Default (as hereinafter defined) shall occur hereunder and be continuing, or if required by any law applicable to Grantor or to Beneficiary, Beneficiary shall have the right to direct Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter on a quarterly basis, each such deposit to be equal to one-quarter of any such annual charges estimated in a reasonable manner by Beneficiary in order to accumulate with Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges. Any such deposits held by Beneficiary shall be returned to Grantor within 30 days after this Deed of Trust is released or satisfied as provided in Section 3.04.

Payment of Taxes, Liens and Charges. (a) Except as may be to the extent they are being contested in the manner permitted by the Credit AgreementSecond Priority Debt Documents, Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, (i) all taxes of every kind and nature, all assessments (general and special assessmentsspecial), water and sewer rents and/or charges, public or private impositions, levies, permitsdues, permit, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, public or private common area charges, private charges or maintenance charges, utility charges of every kind and nature which may become liens on the Trust Property with priority over the lien of this Second Priority Deed of Trust and (ii) all other material public or private charges, whether created or evidenced by recorded or unrecorded documents or of a like or different nature, imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use use, operation or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Second Priority Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Second Priority Deed of Trust or any of the Senior Loan Documents Documents, or to require requiring an amount of taxes to be withheld or deducted therefrom, Grantor will promptly notify Beneficiary of such event. In such event (A) Grantor shall (i) agree at the request of Beneficiary, execute an instrument or agreement which obligates Grantor to enter into make such further instruments additional payments as may be reasonably necessary to place Grantor and the Second Priority Debt Parties in the same economic position they would have been in with respect to the Senior Loans and other Second Priority Debt Obligations if such law, order, rule or desirable to obligate Grantor to make any applicable additional payments regulation had not been passed and (iiB) Grantor shall make such additional payments. (c) At any time that an Event of Default (as hereinafter defined) shall occur hereunder and be continuing, or if required by any law applicable to Grantor or to Beneficiary, Beneficiary shall have the right to direct Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter on a quarterly basis, each such deposit to be equal to one-quarter of any such annual charges estimated in a reasonable manner by Beneficiary in order to accumulate with Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges. Any such deposits held by Beneficiary shall be returned to Grantor within 30 days after this Second Priority Deed of Trust is released or satisfied as provided in Section 3.04.

Payment of Taxes, Liens and Charges. (a) Except as may be permitted by the Credit Agreement, Grantor will pay and discharge from time to time prior to the time when the same shall become delinquent, and before any interest or penalty accrues thereon or attaches thereto, all taxes of every kind and nature, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether of a like or different nature, in all cases, if imposed upon or assessed against the Trust Property or any part thereof or upon the Rents from the Trust Property or arising in respect of the occupancy, use or possession thereof. (b) In the event of the passage of any state, Federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof (i) deducting from the value of real property for the purpose of taxation any lien or encumbrance thereon or in any manner changing or modifying the laws now in force governing the taxation of this Deed of Trust or debts secured by mortgages or deeds of trust (other than laws governing income, franchise and similar taxes generally) or the manner of collecting taxes thereon and (ii) imposing a tax to be paid by Beneficiary, either directly or indirectly, on this Deed of Trust or any of the Loan Documents payments due hereunder or to require an amount of taxes to be withheld or deducted therefromherefrom, Grantor will promptly notify Beneficiary of such event. In such event Grantor shall (i) agree to enter into such further instruments as may be reasonably necessary or desirable to obligate Grantor to make any applicable additional payments and (ii) Grantor shall make such additional payments. (c) At any time that an Event of Default shall occur hereunder and be continuing, or if required by any law applicable to Grantor or to Beneficiary, Beneficiary shall have the right to direct Grantor to make an initial deposit on account of real estate taxes and assessments, insurance premiums and common area charges, levied against or payable inin respect of the Trust Property in advance and thereafter semi-annually, each such deposit to be equal to one-half of any such annual charges estimated in a reasonable manner by Beneficiary in order to accumulate with Beneficiary sufficient funds to pay such taxes, assessments, insurance premiums and charges.