Common use of TAXES AND INSURANCE PREMIUMS Clause in Contracts

TAXES AND INSURANCE PREMIUMS. (a) Tenant shall pay as the same become due and payable, and in any event prior to the date on which the same become delinquent, all real estate taxes, ad valorem taxes, paving assessments, sewer, water and other utility charges or assessments and any other tax, charge or assessment, general or special, of any kind whatsoever (“Taxes”) which may be levied, charged, confirmed, imposed or assessed by any taxing or assessing authority against the Leased Premises or any part thereof or any improvements thereto or streets adjacent thereto during the Term, provided that all Taxes which are levied on an annual basis shall be prorated between Landlord and Tenant for the year in which this Lease commences and terminates. Tenant shall be responsible for any and all rollback or similar taxes which may be levied against the Leased Premises regardless of the time period for which the rollback tax applies. Tenant is not required to pay or reimburse Landlord for (i) any capital levy, income tax, or profits or margin tax of Landlord, or any similar tax imposed by the State of Texas or any other political or taxing authority, or (ii) any estate, inheritance, transfer, gift, or other tax which may be imposed upon any transfer of Landlord’s interest in the Leased Premises or the Base Rental. Tenant will provide Landlord with proof of payment of all Taxes within sixty (60) days after payment thereof. (b) Tenant shall pay on or before the date on which the same are due, all insurance premiums and other charges upon the insurance coverages which Tenant is required to maintain in force hereunder and all fees and other amounts due under any licenses, permits and similar documents relating to the Leased Premises. (c) Landlord agrees that Tenant shall have the right to contest the amount or legality of any Tax which it is obligated to pay under the terms of this Lease and make application for the reduction thereof or of any assessment upon which the same may be based; and Landlord agrees at the request of Tenant to execute or join in the execution of any instrument or document necessary in connection with such contest or application (including, without limitation, Comptroller of Public Accounts Form 50-162-1, “Appointment of Agent for Property Taxes”) provided Landlord does not thereby incur any liability (contingent or otherwise) and Landlord’s title to the Leased Premises is not thereby placed in jeopardy. Tenant shall in all events pay all such contested Taxes (together with all penalties, fines, interest and such other fees and amounts) at least thirty (30) days prior to the date on which the Leased Premises (or any portion thereof) are scheduled for any unstayed foreclosure on account of nonpayment thereof. Additionally, notwithstanding anything to the contrary, Tenant shall have the right to execute one or more agricultural leases or subleases covering all or any portion of any Site, authorizing the tenants or subtenants thereunder to perform grazing, farming or other agricultural activities on such Sites, provided, in each case, such lease may be terminated upon no more than one-years’ notice at no cost to Landlord.

TAXES AND INSURANCE PREMIUMS. (a) Tenant Grantor shall pay as the same become pay, when due and payable, and in any event prior to the date on which the same become delinquent, (i) all real estate taxes, ad valorem taxes, paving assessments, sewer, water and other utility charges or assessments and any other tax, charge or assessment, general or special, of any kind whatsoever (“Taxes”) which may be leviedand other charges levied on, chargedor assessed, confirmedplaced, imposed or assessed by any taxing or assessing authority made against the Leased Premises Real Property, this instrument, or the Secured Indebtedness or any part thereof interest of Grantee in the Real Property or any improvements thereto or streets adjacent thereto during the Term, provided that all Taxes which are levied on an annual basis shall be prorated between Landlord and Tenant for the year in which this Lease commences and terminates. Tenant shall be responsible for any and all rollback or similar taxes which may be levied against the Leased Premises regardless of the time period for which the rollback tax applies. Tenant is not required to pay or reimburse Landlord for (i) any capital levy, income tax, or profits or margin tax of Landlord, or any similar tax imposed by the State of Texas or any other political or taxing authority, or obligations secured hereby; (ii) any estatepremiums on policies of fire and other hazard insurance covering the Real Property, inheritanceas required in Article 3 herein; (iii) premiums for mortgage insurance, transfer, gift, if this Deed and the Notes are so insured; and (iv) ground rents or other tax lease rentals, if any, payable by Grantor. Grantor shall, from time to time upon the request of Grantee, promptly deliver to Grantee receipts showing payment in full of all of the above items. Upon notification from Grantee after any Event of Default (as hereinafter defined), Grantor shall pay to Grantee, together with and in addition to the payments of principal and interest payable under the terms of the Notes secured hereby, on the installment paying dates of the Notes, until said Notes are fully paid or until notification from Grantee to the contrary, an amount reasonably sufficient (as estimated by Grantee) to provide Grantee with funds to pay said taxes, assessments, insurance premiums, rents, and other charges next due so that Grantee will have sufficient funds on hand to pay same thirty (30) days before the date on which they become past due. In no event shall Grantee be liable for any interest on any amount paid to it as herein required, and the money so received may be imposed upon held and commingled with its own funds, pending payment or application thereof as herein provided. In the event Grantee exercises its right following any transfer such Event of Landlord’s interest in the Leased Premises or the Base Rental. Tenant will provide Landlord with proof of payment of all Taxes within sixty Default to require Grantor to pay such charges to Grantee, Grantor shall furnish to Grantee, at least thirty (6030) days after payment thereof. (b) Tenant shall pay on or before the date on which the same are will become past due, all an official statement of the amount of said taxes, assessments, insurance premiums premiums, and other rents next due, and Grantee shall pay said charges upon the insurance coverages which Tenant is required to maintain in force hereunder and all fees and other amounts due under any licenses, permits and similar documents relating to the Leased Premises. (c) Landlord agrees that Tenant amount of the then unused credit therefor as and when they become severally due and payable. An official receipt therefor shall have be conclusive evidence of such payment and of the right validity of such charges. Grantee may, at its option, pay any of these charges when payable, either before or after they become past due, without notice, or make advances therefor in excess of the then amount of credit for said charges. The excess amount advanced shall become part of the Secured Indebtedness, shall bear interest at the rate of interest specified in the Notes from date of advancement, and shall be due and payable to contest the amount or legality of any Tax which Grantee immediately upon demand by Grantee. Grantee may apply credits held by it is obligated to pay under the terms of this Lease and make application for the reduction thereof or of any assessment upon which the same may be based; and Landlord agrees at the request of Tenant to execute or join in the execution of any instrument or document necessary in connection with such contest or application (includingabove charges, without limitation, Comptroller of Public Accounts Form 50-162-1, “Appointment of Agent for Property Taxes”) provided Landlord does not thereby incur any liability (contingent or otherwise) and Landlord’s title to the Leased Premises is not thereby placed in jeopardy. Tenant shall in all events pay all such contested Taxes (together with all penalties, fines, interest and such other fees and amounts) at least thirty (30) days prior to the date on which the Leased Premises (or any portion part thereof) are scheduled for any unstayed foreclosure , on account of nonpayment any delinquent installments of principal or interest or any other payments maturing or due under this instrument, and the amount of credit existing at any time shall be reduced by the amount thereof paid or applied as herein provided. The amount of the existing credit hereunder at the time of any transfer of the Real Property shall, without assignment thereof. Additionally, notwithstanding anything inure to the contrarybenefit of the successor owner of the Real Property and shall be applied under and subject to all of the provisions hereof. Upon payment in full of the Secured Indebtedness, Tenant shall have the right to execute one or more agricultural leases or subleases covering all or any portion amount of any Site, authorizing unused credit shall be paid over to the tenants or subtenants thereunder person entitled to perform grazing, farming or other agricultural activities on such Sites, provided, in each case, such lease may be terminated upon no more than one-years’ notice at no cost to Landlordreceive it.

TAXES AND INSURANCE PREMIUMS. a In order to more fully protect the security of this Mortgage, if Mortgagee shall so elect at any time after the occurrence of any Event of Default or an event which with notice or lapse of time or both would constitute an Event of Default (a) Tenant as defined in Section 20), Mortgagor shall pay to Mortgagee, together with and in addition to each payment of interest required by the Note, one-twelfth (1/12th) of the amount (as estimated by Mortgagee) of the same become annual taxes and annual insurance premiums next becoming due and payablepayable with respect to the Mortgaged Property and the policies of insurance referred to in this Mortgage, and Mortgagor shall also pay to Mortgagee on demand therefor the amount by which the actual taxes and insurance premiums exceed payments actually made pursuant hereto. Any unpaid balance of advances by Mortgagee for taxes and/or insurance premiums shall bear interest at the Default Rate (as hereinafter defined) and, together with such interest, shall be secured by this Mortgage. b So long as Mortgagor is not in any event prior default hereunder, Mortgagee shall apply all of the payments received by it pursuant to this Section to the date relevant taxes and insurance premiums, but nothing herein shall obligate Mortgagee to apply such payments more often than semi-annually on which account of taxes or more often than annually on account of insurance premiums; provided, however, that if, before any such payments have been so applied to the same become delinquentpayment of taxes and/or insurance premiums, all real estate taxes, ad valorem taxes, paving assessments, sewer, water and other utility charges or assessments and any other tax, charge or assessment, general or special, of any kind whatsoever (“Taxes”) which may be levied, charged, confirmed, imposed or assessed by any taxing or assessing authority against the Leased Premises or any part thereof or any improvements thereto or streets adjacent thereto during the Term, provided that all Taxes which are levied on an annual basis Mortgagor shall be prorated between Landlord and Tenant for in default hereunder, Mortgagee may, at its sole option, apply any or all such amounts towards the year in which this Lease commences and terminates. Tenant shall be responsible for any and all rollback or similar taxes which may be levied against the Leased Premises regardless payment of the time period for which the rollback tax applies. Tenant is not required to pay or reimburse Landlord for (i) any capital levy, income tax, or profits or margin tax of Landlord, or any similar tax imposed by the State of Texas or any other political or taxing authority, or (ii) any estate, inheritance, transfer, gift, or other tax which may be imposed upon any transfer of Landlord’s principal and/or interest in the Leased Premises default. Mortgagor shall transmit to Mortgagee all relevant bills, notices or the Base Rental. Tenant will provide Landlord with proof of payment of all Taxes within sixty (60) days after payment thereof. (b) Tenant shall pay on invoices for taxes and assessments or before the date on which the same are due, all insurance premiums and other charges upon the insurance coverages which Tenant is required promptly after receipt thereof by Mortgagor. Mortgagee shall not be considered to maintain in force hereunder and all fees and other be a fiduciary with respect to any amounts due under any licenses, permits and similar documents relating paid to the Leased Premises. (c) Landlord agrees that Tenant shall have the right or received by it pursuant to contest the amount or legality of any Tax which it is obligated to pay under the terms of this Lease Section and make application shall not be liable for the reduction thereof or payment of any assessment upon which the same may be based; and Landlord agrees at the request of Tenant to execute or join in the execution of any instrument or document necessary in connection with such contest or application (including, without limitation, Comptroller of Public Accounts Form 50-162-1, “Appointment of Agent for Property Taxes”) provided Landlord does not thereby incur any liability (contingent or otherwise) and Landlord’s title to the Leased Premises is not thereby placed in jeopardy. Tenant shall in all events pay all such contested Taxes (together with all penalties, fines, interest and such other fees and amounts) at least thirty (30) days prior to the date on which the Leased Premises (or any portion thereof) are scheduled for any unstayed foreclosure on account of nonpayment thereof. Additionally, notwithstanding anything to the contrary, Tenant shall have the right to execute one or more agricultural leases or subleases covering all or any portion part of any Site, authorizing the tenants or subtenants thereunder to perform grazing, farming or other agricultural activities on such Sites, provided, in each case, such lease may be terminated upon no more than one-years’ notice at no cost to Landlordfunds.