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

Taxes, Assessments and Other Charges. Mortgagor shall pay and discharge (or cause the tenants of the Premises to pay and discharge) promptly, before the same shall become delinquent, all taxes, assessments, sewer rents, water rates and other charges of any kind now or hereafter levied or assessed upon the Mortgaged Property or any part thereof, or upon the Note, or upon the interest of Mortgagee in the Mortgaged Property (hereinafter collectively referred to as the “Impositions”); and upon request of Mortgagee, Mortgagor shall exhibit to Mortgagee receipts for the payment of all Impositions prior to the date when the same shall become delinquent. Mortgagor shall not be required to pay, discharge or remove any Imposition so long as Mortgagor contests in good faith such Imposition or the validity, applicability or amount thereof by an appropriate legal proceeding which operates to prevent the collection of such amounts and the sale of the Mortgaged Property or any portion thereof; provided, however, that prior to the date on which such Imposition would otherwise have become delinquent Mortgagor shall have given Mortgagee prior notice of such contest and deposited with Mortgagee an amount equal to at least 100 percent of the total of (1) the balance of such Imposition then remaining unpaid, and (2) all interest, penalties, costs and charges accrued or accumulated thereon. Mortgagor shall increase such deposit as and when necessary in order for such deposit to continue at all times to be not less than 100 percent of the total of such clauses (1) and (2). Any such contest shall be prosecuted with due diligence, and Mortgagor shall promptly pay the amount of such Imposition as finally determined, together with all interest and penalties payable in connection therewith. Mortgagee shall have the full power and authority to apply any amount deposited with Mortgagee under this Section to the payment of any unpaid Imposition in order to prevent the sale or forfeiture of the Mortgaged Property for non-payment thereof. Mortgagee shall bear no liability, however, for failure to so apply any amount deposited hereunder unless Mortgagor requests the application of such amount to the payment of the particular Imposition for which such amount was deposited. Any surplus retained by Mortgagee after payment of the Imposition for which a deposit was made shall be repaid to Mortgagor (without interest) unless an Event of Default (as hereafter defined) shall have occurred under the provisions of this Mortgage, in which case said surplus may be retained by Mortgagee to be applied to the Indebtedness in such order and manner as Mortgagee may reasonably determine. Notwithstanding any provision of this Section to the contrary, Mortgagor shall pay any Imposition which it might otherwise be entitled to contest if, in the sole discretion of Mortgagee, the Mortgaged Property is in jeopardy or in danger of being forfeited or foreclosed. If Mortgagor refuses to pay any such Imposition, Mortgagee may (but shall not be obligated to) make such payment and Mortgagor shall reimburse Mortgagee on demand with interest at the rate accruing on the Note.

Taxes, Assessments and Other Charges. If requested by Mortgagee, in addition to the monthly installment of interest and/or principal due to Mortgagee, Mortgagor shall pay and discharge to Mortgagee, on the payment date of installments due under the Note, until the Note is fully paid, a sum (or cause the tenants Escrow Payment) equal to one-twelfth (1/12) of the Premises annual real estate taxes, other municipal assessments and the estimated annual premiums for all insurance required hereunder (the Escrow Charges), with an initial deposit to cover the months which will have elapsed between the last date such taxes, charges and premiums were due and payable and the first date on which an installment shall be due hereunder. The Escrow Payments may be commingled with other funds of Mortgagee and no interest thereon shall be due of payable to Mortgagor. Mortgagee shall apply the Escrow Payments to the payment of the Escrow Charges in such order or priority as Mortgagee shall determine. If, at any time, the Escrow Payments theretofore paid to Mortgagee shall be insufficient for the payment of the Escrow Charges, Mortgagor, within ten (10) days after demand, shall pay the amount of the deficiency to Mortgagee. Mortgagor shall pay, prior to the accrual of any interest or penalties, without any deduction, defalcation or abatement, and dischargeshall furnish to Mortgagee proper receipts for, within five (5) promptly, before the same shall become delinquentdays after their respective due dates, all ground rents, taxes, assessments, water and sewer rents, water rates licenses or permit fees, and all other charges of or claims which may be assessed, levied charged, imposed or filed at any kind now or hereafter levied or assessed upon time against Mortgagor, the Mortgaged Property or any part thereof, or upon the Note, or upon against the interest of Mortgagee therein, by any governmental instrumentality or agency or other lawful authority or by any deed restriction, private agreement or declaration, recorded or otherwise, or which by any present or future law may have priority over the indebtedness secured hereby either in lien or in distribution out of the proceeds of any judicial sale. Mortgagor will pay, when due, all charges for utilities, whether public or private, used or consumed upon, in or in connection with the Mortgaged Property (hereinafter collectively referred to as the “Impositions”); and upon request of Mortgagee, Mortgagor shall exhibit to Mortgagee receipts for the payment of all Impositions prior to the date when the same shall become delinquent. Mortgagor shall not be required to pay, discharge or remove any Imposition so long as Mortgagor contests in good faith such Imposition or the validity, applicability or amount thereof by an appropriate legal proceeding which operates to prevent the collection of such amounts and the sale of the Mortgaged Property or any portion thereof; provided, however, that prior to the date on which such Imposition would otherwise have become delinquent Mortgagor shall have given Mortgagee prior notice of such contest and deposited with Mortgagee an amount equal to at least 100 percent of the total of (1) the balance of such Imposition then remaining unpaid, and (2) all interest, penalties, costs and charges accrued or accumulated thereon. Mortgagor shall increase such deposit as and when necessary in order for such deposit to continue at all times to be not less than 100 percent of the total of such clauses (1) and (2). Any such contest shall be prosecuted with due diligence, and Mortgagor shall promptly pay the amount of such Imposition as finally determined, together with all interest and penalties payable in connection therewith. Mortgagee shall have the full power and authority to apply any amount deposited with Mortgagee under this Section to the payment of any unpaid Imposition in order to prevent the sale or forfeiture of the Mortgaged Property for non-payment thereof. Mortgagee shall bear no liability, however, for failure to so apply any amount deposited hereunder unless Mortgagor requests the application of such amount to the payment of the particular Imposition for which such amount was deposited. Any surplus retained by Mortgagee after payment of the Imposition for which a deposit was made shall be repaid to Mortgagor (without interest) unless an Event of Default (as hereafter defined) shall have occurred under the provisions of this Mortgage, in which case said surplus may be retained by Mortgagee to be applied to the Indebtedness in such order and manner as Mortgagee may reasonably determine. Notwithstanding any provision of this Section to the contrary, Mortgagor shall pay any Imposition which it might otherwise be entitled to contest if, in the sole discretion of Mortgagee, the Mortgaged Property is in jeopardy or in danger of being forfeited or foreclosed. If Mortgagor refuses to pay any such Imposition, Mortgagee may (but shall not be obligated to) make such payment and Mortgagor shall reimburse Mortgagee on demand with interest at the rate accruing on the NoteProperty.

Taxes, Assessments and Other Charges. Mortgagor shall pay and discharge (or cause the tenants of the Premises to pay and discharge) promptly, before the same shall become delinquent, all taxes, assessments, sewer rents, water rates and other charges of any kind now or hereafter levied or assessed upon the Mortgaged Property or any part thereof, or upon the Note, or upon the interest of Mortgagee in the Mortgaged Property (hereinafter collectively referred to as the “Impositions”); and upon written request of Mortgagee, Mortgagor shall exhibit to Mortgagee receipts for the payment of all Impositions prior to the date when the same shall become delinquent. Mortgagor shall not be required to pay, discharge or remove any Imposition so long as Mortgagor contests in good faith such Imposition or the validity, applicability or amount thereof by an appropriate legal proceeding which operates to prevent the collection of such amounts and the sale of the Mortgaged Property or any portion thereof; provided, however, that prior to the date on which such Imposition would otherwise have become delinquent Mortgagor shall have given Mortgagee prior notice of such contest and deposited with Mortgagee an amount equal to at least 100 one hundred percent (100%) of the total of (1) the balance of such Imposition then remaining unpaid, and (2) all interest, penalties, costs and charges accrued or accumulated thereon. Mortgagor shall increase such deposit as and when necessary in order for such deposit to continue at all times to be not less than 100 one hundred percent (100%) of the total of such clauses (1) and (2). Any such contest shall be prosecuted with due diligence, and Mortgagor shall promptly pay the amount of such Imposition as finally determined, together with all interest and penalties payable in connection therewith. Mortgagee shall have the full power and authority to apply any amount deposited with Mortgagee under this Section to the payment of any unpaid Imposition in order to prevent the sale or forfeiture of the Mortgaged Property for non-payment thereof. Mortgagee shall bear no liability, however, for failure to so apply any amount deposited hereunder unless Mortgagor requests the application of such amount to the payment of the particular Imposition for which such amount was deposited. Any surplus retained by Mortgagee after payment of the Imposition for which a deposit was made shall be repaid to Mortgagor (without interest) unless an Event of Default (as hereafter defined) shall have occurred under the provisions of this Mortgage, in which case said surplus may be retained by Mortgagee to be applied to the Indebtedness in such order and manner as Mortgagee may reasonably determine. Notwithstanding any provision of this Section to the contrary, Mortgagor shall pay any Imposition which it might otherwise be entitled to contest if, in the sole discretion of Mortgagee, the Mortgaged Property is in jeopardy or in danger of being forfeited or foreclosed. If Mortgagor refuses to pay any such Imposition, Mortgagee may (but shall not be obligated to) make such payment and Mortgagor shall reimburse Mortgagee on demand with interest at the rate accruing on the Note.

Taxes, Assessments and Other Charges. If requested by Mortgagee, in addition to the monthly installment of interest and/or principal due to Mortgagee, Mortgagor shall pay and discharge to Mortgagee, on the payment date of installments due under the Note, until the Note is fully paid, a sum (or cause the tenants “Escrow Payment”) equal to one-twelfth (1/12) of the Premises annual real estate taxes, other municipal assessments and the estimated annual premiums for all insurance required hereunder (the “Escrow Charges”), with an initial deposit to cover the months which will have elapsed between the last date such taxes, charges and premiums were due and payable and the first date on which an installment shall be due hereunder. The Escrow Payments may be commingled with other funds of Mortgagee and no interest thereon shall be due of payable to Mortgagor. Mortgagee shall apply the Escrow Payments to the payment of the Escrow Charges in such order or priority as Mortgagee shall determine. If, at any time, the Escrow Payments theretofore paid to Mortgagee shall be insufficient for the payment of the Escrow Charges, Mortgagor, within ten (10) days after demand, shall pay the amount of the deficiency to Mortgagee. Mortgagor shall pay, prior to the accrual of any interest or penalties, without any deduction, defalcation or abatement, and dischargeshall furnish to Mortgagee proper receipts for, within five (5) promptly, before the same shall become delinquentdays after their respective due dates, all ground rents, taxes, assessments, water and sewer rents, water rates licenses or permit fees, and all other charges of or claims which may be assessed, levied charged, imposed or filed at any kind now or hereafter levied or assessed upon time against Mortgagor, the Mortgaged Property or any part thereof, or upon the Note, or upon against the interest of Mortgagee therein, by any governmental instrumentality or agency or other lawful authority or by any deed restriction, private agreement or declaration, recorded or otherwise, or which by any present or future law may have priority over the indebtedness secured hereby either in lien or in distribution out of the proceeds of any judicial sale. Mortgagor will pay, when due, all charges for utilities, whether public or private, used or consumed upon, in or in connection with the Mortgaged Property (hereinafter collectively referred to as the “Impositions”); and upon request of Mortgagee, Mortgagor shall exhibit to Mortgagee receipts for the payment of all Impositions prior to the date when the same shall become delinquent. Mortgagor shall not be required to pay, discharge or remove any Imposition so long as Mortgagor contests in good faith such Imposition or the validity, applicability or amount thereof by an appropriate legal proceeding which operates to prevent the collection of such amounts and the sale of the Mortgaged Property or any portion thereof; provided, however, that prior to the date on which such Imposition would otherwise have become delinquent Mortgagor shall have given Mortgagee prior notice of such contest and deposited with Mortgagee an amount equal to at least 100 percent of the total of (1) the balance of such Imposition then remaining unpaid, and (2) all interest, penalties, costs and charges accrued or accumulated thereon. Mortgagor shall increase such deposit as and when necessary in order for such deposit to continue at all times to be not less than 100 percent of the total of such clauses (1) and (2). Any such contest shall be prosecuted with due diligence, and Mortgagor shall promptly pay the amount of such Imposition as finally determined, together with all interest and penalties payable in connection therewith. Mortgagee shall have the full power and authority to apply any amount deposited with Mortgagee under this Section to the payment of any unpaid Imposition in order to prevent the sale or forfeiture of the Mortgaged Property for non-payment thereof. Mortgagee shall bear no liability, however, for failure to so apply any amount deposited hereunder unless Mortgagor requests the application of such amount to the payment of the particular Imposition for which such amount was deposited. Any surplus retained by Mortgagee after payment of the Imposition for which a deposit was made shall be repaid to Mortgagor (without interest) unless an Event of Default (as hereafter defined) shall have occurred under the provisions of this Mortgage, in which case said surplus may be retained by Mortgagee to be applied to the Indebtedness in such order and manner as Mortgagee may reasonably determine. Notwithstanding any provision of this Section to the contrary, Mortgagor shall pay any Imposition which it might otherwise be entitled to contest if, in the sole discretion of Mortgagee, the Mortgaged Property is in jeopardy or in danger of being forfeited or foreclosed. If Mortgagor refuses to pay any such Imposition, Mortgagee may (but shall not be obligated to) make such payment and Mortgagor shall reimburse Mortgagee on demand with interest at the rate accruing on the NoteProperty.

Taxes, Assessments and Other Charges. Mortgagor Effective as of the Rent Commencement Date, the Tenant shall pay be responsible for paying all real and discharge (or cause personal property taxes imposed with respect to the tenants Premises. Real property taxes for partial years at the beginning and end of the Term shall be prorated. In the event that the Premises is not a separate tax parcel, Tenant shall reimburse to Landlord its prorata share of real property taxes with Tenant’s share determined by multiplying the real property taxes for the Total Site by a fraction, the numerator of which is the land area of the Premises to pay (excluding the Nonexclusive Access Easement) and discharge) promptly, before the same shall become delinquent, all taxes, assessments, sewer rents, water rates and other charges denominator of any kind now or hereafter levied or assessed upon which is the Mortgaged Property or any part thereof, or upon land area of the Note, or upon the interest of Mortgagee in the Mortgaged Property (hereinafter collectively referred to as the “Impositions”); and upon request of Mortgagee, Mortgagor shall exhibit to Mortgagee receipts for the payment of all Impositions prior Total Site. Anything herein to the date when the same shall become delinquent. Mortgagor contrary notwithstanding, Tenant shall not be required to paypay (i) any franchise, discharge excise or remove income tax of Landlord, or estate, inheritance or death taxes with respect to Landlord’s estate or (ii) any Imposition so long as Mortgagor contests taxes on any equipment or other improvements installed or made by Landlord. Tenant, at its expense, may contest (by appropriate legal proceedings conducted in good faith such Imposition faith), the amount, validity or the validityapplication, applicability in whole or amount thereof by an appropriate legal proceeding which operates in part, of any tax or charge referred to prevent the collection of such amounts and the sale of the Mortgaged Property or any portion thereof; providedherein, however, provided that Tenant shall give Landlord prior to the date on which such Imposition would otherwise have become delinquent Mortgagor shall have given Mortgagee prior written notice of such contest and deposited with Mortgagee an amount equal to at least 100 percent of contest. Upon the total of (1) the balance completion of such Imposition then remaining unpaidproceedings, and (2) all interest, penalties, costs and charges accrued or accumulated thereon. Mortgagor Tenant shall increase such deposit as and when necessary in order for such deposit deliver to continue at all times to be not less than 100 percent Landlord proof of the total of such clauses (1) and (2). Any such contest shall be prosecuted with due diligence, and Mortgagor shall promptly pay the amount of the imposition as determined in such Imposition as finally determinedproceedings. Landlord, together on behalf of Tenant, and at Tenant’s sole expense, shall join in any such proceedings and cooperate with all interest and penalties payable in connection therewith. Mortgagee shall have the full power and authority to apply any amount deposited with Mortgagee under this Section Tenant to the payment of any unpaid Imposition in order to prevent the sale or forfeiture of the Mortgaged Property for non-payment thereofend that such proceedings. Mortgagee Tenant shall bear no liability, however, for failure to so apply any amount deposited hereunder unless Mortgagor requests the application of such amount to the payment of the particular Imposition for which such amount was deposited. Any surplus retained by Mortgagee after payment of the Imposition for which a deposit was made shall be repaid to Mortgagor (without interest) unless an Event of Default (as hereafter defined) shall have occurred under the provisions of this Mortgage, in which case said surplus may be retained by Mortgagee to be applied to the Indebtedness in such order and manner as Mortgagee may reasonably determine. Notwithstanding any provision of this Section to the contrary, Mortgagor shall pay any Imposition which it might otherwise be entitled to contest if, in the sole discretion any refund of Mortgagee, the Mortgaged Property is in jeopardy or in danger of being forfeited or foreclosed. If Mortgagor refuses to pay any such Imposition, Mortgagee may tax or penalties which accrue during the Term and have been paid by Tenant. XXX 0000/XXXXX Xxxxxxxxxxxxxx/Xxxxxx County 10870-000 Ground Lease (but shall not be obligated to) make such payment and Mortgagor shall reimburse Mortgagee on demand with interest at the rate accruing on the Note.Loudon County Property)

Taxes, Assessments and Other Charges. At Mortgagee's option, Mortgagor ------------------------------------ shall pay to Mortgagee at the time of each installment of principal and discharge interest due under the Note, and commencing with the first payment due after the date of such request, an amount which represents a sum equal to (or cause a) the tenants amount of the Premises to pay next installment of taxes and discharge) promptly, before the same shall become delinquent, all taxes, assessments, sewer rents, water rates and other charges of any kind now or hereafter assessments levied or assessed upon against the Mortgaged Property or any part thereofPremises, or upon and/or (b) the Notepremiums which will next become due on the insurance policies required by the Mortgage, or upon the interest of Mortgagee all in the Mortgaged Property (hereinafter collectively referred to amounts as the “Impositions”); and upon request of estimated by Mortgagee, Mortgagor shall exhibit to less all sums already paid therefor or deposited with Mortgagee receipts for the payment thereof, divided by the number of all Impositions payments to become due before one (1) month prior to the date when such taxes and assessments and/or premiums, as applicable, will become due, such sums to be held by Mortgagee to pay the same shall when due. If such escrow funds are not sufficient to pay such taxes and assessments and/or insurance premiums, as applicable, as the same become delinquent. due, Mortgagor shall not pay to Mortgagee, upon request, such additional amounts as Lender shall estimate to be required sufficient to pay, discharge or remove make up any Imposition so long as Mortgagor contests in good faith such Imposition or the validity, applicability or deficiency. No amount thereof by an appropriate legal proceeding which operates paid to prevent the collection Mortgagee hereunder shall be deemed to be trust funds but may be commingled with general funds of such amounts Mortgagee and the sale of the Mortgaged Property or any portion thereof; provided, however, that prior to the date on which such Imposition would otherwise have become delinquent Mortgagor no interest shall have given Mortgagee prior notice of such contest and deposited with Mortgagee an amount equal to at least 100 percent of the total of (1) the balance of such Imposition then remaining unpaid, and (2) all interest, penalties, costs and charges accrued or accumulated be payable thereon. Mortgagor shall increase such deposit as and when necessary in order for such deposit to continue at all times to be not less than 100 percent Upon the occurrence of the total of such clauses (1) and (2). Any such contest shall be prosecuted with due diligence, and Mortgagor shall promptly pay the amount of such Imposition as finally determined, together with all interest and penalties payable in connection therewith. Mortgagee shall have the full power and authority to apply any amount deposited with Mortgagee under this Section to the payment of any unpaid Imposition in order to prevent the sale or forfeiture of the Mortgaged Property for non-payment thereof. Mortgagee shall bear no liability, however, for failure to so apply any amount deposited hereunder unless Mortgagor requests the application of such amount to the payment of the particular Imposition for which such amount was deposited. Any surplus retained by Mortgagee after payment of the Imposition for which a deposit was made shall be repaid to Mortgagor (without interest) unless an Event of Default (as hereafter defined) that term is defined herein), Mortgagee shall have occurred under the provisions of right, at its sole discretion, to apply any amounts so held against the Liabilities (as that term is defined herein). If Mortgagor is not required to pay tax escrows pursuant to this Mortgage, in which case said surplus may be retained by Mortgagee to be applied to the Indebtedness in such order and manner as Mortgagee may reasonably determine. Notwithstanding any provision of this Section to the contrarySection, Mortgagor shall pay any Imposition which it might otherwise promptly provide to Mortgagee on a semi-annual basis (if such taxes or assessments are payable semi-annually) or on a quarterly basis (if such taxes or assessments are payable quarterly), copies of receipted tax bills, cancelled checks or other evidence satisfactory to Mortgagee evidencing that such taxes and assessments have been timely paid. Mortgagor agrees that all amounts currently held in escrow by Mortgagee in connection with this Mortgage shall be entitled to contest if, in included and considered part of the sole discretion escrow described above for all purposes. Following Mortgagor's full repayment of Mortgagee, the Mortgaged Property is in jeopardy or in danger of being forfeited or foreclosed. If Mortgagor refuses to pay any such ImpositionLoan, Mortgagee may (but shall return to Mortgagor any escrowed amount held by Mortgagee that is not required to be obligated to) make such payment and Mortgagor shall reimburse Mortgagee on demand with interest at the rate accruing on the Notepaid pursuant to this Section 1.3.