Common use of To Maintain Priority of Lien Clause in Contracts

To Maintain Priority of Lien. 2.3.1. This Mortgage is and will be maintained as a valid first mortgage on the Mortgaged Premises, and the Mortgagor will not, directly or indirectly, create or suffer or permit to be created, or to stand against the Mortgaged Premises or any portion thereof, or against the rents, issues and profits therefrom, and will promptly discharge, any lien or charge prior to or upon a parity with or junior to this Mortgage other than the Permitted Encumbrances; provided, however, that the Mortgagor shall not be required to pay any Imposition prior to the time it shall become due and payable subject to the provisions of SECTION 2.4.1 hereof, and nothing herein contained shall prevent the Mortgagor from contesting the validity of any such Imposition in accordance with the provisions of SECTION 2.4.4. The Mortgagor will keep and maintain the Mortgaged Premises, and every part thereof, free from all liens or lien notices, of Persons supplying labor and/or materials in connection with any construction, alteration, repair, improvement or replacement of the Improvements or of the Building Service Equipment and Furnishings. If any such lien shall be filed against the Mortgaged Premises, or any part thereof, the Mortgagor promptly shall discharge the lien of record, by bonding or otherwise. The Mortgagor shall exhibit to the Mortgagee, upon request, appropriate receipts or other satisfactory evidence of the payment of the Impositions or any other item which may, if not paid, give rise to a lien against the Mortgaged Premises.

Appears in 2 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Corporate Realty Income Fund I L P), Mortgage, Assignment of Leases and Rents and Security Agreement (Corporate Realty Income Fund I L P)

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To Maintain Priority of Lien. 2.3.1. This Mortgage Trust Deed is and will be maintained as a valid first mortgage lien deed of trust on the Mortgaged Premises, and the Mortgagor Trustor will not, directly or indirectly, create or suffer or permit to be created, or to stand against the Mortgaged Premises or any portion thereof, or against the rents, issues and profits therefrom, and will promptly discharge, any lien or charge prior to or upon a parity with or junior to the lien of this Mortgage Trust Deed other than the Permitted Encumbrances; provided, however, that the Mortgagor Trustor shall not be required to pay any Imposition prior to the time it shall become due and payable subject to the provisions of SECTION 2.4.1 hereof, and nothing herein contained shall prevent the Mortgagor Trustor from contesting the validity of any such Imposition in accordance with the provisions of SECTION 2.4.4. The Mortgagor Trustor will keep and maintain the Mortgaged Premises, and every part thereof, free from all liens or lien notices, of Persons supplying FRK11626.A05 285741572 01/09/97 KDF: labor and/or materials in connection with any construction, alteration, repair, improvement or replacement of the Improvements or of the Building Service Equipment and Furnishings. If any such lien shall be filed against the Mortgaged Premises, or any part thereof, the Mortgagor Trustor promptly shall discharge the lien of record, by bonding or otherwise. The Mortgagor Trustor shall exhibit to the MortgageeBeneficiary, upon request, appropriate receipts or other satisfactory evidence of the payment of the Impositions or any other item which may, if not paid, give rise to a lien against the Mortgaged Premises.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (Corporate Realty Income Fund I L P)

To Maintain Priority of Lien. 2.3.1. This Mortgage Trust Deed is and will be maintained as a valid first mortgage lien deed of trust on the Mortgaged Premises, and the Mortgagor Trustor will not, directly or indirectly, create or suffer or permit to be created, or to stand against the Mortgaged Premises or any portion thereof, or against the rents, issues and profits therefrom, and will promptly discharge, any lien or charge prior to or upon a parity with or junior to the lien of this Mortgage Trust Deed other than the Permitted Encumbrances; provided, however, that the Mortgagor Trustor shall not be required to pay any Imposition prior to the time it shall become due and payable subject to the provisions of SECTION 2.4.1 hereof, and nothing herein contained shall prevent the Mortgagor Trustor from contesting the validity of any such Imposition in accordance with the provisions of SECTION 2.4.4. The Mortgagor Trustor will keep and maintain the Mortgaged Premises, and every part thereof, free from all liens or lien notices, of Persons supplying labor and/or materials in connection with any construction, alteration, repair, improvement or replacement of the Improvements or of the Building Service Equipment and Furnishings. If any such lien shall be filed against the Mortgaged Premises, or any part thereof, the Mortgagor Trustor FRK11622.A05 285741572 01/09/97 KDF: promptly shall discharge the lien of record, by bonding or otherwise. The Mortgagor Trustor shall exhibit to the MortgageeBeneficiary, upon request, appropriate receipts or other satisfactory evidence of the payment of the Impositions or any other item which may, if not paid, give rise to a lien against the Mortgaged Premises.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (Corporate Realty Income Fund I L P)

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To Maintain Priority of Lien. 2.3.1. This Mortgagor will maintain this Mortgage is and will be maintained as a valid first mortgage lien on the Mortgaged PremisesProperty subordinate to the Senior Mortgage, and the Mortgagor will not, directly or indirectly, create or suffer or permit to be created, or to stand against the Mortgaged Premises Property or any portion thereof, or against the rents, issues and profits Rents therefrom, and will promptly discharge, any lien or charge prior to or upon a parity with or junior to this Mortgage whatsoever other than the Permitted Encumbrances, whether prior to, upon a parity with, or junior to the lien of this Mortgage; provided, however, that the nothing herein contained shall require Mortgagor shall not be required to pay or cause to be paid any Imposition prior to the time it the same shall become due and payable subject to the provisions of SECTION 2.4.1 hereof, and nothing herein contained shall prevent the Mortgagor from contesting the validity of any such Imposition in accordance with the provisions of SECTION 2.4.4payable. The Mortgagor will keep and maintain the Mortgaged PremisesProperty, and every part thereof, free from all liens or lien notices, of Persons persons supplying labor and/or and materials in connection with any the construction, alteration, repair, improvement or replacement of the Improvements Improvements, the Equipment or of the Building Service Equipment and Furnishings. If any such lien liens shall be filed against the Mortgaged PremisesProperty, or any part thereof, the Mortgagor shall promptly shall release or discharge the lien same of record, by payment, bonding or otherwise. The Mortgagor shall exhibit , or otherwise provide security satisfactory to Mortgagee in Mortgagee’s sole discretion (acting upon the Mortgagee, upon request, appropriate receipts or other satisfactory evidence direction of the payment of the Impositions or any other item which mayLender), if not paid, give rise to a lien against the Mortgaged Premises.within thirty

Appears in 1 contract

Samples: Subordinate Mortgage, Security Agreement, Fixture Financing Statement and Assignment of Leases and Rents

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