PORTION OR BALANCE OF SAID IMPOSITION.
1.6
CONTEST OF IMPOSITIONS, LIENS AND LEVIES.
BORROWER SHALL NOT BE REQUIRED TO PAY, DISCHARGE OR REMOVE ANY IMPOSITION OR ANY
LIEN SO LONG AS THE BORROWER SHALL IN GOOD FAITH CONTEST THE SAME OR THE
VALIDITY THEREOF BY APPROPRIATE LEGAL PROCEEDINGS WHICH SHALL OPERATE TO PREVENT
THE COLLECTION OF THE LIEN OR IMPOSITION SO CONTESTED AND THE SALE OF THE
PREMISES, OR ANY PART THEREOF, TO SATISFY THE SAME, PROVIDED THAT THE BORROWER
SHALL, PRIOR TO THE DATE SUCH LIEN OR IMPOSITION IS DUE AND PAYABLE, HAVE GIVEN
SUCH REASONABLE SECURITY AS MAY BE DEMANDED BY THE
6
LENDER TO INSURE SUCH PAYMENTS PLUS INTEREST OR PENALTIES THEREON, AND PREVENT
ANY SALE OR FORFEITURE OF THE PREMISES BY REASON OF SUCH NONPAYMENT.
ANY SUCH
CONTEST SHALL BE PROSECUTED WITH DUE DILIGENCE AND THE BORROWER SHALL PROMPTLY
AFTER FINAL DETERMINATION THEREOF PAY THE AMOUNT OF ANY SUCH LIEN OR IMPOSITION
SO DETERMINED, TOGETHER WITH ALL INTEREST AND PENALTIES WHICH MAY BE PAYABLE IN
CONNECTION THEREWITH.
NOTWITHSTANDING THESE PROVISIONS BORROWER SHALL (AND IF
BORROWER SHALL FAIL SO TO DO, LENDER, MAY BUT SHALL NOT BE REQUIRED TO) PAY ANY
SUCH LIEN OR IMPOSITION NOTWITHSTANDING SUCH CONTEST IF IN THE REASONABLE
OPINION OF THE LENDER, THE PREMISES SHALL BE IN JEOPARDY OR IN DANGER OF BEING
FORFEITED OR FORECLOSED.
1.7
PROTECTION OF SECURITY.
BORROWER SHALL
PROMPTLY NOTIFY LENDER OF AND APPEAR IN AND DEFEND ANY SUIT, ACTION OR
PROCEEDING THAT AFFECTS THE PREMISES OR THE RIGHTS OR INTEREST OF LENDER
HEREUNDER AND THE LENDER MAY ELECT TO APPEAR IN OR DEFEND ANY SUCH ACTION OR
PROCEEDING.
BORROWER AGREES TO INDEMNIFY AND REIMBURSE LENDER FROM ANY AND ALL
LOSS, DAMAGE, EXPENSE OR COST ARISING OUT OF OR INCURRED IN CONNECTION WITH ANY
SUCH SUIT, ACTION OR PROCEEDING, INCLUDING COSTS OF EVIDENCE OF TITLE AND
REASONABLE ATTORNEY'S FEES AND SUCH AMOUNTS TOGETHER WITH INTEREST THEREON AT
THE NOTE RATE SHALL BECOME ADDITIONAL "INDEBTEDNESS SECURED HEREBY" AND SHALL
BECOME IMMEDIATELY DUE AND PAYABLE.
1.8
ANNUAL STATEMENTS.
BORROWER SHALL FURNISH
TO THE LENDER THE FINANCIAL STATEMENTS, AND SUCH OTHER INFORMATION, AS MAY BE
REQUIRED BY THE CREDIT AGREEMENT.
1.9
ADDITIONAL ASSURANCES.
BORROWER AGREES UPON
REASONABLE REQUEST BY THE LENDER TO EXECUTE AND DELIVER SUCH FURTHER
INSTRUMENTS, DEEDS AND ASSURANCES INCLUDING FINANCING STATEMENTS UNDER THE
UNIFORM COMMERCIAL CODE AND WILL DO SUCH FURTHER ACTS AS MAY BE NECESSARY OR
PROPER TO CARRY OUT MORE EFFECTIVELY THE PURPOSES OF THIS MORTGAGE AND WITHOUT
LIMITING THE FOREGOING, TO MAKE SUBJECT TO THE LIEN HEREOF ANY PROPERTY AGREED
TO BE SUBJECTED HERETO OR COVERED BY THE GRANTING CLAUSE HEREOF, OR INTENDED SO
TO BE.
BORROWER AGREES TO PAY ANY RECORDING FEES, FILING FEES, TAXES, OR OTHER
CHARGES ARISING OUT OF OR INCIDENT TO THE FILING OR RECORDING OF THIS MORTGAGE,
SUCH FURTHER ASSURANCES AND INSTRUMENTS AND THE ISSUANCE AND DELIVERY OF THE
NOTE.
1.10
TITLE.
BORROWER IS THE LAWFUL OWNER OF AND HAS A
GOOD AND MARKETABLE FEE SIMPLE ABSOLUTE TITLE TO THE