the Mortgaged Property and the lien and priority of this Mortgage
against all claims and demands of all persons whomsoever, whether now existing
or hereafter arising, not listed in the Mortgage Policy.
The covenants and
warranties of this paragraph shall survive foreclosure of this Mortgage and
shall run with the Land.
The Mortgagor further covenants and agrees as follows:
1.
PAYMENT OF THE GUARANTEED OBLIGATIONS.
THE MORTGAGOR WILL DULY
AND PUNCTUALLY SATISFY THE GUARANTEED OBLIGATIONS, WHEN AND AS DUE AND PAYABLE
PER THE SUBSIDIARY GUARANTEE AGREEMENT.
2.
PAYMENT OF TAXES, ASSESSMENTS AND OTHER CHARGES.
SUBJECT TO
PARAGRAPH 7 RELATING TO CONTESTS, THE MORTGAGOR SHALL PAY WHEN DUE ALL TAXES AND
ASSESSMENTS AND ALL OTHER CHARGES WHATSOEVER LEVIED UPON OR ASSESSED OR PLACED
AGAINST THE MORTGAGED PROPERTY, EXCEPT THAT ASSESSMENTS MAY BE PAID IN
INSTALLMENTS SO LONG AS NO FINE OR PENALTY IS ADDED TO ANY INSTALLMENT FOR THE
NONPAYMENT THEREOF, AND WILL UPON DEMAND FURNISH TO MORTGAGEE PROOF OF SUCH
PAYMENT.
THE MORTGAGOR SHALL LIKEWISE PAY ANY AND ALL GOVERNMENTAL LEVIES OR
ASSESSMENTS SUCH AS MAINTENANCE CHARGES, OWNER ASSOCIATION DUES OR CHARGES OR
FEES, LEVIES OR CHARGES RESULTING FROM COVENANTS, CONDITIONS AND RESTRICTIONS
AFFECTING THE MORTGAGED PROPERTY, WHICH ARE ASSESSED OR IMPOSED UPON THE
MORTGAGED PROPERTY OR ANY PART THEREOF OR BECOME DUE AND PAYABLE, AND WHICH
CREATE, MAY CREATE OR APPEAR TO CREATE A LIEN UPON THE MORTGAGED PROPERTY, OR
ANY PART THEREOF.
THE MORTGAGOR SHALL LIKEWISE PAY ALL TAXES, ASSESSMENTS AND
OTHER CHARGES, LEVIED UPON OR ASSESSED, PLACED OR MADE AGAINST, OR MEASURED BY,
THIS MORTGAGE, OR THE RECORDATION HEREOF, OR THE GUARANTEED OBLIGATIONS.
IN THE
EVENT OF ANY LEGISLATIVE ACTION OR JUDICIAL DECISION AFTER THE DATE OF THIS
MORTGAGE, IMPOSING UPON THE MORTGAGEE THE OBLIGATION TO PAY ANY SUCH TAXES,
ASSESSMENTS OR OTHER CHARGES, OR DEDUCTING THE AMOUNT SECURED BY THIS MORTGAGE
FROM THE VALUE OF THE MORTGAGED PROPERTY FOR THE PURPOSE OF TAXATION, OR
CHANGING IN ANY WAY THE LAWS NOW IN FORCE FOR THE TAXATION OF MORTGAGES, DEEDS
OF TRUST OR DEBTS SECURED THEREBY, OR THE MANNER OF THE OPERATION OF ANY SUCH
TAXES SO AS TO AFFECT THE INTERESTS OF THE MORTGAGEE, THEN, AND IN SUCH EVENT,
THE MORTGAGOR SHALL BEAR AND PAY THE FULL AMOUNT OF SUCH TAXES, ASSESSMENTS OR
OTHER CHARGES.
MORTGAGOR WILL, UPON WRITTEN REQUEST OF THE MORTGAGEE, FURNISH
PROPER RECEIPTS EVIDENCING PAYMENTS MADE PURSUANT TO THIS PARAGRAPH 2.
UPON
MORTGAGOR'S FAILURE TO PAY THE TAXES AND ASSESSMENTS AS PROVIDED ABOVE,
MORTGAGEE IS HEREBY AUTHORIZED TO MAKE OR ADVANCE, IN THE PLACE AND STEAD OF
MORTGAGOR, ANY PAYMENT RELATING TO SUCH TAXES AND ASSESSMENTS, UNLESS SUCH TAXES
AND ASSESSMENTS ARE THEN BEING CONTESTED BY MORTGAGOR PURSUANT TO PARAGRAPH 7
HEREOF.
MORTGAGOR FURTHER COVENANTS TO HOLD HARMLESS AND AGREES TO INDEMNIFY
MORTGAGEE, ITS SUCCESSORS OR ASSIGNS, AGAINST ANY LIABILITY INCURRED BY REASON
OF THE IMPOSITION OF ANY MORTGAGE REGISTRATION TAX OR SIMILAR TAX ON THE
ISSUANCE OF THE SUBSIDIARY GUARANTY AGREEMENT OR THE RECORDING OF THIS MORTGAGE.
3.
PAYMENT OF UTILITY CHARGES.