MORTGAGOR OF ITS OBLIGATIONS TO MAKE OR PROVIDE
FOR THE PAYMENT OF THE ANNUAL REAL PROPERTY TAXES AND OTHER ANNUAL CHARGES
REQUIRED TO BE DISCHARGED BY THE MORTGAGOR UNDER SECTION 7.1 HEREOF.
DURING THE
CONTINUANCE OF ANY EVENT OF DEFAULT, THE MORTGAGEE MAY, AT ITS OPTION, APPLY ALL
OR ANY PART OF THE SUMS HELD PURSUANT TO THIS SECTION 7.2 TO PAYMENT AND
PERFORMANCE OF THE SECURED OBLIGATIONS.
THE MORTGAGOR SHALL REDEPOSIT WITH THE
MORTGAGEE AN AMOUNT EQUAL TO ALL AMOUNTS SO APPLIED AS A CONDITION TO THE CURE,
IF ANY, OF SUCH EVENT OF DEFAULT IN ADDITION TO FULFILLMENT OF ANY OTHER
REQUIRED CONDITIONS.
SECTION 7.3
CERTAIN STATUTORY LIENS.
UNLESS AND TO THE EXTENT CONTESTED BY THE
MORTGAGOR IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE IX HEREOF, THE MORTGAGOR
SHALL TIMELY PAY, OR CAUSE TO BE PAID, ALL LAWFUL CLAIMS AND DEMANDS OF
MECHANICS, MATERIALMEN, LABORERS, GOVERNMENT AGENCIES ADMINISTERING WORKER'S
COMPENSATION INSURANCE, OLD AGE PENSIONS AND SOCIAL SECURITY BENEFITS AND ALL
OTHER CLAIMS, JUDGMENTS, DEMANDS OR AMOUNTS OF ANY NATURE WHICH, IF UNPAID,
MIGHT RESULT IN, OR PERMIT THE CREATION OF, A LIEN ON THE MORTGAGED PROPERTY OR
ANY PART THEREOF, OR WHICH MIGHT RESULT IN FORFEITURE OF ALL OR ANY PART OF THE
MORTGAGED PROPERTY.
SECTION 7.4
STAMP AND OTHER TAXES.
UNLESS AND TO THE EXTENT CONTESTED BY THE
MORTGAGOR IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE IX HEREOF, THE MORTGAGOR
SHALL PAY ANY UNITED STATES DOCUMENTARY STAMP TAXES, WITH INTEREST AND FINES AND
PENALTIES, AND ANY MORTGAGE RECORDING TAXES, WITH INTEREST AND FINES AND
PENALTIES, THAT MAY HEREAFTER BE LEVIED, IMPOSED OR ASSESSED UNDER OR UPON OR BY
REASON HEREOF OR THE SECURED OBLIGATIONS OR ANY INSTRUMENT OR TRANSACTION
AFFECTING OR RELATING TO EITHER THEREOF AND IN DEFAULT THEREOF THE MORTGAGEE MAY
ADVANCE THE SAME AND THE AMOUNT SO ADVANCED SHALL BE PAYABLE BY THE MORTGAGOR TO
THE MORTGAGEE IN ACCORDANCE WITH THE PROVISIONS OF SECTION 14.5 HEREOF.
SECTION 7.5
CERTAIN TAX LAW CHANGES.
IN THE EVENT OF THE PASSAGE AFTER THE
DATE HEREOF OF ANY LAW DEDUCTING FROM THE VALUE OF REAL PROPERTY, FOR THE
PURPOSE OF TAXATION, AMOUNTS IN RESPECT OF ANY LIEN THEREON OR CHANGING IN ANY
WAY THE LAWS FOR THE TAXATION OF MORTGAGES OR DEBTS SECURED BY MORTGAGES FOR
STATE OR LOCAL PURPOSES OR THE MANNER OF THE COLLECTION OF ANY CHARGES, AND
IMPOSING ANY CHARGES, EITHER DIRECTLY OR INDIRECTLY, ON THIS MORTGAGE, THE
INDENTURE OR ANY OTHER SECURITY DOCUMENT, THE MORTGAGOR SHALL PROMPTLY PAY TO
THE MORTGAGEE SUCH AMOUNT OR AMOUNTS AS MAY BE NECESSARY FROM TIME TO TIME TO
PAY ANY SUCH CHARGES.
SECTION 7.6
Proceeds of Tax Claim.
In the event that the proceeds of any tax
claim are paid after the Mortgagee has exercised its right to foreclose the Lien
hereof, such proceeds shall be paid to the Mortgagee to satisfy any deficiency
remaining after such foreclosure.
The Mortgagee shall retain its interest in
the proceeds of any tax claim during any redemption period.
The amount of any