7.5. SR 07-15-2013 - Laserfiche WebLink

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mortgagee the payment of the whole or any part of the Impositions herein required to be paid by the Mortgagor, or changing in any way the laws relating to the taxation of mortgages or debts secured by mortgages or a mortgagee's interest in mortgaged property, so as to impose such Imposition on the Mortgagee or on the interest of the Mortgagee in the Property, then, in any such event, Mortgagor shall bear and pay the full amount of such Imposition, provided that if for any reason payment by Mortgagor of any such Imposition would be unlawful, or if the payment thereof would constitute usury or render the Indebtedness Secured Hereby wholly or partially usurious, Mortgagee, at its option, may declare the whole sum secured by this Mortgage with interest thereon to be immediately due and payable, without prepayment premium, or Mortgagee, at its option, may pay that amount or portion of such Imposition as renders the Indebtedness Secured Hereby unlawful or usurious, in which event Mortgagor shall concurrently therewith pay the remaining lawful and non-usurious portion or balance of said Imposition. SECTION 1.5: Contest of Impositions, Liens and Levies. Mortgagor shall not be required to pay, discharge or remove any Imposition, or any lien or levy ("Lien or Levy") so long as the Mortgagor shall in good faith contest the same or the validity thereof by appropriate legal proceedings which shall operate to prevent the collection of the Levy, Lien or Imposition so contested and the sale of the Property, or any part thereof to satisfy the same, provided that the Mortgagor shall, prior to the date such Levy, Lien or Imposition is due and payable, have given such reasonable security as may be demanded by the Mortgagee to insure such payments and prevent any sale or forfeiture of the Property by reason of such non-payment. Any such contest shall be prosecuted with due diligence and the Mortgagor shall promptly after final determination thereof pay the amount of any such Levy, Lien or Imposition so determined, together with all interest and penalties, which may be payable in connection therewith. Notwithstanding the provisions of this Section, Mortgagor shall (and if Mortgagor shall fail so to do, Mortgagee may but shall not be required to) pay any such Levy, Lien or Imposition notwithstanding such contest if in the reasonable opinion of the Mortgagee the Property shall be in jeopardy or in danger of being forfeited or foreclosed. SECTION 1.6: Protection of Security. Mortgagor agrees to promptly notify Mortgagee of and appear in and defend any suit, action or proceeding that materially affects the value of the Property, the Indebtedness Secured Hereby or the rights or interest of Mortgagee hereunder, unless such action was commenced by Mortgagee in which case no notice to Mortgagee is necessary. The Mortgagee may elect to appear in or defend any such action or proceeding and, except in the case of an action commenced by Mortgagee, Mortgagor agrees to indemnify and reimburse Mortgagee 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 attorneys' fees. SECTION 1.7: Additional Assurances. Mortgagor agrees upon reasonable request by the Mortgagee to execute and deliver such further instruments 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. Mortgagor agrees to pay any recording fees, filing fees, stamp taxes or other charges arising out of or incident to the filing or recording of the Mortgage, such further assurances and instruments and the issuance and delivery of the Note. 171419vi 23