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6.5. EDSR 08-20-2018
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6.5. EDSR 08-20-2018
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8/16/2018 11:25:07 AM
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533955v3 GAF EL185-57 <br />Mortgagor’s right to contest in good faith as set forth in Section 1.4 hereof; will keep the <br />Mortgaged Property free from levy, execution or attachment and will immediately pay when due <br />all indebtedness which may be secured by mortgage, lien or charge on the Mortgaged Property <br />and upon request will exhibit to Mortgagee satisfactory evidence of such payment and discharge. <br /> 1.4 Contest of Impositions, Liens and Levies. Mortgagor shall not be required to pay, <br />discharge or remove any Imposition, lien or levy so long as Mortgagor shall in good faith contest <br />the same or the validity thereof by appropriate legal proceedings which shall operate to prevent <br />the collection of the levy, lien or Imposition so contested and the sale of the Mortgaged Property, <br />or any part thereof to satisfy the same; provided, however, that Mortgagor, prior to the date such <br />levy, lien or Imposition is due and payable or, in the case of a mechanic’s lien or other <br />involuntary lien within (30) days after the same shall have been filed, shall have given such <br />reasonable security as may be demanded by Mortgagee to insure such payments and any <br />penalties and interest that may accrue thereon and prevent any sale or forfeiture of the <br />Mortgaged Property by reason of such nonpayment. Any such contest shall be prosecuted with <br />due diligence and Mortgagor shall promptly after final determination thereof pay the amount of <br />any such levy, lien or Imposition so determined, together with all interest and penalties, which <br />may be payable in connection therewith. Notwithstanding the provisions of this Section, <br />Mortgagor shall, and Mortgagee may, pay any such levy, lien or Imposition notwithstanding <br />such contest if in the reasonable opinion of Mortgagee, the Mortgaged Property is in jeopardy or <br />in danger of being forfeited or foreclosed. <br /> 1.5 Maintenance and Repairs; Inventory. Mortgagor agrees that it will keep and <br />maintain (or cause to be kept and maintained) the Mortgaged Property (including, without <br />limitation, the Equipment) in good condition and repair, free from any waste or misuse, and will <br />comply with all requirements of law, municipal ordinances and regulations, restrictions and <br />covenants affecting the Mortgaged Property and its use, and will promptly repair or restore any <br />buildings, improvements or structures now or hereafter on the Mortgaged Property which may <br />become damaged or destroyed. Mortgagor further agrees that without the prior consent of <br />Mortgagee it will not remove from the Mortgaged Property any or all of the Equipment or any <br />fixtures or any personal property that is included in the Mortgaged Property unless the same is <br />immediately replaced with like fixtures or personal property of at least equal value, or is <br />otherwise removable under Section 6.1 hereof; or expand any improvements on the Mortgaged <br />Property, erect any new improvements or make any material alterations in any improvements <br />which will materially alter the basic structure, materially and adversely affect the market value or <br />materially change the existing architectural character of the Mortgaged Property. Mortgagor <br />agrees that it will complete within a reasonable time any buildings now or at any time in the <br />process of erection on the Mortgaged Property. Mortgagor agrees not to acquiesce in any <br />rezoning classification, modification or restriction affecting the Mortgaged Property without <br />Mortgagee’s prior written consent. Mortgagor agrees that it will not abandon the Mortgaged <br />Property. Upon request of Mortgagee, Mortgagor shall deliver to Mortgagee an inventory in <br />detail reasonably acceptable to Mortgagee of any personal property owned by Mortgagor that is <br />included in the Mortgaged Property pursuant to the terms hereof together with a certification by <br />Mortgagor that said inventory is a true and complete schedule of the personal property to be <br />included in the Mortgaged Property pursuant to the terms hereof. Such inventory shall list any <br />conditional sales contracts and other title retention arrangements to which such personal property <br />may be subject.
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