5.1. HRSR 05-02-2005 - Laserfiche WebLink

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such personal property and fixtures (in a form satisfactory to Mortgagee) that Mortgagee may reasonably consider necessary or appropriate to perfect its interest. Mortgagor will pay to Mortgagee, on demand, the amount of any and all costs and expenses (including reasonable attorney's fees and legal expenses) paid or incurred by Mortgagee in connection with the exercise of any right or remedy referred to in Section 20 hereof. 18. PREPAYMENT. The Note provides that the Indebtedness may be prepaid in whole or part without the prior approval of Mortgagee in accordance with the prepayment provisions set forth in the Note, which provisions are incorporated herein by reference as if set forth in full herein. 19. EVENTS OF DEFAULT. Each of the following occurrences shall constitute an event of default hereunder (an "Event of Default"): (a) Mortgagor shall fail to pay the Note in accordance with its terms, or shall fail duly to perform or observe any of its covenants or commitments contained in this Mortgage, or in any other mortgage lien or other consensual security interest on the Mortgaged Property, whether or not authorized by Mortgagee, or in any other agreement incorporated herein, and such failure shall continue for thirty (30) calendar days (or with respect to other agreements incorporated herein, such failure shall not be cured within the number of days specified therein). (b) A responsible title insurance company shall fail duly to issue a policy or commitment for a policy of title insurance to or for the benefit of Mortgagee, free from exceptions for mechanic's and materialmen's liens, and other exceptions not previously approved by Mortgagee, insuring this Mortgage to be a valid lien (subject only to those exceptions, if any, previously enumerated herein) on the Land and related real property interests in an amount not less than the stated principal amount of the Note; or, if issued, any such policy or commitment shall be repudiated or revoked, or shall not be duly performed. (c) Any warranty of title made by Mortgagor in this Mortgage shall be broken. (d) Any representation or warranty made by Mortgagor in any of the agreements identified or referred to in Section 1 hereof, or in any financial statements or reports submitted to Mortgagee by or on behalf of Mortgagor, shall prove false or materially misleading. (e) Mortgagor shall make an assignment for the benefit of its creditors, or shall be dissolved, or shall commit an act of bankruptcy under the United States Bankruptcy Act (as Development Name, City LMIR-Combination Mortgage, Security Agreement and Fixture Financing Statement Dev. # 11 Date