3. HRSR 05-16-2005 - Laserfiche WebLink

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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 now or hereafter amended), or shall admit in writing its inability to pay its debts as they become due, or shall file a petition in bankruptcy, or shall become or be adjudicated a bankrupt or insolvent, however defined, or shall file a petition seeking any reorganization, dissolution, liquidation, arrangement, composition, readjustment, or similar relief under any present or future bankruptcy or insolvency statute, law, or regulation or shall file an answer admitting to or not contesting the material allegations of a petition filed against it in such proceedings, or shall not, within thirty (30) days after the filing of such a petition against it, have the same dismissed or vacated, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver, or liquidator of a material part of its properties, or shall not, within thirty (30) days after the appointment (without its consent or acquiescence) of a trustee, receiver, or liquidator of any material part of its properties, have such appointment vacated. (f) Mortgagor shall abandon the Mortgaged Property. (g) Mortgagor shall fail to promptly and faithfully observe and perform all of the terms and provisions under, or permit or allow any default or event of default to occur under, any document evidencing any other lien or encumbrance of the Mortgaged Property, whether junior or senior to the lien of this Mortgage, which shall include, but not be limited to, the Permitted Encumbrances.