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HomeMy WebLinkAbout2854 11 the Mortgaged Property, or the value of the Note or the Security Docu- ments, arising out of action or inaction by 14fortgagor. 4.11 CONTEST OF TAX ASSESSASEi~3TS, ETC. After prior written notice to A'Iortgagee, ~Iortgabor, at its own e:cpznse, may contest by appropriate legal proceedings, promptlY initiated and conducted in good faith and ~tiith . due diligence, the amount, validity or application, in ~vhole or in part, of (a) ~any of the Icgal requirements referred to in Subsection 42, or (b) any Imposition; provided that ( i) in the rase of any unpaid Imposition, such ~ proceedings shall suspend the collect;en thereof from '1lortgagor and from the Alortgaged Property, ( ii ) the 1lortgaaed Propert~• ~~~ill not be iii danger of being soid, forfeited, terminateci, cancelled or lost, ( iii ) the use of tl~e blortgaged Propert}~ for its present intended purpose or purposes «ill nat be lost or terminated, ( i~ ) 1lortgagor shall have set aside adequate reserves with respect thereto, and v) riortgagor shall have furnished such securi ,ty , ~ as may be required in the praceedings or as may be reasonably requested ~ by Mortgagee. E € 4.1`Z PERFOR\4ANCE OF LOAN ACREEMENT. ~1@ Mortgagor Wlll ~ cause the Improvements to be constructed in accordance with the terms ~ of the Loan Agreement, ~vill prosecute such construction with due diligence and complete same on or before the date of completion specified in the Loan Agreement, «~ill comgly with the covenant~ made by it in the Loan Agreement and will permit no Event of Default to occur as therein defined. ~ 4.13 EXPENSES. The A-tortgagor ~~zll pay or reimburse the Mortgagee ~ for all reasonable attorneys' fees, costs and expenses paid or incurred by the ~ ~ Mortgagee in any action, proceeding or dispute of any kind in which the ~ 1liortgagee is made a party or appeazs as party plaintiff or defendant, ~ affecting the Note, this 111ortgage, r4ortgagor, any Guarantor, or the n7ort- ~ gaged Propert}~, including but not limited to the foreclosure or other - ~ enforcement of this riortgage, an} condemnation action involving the ~ 141ortgaged Property, any action to protect the security hereof, or any " proceeding in probate or bankruptc}~, and an}~ such aroounts paid or in- ~ curred by the Atortgabee shall be added to the Indebtedncss, sl~a~l bcar interest at the rate specified in the \ote from date of payment and shall - ~ be secured by tl~e lien of this 1lortg~ge. ~ ~y Q.1~} PERFORMANCE OF THE CO~iDiITD1ENT. 114ortgagor shall timelq ~ ~ ~ ~ ~~~K208 r.~~~2853 ~ _ ry : : _ Zv'. ~ ,k ~ ~-9 .r "'~Cr'.t . ~.~G ~~t ~ de ~~e..,~_2-s'`~Y . . ~r-e~a`3 ~ v?~ _ . ~ ~~~r"~`4`,~°'~~°'~ z~.`-t~'-`.,~ . .