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the Mortgaged Property and the Project shall remain in good ;
repair and operating condition, and there shall be no default :
hereunder, the Company shall not be required to continue its ;
occupancy or operations at the Mortgaged Property.
The Company may, also at its own expense or in the manner
provided in Article VIII of this Agreement, make from time to time
any additions, modifications or improvements to the Mortgaged
Property or the Project it may deem desirable for its business
purposes that do not adversely affect the structural integrity
of the Project; provided that all such additions, modifications
and improvements shall be located wholly within the boundary lines
of the land described in Exhibit A and/or wholly within other
parcels of land in St. Lucie County that are hereafter conveyed
to the Issuer in the manner set forth in Section 2.07 hereof
and made a part of the Mortgaged Property. All such additions,
modifications and improvements so made by the Company shall become
a part of the Mortgaged Property and shall be subject to the :
Mortgage. '
The Company may from time to time, in its sole discretion~
and at its own expense, install, store or place additional
furniture, office equipment, automotive equipment and
inventory in or on the Mortgaged Property. Except when an
event of default as defined in Section 7.01 hereof shall have
occurred and be subsisting, all such furniture, office equipment,
automotive equipment and inventory so installed, stored or
placed on the Mortgaged Property by the Company shall remain
the sole property of the Company and shall not be subject to
any security interest in favor of the Zssuer, the bondholders
or the Trustee, Nothing contained in the preceeding provisions
of this Section shall prevent the Company from purchasing, but
not out of Bond proceeds, furniture, machinery and equipment =
on conditional sale contract or lease sale contract, or sub- ~
ject to a vendor's lien or purchase money mortgage as security
for the unpaid portion of the purchase price thereof, or from
leasing furniture, machinery and equipment. The Company shall
tag or otherwise suitably identify any furniture, machinery or
equipment so installed by it without expense to the Issuer and
not.constituting a part of the Project or the Mortgaged Property
so as to indicate the Company's ownership thereof.
The Company wi11 not permit any mechanics' or other
liens to remain against the Praject or the Mortgaged Property
for labor or materials furnished in connection with any additions,
modifications, improvements, repairs, renewals or replacements
so made by it; provided, that if tne Company shall first notify
the Trustee of its intention so to do, the Company may in good
faith contest any mechanics' or other liens filed or established
against the Project or the Mortgaged Property and in such event
may permit the items so contested to remain undischarged and
unsatisfied during the period of such contest and during the
applicable appeal period or the conduct of an appeal therefrom
unless the Trustee shall notify the Company that, in the opinion
of its counsel, by non-payment of any such items the Project or
the Mortgaged Property or any part thereof will be subject to :
immediate loss or forfeiture, in which event the Company shall '
promptly pay and cause to be satisfied and discharged all such
unpaid items. The Trustee wi1Z cooperate fully with the Company
in any such contest, provided that the Company shall undertake
to pay all costs and expenses incurred by the Trustee and to
indemnify the Trustee and save it harmless against any risks,
claims or liabilities arising out of such contest,
11 ~[!~3 ~E .
313 !3
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