HomeMy WebLinkAbout0782 , v
Encumbrances As deCned in the Indenture. Notwithstanding any provision of
paragraph 3 or this paragraph 4, the Owner shall not be required to pay, discharge ,
or remove any tax, charge ~ levy , assessment or lien. or any other imposition or `
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encumbrance on or against the Original Hospital Property or any portion thereof , ;
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so long as the Owner shall , at its expense , contest the existence , amount or validity
thereof by appropriate proceedings which shall operate, during the continuance
thereof, to prevent the callection or satisfaction of the tax, charge, levy, assess-
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ment or lien , or other imposition or encumbrance so contested , and the sale of the
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Original Hospital Property or any portion thereof.to satisfy the same. ~
' S. If the possession , use ~ occupancy or title to the Original Hospital ~
Property or any portion thereof shall be condemned, confiscated, requisitioned ;
or otherwise taken or sold in , by or on account of any completed , pending or
threatened eminent domain proceedings or other action by any governmental
suthority or other person having the power of eminent domain, the award, compen-
sation or other payment on account thereof shall be payable to the 1liortgagees.
The Owner will execute such instruments and take such action as may be necessary =
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~ to enable the nlortgagees to receive any such award, compensation or other pay- ?
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6. Any of the following occurrences or acts shall constitute an "event ~
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of default" under this Mortgage : ~
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~ (a) if default shall be made in the due observance or performance
of any provision of this b'Iortgage; or
(b) if any Event of Default as defined in the Indentuxe shall exist. _
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7. If an event of default hereunder shall have continued for five- (5) days
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~ after notice specifying such event of default shall have been given to the Owner ;
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~ by the Trustee , the Trustee may elect to declare the entire principal of the Security ~
~ Note to be forthwith due and payable , and upon such declaration said principal ~
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~ shall become and be forthwith due and payable . In the event that any indebtedness ~
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$~oK283 P~~E 781 ;
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