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~ by? the Co~npany upon the propertica crtortg,aged hereunder have beeh duly paid; and (3) tbat the Cobap~ny
i~ not in default under any of the oovenaute, tetme and pmvieions of t.hia indenture, or, in oaee of any
~ . aueh defsult, a ful! staternent ae to the nature thereof. Buoh oert,ifwa#s ehall ale~ state that ~li it~ursnce
. epeoified in Seotion 3.15 hereof ie iu foroe. , , s
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; - ~ 8~ox 3.09. The Company will not, dir~tly or indireotly, areata, aseume, inaur or suffer to exiat any i
= mortgage, pledge, encumbrance, lion or charge nf any ~Cind, oth~r than the lien of thia indentura atad other than
; any seco~id n~ortgage lieii hereafter oreatecl by the Company aa eecurity for not exceeding i2,500,000 of 4eneral
~ Aevelopment Corporation's prese~?tly existing indebtedness to banka and the lien of exiating purchase money
~ mortgages on certain non-utility properties not exececiing f 60,000 ih thci aggregate, vpon any af ita property.
~ . or a~ets of any character, whet~ier owned at the date~ hsreof or heccafter acquired, or upon any inooms or pra
_ «;eeeds therefrom, unfe~ detay in payment ~nd discharge thereaf be perraitted by ~ection 3.0? her~f, except
~ the fouowing, which ahalt be cansidered ss not materially unpairing the aeeurity hereof :
~ liena for taxes, assessments, or governmeutal charges for the then aurirant year or whiah sre
not yet dua or delinquent; . ~
; ~(b) lier~s for tax~, assesamenta or governmental charges aUeady due, but the validity of which i~ be-
_ ~ ing contestc~cl at the ticus in goai faith; • ~ ,
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, _ (u) lisns and charges irioidental to ourrent operation or oanstruQtion whiah are not due or delinqueut;~ ~
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r ~ (d) liens for workmen'a compensation awards not due or delinquent; ~ ~
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< ~ (e) pleciges or depnsite to eccure obligatioue of t,he Company under Workmen'e Compeneation Le~we
~ • or eimil~r legislation; . ~ .
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(f) good fsith deposits in connection with tendere, contract$ or I~ to whieh the Company ie n'
~ , F~Y; . .
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~ ~ ; . _(g) .deposits to secure publia or etatutory obligationa of the Company; . . ~ :
- de its to~ sectire surety, attaohineut or appeal bonde to ~vhich the Corin~ is a~ . -
~ _ - • ~ I~~ P~Y l~Yi . . ~
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~ . (i) undetermined liens and oharges, if any, incidental t,o conatruotaon; ~ . ~ - - , ,
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s_ •(j) any eaeemente, righte of way, restrictiona and reservations (other tban eaeenaente, tights af w~?y,
' restrictiona and reservations eec
uring ar constitiuting a lien or aharge for the ~yment of money or its
t~.~; equivalent} existing by operation of ]aw or otherwiae over, under, upon or against the mortgaged pragerty
~ or any part thereof; ~ . . . . . . ~ - ~
(k) slleys, street~ and highways that may run aems~ or enoroach upon lands forming a Fsrt of t6e
mortgaged ~ property; alBO -liens'cr~ated by othere than the Company on properLy with reapect to which
the Gompany owne ea~aement,e or righta of way Eor pipelin~; ' ; .
(1) liens arising out of judgmente or awar~ie against the Campauy with raspeet to ~rhich it absll
cwncurrently at the time be proeecuting an appeat ar grooeedings tor review ~ with r~~ to w'hiah
~ : . it shal! have.eeaured a~tay of execution pending $uch appeal or proceedinge for review; t'
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_ (m) liens or o~ther enoumbrances a~ to which caeh su~`ieient to gay or redeem all indebtedneee eeoured
' : thRreby ahall be held in Lruat for avch' Pw'Poeea bY the Trus~ee;
~ ' (n) $ouing laws and ordinanc~ee, easeiuente, reservationa, reetrictiona' ~nd eimilar enewribranoee,
~ exiating at the data hereof and. rene~eaL~ snd eubetitutiwna thereot, aud minor_defecta or irzegulAt~,
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4~ tiea of titie which; iu t~he opiiiion of counael, t?re uot auch.lia to ititertere with the proPer opei~ation of ttie
, mort6aged t~Pa~Y affeated thereby; ~id . ; . . . . .
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. (o) Pr~or Liens within the limit8tiona grovided in Seat}oa 3.20. - ~ . .
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~ ; ~ 10 '0 ~ .
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