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Home My WebLink About0971 i i ~ . ~ ! ~ ~ i F ' ~i 1.16 Leqal Actions. In the event that Mortgagee is involuntari,Iy made a party in any action or proceeding affecting the Mortgaged Property, the Secured Indebtedness, or the validity or priority of this Mortgage, Mortgagor shall immediately, upon _ demand, reimburse Mort4agee for all costs, expenses and ~ liabilities incurred by Mortgagee by reason of any such action or proceeding, including reasonable attorneys' fees, and any such amounts paid by Mortgagee shall be added to the Secured Indebtedness and shall be secured by this Mortgage. I ARTICLE TWO i DEFAULTS ~ 2.01- Event of Default. The term "Event of Default", •I wherever used in this Mortgage, shall mean any one or more of the i following events and each of the following events shall constitute an event of default hereunder: i (a) Failure by Mortgagor to pay or cause to be paid as and when due and payable, any portion of the Secured Indebtedness; or (b) Failure by Mortgagor ~o perform or observe any of the covenants, agreements or conditions on the part of Mortgagor• set forth in~Sections 1.02, 1.I4 or 1.i5 hereaf; or i ~ (c} Failure by Mortgagor to perform or observe any of ' the covenants, agreements or conditions on the part of Mortgagor ~ ~ in this instrument other than as described in clauses (a) and ~ (b), and such failure is not cured within thirty (30) days after receipt by riortgagor of written notice of such default from i Mortgagee; or (d) Any claim of priority to this Mortqage, by title, I lien or otherwise is assserted in any legal or equitable proceeding; or ~ j (e) The occurrence of an "event of default" under the ' Loan Agreement, the I;~denture, the R~eimbursement Agreement or the Guaranty (as defined in the Reimbursement Agreement). 2.02 Acceleration of Maturitv. If an Event of Default il shall have occurred and be continuing, or if Bank shall have delivered notice to Trustee of the termination of the Letter of Credit, and (if the Honds are theR outstanding) Trustee shall have accelerated the Bonds as provided in the Indenture, then the entire Secured Indebtedness shall, at the option of Mortqagee, immediately b~come due and payable without notice or demand, time i -22- aooK 573 PACE 971 ~ _ - _ .