Common use of Liens, Charges and Encumbrances Clause in Contracts

Liens, Charges and Encumbrances. Except for Permitted Encumbrances, Grantor will not suffer or permit any mechanics’ lien, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s receipt of notice of the recording of such lien. If Grantor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx xxxx in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any such claim.

Liens, Charges and Encumbrances. Except for Permitted Encumbrances, Grantor Mortgagor will not suffer or permit any construction lien, mechanics’ lien, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor Mortgagor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor Mortgagor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after GrantorMortgagor’s receipt of notice of the recording of such lien. If Grantor Mortgagor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx xxxx in the manner provided above, Beneficiary Mortgagee may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by BeneficiaryMortgagee, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust Mortgage and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary Mortgagee shall not be required to inquire into the validity or amount of any such claim.

Liens, Charges and Encumbrances. Except for Permitted Encumbrances, Grantor will not suffer or permit any mechanics’ lien, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s receipt of notice of the recording of such lien. If Grantor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx xxxx in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any such claim.

Liens, Charges and Encumbrances. Except for (i) Permitted Encumbrances, (ii) the lien for ad valorem taxes on the Property which are not yet delinquent, (iii) other liens in favor of Beneficiary, and (iv) liens arising by operation of law securing debts that are not yet due and payable, Grantor will not suffer or permit any mechanics’ ' lien, voluntary or involuntary xxxxlien, xxxxlien, xxxxxxxxxxxencumbrance, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx lxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s 's receipt of notice of the recording of such lien. If Grantor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx lxxx xxxx in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any such claim.

Liens, Charges and Encumbrances. Except Borrower will not permit to be created or to exist in respect of the Property or any part thereof any Lien on parity with, superior to or inferior to any of the Liens of the Loan Documents, except for the Permitted Encumbrances. Upon becoming aware of the creation of any Lien on the Property, Grantor will including without limitation a Lien resulting from or arising out of a breach of a Permitted Encumbrance, Borrower shall promptly (but not suffer less than ten days after written notice of such Lien is sent to Borrower by Lender) pay or otherwise discharge all lawful claims and demands of mechanics, materialmen, laborers, realtors, brokers and others which if unpaid, might result in, or permit the creation of, a Lien, charge or encumbrance upon the Property or any part thereof, or on the Rents, arising therefrom. Notwithstanding the foregoing and provided no Event of Default has occurred and is continuing (unless otherwise approved by Lender), Borrower may contest, at no expense to Lender, by appropriate legal proceedings promptly initiated and conducted with due diligence, in accordance with all applicable statutes, laws, and ordinances, mechanics’ lien’, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or materialmen’s and other title retention document to be such liens filed or otherwise asserted against the Property in accordance with the terms hereof. Borrower shall give Notice to Lender of its intent to bring such action and, unless Borrower has furnished (or any portion thereof)caused to be furnished) such security as may be required in the proceeding, and will promptly discharge the same Lender may, in case of the filing of any claims for lien or proceedings for the enforcement thereofLender’s discretion, provided, however, that Grantor shall have the right require Borrower to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s receipt of notice of the recording of such lien. If Grantor shall fail promptly either either: (i) post a bond or other Providence Square 31 Loan No. 00-1103028 4813-0380-2520, v. 3 collateral satisfactory to discharge Lender (and acceptable to the title company insuring the Security Instrument to insure over any such lien, Lien described in this Section 5.9); or (ii) post provide Lender with a statutory xxxx xxxx cash deposit in an amount necessary to pay any and all costs associated with having the Lien released, which deposit may be used by Lender to satisfy any Lien described in this Section 5.9 (in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure event Borrower is unsuccessful contesting such Lien) within a period of ten days after written notice is sent to Borrower requiring the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise posting of the samebond or other collateral. Upon a final, or may furnish non-appealable adverse determination of such security or indemnity Lien, Borrower shall have a period of ten Business Days to the applicable insurance company, and any pay all amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust such Lien and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any provide Lender with evidence such claimLien has been released.