Common use of Payment of Impositions Clause in Contracts

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.

Payment of Impositions. Upon the Lender’s delivery of notice Subject to Borrower with reasonable evidence thereofSection 13 relating to permitted contests, Borrower will promptly Tenant shall pay upon demand all Impositions imposed upon Lender by payable during the Term as set forth in Section 3.2.1 and for any state tax period occurring during the Term, irrespective of whether the United States or political subdivision thereof or Impositions for such tax period are due and payable after the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan DocumentsTerm. If it is unlawful for Borrower Tenant’s obligation to pay such Impositions, Borrower Impositions shall not be required to pay deemed absolutely fixed upon the date such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on Impositions become a lien upon the Loan in either a single payment Leased Property or at Lender's option, in installment payments, and Borrower will pay such amount upon demandany part thereof. If Lender has not received evidence satisfactory to it any refund shall be due from Borrower that such Impositions have been any taxing authority in respect of any Imposition paid by Borrower within 5 Business Days after demand was made upon Borrower Tenant during the Term, the same shall be paid over to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided retained by Tenant but only if no Incipient Default or Event of Default existsshall have occurred hereunder and be continuing. If an Event of Default shall exist hereunder, such refund shall be paid over to and retained by Landlord. If Tenant nevertheless receives such refund, Tenant shall, upon receipt, immediately pay such refund over to Landlord in full. Any such funds retained by Landlord due to an Event of Default shall be applied to amounts due and owing to Landlord under this Lease, as Landlord shall determine in its sole discretion, and, if funds remain after such application, such funds shall continue to be held by Landlord for application on account of additional amounts due and owing to Landlord under this Lease as the same arise. In the event any Governmental Authority classifies any property covered by this Lease as personal property, Tenant shall file any personal property tax returns that are required with respect thereto. Subject to the terms of Section 13, Tenant may, upon notice to Landlord, at Tenant’s option and at Tenant’s sole cost and expense, protest, appeal, or institute tax contests to effect a reduction of real estate or personal property assessments and Landlord, at Tenant’s expense as aforesaid, shall cooperate with Tenant in such protest, appeal, or other action to the extent required by law and reasonably requested by Tenant.

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.. 

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Acquisition Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Acquisition Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make 6284.345.1224403.10 35 4/16/2018 such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.. 

Payment of Impositions. Upon Mortgagor shall deposit at the Lender’s delivery time of notice each payment of an installment of interest (and, where required, principal) required to Borrower with reasonable evidence thereofbe paid by Mortgagor under the Note, Borrower will promptly pay upon demand until all Impositions imposed upon Lender by any state of the United States Indebtedness and Obligations are paid and performed in full, an additional amount equal to one-twelfth of those annual Impositions which, if not timely paid, may result in a Lien upon the Mortgaged Property superior to the Lien of this Mortgage (which Impositions shall include, without limitation, all ad volorem real property taxes assessed from time to time against the Mortgaged Property), such amount to be estimated by Mortgagee. Mortgagee shall cause the funds held by it pursuant to this SECTION 5.3 to be maintained in one or political subdivision thereof more interest-bearing accounts in accordance with Mortgagee's customary practices for the payment of interest on account balances, including, without limitation, minimum balance requirements. All interest accruing on such funds shall be added to and shall become a part thereof. Mortgagor shall cause all bills, statements or the United States by reason other documents relating to such Impositions to be sent or mailed directly to Mortgagee. Upon receipt of such bills, statements or other documents, and provided that Mortgagor has timely deposited sufficient funds with Mortgagee pursuant to this SECTION 5.3, Mortgagee shall pay such amounts as may be due thereunder out of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documentsfunds so deposited with Mortgagee. If it is unlawful at any time and for Borrower any reason the funds deposited with Mortgagee are or will be insufficient to pay such Impositionsamounts as may then or subsequently be due, Borrower Mortgagee shall notify Mortgagor and Mortgagor shall immediately deposit an amount equal to any such deficiency with Mortgagee. Notwithstanding the foregoing, nothing contained herein shall cause Mortgagee to be deemed a trustee of said funds or to be obligated to pay any amounts in excess of the amount of funds deposited with Mortgagee pursuant to this SECTION 5.3 plus interest accrued thereon. All funds deposited with Mortgagee hereunder may be commingled with any other sums held by Mortgagee. Should Mortgagor fail to deposit with Mortgagee (exclusive of that portion of said payments which has been applied by Mortgagee to the principal of or interest on the Indebtedness) sums sufficient to fully pay such Impositions at least thirty (30) days before delinquency thereof, Mortgagee may, at Mortgagee's election, but without any obligation to do so, advance any amounts required to make up the deficiency, which advances, if any, shall be secured hereby and shall be repayable to Mortgagee as herein elsewhere provided, or at the option of Mortgagee, the latter may, without making any advance whatever, apply any sums held by it upon any obligation of Mortgagor secured hereby. All amounts so deposited shall be held by Mortgagee as additional security for the sums secured by this Mortgage and upon the occurrence of an Event of Default hereunder Mortgagee may, in its sole and absolute discretion and without regard to the adequacy of its security hereunder, apply such amounts or any portion thereof to any part of the Indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be required construed to cure or waive any default or notice of default hereunder or invalidate any act done pursuant to any such default or notice. Upon full payment of the Indebtedness, or, at the election of Mortgagee at any prior time, the balance of such amounts shall be paid over to Mortgagor and no other party shall have any right or claim thereto. The receipt, use or application of any such sums paid by Mortgagor to Mortgagee hereunder shall not be construed to affect the maturity of any Indebtedness or any of the rights or powers of Mortgagee or Mortgagor under the terms of the Note Purchase Documents or any of the Obligations. Upon assignment of this Mortgage, Mortgagee shall have the right to pay over the balance of any such Impositions; but Lender may demand sums paid by Mortgagor to Mortgagee hereunder then in Mortgagee's possession to the assignee hereof and Mortgagee shall thereupon be completely released from all liability with respect to such amounts. Without limiting any of Mortgagor's obligations under this SECTION 5.3, Mortgagor shall have the right to contest any such Imposition prior to payment so long as (i) Mortgagor contests such Imposition in good faith, (ii) Mortgagor sends advance written notice to Mortgagee that Mortgagor is contesting such Imposition, (iii) Mortgagor posts a bond with a party acceptable to Mortgagee which is sufficient to pay the Imposition or otherwise secures the Mortgagee against collection of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment paymentssame against the Mortgaged Property, and Borrower will pay (iv) such amount upon demand. If Lender has contest does not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay impair the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays Mortgaged Property in any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default existsmanner.

Payment of Impositions. Upon The Mortgagor shall pay the Lender’s delivery Impositions on or before the last day on which they may be paid without penalty or interest, and shall, within thirty days, furnish Mortgagee with a paid receipt or a cancelled check as evidence of notice to Borrower with reasonable evidence thereofpayment. If Mortgagee does not receive such evidence, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan DocumentsMortgagee may secure it directly. If it is unlawful does so, Mortgagee will charge Mortgagor an administrative fee of $250 per property for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand securing the evidence of payment. The payment of such additional amount as is necessary this fee shall be a demand obligation of the Mortgagor under the terms of this Mortgage. The Mortgagor may meet the requirements of this Subsection by remitting the Monthly Escrow Payments when due, by providing Notice to maintain Lender's yields on the Loan in either a single payment Mortgagee of any new Imposition or at Lender's option, in installment paymentsincreased Imposition unknown to Mortgagee promptly after Mortgagor obtains knowledge of same, and Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory by paying to it from Borrower that such Impositions have been paid by Borrower Mortgagee within 5 ten (10) Business Days after demand was made upon Borrower any amount required to make such increase the Escrow Fund to an amount sufficient to permit Mortgagee to pay all Impositions from the Escrow Fund on time. If Mortgagor wishes to contest the validity or amount of an Imposition, it may do so by complying with Section 10. If any new Legal Requirement (other than a general tax on income or on interest payments) taxes the Mortgage so that the yield on the Indebtedness would be reduced, and Mortgagor may lawfully pay the tax or reimburse Mortgagee for its payment, Lender may, at its option, pay the same, and Borrower Mortgagor shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default existsdo so.

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or any tax measured by reference to, the net income payable or franchise tax payable by Lender to any state State of the United States or political subdivision thereof or to the United States of America under Section SECTION 11 or OR 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Inventory Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If it is unlawful to pay such additional amount, Borrower shall not be required to pay it; but Lender may demand immediate payment of the Obligations in full, and Borrower will pay the Obligations in full within sixty (60) days after such demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 five (5) Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.

Payment of Impositions. Upon Mortgagor will pay when due and before any penalty or interest attaches because of delinquency in payment, all taxes, installments of assessments, water charges, sewer charges, and other fees, taxes, charges and assessments of every kind and nature whatsoever assessed or charged against or constituting a lien on the Lender’s delivery of notice Premises or any interest therein or the Indebtedness (hereinafter collectively referred to Borrower with reasonable evidence thereof, Borrower as the “Impositions”); and will promptly pay upon demand all Impositions imposed upon Lender furnish to Mortgagee proof of the payment of any such Impositions. In the event of a court decree or an enactment after the date hereof by any state legislative authority of any law imposing upon a mortgagee the payment of the United States whole or political subdivision thereof or the United States by reason any part of the Loan DocumentsImpositions herein required to be paid by Mortgagor, or changing in any way the Collateral and/or any sale, rental, use, delivery or transfer of title laws relating to the Collateraltaxation of mortgages or debts secured by mortgages or a mortgagee’s interest in mortgaged premises, other than taxesso as to impose such Imposition on Mortgagee or on the interest of Mortgagee in the Premises, leviesthen, impostsin any such event, deductionsMortgagor shall bear and pay the full amount of such Imposition, charges or withholdings imposed onprovided that if for any Loan No. 09090 9 reason payment by Mortgagor of any such Imposition would be unlawful, or measured by reference toif the payment thereof would constitute usury or render the Indebtedness wholly or partially usurious, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender mayMortgagee, at its option, may declare the whole sum secured by this Mortgage with interest thereon to be immediately due and payable, without payment of a Reinvestment Charge or Default Premium (as such terms are defined in the Note and hereinafter referred to as the “Reinvestment Charge” and the “Default Premium”), or Mortgagee, at its option, may pay that amount or portion of such Imposition as renders the Indebtedness unlawful or usurious, in which event Mortgagor shall concurrently therewith pay the same, remaining lawful and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund non-usurious portion or reimbursement balance of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default existssaid Imposition.

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.. 

Payment of Impositions. Upon The Borrower shall pay the Lender’s delivery Impositions on or before the last day on which they may be paid without penalty or interest, and shall, within thirty (30) days, furnish the Lender with a paid receipt or a cancelled check as evidence of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon payment. If the Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documentsdoes not receive such evidence, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documentsmay obtain it directly. If it is unlawful does so, the Lender will charge the Borrower an administrative fee of $250 for securing the evidence of payment. The payment of this fee shall be a demand obligation of the Borrower. The Borrower may meet the Imposition payment requirements of this Subsection 6.6 by remitting the Monthly Escrow Payments when due, by immediately providing Notice to the Lender of any new Imposition, increased Imposition, or change in the due date or delinquency date of any Imposition, and by paying to the Lender on demand any amount required to increase the Escrow Fund to an amount sufficient to permit the Lender to pay all Impositions from the Escrow Fund on time. If the Borrower fails to provide Notice to the Lender of any change in the due date or delinquency date of any Imposition, and as the result of such Impositionsfailure, a taxing authority imposes any penalty or charge, or any discount is rendered unavailable, the Lender shall have no liability to the Borrower for any such additional expense. If the Borrower wishes to contest the validity or amount of an Imposition, it may do so by complying with Section 12. If any new Legal Requirement (other than a general tax on income or on interest payments) taxes this Mortgage so that the yield on the Indebtedness would be reduced, and the Borrower may lawfully pay the tax or reimburse the Lender for its payment, the Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the do so. Open-End Mortgage, Security Agreement & Fixture Filing GTJ Portfolio, Shelton, Connecticut AEGON Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demandNo. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.10520105

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by 6284.98.499412.15 51 9/30/2010 reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.

Payment of Impositions. Upon the Lender’s delivery of notice Unless otherwise paid to Borrower with reasonable evidence thereofLender as provided in Section 5.1.14, Borrower will promptly shall pay upon demand all Impositions. The Impositions imposed upon shall be paid not later than ten (10) days before the dates on which the particular Imposition would become delinquent and Borrower shall produce to Lender by any state receipts of the United States imposing authority, or political subdivision thereof other evidence reasonably satisfactory to Lender, evidencing the payment of the Imposition in full. If Borrower elects by appropriate legal action to contest any Imposition, Borrower shall first deposit cash with Lender as a reserve in an amount which Lender determines is sufficient to pay the Imposition plus all fines, interest, penalties and costs which may become due pending the determination of the contest unless Borrower has, as a condition to bringing such legal action, (i) deposited with the imposing authority such sums or other security as are required to initiate such contest and (ii) delivered to Lender evidence of such deposit reasonably satisfactory to Lender. If Borrower deposits this sum (which may be in the form of a letter of credit from a bank approved by Lender and otherwise in form and substance acceptable to Lender) with Lender or the United States sum or other security as required by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Codeimposing authority, as amendedapplicable, or otherwise in consequence and if such deposit effects a stay of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositionsany enforcement action, Borrower shall not be required to pay such Impositions; but Lender may demand payment the Imposition provided that the contest operates to prevent enforcement or collection of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment paymentsImposition, and the sale and forfeiture of, the Property, and is prosecuted with due diligence and continuity. For avoidance of doubt, if such deposit does not effect a stay of any enforcement action, Borrower will shall be required to pay such the Imposition. Upon termination of any proceeding or contest, Borrower shall pay the amount upon demandof the Imposition as finally determined in the proceeding or contest. If Lender has Provided that there is not received evidence satisfactory to it from Borrower that such Impositions then an Event of Default, the monies which have been paid by Borrower within 5 Business Days after demand was made upon Borrower deposited with Lender pursuant to make this Section shall be applied toward such paymentpayment and the excess, Lender mayif any, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) be returned to Borrower provided no Incipient Default or Event of Default existsBorrower.

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or any tax measured by reference to, the net income payable or franchise tax payable by Lender to any state State of the United States or political subdivision thereof or to the United States of America under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan DocumentsDocuments and other than any general franchise tax or business license taxes measured by Lender's gross income. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Receivables Loan, Construction Loan and Working Capital Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If it is unlawful to pay such additional amount, Borrower shall not be required to pay it; but Lender may demand immediate payment of the Obligations in full (together with the applicable Receivables Loan Prepayment Premium, Construction Loan Prepayment Premium and Working Capital Loan Prepayment), and Borrower will pay the Obligations in full within sixty (60) days after such demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days five (5) days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest thereon at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default existsRate until paid.

Payment of Impositions. Mortgagor shall deposit at the time of each payment of an installment of interest (and, where required, principal) required to be paid by Mortgagor under the Note, until all of the Indebtedness and Obligations are paid and performed in full, an additional amount equal to one-twelfth of those annual Impositions which, if not timely paid, may result in a Lien upon the Mortgaged Property superior to the Lien of this Mortgage (which Impositions shall include, without limitation, all ad volorem real property taxes assessed from time to time against the Mortgaged Property), such amount to be estimated by Mortgagee. Mortgagee shall cause the funds held by it pursuant to this SECTION 5.3 to be maintained in one or more interest-bearing accounts in accordance with Mortgagee's customary practices for the payment of interest on account balances, including, without limitation, minimum balance requirements. All interest accruing on such funds shall be added to and shall become a part thereof. Mortgagor shall cause all bills, statements or other documents relating to such Impositions to be sent or mailed directly to Mortgagee. Upon receipt of such bills, statements or other documents, and provided that Mortgagor has timely deposited sufficient funds with Mortgagee pursuant to this SECTION 5.3, Mortgagee shall pay such amounts as may be due thereunder out of the Lender’s delivery funds so deposited with Mortgagee. If at any time and for any reason the funds deposited with Mortgagee are or will be insufficient to pay such amounts as may then or subsequently be due, Mortgagee shall notify Mortgagor and Mortgagor shall immediately deposit an amount equal to any such deficiency with Mortgagee. Notwithstanding the foregoing, nothing contained herein shall cause Mortgagee to be deemed a trustee of notice said funds or to Borrower be obligated to pay any amounts in excess of the amount of funds deposited with reasonable evidence Mortgagee pursuant to this SECTION 5.3 plus interest accrued thereon. All funds deposited with Mortgagee hereunder may be commingled with any other sums held by Mortgagee. Should Mortgagor fail to deposit with Mortgagee (exclusive of that portion of said payments which has been applied by Mortgagee to the principal of or interest on the Indebtedness) sums sufficient to fully pay such Impositions at least thirty (30) days before delinquency thereof, Borrower will promptly pay Mortgagee may, at Mortgagee's election, but without any obligation to do so, advance any amounts required to make up the deficiency, which advances, if any, shall be secured hereby and shall be repayable to Mortgagee as herein elsewhere provided, or at the option of Mortgagee, the latter may, without making any advance whatever, apply any sums held by it upon demand all Impositions imposed any obligation of Mortgagor secured hereby. All amounts so deposited shall be held by Mortgagee as additional security for the sums secured by this Mortgage and upon Lender by the occurrence of an Event of Default hereunder Mortgagee may, in its sole and absolute discretion and without regard to the adequacy of its security hereunder, apply such amounts or any state portion thereof to any part of the United States Indebtedness secured hereby. Any such application of said amounts or political subdivision any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunder or invalidate any act done pursuant to any such default or notice. Upon full payment of the United States Indebtedness, or, at the election of Mortgagee at any prior time, the balance of such amounts shall be paid over to Mortgagor and no other party shall have any right or claim thereto. The receipt, use or application of any such sums paid by reason Mortgagor to Mortgagee hereunder shall not be construed to affect the maturity of any Indebtedness or any of the rights or powers of Mortgagee or Mortgagor under the terms of the Loan DocumentsDocuments or any of the Obligations. Upon assignment of this Mortgage, Mortgagee shall have the Collateral and/or right to pay over the balance of any sale, rental, use, delivery or transfer of title such sums paid by Mortgagor to Mortgagee hereunder then in Mortgagee's possession to the Collateralassignee hereof and Mortgagee shall thereupon be completely released from all liability with respect to such amounts. Without limiting any of Mortgagor's obligations under this SECTION 5.3, other than taxesMortgagor shall have the right to contest any such Imposition prior to payment so long as (i) Mortgagor contests such Imposition in good faith, levies(ii) Mortgagor sends advance written notice to Mortgagee that Mortgagor is contesting such Imposition, imposts, deductions, charges (iii) Mortgagor posts a bond with a party acceptable to Mortgagee which is sufficient to pay the Imposition or withholdings imposed on, or measured by reference to, otherwise secures the net income payable or franchise tax payable by Lender to any state Mortgagee against collection of the United States or political subdivision thereof or to same against the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment paymentsMortgaged Property, and Borrower will pay (iv) such amount upon demand. If Lender has contest does not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay impair the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays Mortgaged Property in any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default existsmanner.

Payment of Impositions. Upon the Lender’s delivery of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand ---------------------- all Impositions imposed upon Lender by any state of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or any tax measured by reference to, the net income payable or franchise tax payable by Lender to any state State of the United States or political subdivision thereof or to the United States of America under Section 11 or ------------- 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the ---- receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such Impositions, Borrower shall not be required to pay such Impositions; but Lender may demand payment of such additional amount as is necessary to maintain Lender's yields on the Inventory Loan in either a single payment or at Lender's option, in installment payments, and Borrower will pay such amount upon demand. If it is unlawful to pay such additional amount, Borrower shall not be required to pay it; but Lender may demand immediate payment of the Obligations in full, and Borrower will pay the Obligations in full within sixty (60) days after such demand. If Lender has not received evidence satisfactory to it from Borrower that such Impositions have been paid by Borrower within 5 five (5) Business Days after demand was made upon Borrower to make such payment, Lender may, at its option, pay the same, and Borrower shall immediately reimburse Lender for such sums so expended, together with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default exists.

Payment of Impositions. Upon During the Lender’s delivery of notice to Borrower with reasonable evidence thereof, Borrower will promptly pay upon demand all Impositions imposed upon Lender by any state term of the United States or political subdivision thereof or the United States by reason of the Loan Documents, the Collateral and/or any sale, rental, use, delivery or transfer of title to the Collateral, other than taxes, levies, imposts, deductions, charges or withholdings imposed on, or measured by reference to, the net income payable or franchise tax payable by Lender to any state of the United States or political subdivision thereof or to the United States under Section 11 or 1201 of the Internal Revenue Code, as amended, or otherwise in consequence of the receipt of payments provided for in the Loan Documents. If it is unlawful for Borrower to pay such ImpositionsLoan, Borrower shall not be required to pay such Impositions; but Lender may demand all Impositions when due and before imposition of any penalty or interest thereon, and provide American Family proof of payment of real estate taxes and property-related assessments not later than fifteen (15) days after such additional amount as is necessary to maintain Lender's yields on the Loan in either a single payment or at Lender's option, in installment payments, and Impositions would become delinquent if not paid. Borrower will pay such amount upon demand. If Lender has not received evidence satisfactory to it from Borrower shall annually certify that such all Impositions have been timely paid for the preceding twelve (12) months. In the event a payment of an Imposition becomes delinquent, Borrower shall in writing, report the due date and amount of such delinquency to American Family within fifteen (15) days of the date of such delinquency. In the event of a court decree or any enactment after the date hereof by any legislative authority of any law imposing upon a holder of a security deed payment of the whole or any part of any Impositions herein required to be paid by Borrower, or changing in any way the laws relating to the taxation of security deeds or debts secured by security deed so as to impose such Imposition upon American Family or on the interest of American Family in the Premises, then in any such event, Borrower within 5 Business Days after demand was made upon shall bear and pay the full amount of such Imposition, provided that if for any reason payment by Borrower to make of any such paymentImposition would be unlawful, Lender mayor if the payment thereof would constitute usury or render the Indebtedness wholly or partially usurious, American Family, at its option, may pay that amount or that portion of such Imposition which renders the Indebtedness unlawful or usurious, in which event Borrower shall concurrently therewith pay the same, remaining lawful and non-usurious portion or balance of said Imposition. Nothing herein shall obligate Borrower shall immediately to reimburse Lender for such sums so expended, together income or similar taxes payable by Lender in connection with interest at the Default Rate. If Borrower pays any such Impositions and Lender subsequently receives a refund or reimbursement of such amounts, Lender shall promptly deliver such refund or reimbursement (without interest) to Borrower provided no Incipient Default or Event of Default existsLoan secured hereby.