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maintenance charges, owner association dues, charges, or fees, levies or charges
<br />resulting from covenants, conditions, and restrictions affecting the Mortgaged
<br />Property, which are assessed or imposed upon the Mortgaged Property or any part
<br />thereof or become due and payable, and which create, may create, or appear to
<br />create a lien upon the Mortgaged Property, or any part thereof. Mortgagor shall
<br />likewise pay all taxes, assessments, and other charges, levied upon or assessed,
<br />placed, or made against, or measured by, this Mortgage, or the recordation hereof,
<br />or the indebtedness secured hereby, provided that the Mortgagor shall not be
<br />obliged to pay such tax, assessment, or charge if such payment would be contrary
<br />to law or would result in the payment of an unlawful rate of interest on the
<br />indebtedness secured hereby; and provided further that nothing herein contained
<br />shall be construed as requiring Mortgagor to pay any net income, profits, or
<br />revenue taxes of Mortgagee. Mortgagor shall promptly furnish to the Mortgagee
<br />all notices received by the Mortgagor of amounts due under this paragraph and in
<br />the event Mortgagor shall make payment directly, Mortgagor shall promptly
<br />furnish to Mortgagee receipts evidencing such payments.
<br />(b) In the event the Mortgagor fails to comply with the terms of Section 1.03(a) or an
<br />"Event of Default" under the Loan Agreement has occurred that has not been
<br />cured within the applicable cure period, then at the written direction of the
<br />Mortgagee the Mortgagor shall, on or before the first day of each month, remit to
<br />the Mortgagee the amount necessary to pay any delinquent real estate taxes and
<br />installments of special assessments, and thereafter remit to the Mortgagee on the
<br />first day of each month an amount of money equal to one -twelfth of the real estate
<br />taxes and installments of special assessments next due and payable, plus, with and
<br />in addition to the first such monthly payment any additional amount which,
<br />together with monthly payments thereafter to be paid, will be sufficient to pay
<br />such real estate taxes and installments of special assessments in full as they
<br />become due. Such amounts shall be deposited in an interest -bearing account and
<br />all interest shall be applied to satisfy the amounts required to be so deposited.
<br />Section 1.04. Payment of Utility Charges. Subject to Section 1.07 relating to contests,
<br />the Mortgagor shall pay or cause to be paid all charges made by utility companies, whether
<br />public or private, for electricity, gas, heat, water, sewer, or other utilities furnished or used in
<br />connection with the Mortgaged Property or any part thereof, and will, upon written request of
<br />Mortgagee, furnish proper receipts evidencing such payment.
<br />Section 1.05. Liens. Subject to Section 1.07 and to Section 3.06 hereof relating to
<br />contests, the Mortgagor shall not create, incur, or suffer to exist any lien, encumbrance, or charge
<br />on the Mortgaged Property or any part thereof, whether junior or prior to the lien of this
<br />Mortgage, other than (i) those set forth on Exhibit B hereto, (ii) the lien of current real estate
<br />taxes and installments of special assessments with respect to which no penalty is yet payable;
<br />and (iii) those consented to by Mortgagee.
<br />Section 1.06. Compliance with Laws. Subject to Section 1.07 relating to contests,
<br />Mortgagor shall comply with all present and future statutes, laws, rules, orders, regulations,
<br />ordinances, and agreements affecting the Mortgaged Property, any part thereof or the use thereof.
<br />US.113578590.01
<br />B-2-4
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