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90
<br />to e; that it will not create, Or suH'er to be created, or al-
<br />low to gist, �rny lien or char,�c haying priority to or pref-
<br />erenee over the lien of these ))resents upon the portaged
<br />property, or Duly part thereof, or upon the ineonhe thereof,
<br />exeel,t auV Mort... ,c or mort!.,ages on an-,- property here-
<br />aftc r acquired b� the Company which may exist at the
<br />date of stwil loquisition by the Company, and except also
<br />t:he underlying• rnortga�e, and that, within three months
<br />gift(,,. the wine shall accrue, it will pay, or eause to be
<br />cliscliar,''ecl, or will malke adequate provision for the
<br />satisfaction or discharge of', all lawful claims and de-
<br />lnands of mechanics, laborers and others which, if unpaid,
<br />nti.,ht be oiven 1)-\- h_uy precedence as a lien or char�,•e upon
<br />the iuort <,aed property, or any part thereof, or the in-
<br />coule thereof. I'royided, however, that nothin contained
<br />ill this Section shall re(illire the C'onlpany to pad any- such
<br />claim or dentalld, so ion- as the Company, in good faith,
<br />and by appropriate lepil procec'din!gs, shall contest the
<br />validity- thereof, or its bcilw- enforceable as a lien or
<br />'e superior to tiis Indenture' an(l so loll as �ln�'
<br />U(111 delay shall not subject tile, nuort� -a� •ed property, or
<br />ally part thereof, to forfeiture or sale.
<br />j., c. G 'I'll(, Company a 'rees that it Will at all tiwea
<br />keep insured sncll of its plants, buildill-s, tools, machin-
<br />ery, apparatus and other property, l�royided for use ill
<br />connection witli it business, as is usually- insured by
<br />Co1L11�ilnLeti ('�11'i'Vln��' oil llke bli ill ss, and ill tle sanU`
<br />marnu�r and to the same e--tellt; 111(1 the polieil l'or such
<br />there -
<br />nlslll'anee shall be co drawn as to rntlhe ally losses
<br />l_ulder parable to the 'I,rnstec_s as their interest may ap-
<br />pear, and all shell policies shall be deposited witll the
<br />'l.'rnst Company; lnoyided, however, that if any prol�ert.y
<br />y any
<br />111
<br />11 or other instru-
<br />so insured is covered b
<br />1i
<br />meat the lien of whiell thereon shall be prior to that of
<br />this Indenture, the losses under the policies for such
<br />insurance, until the final satisfaction and release of such
<br />prior mort 'gage or other instrument, may be made pay-
<br />able, and such policies may be deposited, in accordance
<br />with such prior mortgage or other instrument, the Com-
<br />pany hereby a,reei rg that upon final satisfaction or re-
<br />lease of such prior mortgage or other instrument, any
<br />insurance moneys then held thereunder shall be forth-
<br />with paid over to the Trust Company hereunder. All
<br />insurance moneys received by the Trustees, or either of
<br />them, under any of the provisions of this Section shall
<br />be deposited with and held by the Trust Company as
<br />a part of the mortgaged property, but (1) the Trust Com-
<br />pany sliall, out of the insurance moneys received on any
<br />policy of insurance procured by the Company, pay over
<br />to the Company suns equal to any expenditures made
<br />by the Company (a) in the replacement, repair or re-
<br />building of the damaged or destroyed property, or (b)
<br />of the same character as those which may be made the
<br />basis for the certification of additional notes guider the
<br />provisions of Section 5 of article I of this Indenture;
<br />provided, that such expenditures shall not have pre-
<br />viously been made the basis for the certification of ad-
<br />ditional notes or the payment of cash under the provi-
<br />sions of Section 5 of article I of this Indenture, or for the
<br />llaYnuont of insurance moneys or the proceeds of released
<br />property; or (2) at the option of file Company, suelh pro-
<br />ceeds may be applied towards the purchase, in the open
<br />mar]zet, of notes ontstauding under this Indenture, at not
<br />eNeeeding- 101 per centnm, or of underlying' Bonds at not
<br />escceding 10.5 per eentum, of the par value thereof, and
<br />aeerned interest, or to the redemption of uuderh ing
<br />
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