Common use of Advance Money Mortgage Clause in Contracts

Advance Money Mortgage. This Mortgage secures future advances made pursuant to the Loan Agreement, which future advances are guarantied by the Mortgagor pursuant to the Guaranty. Without limiting the foregoing, this Mortgage secures all advances made by Agent or any Lender of any kind or nature described in 42 Pa. C.S.ss.8144. The maximum principal amount that may be secured by this Mortgage is $100,000,000.00, plus all advances made pursuant to any provisions of the Mortgage; provided that in no event shall any Lender be obligated to advance in excess of the stated principal amount of the Note evidencing the indebtedness secured hereby. If Mortgagor sends a written notice to Agent or any Lender which purports to limit the indebtedness secured by this Mortgage and to release the obligation of Agent or any Lender to make any additional advances, such notice shall be ineffective as to any future advances made: (i) to enable completion of Improvements on the Mortgaged Property for which the Loan secured hereby was originally made; (ii) to pay taxes, assessments, maintenance charges and insurance premiums; (iii) for costs incurred for protection of the Mortgaged Property or the lien of this Mortgage; (iv) expenses incurred by Agent or any Lender by reason of a default of Mortgagor hereunder or under the Loan Documents; and (v) any other costs incurred by Agent or any Lender to protect and preserve the Mortgaged Property. It is the intention of the parties hereto that any such advance made by Agent or any Lender after any such notice by Mortgagor shall be secured by the lien of this Mortgage on the Mortgaged Property. [The balance of this page is intentionally left blank]

Advance Money Mortgage. This Mortgage secures future advances made pursuant to the Loan Agreement, which future advances are guarantied by the Mortgagor pursuant to the Guaranty. Without limiting the foregoing, this Mortgage secures all advances made by Agent or any Lender of any kind or nature described in 42 Pa. C.S.ss.8144. The maximum principal amount that may be secured by this Mortgage is $100,000,000.00, plus all advances made pursuant to any provisions of the Mortgage; provided that in no event shall any Lender be obligated to advance in excess of the stated principal amount of the Note evidencing the indebtedness secured hereby. If Mortgagor sends a written notice to Agent or any Lender Mortgagee, including a notice under 42 Pa.C.S.A. ss.8143, which purports to limit the indebtedness Indebtedness secured by this Mortgage and to release the obligation obligations of Agent or any Lender Mortgagee to make any additional advancesadvances to Mortgagor as contemplated by the Note, such notice shall be ineffective as to any future advances made: (ia) to enable completion of Improvements on improvements to the Mortgaged Property for which Property, the Loan secured hereby financing of which, in whole or in part, this Mortgage was originally madegiven to secure; (iib) to pay taxes, assessments, maintenance charges and insurance premiums; (iiic) for costs incurred for the protection and preservation of the Mortgaged Property or the lien of this Mortgage; (ivd) for expenses incurred by Agent or any Lender Mortgagee by reason of a default of Mortgagor hereunder or under the Note or the other Loan Documents; and (ve) for any other costs incurred by Agent or any Lender Mortgagee to protect and preserve the Mortgaged Property. It is the intention of the parties hereto that any such advance made by Agent or any Lender Mortgagee after any such notice by Mortgagor shall be secured by the lien of this Mortgage on the Mortgaged Property. [The balance of this page is intentionally left blank].

Advance Money Mortgage. This Mortgage secures future advances made pursuant to the Loan Agreement, which future advances are guarantied by the Mortgagor pursuant to the Guaranty. Without limiting the foregoing, this Mortgage secures all advances made by Agent or any Lender of any kind or nature described in 42 Pa. C.S.ss.8144C.S. §8144. The maximum principal amount that may be secured by this Mortgage is $100,000,000.0053,000,000.00, plus all advances made pursuant to any provisions of the Mortgage; provided that in no event shall any Lender be obligated to advance in excess of the stated principal amount of the Note evidencing the indebtedness secured hereby. If Mortgagor sends a written notice to Agent or any Lender which purports to limit the indebtedness secured by this Mortgage and to release the obligation of Agent or any Lender to make any additional advances, such notice shall be ineffective as to any future advances made: (i) to enable completion of Improvements improvements on the Mortgaged Property for which the Loan loan secured hereby was originally made; (ii) to pay taxes, assessments, maintenance charges and insurance premiums; (iii) for costs incurred for protection of the Mortgaged Property or the lien of this Mortgage; (iv) expenses incurred by Agent or any Lender by reason of a default of Mortgagor hereunder or under the Loan Documents; and (v) any other costs incurred by Agent or any Lender to protect and preserve the Mortgaged Property. It is the intention of the parties hereto that any such advance made by Agent or any Lender after any such notice by Mortgagor shall be secured by the lien of this Mortgage on the Mortgaged Property. [The balance of this page is intentionally left blank].

Advance Money Mortgage. This Mortgage secures future advances made pursuant to the Loan Agreement, which future advances are guarantied by the Mortgagor this Mortgage or pursuant to the Guaranty. Without limiting the foregoing, this Mortgage secures all advances made by Agent or any Lender of any kind or nature described in 42 Pa. C.S.ss.8144. The maximum principal amount that may be secured by this Mortgage is $100,000,000.00, plus all advances made pursuant to any provisions of the Mortgage; provided that in no event shall any Lender be obligated to advance in excess of the stated principal amount of the Note evidencing the indebtedness secured herebyCredit Agreement. If Mortgagor sends a written notice to Agent Mortgagee or any Lender bank which purports to limit the indebtedness secured by this Mortgage and to release the obligation of Agent or any Lender Mortgagee to make any additional advancesadvances to or for the benefit of Mortgagor, such a notice shall be ineffective Ineffective as to any future advances made: (i) to enable completion of Improvements on the Mortgaged Property for which the Loan secured hereby was originally made; (ii) to pay taxes, assessments, maintenance charges and insurance premiums; (iiiB) for costs incurred for the protection of the Mortgaged Property or the lien of this Mortgage; (iviii) on account of expenses incurred by Agent or any Lender Mortgagee by reason of a default of Mortgagor hereunder or under the Credit Agreement, the Note or any other Loan DocumentsDocument; and (viv) on account of any other costs incurred by Agent or any Lender Mortgagee to protect and preserve the Mortgaged PropertyProperty or the Iien of this Mortgage. It it is the intention of the parties hereto that any such advance made by Agent or any Lender Mortgagee after any such notice by Mortgagor shall be an obligatory advance secured by the •the lien of this Mortgage on the Mortgaged Property. [The balance of this page is intentionally left blank].