Business Loan. (a) The Borrower declares, represents, certifies and agrees that the proceeds of the Notes will be used solely for business purposes and that the loan is exempt from interest limitations pursuant to the provisions of 815 ILCS 205/4 and is an exempted transaction under the Truth in Lending Act, 15 U.S.C. Section 1601 et seq. (b) All rights, remedies and powers provided by this Mortgage may be exercised only to the extent that the exercise thereof does not violate any applicable provisions of law, and all the provisions of this Mortgage are intended to be subject to all applicable mandatory provisions of law which may be controlling and to be limited to the extent necessary so that they will not render this Mortgage invalid or unenforceable under the provisions of any applicable law.
Appears in 4 contracts
Samples: Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Grubb & Ellis Healthcare REIT, Inc.), Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Grubb & Ellis Healthcare REIT, Inc.), Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Grubb & Ellis Healthcare REIT, Inc.)
