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Common use of Further Advances Clause in Contracts

Further Advances. On the request of Trustor or its permitted ---------------- successors in ownership of the Land, Beneficiary may, at its option, at any time before full payment of the Indebtedness, make further advances to Trustor or the successors in ownership, with interest and late charges to be secured by this Deed of Trust. However, the amount of principal secured by this Deed of Trust and remaining unpaid will not at the time of and including any advance exceed the original principal sum secured. Also, if Beneficiary, at its option, makes a further advance or advances, Trustor or the successors in ownership agree to execute and deliver to Beneficiary a note, payable on or before the maturity of the Indebtedness secured and bearing any other terms that Beneficiary will require.

Appears in 4 contracts

Samples: Deed of Trust (G&l Realty Corp), Deed of Trust, Security Agreement, and Fixture Filing With Assignment of Rents and Agreements (G&l Realty Corp), Deed of Trust (G&l Realty Corp)

Further Advances. On the request of Trustor or its permitted ---------------- successors in ownership of the Land, Beneficiary may, at its option, at any time before full payment of the Indebtedness, make further advances to Trustor or the successors in ownership, with interest and late charges to be secured by this Deed of Trust. However, the amount of principal secured by this Deed of Trust and remaining unpaid will not at the time of and including any advance exceed the original principal sum secured. Also, if Beneficiary, at its option, makes a further advance or advances, Trustor or the successors in ownership agree to execute and deliver to Beneficiary a note, payable on or before the maturity of the Indebtedness secured and bearing any other terms that Beneficiary will require.

Appears in 2 contracts

Samples: Deed of Trust (Speedway Motorsports Inc), Deed of Trust, Security Agreement, and Fixture Filing (En Pointe Technologies Inc)