LENDER ADVANCES. The Lender may, without notice or demand, pay any amount which the Borrower has failed to pay, or perform any act which the Borrower has failed to perform hereunder. In such event such Lender advances, together with interest thereon from the date made, at the highest interest rate allowed under the Credit Agreement shall be (1) added to the Mortgage Debt, (2) payable on demand to the Lender and (3) secured by the lien of this Mortgage.
Appears in 2 contracts
Samples: Open End Mortgage Deed (Edac Technologies Corp), Open End Mortgage Deed (Edac Technologies Corp)
LENDER ADVANCES. The Lender may, without notice or demand, pay any amount which the Borrower has failed to pay, or perform any act which the Borrower has failed to perform hereunder. In such event such Lender advances, together with interest thereon from the date made, at the highest interest rate allowed under the Credit Agreement Note, shall be (1) added to the Mortgage DebtObligations, (2) payable on demand to the Lender and (3) secured by the lien of this MortgageDeed of Trust.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Cole Credit Property Trust III, Inc.)
LENDER ADVANCES. The Lender may, without notice or demand, pay any amount which the Borrower has failed to pay, or perform any act which the Borrower has failed to perform hereunder. In such event such Lender advances, together with interest thereon from the date made, at the highest interest rate allowed under the Credit Agreement Note, shall be (1) added to the Mortgage Debt, (2) payable on demand to the Lender and (3) secured by the lien of this Mortgage.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Cole Credit Property Trust III, Inc.)
