Common use of Maximum Amount of Indebtedness Clause in Contracts

Maximum Amount of Indebtedness. Notwithstanding anything to the contrary in this Mortgage, the maximum aggregate principal amount of indebtedness that is, or under any contingency may be, secured by this Mortgage (including Mortgagor’s obligation to reimburse advances made by Xxxxxxxxx), either at execution or at any time thereafter, including future advances which will be advanced from time to time from and after the date hereof and may include readvances of amounts repaid (the “Secured Loan Amount”), shall not exceed in the aggregate at any one time the outstanding amount of [$52,000,000.00], plus amounts that Mortgagee expends after occurrence of an Event of Default to the extent that any such amounts shall constitute payment of (a) taxes, charges or assessments that may be imposed by law upon the Mortgaged Property; (b) premiums on insurance policies covering the Mortgaged Property; (c) expenses incurred in upholding the lien of this Mortgage, including the expenses of any litigation to prosecute or defend the rights and lien created by this Mortgage; or (d) any amount, cost or charge to which Mortgagee becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then in such event, such amounts or costs, together with interest thereon, shall be added to the indebtedness secured hereby and shall be secured by this Mortgage. All persons and entities with any interest in the Mortgaged Property or about to acquire any such interest should be aware that this Mortgage secures more than the stated principal amount of the Note and interest thereon; this Mortgage secures any and all other amounts which may become due under the Note or other document or instrument evidencing, securing or otherwise affecting the indebtedness, including, without imitation, any and all amounts expended by Mortgagee upon an Event of Default to operate, manage or maintain the Mortgaged Property or to otherwise protect the Mortgaged Property or the lien of this Mortgage.

Maximum Amount of Indebtedness. Notwithstanding anything to the contrary in this the Mortgage, the maximum aggregate principal amount of indebtedness that is, or under any contingency may be, secured by this the Mortgage (including Mortgagor’s obligation to reimburse advances made by XxxxxxxxxMortgagee), either at execution or at any time thereafter, including future advances which will be advanced from time to time from and after the date hereof and may include readvances of amounts repaid (the “Secured Loan Amount”), shall not exceed in the aggregate at any one time the outstanding amount of [EIGHTY-EIGHT MILLION AND 00/100 DOLLARS ($52,000,000.00]88,000,000.00), plus amounts that Mortgagee expends after occurrence of an Event of Default to the extent that any such amounts shall constitute payment of (a) taxes, charges or assessments that may be imposed by law upon the Mortgaged Property; (b) premiums on insurance policies covering the Mortgaged Property; (c) expenses incurred in upholding the lien of this the Mortgage, including the expenses of any litigation to prosecute or defend the rights and lien created by this the Mortgage; or (d) any amount, cost or charge to which Mortgagee becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then in such event, such amounts or costs, together with interest thereon, shall be added to the indebtedness secured hereby and shall be secured by this the Mortgage. All persons and entities with any interest in the Mortgaged Property or about to acquire any such interest should be aware that this the Mortgage secures more than the stated principal amount of the Note and interest thereon; this the Mortgage secures any and all other amounts which may become due under the Note or other document or instrument evidencing, securing or otherwise affecting the indebtedness, including, without imitation, any and all amounts expended by Mortgagee upon an Event of Default to operate, manage or maintain the Mortgaged Property or to otherwise protect the Mortgaged Property or the lien of this the Mortgage.”

Maximum Amount of Indebtedness. (a) Notwithstanding anything to the contrary in this Mortgage, the maximum aggregate principal amount of indebtedness that is, or Secured Obligations which is or under any contingency may bebe secured by this Mortgage, at the date of the execution and delivery hereof or at any time hereafter, is SIXTY EIGHT MILLION DOLLARS ($68,000,000) provided, however, that the foregoing limitation shall not limit the Lien and security of this Mortgage with respect to (i) interest on said maximum principal indebtedness payable pursuant to the Senior Secured Notes, or any premium payable pursuant to the Senior Secured Notes upon prepayment of said maximum principal indebtedness, (ii) repayment to Mortgagee after default of sums advanced or paid for real estate taxes (and payments in lieu thereof), charges or assessments upon the Mortgaged Property, (iii) repayment to Mortgagee after default of sums advanced or paid for premiums for insurance covering the Mortgaged Property, (iv) repayment after default of all reasonable legal costs and expenses of collection of the indebtedness secured by this Mortgage (including Mortgagor’s obligation to reimburse advances made by Xxxxxxxxx)or of the defense or prosecution of the rights, either at execution or at any time thereafter, including future advances which will be advanced from time to time from Liens and after the date hereof and may include readvances of amounts repaid (the “Secured Loan Amount”), shall not exceed in the aggregate at any one time the outstanding amount of [$52,000,000.00], plus amounts that Mortgagee expends after occurrence of an Event of Default to the extent that any such amounts shall constitute payment of (a) taxes, charges or assessments that may be imposed by law upon the Mortgaged Property; (b) premiums on insurance policies covering the Mortgaged Property; (c) expenses incurred in upholding the lien of this Mortgage, including the expenses of any litigation to prosecute or defend the rights and lien security interests created by this Mortgage; or , and (dv) repayment to Mortgagee after default of any amount, cost or charge to which Mortgagee becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then in such event, such and the amounts or costsincluded under (i) - (v) inclusive above, together with interest thereon, shall be added deemed to be Secured Obligations; provided, that the Secured Obligations shall not include interest on any unpaid interest to the indebtedness secured hereby and shall be secured by this Mortgage. All persons and entities extent, if any, the same would require the payment of mortgage recording tax with any interest respect thereto, unless such mortgage recording tax is in the Mortgaged Property or about to acquire any such interest should be aware that this Mortgage secures more than the stated principal amount of the Note and interest thereon; this Mortgage secures any and all other amounts which may become due under the Note or other document or instrument evidencing, securing or otherwise affecting the indebtedness, including, without imitation, any and all amounts expended by Mortgagee upon an Event of Default to operate, manage or maintain the Mortgaged Property or to otherwise protect the Mortgaged Property or the lien of this Mortgagefact paid.

Maximum Amount of Indebtedness. Notwithstanding any provision to the contrary contained herein, the principal amount of Indebtedness secured hereby (excluding any amounts advanced by Mortgagee under Section 8.01 hereof) will never exceed $  (the “Maximum Amount”). Notwithstanding anything to the contrary in this Mortgage, contained herein: (i) the maximum aggregate principal amount of Maximum Amount will be deemed to be the first indebtedness that is, or under any contingency may be, secured to be advanced and the last indebtedness to be repaid; (ii) the security afforded by this Mortgage (including Mortgagor’s obligation for the payment and/or performance of the Indebtedness will not be reduced by any payments or other sums applied to reimburse advances made by Xxxxxxxxx), either at execution or at any time thereafter, including future advances which the reduction of the indebtedness so long as the total amount of outstanding principal indebtedness exceeds the Maximum Amount and thereafter will be advanced from time to time from and after the date hereof and may include readvances of amounts repaid (the “Secured Loan Amount”), shall not exceed in the aggregate at any one time the outstanding amount of [$52,000,000.00], plus amounts that Mortgagee expends after occurrence of an Event of Default reduced only to the extent that any such amounts shall constitute payment payments and other sums are actually applied by the Mortgagee, in accordance with the Note, any other Loan Document (as hereinafter defined), or any other instruments, documents or agreements executed in connection therewith, to reduce the outstanding principal of (a) taxes, charges the Note or assessments that may be imposed by law upon any other Loan Document to an amount less than the Mortgaged PropertyMaximum Amount; (biii) premiums on insurance policies covering if at any time after the Mortgaged Property; (c) expenses reduction of the outstanding principal balance of the Note or any other Loan Document to an amount less than the Maximum Amount, principal Indebtedness is subsequently incurred in upholding such that it increases the lien of this Mortgagetotal outstanding principal indebtedness to an amount equal to or exceeding the Maximum Amount, including the expenses of any litigation to prosecute or defend the rights and lien created security afforded by this MortgageMortgage will thereupon be increased to the Maximum Amount; and (iv) the limitation contained in this Section 2.02 on the Maximum Amount will only pertain to principal of the Note or (d) any amountother Loan Document and will not be construed as limiting the amount of interest, cost fees, expenses, indemnified amounts and other Indebtedness secured hereby that are not principal of the Note or charge any other Loan Document, it being the intention of the parties to which Mortgagee becomes subrogatedthis Mortgage that this Mortgage will secure any principal of the Indebtedness remaining unpaid at the time of foreclosure up to the Maximum Amount, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then in such event, such amounts or costs, together with plus interest thereon, shall be added to the indebtedness secured hereby and shall be secured by this Mortgage. All persons and entities with any interest in the Mortgaged Property or about to acquire any such interest should be aware that this Mortgage secures more than the stated principal amount all costs of the Note and interest thereon; this Mortgage secures any collection and all other amounts which may become due (except principal indebtedness under the Note or any other document or instrument evidencingLoan Document in excess of the Maximum Amount) included in the Indebtedness. “Loan Documents” means the Note, securing or otherwise affecting the indebtednessthis Mortgage, including, without imitation, any and all amounts expended other documents or instruments now or hereafter executed by Mortgagee upon an Event Mortgagor and/or others and by or in favor of Default to operateMortgagee, manage which describe the credit relationship among the parties or maintain which may secure or guarantee payment of the Mortgaged Property or to otherwise protect the Mortgaged Property or the lien of this MortgageIndebtedness.