Common use of Maximum Indebtedness Clause in Contracts

Maximum Indebtedness. This Deed of Trust is given to secure not only the original indebtedness secured hereby, but also such future advances up to a total indebtedness of $120,000,000.00, as may be made within twenty (20) years from the date hereof, plus interest thereon, and any disbursements made by Beneficairy for the payment of taxes, insurance or other liens on the Premises, with interest on such disbursements, which advances shall be secured hereby to the same extent as if such future advances were made this date. The total amount of indebtedness secured hereby may increase or decrease from time to time. The provisions of this paragraph shall not be construed to imply any obligation on the Banks to make any future advances, it being the intention of the parties that any future advances shall be solely at the discretion and option of Beneficiary. Any reference to the Notes in this Deed of Trust shall be construed to reference any future advances pursuant to this paragraph.

Maximum Indebtedness. This Deed of Trust is given to secure not only the original indebtedness secured hereby, but also such future advances up to a total indebtedness of $120,000,000.00, as may be made within twenty (20) years from the date hereof, plus interest thereon, and any disbursements made by Beneficairy Beneficiary for the payment of taxes, insurance or other liens on the Premises, with interest on such disbursements, which advances shall be secured hereby to the same extent as if such future advances were made this date. The total amount of indebtedness secured hereby may increase or decrease from time to time. The provisions of this paragraph shall not be construed to imply any obligation on the Banks to make any future advances, it being the intention of the parties that any future advances shall be solely at the discretion and option of Beneficiary. Any reference to the Notes in this Deed of Trust shall be construed to reference any future advances pursuant to this paragraph.