OPEN-END MORTGAGE MAXIMUM PRINCIPAL AMOUNT. This Security Instrument is an open-end mortgage made pursuant to Section 5301.232 of the Ohio Revised Code, and shall secure the payment of all loan advances included within the term "Debt," regardless of the time such advances are made. The maximum amount of unpaid loan indebtedness, exclusive of interest thereon, which may be outstanding at any time and secured hereby shall be the maximum principal amount stated on the cover page of this Security Instrument. As permitted and provided in Section 5301.233 of the Ohio Revised Code, this Security Instrument shall also secure unpaid balances of advances made with respect to the Property for the payment of taxes, assessments, insurance premiums, or costs incurred for the protection of the Property and other costs which Lender is authorized by this Security Instrument to pay on Borrower's behalf, plus interest thereon, regardless of the time when such advances are made.
OPEN-END MORTGAGE MAXIMUM PRINCIPAL AMOUNT. This Security Instrument is an open-end mortgage, and shall secure the payment of any amounts advanced from time to time under the Loan Documents, or under other documents stating that such advances are secured hereby. The maximum amount of unpaid principal of the Debt and Obligations arising under or in connection with this Security Instrument, exclusive of interest thereon, which may be outstanding at any time and secured hereby shall be Seventy Million and No/100 Dollars ($70,000,000.00). This Security Instrument also secures any and all Debt and Obligations arising under or in connection with this Security Instrument, which future Debt and Obligations shall have the same priority as if all such Debt and Obligations were made on the date of execution hereof. Nothing in this Section or in any other provision of this Security Instrument shall be deemed an obligation on the part of Mortgagee to make any future advances of any sort. At all times, regardless of whether any Loan proceeds have been disbursed, this Security Instrument shall secure (in addition to any Loan proceeds disbursed from time to time) the payment of any and all expenses and advances due to or incurred by Mortgagee in connection with the Debt and Secured Obligations to be secured hereby and which are to be reimbursed by Mortgagor under the terms of this Security Instrument and the Loan Agreement; provided, however, that in no event shall the total amount of Loan proceeds disbursed plus such additional amounts plus all the portions of the Debt and the other Obligations arising under or in connection with this Security Instrument exceed Seventy Million and No/100 Dollars ($70,000,000.00).
OPEN-END MORTGAGE MAXIMUM PRINCIPAL AMOUNT. This Mortgage is an open-end mortgage made pursuant to Section 5301.232 of the Ohio Revised Code, and shall secure the payment of all loan advances included within the term “Debt”, regardless of the time such advances are made. The making of such advances is obligatory on the part of the Mortgagee subject to the terms and conditions provided for in the Loan Documents. The maximum amount of unpaid loan indebtedness, exclusive of interest thereon, which may be outstanding at any time and secured hereby shall be the maximum principal amount stated on the cover page of this Mortgage. As permitted and provided in Section 5301.233 of the Ohio Revised Code, this Mortgage shall also secure unpaid balances of advances made with respect to the Property for the payment of taxes, assessments, insurance premiums, or costs incurred for the protection of the Property and other costs which Mortgagee is authorized by this Mortgage to pay on Mortgagor’s, plus interest thereon, regardless of the time when such advances are made.
OPEN-END MORTGAGE MAXIMUM PRINCIPAL AMOUNT. This Mortgage is an open-end mortgage made pursuant to Section 5301.232 of the Ohio Revised Code, and shall secure the payment of all loan advances included within the term “Obligations,” regardless of the time such advances are made. The maximum amount of unpaid loan indebtedness, exclusive of interest thereon, which may be outstanding at any time and secured hereby shall be the maximum principal amount stated on the cover page of this Mortgage. As permitted and provided in Section 5301.233 of the Ohio Revised Code, this Mortgage shall also secure unpaid balances of advances made with respect to the Property for the payment of taxes, assessments, insurance premiums, or costs incurred for the protection of the Property and other costs which the Lender is authorized by this Mortgage to pay on Borrower’s behalf, plus interest thereon, regardless of the time when such advances are made.
