Common use of Principal Secured Clause in Contracts

Principal Secured. This Mortgage originally secured a loan made by Mortgagee on February 8, 2013 to Mortgagor in the amount of One Million Two hundred fifty Thousand and 00/100 Dollars ($1,250,000.00), including interest. On April 23, 2013, the loan made by Mortgagee was amended to Two Million Five hundred thousand and 00/100 dollars ($2,500,000.00), including interest (the “Loan”). This Mortgage, as amended, now secures the Loan, including interest, for the protection of the lien of this Mortgage. Without limiting the scope of the definition of Secured Indebtedness set forth in Section 1.5 hereof, this Mortgage secures accrued and unpaid interest and the unpaid balances of advances made by Mortgagee in accordance with the terms of this Mortgage for the payment of taxes, assessments, maintenance charges and insurance premiums with respect to the Property (as defined below), expenses incurred by Mortgagee for the protection of the Property or the lien of this Mortgage, expenses incurred by Mortgagee by reason of default by Mortgagor.

Principal Secured. This Mortgage originally secured secures a loan made by Mortgagee on February 8, 2013 the date hereof to Mortgagor in the principal amount of One Fifteen Million Two hundred fifty Thousand and 00/100 No/100 Dollars ($1,250,000.0015,000,000.00), including interest. On April 23, 2013, plus such additional amounts as Mortgagee may from time to time advance pursuant to the loan made by Mortgagee was amended to Two Million Five hundred thousand terms and 00/100 dollars ($2,500,000.00), including interest (the “Loan”). This conditions of this Mortgage, as amended, now secures with respect to an obligation secured by a lien or encumbrance prior to the Loan, including interest, lien of this Mortgage or for the protection of the lien of this Mortgage, together with interest thereon (the “NL Loan”). Without limiting the scope of the definition of Secured Indebtedness set forth in Section 1.5 hereof, this Mortgage secures accrued and unpaid interest and the unpaid balances of advances made by Mortgagee in accordance with the terms of this Mortgage for the payment of taxes, assessments, maintenance charges and insurance premiums with respect to the Property (as defined below), expenses incurred by Mortgagee for the protection of the Property or the lien of this Mortgage, expenses incurred by Mortgagee by reason of default by Mortgagor.

Principal Secured. This Mortgage originally secured secures a loan made by Mortgagee on February 8, 2013 the date hereof to Mortgagor in the amount of One Million Two hundred fifty Thousand and 00/100 Dollars ($1,250,000.00), including interest. On April 23, 2013, the loan made by Mortgagee was amended to Two Million Five hundred thousand and 00/100 dollars ($2,500,000.00), including interest (the “Loan”). This Mortgage, as amended, now secures the Loan, including interest, for the protection of the lien of this MortgageMortgage (the “Loan”). Without limiting the scope of the definition of Secured Indebtedness set forth in Section 1.5 hereof, this Mortgage secures accrued and unpaid interest and the unpaid balances of advances made by Mortgagee in accordance with the terms of this Mortgage for the payment of taxes, assessments, maintenance charges and insurance premiums with respect to the Property (as defined below), expenses incurred by Mortgagee for the protection of the Property or the lien of this Mortgage, expenses incurred by Mortgagee by reason of default by Mortgagor.