Substitution of Loan. Notwithstanding the provisions of Paragraph 7 of the Note or Paragraph 30 of the Mortgage, Borrower may request that Lender permit Borrower to prepay the Loan in full at par from the proceeds of a substitute first mortgage loan (“Substitute Loan”) to be funded by Lender to Borrower and secured by a substitute property owned in fee simple as provided below (which was not previously any of the Pooled Properties hereunder) (“Substitute Property”) and to obtain a release of the Property from the Security Instruments upon and subject to the following terms and conditions (“Substitution”):
Appears in 4 contracts
Samples: Loan Agreement (Hartman Short Term Income Properties XX, Inc.), Loan Agreement (Hartman Short Term Income Properties XX, Inc.), Loan Agreement (Hartman Short Term Income Properties XX, Inc.)
