Common use of Usury Limitations Clause in Contracts

Usury Limitations. It is the intention of the parties to conform strictly to applicable usury laws from time to time in force, and all agreements between Borrower and Lender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever and under no circumstance, whether by acceleration of maturity hereof, the happening of any subsequent event including, but not limited to, a prepayment of the principal indebtedness in whole or in part, or otherwise, shall the amount paid or agreed to be paid to Lender, or collected by Lender, for the use, forbearance or detention of the money to be loaned hereunder or otherwise, or for the payment or performance of any covenant or obligation contained herein or in the Mortgage or in any other Loan Documents, or in any other document evidencing, securing, or pertaining to the indebtedness evidenced hereby, exceed the maximum amount permissible under applicable usury laws. If under any circumstances whatsoever fulfillment of any provision hereof or of the Mortgage or any other Loan Documents, at the time performance of such provision shall be due, shall involve an amount or any portion thereof in excess of the limit of validity prescribed by law, then IPSO FACTO, the payment to be made or the amount to be delivered to be fulfilled shall be reduced to the limit of such validity; and if under any circumstances Lender shall ever receive an amount deemed interest, by applicable law, which would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing hereunder or to other indebtedness secured by the Mortgage and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and other indebtedness, the excess shall be deemed to have been a payment made by mistake and shall be refunded to Borrower or to any other person making such payment on Borrower's behalf. All sums paid or agreed to be paid to Lender for the use, forbearance or detention of the indebtedness of Borrower evidenced hereby, outstanding from time to time shall, to the extent permitted by applicable law, be amortized, pro-rated, allocated and spread from the date of disbursement of the proceeds of this Note until payment in full of such indebtedness so that the actual rate of interest on account of such indebtedness is uniform through the term hereof. The terms and provisions of this paragraph shall control and supersede every other provision of all agreements between Lender and Borrower and any endorser or guarantor of this Note.

Usury Limitations. It is the intention of the parties Maker and Xxxxx intend to conform strictly to the applicable usury laws from time laws. Notwithstanding anything to time the contrary in force, and all agreements between Borrower and Lenderthis Note or in any other agreement entered into in connection herewith or securing the indebtedness evidenced hereby, whether now existing or hereafter arising and whether oral written or writtenoral, are hereby expressly limited so it is agreed that the aggregate of all interest and any other charges constituting interest, or adjudicated as constituting interest, and contracted for, chargeable or receivable under this Note or otherwise in no contingency or event whatsoever and connection with this loan transaction shall under no circumstance, whether circumstances exceed the maximum amount of interest permitted by acceleration applicable law. In the event the maturity of maturity hereof, this Note is accelerated by reason of an election by the happening of holder hereof resulting from a default hereunder or under any subsequent event including, but not limited to, a prepayment of the principal indebtedness in whole other document executed as security herefor or in partconnection herewith, or by voluntary prepayment by the Maker, or otherwise, shall then earned interest may never include more than the amount paid or agreed to be paid to Lendermaximum rate of interest permitted by applicable law, or collected by Lender, for computed from the use, forbearance or detention dates of each advance of the money to be loaned hereunder or otherwise, or for the payment or performance of any covenant or obligation contained herein or in the Mortgage or in any other Loan Documents, or in any other document evidencing, securing, or pertaining to the indebtedness evidenced hereby, exceed the maximum amount permissible under applicable usury lawsloan proceeds outstanding until payment. If under from any circumstances whatsoever fulfillment circumstance any holder of any provision hereof or of the Mortgage this Note shall ever receive interest or any other Loan Documentscharges constituting interest, at the time performance of such provision shall be due, shall involve an amount or any portion thereof in excess of the limit of validity prescribed by law, then IPSO FACTOadjudicated as constituting interest, the payment to be made or the amount to be delivered to be fulfilled shall be reduced to the limit of such validity; and amount, if under any circumstances Lender shall ever receive an amount deemed interest, by applicable lawany, which would exceed the highest lawful rate, such amount that would be excessive maximum rate of interest under permitted by applicable usury laws law shall be applied to the reduction of the principal amount owing hereunder on this Note or on account of any other principal indebtedness of the Maker to other indebtedness secured by the Mortgage holder of this Note, and not to the payment of interest, ; or if such excessive interest exceeds the unpaid balance of principal hereof and such other indebtedness, the excess shall be deemed to have been a payment made by mistake amount of such excessive interest that exceeds the unpaid balance of principal hereof and such other indebtedness shall be refunded to Borrower or to any other person making such payment on Borrower's behalfthe Maker. All sums paid or agreed to be paid to Lender the holder of this Note for the use, forbearance or detention of the indebtedness of Borrower evidenced hereby, outstanding from time to time shall, the Maker to the extent permitted by applicable law, holder of this Note shall be amortized, pro-ratedprorated, allocated and an spread from throughout the date full term of disbursement of the proceeds of this Note such indebtedness until payment in full of such indebtedness so that the actual rate of interest on account of such indebtedness is uniform through throughout the term hereofthereof, and, in conjunction therewith, if the loan evidenced by this Note should ever be deemed to consist of two or more loans, then any sum paid or agreed to be paid to the holder hereof for the use, forbearance or detention of the indebtedness of the Maker to the holder of this Note which is deemed to be excessive interest with respect to one or more such loans shall be allocated to the loan(s) for which a maximum lawful rate of interest has not been contracted for, charged or received or for which no maximum rate of interest exists. The terms and provisions of this paragraph shall control all existing and supersede every other provision of all future agreements between Lender Maker and Borrower and any endorser or guarantor of this NotePayee.

Usury Limitations. It is the intention of the parties to conform strictly to applicable usury laws from time to time in force, and all agreements between Borrower and Lender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever and under no circumstance, whether by acceleration of maturity hereof, the happening of any subsequent event including, but not limited to, a prepayment of the principal indebtedness in whole or in part, or otherwise, shall the amount paid or agreed Lender intend to be paid to Lender, or collected by Lender, for the use, forbearance or detention of the money to be loaned hereunder or otherwise, or for the payment or performance of any covenant or obligation contained herein or in the Mortgage or in any other Loan Documents, or in any other document evidencing, securing, or pertaining comply with all Laws with respect to the indebtedness evidenced hereby, exceed the maximum amount permissible under applicable usury laws. If under any circumstances whatsoever fulfillment of any provision hereof or of the Mortgage or any other Loan Documents, at the time performance of such provision shall be due, shall involve an amount or any portion thereof in excess of the limit of validity prescribed by law, then IPSO FACTO, the payment to be made or the amount to be delivered to be fulfilled shall be reduced to the limit of such validity; charging and if under any circumstances Lender shall ever receive an amount deemed interest, by applicable law, which would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing hereunder or to other indebtedness secured by the Mortgage and not to the payment receiving of interest, . Any amounts charged or if such excessive interest exceeds the unpaid balance of principal and other indebtedness, the excess shall be deemed to have been a payment made received by mistake and shall be refunded to Borrower or to any other person making such payment on Borrower's behalf. All sums paid or agreed to be paid to Lender for the use, use or forbearance or detention of the indebtedness of Borrower evidenced hereby, outstanding from time to time shall, Principal to the extent permitted by applicable lawLaw, will be amortized, pro-rated, allocated amortized and spread from throughout the date of disbursement of the proceeds of this Note Term until payment in full of such indebtedness so that the actual rate or amount of interest charged or received by Lender on account of the Principal does not exceed the Maximum Interest Rate. If any amount charged or received under the Loan Documents that is deemed to be interest is determined to be in excess of the amount permitted to be charged or received at the Maximum Interest Rate, the excess will be deemed to be a prepayment of Principal when paid, without premium, and any portion of the excess not capable of being so applied will be refunded to Borrower. If during the Term the Maximum Interest Rate, if any, is eliminated, then for the purposes of the Loan, there will be no Maximum Interest Rate. In addition to the foregoing, Lender and Borrower stipulate and agree that all fees, charges, goods, things in action or any other sums or things of value (collectively, the “Additional Interest”) paid by Borrower to Lender, whether pursuant to the Note, the Loan Documents or otherwise with respect to the Obligations, which under applicable law may be deemed to be interest with respect to the Obligations, for purposes of any applicable law which may limit the maximum rate of interest on account to be charged with respect to the Obligations, shall be payable by Borrower as, and shall be deemed to be, Additional Interest, and for such purposes only, the agreed upon and contracted for rate of such indebtedness is uniform through interest described in the term hereof. The terms and provisions of this paragraph Note, Loan Documents or otherwise shall control and supersede every other provision of all agreements between Lender and Borrower and any endorser or guarantor of this Notebe deemed to be increased by the Additional Interest.

Usury Limitations. It is the intention of the parties to conform strictly to applicable usury laws from time to time in force, and all agreements between Borrower Grantor and LenderBeneficiary, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever and under no circumstancewhatsoever, whether by acceleration of maturity hereof, the happening of any subsequent event including, but not limited to, a prepayment of the principal indebtedness in whole or in part, Note or otherwise, shall the amount paid or agreed to be paid to LenderBeneficiary, or collected by LenderBeneficiary, for the use, forbearance or detention of the money to be loaned hereunder pursuant to the Loan Agreement, this Deed of Trust or the other Loan Documents or otherwise, or for the payment or performance of any covenant or obligation contained herein or in the Mortgage or in any other Loan DocumentsDocument, or in any other document evidencing, securing, or pertaining to the indebtedness evidenced Indebtedness secured hereby, exceed the maximum amount permissible under applicable usury lawslaws (the "HIGHEST LAWFUL RATE"). If under any circumstances whatsoever fulfillment of any provision hereof or of the Mortgage or any other Loan Documents, at the time performance of such provision shall be due, shall involve an amount or any portion thereof in excess of the limit of validity prescribed by lawHighest Lawful Rate, then IPSO FACTOipso facto, the payment to be made or the amount to be delivered to be fulfilled shall be reduced to the limit of such validity; and if under any circumstances Lender Beneficiary shall ever receive an amount deemed interest, interest by applicable law, law which would exceed the highest lawful rateHighest Lawful Rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing hereunder under the Note or to other indebtedness Indebtedness secured by the Mortgage this Deed of Trust and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and other indebtedness, the excess shall be deemed to have been a payment made by mistake and shall be refunded to Borrower Grantor or to any other person making such payment on BorrowerGrantor's behalf. behalf All sums paid or agreed to be paid to Lender Beneficiary for the use, - forbearance or detention of the indebtedness of Borrower Grantor evidenced and secured hereby, outstanding from time to time shall, to the extent permitted by applicable law, be amortized, pro-ratedprorated, allocated and spread from the date of disbursement of the proceeds of this the Note until payment in full of such indebtedness so that the actual rate of interest on account of such indebtedness is uniform through the term hereof. The terms and provisions of this paragraph shall control and supersede every other provision of all agreements between Lender Beneficiary and Borrower Grantor and any endorser or guarantor of this the Note.. 28

Usury Limitations. It is the intention of the parties to conform confomn strictly to applicable usury laws from time to time in force, and all agreements between Borrower Grantor and LenderBeneficiary, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever and under no circumstancewhatsoever, whether by acceleration of maturity hereof, the happening of any subsequent event including, but not limited to, a prepayment of the principal indebtedness in whole or in part, Note or otherwise, shall the amount paid or agreed to be paid to LenderBeneficiary, or collected by LenderBeneficiary, for the use, forbearance or detention of the money to be loaned hereunder pursuant to the Loan Agreement, this Deed of Trust or the other Loan Documents or otherwise, or for the payment or performance of any covenant or obligation contained herein or in the Mortgage or in any other Loan DocumentsDocument, or in any other document evidencing, securing, or pertaining pertainLng to the indebtedness evidenced Indebtedness secured hereby, exceed the maximum amount permissible under applicable usury lawslaws (the "Highest Lawful Rate"). If under any circumstances whatsoever fulfillment furfillment of any provision hereof or of the Mortgage or any other Loan Documents, at the time performance of such provision shall be due, shall involve an amount or any portion thereof in excess of the limit of validity prescribed by lawHighest Lawful Rate, then IPSO FACTOipso facto, the payment to be made or the amount to be delivered to be fulfilled furfilled shall be reduced to the limit of such validity; and if under any circumstances Lender Beneficiary shall ever receive an amount deemed interest, interest by applicable law, law which would exceed the highest lawful rateHighest Lawful Rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing hereunder under the Note or to other indebtedness Indebtedness secured by the Mortgage this Deed of Trust and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and other indebtedness, the excess shall be deemed to have been a payment made by mistake and shall be refunded to Borrower Grantor or to any other person making such payment on BorrowerGrantor's behalf. All sums paid or agreed to be paid to Lender Beneficiary for the use, forbearance or detention of the indebtedness of Borrower Grantor evidenced and secured hereby, outstanding from time to time shall, to the extent permitted by applicable law, be amortized, pro-ratedprorated, allocated and spread from the date of disbursement of the proceeds of this the Note until payment in full of such indebtedness so that the actual rate of interest on account of such indebtedness is uniform through the term hereof. The terms and provisions of this paragraph shall control and supersede every other provision of all agreements between Lender Beneficiary and Borrower Grantor and any endorser or guarantor of this the Note.