Common use of Usury Limitations Clause in Contracts

Usury Limitations. Borrower and Lender intend to comply with all Laws with respect to the charging and receiving of interest. Any amounts charged or received by Lender for the use or forbearance of the Principal to the extent permitted by Law, will be amortized and spread throughout the Term until payment in full so that the 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 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 interest described in the Note, Loan Documents or otherwise shall be deemed to be increased by the Additional Interest.

Usury Limitations. Borrower It is the intention of the parties to confomn strictly to applicable usury laws from time to time in force, and Lender intend all agreements between Grantor and Beneficiary, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever, whether by acceleration of maturity of the Note or otherwise, shall the amount paid or agreed to comply with all Laws with respect be paid to Beneficiary, or collected by Beneficiary, for the use, forbearance or detention of the money to be loaned pursuant to the charging 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 any other Loan Document, or in any other document evidencing, securing, or pertainLng to the Indebtedness secured hereby, exceed the maximum amount permissible under applicable usury laws (the "Highest Lawful Rate"). If under any circumstances whatsoever furfillment of any provision hereof 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 Highest Lawful Rate, then ipso facto, the payment to be made or the amount to be delivered to be furfilled shall be reduced to the limit of such validity; and receiving if under any circumstances Beneficiary 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 under the Note or to other Indebtedness secured by 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 Grantor or to any other person making such payment on Grantor's behalf. Any amounts charged All sums paid or received by Lender agreed to be paid to Beneficiary for the use use, forbearance or forbearance detention of the Principal indebtedness of Grantor evidenced and secured hereby, outstanding from time to time shall, to the extent permitted by Lawapplicable law, will be amortized amortized, prorated, allocated and spread throughout from the Term date of disbursement of the proceeds of the Note until payment in full of such indebtedness so that the actual rate or amount of interest charged or received by Lender on account of such indebtedness is uniform through the Principal does not exceed the Maximum Interest Rateterm hereof. If The terms and provisions of this paragraph shall control and supersede every other provision of all agreements between Beneficiary and Grantor and any amount charged endorser or received under the Loan Documents that is deemed to be interest is determined to be in excess guarantor 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 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 interest described in the Note, Loan Documents or otherwise shall be deemed to be increased by the Additional Interest.

Usury Limitations. Borrower It is the intention of the parties to conform strictly to applicable usury laws from time to time in force, and Lender intend all agreements between Grantor and Beneficiary, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever, whether by acceleration of maturity of the Note or otherwise, shall the amount paid or agreed to comply with all Laws with respect be paid to Beneficiary, or collected by Beneficiary, for the use, forbearance or detention of the money to be loaned pursuant to the charging 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 any other Loan Document, or in any other document evidencing, securing, or pertaining to the Indebtedness secured hereby, exceed the maximum amount permissible under applicable usury laws (the "HIGHEST LAWFUL RATE"). If under any circumstances whatsoever fulfillment of any provision hereof 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 Highest Lawful Rate, 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 receiving if under any circumstances Beneficiary 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 under the Note or to other Indebtedness secured by this Deed of Trust and not to the payment of interest. Any amounts charged , or received 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 Lender mistake and shall be refunded to Grantor or to any other person making such payment on Grantor's behalf All sums paid or agreed to be paid to Beneficiary for the use use, - forbearance or forbearance detention of the Principal indebtedness of Grantor evidenced and secured hereby, outstanding from time to time shall, to the extent permitted by Lawapplicable law, will be amortized amortized, prorated, allocated and spread throughout from the Term date of disbursement of the proceeds of the Note until payment in full of such indebtedness so that the actual rate or amount of interest charged or received by Lender on account of such indebtedness is uniform through the Principal does not exceed the Maximum Interest Rateterm hereof. If The terms and provisions of this paragraph shall control and supersede every other provision of all agreements between Beneficiary and Grantor and any amount charged endorser or received under the Loan Documents that is deemed to be interest is determined to be in excess guarantor 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 BorrowerNote. 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 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 interest described in the Note, Loan Documents or otherwise shall be deemed to be increased by the Additional Interest.28

Usury Limitations. Borrower Maker and Lender Xxxxx intend to comply with all Laws with respect conform strictly to the charging applicable usury laws. Notwithstanding anything to the contrary in this Note or in any other agreement entered into in connection herewith or securing the indebtedness evidenced hereby, whether now existing or hereafter arising and receiving whether written or oral, 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 connection with this loan transaction shall under no circumstances exceed the maximum amount of interest permitted by applicable law. In the event the maturity of this Note is accelerated by reason of an election by the holder hereof resulting from a default hereunder or under any other document executed as security herefor or in connection herewith, or by voluntary prepayment by the Maker, or otherwise, then earned interest may never include more than the maximum rate of interest permitted by applicable law, computed from the dates of each advance of the loan proceeds outstanding until payment. If from any circumstance any holder of this Note shall ever receive interest or any other charges constituting interest, or adjudicated as constituting interest, the amount, if any, which would exceed the maximum rate of interest permitted by applicable law shall be applied to the reduction of the principal amount owing on this Note or on account of any other principal indebtedness of the Maker to the 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 amount of such excessive interest that exceeds the unpaid balance of principal hereof and such other indebtedness shall be refunded to the Maker. Any amounts charged All sums paid or received by Lender agreed to be paid to the holder of this Note for the use use, forbearance or forbearance detention of the Principal indebtedness of the Maker to the extent permitted by Lawholder of this Note shall be amortized, will be amortized and prorated, allocated an spread throughout the Term full term of such indebtedness until payment in full so that the actual rate or amount of interest charged or received by Lender on account of such indebtedness is uniform throughout the Principal does not exceed term thereof, and, in conjunction therewith, if the Maximum Interest Rate. If loan evidenced by this Note should ever be deemed to consist of two or more loans, then any amount charged sum paid or received under agreed to be paid to the Loan Documents that 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 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 excessive interest with respect to one or more such loans shall be allocated to the Obligationsloan(s) for which a maximum lawful rate of interest has not been contracted for, charged or received or for purposes of any applicable law which may limit the no maximum rate of interest to be charged with respect to the Obligations, exists. The provisions of this paragraph shall be payable by Borrower as, control all existing and shall be deemed to be, Additional Interest, future agreements between Maker and for such purposes only, the agreed upon and contracted for rate of interest described in the Note, Loan Documents or otherwise shall be deemed to be increased by the Additional InterestPayee.

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 intend 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 comply with all Laws with respect 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 charging 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 receiving 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. Any amounts charged All sums paid or received by agreed to be paid to Lender for the use use, forbearance or forbearance detention of the Principal indebtedness of Borrower evidenced hereby, outstanding from time to time shall, to the extent permitted by Lawapplicable law, will be amortized amortized, pro-rated, allocated and spread throughout from the Term date of disbursement of the proceeds of this Note until payment in full of such indebtedness so that the actual rate or amount of interest charged or received by Lender on account of such indebtedness is uniform through the Principal does not exceed the Maximum Interest Rateterm hereof. If any amount charged or received under the Loan Documents that is deemed to be interest is determined to be in excess The terms and provisions of the amount permitted to be charged or received at the Maximum Interest Rate, the excess will be deemed to be a prepayment this paragraph shall control and supersede every other provision 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, all agreements between Lender and Borrower stipulate and agree that all fees, charges, goods, things in action any endorser or any other sums or things guarantor of value (collectively, the “Additional Interest”) paid by Borrower to Lender, whether pursuant to the this 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 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 interest described in the Note, Loan Documents or otherwise shall be deemed to be increased by the Additional Interest.