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201305319
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Last modified
8/19/2014 2:23:28 PM
Creation date
7/2/2013 4:44:32 PM
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DEEDS
Inst Number
201305319
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201305319 <br />Mortgagor as a "trustor," Trustee as a "trustee," this Mortgage as a "trust deed" and the Property <br />as "trust property." <br />Section 13.3. MORTGAGOR UNDERSTANDS THAT (A) THIS MORTGAGE IS <br />A TRUST DEED AND NOT A MORTGAGE (UNLESS ADMINISTRATIVE AGENT <br />ELECTS TO FORECLOSE THIS MORTGAGE AS A MORTGAGE), AND (B) THE <br />POWER OF SALE PROVIDED FOR IN THIS MORTGAGE PROVIDES <br />SUBSTANTIALLY DIFFERENT RIGHTS, DUTIES AND OBLIGATIONS ON <br />MORTGAGOR THAN A MORTGAGE IN EVENT OF DEFAULT OR BREECH OF AN <br />OBLIGATION. <br />ARTICLE XIV <br />Special New Jersey Provisions <br />Section 14.1. Inconsistencies. With respect to the Property located in the state of New <br />Jersey, the provisions set forth in this Article shall apply to and be made a part of the Mortgage. <br />In the event of any inconsistencies between the terms and provisions of this Article and the other <br />terms and provisions of this Mortgage, or to the extent, and only to the extent, any of the terms <br />and provisions in this Article conflict with, or are ambiguous when read together with, any of the <br />other terms and provisions of this Mortgage, the provisions of this Article shall govern. <br />Capitalized words and phrases contained in this Article shall have the definition ascribed to them <br />in the main body of the Mortgage, unless the context manifestly requires otherwise. <br />Section 14.2. Mortgagor. Notwithstanding Mortgagor being captioned as above in this <br />Mortgage, the Mortgagor of the Other Mortgaged Properties located in New Jersey is: BKEP <br />MATERIALS, L.L.C. (formerly SemMaterials Energy Partners, L.L.C., a Delaware limited <br />liability company), a Texas limited liability company. <br />Section 14.3. Remedies. All references in this Mortgage to self help, non judicial <br />foreclosure and power of sale shall be deemed to apply to the Other Mortgaged Properties <br />located in New Jersey only to if and to the extent permitted by New Jersey law. If any provision <br />of this Mortgage is inconsistent with any applicable provision of New Jersey law, the provision <br />of New Jersey law shall take precedence over the provisions of this Mortgage as affects the <br />Other Mortgaged Properties located in New Jersey, but shall not invalidate or render <br />unenforceable any other provision of this Mortgage that can fairly be construed in a manner <br />consistent with New Jersey law. <br />Section 14.4. Non - Merger. The rights of the Administrative Agent set forth herein <br />shall, to the extent not prohibited by law, extend to the period from and after the filing of any suit <br />to foreclose the lien of this Mortgage, the entry of judgment and any subsequent period including <br />any period allowed by law for the redemption of the Other Mortgaged Properties located in New <br />Jersey after any foreclosure sale, and interest shall accrue on the judgment in the same manner <br />and at the same rate as provided in the Credit Agreement, subject only to the usury savings <br />clauses of the Credit Agreement and this Mortgage, until Administrative Agent has received <br />irrevocable payment in full of all Obligations. <br />65 <br />
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