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201305319
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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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66 <br />201305319 <br />Section 14.5. Copy of Mortgage. Borrower represents and warrants that it has received a <br />true copy of this Mortgage without charge. <br />Section 14.6. Modification Priority. This Mortgage is subject to "modification" as such <br />term is defined in P.L. 1985 c.353 (N.J.S.A. 46 -9 -8.1 et seq.) and shall be subject to the priority <br />provisions thereof. <br />Section 14.7. Fixture Financing Statement. Without limiting anything in Section 1.2, <br />this Mortgage constitutes a security agreement under the New Jersey Uniform Commercial Code <br />and shall be deemed to also constitute a fixture financing statement. <br />Section 14.8. Future Advances. Without limiting anything in this Mortgage, this <br />Mortgage is given for the purpose of creating a lien on real property in order to secure existing <br />indebtedness, and also future advances, whether made before or after default or maturity or other <br />similar events, to the same extent as if such future advances were made on the date of the <br />execution hereof, although there may be no advance made at the time of the execution hereof and <br />although there may be no indebtedness outstanding at the time any advance is made. The types <br />of future advances secured by and having priority under this Mortgage shall include, without <br />limitation, (i) advances and re- advances of principal under the Credit Agreement and (ii) <br />disbursements and other advances for the payment of taxes, assessments, maintenance charges, <br />insurance premiums or costs relating to the Other Mortgaged Properties located in New Jersey, <br />for the discharge of liens having priority over the lien of this Mortgage, for the curing of waste of <br />the Other Mortgaged Properties located in New Jersey and for the payment of service charges <br />and expenses incurred by reason of default and including late charges, attorney's fees and court <br />costs, together with interest thereon. The lien of this Mortgage, as to third persons with or <br />without actual knowledge thereof, shall be valid as to all such indebtedness and future advances, <br />from the date of recordation. <br />Section 14.9. Deficiency. Mortgagor waives all rights or defenses arising by reason of <br />any "one action" and any Requirement of Law prohibiting the Administrative Agent from <br />making a claim for deficiency, to the extent the Administrative Agent is otherwise entitled to a <br />claim for deficiency, whether before or after the Administrative Agent's commencement or <br />completion of any foreclosure action or any other action to exercise its remedies hereunder or <br />otherwise available at a law or in equity. <br />Section 14.10. Jury Trial Waiver. TO THE FULLEST EXTENT PERMITTED BY <br />ANY APPLICABLE REQUIREMENT OF LAW, MORTGAGOR AND ADMINISTRATIVE <br />AGENT EACH HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY <br />JURY IN ANY ACTION, CLAIM, SUIT OR PROCEEDING RELATING TO THIS <br />MORTGAGE AND FOR ANY COUNTERCLAIM BROUGHT THEREIN. MORTGAGOR <br />HEREBY WAIVES ALL RIGHTS TO INTERPOSE ANY COUNTERCLAIM IN ANY SUIT <br />BROUGHT BY ADMINISTRATIVE AGENT HEREUNDER AND ALL RIGHTS TO HAVE <br />ANY SUCH SUIT CONSOLIDATED WITH ANY SEPARATE SUIT, ACTION OR <br />PROCEEDING. <br />
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