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201400400
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Last modified
8/19/2014 2:25:24 PM
Creation date
1/23/2014 3:16:30 PM
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DEEDS
Inst Number
201400400
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- 5 - <br />21 <br />TO HAVE AND TO HOLD the above granted and described Mortgaged Property unto and to <br />the use and benefit of Lender, and the successors and assigns of Lender, forever, provided that <br />the Mortgaged Property shall include Excepted Rights and Excepted Payments, as defined in the <br />Assignment, only to the extent Lender has rights to such Excepted Rights and Excepted <br />Payments as specifically set forth in the Assignment, subject, however to the Permitted <br />Exceptions (hereinafter defined). <br />This Security Instrument is given to secure the following indebtedness and obligations (said <br />indebtedness and obligations being hereinafter collectively called the "Debt "): <br />(a) The full and prompt payment of the principal amount evidenced by the Note, together <br />with interest thereon at the rate or rates set forth therein and, if applicable, the Prepayment <br />Consideration (as defined in the Note); <br />(b) The full and prompt payment and performance of all of the provisions, agreements, <br />covenants and obligations herein contained and contained in any of the Loan Documents <br />(hereinafter defined) and the payment of all other sums therein covenanted to be paid; <br />(c) Any and all additional advances made by Lender pursuant to this Security Instrument or <br />the other Loan Documents to protect or preserve the Mortgaged Property or the lien or security <br />interest created hereby on the Mortgaged Property, or for taxes, assessments or insurance <br />premiums as hereinafter provided or for performance of any of Borrower's obligations hereunder <br />or under the other Loan Documents or for any other purpose provided herein or in the other Loan <br />Documents (whether or not the original Borrower remains the owner of the Mortgaged Property <br />at the time of such advances); <br />(d) Any and all other indebtedness now owing or which may hereafter be owing by Borrower <br />to Lender, however and whenever incurred or evidenced, whether express or implied, direct or <br />indirect, absolute or contingent, or due or to become due, and all renewals, modifications, <br />consolidations, replacements and extensions thereof, it being contemplated by Borrower and <br />Lender that Borrower may hereafter become so indebted to Lender, but expressly excluding the <br />indebtedness evidenced by the New Note as defined in paragraph 19(b) hereof; and <br />(e) Payment and performance of all modifications, amendments, extensions, consolidations, <br />and renewals, however evidenced, of any of the obligations described in (a) through (d) above. <br />PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall <br />well and truly pay to Lender the Debt and every covenant and condition set forth herein and in <br />the Note shall have been satisfied, these presents and the estate and lien hereby granted shall <br />cease, terminate and be void. <br />AND Borrower represents and warrants to and covenants and agrees with Lender as follows: <br />1. Payment of Debt and Performance of Covenants, Conditions and Agreements. <br />Borrower shall pay the Debt at the time and in the manner provided in the Note and in the <br />other Loan Documents. Borrower shall perform, observe or comply with all of the covenants, <br />conditions and agreements contained in the Note, this Security Instrument and any and all <br />other documents (collectively, the "Loan Documents ") now or hereafter executed by <br />
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