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201508663
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Last modified
12/22/2015 4:45:44 PM
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12/22/2015 4:37:30 PM
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DEEDS
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201508663
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20 1508663 <br />to the Lender, but no such assignment shall be construed as a consent by the Lender to <br />any agreement, contract, license or permit or to impose upon the Lender any obligations <br />with respect thereto. <br />(b) From time to time, the Borrower will furnish, within thirty (30) days after <br />written request from the Lender, a written and duly acknowledged statement of the <br />amount due under the Note and this Mortgage and whether any alleged offsets or <br />defenses exist against the Debt. <br />(c) The Borrower and the Lender shall, at the request of the other, promptly <br />correct any defect, error or omission which may be discovered in the contents of this <br />Mortgage or in the execution or acknowledgment hereof or in any other instrument <br />executed in connection herewith or in the execution or acknowledgment of such <br />instrument and will execute and deliver any and all additional instruments as may be <br />requested by the Lender or the Borrower, as the case may be, to correct such defect, error <br />or omission. <br />20. Subrogation. If any part of the Debt is used directly or indirectly to pay off, <br />discharge or satisfy, in whole or in part, any prior lien or encumbrance upon the Mortgaged <br />Property or any part thereof, then by advancing the monies to make such payment, the Lender <br />shall be subrogated to the rights of the holder thereof in and to such other lien or encumbrance <br />and any additional security held by such holder, and shall have the benefit of the priority of the <br />same. <br />21. Governing Law. EXCEPT AS SPECIFICALLY SET FORTH HEREIN, <br />THIS MORTGAGE SHALL BE GOVERNED BY AND CONSTRUED IN <br />ACCORDANCE WITH THE LAWS OF THE STATE OF MISSOURI, EXCEPT TO THE <br />EXTENT (A) OF PROCEDURAL AND SUBSTANTIVE MATTERS RELATING ONLY <br />TO THE CREATION, PERFECTION AND /OR ENFORCEMENT OF THE LIENS, <br />ASSIGNMENTS AND /OR SECURITY INTERESTS CREATED HEREIN AND TO THE <br />ENFORCEMENT OF LENDER'S RIGHTS AND REMEDIES AGAINST THE <br />PROPERTY, WHICH MATTERS SHALL BE GOVERNED BY AND CONSTRUED IN <br />ACCORDANCE WITH THE LAWS OF THE STATE OF NEBRASKA AND (B) THAT <br />THE LAWS OF THE UNITED STATES OF AMERICA AND ANY RULES, <br />REGULATIONS, OR ORDERS ISSUED OR PROMULGATED THEREUNDER <br />APPLICABLE TO THE AFFAIRS AND TRANSACTIONS OF LENDER AND /OR <br />BORROWER OTHERWISE PREEMPT MISSOURI OR NEBRASKA LAW, IN WHICH <br />EVENT SUCH FEDERAL LAW SHALL CONTROL. IN PARTICULAR, THE <br />PARTIES HERETO AGREE THAT ALL ISSUES RELATING TO USURY, <br />LIMITATIONS ON INTEREST, LOAN CHARGES AND COMMITMENT FEES <br />PAYABLE UNDER THE OBLIGATIONS AND THE LOAN DOCUMENTS SHALL BE <br />GOVERNED BY MISSOURI LAW. <br />51668048.5 <br />22. Business Loan. <br />(a) The Borrower declares, represents, certifies and agrees that the proceeds <br />of the Note will be used solely for business purposes and that the loan is exempt from <br />24 <br />
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