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200003557
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Last modified
10/13/2011 12:55:36 PM
Creation date
10/20/2005 8:20:36 PM
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DEEDS
Inst Number
200003557
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200003557 <br />Exchange Act of 1934, or any investment adviser registered under the Investment Adviser Act of <br />1940, as amended, (i) any government, any public employees' pension or retirement system, or any <br />other government agency supervising the investment of public funds, 0) any mortgage conduit which <br />is in the business of originating loans for securitization in the capital markets, or (k) any other entity <br />all of the equity owners of which are Institutional Lenders; provided that each of the foregoing shall <br />have net assets equal to or greater than $500,000,000, be in the business of making commercial <br />mortgage loans, secured by properties of like type, size and value as the Property and have a long <br />term credit rating which is not less than investment grade. The term "Operative Period" means (a) <br />if Borrower fails to provide Lender with a Refinance Letter on or prior to the Refinance Notification <br />Date, the period commencing on the Refinance Notification Date and ending on the date on which <br />the indebtedness secured hereby has been paid in full, or (b) if Borrower provides Lender with a <br />Refinance Letter on or prior to the Refinance Notification Date and the Void Commitment Date <br />occurs, the period commencing on the Void Commitment Date and ending on the date on which the <br />indebtedness secured hereby has been paid in full. <br />Section 2. Curtailment Reserve. <br />Immediately upon the commencement of an Operative Period, Borrower shall establish and <br />maintain at all times thereafter while this Security Instrument remains in effect a reserve (the <br />"Curtailment Reserve ") with Lender, which Curtailment Reserve shall be additional security for the <br />indebtedness secured hereby and the performance by Borrower of the Obligations. Borrower <br />hereby pledges, assigns and grants to Lender a continuing perfected security interest in and to and <br />first lien upon the Curtailment Reserve. Borrower hereby acknowledges and confirms that (i) the <br />Curtailment Reserve shall not constitute a trust fund and may be commingled with other monies <br />held by Lender, and (ii) Lender or its designee shall have the sole right to make withdrawals from <br />the Curtailment Reserve. No interest on the funds contained in the Curtailment Reserve shall be <br />paid by Lender to Borrower. The Curtailment Reserve is solely for the protection of Lender and <br />entails no responsibility on Lender's part beyond the allowing of due credit for sums actually <br />received. The terms and conditions of the Curtailment Reserve shall be governed by this Special <br />Stipulation and the terms and conditions of the Lockbox Agreement relating to the Curtailment <br />Reserve. <br />GMACCM SLP DOT 8/98 B-6 6 ATLd Isle, Nebraska <br />- ( ) Grand Isle, Nebraska <br />
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