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201701776
<br />of any of the foregoing. The Related Documents are hereby made a part of this Security Instrument by reference
<br />thereto, with the same force and effect as if fully set forth herein.
<br />INDEBTEDNESS. This Security Instrument secures the principal amount shown above as may be evidenced by
<br />a promissory note or notes of even, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now or hereafter owing from Rathke Development LLC and Rathke Golf
<br />Inc. to Pathway Bank, howsoever created or arising, whether primary, secondary or contingent, together with
<br />any interest or charges provided in or arising out of such indebtedness, as well as the agreements and covenants of
<br />this Security Instrument and all Related Documents (hereinafter all referred to as the "Indebtedness "). Secured
<br />debt includes, but is not limited to, the following: promissory note with Rathke Development LLC dated
<br />December 30, 2016, in the amount of $328,600.00.00 and promissory note with Rathke Golf Inc. dated
<br />December 30, 2016 in the amount of $71,400.00 and any renewals, extensions or modifications with both
<br />loans.
<br />FUTURE ADVANCES. To the extent permitted by law, this Security Instrument will secure future advances as
<br />if such advances were made on the date of this Security Instrument regardless of the fact that from time to time
<br />there may be no balance due under the note and regardless of whether Lender is obligated to make such future
<br />advances.
<br />CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred, except any obligation
<br />existing or arising against the principal dwelling of any Grantor.
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lender, its successors and assigns, as follows:
<br />Performance of Obligations. Grantor promises to perform all terms, conditions, and covenants of this
<br />Security Instrument and Related Documents in accordance with the terms contained therein.
<br />Defense and Title to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seised of the estate hereby conveyed and has the exclusive right to mortgage, grant, convey and assign the
<br />Property. Grantor covenants that the Property is unencumbered and free of all liens, except for
<br />encumbrances of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and
<br />defend generally the title to the Property against any and all claims and demands whatsoever, subject to the
<br />easements, restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the
<br />schedule of exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interest
<br />in the Property.
<br />Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br />part thereof in good repair, working order, and condition and will from time to time, make all needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired.
<br />Removal of any Part of the Property. Grantor promises not to remove any part of the Property from its
<br />present location, except for replacement, maintenance and relocation in the ordinary course of business.
<br />Alterations to the Property. Grantor promises to abstain from the commission of any waste on or in
<br />connection with the Property. Further, Grantor shall make no material alterations, additions or
<br />improvements of any type whatsoever to the Property, regardless of whether such alterations, additions or
<br />improvements would increase the value of the Property, nor permit anyone to do so except for tenant
<br />improvements and completion of items pursuant to approved plans and specifications, without Lender's prior
<br />written consent, which consent may be withheld by Lender in its sole discretion. Grantor will comply with
<br />all laws and regulations of all public authorities having jurisdiction over the Property including, without
<br />limitation, those relating to the use, occupancy and maintenance thereof and shall upon request promptly
<br />submit to Lender evidence of such compliance.
<br />Due on Sale - Lender's Consent. Grantor shall not sell, further encumber or otherwise dispose of, except as
<br />herein provided, any or all of its interest in any part of or all of the Property without first obtaining the
<br />0 2004 -2016 Compliance Systems, Inc. 7c6102d2- 0ca6359b - 2016.230.4.8
<br />Commercial Real Estate Security Instrument - DL4007 Page 2 of 7 www.compliancesystems.com
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