|
. . . ._ . _ . .- _ ___ _ _
<br /> ., -
<br /> _ . . . . � ,•z.,. . . . . . , . � -. --;i,;i:r.-_
<br /> . . : . . . - , . , . . .. , , _ _ - • _ _ .- . _-'.C'".
<br /> � __- � . � . ` . . . �. _. <.. . .. _ . _ . . . . . . ._ . . . . r. ' ' ' ' ' ' ' ' ' _'_ '" '' " ' ' ' ' ' "� ' ' ' .'.
<br /> � .` .� ` , -.` ' ' . ` - � ` . . < . _�. � " ` . ' . ' • � . - ' . . . _ . --�..�., � � • . �
<br /> ' � " ` � , - . . . .
<br /> :a i _ . � . _ � . � � . _����o� Ia�839 . . . �.�
<br /> ,- .- . . � , � � ._.: . � . �
<br /> � _ � . . ; , _ , � . .
<br /> ' . � .` . ' , . ` �� � ` \ �iij `Amended Third Promissor � a e. The paymen� o�. • .
<br /> ` _ '. � . . . t�ie� gYincipal� ahd • n�ere.st o�� the Amen e �� id �rom3.ssory Note . � �.
<br /> ` �'` sha3i b�e as set �orth �n the Am�nded ThiYd Promissory Nate: , . . � ���
<br /> i: � -. . _—_. �+ � � - ' � � -—_ - -_-
<br /> ,°_ . . �------ .l�f�� Farag�atph 8 .araertds- an�:u�difies -�he.-�i��h: Amendatea� of
<br /> . - . � , �f�fie'� Fi�rsTier 8ank, ,National Ass�ci�tian, . �Liaco�, Netrraska � � ` � � `
<br /> . , �ConsCructioai� Loan� Agreemeat .�- The Yancey, dated January 1, i989 ' �
<br /> ` , ( Cc�str.ucricn Loan Agre�ment"�, by and between Borrawer and � `
<br /> � r.,�nac=� ana' £ncorporates here�n ,�he Construction Loan Atg�eement by '
<br /> .. ` . . reference. • The parties �agree that shpuld the terms under this � �
<br /> r . ' ;, � �axa�raph b� and tt�e t�rms of the Construction Loan Agreement bie �
<br /> _ � incons�stent, the terms of this Paragraph S sha2l �cont�.ol. �
<br /> _ . .$ ' . .
<br /> � �; � � 9. DeFenses. � Arter has no de.fenses or of€sets agai,nst the � ' '
<br /> . , , . payment� o�'�ipal or interes� of the� unpaid balance as set � � `
<br /> � forth in Paragraphs 3 and 5 above. , , . `' , �
<br /> . . . . , .
<br /> -. - , . 1Q. R�aigir�ation.. Arter reaff-irm, represent and warrant, �
<br /> , . , (which •reaf irmation, repzesentation and warranties, shall survive ' •
<br /> � � � � the terminatioa .of the Loan Documents, as amended and definea �9
<br /> . herein, and 'the� repayment of any laans made pursuant thereto)
<br /> the warranties, representations, covenarits�, terms and conditions.
<br /> - .. - • as Contained in the �Second Promissory Note, as amended and
<br /> � � , restated as � the Amended Second Promissory Note, Third_ Promissory
<br /> . Note, as amended and resta,ted as the Amended Third Prontissory ' ' �� � �
<br /> Note, Sixth Guarantee, as amended, ancl tbe other i,oan Documents; , •
<br /> ; as madifiec£ and defir��r3 herein. Such reaffirmation, �
<br /> ' representatio� and warrant�es shall not be construed to be a �,�'
<br /> waiver by �.ender of any r�:ssih�e ��iaults or breaches by Harrawe� �-
<br /> � under the Loan E���,:r.ten�s, as amended and defined herein. ` -
<br /> � Harrcwer's reqt�est �or 'dis�ursements and advartcemes�t's ander the � �=��
<br /> � Second Promissory Note or any other Note shall be a reafFirmatioa� �� -
<br /> {�.-_
<br /> of the warra nties, covenants, terms and conditions as contained �':��-
<br /> in Ehe Loan Documents, as amenaecl and defined herein. --
<br /> il. Ffnancial Statements. All previously submitte�l finan-
<br /> � cial statements to the Len er are true, complete and accurate as � �
<br /> oF the date they are signed and Horroa�er agrees that if ar�y � °
<br /> change occurs that �:aterially re�sces the Bor�o:oer's means and � �
<br /> � � ; abfZities to pay alw .claim� �r demand� a3ainst that garticulac
<br /> � Bortvwer, that Horrower �s:.�.i immec3iate11 notify the i�.ender in
<br /> . writing; and unle'ss so no�-f�ied, Lender may continue to re�y upon
<br /> . � the financial stater.:ents as a true, complete and accurate shate-
<br /> ment of the Borrower`$ financial condition.
<br /> i ,
<br /> , I2. Continued L�ia� b_� ili��. Arter and ail ather pa�wies who �
<br /> . are or here�ter may become primarily or secondarily liab].e far ���.
<br /> � the payment oF the obligation evider�ced by the Laa�: Documents, as
<br /> . amended and redefined herein, and any €urther extensions, modi�i- � .
<br /> cations, substitutions, or cener�;als thereof, do hereby agree to
<br /> remain liable tv the Lendeso its successors and assigns, in the
<br /> � eveat that an! readvanoement, extension oF the time for repaytnent
<br /> � or modiEication of the maturity date under � the �Ament3ed �Seco�d�-��-� � -� ��-�-
<br /> Promiss.ory Note, and/or the Amenaed Third Pramissory Note, is '
<br />. � given to th� Porrower or its surcessvrs or assign$ in interest. �
<br /> 13. Securit . The Amended Second Promissory Note, and
<br /> : Amended Thir Promissory Note, ar.e secured by the Deed oE Trust,
<br /> Lower Level Trust Deed, Parkin9 Lat Trust b�ed, and other Loan
<br /> Documents which contain provisions for among other things, the
<br /> acceleratien of ttre Maturity Uate of the Ameaded Second ' � r
<br /> - � Pramis�ar�-'Pivi:e, and zhe 1�nended Third Promissary Note, ugofl the '
<br /> happening of certain stated events. � �
<br /> -- . .. �4. Ote�ter. ��r.c�s; �� i� ��� �gree�e�ct ��t� �i1L�I1L2�JR of �rtet - _ _ '__ .._
<br /> and Lender that, ex,rept as modified in thss Agreemenk, alZ the � �� �
<br /> tesms a�tid conditians of the Ld�n .C�ocuments, ds amE�ded �r�d
<br /> � � redefined herein, shall remain unchangeri and in €aI2 farce and
<br /> . �ffect. The parties furthec r�gree and int�end �h�t the beed ot
<br /> Trast, Lower Leve�. �rust Deed anel Parking Lat Tru�� Deec� sec�ring � �
<br /> said Loan DoCUmeats as am�nded and redef. ined herein are in�en�ed • �
<br /> � , � to �nd shall remain i� €tsl� force and E!�fPCfi a� if ±t:e te::�s �� . , -
<br /> _ �., ..
<br /> . - B - .
<br /> � �
<br /> . ,,
<br />
|