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<br />5. Balloon Payment Date. On the first day of the month following the Completion Date on which the
<br />Construction Phase ends, the loan evidenced by the Note will be due and payable in full ("Balloon Payment
<br />Date").
<br />6. Security Agreement and Financing Statement. The property covered by this Security Instrument includes
<br />the Property previously described or referred to in this Security Instrument, together with the following, all
<br />of which are referred to as the "Property." The portion of the Property that constitutes real property is
<br />sometimes referred to as the "Real Property." The portion of the Property which constitutes personal
<br />property is sometimes referred to as the "Personal Property," and is described as follows: (i) Borrower's
<br />right to possession of the Property; (ii) any and all fixtures, machinery, equipment, building materials, plans,
<br />specifications architect's agreements, construction contracts, appliances, and goods of every nature
<br />whatsoever now or hereafter located in, or on, or used, or intended to be used in connection with the
<br />Property or the Improvements, and all replacements of and accessions to those goods; (iii) proceeds and
<br />products of the Personal Property and (iv) the Equity Deposit Account and the Disbursement Account, and
<br />all proceeds of the foregoing. Capitalized terms not otherwise defined shall have the meanings ascribed
<br />hereto in the Loan Documents referenced therein.. Despite any other provision of this Rider or any other
<br />Loan Document, however, Lender is not granted, and will not have, a non -purchase money security interest
<br />in household goods, to the extent that such a security interest would be prohibited by applicable law.
<br />This Security Instrument is and shall be a security agreement granting Lender a first and prior security
<br />interest in all of Borrower's right, title and interest in and to the Personal Property, under and within the
<br />meaning of applicable state laws, as well as a document granting a lien upon and against the Real Property.
<br />In the event of any foreclosure sale, whether made by Trustee, or under judgment of a court, all of the Real
<br />Property and Personal Property may, at the option of Lender, be sold as a whole or in parcels. It shall not be
<br />necessary to have present at the place of such sale the Personal Property or any part thereof. Lender, as well
<br />as Trustee on Lender's behalf, shall have all the rights, remedies and recourse with respect to the Personal
<br />Property afforded to a "Secured Party" by applicable state laws in addition to and not in limitation of the
<br />other rights and remedies afforded Lender and/or Trustee under this Security Instrument. Borrower shall,
<br />upon demand, pay to Lender the amount of any and all expenses, including the fees and disbursements of
<br />Lender's legal counsel and of any experts and agents, which Lender may incur in connection with: (i) the
<br />making and/or administration of this Security Instrument; (ii) the custody, preservation, use or operation of,
<br />or the sale of, collection from, or other realization upon any Property, real and/or personal, described in this
<br />Security Instrument; (iii) the exercise or enforcement of any of the rights of Lender under this Security
<br />Instrument; or (iv) the failure by Borrower to perform or observe any of the provisions or covenants in this
<br />Security Instrument.
<br />Lender may, at its election, at any time after the delivery of this Security Instrument, sign one or more
<br />copies of this Security Instrument in order that such copies may be used as a financing statement under
<br />applicable state laws. Lender's signature need not be acknowledged, and is not necessary to the
<br />effectiveness hereof as a deed of trust, a security agreement, or (unless otherwise required by applicable law)
<br />a financing statement.
<br />Borrower also authorizes Lender to sign and file, without Borrower's signature, such financing and
<br />continuation statements, amendments, and supplements thereto, and other documents that Lender may from
<br />time to time deem necessary to perfect, preserve and protect Lender's security interest in the Property. If any
<br />other documents are necessary to protect Lender's interest in the Property, Borrower agrees to sign these
<br />documents whenever Lender asks. Borrower also gives Lender permission to sign these documents for
<br />Borrower.
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