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201906785
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Last modified
10/30/2019 4:14:35 PM
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10/30/2019 4:14:31 PM
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DEEDS
Inst Number
201906785
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201906785 <br />Lender dated as of September 17, 2014, (g) that certain promissory note in the original principal amount <br />of $850,000.00 executed by Borrower for the benefit of Lender dated as of May 8, 2015, (h) that certain <br />promissory note in the original principal amount of $2,750,000.00 executed by Borrower for the benefit <br />of Lender dated as of November 6, 2015, that certain promissory note in the principal amount of <br />$1,300,500.00 executed by Borrower for the benefit of Lender dated as of February 16, 2016, that certain <br />promissory note in the principal amount of $734,400.00 executed by Borrower for the benefit of Lender <br />dated as of August 1, 2016, and that certain promissory note in the principal amount of $1,965,200.00 <br />executed by Borrower for the benefit of Lender dated as of November 2, 2018, and that certain <br />promissory note in the original principal amount of $1,530,000.00 executed by Borrower for the benefit <br />of Lender dated as of June 7, 2019 ("Related Documents"). <br />12.2 CROSS -DEFAULT. BORROWER covenants and agrees for the benefit of Lender that <br />an Event of Default under any of the Related Documents shall also constitute an Event of Default <br />hereunder and shall entitle Lender to exercise any and all rights provided herein or otherwise available at <br />law or in equity. Should an Event of Default occur under any of the Loan Documents or the Related Loan <br />Documents, Lender may, at its option, foreclose any or all of this Deed of Trust or the deeds of trust <br />and/or mortgages securing the Related Documents. If Lender shall foreclose any of this Deed of Trust or <br />the deeds of trust and/or mortgages securing the Related Documents, then the sale by Lender of the <br />property secured thereby shall not exhaust Lender's foreclosure rights and remedies as to the other such <br />properties, and Lender is specifically allowed to have successive sales conducted under applicable <br />foreclosure provisions until all of the properties shall be sold or the entire indebtedness of the Note or the <br />Related Documents notes are extinguished. <br />12.3 CROSS -COLLATERALIZATION. The loan evidenced by the Note and the loans <br />evidenced by the Related Documents are cross -collateralized; specifically, BORROWER covenants and <br />agrees that, in the event that any of this Deed of Trust or the deeds of trust and/or mortgages securing the <br />Related Documents are foreclosed, and the proceeds of such foreclosure exceeds the primary <br />indebtedness secured thereby, the excess proceeds shall be retained by Lender and applied to the <br />outstanding indebtedness in such order and manner as Lender shall determine. Lender shall be entitled to <br />retain all proceeds of any foreclosure sale until all indebtedness secured by this Deed of Trust and the <br />deeds of trust and/or mortgages securing the Related Documents shall have been paid in full. <br />2932707_3 <br />[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] <br />30 <br />
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