Laserfiche WebLink
proceedings authorized by the Mortgage or by the Illinois Mortgage Foreclosure Law (735 ILCS 5/15 1101) <br />(collectively, "Protective Advances"), shall have the benefit of all applicable provisions of the Illinois <br />Mortgage Foreclosure Law (735 ILCS 5/15 1101). All Protective Advances shall be additional Obligations, <br />and shall become immediately due and payable without notice and with interest thereon from the date of <br />the advance. The Mortgage shall be a Lien for all Protective Advances as to subsequent purchasers and <br />judgment creditors from the time the Mortgage is recorded pursuant to Subsection (b)(1) of Section 5/15 <br />1302 of the Illinois Mortgage Foreclosure Law (735 ILCS 5/15 1101). All Protective Advances shall, <br />except to the extent, if any, that any of the same is clearly contrary to or inconsistent with the provisions of <br />the Illinois Mortgage Foreclosure Law (735 ILCS 5/15 1101), apply to and be included in: <br />(A) determination of the amount of Obligations by the Mortgage at <br />any time; <br />(B) the Obligations found due and owing to Administrative Agent in <br />the judgment of foreclosure and any subsequent supplemental judgments, orders, adjudications or findings <br />by the court of any additional Obligations becoming due after such entry of judgment, it being agreed that <br />in any foreclosure judgment, the court may reserve jurisdiction for such purpose; <br />(C) if right of redemption has not been waived by Mortgagor in the <br />Mortgage, computation of amount required to redeem, pursuant to Subsections (d)(2) and (e) of Section <br />5/15 1603 of the Illinois Mortgage Foreclosure Law (735 ILCS 5/15 1101); <br />(D) determination of amount deductible from sale proceeds pursuant <br />to Section 5/15 1512 of the Illinois Mortgage Foreclosure Law (735 ILCS 5/15 1101); <br />(E) application of income in the hands of any receiver or <br />Administrative Agent in possession; and <br />(F) computation of any deficiency judgment pursuant to Subsections <br />(b)(2) and (e) of Sections 5/15 1508 and Section 5/15 1511 of the Illinois Mortgage Foreclosure Law (735 <br />ILCS 5/15 1101). <br />ARTICLE XII <br />'Reserved -1 <br />ARTICLE XIII <br />Special Mississippi Provisions <br />Section 13.1. Inconsistencies. With respect to the Property located in the state of Mississippi, the <br />provisions set forth in this Article shall apply to and be made a part of the Mortgage. In the event of any <br />inconsistencies between the terms and provisions of this Article and the other terms and provisions of this <br />Mortgage, or to the extent, and only to the extent, any of the terms and provisions in this Article conflict <br />with, or are ambiguous when read together with, any of the other terms and provisions of this Mortgage, <br />the provisions of this Article shall govern, Capitalized words and phrases contained in this Article shall <br />have the definition ascribed to them in the main body of the Mortgage, unless the context manifestly <br />requires otherwise. <br />Section 13.2. Revolving Credit, Future Advances and Maximum Principal Amount Secured. It is <br />contemplated and acknowledged that the secured indebtedness secured hereby may include revolving credit <br />55 <br />144646513 <br />GO <br />