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200011180
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Last modified
10/13/2011 11:01:45 PM
Creation date
10/20/2005 10:48:30 PM
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DEEDS
Inst Number
200011180
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200011180 <br />prepared by Borrower ready for American Family's execution. Borrower shall reimburse <br />American Family for any out -of- pocket expenses and fees American Family reasonably incurs <br />in connection with such release of collateral, and American Family may, in its sole discretion, <br />require a deposit from Borrower to secure payment of such expenses and fees. All such expenses <br />and fees, if any, shall be deemed Recoverable Costs. <br />SECTION 1.13 SALE OF GUARANTOR. If during the first eight (8) Loan <br />Years, a controlling interest in Guarantor is purchased by a single individual or entity and, if, <br />at any time during the year following such purchase American Family, in its reasonable business <br />judgment, determines that a material adverse change in the capital structure, operations or <br />management of Guarantor has occurred or will occur as a result of such change, then American <br />Family may call the Loan by sending written notice to Guarantor declaring all Indebtedness <br />payable one hundred eighty (180) days after the postmark date of such notice ( "New Maturity <br />Date "). Upon receipt of such notice, Borrower shall continue making scheduled monthly <br />installment payments of principal and interest until the New Maturity Date, at which time the <br />entire unpaid Indebtedness shall become due and payable. Prepayment in full of the <br />Indebtedness occasioned by American Family so calling the Loan shall not be subject to a <br />prepayment premium. <br />SECTION 1.14 TAX INCREMENTAL FINANCING. Borrower represents <br />that the Premises are not currently included in any Tax Incremental Financing ( "TIF ") program <br />or other similar public finance program, and agrees and covenants not to voluntarily include, nor <br />permit inclusion of the Premises in any such program. If the Premises become classified, without <br />the prior consent or permission of American Family, as property located within a TIF district or <br />equivalent district associated with a similar public finance program, Borrower shall not, without <br />the written consent of American Family, avail itself of or otherwise participate in any public <br />financing which becomes available as a result of inclusion of the Premises within such district, <br />nor voluntarily subject itself or the Premises to any assessments or valuation requirements, real <br />estate tax guaranties or other restrictions or agreements associated with such district or financing. <br />Borrower's voluntary inclusion, or acquiescence to the inclusion, of the Premises in a TIF <br />program or a similar public finance program, or voluntary participation in any public financing <br />associated with any such program, or voluntary subjugation of itself or the Premises to any <br />requirements, guaranties or other restrictions or agreements associated with any such program, <br />shall constitute an Event of Default under the Loan Documents and shall give American Family <br />the right to declare all Indebtedness immediately due and payable without further notice. Any <br />prepayment which derives from such Event of Default shall be subject to a prepayment premium <br />as provided in the Note. <br />SECTION 1.15 ADDITIONAL INTEREST. Any and all sums in the form <br />of Late Charges, prepayment premiums or Recoverable Costs which may become due to <br />American Family from Borrower under any Loan Document shall bear Additional Interest. <br />from the date such sums are due until the date such sums are received by American Family. <br />Unless otherwise specified herein, (a) any Late Charges shall become due on the date of the <br />9E <br />
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