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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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2000111SO <br />bankruptcy or insolvency statute, law or regulation or shall file an answer admitting to or not <br />contesting the material allegations of a petition filed against it in such proceedings, or shall not <br />within sixty (60) days after the filing of such petition have the same dismissed or vacated, or shall <br />seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of a <br />material part of its properties, or shall not within sixty (60) days after the appointment, without <br />its consent or acquiescence, of a trustee, receiver or liquidator of any material part of its <br />properties have such appointment vacated; or, <br />(d) Borrower shall fail to cure any default or defaults with respect to <br />its line of credit from Fleet Capital Corporation under the Amended and Restated Loan Agreement <br />dated July 31, 1995, or with respect to any additional or replacement line of credit agreement; or, <br />(e) any event of Fraud; or, <br />(f) the Premises shall be transferred in any manner other than that <br />allowed under the Loan Documents, if any, or any Ownership Interest Impairment shall occur; <br />or, <br />(g) Borrower shall fail to maintain continuous insurance coverage on <br />the Real Estate in such forms and amounts as may be required from time to time under the Loan <br />Documents; or, <br />(h) any default by Borrower under any Lease, or any agreement, assent <br />or acquiescence by Borrower without the prior written consent of American Family, in <br />American Family's reasonable discretion, to, or leading to, any surrender, cancellation, <br />modification, extension, renewal, buy -out or termination of any Lease, or any alternation of the <br />terms of any Lease, or any alteration of Borrower's interest in any Lease; or <br />(i) Borrower shall be terminated, dissolved, liquidated or wound up; <br />or <br />0) Borrower shall fail to comply with or perform any other term, <br />condition or covenant of the Loan Documents, and such failure shall continue for thirty (30) days <br />following the date of mailing written notice to Borrower specifying such failure, provided <br />however that where the cure of such failure cannot be reasonably completed within such thirty <br />(30) days but is being diligently pursued to American Family's reasonable satisfaction, Borrower <br />shall have such additional time to cure such failure as may be necessary, but not more than ninety <br />(90) days from the date of first mailing written notice to Borrower. <br />SECTION 6.2 AMERICAN FAMILY'S RIGHT TO ACCELERATE; <br />IMPOSITION OF DEFAULT RATE. Upon the earlier of: (a) the date on which the <br />Indebtedness is accelerated by American Family, or (b) the date of mailing of notice of an event <br />of default, if such default is not cured after provision of notice and the applicable opportunity to <br />W <br />
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