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99103612
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Last modified
3/13/2012 5:07:55 PM
Creation date
10/20/2005 10:56:31 PM
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DEEDS
Inst Number
99103612
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� 99_ 1(�3612 <br /> -20- <br /> readvances made by the Beneficiary or any of the Banks under the Credit <br /> Agreement at any time or times hereafter, whether or not any reference is <br /> made to this Leasehold Deed of Trust at the time such advances are made, <br /> and all such sums shall be equally secured with and, to the extent <br /> permitted by law, have the same priority as the Obligations outstanding <br /> as of the date hereo£ A portion of the indebtedness evidenced by the <br /> Notes is revolving credit indebtedness. The Credit Agreement provides <br /> that the principal sum of $15,000,000 may be advanced, repaid and <br /> readvanced from time to time in accordance with the terms and provision <br /> s of the Credit Agreement. Accordingly, the aggregate principal advances <br /> during the term of the Credit Agreement may exceed $80,000,000; <br /> provided, however, at no time shall the aggregate outstanding principal <br /> balance exceed $80,000,000, except for advances made to protect the lien <br /> of this Leasehold Deed of Trust as hereinabove provided. Grantor agrees <br /> that if the outstanding balance of the Credit Agreement, principal and <br /> interest, is ever repaid to zero (despite any express prohibition to the <br /> contrary contained in the Credit Agreement), the lien and security <br /> interest of this Leasehold Deed of Trust shall not be deemed released or <br /> extinguished by operation of law or implied intent of the parties. This <br /> Leasehold Deed of Trust shall remain in full force and effect as to any <br /> further advances or readvances under the Credit Agreement made after <br /> any such zero balance until the Obligations are paid in full, all <br /> agreements to make further advances and readvances have been <br /> terminated and this Leasehold Deed of Trust has been canceled of record. <br /> Grantor waives the operation of any applicable statute, case law or <br /> regulation having a contrary effect. The outstanding principal amount of <br /> the indebtedness under the Credit Agreement will bear interest at a <br /> variable rate or rates calculated in accordance with the terms and <br /> conditions of the Credit Agreement. The Credit Agreement is hereby <br /> incorporated into this Leasehold Deed of Trust with regard to all <br /> references made to it in this Leasehold Deed of Trust. <br /> 5.4. Modi�cation. No change, amendment, modification, <br /> cancellation or discharge of this Leasehold Deed of Trust, or any part <br /> hereof, shall be valid unless in writing and signed by the parties hereto or <br /> their respective successors and assigns. <br /> 5.5. Captions. Section headings are inserted for convenience of <br /> reference only, do not form part of this Leasehold Deed of Trust and shall <br /> be disregarded for purposes of the interpretation of the terms of this <br /> Leasehold Deed of Trust. <br /> 5.6. Governin� Law. The Credit Agreement shall be governed by <br /> and construed in accordance with the laws of the Commonwealth of <br /> BUSDOCS:723319.2 <br />
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