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202403013
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Last modified
7/1/2024 3:40:49 PM
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7/1/2024 3:40:47 PM
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DEEDS
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202403013
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202403013 <br />without negotiating such check(s) for payment, and further agrees not to interfere with or impede in any way Lender' s sole <br />right to receive the entire sum of the subject insurance proceeds. <br />H. AGREEMENT FOR ADDITIONAL INDEBTEDNESS AND CROSS -COLLATERAL. The Security <br />Instrument, Note, this Rider, the additional notes described immediately above and any documents evidencing any other <br />indebtedness of the Borrower in favor of the Lender, as well as any documents evidencing the security for any of the <br />foregoing, are sometimes collectively referred to herein as the — Loan Documents." Notwithstanding anything contained <br />herein or contained in any of the Loan Documents to the contrary and provided not prohibited by applicable state law, it is <br />expressly agreed that the real and/or personal property described in the Loan Documents secures not only the <br />indebtedness described therein, but also is hereby cross- collateralized to secure all indebtedness by Borrower in favor of <br />Lender, including without limitation, all indebtedness under the Loan Documents plus such future and additional <br />advances of any and all nature as may be made to Borrower by Lender (Lender to be the sole judge as to whether or not <br />any such future or additional advances will be made) as well as any additional indebtedness of any nature of Borrower <br />heretofore, now or hereafter contracted with or otherwise acquired by Lender, before the release and/or cancellation of <br />record of the subject security interest and/or lien of the Loan Documents, whether such indebtedness be direct or <br />contingent and whether represented by promissory notes, open accounts, overdraft, assignment, endorsement, guaranty <br />pledge or otherwise, including also any indebtedness of Borrower as a joint maker, surety, endorser or guarantor together <br />with all extensions, renewals and modifications, and whether otherwise secured or not. The security interest and/or lien of <br />the Loan Documents shall remain in full force and effect as security for all of the indebtedness described herein, including <br />all existing and future advances and other extensions of credit from Lender to Borrower, and shall not be cancelled until <br />all of such indebtedness is paid in full and the actual cancellation of the security interest and/or lien of the Loan <br />Documents on the public records. <br />1. AGREEMENT TO PROVIDE LENDER REQUESTED INFORMATION. During the term of this loan, <br />within thirty (30) days after Lender' s written request, Borrower agrees to provide to Lender with any or all of the <br />following: <br />1. Updated personal financial statements; <br />2. Copies of tax returns for the current and preceding years, not to extend beyond five (5) years from the date of <br />the last calendar year preceding said request;. <br />3. Any and all other financial information as requested by Lender; <br />4. Any and all information or documents that might be requested or required by Lender or by any regulatory <br />authority; and/or <br />5. Additional title opinion updates from an attorney approved or selected by Lender. <br />J. CORRECTION PROVISION. In the event any of the documents evidencing and/or securing any and all of the <br />above -referenced indebtedness misstate or inaccurately reflect the true and correct terms and provisions of any such <br />indebtedness, and said misstatement or inaccuracy is due to unilateral mistake on the part of Lender, mutual misstate on <br />the part of Lender and Borrower, clerical error, or any error in the notarial acknowledgment, Borrower shall immediately <br />upon request by Lender and in order to correct such misstatement or inaccuracy, execute such new documents or initial <br />such corrected original documents as Lender may deem necessary in its sole discretion to remedy said inaccuracy or <br />mistake. <br />K. LEGISLATION AFFECTING LENDER'S RIGHTS. If enactment or expiration of any applicable law, statute, <br />regulation and/or rule has the effect of rendering unenforceable any provision respecting the repayment terms, interest <br />adjustments, or transfer of property under any of the above -referenced indebtedness, Lender, at its option and in its sole <br />discretion, may require. <br />Borrower to modify such term(s) or provision(s), as applicable. If Lender exercises this option, Lender will give <br />notice to Borrower specifying the action required to modify the applicable term(s) or provision(s), and a date, not less than <br />Grand Bank Rider <br />IDS, Inc. - 95729 <br />Page 3 of 4 <br />1 <br />1�� 1 <br />1 <br />
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