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<br />88- 100020 <br /> <br />r <br /> <br />called <br /> <br />the <br /> <br />are <br /> <br />hereinafter <br /> <br />of the preceding <br />"Indebtedness"; <br /> <br />sentence <br /> <br />Whereas, this Deed of Trust also secures the payment of <br />and includes all future or further advances as shall be made at <br />all times, regardless of ~lether proceeds of the Loan have been <br />disbursed by the Beneficiary herein or its successors or assigns, <br />to and for the benefit of ~he Mortgagor, its successors or as- <br />signs, to the same extent as if such future advances were made on <br />the date of the execution of this Deed of Trust. The total amount <br />of Indebtedness secured by thi s Deed of Trust may decrease or <br />increase from time to time but the total unpaid principal balance <br />so secured at anyone time shall not exceed the lesser of: <br />(i) the maximum principal sum permitted by the laws of the state <br />in which the premises are located; or (ii) $7,000,000.00; together <br />wi th interest thereon and any and all disbursements made by the <br />Beneficiary for the payment of taxes, or insurance on the f,IJort- <br />gaged Property covered by the lien of this Deed of Trust and for <br />reasonable attorneys' fees, loan commissions, service charges, <br />liquidated damages, expenses and court costs incurred in the <br />collection of any or all of such sums of money. Such further or <br />future advances shall be considered obligatory advances and the <br />same shall bear interest at the same rate as specified in the Loan <br />Agreement unless such interest rate shall be modified by subse- <br />quent agreement. The Indebtedness shall not be deemed extin- <br />guished by virtue of the fact that the Note or the Loan Agreement <br />may at any time may not evidence a debt actually outstanding; <br /> <br />Whereas, simultaneously with this Deed of Trust, Mortga- <br />gor and Beneficiary are executing several other Revolving Loan <br />Leasehold Deeds of Trust, Assignment of Rents and Security Agree- <br />ments, Revolving Loan Deeds of Trust, Assignment of Rents and <br />Security Agreements, and Re~olving Loan Mortgages, Assignment of <br />Rents and Security Agreement of even date herewith to secure the <br />Loan (the "Mortgages") and lVJortgagor hereby acknowledges and <br />understands that as a substantial consideration and an inducement <br />for the granting of the Loan, Beneficiary requires that this Deed <br />of Trust provide that a default under any of the Mortgages consti- <br />tute an Event of Default (as herein defined) under this Deed of <br />Trust and without such "cross-default" provision Beneficiary would <br />not grant the Loan; and <br /> <br />Whereas, the terms of the Loan Agreement are incorporat- <br />ed by reference herein as though set forth in full detail. In the <br />event of any conflict between the terms and provisions of this <br />Deed of Trust and the Loan Agreement, the terms and provisions of <br />the Loan Agreement shall govern and control. <br /> <br />CON V E Y A NeE: <br /> <br />Mortgagor, to secure the payment of the Indebtedness to <br />Beneficiary and the performance of the covenants and agreements <br />herein contained and in consideration of the further sum of Ten <br />Dollars ($10.00) unto Mortgagor in hand well and truly paid by <br />Beneficiary at or before the sealing and delivery hereof, the <br />receipt whereof is hereby acknowledged, and intending to be <br />-2- <br /> <br />L <br /> <br />L <br /> <br />L <br /> <br /> <br />1 <br />J <br />:J <br />,;:~ <br />-n <br />:t~ <br />..~ <br />t~ <br /> <br />r-- <br /> <br />~ <br /> <br />r' <br />,..- <br />