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200804918
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6/9/2008 2:48:26 PM
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6/9/2008 2:48:23 PM
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DEEDS
Inst Number
200804918
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<br />200804918 <br /> <br />Mortgagor will permit Mortgagee or its authorized representatives to enter the Premises <br />at all times during normal business hours for the purpose of inspecting the same; provided, <br />Mortgagee shall have no duty to make such inspections and shall not incur any liability or <br />obligation for making or not making any such inspections. <br /> <br />7.4 Waivers: Releases. Resort to Other Securitv. etc. <br /> <br />Without affecting the liability of any party liable for payment of any Indebtedness or <br />performance of any obligation contained herein, and without affecting the rights of Mortgagee <br />with respect to any security not expressly released in writing, Mortgagee may, at any time, and <br />without notice to or the consent of Mortgagor or any party in interest with the Premises or the <br />Note: (a) release any person liable for payment of all or any part of the Indebtedness or for <br />performance of any obligation herein; (b) make any agreement extending the time or otherwise <br />altering the terms of payment of all or any part of the Indebtedness or modifying or waiving any <br />obligation, or subordinating, modifying or otherwise dealing with the lien or charge hereof, (c) <br />accept any additional security; (d) release or otherwise deal with any property, real or personal, <br />including any or all of the Premises, including making partial releases of the Premises; or (e) <br />resort to any security agreements, pledges, contracts of guarantee, assignments of rents and <br />leases or other security, and exhaust anyone or more of said security and the security hereunder, <br />either concurrently or independently and in such order as it may determine. <br /> <br />7.5 Rights Cumulative. <br /> <br />Each right, power or remedy herein conferred upon Mortgagee is cumulative and in <br />addition to every other right, power or remedy, express or implied, now or hereafter arising, <br />available to Mortgagee, at law or in equity, or under the Code, or under any other agreement, and <br />each and every right, power and remedy of Mortgagee herein set forth or otherwise so existing <br />shall be cumulative to the maximum extent permitted by law and may be exercised from time to <br />time as often and in such order as may be deemed expedient by Mortgagee and any such exercise <br />shall not be a waiver of the right to exercise at any time thereafter of any other right, power or <br />remedy. No delay or omission by Mortgagee in the exercise of any right, power or remedy <br />arising hereunder or arising otherwise shall impair any such right, power or remedy or the right <br />of Mortgagee to resort thereto at a later date or be construed to be a waiver of any Event of <br />Default under this Deed of Trust, the Note or any of the other Loan Documents. <br /> <br />7.6 Future Advances. <br /> <br />This Deed of Trust has been given and is intended to secure the full and prompt payment <br />and performance of the Indebtedness. This Deed of Trust shall secure, among other things, all <br />future advances by Mortgagee to Mortgagor and future obligations of Mortgagor to Mortgagee <br />pursuant to the Note and the other Loan Documents. The priority of the lien hereunder securing <br />such future advances and future obligations shall relate back to the date this Deed of Trust was <br />recorded. The total principal amount of Indebtedness which may be secured hereby at anyone <br />time is Seventeen Million Six Hundred Thousand Dollars ($17,600,000.00). In addition, the <br />Deed of Trust shall secure unpaid balances of advances made by Mortgagee with respect to the <br />Premises, for the payment of insurance premiums and costs incurred for the protection of the <br /> <br />21 <br /> <br />Doc# 2675364\2 <br />
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