200804918 - Laserfiche WebLink

Browse

200804918 Mortgagee may, at its option (i) reduce the obligations to be fulfilled to such limit on interest, or (ii) apply the amount that would exceed such limit on interest to the reduction of the outstanding principal balance of the Note, and not to the payment of interest, with the same force and effect as though Mortgagor had specifically designated such sums to be so applied to principal and Mortgagee had agreed to accept such extra payment(s) as a prepayment without a fee, so that in no event shall any exaction be possible under the Note that is in excess of the applicable limit on interest. 10.14 Time ofthe Essence. Mortgagor agrees that time is of the essence with respect to all of the covenants, agreements and representations under this Deed of Trust. 10.15 Survival of Representations Warranties and Covenants. All representations covenants and warranties contained herein, or in any of the other Loan Documents shall survive the delivery of the Note, this Deed of Trust and all other Loan Documents and the provisions hereof shall continue to inure to the benefit of Mortgagee, its successors and assigns. 10.16 Waiver of Jurv Trial. No party to this Deed of Trust or any assignee, successor, heir or personal representative of a party shall seek a jury trial in any lawsuit, proceeding, counterclaim, or any other litigation proceedings based upon or arising out of this Deed of Trust, any related agreement or instrument, any other collateral for the Indebtedness or the dealings or the relationship between or among the parties, or any of them. No party will seek to consolidate any such action, in which a jury trial has been waived, with any other action in which a jury trial cannot or has not been waived. The provisions of this paragraph have been fully discussed by the parties hereto, and these provisions shall be subject to no exceptions. No party has in any way agreed with or represented to any other party that the provisions of this paragraph will not be fully enforced in all instances. 10.17 Minimum Reauirement. Mortgagor recognizes that the requirements imposed upon Mortgagor hereunder, including, without limitation, insurance requirements, are minimum requirements as determined by Mortgagee and do not constitute a representation that the requirements are complete or adequate. Mortgagor understands that it is Mortgagor's duty and responsibility to act prudently and responsibly at all times for Mortgagor's protection and for the protection of the Premises. 10.18 Nebraska Provisions. (a) Principles of Construction. In the event of any inconsistencies between the terms and conditions of this Section 10.18 and the terms and conditions of any other Section of this Deed of Trust, the terms and conditions of this Section 10.18 shall control and be binding. 32 Doc# 2675364\2