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201105611
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201105611
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Last modified
9/14/2011 12:31:10 PM
Creation date
8/1/2011 9:01:51 AM
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DEEDS
Inst Number
201105611
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=- 20�105Gf� <br />6.1 Member Con �g_re ag tion. In the event that Borrower shall be dissolved, <br />merge with any other congregation, cease to be a member congregation of The Lutheran <br />Church-Missouri Synod, or cease to use the real estate subject to the aforementioned deed <br />of trust or mortgage for the Borrower's regular worship services, or for its school, <br />parsonage, teacherage, or other religious purposes, the entire principal sum remaining <br />unpaid hereunder, together with accrued interest, may be declared immediately due and <br />payable at the option of the Lender. <br />6.2 Reco�ized Service Or�;anization. In the event that Borrower sha11 be <br />dissolved, merge with any other corporation or entity, cease to be recognized by The <br />Lutheran Church-Missouri Synod as a Recognized Service Organization, or cease to use <br />the real estate subject to the aforementioned deed of trust or mortgage for the religious, <br />charita.ble, or educational purposes of the Borrower, the entire principal sum remaining <br />unpaid hereunder, together with accrued interest, may be declared immediately due and <br />payable at the option of Lender. <br />6.3 Other Entities. In the event that Borrower shall be dissolved, merge with <br />any other corporation or entity, cease to be an auxiliary, an agency or a part of The <br />Lutheran Church-Missouri Synod, or cease to use the real estate subject to the <br />aforementioned deed of trust or mortgage for the religious, charita.ble, or educational <br />purposes of the Borrower, the entire principal sum remauung unpaid hereunder, together <br />with accrued interest, may be declared immediately due and payable at the option of <br />Lender. <br />7. Further Borrowin�. In the event that Borrower shall, subsequent to the date <br />hereof, engage in further borrowing, or become voluntarily indebted to any other lender, without <br />the written consent of the Lender, the entire principal sum remaining unpaid hereunder, together <br />with accrued interest, may be declared immediately due and payable at the option of the Lender. <br />8. Default in Payment or Performance. The entire principal sum remaining unpaid <br />hereunder, together with accrued interest, may be declazed immediately due and payable at the <br />option of the Lender in the event of any of the following: (i) default in the payment of any <br />installment of principal or interest when due in accordance with the terms hereof, (ii) default in <br />the performance of any agreement contained in the mortgage or deed of trust securing payxnent <br />of this Promissory Note, or (iii) default in the performance of any agreement given by Borrower <br />5 <br />
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