Common use of Future Advances Clause in Contracts

Future Advances. This Mortgage shall secure not only existing indebtedness, but also such future advances, whether such advances are obligatory or are to be made at the option of Mortgagee, or otherwise, as are made by Mortgagee to Mortgagor after the date hereof, to the same extent as if such future advances were made on the date of the execution of this Mortgage. Nothing in this Mortgage shall be deemed an obligation on the part of the Mortgagee to make any future advances.