Future Advances and Cross-Lien Sample Clauses
Future Advances and Cross-Lien. All other present and future, direct and indirect obligations and liabilities of the Mortgagor, or any one or more of them, with or without others, however evidenced, to the Mortgagee, and all future advances, whether obligatory or optional, from the Mortgagee to the Mortgagor, or any one or more of them, with or without others. (This shall not apply to any obligation or debt incurred for personal, family or household purposes unless the note or guaranty expressly states that it is secured by this Mortgage.) Notwithstanding the foregoing, if this Mortgage is a residential future advance mortgage, as defined in MCL 565.901, the maximum principal amount secured by this Mortgage is $----------, excluding protective advances as defined in MCL 565.901. This Mortgage shall also secure the performance of the promises and agreements contained in this Mortgage. The Mortgagor promises and agrees as follows:
Future Advances and Cross-Lien. All other present and future, direct and indirect obligations and liabilities of the Mortgagor, with or without others, however evidenced, to the Mortgagee, and all future advances, whether obligatory or optional, from the Mortgagee to the Mortgagor, with or without others. (This shall not apply to any obligation or debt incurred for personal, family or household purposes unless the note or guaranty expressly states that it is secured by this Mortgage.) This Mortgage shall also secure the performance of the promises and agreements contained in this Mortgage. The Mortgagor promises and agrees as follows: