Common use of FUTURE ADVANCES; PROTECTION OF PROPERTY Clause in Contracts

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust shall secure any additional loans as well as any and all present or future advances and re-advances under the Credit Agreement or any other Liabilities made by Beneficiary or any Tranche A Lender to or for the benefit of Grantor, the Company, the other Guarantors or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents or this Deed of Trust; (b) all advances by Beneficiary to Grantor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary for the enforcement and protection of the Property or the lien of this Deed of Trust; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee by reason of any default or otherwise in connection with the Liabilities. Grantor agrees that if, at any time during the term of this Deed of Trust or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor fails to perform or observe any covenant or obligation under this Deed of Trust including, without limitation, payment of any of the foregoing, Trustee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary shall be added to the amount secured by this Deed of Trust (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by the Tranche A Loans, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 4 contracts

Samples: Security Agreement and Fixture Filing (Radnor Holdings Corp), Security Agreement and Fixture Filing (Radnor Holdings Corp), Security Agreement and Fixture Filing (Radnor Holdings Corp)

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FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust shall secure any additional loans as well as any and all present or future advances and re-advances under the Credit Agreement Indenture or any other Liabilities made by Beneficiary or any Tranche A Lender Secured Party to or for the benefit of Grantor, the Company, the other Guarantors or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit AgreementIndenture, the Other Documents or this Deed of Trust; (b) all advances by Beneficiary to Grantor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary for the enforcement and protection of the Property or the lien of this Deed of Trust; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee by reason of any default or otherwise in connection with the Liabilities. Grantor agrees that if, at any time during the term of this Deed of Trust or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor fails to perform or observe any covenant or obligation under this Deed of Trust including, without limitation, payment of any of the foregoing, Trustee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary shall be added to the amount secured by this Deed of Trust (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by the Tranche A LoansSecurities, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 4 contracts

Samples: Styrochem U S LTD, Styrochem U S LTD, Styrochem U S LTD

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust The parties intend that this Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances readvances under the Credit Agreement Indenture or any other Liabilities made by Beneficiary Mortgagee or any Tranche A Lender Secured Party to or for the benefit of GrantorMortgagor, the Company, the other Guarantors or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit AgreementIndenture, the Other Documents or this Deed of TrustMortgage; (b) all advances by Beneficiary Mortgagee to Grantor Mortgagor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary Mortgagee for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Property or the lien of this Deed of TrustMortgage; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee Mortgagee by reason of any default or otherwise in connection with the Liabilities. Grantor Mortgagor agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Mortgagor fails to perform or observe any covenant or obligation under this Deed of Trust Mortgage including, without limitation, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee shall be added to the amount secured by this Deed of Trust Mortgage (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by the Tranche A LoansSecurities, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Styrochem U S LTD), Security Agreement and Fixture Filing (Styrochem U S LTD)

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances readvances under the Credit Loan Agreement or any other Liabilities made by Beneficiary Mortgagee or any Tranche A Lender to or for the benefit of GrantorMortgagor, the Company, the other Guarantors Borrowers or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit Loan Agreement, the Other Documents or this Deed of TrustMortgage; (b) all advances by Beneficiary Mortgagee to Grantor Mortgagor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary Mortgagee for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Property or the lien of this Deed of TrustMortgage; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee Mortgagee by reason of any default or otherwise in connection with the Liabilities. Grantor Mortgagor agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Mortgagor fails to perform or observe any covenant or obligation under this Deed of Trust Mortgage including, without limitation, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee shall be added to the amount secured by this Deed of Trust Mortgage and the Loan Agreement (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by Default Rate set forth in the Tranche A LoansNote, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 2 contracts

Samples: Radnor Holdings Corp, Radnor Holdings Corp

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances readvances under the Credit Agreement or any other Liabilities made by Beneficiary or any Tranche A Lender to or for the benefit of Grantor, the Company, the other Guarantors Mortgagor or the PropertyProperty within twenty (20) years from the date hereof (whether such advances are obligatory or are made at the option of Mortgagee or otherwise), including, without limitation: (ai) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents Liabilities or this Deed of TrustMortgage; (bii) all advances by Beneficiary to Grantor Mortgagor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvementsimprovements on the Property; (ciii) all advances made or costs incurred by Beneficiary Mortgagee for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Property or the lien of this Deed of TrustMortgage; and (div) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee Mortgagee or Mortgagee by reason of any default or otherwise in connection with the Liabilities. Grantor The total amount of the Liabilities that may be so secured may decrease to a zero amount from time to time, or may increase from time to time, but the total unpaid balance secured at any one time shall not exceed Twenty Million Dollars ($20,000,000.00). Mortgagor agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Mortgagor fails to perform or observe any covenant or obligation under this Deed of Trust Mortgage including, without limitation, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee pursuant to this Section shall be added to the amount secured by this Deed of Trust Mortgage and the other Loan Documents (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by applicable to payments of overdue principal and interest as set forth in the Tranche A LoansNotes (the “Default Rate”), if such failure constitutes an Event of Default, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Trailer Bridge Inc)

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust The parties intend that this Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances under the Credit Agreement or any other Liabilities made by Beneficiary Mortgagee or any Tranche A Lender to or for the benefit of GrantorMortgagor, the Company, the other Guarantors or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents or this Deed of TrustMortgage; (b) all advances by Beneficiary Mortgagee to Grantor Mortgagor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary Mortgagee for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Property or the lien of this Deed of TrustMortgage; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee Mortgagee by reason of any default or otherwise in connection with the Liabilities. Grantor Mortgagor agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Mortgagor fails to perform or observe any covenant or obligation under this Deed of Trust Mortgage including, without limitation, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee shall be added to the amount secured by this Deed of Trust Mortgage (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by the Tranche A Loans, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Radnor Holdings Corp)

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust is governed by Section 443.055, RSMo. (2000). In accordance with Section 443.055, RSMo. (2000), this Deed of Trust shall secure any additional loans as well as any and all present or future advances and re-advances under the Credit Agreement or any other Liabilities made by Beneficiary or any Tranche A Lender to or for the benefit of Grantor, the Company, the other Guarantors or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents or this Deed of Trust; (b) all advances by Beneficiary to Grantor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary for the enforcement and protection of the Property or the lien of this Deed of Trust; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee by reason of any default or otherwise in connection with the Liabilities. Grantor agrees that if, at any time during the term of this Deed of Trust or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor fails to perform or observe any covenant or obligation under this Deed of Trust including, without limitation, payment of any of the foregoing, Trustee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary shall be added to the amount secured by this Deed of Trust (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by the Tranche A Loans, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Radnor Holdings Corp)

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust is governed by Section 443.055, RSMo. (2000). In accordance with Section 443.055, RSMo. (2000), this Deed of Trust shall secure any additional loans as well as any and all present or future advances and re-advances under the Credit Agreement Indenture or any other Liabilities made by Beneficiary or any Tranche A Lender Secured Party to or for the benefit of Grantor, the Company, the other Guarantors or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit AgreementIndenture, the Other Documents or this Deed of Trust; (b) all advances by Beneficiary to Grantor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary for the enforcement and protection of the Property or the lien of this Deed of Trust; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee by reason of any default or otherwise in connection with the Liabilities. Grantor agrees that if, at any time during the term of this Deed of Trust or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor fails to perform or observe any covenant or obligation under this Deed of Trust including, without limitation, payment of any of the foregoing, Trustee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary shall be added to the amount secured by this Deed of Trust (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by the Tranche A LoansSecurities, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 1 contract

Samples: Styrochem U S LTD

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FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust The parties intend that this Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances readvances under the Credit Agreement or any other Liabilities made by Beneficiary Mortgagee or any Tranche A Lender to or for the benefit of GrantorMortgagor, the Company, the other Guarantors or the Property, including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents or this Deed of TrustMortgage; (b) all advances by Beneficiary Mortgagee to Grantor Mortgagor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary Mortgagee for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Property or the lien of this Deed of TrustMortgage; and (d) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee Mortgagee by reason of any default or otherwise in connection with the Liabilities. Grantor Mortgagor agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Mortgagor fails to perform or observe any covenant or obligation under this Deed of Trust Mortgage including, without limitation, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee shall be added to the amount secured by this Deed of Trust Mortgage (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by the Tranche A Loans, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Radnor Holdings Corp)

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances readvances under the Credit Agreement or any other Liabilities made by Beneficiary or any Tranche A Lender Mortgagee to or for the benefit of Grantor, the Company, the other Guarantors Mortgagor or the Property, Property within twenty (20) years from the date hereof (whether such advances are obligatory or are made at the option of Mortgagee or otherwise) including, without limitation: (a) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents Liabilities or this Deed of TrustMortgage; (b) all advances by Beneficiary Mortgagee to Grantor Mortgagor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvementsimprovements on the Property; (c) all advances made or costs incurred by Beneficiary Mortgagee for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Property or the lien of this Deed of TrustMortgage; and (d) all legal fees, costs and other expenses reasonably incurred by Beneficiary and/or Trustee Mortgagee by reason of any default or otherwise in connection with the Liabilities. Grantor The total number of the Liabilities that may be so secured may decrease to a zero amount from time to time, or may increase from time to time, but the total unpaid balance secured at any one time shall not exceed twice the original principal balance of the Note. Xxxxxxxxx agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Xxxxxxxxx fails to perform or observe any covenant or obligation OR BK 30519 PG 0372 under this Deed of Trust Mortgage including, without limitation, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee shall be added to the amount secured by this Deed of Trust Mortgage and the other Loan Documents (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by Default Rate set forth in the Tranche A LoansNote, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 1 contract

Samples: Construction Loan Agreement (Arvida JMB Partners L P)

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances readvances under the Credit Agreement or any other Liabilities indebtedness made by Beneficiary or any Tranche A Lender Mortgagee to or for the benefit of Grantor, the Company, the other Guarantors Mortgagor or the PropertyMortgaged Property within twenty (20) years from the date hereof (whether such advances are obligatory or are made at the option of Mortgagee or otherwise), including, without limitationarising from the following circumstances: (a) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents or this Deed of Trust; (b) all advances by Beneficiary to Grantor or any other person to pay costs of erection, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (ci) all advances made or costs incurred by Beneficiary Mortgagee pursuant to the terms of the Loan Documents for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Mortgaged Property or the lien of this Deed of TrustMortgage; and (dii) all reasonable legal fees, costs costs, and other expenses incurred by Beneficiary and/or Trustee Mortgagee by reason of any default or otherwise in connection with such indebtedness. The total amount of such indebtedness that may be so secured may decrease to a zero amount from time to time, or may increase from time to time but the Liabilitiestotal unpaid balance secured at any one time shall not exceed twice the amount of the Note. Grantor Mortgagor agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Mortgagor fails to perform or observe any payment or performance covenant or obligation under this Deed of Trust includingMortgage beyond any applicable grace period, without limitationif any, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee shall be added to the amount secured by this Deed of Trust Mortgage and the other Loan Documents (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on within five (5) business days of written demand, together with interest at the rate borne by Default Rate set forth in the Tranche A LoansNote, such interest to be calculated from the date of such advance to the date of repayment thereofthereof WAIVER OF TRIAL BY JURY. MORTGAGOR AND MORTGAGEE HEREBY MUTUALLY, KNOWINGLY, WILLINGLY, INTENTIONALLY AND VOLUNTARILY WAIVE THEIR RIGHT TO TRIAL BY JURY AND NO PARTY NOR ANY ASSIGNEE, SUCCESSOR, HEIR, OR LEGAL REPRESENTATIVE OF THE PARTIES (ALL OF WHOM ARE HEREINAFTER COLLECTIVELY REFERRED TO AS THE "PARTIES") SHALL SEEK A JURY TRIAL IN ANY LAWSUIT, PROCEEDING, COUNTERCLAIM OR ANY OTHER LITIGATION PROCEEDING BASED UPON OR ARISING OUT OF THIS MORTGAGE OR ANY ASSOCIATED LOAN DOCUMENTS OR ANY INSTRUMENT EVIDENCING, SECURING OR RELATING TO THE INDEBTEDNESS OR OTHER OBLIGATIONS SECURED HEREBY OR ANY RELATED AGREEMENT OR INSTRUMENT, ANY OTHER COLLATERAL FOR THE INDEBTEDNESS SECURED HEREBY OR ANY COURSE OF ACTION, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS RELATING TO THE LOAN EVIDENCED BY THE NOTE OR TO THIS MORTGAGE. THE PARTIES ALSO WAIVE ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL HAS NOT BEEN WAIVED. THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN FULLY NEGOTIATED BY THE PARTIES. THE WAIVER CONTAINED HEREIN IS IRREVOCABLE, CONSTITUTES A KNOWING AND VOLUNTARY WAIVER, AND SHALL BE SUBJECT TO NO EXCEPTIONS. MORTGAGEE HAS IN NO WAY AGREED WITH OR REPRESENTED TO MORTGAGOR OR ANY OTHER PARTY THAT THE PROVISIONS OF THIS PARAGRAPH WILL NOT BE FULLY ENFORCED IN ALL INSTANCES.

Appears in 1 contract

Samples: Third Mortgage Deed and Security Agreement (AGU Entertainment Corp.)

FUTURE ADVANCES; PROTECTION OF PROPERTY. This Deed of Trust Mortgage shall secure any additional loans as well as any and all present or future advances and re-advances readvances under the Credit Agreement or any other Liabilities made by Beneficiary or any Tranche A Lender Mortgagee to or for the benefit of Grantor, the Company, the other Guarantors Mortgagor or the PropertyProperty within twenty (20) years from the date hereof (whether such advance are obligatory or made at the option of Bank or otherwise), including, without limitation: (ai) principal, interest, late charges, fees and other amounts due under the Credit Agreement, the Other Documents Liabilities or this Deed of TrustMortgage; (bii) all advances by Beneficiary to Grantor or any other person to pay costs after an Event of erectionDefault, construction, alteration, repair, restoration, maintenance and completion of any Improvements; (c) all advances made or costs incurred by Beneficiary Mortgagee for the payment of real estate taxes, assessments or other governmental charges, maintenance charges, insurance premiums, appraisal charges, environmental inspection, audit, testing or compliance costs, and costs incurred by Beneficiary Mortgagee for the enforcement and protection of the Property or the lien of this Deed of TrustMortgage; and (diii) all legal fees, costs and other expenses incurred by Beneficiary and/or Trustee Mortgagee by reason of any default or otherwise in connection with the LiabilitiesLiabilities permitted by the Loan Documents. Grantor The total amount of the Liabilities that may be so secured may decrease to a zero amount from time to time, or may increase from time to time, but the total unpaid balance secured at any one time shall not exceed Twenty Million Nine Hundred Fifty Thousand and No/100 Dollars ($20,950,000.00). Mortgagor agrees that if, at any time during the term of this Deed of Trust Mortgage or following a foreclosure hereof (whether before or after the entry of a judgment of foreclosure), Grantor Mortgagor fails to perform or observe any covenant or obligation under this Deed of Trust Mortgage including, without limitation, payment of any of the foregoing, Trustee Mortgagee may (but shall not be obligated to) take such steps as are reasonably necessary to remedy any such nonperformance or nonobservance and provide payment thereof. All amounts advanced by Trustee or Beneficiary Mortgagee shall be added to the amount secured by this Deed of Trust Mortgage and the other Loan Documents (and, if advanced after the entry of a judgment of foreclosure, by such judgment of foreclosure), and shall be due and payable on demand, together with interest at the rate borne by Default Rate set forth in the Tranche A LoansNote, such interest to be calculated from the date of such advance to the date of repayment thereof.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Levitt Corp)

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