Common use of Future Advances Clause in Contracts

Future Advances. Lender may from time to time, in Lender’s discretion, make optional future or additional advances (collectively, “Future Advances”) to Borrower, except that at no time shall the unpaid principal balance of all indebtedness secured by the lien of this Instrument, including Future Advances, be greater than an amount equal to two hundred percent (200%) of the original principal amount of this Note as set forth on the first page of this Instrument plus accrued interest and amounts disbursed by Lender under Section 12 or any other provision of this Instrument that treats a disbursement by Lender as being made under Section 12. All Future Advances shall be made, if at all, within twenty (20) years after the date of this Instrument, or within such lesser period that may in the future be provided by law as a prerequisite for the sufficiency of actual or record notice of Future Advances as against the rights of creditors or subsequent purchasers for value. Borrower shall, immediately upon request by Lender, execute and deliver to Lender a promissory note evidencing each Future Advance together with a notice of such Future Advance in recordable form. All promissory notes evidencing Future Advances shall be secured, pari passu, by the lien of this Instrument, and each reference in this Instrument to the Note shall be deemed to be a reference to all promissory notes evidencing Future Advances.

Future Advances. Lender may from time to time, in Lender’s discretion, make optional future or additional advances (collectively, “Future Advances”) to Borrower, except that at no time shall will the unpaid principal balance of all indebtedness secured by the lien Lien of this Instrument, including Future Advances, be greater than an amount equal to two hundred percent (200%) % of the original principal amount of this the Note as set forth on the first page of this Instrument plus accrued interest and amounts disbursed by Lender under Section 12 7 or any other provision of this Instrument or the other Loan Documents that treats a disbursement by Lender as being made under Section 127. All Future Advances shall will be made, if at all, within twenty (20) 20 years after the date of this Instrument, or within such lesser period that may in the future be provided by law as a prerequisite for the sufficiency of actual or record notice of Future Advances as against the rights of creditors or subsequent purchasers for value. Borrower shallwill, immediately upon request by Lender, execute and deliver to Lender a promissory note evidencing each Future Advance together with a notice of such Future Advance in recordable form. All promissory notes evidencing Future Advances shall will be secured, pari passu, by the lien Lien of this Instrument, and each reference in this Instrument to the Note shall will be deemed to be a reference to all promissory notes evidencing Future Advances.

Future Advances. Lender may from time to time, in LenderXxxxxx’s discretion, make optional future or additional advances (collectively, “Future Advances”) to Borrower, except that at no time shall will the unpaid principal balance of all indebtedness secured by the lien Lien of this Instrument, including Future Advances, be greater than an amount equal to two hundred percent (200%) % of the original principal amount of this the Note as set forth on the first page of this Instrument plus accrued interest and amounts disbursed by Lender under Section 12 7 or any other provision of this Instrument or the other Loan Documents that treats a disbursement by Lender Xxxxxx as being made under Section 127. All Future Advances shall will be made, if at all, within twenty (20) 20 years after the date of this Instrument, or within such lesser period that may in the future be provided by law as a prerequisite for the sufficiency of actual or record notice of Future Advances as against the rights of creditors or subsequent purchasers for value. Borrower shallXxxxxxxx will, immediately upon request by LenderXxxxxx, execute and deliver to Lender a promissory note evidencing each Future Advance together with a notice of such Future Advance in recordable form. All promissory notes evidencing Future Advances shall will be secured, pari passu, by the lien Lien of this Instrument, and each reference in this Instrument to the Note shall will be deemed to be a reference to all promissory notes evidencing Future Advances.

Future Advances. Lender may from time to time, in LenderXxxxxx’s discretion, make optional future or additional advances (collectively, “Future Advances”) to Borrower, except that at no time shall the unpaid principal balance of all indebtedness secured by the lien of this Instrument, including Future Advances, be greater than an amount equal to two hundred percent (200%) of the original principal amount of this Note as set forth on the first page of this Instrument plus accrued interest and amounts disbursed by Lender under Section 12 or any other provision of this Instrument that treats a disbursement by Lender Xxxxxx as being made under Section 12. All Future Advances shall be made, if at all, within twenty (20) years after the date of this Instrument, or within such lesser period that may in the future be provided by law as a prerequisite for the sufficiency of actual or record notice of Future Advances as against the rights of creditors or subsequent purchasers for value. Borrower shall, immediately upon request by LenderXxxxxx, execute and deliver to Lender a promissory note evidencing each Future Advance together with a notice of such Future Advance in recordable form. All promissory notes evidencing Future Advances shall be secured, pari passu, by the lien of this Instrument, and each reference in this Instrument to the Note shall be deemed to be a reference to all promissory notes evidencing Future Advances.

Future Advances. Lender may from time to time, in LenderXxxxxx’s discretion, make optional future or additional advances (collectively, “Future Advances”) to Borrower, except that at no time shall the unpaid principal balance of all indebtedness secured by the lien of this Instrument, including Future Advances, be greater than an amount equal to two hundred percent (200%) of the original principal amount of this Note the Bond Mortgage Loan as set forth on the first page in Section 1(e) of this Instrument plus accrued interest thereon and amounts disbursed by Lender under Section 12 or any other provision of this Instrument that treats a disbursement by Lender Xxxxxx as being made under Section 12. All Future Advances shall be made, if at all, within twenty (20) years after the date of this Instrument, or within such lesser period that may in the future be provided by law as a prerequisite for the sufficiency of actual or record notice of Future Advances as against the rights of creditors or subsequent purchasers for value. Borrower shall, immediately upon request by LenderXxxxxx, execute and deliver to Lender a promissory note evidencing each Future Advance together with a notice of such Future Advance in recordable form. All promissory notes evidencing Future Advances shall be secured, pari passu, by the lien of this Instrument, and each reference in this Instrument to the Note Indebtedness shall be deemed to be a reference to include all promissory notes evidencing Future Advances.