Common use of Loan Advances Clause in Contracts

Loan Advances. Advances made under the Note shall be in the form of a continual revolving credit whereby advances may be made, repaid and readvanced from time to time. The Mortgagee shall maintain an account on its books (the "Loan Account"), which shall evidence at all times the amount from time to time outstanding under the Note. This Mortgage secures the unpaid balances of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered to the appropriate County Officer for recordation. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvances, whether such advances and readvances are obligatory or to be made at the option of Mortgagee or otherwise, to the same extent as if such future advances and readvances were made on the date of the execution of this Mortgage although there may be no advance made at the time of execution of this Mortgage or no indebtedness outstanding at the time any advance or readvance is made. The total amount of indebtedness that may be secured by this Mortgage may decrease or increase from time to time; provided, however, that the total unpaid balance secured at any time shall not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereon, and advances made by Mortgagee pursuant to this Mortgage, including without limitation, for the payment of taxes, assessments, insurance premiums, costs for the protection of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection of any or all of such sums of money and interest thereon. It shall be an Event of Default hereunder if Mortgagor shall file a notice pursuant to Section 697.04(1)(b), Florida Statutes, limiting the amount of indebtedness that may be secured by this Mortgage. All future advances and readvances shall be made within twenty (20) years from the date hereof or such longer period of time as may be authorized by Florida law, and all indebtedness created by such future advances and readvances shall be secured hereby. All provisions of this Mortgage shall apply to any future advances or readvances made pursuant to the provisions of this Section. Nothing herein contained shall limit the amount secured by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere provided.

Loan Advances. (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank may in its sole discretion agree to make one or more Loan Advances made under to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Note shall be Maximum Loan Amount. Within the limit of the Maximum Loan Amount in the form of a continual revolving credit whereby advances may be made, repaid and readvanced effect from time to time. The Mortgagee shall maintain an account on its books (the "Loan Account"), which shall evidence and in Bank’s sole discretion, Borrower may borrow, repay, and reborrow at all times the amount any time and from time to time outstanding under during the NoteRevolving Loan Period. This Mortgage secures the unpaid balances If, by virtue of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered to the appropriate County Officer for recordation. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvances, whether such advances and readvances are obligatory or to be made at the option of Mortgagee or otherwise, to the same extent as if such future advances and readvances were payments made on the date Loan during the Revolving Loan Period, the principal amount owed on the Loan prior to the Termination Date reaches zero at any point, Borrower agrees that all of the execution Collateral and all of this Mortgage although there may the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be no advance made at fully entitled to rely on all of the time Collateral and all of execution the Loan Documents unless an appropriate release of this Mortgage all or no indebtedness outstanding at any part of the time Collateral or all or any advance or readvance is madepart of the Loan Documents has been executed by Bank. The total amount of indebtedness that may be secured by this Mortgage may decrease or increase from time to time; provided, however, Borrower acknowledges and agrees that the total unpaid Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount such that in no event shall the aggregate of the outstanding principal balance secured of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed $[***] at any time shall time. This Agreement is not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereona commitment by Bank to make Loan Advances to Borrower but rather sets forth the procedures to be used in connection with periodic requests for Bank to make Loan Advances to Borrower. Borrower hereby acknowledges that Bank is under no obligation to agree to enter into, and advances made by Mortgagee or to enter into, any transaction pursuant to this MortgageAgreement or to make any Loan Advance or Loan hereunder. Borrower shall initiate each Loan Advance by submitting to Bank a written Advance Request at least one (1) Business Day prior to the proposed Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Bank’s honoring of any requests, including without limitationexecution of any instructions, for authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall make reasonable efforts to verify the payment origin of taxes, assessments, insurance premiums, costs for any such communication or the protection identity or authority of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred Person sending it. If the Bank agrees in the collection of any or all of such sums of money and interest thereon. It shall be an Event of Default hereunder if Mortgagor shall file its sole discretion to make a notice Loan Advance pursuant to Section 697.04(1)(b)an Advance Request, Florida Statutes, limiting subject to the amount of indebtedness that may be secured by this Mortgage. All future advances terms and readvances shall be made within twenty (20) years from the date hereof or such longer period of time as may be authorized by Florida law, and all indebtedness created by such future advances and readvances shall be secured hereby. All provisions conditions of this Mortgage Agreement, Bank shall apply make such Loan Advance available to any future advances or readvances made pursuant to Borrower by depositing the provisions same, in immediately available funds, in an account of this Section. Nothing herein contained shall limit the amount secured Borrower designated by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedBorrower and maintained with Bank.

Loan Advances. (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank agrees to make one or more Loan Advances made under to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Note shall be Maximum Loan Amount. Within the limit of the Maximum Loan Amount in the form of a continual revolving credit whereby advances may be made, repaid and readvanced effect from time to time. The Mortgagee shall maintain an account on its books (, during the "Revolving Loan Account")Period, which shall evidence Borrower may borrow, repay, and reborrow at all times the amount any time and from time to time outstanding under from the Note. This Mortgage secures the unpaid balances of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered Effective Date to the appropriate County Officer for recordationearlier of (a) the expiration of the Revolving Loan Period, or (b) the Termination Date. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvancesIf, whether such advances and readvances are obligatory or to be made at the option by virtue of Mortgagee or otherwise, to the same extent as if such future advances and readvances were payments made on the date Note during the Revolving Loan Period, the principal amount owed on the Note prior to the Termination Date reaches zero at any point, Borrower agrees that all of the execution Collateral and all of this Mortgage although there may the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be no advance made at fully entitled to rely on all of the time Collateral and all of execution the Loan Documents unless an appropriate release of this Mortgage all or no indebtedness outstanding at any part of the time Collateral or all or any advance or readvance is madepart of the Loan Documents has been executed by Bank. The total amount of indebtedness that Loan may be secured by this Mortgage may decrease or increase from time to not exceed the Maximum Loan Amount at any time; provided, however, . Borrower acknowledges and agrees that the total unpaid Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount under the Mortgage Warehouse Agreement such that in no event shall the aggregate of the outstanding principal balance secured of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed $150,000,000 at any time shall not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereontime. Upon the expiration of the Revolving Loan Period, and advances made by Mortgagee pursuant to this Mortgage, including without limitation, for the payment of taxes, assessments, insurance premiums, costs for the protection of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection of any or all of such sums of money and interest thereon. It shall be an provided that no Event of Default hereunder has occurred and is continuing, the Revolving Loans shall, without any further action by Bank or Borrower, convert to a term loan (the “Term Loan”) in accordance with the terms of the Promissory Note. No portion of the Loan Advances shall be funded with “plan assets” (within the meaning of 29 C.F.R. §2510.3-101, as modified by Section 3(42) of ERISA) if Mortgagor it would cause Borrower to incur any prohibited transaction excise tax penalties under Section 4975 of the Code. Borrower shall file initiate each Loan Advance by submitting to Bank a notice pursuant written Advance Request at least five (5) Business Days prior to Section 697.04(1)(b)the proposed Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Bank’s honoring of any requests, Florida Statutesexecution of any instructions, limiting authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall have no duty to verify the amount origin of indebtedness that may be secured by any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Mortgage. All future advances and readvances Agreement, each Loan Advance shall be made within twenty (20) years from the date hereof or available to Borrower via wire transfer, in immediately available funds, in an account of Borrower designated by Borrower in its Advance Request for such longer period of time as may be authorized by Florida law, and all indebtedness created by such future advances and readvances shall be secured hereby. All provisions of this Mortgage shall apply to any future advances or readvances made pursuant to the provisions of this Section. Nothing herein contained shall limit the amount secured by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedLoan Advance.

Loan Advances. (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank agrees to make one or more Loan Advances made under to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Note shall be Maximum Loan Amount. Within the limit of the Maximum Loan Amount in the form of a continual revolving credit whereby advances may be made, repaid and readvanced effect from time to time. The Mortgagee shall maintain an account on its books (, during the "Revolving Loan Account")Period, which shall evidence Borrower may borrow, repay, and reborrow at all times the amount any time and from time to time outstanding under from the Note. This Mortgage secures the unpaid balances of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered Effective Date to the appropriate County Officer for recordationearlier of (1) the expiration of the Revolving Loan Period, or (2) the Termination Date. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvancesIf, whether such advances and readvances are obligatory or to be made at the option by virtue of Mortgagee or otherwise, to the same extent as if such future advances and readvances were payments made on the date Loan during the Revolving Loan Period, the principal amount owed on the Loan prior to the Termination Date reaches zero at any point, Borrower agrees that all of the execution Collateral and all of this Mortgage although there may the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be no advance made at fully entitled to rely on all of the time Collateral and all of execution the Loan Documents unless an appropriate release of this Mortgage all or no indebtedness outstanding at any part of the time Collateral or all or any advance or readvance is madepart of the Loan Documents has been executed by Bank. The total amount of indebtedness that Loan may be secured by this Mortgage may decrease or increase from time to not exceed the Maximum Loan Amount at any time; provided, however, . Borrower acknowledges and agrees that the total unpaid Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount under the Mortgage Warehouse Agreement such that in no event shall the aggregate of the outstanding principal balance secured of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed [***] at any time shall not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereontime. Upon the expiration of the Revolving Loan Period, and advances made by Mortgagee pursuant to this Mortgage, including without limitation, for the payment of taxes, assessments, insurance premiums, costs for the protection of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection of any provided that no Default or all of such sums of money and interest thereon. It shall be an Event of Default hereunder if Mortgagor has occurred and is continuing, the Loan shall, without any further action by Bank or Borrower, convert to a term loan (the “Term Loan”) in accordance with the terms hereof. Borrower shall file initiate each Loan Advance by submitting to Bank a notice pursuant written Advance Request at least [***] prior to Section 697.04(1)(b)the proposed Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Bank’s honoring of any requests, Florida Statutesexecution of any instructions, limiting authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall have no duty to verify the amount origin of indebtedness that may be secured by any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Mortgage. All future advances and readvances Agreement, each Loan Advance shall be made within twenty available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Bank. If Bank agrees to make the subject Loan Advance, then no later than the Advance Date Bank shall reflect on its computer system the Loan Advance (20the “Confirmation”). In the event Borrower disagrees with any terms of the Confirmation, Borrower shall immediately notify Bank of such disagreement. An objection by Borrower must state specifically that it is an objection, must specify the provision(s) years from being objected to by Borrower, must set forth such provision(s) in the date hereof or such longer period of time as may manner that Borrower believes they should be authorized by Florida lawstated, and all indebtedness created must be received by such future advances and readvances shall be secured hereby. All provisions of this Mortgage shall apply to any future advances or readvances made pursuant to Bank no more than one (1) Business Day after the provisions of this Section. Nothing herein contained shall limit the amount secured Confirmation was received by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedBorrower.

Loan Advances. Advances made under (a) On the Note shall be in Closing Date or, if later, the form of a continual revolving credit whereby advances may be madedate on which Borrower fulfills all conditions precedent to funding, repaid and readvanced from time Lender will advance to time. The Mortgagee shall maintain an account on its books Borrower $31,200,000 (the "Loan AccountINITIAL ADVANCE"). At the request of the Borrower made in accordance with and subject to the conditions contained in Section 2.1(b), which shall evidence at all times Lender will make a one-time final advance to Borrower (the "FINAL ADVANCE") on or before February 1, 2003 in an amount not to exceed the excess, if any, of the Loan Amount over the sum of (i) the amount from time to time outstanding under by which the Note. This Mortgage secures Initial Advance PLUS the unpaid balances Self Funded Advances exceeds the proceeds, if any, of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Atria Portfolio Loan Document after this Mortgage has been delivered that are applied to the appropriate County Officer for recordation. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvances, whether such advances and readvances are obligatory or to be made at repayment of the option of Mortgagee or otherwise, to Principal Indebtedness PLUS (ii) if the same extent as if such future advances and readvances were made Senior Loan has not been repaid in full on the date of the execution Final Advance, the amounts of this Mortgage although there may be no advance made at the time of execution of this Mortgage or no indebtedness outstanding at Advanced Interest Reserve (the time any advance or readvance amount which is made. The total amount of indebtedness that may be secured by this Mortgage may decrease or increase from time to time; provided, however, that the total unpaid balance secured at any time shall not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereon, and advances made by Mortgagee pursuant to this Mortgage, including without limitation, available for disbursement for the payment Final Advance is the "UNFUNDED/UNRESERVED LOAN AMOUNT"). On the earlier to occur of taxes, assessments, insurance premiums, costs for (1) the protection date of the Mortgaged PropertyFinal Advance and (2) the Unfunded Commitment Termination Date, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection of any or all of such sums of money and interest thereon. It Loan Amount shall be deemed reduced by an Event amount equal to the excess of Default hereunder if Mortgagor shall file a notice pursuant to Section 697.04(1)(b), Florida Statutes, limiting the Unfunded/Unreserved Loan Amount over the amount of indebtedness the Final Advance (the amount by which the Loan Amount is so deemed to be reduced is the "DEEMED LOAN AMOUNT REDUCTION"). It is contemplated that may the Initial Advance will be secured by this Mortgage. All future advances and readvances shall be made within twenty (20) years repaid in whole or in part from the date hereof or such longer period proceeds of time as may be authorized by Florida lawthe Atria Portfolio Loan if and when the same closes and funds. In this regard, it is understood that, if the repayment of the Initial Advance occurs prior to the Final Advance, Borrower shall have the right, subject to compliance with the terms and all indebtedness created by such future advances and readvances shall be secured hereby. All provisions conditions of this Mortgage shall apply Agreement, to any future advances or readvances made pursuant obtain a readvance of an amount equal to the provisions proceeds of this Section. Nothing herein contained the Atria Portfolio Loan which are applied to the reduction of the Principal Indebtedness (i.e., such repayment shall limit increase, dollar for dollar, the amount secured by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedof the Unfunded/Unreserved Loan Amount).

Loan Advances. Advances made under The Lender agrees to make advances to the Note Borrower from time to time until December 1, 1995, subject to all of the terms and conditions of this Agreement. All requests by the Borrower for advances shall be made in such manner and form and with such prior notice to the form of a continual revolving credit whereby advances Lender as the Lender may be made, repaid and readvanced reasonably require from time to time. The Mortgagee Each request for an advance shall maintain an account on its books be for a minimum amount of $50,000.00. Each such request shall contain or be accompanied by such information and documents (the "Loan Account"), which shall evidence at all times be Certified if required by the amount Lender) concerning the Collateral, the Borrower's financial condition, use of the proceeds of such advance and of advances previously made and/or any other matters as the Lender may from time to time outstanding under require. In no event shall the Note. This Mortgage secures the unpaid balances of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered Lender be obligated to the appropriate County Officer for recordation. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvances, whether such advances and readvances are obligatory or to be made at the option of Mortgagee or otherwise, to the same extent as if such future advances and readvances were made on the date of the execution of this Mortgage although there may be no advance made at the time of execution of this Mortgage or no indebtedness outstanding at the time make any advance or readvance is made. The total amount of indebtedness that may be secured by this Mortgage may decrease or increase from time to time; provided, however, that the total unpaid balance secured at any time shall not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereon, and advances made by Mortgagee pursuant to this Mortgage, including without limitation, for the payment of taxes, assessments, insurance premiums, costs for the protection of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection of any or all of such sums of money and interest thereon. It shall be hereunder if an Event of Default has occurred under the Note or if such advance would cause the total principal amount of advances made and outstanding hereunder to exceed the Maximum Loan Amount. Even if Mortgagor the total principal amount of advances outstanding shall file a notice pursuant at any time and for any reason exceed the Maximum Loan Amount, the Borrower shall nonetheless be liable for the entire principal amount outstanding, with interest thereon at the rate and calculated in the manner provided in the Note, in accordance with this Agreement and the Note. If the total principal amount of advances outstanding hereunder shall at any time exceed the Maximum Loan Amount, the Borrower shall immediately pay to Section 697.04(1)(b), Florida Statutes, limiting the Lender upon demand the amount of indebtedness such excess, with interest thereon at the rate and calculated in the manner provided in the Note. The Borrower agrees that may be secured by this Mortgage. All future advances and readvances the Borrower shall be liable for, and the Collateral shall secure, the repayment of each advance made within twenty (20) years from by the date hereof Lender to or for the Borrower hereunder, with interest at the rate and calculated in the manner provided in the Note, whether or not such longer period of time as may be advance was duly requested or authorized by Florida law, the Borrower and whether or not any person requesting such advance was duly authorized to make such request. Subject to all indebtedness created by such future advances of the terms and readvances shall be secured hereby. All provisions conditions of this Mortgage Agreement and the other Loan Documents, the Borrower may borrow hereunder until December 1, 1995. Borrower acknowledges and agrees that on December 1, 1995, the Lender shall apply to any future advances or readvances made pursuant advance to the provisions Borrower the balance of this Section. Nothing herein contained shall limit the amount secured Loan, should such funds not have been previously advanced by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedthe Lender.

Loan Advances. Advances made under the Note Lender shall be in the form of a continual revolving credit whereby make advances may be made, repaid and readvanced from time to time. The Mortgagee shall maintain Borrowers (each an account on its books (the "Loan AccountAdvance"), which shall evidence at all times the amount ) from time to time outstanding under during the Note. This Mortgage secures the unpaid balances of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered to the appropriate County Officer for recordation. It is also expressly provided for term hereof and agreed that this Mortgage secures said future advances and readvances, whether such advances and readvances are obligatory or to be made at the option of Mortgagee or otherwise, to the same extent as if such future advances and readvances were made ending on the date of the execution of this Mortgage although there Maturity Date in such amounts as may be no advance made at requested by Borrowers in accordance with the time of execution of this Mortgage or no indebtedness outstanding at the time any advance or readvance is made. The total amount of indebtedness that may be secured by this Mortgage may decrease or increase from time to timeprovisions hereof; provided, however, that the total unpaid balance secured Outstanding Principal Amount of the Loan at any time shall not exceed Twenty the lesser of (i) Five Million and No/100 Dollars ($20,000,000.005,000,000.00) plus interest thereonor (ii) the Borrowing Base; provided, and advances made by Mortgagee pursuant to this Mortgagehowever, including without limitationin calculating such maximum Outstanding Principal Amount, for in no event shall the payment of taxes, assessments, insurance premiums, costs for parties include the protection of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection amount of any or all of such sums of money and interest thereon. It shall be an Event of Default hereunder if Mortgagor shall file a notice PIK Interest added to the Outstanding Principal Amount pursuant to Section 697.04(1)(b)4(a) below. The Loan will be evidenced by the Note. All requests for Advances shall be made by Borrowers to Lender in writing (in such form as is reasonably satisfactory to Lender) or by telephone request (which shall be promptly confirmed in writing) at least two (2) Business Days prior to the date of the requested Advance, Florida Statutes, limiting which request shall specify the amount of indebtedness the Advance to be made and the date the proceeds of the Advance are requested to be made available to Borrowers (a "Loan Request"). No Loan Request will be made for less than $500,000 or, if less, the aggregate amount of the unused Lender's commitment hereunder, and all Loan Requests will be made for Advances that may are an integer multiple of $500,000 (plus such unused amount). A Loan Request received by Lender on a day that is not a Business Day or that is received by Lender after 2:00 p.m., New York, New York, U.S.A. time, on a Business Day shall be secured treated as having been received by this MortgageLender on the first following Business Day. All future advances and readvances Lender shall not incur liability to Borrowers for treating any such request as a Loan Request if Lender believes in good faith that the Person making the request is an authorized officer of the Borrowing. Advances hereunder shall be made within twenty by direct wire transfer of funds from Lender to an account designated by Borrowers in writing to Lender. The Loan shall be applied by Borrowers to the repayment of the outstanding principal and interest balance, if any, and any fees due and owing under Borrowers' $5,000,000 Credit Facility with Presidential Healthcare Credit Corporation, dated September 26, 2007 (20which Credit Facility shall then be cancelled) years from and for general working capital purposes. Borrowers jointly and severally represent, warrant and covenant that as of the date hereof or such longer period hereof, each Borrower has no liens on any of time as may the Collateral (other than the lien in favor of Presidential Healthcare Credit Corporation which will be authorized by Florida lawsatisfied in full and discharged with the proceeds of the Loan), and each Borrower jointly and severally covenants that it will not dispose of, encumber, mortgage, pledge, assign or grant any security interest in any Collateral or any of such Borrower's other assets to anyone other than Lender (except for Permitted Liens) and that it will at all indebtedness created by such future advances times maintain the Collateral in good condition and readvances shall be secured hereby. All provisions of this Mortgage shall apply to any future advances or readvances made pursuant to the provisions of this Section. Nothing herein contained shall limit the amount secured by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedrepair, normal wear and tear excepted.

Loan Advances. (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank agrees to make one or more Loan Advances made under to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Note shall be Maximum Loan Amount. Within the limit of the Maximum Loan Amount in the form of a continual revolving credit whereby advances may be made, repaid and readvanced effect from time to time. The Mortgagee shall maintain an account on its books (, during the "Revolving Loan Account")Period, which shall evidence Borrower may borrow, repay, and reborrow at all times the amount any time and from time to time outstanding under from the Note. This Mortgage secures the unpaid balances of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered Effective Date to the appropriate County Officer for recordationearlier of (a) the expiration of the Revolving Loan Period, or (b) the Termination Date. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvancesIf, whether such advances and readvances are obligatory or to be made at the option by virtue of Mortgagee or otherwise, to the same extent as if such future advances and readvances were payments made on the date Note during the Revolving Loan Period, the principal amount owed on the Note prior to the Termination Date reaches zero at any point, Borrower agrees that all of the execution Collateral and all of this Mortgage although there may the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be no advance made at fully entitled to rely on all of the time Collateral and all of execution the Loan Documents unless an appropriate release of this Mortgage all or no indebtedness outstanding at any part of the time Collateral or all or any advance or readvance is madepart of the Loan Documents has been executed by Bank. The total amount of indebtedness that may be secured by this Mortgage may decrease or increase from time to time; provided, however, Borrower acknowledges and agrees that the total unpaid Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount under the Mortgage Warehouse Agreement such that in no event shall the aggregate of the outstanding principal balance secured of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed $200,000,000 at any time shall not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereontime. Upon the expiration of the Revolving Loan Period, and advances made by Mortgagee pursuant to this Mortgage, including without limitation, for the payment of taxes, assessments, insurance premiums, costs for the protection of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection of any provided that no Default or all of such sums of money and interest thereon. It shall be an Event of Default hereunder if Mortgagor has occurred and is continuing, the Revolving Loans shall, without any further action by Bank or Borrower, convert to a term loan (the “Term Loan”) in accordance with the terms of the Promissory Note. Borrower shall file initiate each Loan Advance by submitting to Bank a notice pursuant to Section 697.04(1)(b)written Advance Request no later than 1:00 p.m., Jacksonville, Florida Statutestime, limiting on the amount Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of indebtedness that may be secured Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Mortgage. All future advances and readvances Agreement, each Loan Advance shall be made within twenty available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Bank. If the conditions to making a Loan Advance as set forth in Section 5 are satisfied, then no later than the Advance Date, Bank shall reflect on its computer system the Loan Advance (20the “Confirmation”). In the event Borrower disagrees with any terms of the Confirmation, Borrower shall immediately notify Bank of such disagreement. An objection by Borrower must state specifically that it is an objection, must specify the provision(s) years from being objected to by Borrower, must set forth such provision(s) in the date hereof or such longer period of time as may manner that Borrower believes they should be authorized by Florida lawstated, and all indebtedness created must be received by such future advances and readvances shall be secured hereby. All provisions of this Mortgage shall apply to any future advances or readvances made pursuant to Bank no more than one (1) Business Day after the provisions of this Section. Nothing herein contained shall limit the amount secured Confirmation was received by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedBorrower.

Loan Advances. (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank agrees to make one or more Loan Advances made under to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Note shall be Maximum Loan Amount. Within the limit of the Maximum Loan Amount in the form of a continual revolving credit whereby advances may be made, repaid and readvanced effect from time to time. The Mortgagee shall maintain an account on its books (, during the "Revolving Loan Account")Period, which shall evidence Borrower may borrow, repay, and reborrow at all times the amount any time and from time to time outstanding under from the Note. This Mortgage secures the unpaid balances of any advances or readvances made under the Note, this Mortgage, the Agreement or any other Loan Document after this Mortgage has been delivered Effective Date to the appropriate County Officer for recordationearlier of (a) the expiration of the Revolving Loan Period, or (b) the Termination Date. It is also expressly provided for and agreed that this Mortgage secures said future advances and readvancesIf, whether such advances and readvances are obligatory or to be made at the option by virtue of Mortgagee or otherwise, to the same extent as if such future advances and readvances were payments made on the date Note during the Revolving Loan Period, the principal amount owed on the Note prior to the Termination Date reaches zero at any point, Borrower agrees that all of the execution Collateral and all of this Mortgage although there may the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be no advance made at fully entitled to rely on all of the time Collateral and all of execution the Loan Documents unless an appropriate release of this Mortgage all or no indebtedness outstanding at any part of the time Collateral or all or any advance or readvance is madepart of the Loan Documents has been executed by Bank. The total amount of indebtedness that may be secured by this Mortgage may decrease or increase from time to time; provided, however, Borrower acknowledges and agrees that the total unpaid Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount under the Mortgage Warehouse Agreement such that in no event shall the aggregate of the outstanding principal balance secured of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed $150,000,000 at any time shall not exceed Twenty Million Dollars ($20,000,000.00) plus interest thereontime. Upon the expiration of the Revolving Loan Period, and advances made by Mortgagee pursuant to this Mortgage, including without limitation, for the payment of taxes, assessments, insurance premiums, costs for the protection of the Mortgaged Property, reasonable attorneys' fees (at all tribunal levels) and court costs incurred in the collection of any provided that no Default or all of such sums of money and interest thereon. It shall be an Event of Default hereunder if Mortgagor has occurred and is continuing, the Revolving Loans shall, without any further action by Bank or Borrower, convert to a term loan (the “Term Loan”) in accordance with the terms of the Promissory Note. Borrower shall file initiate each Loan Advance by submitting to Bank a notice pursuant to Section 697.04(1)(b)written Advance Request no later than 1:00 p.m., Jacksonville, Florida Statutestime, limiting on the amount Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of indebtedness that may be secured Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Mortgage. All future advances and readvances Agreement, each Loan Advance shall be made within twenty available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Bank. If the conditions to making a Loan Advance as set forth in Section 5 are satisfied, then no later than the Advance Date, Bank shall reflect on its computer system the Loan Advance (20the “Confirmation”). In the event Borrower disagrees with any terms of the Confirmation, Borrower shall immediately notify Bank of such disagreement. An objection by Borrower must state specifically that it is an objection, must specify the provision(s) years from being objected to by Borrower, must set forth such provision(s) in the date hereof or such longer period of time as may manner that Borrower believes they should be authorized by Florida lawstated, and all indebtedness created must be received by such future advances and readvances shall be secured hereby. All provisions of this Mortgage shall apply to any future advances or readvances made pursuant to Bank no more than one (1) Business Day after the provisions of this Section. Nothing herein contained shall limit the amount secured Confirmation was received by this Mortgage if such amount is increased by advances made by Mortgagee as herein elsewhere providedBorrower.