Common use of Maximum Secured Amount Clause in Contracts

Maximum Secured Amount. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARY, THE MAXIMUM AMOUNT OF INDEBTEDNESS SECURED HEREUNDER AT EXECUTION OR WHICH UNDER ANY CONTINGENCY MAY BECOME SECURED HEREBY AT ANY TIME HEREAFTER IS THE PRINCIPAL SUM OF $159,000,000.00 PLUS INTEREST THEREON, PLUS AMOUNTS EXPENDED BY MORTGAGEE AND LENDERS AFTER A DECLARATION OF DEFAULT HEREUNDER TO MAINTAIN THE LIEN OF THIS SECURITY INSTRUMENT OR TO PROTECT THE PROPERTY SECURED BY THIS SECURITY INSTRUMENT, INCLUDING, WITHOUT LIMITATION, AMOUNTS IN RESPECT OF INSURANCE PREMIUMS, REAL ESTATE TAXES, LITIGATION EXPENSES TO PROSECUTE OR DEFEND THE RIGHTS, REMEDIES AND LIEN OF THIS SECURITY INSTRUMENT OR TITLE TO THE PROPERTY SECURED HEREBY, AND ANY COSTS, CHARGES OR AMOUNTS TO WHICH MORTGAGEE OR LENDERS BECOME SUBROGATED UPON PAYMENT, WHETHER UNDER RECOGNIZED PRINCIPLES OF LAW OR EQUITY OR UNDER EXPRESS STATUTORY AUTHORITY, TOGETHER WITH INTEREST ON ALL THE FOREGOING AMOUNTS. ACCORDINGLY, THIS SECURITY INSTRUMENT MAY NOT SECURE CERTAIN ELEMENTS OF THE INDEBTEDNESS OWING OR WHICH MAY BECOME OWING BY MORTGAGOR TO LENDERS, AND THE PARTIES HERETO AGREE THAT ANY PAYMENTS OR REPAYMENTS OF SUCH INDEBTEDNESS BY MORTGAGORS SHALL AND BE DEEMED TO BE APPLIED (WITHOUT PAYMENT OF SPREAD MAINTENANCE PREMIUM) FIRST TO THE PORTION OF THE INDEBTEDNESS THAT IS NOT SECURED HEREBY, IT BEING THE PARTIES’ INTENT THAT THE PORTION OF THE INDEBTEDNESS LAST REMAINING UNPAID SHALL BE SECURED HEREBY.

Maximum Secured Amount. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARYCONTRARY CONTAINED HEREIN, THE MAXIMUM AMOUNT OF PRINCIPAL INDEBTEDNESS OF LOANS SECURED HEREUNDER BY THIS MORTGAGE AT THE TIME OF EXECUTION OR WHICH UNDER ANY CONTINGENCY MAY HEREAFTER BECOME SECURED HEREBY BY THIS MORTGAGE AT ANY TIME HEREAFTER IS $4,688,495.00; PROVIDED, THAT SUCH LIMITATION SHALL NOT LIMIT THE PRINCIPAL SUM OF $159,000,000.00 PLUS INTEREST THEREON, PLUS AMOUNTS EXPENDED BY MORTGAGEE AND LENDERS AFTER A DECLARATION OF DEFAULT HEREUNDER TO MAINTAIN THE LIEN SECURITY OF THIS SECURITY INSTRUMENT MORTGAGE WITH RESPECT TO (A) INTEREST ON THE AFORESAID PRINCIPAL INDEBTEDNESS AT THE RATES SET FORTH IN THE ABL LOAN DOCUMENTS, AND (B) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR TO PROTECT THE PROPERTY SECURED BY THIS SECURITY INSTRUMENT, INCLUDING, WITHOUT LIMITATION, AMOUNTS IN RESPECT OF INSURANCE PREMIUMS, PAID FOR REAL ESTATE TAXES, LITIGATION CHARGES AND ASSESSMENTS THAT MAY BE IMPOSED BY LAW UPON THE MORTGAGED PROPERTY, AND (C) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR PAID FOR INSURANCE PREMIUMS WITH RESPECT TO THE MORTGAGED PROPERTY, AND (D) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF ALL REASONABLE LEGAL COSTS OR EXPENSES TO PROSECUTE OF COLLECTION OF THE DEBT SECURED BY THIS MORTGAGE OR DEFEND OF THE RIGHTS, REMEDIES DEFENSE OR PROSECUTION OF THE RIGHTS AND LIEN OF CREATED BY THIS SECURITY INSTRUMENT OR TITLE TO THE PROPERTY SECURED HEREBYMORTGAGE, AND ANY COSTS, CHARGES (E) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR AMOUNTS PAID TO WHICH MORTGAGEE OR LENDERS BECOME SUBROGATED BECOMES SUBROGATED, UPON PAYMENT, WHETHER UNDER RECOGNIZED PRINCIPLES OF LAW OR EQUITY EQUITY, OR UNDER EXPRESS STATUTORY AUTHORITY, TOGETHER . THE OBLIGATIONS SECURED SHALL BE REDUCED ONLY BY THE LAST AND FINAL SUMS REPAID WITH INTEREST ON ALL RESPECT TO THE FOREGOING AMOUNTS. ACCORDINGLY, THIS SECURITY INSTRUMENT MAY OBLIGATIONS SECURED AND SHALL NOT SECURE CERTAIN ELEMENTS BE REDUCED BY ANY INTERVENING REPAYMENTS OF OBLIGATIONS SECURED SO LONG AS THE AGGREGATE AMOUNT OF THE INDEBTEDNESS OWING OR WHICH MAY BECOME OWING BY MORTGAGOR TO LENDERSOBLIGATIONS SECURED EXCEEDS THE SECURED AMOUNT, AND THE PARTIES HERETO AGREE THAT ANY PAYMENTS OR REPAYMENTS OF SUCH INDEBTEDNESS BY MORTGAGORS THE OBLIGATIONS SECURED SHALL AND NOT BE DEEMED TO BE APPLIED (WITHOUT PAYMENT OF SPREAD MAINTENANCE PREMIUM) FIRST AGAINST, OR TO REDUCE, THE PORTION SECURED AMOUNT. SUCH PAYMENTS SHALL INSTEAD BE DEEMED TO REDUCE ONLY SUCH PORTIONS OF THE INDEBTEDNESS THAT IS NOT OBLIGATIONS SECURED HEREBY, IT BEING THE PARTIES’ INTENT THAT THE PORTION OF THE INDEBTEDNESS LAST REMAINING UNPAID SHALL BE AS ARE UNSECURED OR SECURED HEREBYBY OTHER COLLATERAL.

Maximum Secured Amount. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARYCONTRARY CONTAINED HEREIN, THE MAXIMUM AMOUNT OF PRINCIPAL INDEBTEDNESS SECURED HEREUNDER BY THIS MORTGAGE AT THE TIME OF EXECUTION OR WHICH UNDER ANY CONTINGENCY MAY HEREAFTER BECOME SECURED HEREBY AT ANY TIME HEREAFTER IS TEN MILLION DOLLARS AND 00/100 CENTS ($10,000,000.00); PROVIDED THAT SUCH LIMITATION SHALL NOT LIMIT THE SECURITY OF THIS MORTGAGE WITH RESPECT TO (I) INTEREST ON THE AFORESAID MAXIMUM AMOUNT OF PRINCIPAL SUM OF $159,000,000.00 PLUS INTEREST THEREONINDEBTEDNESS AT THE RATES PROVIDED IN THE CREDIT AGREEMENT, PLUS AMOUNTS EXPENDED BY MORTGAGEE AND LENDERS (II) AFTER A DECLARATION OF DEFAULT HEREUNDER BY MORTGAGOR TO MAINTAIN PAY OR PERFORM SAME, SUMS TO PAY IMPOSITIONS AS PROVIDED FOR HEREIN, (III) AFTER A DEFAULT BY MORTGAGOR TO PAY OR PERFORM SAME, SUMS TO PAY PREMIUMS ON INSURANCE POLICIES COVERING THE MORTGAGED PROPERTY AS PROVIDED FOR HEREIN, (IV) EXPENSES INCURRED IN UPHOLDING OR ENFORCING THE LIEN OF THIS SECURITY INSTRUMENT OR TO PROTECT THE PROPERTY SECURED BY THIS SECURITY INSTRUMENTMORTGAGE, INCLUDING, WITHOUT LIMITATIONBUT NOT LIMITED TO, AMOUNTS IN RESPECT THE EXPENSES OF INSURANCE PREMIUMS, REAL ESTATE TAXES, ANY LITIGATION EXPENSES TO PROSECUTE OR DEFEND THE RIGHTS, REMEDIES RIGHTS AND LIEN OF CREATED BY THIS SECURITY INSTRUMENT MORTGAGE, (V) AFTER DEFAULT BY MORTGAGOR TO PAY OR TITLE PERFORM SAME, EXPENSES INCURRED TO PROTECT THE PROPERTY SECURED HEREBYMORTGAGED PROPERTY, AND (VI) ANY COSTSAMOUNT, CHARGES COSTS OR AMOUNTS CHARGE TO WHICH MORTGAGEE OR LENDERS BECOME SUBROGATED BECOMES SUBROGATED, UPON PAYMENT, WHETHER UNDER RECOGNIZED PRINCIPLES OF LAW OR EQUITY EQUITY, OR UNDER EXPRESS STATUTORY AUTHORITYAUTHORITY AND (VII) ANY OTHER AMOUNT SECURED BY THIS MORTGAGE WHICH IF NOT LIMITED BY SUCH LIMITATION WOULD NOT RENDER THIS MORTGAGE INDEFINITE OR INCREASE THE AMOUNT OF MORTGAGE RECORDING TAXES, TOGETHER IF ANY, PAYABLE WITH INTEREST ON ALL THE FOREGOING AMOUNTSRESPECT TO THIS MORTGAGE. ACCORDINGLYMortgagor will pay all applicable mortgage recording tax incurred in connection with the recordation of this Mortgage; if, THIS SECURITY INSTRUMENT MAY NOT SECURE CERTAIN ELEMENTS OF THE INDEBTEDNESS OWING OR WHICH MAY BECOME OWING BY MORTGAGOR TO LENDERSat the time any Lender is requested to make any Loan under the Credit Agreement, AND THE PARTIES HERETO AGREE THAT ANY PAYMENTS OR REPAYMENTS OF SUCH INDEBTEDNESS BY MORTGAGORS SHALL AND BE DEEMED TO BE APPLIED the then outstanding principal balance of all Loans is less than the above-stated maximum principal amount secured hereby (WITHOUT PAYMENT OF SPREAD MAINTENANCE PREMIUM) FIRST TO THE PORTION OF THE INDEBTEDNESS THAT IS NOT SECURED HEREBYsuch requested Loan, IT BEING THE PARTIES’ INTENT THAT THE PORTION OF THE INDEBTEDNESS LAST REMAINING UNPAID SHALL BE SECURED HEREBYa “Taxable Advance”), Mortgagor shall pay all applicable mortgage recording tax on that portion of the Taxable Advance which equals the difference between such then outstanding principal balance of all Loans prior to the Taxable Advance and the above-stated maximum principal amount secured by this Mortgage. As of the date such Taxable Advance is requested, Mortgagor shall furnish Mortgagee with such documentation and affidavits as Mortgagee shall reasonably request together with an affidavit, substantially in the form of Exhibit 1 attached hereto, signed by a Responsible Officer, stating that all applicable mortgage recording tax due in connection with such Taxable Advance has been paid. Any such Taxable Advance shall thereafter be deemed to be the last amount repaid of the then principal balance of all Loans outstanding.

Maximum Secured Amount. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARYCONTRARY CONTAINED HEREIN, THE MAXIMUM AMOUNT OF PRINCIPAL INDEBTEDNESS OF LOANS SECURED HEREUNDER BY THIS MORTGAGE AT THE TIME OF EXECUTION OR WHICH UNDER ANY CONTINGENCY MAY HEREAFTER BECOME SECURED HEREBY BY THIS MORTGAGE AT ANY TIME HEREAFTER IS $2,757,939; PROVIDED, THAT SUCH LIMITATION SHALL NOT LIMIT THE PRINCIPAL SUM OF $159,000,000.00 PLUS INTEREST THEREON, PLUS AMOUNTS EXPENDED BY MORTGAGEE AND LENDERS AFTER A DECLARATION OF DEFAULT HEREUNDER TO MAINTAIN THE LIEN SECURITY OF THIS SECURITY INSTRUMENT MORTGAGE WITH RESPECT TO (A) INTEREST ON THE AFORESAID PRINCIPAL INDEBTEDNESS AT THE RATES SET FORTH IN THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS, AND (B) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR TO PROTECT THE PROPERTY SECURED BY THIS SECURITY INSTRUMENT, INCLUDING, WITHOUT LIMITATION, AMOUNTS IN RESPECT OF INSURANCE PREMIUMS, PAID FOR REAL ESTATE TAXES, LITIGATION CHARGES AND ASSESSMENTS THAT MAY BE IMPOSED BY LAW UPON THE MORTGAGED PROPERTY, AND (C) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR PAID FOR INSURANCE PREMIUMS WITH RESPECT TO THE MORTGAGED PROPERTY, AND (D) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF ALL REASONABLE LEGAL COSTS OR EXPENSES TO PROSECUTE OF COLLECTION OF THE DEBT SECURED BY THIS MORTGAGE OR DEFEND OF THE RIGHTS, REMEDIES DEFENSE OR PROSECUTION OF THE RIGHTS AND LIEN OF CREATED BY THIS SECURITY INSTRUMENT OR TITLE TO THE PROPERTY SECURED HEREBYMORTGAGE, AND ANY COSTS, CHARGES (E) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR AMOUNTS PAID TO WHICH MORTGAGEE OR LENDERS BECOME SUBROGATED BECOMES SUBROGATED, UPON PAYMENT, WHETHER UNDER RECOGNIZED PRINCIPLES OF LAW OR EQUITY EQUITY, OR UNDER EXPRESS STATUTORY AUTHORITY, TOGETHER . THE OBLIGATIONS SECURED SHALL BE REDUCED ONLY BY THE LAST AND FINAL SUMS REPAID WITH INTEREST ON ALL RESPECT TO THE FOREGOING AMOUNTS. ACCORDINGLY, THIS SECURITY INSTRUMENT MAY LOAN AND SHALL NOT SECURE CERTAIN ELEMENTS BE REDUCED BY ANY INTERVENING REPAYMENTS OF THE INDEBTEDNESS OWING OR WHICH MAY BECOME OWING BY MORTGAGOR TO LENDERSLOAN SO LONG AS THE AGGREGATE AMOUNT OF THE OBLIGATIONS SECURED EXCEEDS THE SECURED AMOUNT, AND THE PARTIES HERETO AGREE THAT ANY PAYMENTS OR REPAYMENTS OF SUCH INDEBTEDNESS BY MORTGAGORS THE OBLIGATIONS SECURED SHALL AND NOT BE DEEMED TO BE APPLIED (WITHOUT PAYMENT OF SPREAD MAINTENANCE PREMIUM) FIRST AGAINST, OR TO REDUCE, THE PORTION SECURED AMOUNT. SUCH PAYMENTS SHALL INSTEAD BE DEEMED TO REDUCE ONLY SUCH PORTIONS OF THE INDEBTEDNESS THAT IS NOT OBLIGATIONS SECURED HEREBY, IT BEING THE PARTIES’ INTENT THAT THE PORTION OF THE INDEBTEDNESS LAST REMAINING UNPAID SHALL BE AS ARE UNSECURED OR SECURED HEREBYBY OTHER COLLATERAL.

Maximum Secured Amount. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARYCONTRARY CONTAINED HEREIN, THE MAXIMUM AMOUNT OF PRINCIPAL INDEBTEDNESS SECURED HEREUNDER BY THIS MORTGAGE AT THE TIME OF EXECUTION OR WHICH UNDER ANY CONTINGENCY MAY HEREAFTER BECOME SECURED HEREBY BY THIS MORTGAGE AT ANY TIME HEREAFTER IS ONE HUNDRED MILLION AND NO/100 DOLLARS ($100,000,000); PROVIDED, THAT, SUCH LIMITATION SHALL NOT LIMIT THE PRINCIPAL SUM OF $159,000,000.00 PLUS INTEREST THEREON, PLUS AMOUNTS EXPENDED BY MORTGAGEE AND LENDERS AFTER A DECLARATION OF DEFAULT HEREUNDER TO MAINTAIN THE LIEN SECURITY OF THIS SECURITY INSTRUMENT MORTGAGE WITH RESPECT TO (A) INTEREST ON THE AFORESAID PRINCIPAL INDEBTEDNESS AT THE RATES SET FORTH IN THE CREDIT AGREEMENT AND THE ACQUISITION NOTES, AND (B) REPAYMENT TO THE MORTGAGEE AFTER THE OCCURRENCE OF A DEFAULT OF SUMS ADVANCED OR TO PROTECT THE PROPERTY SECURED BY THIS SECURITY INSTRUMENT, INCLUDING, WITHOUT LIMITATION, AMOUNTS IN RESPECT OF INSURANCE PREMIUMS, PAID FOR REAL ESTATE TAXES, LITIGATION CHARGES AND ASSESSMENTS THAT MAY BE IMPOSED BY LAW UPON THE MORTGAGED PROPERTY, AND (C) REPAYMENT TO THE MORTGAGEE AFTER THE OCCURRENCE OF A DEFAULT OF SUMS ADVANCED OR PAID FOR INSURANCE PREMIUMS WITH RESPECT TO THE MORTGAGED PROPERTY, AND (D) REPAYMENT TO THE MORTGAGEE AFTER THE OCCURRENCE OF A DEFAULT OF ALL REASONABLE LEGAL COSTS OR EXPENSES TO PROSECUTE OF COLLECTION OF THE INDEBTEDNESS SECURED BY THIS MORTGAGE OR DEFEND OF THE RIGHTS, REMEDIES DEFENSE OR PROSECUTION OF THE RIGHTS AND LIEN OF CREATED BY THIS SECURITY INSTRUMENT OR TITLE MORTGAGE, AND (E) REPAYMENT TO THE PROPERTY SECURED HEREBY, AND ANY COSTS, CHARGES MORTGAGEE OF SUMS ADVANCED OR AMOUNTS PAID TO WHICH THE MORTGAGEE OR LENDERS BECOME SUBROGATED BECOMES SUBROGATED, UPON PAYMENT, WHETHER UNDER RECOGNIZED PRINCIPLES OF LAW OR EQUITY EQUITY, OR UNDER EXPRESS STATUTORY AUTHORITY, TOGETHER WITH INTEREST ON ALL THE FOREGOING AMOUNTS. ACCORDINGLY, THIS SECURITY INSTRUMENT MAY NOT SECURE CERTAIN ELEMENTS OF THE INDEBTEDNESS OWING OR WHICH MAY BECOME OWING BY MORTGAGOR TO LENDERS, AND THE PARTIES HERETO AGREE THAT ANY PAYMENTS OR REPAYMENTS OF SUCH INDEBTEDNESS BY MORTGAGORS SHALL AND BE DEEMED TO BE APPLIED (WITHOUT PAYMENT OF SPREAD MAINTENANCE PREMIUM) FIRST TO THE PORTION OF THE INDEBTEDNESS THAT IS NOT SECURED HEREBY, IT BEING THE PARTIES’ INTENT THAT THE PORTION OF THE INDEBTEDNESS LAST REMAINING UNPAID SHALL BE SECURED HEREBY.

Maximum Secured Amount. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARYCONTRARY CONTAINED HEREIN, THE MAXIMUM AMOUNT OF PRINCIPAL INDEBTEDNESS SECURED HEREUNDER BY THIS MORTGAGE AT THE TIME OF EXECUTION OR WHICH UNDER ANY CONTINGENCY MAY HEREAFTER BECOME SECURED HEREBY BY THIS MORTGAGE AT ANY TIME HEREAFTER IS $1,478,400.00; PROVIDED, THAT SUCH LIMITATION SHALL NOT LIMIT THE PRINCIPAL SUM OF $159,000,000.00 PLUS INTEREST THEREON, PLUS AMOUNTS EXPENDED BY MORTGAGEE AND LENDERS AFTER A DECLARATION OF DEFAULT HEREUNDER TO MAINTAIN THE LIEN SECURITY OF THIS SECURITY INSTRUMENT MORTGAGE WITH RESPECT TO (A) INTEREST ON THE AFORESAID PRINCIPAL INDEBTEDNESS AT THE RATES SET FORTH IN THE NOTE, AND (B) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR TO PROTECT THE PROPERTY SECURED BY THIS SECURITY INSTRUMENT, INCLUDING, WITHOUT LIMITATION, AMOUNTS IN RESPECT OF INSURANCE PREMIUMS, PAID FOR REAL ESTATE TAXES, LITIGATION CHARGES AND ASSESSMENTS THAT MAY BE IMPOSED BY LAW UPON THE MORTGAGED PROPERTY, AND (C) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR PAID FOR INSURANCE PREMIUMS WITH RESPECT TO THE MORTGAGED PROPERTY, AND (D) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF ALL REASONABLE LEGAL COSTS OR EXPENSES TO PROSECUTE OF COLLECTION OF THE DEBT SECURED BY THIS MORTGAGE OR DEFEND OF THE RIGHTS, REMEDIES DEFENSE OR PROSECUTION OF THE RIGHTS AND LIEN OF CREATED BY THIS SECURITY INSTRUMENT OR TITLE TO THE PROPERTY SECURED HEREBYMORTGAGE, AND ANY COSTS, CHARGES (E) REPAYMENT TO MORTGAGEE AFTER DEFAULT OF SUMS ADVANCED OR AMOUNTS PAID TO WHICH MORTGAGEE OR LENDERS BECOME SUBROGATED BECOMES SUBROGATED, UPON PAYMENT, WHETHER UNDER RECOGNIZED PRINCIPLES OF LAW OR EQUITY EQUITY, OR UNDER EXPRESS STATUTORY AUTHORITY, TOGETHER . THE SECURED AMOUNT SHALL BE REDUCED ONLY BY THE LAST AND FINAL SUMS THAT BORROWERS REPAY WITH INTEREST ON ALL RESPECT TO THE FOREGOING AMOUNTS. ACCORDINGLY, THIS SECURITY INSTRUMENT MAY LOAN AND SHALL NOT SECURE CERTAIN ELEMENTS BE REDUCED BY ANY INTERVENING REPAYMENTS OF THE INDEBTEDNESS OWING OR WHICH MAY BECOME OWING LOAN BY MORTGAGOR TO LENDERSBORROWERS. AS OF THE DATE HEREOF, AND THE PARTIES HERETO AGREE TOTAL AMOUNT OF THE LOANS EXCEEDS THE SECURED AMOUNT, SO THAT THE SECURED AMOUNT REPRESENTS ONLY A PORTION OF THE SECURED OBLIGATIONS ACTUALLY OUTSTANDING. SO LONG AS THE AGGREGATE AMOUNT OF THE SECURED OBLIGATIONS EXCEEDS THE SECURED AMOUNT, ANY PAYMENTS OR REPAYMENTS OF SUCH INDEBTEDNESS BY MORTGAGORS THE SECURED OBLIGATIONS SHALL AND NOT BE DEEMED TO BE APPLIED (WITHOUT PAYMENT OF SPREAD MAINTENANCE PREMIUM) FIRST AGAINST, OR TO REDUCE, THE PORTION SECURED AMOUNT. SUCH PAYMENTS SHALL INSTEAD BE DEEMED TO REDUCE ONLY SUCH PORTIONS OF THE INDEBTEDNESS THAT IS NOT SECURED HEREBY, IT BEING THE PARTIES’ INTENT THAT THE PORTION OF THE INDEBTEDNESS LAST REMAINING UNPAID SHALL BE OBLIGATIONS AS ARE UNSECURED OR SECURED HEREBYBY OTHER COLLATERAL.

Maximum Secured Amount. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARYCONTRARY CONTAINED HEREIN, THE MAXIMUM AMOUNT OF PRINCIPAL INDEBTEDNESS SECURED HEREUNDER BY THIS MORTGAGE AT THE TIME OF EXECUTION OR WHICH UNDER ANY CONTINGENCY MAY HEREAFTER BECOME SECURED HEREBY BY THIS MORTGAGE AT ANY TIME HEREAFTER IS $[AMOUNT] MILLION AND NO/100 DOLLARS ($[ ]); PROVIDED, THAT, SUCH LIMITATION SHALL NOT LIMIT THE PRINCIPAL SUM OF $159,000,000.00 PLUS INTEREST THEREON, PLUS AMOUNTS EXPENDED BY MORTGAGEE AND LENDERS AFTER A DECLARATION OF DEFAULT HEREUNDER TO MAINTAIN THE LIEN SECURITY OF THIS SECURITY INSTRUMENT MORTGAGE WITH RESPECT TO (A) INTEREST ON THE AFORESAID PRINCIPAL INDEBTEDNESS AT THE RATES SET FORTH IN THE CREDIT AGREEMENT AND THE ACQUISITION NOTES, AND (B) REPAYMENT TO THE MORTGAGEE AFTER THE OCCURRENCE OF A DEFAULT OF SUMS ADVANCED OR TO PROTECT THE PROPERTY SECURED BY THIS SECURITY INSTRUMENT, INCLUDING, WITHOUT LIMITATION, AMOUNTS IN RESPECT OF INSURANCE PREMIUMS, PAID FOR REAL ESTATE TAXES, LITIGATION CHARGES AND ASSESSMENTS THAT MAY BE IMPOSED BY LAW UPON THE MORTGAGED PROPERTY, AND (C) REPAYMENT TO THE MORTGAGEE AFTER THE OCCURRENCE OF A DEFAULT OF SUMS ADVANCED OR PAID FOR INSURANCE PREMIUMS WITH RESPECT TO THE MORTGAGED PROPERTY, AND (D) REPAYMENT TO THE MORTGAGEE AFTER THE OCCURRENCE OF A DEFAULT OF ALL REASONABLE LEGAL COSTS OR EXPENSES TO PROSECUTE OF COLLECTION OF THE INDEBTEDNESS SECURED BY THIS MORTGAGE OR DEFEND OF THE RIGHTS, REMEDIES DEFENSE OR PROSECUTION OF THE RIGHTS AND LIEN OF CREATED BY THIS SECURITY INSTRUMENT OR TITLE MORTGAGE, AND (E) REPAYMENT TO THE PROPERTY SECURED HEREBY, AND ANY COSTS, CHARGES MORTGAGEE OF SUMS ADVANCED OR AMOUNTS PAID TO WHICH THE MORTGAGEE OR LENDERS BECOME SUBROGATED BECOMES SUBROGATED, UPON PAYMENT, WHETHER 391 UNDER RECOGNIZED PRINCIPLES OF LAW OR EQUITY EQUITY, OR UNDER EXPRESS STATUTORY AUTHORITY. The Mortgagor agrees, TOGETHER WITH INTEREST ON ALL THE FOREGOING AMOUNTS. ACCORDINGLYcovenants, THIS SECURITY INSTRUMENT MAY NOT SECURE CERTAIN ELEMENTS OF THE INDEBTEDNESS OWING OR WHICH MAY BECOME OWING BY MORTGAGOR TO LENDERS, AND THE PARTIES HERETO AGREE THAT ANY PAYMENTS OR REPAYMENTS OF SUCH INDEBTEDNESS BY MORTGAGORS SHALL AND BE DEEMED TO BE APPLIED (WITHOUT PAYMENT OF SPREAD MAINTENANCE PREMIUM) FIRST TO THE PORTION OF THE INDEBTEDNESS THAT IS NOT SECURED HEREBY, IT BEING THE PARTIES’ INTENT THAT THE PORTION OF THE INDEBTEDNESS LAST REMAINING UNPAID SHALL BE SECURED HEREBY.represents and warrants as follows: