Common use of Principal Secured Clause in Contracts

Principal Secured. This Mortgage secures a loan made by Mortgagee on the date hereof to Mortgagor in the principal amount of Four Hundred Thousand and No/100 Dollars ($400,000.00), plus such additional amounts as Mortgagee may from time to time advance pursuant to the terms and conditions of this Mortgage for the protection of the lien of this Mortgage, together with interest thereon (the “Loan”). Without limiting the scope of the definition of Secured Indebtedness set forth in Section 1.5 hereof, this Mortgage secures accrued and unpaid interest and the unpaid balances of advances made by Mortgagee in accordance with the terms of this Mortgage for the payment of taxes, assessments, maintenance charges and insurance premiums with respect to the Property (as defined below), expenses incurred by Mortgagee for the protection of the Property or the lien of this Mortgage, expenses incurred by Mortgagee by reason of default by Mortgagor.

Principal Secured. This Mortgage secures a loan made by Mortgagee on the date hereof to Mortgagor in the principal amount of Four Three Hundred Thousand and No/100 Dollars ($400,000.00300,000.00), plus such additional amounts as Mortgagee may from time to time advance pursuant to the terms and conditions of this Mortgage for the protection of the lien of this Mortgage, together with interest thereon (the “Loan”). Without limiting the scope of the definition of Secured Indebtedness set forth in Section 1.5 hereof, this Mortgage secures accrued and unpaid interest and the unpaid balances of advances made by Mortgagee in accordance with the terms of this Mortgage for the payment of taxes, assessments, maintenance charges and insurance premiums with respect to the Property (as defined below), expenses incurred by Mortgagee for the protection of the Property or the lien of this Mortgage, expenses incurred by Mortgagee by reason of default by Mortgagor.

Principal Secured. This Mortgage secures a loan made by Mortgagee on the date hereof to Mortgagor in the principal amount of Four Two Hundred Fifty Thousand and No/100 Dollars ($400,000.00250,000.00), plus such additional amounts as Mortgagee may from time to time advance pursuant to the terms and conditions of this Mortgage for the protection of the lien of this Mortgage, together with interest thereon (the “Loan”). Without limiting the scope of the definition of Secured Indebtedness set forth in Section 1.5 hereof, this Mortgage secures accrued and unpaid interest and the unpaid balances of advances made by Mortgagee in accordance with the terms of this Mortgage for the payment of taxes, assessments, maintenance charges and insurance premiums with respect to the Property (as defined below), expenses incurred by Mortgagee for the protection of the Property or the lien of this Mortgage, expenses incurred by Mortgagee by reason of default by Mortgagor.