HomeMy WebLinkAbout0737 2.
In order to evidence the indebtedness incurred in connection
with the optional future advance in the amount of $1,782,580.00,
contemporaneously with the execution hereof, Mortgagor has executed
and delivered to Mortqaqee the Advance Note in the original prin-
cipal amount of $1,782,580.00, of even date herewith.
3.
Funds disbursed pursuant to the Advance Note shall be disbursed
pursuant to that certain Loan Agreement by and between Mortgagee and
Mortgagor dated October 27, 1976 ih~einafter denominated the "Loan
Agreement"), as amended by that certain First Modification of Loan
Aqreement by and between Mortgagee and Mortgagor, of even date here-
with, and in accordance with the fifteenth, sixteenth and seven-
teenth paragraphs of the Mortgage, as said sixteenth paragraph is
amended by Article 1 hereinabove.
4.
The Advance Note is secured by the Mortgage to the same extent
as if the Advance Note had•been executed and delivered by Mortgagor
to Mortgagee on the date of the Mortgage.
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Any reference in the Mortgage to "this mortgage and security ~
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. agreement" shall hereafter refer to the Mortgage together with any ~
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and all modifications thereof, and any reference in the Mortgage to
a"Loan Agreement" shall hereafter refer to the Loan Agreement
together with any and all modifications thereof.
6. ~
Mortgagor warrants, represents and certifies to Mortgagee that '
the Note, the Advance Note, the Mortgage as herein aro~ended, and the ~
Loan Agreement as amended, axe valid, binding and enforceable in -
accordance with thei,r respective terms and provisions, and that ;
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there are no clai.ms, defenses or offsets whatsoever to the validity =
and enforceability of the Note, the Advance Note, the Mortgage as
- 3- s~~x 263 P~ " 7~