Note "paid in full"
and will, at Borrower's sole cost and expense, release the lien of this Mortgage
(and Lender agrees to make reasonable efforts to do so within thirty days
following the satisfaction of the conditions herein set forth and Borrower's
written request thereafter to provide such release); provided, however, that
Borrower's obligation to indemnify and hold harmless Lender pursuant to the
provisions hereof shall survive any such payment or release.
ARTICLE 2
DEBT AND OBLIGATIONS SECURED
SECTION 2.1.
DEBT. THIS MORTGAGE AND THE
GRANTS, ASSIGNMENTS AND TRANSFERS MADE IN ARTICLE 1 ARE GIVEN FOR THE PURPOSE OF
SECURING THE FOLLOWING, IN SUCH ORDER OF PRIORITY AS LENDER MAY DETERMINE IN ITS
SOLE DISCRETION (THE "DEBT"):
(A)
THE PAYMENT OF THE INDEBTEDNESS EVIDENCED
BY THE NOTE IN LAWFUL MONEY OF THE UNITED STATES OF AMERICA;
(B)
THE PAYMENT OF INTEREST, PREPAYMENT
PREMIUMS, DEFAULT INTEREST, LATE CHARGES AND OTHER SUMS, AS PROVIDED IN THE
NOTE, THE LOAN AGREEMENT, THIS MORTGAGE AND THE OTHER LOAN DOCUMENTS;
(C)
THE PAYMENT OF ALL OTHER MONEYS AGREED OR
PROVIDED TO BE PAID BY BORROWER IN THE NOTE, THE LOAN AGREEMENT, THIS MORTGAGE
OR THE OTHER LOAN DOCUMENTS;
(D)
THE PAYMENT OF ALL SUMS ADVANCED PURSUANT TO
THIS MORTGAGE TO PROTECT AND PRESERVE THE PROPERTY AND THE LIEN AND THE SECURITY
INTEREST CREATED HEREBY; AND
(E)
THE PAYMENT OF ALL SUMS ADVANCED AND COSTS
AND EXPENSES INCURRED BY LENDER IN CONNECTION WITH THE DEBT OR ANY PART THEREOF,
ANY RENEWAL, EXTENSION, OR CHANGE OF OR SUBSTITUTION FOR THE DEBT OR ANY
PART THEREOF, OR THE ACQUISITION OR PERFECTION OF THE SECURITY THEREFOR, WHETHER
MADE OR INCURRED AT THE REQUEST OF BORROWER OR LENDER.
7
SECTION 2.2.
OTHER OBLIGATIONS. THIS MORTGAGE
AND THE GRANTS, ASSIGNMENTS AND TRANSFERS MADE IN ARTICLE 1 ARE ALSO GIVEN FOR
THE PURPOSE OF SECURING THE FOLLOWING (THE "OTHER OBLIGATIONS"):
(A)
THE PERFORMANCE OF ALL OTHER OBLIGATIONS OF
BORROWER CONTAINED HEREIN;
(B)
THE PERFORMANCE OF EACH OBLIGATION OF
BORROWER CONTAINED IN THE LOAN AGREEMENT AND ANY OTHER LOAN DOCUMENT; AND
(C)
THE PERFORMANCE OF EACH OBLIGATION OF
BORROWER CONTAINED IN ANY RENEWAL, EXTENSION, AMENDMENT, MODIFICATION,
CONSOLIDATION, CHANGE OF, OR SUBSTITUTION OR REPLACEMENT FOR, ALL OR ANY PART OF
THE NOTE, THE LOAN AGREEMENT OR ANY OTHER LOAN DOCUMENT.
SECTION 2.3.
DEBT AND OTHER OBLIGATIONS.
BORROWER'S OBLIGATIONS FOR THE PAYMENT OF THE DEBT AND THE PERFORMANCE OF THE
OTHER OBLIGATIONS SHALL BE REFERRED TO COLLECTIVELY HEREIN AS THE "OBLIGATIONS."
ARTICLE 3
BORROWER COVENANTS
Borrower covenants and agrees that:
SECTION 3.1.
PAYMENT OF DEBT. BORROWER WILL
PAY THE DEBT AT THE TIME AND IN THE MANNER PROVIDED IN THE LOAN AGREEMENT, THE
NOTE AND THIS MORTGAGE.
SECTION 3.2.
INCORPORATION BY REFERENCE. ALL
THE COVENANTS, CONDITIONS AND AGREEMENTS CONTAINED IN (A) THE LOAN AGREEMENT ,
(B) THE NOTE AND (C) ALL AND ANY OF THE OTHER LOAN DOCUMENTS, ARE HEREBY MADE A
PART OF THIS MORTGAGE TO THE SAME EXTENT AND WITH THE SAME FORCE AS IF FULLY SET
FORTH HEREIN.
SECTION 3.3.
INSURANCE.