GRANTED BY
LENDER PURSUANT HERETO SHALL BE NARROWLY CONSTRUED TO BE APPLICABLE ONLY TO
BORROWER AND THE MATTER IDENTIFIED IN SUCH CONSENT OR APPROVAL AND NO THIRD
PARTY SHALL CLAIM ANY BENEFIT BY REASON THEREOF, AND ANY SUCH CONSENT OR
APPROVAL SHALL NOT BE DEEMED TO CONSTITUTE LENDER A VENTURER OR PARTNER WITH
BORROWER NOR SHALL PRIVITY OF CONTRACT BE PRESUMED TO HAVE BEEN ESTABLISHED WITH
ANY SUCH THIRD PARTY. IF LENDER DEEMS IT TO BE IN ITS BEST INTEREST TO RETAIN
ASSISTANCE OF PERSONS, FIRMS OR CORPORATIONS (INCLUDING ATTORNEYS, TITLE
INSURANCE COMPANIES, APPRAISERS, ENGINEERS AND SURVEYORS) WITH RESPECT TO A
REQUEST FOR CONSENT OR APPROVAL, BORROWER SHALL REIMBURSE LENDER FOR ALL COSTS
REASONABLY INCURRED IN CONNECTION WITH THE EMPLOYMENT OF SUCH PERSONS, FIRMS OR
CORPORATIONS.
24.
LOAN REPAYMENT AND DEFEASANCE. THE LIEN OF THIS MORTGAGE SHALL BE
TERMINATED, RELEASED AND RECONVEYED OF RECORD BY LENDER PRIOR TO THE MATURITY
DATE ONLY IN ACCORDANCE WITH THE TERMS AND PROVISIONS SET FORTH IN THE LOAN
AGREEMENT.
25.
GOVERNING LAW. THIS MORTGAGE SHALL BE GOVERNED BY, AND BE
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE IN WHICH THE PROPERTY IS
LOCATED WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.
26.
EXCULPATION. THE LIABILITY OF BORROWER HEREUNDER IS LIMITED
PURSUANT TO SECTION 10.1 OF THE LOAN AGREEMENT.
PART II - ILLINOIS PROVISIONS
27.
STATE SPECIFIC PROVISIONS. THE FOLLOWING PROVISIONS SHALL ALSO
CONSTITUTE AN INTEGRAL PART OF THIS MORTGAGE. FURTHERMORE, IN THE EVENT THAT ANY
PRIOR PROVISIONS SET FORTH IN PART I OF THIS MORTGAGE CONFLICT WITH THE
FOLLOWING PROVISIONS OF THIS PART II OF THIS MORTGAGE, THE PROVISIONS OF THIS
PART II SHALL CONTROL AND SHALL BE DEEMED A MODIFICATION OF OR AMENDMENT TO THE
SECTION OR PROVISION IN PART I AT ISSUE
(A)
BORROWER REPRESENTS AND WARRANTS TO LENDER THAT THE PROCEEDS OF
THE OBLIGATIONS SECURED HEREBY SHALL BE USED SOLELY FOR BUSINESS PURPOSES AND IN
FURTHERANCE OF THE REGULAR BUSINESS AFFAIRS OF BORROWER, AND THE ENTIRE
PRINCIPAL OBLIGATIONS SECURED BY THIS MORTGAGE CONSTITUTE (I) A "BUSINESS LOAN"
AS THAT TERM IS DEFINED IN, AND FOR ALL PURPOSES OF, 815 ILCS 205/4(1)(C), AND
(II) A "LOAN SECURED BY A MORTGAGE ON REAL ESTATE" WITHIN THE PURVIEW AND
OPERATION OF 815 ILCS 205/4(1)(L).
(B)
AS TO ALL OF THE ABOVE-DESCRIBED PERSONAL PROPERTY WHICH IS OR
HEREAFTER BECOMES A "FIXTURE" UNDER APPLICABLE LAW, THIS MORTGAGE IS INTENDED TO
CONSTITUTE A FIXTURE FILING WITHIN THE PURVIEW OF SECTION 9-402(6) OF THE
ILLINOIS UNIFORM COMMERCIAL CODE, AS AMENDED OR RECODIFIED FROM TIME TO TIME.
13
(C)
THIS MORTGAGE SECURES THE PAYMENT OF THE ENTIRE INDEBTEDNESS
SECURED HEREBY; PROVIDED, HOWEVER, THAT THE TOTAL AMOUNT SECURED BY THIS
MORTGAGE (EXCLUDING INTEREST, COSTS, EXPENSES, CHARGES, FEES, PROTECTIVE
ADVANCES AND INDEMNIFICATION OBLIGATIONS, ALL OF ANY TYPE OR NATURE) SHALL NOT
EXCEED AN AMOUNT EQUAL TO TWO HUNDRED PERCENT (200%) OF THE FACE AMOUNT OF THE
NOTE.
(D)
PURSUANT TO THE TERMS OF THE COLLATERAL PROTECTION ACT, 815 ILCS
180/1 ET SEQ., BORROWER IS HEREBY NOTIFIED THAT UNLESS