TO THE MORTGAGEE HAS BEEN PAID IN FULL.
9.
GUARANTOR.
GUARANTOR JOINS INTO THIS
AGREEMENT FOR THE PURPOSE OF CONSENTING TO THE TERMS AND CONDITIONS OF THIS
AGREEMENT, THE NOTE AND TO THE MODIFICATIONS TO THE LOAN DOCUMENTS, INCLUDING,
BUT NOT LIMITED TO THE MODIFICATION OF THE GUARANTY MORTGAGE, MADE HEREIN AND TO
ACKNOWLEDGE AND AGREE THAT IT IS LIABLE IN ACCORDANCE WITH THE TERMS AND
CONDITIONS OF THE GUARANTY AGREEMENTS FOR THE REPAYMENT OF THE INDEBTEDNESS
EVIDENCED BY NOTE AND FOR THE PERFORMANCE OF MORTGAGOR'S OBLIGATIONS UNDER THE
TERMS OF THE LOAN DOCUMENTS.
10.
COSTS.
MORTGAGOR SHALL PAY ALL COSTS OF THE
MODIFICATION MADE HEREBY, TO INCLUDE WITHOUT LIMITATION ATTORNEY'S FEES AND
RECORDING FEES, AS WELL AS THE COST OF AN ENDORSEMENT TO MORTGAGEE'S TITLE
INSURANCE POLICY INSURING THE LIEN OF THE MORTGAGE AFTER THE RECORDING OF THIS
AGREEMENT AND INCREASING THE AMOUNT OF TITLE INSURANCE TO INCLUDE, WITHOUT
LIMITATION, THE FUTURE ADVANCE.
SUCH COSTS SHALL BE DUE AT CLOSING HEREUNDER
AND THE PAYMENT THEREOF SHALL BE A CONDITION PRECEDENT TO MORTGAGEE'S DUTIES
HEREUNDER.
IN THE EVENT IT IS DETERMINED THAT ADDITIONAL COSTS RELATING TO THIS
TRANSACTION ARE DUE, MORTGAGOR AGREES TO PAY SUCH COSTS IMMEDIATELY UPON DEMAND.
11.
LIEN.
MORTGAGOR WARRANTS AND REPRESENTS
THAT THE LIENS OF THE LOAN DOCUMENTS ARE VALID LIENS ON THE PROPERTY DESCRIBED
THEREIN, AS MODIFIED HEREBY, AND WITH A PRIORITY AS STATED HEREIN AND AS SET
FORTH IN THE COMMONWEALTH LAND TITLE INSURANCE CORPORATION POLICY
NO. 507-0004153 AND 507-0004154.
IF AT ANY TIME MORTGAGEE SHALL DETERMINE THAT
THE LIEN PRIORITY OF ITS LOAN DOCUMENTS AS STATED THEREIN IS INVALID OR IN
JEOPARDY, OR IF AT ANY TIME MORTGAGEE IS UNABLE TO OBTAIN TITLE INSURANCE
INSURING SUCH LIENS AS VALID LIENS WITH THE PRIORITY STATED THEREIN ON THE
COLLATERAL DESCRIBED THEREIN, THEN MORTGAGEE SHALL HAVE THE OPTION OF DECLARING
THE ENTIRE INDEBTEDNESS SECURED BY THE LOAN DOCUMENTS, TOGETHER WITH ALL ACCRUED
INTEREST TO BE IMMEDIATELY DUE AND PAYABLE IN FULL.
4
12.
RECORDATION.
THE RECORDING OF THIS
AGREEMENT IN THE PUBLIC RECORDS OF RICHLAND COUNTY, SOUTH CAROLINA, SHALL
EVIDENCE THE CLOSING OF THE LOAN TRANSACTION DESCRIBED HEREIN.
13.
ACKNOWLEDGEMENTS.
MORTGAGOR AND GUARANTOR
JOINTLY AND SEVERALLY ACKNOWLEDGE THAT THE LOAN DOCUMENTS ARE IN FULL FORCE AND
EFFECT, AND THAT NO NOTICE LIMITING THE MAXIMUM PRINCIPAL AMOUNT OF THE
INDEBTEDNESS SECURED BY THE MORTGAGE HAS BEEN FILED IN THE PUBLIC RECORDS OF THE
COUNTY IN WHICH THE MORTGAGE IS RECORDED, NOR HAS ANY SUCH NOTICE BEEN EXECUTED
OR DELIVERED, UNLESS MORTGAGOR HAS GIVEN WRITTEN NOTICE OF SUCH EVENT TO
MORTGAGEE IN A SWORN AFFIDAVIT OF EVEN DATE WITH THIS AGREEMENT.
IN THE EVENT
ANY SUCH NOTICE LIMITING THE PRINCIPAL AMOUNT WHICH MAY BE SECURED BY THE
MORTGAGE HAS BEEN RECORDED, EXECUTED OR DELIVERED, THEN THIS AGREEMENT SHALL
ALSO CONSTITUTE A RESCISSION OF SUCH NOTICE, WHICH NOTICE SHALL, UPON THE
EXECUTION AND DELIVERY OF THIS AGREEMENT, BE DEEMED TO BE VOID AND OF NO FURTHER
FORCE OR EFFECT.
14.
MISCELLANEOUS.
A.
PARAGRAPH HEADINGS USED HEREIN ARE