OR
NEUTER FORMS, AND THE SINGULAR FORM OF NOUNS AND PRONOUNS SHALL INCLUDE THE
PLURAL AND VICE VERSA.
SECTION 15.6.
SUBROGATION. IF ANY OR ALL OF THE PROCEEDS OF THE NOTE
HAVE BEEN USED TO EXTINGUISH, EXTEND OR RENEW ANY INDEBTEDNESS HERETOFORE
EXISTING AGAINST THE PROPERTY, THEN, TO THE EXTENT OF THE FUNDS SO USED, LENDER
SHALL BE SUBROGATED TO ALL OF THE RIGHTS, CLAIMS, LIENS, TITLES, AND INTERESTS
EXISTING AGAINST THE PROPERTY HERETOFORE HELD BY, OR IN FAVOR OF, THE HOLDER OF
SUCH INDEBTEDNESS AND SUCH FORMER RIGHTS, CLAIMS, LIENS, TITLES, AND INTERESTS,
IF ANY, ARE NOT WAIVED BUT RATHER ARE CONTINUED IN FULL FORCE AND EFFECT IN
FAVOR OF LENDER AND ARE MERGED WITH THE LIEN AND SECURITY INTEREST CREATED
HEREIN AS CUMULATIVE SECURITY FOR THE REPAYMENT OF THE DEBT, THE PERFORMANCE AND
DISCHARGE OF BORROWER'S OBLIGATIONS HEREUNDER, UNDER THE LOAN AGREEMENT, THE
NOTE AND THE OTHER LOAN DOCUMENTS AND THE PERFORMANCE AND DISCHARGE OF THE OTHER
OBLIGATIONS.
SECTION 15.7.
ENTIRE AGREEMENT. THE NOTE, THE LOAN AGREEMENT, THIS
MORTGAGE AND THE OTHER LOAN DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AND
AGREEMENT BETWEEN BORROWER AND LENDER WITH RESPECT TO THE TRANSACTIONS ARISING
IN CONNECTION WITH THE DEBT AND SUPERSEDE ALL PRIOR WRITTEN OR ORAL
UNDERSTANDINGS AND AGREEMENTS BETWEEN BORROWER AND LENDER WITH RESPECT THERETO.
BORROWER HEREBY ACKNOWLEDGES THAT, EXCEPT AS INCORPORATED IN WRITING IN THE
NOTE, THE LOAN AGREEMENT, THIS MORTGAGE AND THE OTHER LOAN DOCUMENTS, THERE ARE
NOT, AND WERE NOT, AND NO PERSONS ARE OR WERE AUTHORIZED BY LENDER TO MAKE, ANY
REPRESENTATIONS, UNDERSTANDINGS, STIPULATIONS, AGREEMENTS OR PROMISES, ORAL OR
WRITTEN, WITH RESPECT TO THE TRANSACTION WHICH IS THE SUBJECT OF THE NOTE, THE
LOAN AGREEMENT, THIS MORTGAGE AND THE OTHER LOAN DOCUMENTS.
SECTION 15.8.
LIMITATION ON LENDER'S RESPONSIBILITY. NO PROVISION OF
THIS MORTGAGE SHALL OPERATE TO PLACE ANY OBLIGATION OR LIABILITY FOR THE
CONTROL, CARE, MANAGEMENT OR REPAIR OF THE PROPERTY UPON LENDER, NOR SHALL IT
OPERATE TO MAKE LENDER RESPONSIBLE OR LIABLE FOR
30
ANY WASTE COMMITTED ON THE PROPERTY BY THE TENANTS OR ANY OTHER PERSON, OR FOR
ANY DANGEROUS OR DEFECTIVE CONDITION OF THE PROPERTY, OR FOR ANY NEGLIGENCE IN
THE MANAGEMENT, UPKEEP, REPAIR OR CONTROL OF THE PROPERTY RESULTING IN LOSS OR
INJURY OR DEATH TO ANY TENANT, LICENSEE, EMPLOYEE OR STRANGER. NOTHING HEREIN
CONTAINED SHALL BE CONSTRUED AS CONSTITUTING LENDER A "MORTGAGEE IN POSSESSION."
ARTICLE 16
INTENTIONALLY OMITTED
[SIGNATURE PAGE TO FOLLOW]
31
IN WITNESS WHEREOF, THIS MORTGAGE has been executed by Borrower the day and year
first above written.
BORROWER:
MB PITTSBURGH BRIDGESIDE DST, a
Delaware statutory trust
By:
MINTO BUILDERS (FLORIDA), INC., a
Florida corporation, Its Signatory Trustee
By:
/s/ Valerie Medina
Name:
Valerie Medina
Title:
Assistant Secretary
ACKNOWLEDGMENT
STATE OF ILLINOIS
COUNTY OF DUPAGE
On this
day of February, 2006, before me, a Notary Public the undersigned
officer, personally appeared
who
acknowledged himself/herself to be the
of MINTO BUILDERS (FLORIDA), INC., a
Florida corporation, the signatory trustee of MB PITTSBURGH BRIDGESIDE DST, a
Delaware statutory trust and