Common use of Maximum Principal Amount Secured Clause in Contracts

Maximum Principal Amount Secured. Notwithstanding anything to the contrary contained in this Mortgage, the maximum aggregate principal amount of indebtedness that is, or under any contingency may be, secured by this Mortgage (including Mortgagor's obligation to reimburse advances made by Collateral Agent), either at execution or at any time thereafter, is $2,670,000.00, plus interest thereon and any amounts that Collateral Agent expends upon and following the occurrence of any Event of Default to the extent that any such amounts shall constitute payment of (i) taxes and assessments that may be imposed by law upon any of the Property; (ii) premiums on insurance policies covering any Property; (iii) expenses incurred in upholding the lien of this Mortgage, including the expenses of any litigation to prosecute or defend the rights and lien created by this Mortgage; or (iv) any amount, cost or change to which Collateral Agent becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then, and in each such event, such amounts or costs shall be added to the indebtedness secured hereby and shall be secured by this Mortgage.

Maximum Principal Amount Secured. Notwithstanding anything to the contrary contained in this Mortgage, the maximum aggregate principal amount of indebtedness that is, or under any contingency may be, secured by this Mortgage (including Mortgagor's obligation to reimburse advances made by Collateral Agent), either at execution or at any time thereafter, is $2,670,000.001,210,320, plus interest thereon and any amounts that Collateral Agent expends upon and following the occurrence of any Event of Default to the extent that any such amounts shall constitute payment of (i) taxes and assessments that may be imposed by law upon any of the Property; (ii) premiums on insurance policies covering any Property; (iii) expenses incurred in upholding the lien of this Mortgage, including the expenses of any litigation to prosecute or defend the rights and lien created by this Mortgage; or (iv) any amount, cost or change to which Collateral Agent becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then, and in each such event, such amounts or costs shall be added to the indebtedness secured hereby and shall be secured by this Mortgage.

Maximum Principal Amount Secured. Notwithstanding anything to the contrary contained in this Mortgage, the maximum aggregate principal amount of indebtedness Indebtedness that is, or under any contingency may be, secured by this Mortgage (including Mortgagor's obligation to reimburse advances made by Collateral Agent)Mortgage, either at execution of this Mortgage or at any time thereafterthereafter (the “Secured Amount”), is $2,670,000.006,831,464.00, plus interest thereon and any amounts that Collateral Agent Mortgagee expends upon and following the occurrence of any Event of Default to the extent that any such amounts shall constitute payment of (i) taxes and assessments that may be imposed by law upon any of the PropertyPremises; (ii) premiums on insurance policies covering any Propertythe Premises; (iii) expenses incurred in upholding the lien of this Mortgage, including the expenses of any litigation to prosecute or defend the rights and lien created by this Mortgage; or (iv) any amount, cost or change to which Collateral Agent Mortgagee becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then, and in each such event, such amounts or costs costs, together with interest thereon at the Default Rate, shall be added to the indebtedness secured hereby and shall be secured by this Mortgage.