Sums Advanced. Borrower and Manager shall be liable to Lender for all sums paid or incurred for the construction of the Required Improvements whether the same shall be paid or incurred pursuant to the provisions of this Section 8.4 or otherwise, and all other payments made or liabilities incurred by Lender under this Agreement of any kind whatsoever, all of which shall be paid by Borrower or Manager to Lender upon demand with interest at the Default Rate to the date of payment to Lender, and all of the foregoing sums, including such interest at the Default Rate, shall be deemed and shall constitute Advances under this Agreement and be evidenced by the Note and secured by the Security Documents.
Appears in 2 contracts
Sources: Building Loan Agreement (Brookdale Living Communities Inc), Building Loan Agreement (Brookdale Living Communities Inc)