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<br />hereby incorporated by reference, and, together with this Mortgage, as any of the same may be
<br />amended, modified, supplemented, extended, renewed, replaced or restated, are sometimes
<br />collectively referred to as the “Abatement Documents”.
<br />WHEREAS, the obligations secured by this Mortgage (the “Obligations”) are as follows:
<br />(i) the principal amount of $1,288,589.00 of the Purchase Price Note; plus
<br />(ii) all other amounts advanced by City in protection of the Mortgaged
<br />Property or this Mortgage.
<br />WHEREAS, the Obligations shall mature on or before February 1, 2037 (the “Maturity
<br />Date”).
<br />WHEREAS, the maximum principal indebtedness secured hereby is $1,288,589.00 plus
<br />amounts which may be advanced by City in protection of the Mortgaged Property or this
<br />Mortgage.
<br />NOW, THEREFORE, Developer, in consideration of City making the Loan, and to
<br />secure the Loan and payment and performance of the Obligations, hereby grants, bargains, sells,
<br />conveys and mortgages to City, its successors and assigns, forever, with power of sale, and
<br />grants to City, its successors and assigns, a security interest in, the following, all of which is
<br />called the “Mortgaged Property”:
<br />A.LAND AND IMPROVEMENTS
<br />
<br />The Land and all improvements and structures thereon (the “Improvements”); and
<br />B.FIXTURES AND PERSONAL PROPERTY
<br />
<br />All fixtures (the “Fixtures”), and all machinery, equipment and personal property
<br />(collectively the “Personal Property”) now or hereafter located on, in or under the Land and the
<br />Improvements, or usable in connection with the Land or the Improvements, and which are owned
<br />by Developer or in which Developer has an interest, including any construction and building
<br />materials stored on and to be included in the Improvements, plus any repairs, replacements and
<br />betterments to any of the foregoing and the proceeds and products thereof; and
<br />C. LEASES AND RENTS
<br />All rights of Developer with respect to tenants or occupants now or hereafter occupying
<br />any part of the Land or the Improvements, if any, including all leases and licenses and rights in
<br />connection therewith, whether oral or written (collectively the “Leases”), and all rents, income,
<br />both from services and occupation, royalties, revenues and payments, including prepayments and
<br />security deposits (collectively the “Rents”), which are now or hereafter due or to be paid in
<br />connection with the Land, the Improvements, the Fixtures or the Personal Property; and
<br />C-2
<br />455958v10 SJS EL185-31
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