Use for both the Mortgage and Supplemental (Second) Mortgage under the Freddie Mac High Leverage Loan Program.
(Revision Date 12-15-2005)
Modifications to Guaranty
The following modifications are made to the text of the Guaranty that precedes this Exhibit:
1. The following new Section 21 is hereby added to the Guaranty:
21. High Leverage Loan Program Provisions. Contemporaneously with the Loan, Borrower has entered into a related mortgage loan which is also secured by a lien on the Mortgaged Property (the "Related Mortgage Loan") in favor of Lender, its successors and assigns (the holder of the Related Mortgage Loan, in its capacity as such, is referred to herein as the "Related Lender"). In connection with the Related Mortgage Loan, Guarantor has also entered into a guaranty with the Related Lender (the "Related Guaranty") pursuant to which Guarantor has agreed to absolutely, unconditionally and irrevocably guarantee to the Related Lender the performance of certain obligations for which Borrower is liable under the Related Mortgage Loan. In consideration of the foregoing, and notwithstanding anything in this Guaranty to the contrary, Guarantor hereby acknowledges and agrees as follows:
(a) Guarantor has given its consent to Borrower to enter into both the Loan and the Related Mortgage Loan and Guarantor has agreed to separately guaranty both the Loan and the Related Mortgage Loan;
(b) this Guaranty and the Related Guaranty, respectively, represent separate and legally distinct obligations of Guarantor, which obligations are intended by the parties to be independent in every respect;
(c) a release of Guarantor by the Lender with respect to this Guaranty shall have no effect upon the obligations of Guarantor under the Related Guaranty; and
(d) a release of Guarantor by the Related Lender with respect to the Related Guaranty shall have no effect upon the obligations of Guarantor under this Guaranty.
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