Common use of Agreement to mortgage Clause in Contracts

Agreement to mortgage. To the extent that the Security Documents include an interest in Land, each Obligor who is party to such Security Documents irrevocably agrees: (a) as security for its obligations to the Lender under the Loan Agreement, to grant a mortgage over the Land; and (b) to execute and deliver a memorandum of mortgage over the Land promptly on demand in writing from the Lender at any time during the term of the Loan Agreement.