Common use of CONDITIONS TO GRANT Clause in Contracts

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for the use and benefit of Lender, and its successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 8 contracts

Samples: Security Agreement and Fixture Filing, Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Security Agreement and Fixture Filing (Moody National REIT II, Inc.)

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CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Lender and to the use and benefit of Lender, Lender and its Trustee for their successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security InstrumentDeed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security InstrumentDeed of Trust, shall well and truly perform the Other Obligations as set forth in this Security Instrument Deed of Trust and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 5 contracts

Samples: Trust and Security Agreement (Behringer Harvard Reit I Inc), Trust and Security Agreement (Behringer Harvard Reit I Inc), Trust and Security Agreement (Behringer Harvard Reit I Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and to the use and benefit of LenderLender and [Trustee, and for their] its successors and assigns, forever; [IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Note, the Loan Agreement, the Note and in this Security Instrument. .] PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement Note and this Security Instrument, shall well and truly perform the Other Obligations (as herein defined) as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein herein, in the Note and in the Note, the Loan Agreement and the other Loan DocumentsAgreement, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 2 contracts

Samples: Security Agreement, And Security Agreement (KBS Real Estate Investment Trust, Inc.)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for the use and benefit of LenderXxxxxx, and its successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that BorrowerXxxxxxxx’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Fidelity National Title Agency (TNP Strategic Retail Trust, Inc.)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and to the use and benefit of Lender, Trustee and its successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt Obligations at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 2 contracts

Samples: Trust and Security Agreement (Glimcher Realty Trust), Trust and Security Agreement (Glimcher Realty Trust)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for Lender and to the use and benefit of Lender, and Lender for its successors and assigns, IN FEE SIMPLE forever; IN TRUST, WITH THE POWER OF SALE, to secure payment to Lender of the Debt Obligations at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents then this Security Instrument shall be cancelled and the estate hereby granted shall cease, terminate and be voidterminated; provided, however, that Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release. Upon payment in full of the Debt in accordance with the Loan Agreement, Lender will execute and deliver a release of the lien of this Security Instrument in customary form.

Appears in 1 contract

Samples: And Security Agreement (Behringer Harvard Reit I Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property Property, with all privileges and appurtenances thereunto belonging unto Trustee for and to the use and benefit of LenderLender and the heirs, and its successors and assignsassigns of Lender, forever; IN TRUSTprovided, WITH POWER OF SALEhowever, with respect to secure payment to Lender the Ground Lease and the Leased Land, such period shall be for and during the rest, residue and remainder of the Debt at the time term of years yet to come and unexpired in the manner provided for its payment in Ground Lease (as the Loan Agreementsame may be renewed or extended); subject nevertheless to the rents, covenants, conditions and provisions of the Note and in this Security Instrument. Ground Lease; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Agreement (Sl Green Realty Corp)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and to the use and benefit of Lender, Trustee and its successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt Obligations at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation Borrxxxx'x xbligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Trust and Security Agreement (Glimcher Realty Trust)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Beneficiary and to the use and benefit of Lender, Beneficiary and its Trustee and their successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: First States (American Assets Trust, Inc.)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Xxxxxx and to the use and benefit of LenderXxxxxx and Trustee, and its for their successors and assigns, assigns forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt outstanding principal amount set forth in, and evidenced by the Loan Agreement and the Note, together with all interest accrued and unpaid thereon, and all other sums due to Lender in respect of or in connection with the Loan under the Note, the Loan Agreement, this Security Instrument and the other Loan Documents, including without limitation any prepayment premium and all sums expended or advanced by the Lender pursuant to any terms or provision in this Security Instrument or any other Loan Document (collectively, the “Debt”) at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations (hereafter defined) as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s Xxxxxxxx's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Glimcher Realty Trust)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Beneficiary and to the use and benefit of Lender, Beneficiary and its Trustee and their successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. , PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Rents and Security Agreement (Behringer Harvard Reit I Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property and TO WARRANT AND DEFEND the title to the Property unto the Trustee and to his or her successors and assigns for the use and benefit of Lender, Lender and its successors and assigns, forever; IN TRUST, TRUST WITH POWER OF SALE, to secure the payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan AgreementNote, the Note Loan Agreement and in this Security Instrument. ; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations (hereafter defined) as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender and Trustee pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Maguire Properties Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee Trustee, as trustee for the use and benefit of Lender, and to its successors in the trust created by this Security Instrument and to its or their respective assigns, forever, in trust, upon the terms and conditions set forth herein; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. , PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Trust and Security Agreement (Glimcher Realty Trust)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Lender and to the use and benefit of Lender, Lender and its Trustee and their successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Note and the Loan Agreement, the Note and in this Security Instrument. ; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower Lender shall be well and truly pay to Lender paid the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, if Borrower shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Brookfield DTLA Fund Office Trust Investor Inc.)

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CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Lender and to the use and benefit of Lender, Lender and its Trustee and their successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Note and the Loan Agreement, the Note and in this Security Instrument. ; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower Lender shall be well and truly pay to Lender paid the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, if Borrower shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Moody National REIT I, Inc.)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Xxxxxx and to the use and benefit of Lender, Lender and its Trustee and their successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: And Security Agreement (Inland Western Retail Real Estate Trust Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property, including but not limited to, Operator's leasehold interest in the Property unto Trustee for and to the use and benefit of Lender, Trustee and its successors and assigns, forever; IN TRUST, WITH POWER OF SALESALE AND RIGHT OF ENTRY AND POSSESSION, to secure payment to Lender of the Debt Obligations at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. ; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower the Borrowers and the Other Borrowers shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that each Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Trust and Security Agreement (Ventas Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property and TO WARRANT AND DEFEND the title to the Property unto the Trustee and to his or her successors and assigns for the use and benefit of Lender, Xxxxxx and its successors and assigns, forever; IN TRUST, TRUST WITH POWER OF SALE, to secure the payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan AgreementNote, the Note Loan Agreement and in this Security Instrument. ; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations (hereafter defined) as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that BorrowerXxxxxxxx’s obligation to indemnify and hold harmless Lender and Trustee pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Maguire Properties Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for Lender and to the use and benefit of Lender, Lender and its successors and assigns, IN FEE SIMPLE forever; IN TRUST, WITH POWER OF SALE, to secure payment to Lender of the Debt Obligations at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents then this Security Instrument shall be cancelled and the estate hereby granted shall cease, terminate and be voidterminated; provided, however, that Borrower’s 's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Security Agreement (Behringer Harvard Reit I Inc)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and to the use and benefit of Agent, for the ratable benefit of Lender, and its successors and assigns, forever, subject to the Permitted Encumbrances; IN TRUST, WITH POWER OF SALE, to secure Borrower’s payment to Lender of the Debt and performance of the Other Obligations at the time and in the manner provided for its payment in the Note, the Loan Agreement, the Note and in this Security Instrument. Instrument and the other Loan Documents; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly (a) pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and Agreement, this Security Instrument, shall well Instrument and truly the other Loan Documents and (b) perform the Other Obligations as set forth in the Loan Agreement, this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Agent and Lender pursuant to the provisions hereof which are expressly stated in the Loan Documents to survive repayment of the Debt shall survive any such payment or release, as expressly provided therein.

Appears in 1 contract

Samples: KBS Strategic Opportunity REIT, Inc.

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the Ground Lease and the renewals therein provided for, and the above granted and described Property unto Trustee Trustee, as trustee for the use and benefit of Lender, and to its successors in trust and assigns, foreverfor and during the rest, residue and remainder of the term of years yet to come and unexpired in the Ground Lease and the renewals therein provided for subject, nevertheless, to the rents, covenants, conditions and provisions of the Ground Lease; IN TRUST, WITH THE POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. ; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Loan Agreement (Entertainment Properties Trust)

CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto Trustee Trustee, as trustee for the use and benefit of Lender, and to its successors in the trust created by this Security Instrument and to its or their respective assigns, forever, in trust, upon the terms and conditions set forth herein; IN TRUST, WITH THE POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. ; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement Note and this Security Instrument, shall well and truly perform the Other Obligations (as defined in Section 2.1 hereof) as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

Appears in 1 contract

Samples: Trust and Security Agreement (Archon Corp)

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