Common use of Covenants of Title Clause in Contracts

Covenants of Title. The Mortgagor has good and indefeasible title to the Land in fee simple and has good and indefeasible title to the entire Mortgaged Premises and with good right and full power to sell, mortgage and convey the Mortgaged Premises, the Mortgaged Premises are free and clear of liens and encumbrances except Permitted Encumbrances, whether presently existing or which may hereafter be created in accordance with the terms hereof, and Mortgagor will warrant and defend the Mortgaged Premises against all lawful claims and demands whatsoever. The Mortgagee shall have the right, at its option and at such time or times as it, in its sole discretion, shall deem reasonably necessary, to take whatever action it may reasonably deem necessary to defend or uphold the lien of this Mortgage or otherwise enforce any of the rights of Mortgagee hereunder or any obligation secured hereby, including without limitation, the right to institute appropriate legal proceedings for such purposes.

Covenants of Title. The Mortgagor has good and indefeasible title to the Land in fee simple and has good and indefeasible title to the entire Mortgaged Premises and with good right and full power to sell, mortgage and convey the Mortgaged Premises, the Mortgaged Premises are free and clear of liens and encumbrances except Permitted Encumbrances, whether MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF RENTS presently existing or which may hereafter be created in accordance with the terms hereof, and Mortgagor will warrant and defend the Mortgaged Premises against all lawful claims and demands whatsoever. The Mortgagee shall have the right, at its option and at such time or times as it, in its sole discretion, shall deem reasonably necessary, to take whatever action it may reasonably deem necessary to defend or uphold the lien of this Mortgage or otherwise enforce any of the rights of Mortgagee hereunder or any obligation secured hereby, including without limitation, the right to institute appropriate legal proceedings for such purposes.