Common use of CREATION OF MORTGAGE Clause in Contracts

CREATION OF MORTGAGE. For the purpose of securing the payment, when and as due and payable in accordance with the terms thereof and hereof, of the principal of the Mortgage Note and the interest thereon, and also to secure payment of: (a) An additional amount equal to five (5) annuities of interest as provided in the Mortgage Note to cover accrued and unpaid interest on the Mortgage Note; (b) An additional amount equal to TWENTY PERCENT (20%) of the principal sum of the Note to cover any additional sums which may be paid or advanced by the Mortgagee and the interest that may accrue on such payments or advances, and all other indebtedness of the Mortgagor secured by the terms thereof; (c) An additional amount up to, but not greater than five percent (5%) of the principal amount of the Mortgage Note to cover the Mortgagee's actual costs and expenses (including attorneys' fees and expenses) incurred by the Mortgagee in the event the Mortgagee shall have recourse to foreclosure or other judicial proceedings for the collection of the Mortgage Note. (d) All other obligations of the Mortgagor to the Mortgagee herein or under any other agreement secured by the pledge of the Mortgage Note; the Mortgagor, by these presents, DOES HEREBY EXECUTE, CONSTITUTE, AND CREATE in favor of the Mortgagee, or the future owner, holder and/or bearer of the Mortgage Note, a voluntary mortgage lien on the real estate described in paragraph TWENTY SECOND hereof and which mortgage lien shall extend to the following property (hereinafter referred to collectively as the "MORTGAGED PREMISES"):

CREATION OF MORTGAGE. For the purpose of securing the payment, when and as due and payable in accordance with the terms thereof and hereof, of the principal of the Mortgage Note and the interest thereon, and also to secure payment of: (a) An additional amount equal to five (5) annuities of interest as provided in the Mortgage Mortgager Note to cover accrued and unpaid interest on the Mortgage Note; (b) An additional amount equal to TWENTY PERCENT twenty per cent (20%) of the principal sum of the Note to cover any additional sums which may be paid or advanced by the Mortgagee and the interest that may accrue on such payments or advances, and all other indebtedness of the Mortgagor secured by the terms thereof; (c) An additional amount up to, to but not greater than five to exceed ten percent (510%) of the principal amount of the Mortgage Note to cover the Mortgagee's actual costs and expenses (including attorneys' fees and expenses) incurred by the Mortgagee in the event the Mortgagee shall have recourse to foreclosure foreclose or other judicial proceedings for the collection of the Mortgage Note.; and (d) All other obligations of the Mortgagor to the Mortgagee herein or under any other agreement secured by the pledge of the Mortgage Note; the Mortgagor, by these presents, DOES HEREBY EXECUTE, CONSTITUTE, AND CREATE in favor of the Mortgagee, or the future owner, holder and/or bearer either by endorsement or assignment of the Mortgage Note, a voluntary mortgage lien on the real estate described in paragraph TWENTY SECOND hereof Leasehold Estate and which mortgage lien shall extend extend, subject to the provisions of the Ground Lease as hereinafter defined in paragraph TWENTY SECOND, to the following property (hereinafter referred to collectively as the "MORTGAGED PREMISESMortgaged Premises"):

CREATION OF MORTGAGE. For the purpose of securing the payment, when and as due and payable in accordance a) The Debentures together with the terms thereof and hereof, of the principal of the Mortgage Note and the interest thereon, and also Payments to secure payment of: (a) An additional amount equal to five (5) annuities of interest as provided in the Mortgage Note to cover accrued and unpaid interest on the Mortgage Note; (b) An additional amount equal to TWENTY PERCENT (20%) of the principal sum of the Note to cover any additional sums which may be paid or advanced by the Mortgagee and the interest that may accrue on such payments or advances, and all other indebtedness of the Mortgagor made shall be inter-alia secured by the terms thereof;first pari passu charge to be created by the Company in favour of the Debenture Trustee over the Mortgage Properties (“Security”). (cb) An additional amount up to, but not greater than five percent (5%) As security for the redemption and payment of the principal amount of the Mortgage Note Debentures and all other Payments, hereby secured or intended to cover the Mortgagee's actual costs and expenses (including attorneys' fees and expenses) incurred be secured and/or payable by the Mortgagee Company to the Debenture Holder(s) and/or the Debenture Trustee in connection with the Debentures, the Company being the sole, legal and beneficial owner of the Mortgaged Property hereby convey, assure, transfer and grant a charge in favour of the Debenture Trustee for the benefit of the Debenture Holder(s), by way of first ranking mortgage on pari passu basis, on the Immovable Property, TO HAVE AND TO HOLD upon trust subject to the powers and provisions herein contained. c) In addition to what is stated in the event the Mortgagee shall have recourse to foreclosure or other judicial proceedings above clause, as further security for the collection redemption and payment of the principal amount of the Debentures and all other Payments, hereby secured or intended to be hereby secured and/or payable by the Company to the Debenture Holder(s) and/or the Debenture Trustee in connection with the Debentures, the Company being the sole, legal and beneficial owner of the Mortgaged Property hereby grant a charge in favour of the Debenture Trustee for the benefit of the Debenture Holder(s), by way of first ranking mortgage on pari passu basis, on the Movable Property TO HAVE AND TO HOLD upon trust subject to the powers and provisions herein contained. d) The Mortgage created over the Mortgage Properties shall be a first pari passu charge in favour of the Debenture Trustee, acting for and on behalf of the Debenture Holder(s), PROVIDED HOWEVER THAT the Company has not given possession of the Mortgage Note. (d) All other obligations of the Mortgagor Properties to the Mortgagee herein or under any other agreement secured by Debenture Trustee and has also not agreed to give the pledge possession of the Mortgage Note; Properties to the Mortgagor, by Debenture Trustee save and except the provisions contained under these presents, DOES HEREBY EXECUTE, CONSTITUTE, AND CREATE in favor of the Mortgagee, or the future owner, holder and/or bearer of the Mortgage Note, a voluntary mortgage lien on the real estate described in paragraph TWENTY SECOND hereof and which mortgage lien shall extend to the following property (hereinafter referred to collectively as the "MORTGAGED PREMISES"):.