Cross-Collateralization. Mortgagor acknowledges that the Obligations are secured by this Security Instrument together with those additional security instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the other Secured Note Documents securing or evidencing the Obligations, and encumbering the Collateral and other real and personal property, all as more specifically set forth in the Credit Agreement and the other Secured Note Documents. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all or any portion of the Obligations, and the lien and the security interest created by such other security instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations and the performance of any term, covenant or condition of the Guaranty, this Security Instrument or the other Secured Note Documents and exercise any and all rights and remedies under the Guaranty, this Security Instrument or the other Secured Note Documents, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral or any other real or personal property securing the Obligations is located. Neither the acceptance of this Security Instrument or the other Secured Note Documents nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument or any of the other Secured Note Documents through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the Guaranty, this Security Instrument and the other Secured Note Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender shall determine, in its sole discretion.
Appears in 4 contracts
Samples: Guaranty and Security Agreement (General Motors Co), Guaranty and Security Agreement (General Motors Co), Guaranty and Security Agreement (General Motors Co)
Cross-Collateralization. Mortgagor acknowledges that the Obligations are secured by this Security Instrument together with those additional security instruments certain other Mortgages (as defined in the Credit Agreement) now or hereafter given by Mortgagor and/or certain Affiliates Borrower (or any one or more of Mortgagor them) to LenderMortgagee (whether one or more, together with collectively, the other Secured Note Documents securing or evidencing the Obligations, and “Other Mortgages”) encumbering the Collateral real and other personal property more particularly described in the Other Mortgages (such real and personal property, collectively, the “Other Properties”), all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsAgreement. Upon the occurrence of an Event of Default, Lender Mortgagee shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Other Mortgages whether by court action, power of sale or otherwise, under any applicable provision of lawLaws, for all or any portion of the Obligations, Obligations and the lien Lien and the security interest created by such other security instruments the Other Mortgages shall continue in full force and effect without loss of priority as a lien Lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Other Properties are located in one or more States and states and/or counties, and therefore Lender Mortgagee shall be permitted to, or as the case may be, to direct certain named trustees to, enforce payment and performance of the Obligations and the performance of any term, covenant or condition of the GuarantyNotes, this Security Instrument Instrument, the Other Mortgages or the other Secured Note Loan Documents and exercise any and all rights and remedies under the GuarantyNotes, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsOther Mortgages or, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderMortgagee, in its sole discretion, in any one or more of the States states or counties in which the Property, the Collateral Property or any other real or personal property securing of the Obligations is Other Properties are located. Neither the acceptance of this Security Instrument Instrument, the Other Mortgages or the other Secured Note Loan Documents nor the enforcement thereof in any one State state or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the NoteNotes, this Security Instrument Instrument, the Other Mortgages or any of the other Secured Note Loan Documents through one or more additional proceedings in that State state or county or in any other State state or county. Any and all sums received by Mortgagee or any Lender under the GuarantyNotes, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender Mortgagee shall determine, in its sole discretion, without regard to any portion of the Loan allocated to any Property or any of the Other Properties or the appraised value of the Property or any of the Other Properties.
Appears in 2 contracts
Samples: Security Agreement and Fixture Filing (FelCor Lodging Trust Inc), Security Agreement and Fixture Filing (FelCor Lodging Trust Inc)
Cross-Collateralization. Mortgagor acknowledges that the Obligations are secured by this Security Instrument Mortgage together with those additional security instruments certain other mortgages, deeds of trust or deeds to secure debt given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the other Secured Note Documents securing Borrowers, as applicable, to or evidencing for the Obligationsbenefit of Mortgagee (whether one or more, and collectively, the "Other Security Instruments") encumbering the Collateral real and other personal property more particularly described in the Other Security Instruments (such real and personal property, collectively, the "Other Properties"), all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsAgreement. Upon the occurrence of occurrence, and during the continuance of, an Event of Default, Lender Mortgagee shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument Mortgage and any or all of such other security instruments the Other Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all or any portion of the Obligations, Obligations and the lien and the security interest created by such other security instruments the Other Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Mortgaged Property and the other real and personal property securing the Obligations Other Properties are located in one or more States and states and/or counties, and therefore Lender Mortgagee shall be permitted to enforce payment of the Obligations and the performance of any term, covenant or condition of the GuarantyCredit Agreement, the Note, this Security Instrument Mortgage, the Loan Documents or the other Secured Note Documents Other Security Instruments and exercise any and all rights and remedies under the GuarantyCredit Agreement, the Note, this Security Instrument Mortgage, the other Loan Documents or the other Secured Note DocumentsOther Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderMortgagee, in its sole discretion, in any one or more of the States states or counties in which the Property, the Collateral Mortgaged Property or any other real or personal property securing of the Obligations is Other Properties are located. Neither the acceptance of this Security Instrument Mortgage, the other Loan Documents or the other Secured Note Documents Other Security Instruments nor the enforcement thereof in any one State state or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Credit Agreement, the Note, this Security Instrument Mortgage, the other Loan Documents, or any of the other Secured Note Documents Other Security Instruments through one or more additional proceedings in that State state or county or in any other State state or county. Any and all sums received by Mortgagee or any Lender under the GuarantyCredit Agreement, the Note, this Security Instrument Mortgage and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender Mortgagee shall determine, in its sole discretion, without regard to any portion of the Loans allocated to any Mortgaged Property or any of the Other Properties or the appraised value of the Mortgaged Property or any of the Other Properties.
Appears in 2 contracts
Samples: Credit Agreement (MVP REIT II, Inc.), Credit Agreement (MVP REIT, Inc.)
Cross-Collateralization. Mortgagor Assignor acknowledges that the Obligations are secured by this Security Instrument Assignment together with those additional security instruments certain other assignments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the other Secured Note Documents securing Borrowers, as applicable, to Assignee (whether one or evidencing more, collectively, the Obligations, and "Other Security Instruments") encumbering the Collateral real and other personal property more particularly described in the Other Security Instruments (such real and personal property, collectively, the "Other Properties"), all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsAgreement. Upon the occurrence and continuance of an Event of Default, Lender Assignee shall have the right to institute a proceeding or proceedings for the total or partial foreclosure enforcement of remedies available to Assignee under the terms of this Security Instrument Assignment and any or all of such other security instruments the Other Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all or any portion of the Obligations, Obligations and the lien and the security interest created by such other security instruments the Other Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor Assignor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Other Properties are located in one or more States and states and/or counties, and therefore Lender Assignee shall be permitted to enforce payment of the Obligations and the performance of any term, covenant or condition of the GuarantyCredit Agreement, the Notes, this Security Instrument Assignment, the Loan Documents or the other Secured Note Documents Other Security Instruments and exercise any and all rights and remedies under the GuarantyCredit Agreement, the Notes, this Security Instrument Assignment, the other Loan Documents or the other Secured Note DocumentsOther Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderAssignee, in its sole discretion, in any one or more of the States states or counties in which the Property, the Collateral Property or any other real or personal property securing of the Obligations is Other Properties are located. Neither the acceptance of this Security Instrument Assignment, the other Loan Documents or the other Secured Note Documents Other Security Instruments nor the enforcement thereof in any one State state or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale sale, or otherwise, of the NoteCredit Agreement, the Notes, this Security Instrument Assignment, the other Loan Documents, or any of the other Secured Note Documents Other Security Instruments through one or more additional proceedings in that State state or county or in any other State state or county. Any and all sums received by Assignee or any Lender under the GuarantyCredit Agreement, the Notes, this Security Instrument Assignment and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender Assignee shall determine, in its sole discretion, without regard to any portion of the Loans allocated to any Property or any of the Other Properties or the appraised value of the Property or any of the Other Properties.
Appears in 2 contracts
Samples: Credit Agreement (MVP REIT II, Inc.), Credit Agreement (MVP REIT, Inc.)
Cross-Collateralization. Section 14.1 Mortgagor acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments mortgages, deeds of trust or deeds to secure debt (the “Additional Security Instruments”) given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the Mortgagee and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyproperties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsAgreement. Upon the occurrence and during the continuance of an Event of Default, Lender Mortgagee shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Additional Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property in this Security Instrument, and the lien and the security interest created by such other security instruments the Additional Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations properties are located in one or more States States, Commonwealths and counties, and therefore Lender Mortgagee shall be permitted upon the occurrence and during the continuance of an Event of Default to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the Guaranty, this Security Instrument or the other Secured Note Documents Additional Security Instruments and exercise any and all rights and remedies under the Guaranty, this Security Instrument Instrument, the other Loan Documents, or the other Secured Note Documents, Additional Security Instruments or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderMortgagee, in its sole discretion, in any one or more of the States States, Commonwealths or counties in which the Property, the Collateral Property or any of the other real or personal property securing the Obligations properties is located. Neither the acceptance of this Security Instrument or Instrument, the other Secured Note Loan Documents nor the enforcement thereof in any one State State, Commonwealth or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Additional Security Instruments through one or more additional proceedings in that State State, Commonwealth or county or in any other State State, Commonwealth or county. Any To the extent permitted by applicable law, Mortgagor hereby waives the benefit of all appraisement, valuation, stay, extension, reinstatement and redemption laws now or hereafter in force and all sums received rights of marshalling in the event of any sale of: (i) the Property hereunder, (ii) other property secured by Lender the Additional Security Instruments, or (iii) any part of or any interest in the property set forth in clauses (i) and (ii). Further, Mortgagor hereby expressly waives any and all rights of redemption from sale under any order or decree of foreclosure of this Security Instrument on behalf of Mortgagor, and on behalf of each and every Person acquiring any interest in or title to the Guaranty, Property subsequent to the date of this Security Instrument and the other Secured Note Documents on account behalf of the Obligations shall be applied all persons to the Obligations in such order and priority as Lender shall determine, in its sole discretionextent permitted by applicable law.
Appears in 2 contracts
Samples: Credit Agreement (Cig Wireless Corp.), Credit Agreement (Cig Wireless Corp.)
Cross-Collateralization. Mortgagor Section 14.1 Trustor acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments mortgages, deeds of trust or deeds to secure debt (the “Additional Security Instruments”) given by Mortgagor and/or certain Affiliates of Mortgagor Trustor to Lender, together with the Beneficiary and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyproperties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsAgreement. Upon the occurrence and during the continuance of an Event of Default, Lender Beneficiary shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Additional Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property in this Security Instrument, and the lien and the security interest created by such other security instruments the Additional Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor Trustor acknowledges and agrees that the Property and the other real and personal property securing the Obligations properties are located in one or more States States, Commonwealths and counties, and therefore Lender Beneficiary shall be permitted upon the occurrence and during the continuance of an Event of Default to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the Guaranty, this Security Instrument or the other Secured Note Documents Additional Security Instruments and exercise any and all rights and remedies under the Guaranty, this Security Instrument Instrument, the other Loan Documents, or the other Secured Note Documents, Additional Security Instruments or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderBeneficiary, in its sole discretion, in any one or more of the States States, Commonwealths or counties in which the Property, the Collateral Property or any of the other real or personal property securing the Obligations properties is located. Neither the acceptance of this Security Instrument or Instrument, the other Secured Note Loan Documents nor the enforcement thereof in any one State State, Commonwealth or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Additional Security Instruments through one or more additional proceedings in that State State, Commonwealth or county or in any other State State, Commonwealth or county. Any To the extent permitted by applicable law, Trustor hereby waives the benefit of all appraisement, valuation, stay, extension, reinstatement and redemption laws now or hereafter in force and all sums received rights of marshalling in the event of any sale of: (i) the Property hereunder, (ii) other property secured by Lender the Additional Security Instruments, or (iii) any part of or any interest in the property set forth in clauses (i) and (ii). Further, Trustor hereby expressly waives any and all rights of redemption from sale under any order or decree of foreclosure of this Security Instrument on behalf of Trustor, and on behalf of each and every Person acquiring any interest in or title to the Guaranty, Property subsequent to the date of this Security Instrument and the other Secured Note Documents on account behalf of the Obligations shall be applied all persons to the Obligations in such order and priority as Lender shall determine, in its sole discretionextent permitted by applicable law.
Appears in 2 contracts
Samples: Credit Agreement (Cig Wireless Corp.), Credit Agreement (Cig Wireless Corp.)
Cross-Collateralization. Mortgagor Grantor acknowledges that the Obligations are secured by this Security Instrument together with those additional security instruments certain other Mortgages (as defined in the Loan Agreement) now or hereafter given by Mortgagor and/or Grantor to Grantee or to certain Affiliates trustees in trust and for the benefit of Mortgagor to LenderGrantee (whether one or more, together with collectively, the other Secured Note Documents securing or evidencing the Obligations, and “Other Mortgages”) encumbering the Collateral real and other personal property more particularly described in the Other Mortgages (such real and personal property, collectively, the “Other Properties”), all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence of an Event of Default, Lender Grantee shall have the right to institute or direct Trustee to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Other Mortgages whether by court action, power of sale or otherwise, under any applicable provision of lawLaws, for all or any portion of the Obligations, Obligations and the lien Lien and the security interest created by such other security instruments the Other Mortgages shall continue in full force and effect without loss of priority as a lien Lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor Grantor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Other Properties are located in one or more States and states and/or counties, and therefore Lender Grantee shall be permitted to, or as the case may be, to direct certain named trustees to, enforce payment and performance of the Obligations and the performance of any term, covenant or condition of the GuarantyNotes, this Security Instrument Instrument, the Other Mortgages or the other Secured Note Loan Documents and exercise any and all rights and remedies under the GuarantyNotes, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsOther Mortgages or, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderGrantee, in its sole discretion, in any one or more of the States states or counties in which the Property, the Collateral Property or any other real or personal property securing of the Obligations is Other Properties are located. Neither the acceptance of this Security Instrument Instrument, the Other Mortgages or the other Secured Note Loan Documents nor the enforcement thereof in any one State state or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the NoteNotes, this Security Instrument Instrument, the Other Mortgages or any of the other Secured Note Loan Documents through one or more additional proceedings in that State state or county or in any other State state or county. Any and all sums received by Grantee or any Lender under the GuarantyNotes, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender Grantee shall determine, in its sole discretion, without regard to any portion of the Loan allocated to any Property or any of the Other Properties or the appraised value of the Property or any of the Other Properties.
Appears in 1 contract
Samples: Security Agreement and Fixture Filing (FelCor Lodging Trust Inc)
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument by, among other things, the Other Mortgages (together with those additional security instruments given by Mortgagor and/or certain Affiliates their respective assignments of Mortgagor to Lender, together with the leases and rents and other Secured Note Documents documents securing or evidencing the ObligationsDebt, the "Additional Security Instruments") encumbering two properties located in North Carolina and encumbering Florida (the Collateral and other real and personal property"Additional Property"), all as more specifically set forth in and, collectively with the Credit Agreement and the other Secured Note DocumentsProperty, "Mortgaged Properties"). Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments and/or the Additional Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all or any portion of the Obligations, Debt and the lien and the security interest created by such other security instruments and the Additional Security Instrument shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstandingoutstanding following any such foreclosure. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Other Security Documents or the other Secured Note Documents Additional Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the Other Security Documents or the other Secured Note DocumentsAdditional Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, Lender in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral or any other real or personal property securing the Obligations is located. Neither the acceptance of this Security Instrument Instrument, the Other Security Documents or the other Secured Note Documents Additional Security Instruments nor the enforcement thereof in any one State or countythereof, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Other Security Documents, or any Additional Security Instrument or any of the other Secured Note Documents through one or more additional proceedings in that State or county or in any other State or countyproceedings. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Other Security Documents on account of the Obligations shall be applied to the Obligations Debt in such the order and priority as Lender shall determine, set forth in its sole discretionSection 11.1(j) hereof without regard to the initial principal balance of any Note secured by any Additional Security Instrument or the appraised value of the Property or any Additional Property.
Appears in 1 contract
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional mortgages, deeds of trust or similar security instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lenderinstruments, as the case may be (together with the their respective assignments of leases and rents and other Secured Note Documents documents securing or evidencing the ObligationsDebt, the "Additional Security Instruments") and encumbering the Collateral and other real and personal propertyproperties referenced therein (the "Additional Properties"; together with the Property, all as more specifically set forth in collectively, the Credit Agreement and the other Secured Note Documents"Properties"). Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Additional Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt, or any the portion of the Obligations, Debt and the lien and the security interest created by such other security instruments the Additional Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations Additional Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Other Security Documents or the other Secured Note Documents Additional Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the Other Security Documents or the other Secured Note DocumentsAdditional Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Additional Property is located. Neither the acceptance of this Security Instrument Instrument, the Note, the Other Security Documents or the other Secured Note Documents Additional Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the Other Security Documents, or any of the other Secured Note Documents Additional Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, the Other Security Documents and the other Secured Note Documents on account of the Obligations Additional Security Instruments shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion, without regard to the Allocated Loan Amount (as defined in that certain Loan Agreement dated the date hereof) for the Property or any Additional Property or the appraised value of the Property or any Additional Property.
Appears in 1 contract
Cross-Collateralization. Mortgagor acknowledges Section 17.1 Cross-Collateralization. Mortgagors acknowledge that the Obligations are secured by this Security Instrument together with those additional security instruments mortgages, deeds of trust and deeds to secure debt (collectively, the “Other Security Instruments”) given by Mortgagor the other Borrowers and/or certain Affiliates of Mortgagor Mortgagors to LenderMortgagee, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the Obligations, and encumbering the other Collateral and other real and personal propertyProperties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence and during the continuance of an Event of Default, Lender Mortgagee shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Other Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of lawLaw, for all of the Obligations or any the portion of the ObligationsObligations allocated to the Property in the Loan Agreement, and the lien and the security interest created by such other security instruments the Other Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor acknowledges Mortgagors acknowledge and agrees agree that the Property and the other real and personal property securing the Obligations Collateral Properties are located in one or more States and counties, and therefore Lender Mortgagee shall be permitted to enforce payment of the Obligations and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Other Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsOther Security Instruments, or as provided by law Law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderMortgagee, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Collateral Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Other Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Other Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender Mortgagee under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender Mortgagee shall determine, in its sole discretion, without regard to the Allocated Loan Amount for the Property or any other Collateral Property or the appraised value of the Property or any other Collateral Property.
Appears in 1 contract
Samples: Fixture Filing and Security Agreement (FelCor Lodging Trust Inc)
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument by, among other things, the Other Mortgages (together with those additional security instruments given by Mortgagor and/or certain Affiliates their respective assignments of Mortgagor to Lender, together with the leases and rents and other Secured Note Documents documents securing or evidencing the ObligationsDebt, the "Additional Security Instruments") encumbering two properties located in Idaho and encumbering Florida (the Collateral and other real and personal property"Additional Property"), all as more specifically set forth in and, collectively with the Credit Agreement and the other Secured Note DocumentsProperty, "Mortgaged Properties"). Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments and/or the Additional Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all or any portion of the Obligations, Debt and the lien and the security interest created by such other security instruments and the Additional Security Instrument shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstandingoutstanding following any such foreclosure. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Other Security Documents or the other Secured Note Documents Additional Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the Other Security Documents or the other Secured Note DocumentsAdditional Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, Lender in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral or any other real or personal property securing the Obligations is located. Neither the acceptance of this Security Instrument Instrument, the Other Security Documents or the other Secured Note Documents Additional Security Instruments nor the enforcement thereof in any one State or countythereof, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Other Security Documents, or any Additional Security Instrument or any of the other Secured Note Documents through one or more additional proceedings in that State or county or in any other State or countyproceedings. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Other Security Documents on account of the Obligations shall be applied to the Obligations Debt in such the order and priority as Lender shall determine, set forth in its sole discretion.Section 11.1(j) hereof without regard to the initial principal balance of any Note secured by any Additional Security Instrument or the appraised value of the Property or any Additional Property. 52 107
Appears in 1 contract
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments Security Instruments given by Mortgagor Borrower and/or certain Affiliates of Mortgagor Borrower to Lender, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyIndividual Properties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such the other security instruments Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property, and the lien and the security interest created by such the other security instruments Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations Individual Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsSecurity Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Individual Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion, without regard to the Allocated Loan Amount for the Property or any other Individual Property or the appraised value of the Property or any Individual Property.
Appears in 1 contract
Samples: Filing and Security Agreement (Manufactured Housing Properties Inc.)
Cross-Collateralization. Mortgagor acknowledges that the Obligations are secured by this Security Instrument together with those additional security instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the other Secured Note Loan Documents securing or evidencing the Obligations, and encumbering the Collateral and other real and personal property, all as more specifically set forth in the Credit Agreement and the other Secured Note Loan Documents. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all or any portion of the Obligations, and the lien and the security interest created by such other security instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations and the performance of any term, covenant or condition of the Guaranty, this Security Instrument or the other Secured Note Loan Documents and exercise any and all rights and remedies under the Guaranty, this Security Instrument or the other Secured Note Loan Documents, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral or any other real or personal property securing the Obligations is located. Neither the acceptance of this Security Instrument or the other Secured Note Loan Documents nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the NoteNotes, this Security Instrument or any of the other Secured Note Loan Documents through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the Guaranty, this Security Instrument and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender shall determine, in its sole discretion.. 188
Appears in 1 contract
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments Security Instruments given by Mortgagor Borrower and/or certain Affiliates of Mortgagor Borrower to Lender, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyIndividual Properties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such the other security instruments Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property in the Loan Agreement, and the lien and the security interest created by such the other security instruments Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations Individual Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsSecurity Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Individual Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion, without regard to the Allocated Loan Amount for the Property or any other Individual Property or the appraised value of the Property or any Individual Property.
Appears in 1 contract
Samples: Security Agreement
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the other Secured Note Documents securing or evidencing the Obligations, and Additional Security Instruments encumbering the Collateral and other real and personal propertyAdditional Property, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsNote. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Additional Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, including, without limitation, the STATUTORY POWER OF SALE, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property as set forth in Exhibit A to the Note, and the lien liens and the security interest interests created by such other security instruments the Additional Security Instruments shall continue in full force and effect without loss of priority as a lien liens and security interest interests securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations Additional Property are located in one or more States states and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the other Security Documents or the other Secured Note Documents Additional Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the Other Security Documents or the other Secured Note DocumentsAdditional Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States states or counties in which the Property, Property or the Collateral or any other real or personal property securing the Obligations Additional Property is located. Neither the acceptance of this Security Instrument Instrument, the Other Security Documents or the other Secured Note Documents Additional Security Instruments nor the enforcement thereof in any one State state or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the Other Security Documents, or any of the other Secured Note Documents Additional Security Instrument through one or more additional proceedings in that State state or county or in any other State atate or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Other Security Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion, without regard to the allocated loan amounts set forth on Exhibit A to the Note or the appraised value of the Property or the Additional Property.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Wellsford Real Properties Inc)
Cross-Collateralization. Section 17.1 CROSS-COLLATERALIZATION. Mortgagor acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments Security Instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyIndividual Properties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such the other security instruments Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property in the Loan Agreement, and the lien and the security interest created by such the other security instruments Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Individual Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsSecurity Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Individual Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion., without regard to the Allocated Loan Amount for the Property or any other Individual Property or the appraised value of the Property or any Individual Property. ARTICLE 18 - INTENTIONALLY OMITTED
Appears in 1 contract
Samples: Mortgage and Security Agreement (Felcor Lodging Trust Inc)
Cross-Collateralization. Section 17.1 CROSS-COLLATERALIZATION. Mortgagor acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments Security Instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyProperties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such the other security instruments Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property in the Loan Agreement, and the lien and the security interest created by such the other security instruments Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsSecurity Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion, without regard to the Allocated Loan Amount for the Property or any other Property or the appraised value of the Property or any other Property.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Felcor Lodging Trust Inc)
Cross-Collateralization. Mortgagor (a) Owner acknowledges that Agent and Lenders have agreed to make the Loans and other financial accommodations contemplated by the Credit Agreement to Borrower upon security of the collective interest of Owner, Borrower and the other Loan Parties in, among other things, the Borrowing Base Properties and in reliance upon the aggregate of the Borrowing Base Properties taken together being of greater value as collateral security than the sum of each individual Borrowing Base Property taken separately. Owner acknowledges that its Obligations are secured by this Security Instrument together with the obligations of the other Loan Parties under the other Loan Documents (collectively, the “Other Loan Party Obligations”) being secured by those additional security instruments Other Security Instruments (as defined below) given by Mortgagor and/or certain Affiliates Loan Parties to Agent for the benefit of Mortgagor to LenderSecured Parties, together with the other Secured Note their respective Loan Documents securing or evidencing the such Obligations, and encumbering the Collateral and other real and personal propertyindividual Borrowing Base Properties, all as more specifically set forth in the Credit Agreement. Owner agrees that each of the Loan Documents (including, without limitation, the Security Instruments) are and will be cross-collateralized and cross-defaulted with each other so that (i) a Credit Agreement Event of Default under this Security Instrument or any Other Security Instrument is a Credit Agreement Event of Default under each of this Security Instrument and the Other Security Instruments; (ii) a Credit Agreement Event of Default under any of the Loan Documents shall constitute a Credit Agreement Event of Default under each of the other Secured Note Loan Documents; (iii) each Security Instrument shall constitute security for the obligations of Loan Parties under the Loan Documents to which they are parties as if a single blanket lien were placed on all of the Borrowing Base Properties as security for all such obligations; and (iv) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance and Owner waives any claims related thereto. Upon the occurrence of an a Credit Agreement Event of DefaultDefault beyond any applicable notice and grace period, Lender Agent shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Other Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Obligations and/or Other Loan Party Obligations or any the portion of the ObligationsObligations and/or Other Loan Party Obligations allocated to the Property in the Credit Agreement, and the lien and the security interest created by such other security instruments the Other Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations and/or Other Loan Party Obligations then due and payable but still outstanding. Mortgagor Owner acknowledges and agrees that the Property and the other real and personal property securing the Obligations individual Borrowing Base Properties are located in one or more States and cities and/or counties, and therefore Lender Agent shall be permitted to enforce payment of the Obligations and/or Other Loan Party Obligations and the performance of any term, covenant or condition of the GuarantyNotes, the Credit Agreement, this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Other Security Instruments and exercise any and all rights and remedies under the GuarantyNotes, the Credit Agreement, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsOther Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderAgent, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral or any other real or personal property securing the Obligations is located. Neither the acceptance of this Security Instrument or the other Secured Note Documents nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument or any of the other Secured Note Documents through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the Guaranty, this Security Instrument and the other Secured Note Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender shall determine, in its sole discretion.any
Appears in 1 contract
Samples: Assignment and Acceptance Agreement (U-Store-It Trust)
Cross-Collateralization. Mortgagor acknowledges that the Obligations are secured by this Security Instrument together with with, among other things, those additional security instruments certain other Mortgages (as defined in the Credit Agreement) now or hereafter given by Mortgagor and/or certain Affiliates of Mortgagor other Persons (whether one or more, collectively, the “Other Mortgagors”) to LenderMortgagee (whether one or more, together with collectively, the other Secured Note Documents securing or evidencing the Obligations, and “Other Mortgages”) encumbering the Collateral real and other personal property more particularly described in the Other Mortgages (such real and personal property, collectively, the “Other Properties”), all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsAgreement. Upon the occurrence of an Event of Default, Lender Mortgagee shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Other Mortgages whether by court action, power of sale or otherwise, under any applicable provision of lawLaws, for all or any portion of the Obligations, Obligations and the lien Lien and the security interest created by such other security instruments the Other Mortgages shall continue in full force and effect without loss of priority as a lien Lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Other Properties are located in one or more States and and/or counties, and therefore Lender Mortgagee shall be permitted to enforce payment and performance of the Obligations and the performance of any term, covenant or condition of the GuarantyNotes, this Security Instrument Instrument, the Other Mortgages or the other Secured Note Loan Documents and exercise any and all rights and remedies under the GuarantyNotes, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsOther Mortgages or, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderMortgagee, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing of the Obligations is Other Properties are located. Neither the acceptance of this Security Instrument Instrument, the Other Mortgages or the other Secured Note Loan Documents nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the NoteNotes, this Security Instrument Instrument, the Other Mortgages or any of the other Secured Note Loan Documents through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Mortgagee or any Lender under the GuarantyNotes, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender Mortgagee shall determine, in its sole discretion, without regard to any portion of the Loan allocated to any Property or any of the Other Properties or the appraised value of the Property or any of the Other Properties.
Appears in 1 contract
Samples: Security Agreement and Fixture Filing (FelCor Lodging LP)
Cross-Collateralization. Mortgagor acknowledges that the Obligations are secured by this Security Instrument together with those additional security instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the other Secured Note Loan Documents securing or evidencing the Obligations, and encumbering the Collateral and other real and personal property, all as more specifically set forth in the Credit Loan Agreement and the other Secured Note Loan Documents. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all or any portion of the Obligations, and the lien and the security interest created by such other security instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations and the performance of any term, covenant or condition of the Guaranty, this Security Instrument or the other Secured Note Loan Documents and exercise any and all rights and remedies under the Guaranty, this Security Instrument or the other Secured Note Loan Documents, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral or any other real or personal property securing the Obligations is located. Neither the acceptance of this Security Instrument or the other Secured Note Loan Documents nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument or any of the other Secured Note Loan Documents through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the Guaranty, this Security Instrument and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations in such order and priority as Lender shall determine, in its sole discretion.
Appears in 1 contract
Cross-Collateralization. Mortgagor Grantor acknowledges that the Secured Obligations are secured by this Security Instrument together with those additional security instruments certain other Deeds of Trust (as defined in the Indenture) now or hereafter given by Mortgagor and/or Grantor or certain Affiliates of Mortgagor Grantor to LenderGrantee or to certain trustees in trust and for the benefit of Grantee (whether one or more, together with collectively, the other “Other Mortgages”) securing the Secured Note Documents securing or evidencing the Obligations, Obligations and encumbering the Collateral real and other personal property more particularly described in the Other Mortgages (such real and personal property, collectively, the “Other Properties”), all as more specifically particularly set forth in the Credit Agreement and the other Secured Note DocumentsIndenture. Upon the occurrence and during the continuance of an Event of Default, Lender Grantee shall have the right to institute or, if applicable, direct Trustee (or with respect to Other Mortgages, the trustees appointed pursuant to such Other Mortgages) to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Other Mortgages whether by court action, power of sale or otherwise, under any applicable provision of lawApplicable Laws, for all or any portion of the Obligations, Secured Obligations and the lien Lien and the security interest created by such other security instruments the Other Mortgages shall continue in full force and effect without loss of priority as a lien Lien and security interest securing the payment of that portion of the Secured Obligations then due and payable but still outstanding. Mortgagor Grantor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Other Properties are located in one or more States and states and/or counties, and therefore Lender Grantee shall be permitted to, or as the case may be, to direct certain named trustees to, enforce payment and performance of the Secured Obligations and the performance of any term, covenant or condition of the GuarantyIndenture, this Security Instrument Instrument, the Other Mortgages or the other Secured Note Documents and exercise any and all rights and remedies under the GuarantyIndenture, this Security Instrument Instrument, the other Note Documents or the other Secured Note DocumentsOther Mortgages or, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderGrantee, in its sole discretion, in any one or more of the States states or counties in which the Property, the Collateral Property or any other real or personal property securing of the Obligations is Other Properties are located. Neither the acceptance of this Security Instrument Instrument, the Other Mortgages or the other Secured Note Documents nor the enforcement thereof in any one State state or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the NoteIndenture Notes, this Security Instrument Instrument, the Other Mortgages or any of the other Secured Note Documents through one or more additional proceedings in that State state or county or in any other State state or county. Any and all sums received by Lender Grantee or any Secured Party under the GuarantyIndenture Notes, this Security Instrument Instrument, and the other Secured Note Documents on account of the Obligations shall be applied to the Secured Obligations in such order and priority as Lender Grantee shall determine, in its sole discretion, without regard to any portion of the Secured Obligations allocated to any Property or any of the Other Properties or the appraised value of the Property or any of the Other Properties.
Appears in 1 contract
Samples: Security Agreement and Fixture Filing (FelCor Lodging LP)
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments Security Instruments given by Mortgagor Borrower and/or certain Affiliates of Mortgagor Borrower to Lender, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyIndividual Properties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such the other security instruments Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property, and the lien and the security interest created by such the other security instruments Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations Individual Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsSecurity Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Individual Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion., without regard to the Allocated Loan Amount for the Property or any other Individual Property or the appraised value of the Property or any Individual Property. 21478-3715/Pacific Current Partners – NC & SC MHC Financing
Appears in 1 contract
Samples: Mortgage and Security Agreement (Manufactured Housing Properties Inc.)
Cross-Collateralization. Mortgagor acknowledges that the Secured Obligations are secured by this Security Instrument together with those additional security instruments certain other Deeds of Trust (as defined in the Indenture) now or hereafter given by Mortgagor and/or or certain Affiliates of Mortgagor to LenderMortgagee or to certain trustees in trust and for the benefit of Mortgagee (whether one or more, together with collectively, the other “Other Mortgages”) securing the Secured Note Documents securing or evidencing the Obligations, Obligations and encumbering the Collateral real and other personal property more particularly described in the Other Mortgages (such real and personal property, collectively, the “Other Properties”), all as more specifically particularly set forth in the Credit Agreement and the other Secured Note DocumentsIndenture. Upon the occurrence and during the continuance of an Event of Default, Lender Mortgagee shall have the right to institute (or, if applicable, with respect to Other Mortgages, direct the trustees appointed pursuant to such Other Mortgages) to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such other security instruments the Other Mortgages whether by court action, power of sale or otherwise, under any applicable provision of lawApplicable Laws, for all or any portion of the Obligations, Secured Obligations and the lien Lien and the security interest created by such other security instruments the Other Mortgages shall continue in full force and effect without loss of priority as a lien Lien and security interest securing the payment of that portion of the Secured Obligations then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Other Properties are located in one or more States and states and/or counties, and therefore Lender Mortgagee shall be permitted to, or as the case may be, to direct certain named trustees to, enforce payment and performance of the Secured Obligations and the performance of any term, covenant or condition of the GuarantyIndenture, this Security Instrument Instrument, the Other Mortgages or the other Secured Note Documents and exercise any and all rights and remedies under the GuarantyIndenture, this Security Instrument Instrument, the other Note Documents or the other Secured Note DocumentsOther Mortgages or, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by LenderMortgagee, in its sole discretion, in any one or more of the States states or counties in which the Property, the Collateral Property or any other real or personal property securing of the Obligations is Other Properties are located. Neither the acceptance of this Security Instrument Instrument, the Other Mortgages or the other Secured Note Documents nor the enforcement thereof in any one State state or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the NoteIndenture Notes, this Security Instrument Instrument, the Other Mortgages or any of the other Secured Note Documents through one or more additional proceedings in that State state or county or in any other State state or county. Any and all sums received by Lender Mortgagee or any Secured Party under the GuarantyIndenture Notes, this Security Instrument Instrument, and the other Secured Note Documents on account of the Obligations shall be applied to the Secured Obligations in such order and priority as Lender Mortgagee shall determine, in its sole discretion, without regard to any portion of the Secured Obligations allocated to any Property or any of the Other Properties or the appraised value of the Property or any of the Other Properties.
Appears in 1 contract
Samples: Security Agreement and Fixture Filing (FelCor Lodging Trust Inc)
Cross-Collateralization. Mortgagor Borrower acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments Security Instruments given by Mortgagor Borrower and/or certain Affiliates of Mortgagor Borrower to Lender, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyIndividual Properties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such the other security instruments Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property, and the lien and the security interest created by such the other security instruments Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor Borrower acknowledges and agrees that the Property and the other real and personal property securing the Obligations Individual Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsSecurity Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Individual Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion., without regard to the Allocated Loan Amount for the Property or any other Individual Property or the appraised value of the Property or any Individual Property. DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, FIXTURE FILING AND SECURITY AGREEMENT (Cleveland County) – Page 15 21478-3715/Pacific Current Partners – NC & SC MHC Financing
Appears in 1 contract
Samples: Fixture Filing and Security Agreement (Manufactured Housing Properties Inc.)
Cross-Collateralization. Mortgagor acknowledges that the Obligations are Debt is secured by this Security Instrument together with those additional security instruments Security Instruments given by Mortgagor and/or certain Affiliates of Mortgagor to Lender, together with the their respective Assignments of Leases and other Secured Note Loan Documents securing or evidencing the ObligationsDebt, and encumbering the Collateral and other real and personal propertyIndividual Properties, all as more specifically set forth in the Credit Agreement and the other Secured Note DocumentsLoan Agreement. Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial foreclosure of this Security Instrument and any or all of such the other security instruments Security Instruments whether by court action, power of sale or otherwise, under any applicable provision of law, for all of the Debt or any the portion of the ObligationsDebt allocated to the Property in the Loan Agreement, and the lien and the security interest created by such the other security instruments Security Instruments shall continue in full force and effect without loss of priority as a lien and security interest securing the payment of that portion of the Obligations Debt then due and payable but still outstanding. Mortgagor acknowledges and agrees that the Property and the other real and personal property securing the Obligations Individual Properties are located in one or more States and counties, and therefore Lender shall be permitted to enforce payment of the Obligations Debt and the performance of any term, covenant or condition of the GuarantyNote, this Security Instrument Instrument, the Loan Documents or the other Secured Note Documents Security Instruments and exercise any and all rights and remedies under the GuarantyNote, this Security Instrument Instrument, the other Loan Documents or the other Secured Note DocumentsSecurity Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous, consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property, the Collateral Property or any other real or personal property securing the Obligations Individual Property is located. Neither the acceptance of this Security Instrument Instrument, the other Loan Documents or the other Secured Note Documents Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise, shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this Security Instrument Instrument, the other Loan Documents, or any of the other Secured Note Documents Security Instruments through one or more additional proceedings in that State or county or in any other State or county. Any and all sums received by Lender under the GuarantyNote, this Security Instrument Instrument, and the other Secured Note Loan Documents on account of the Obligations shall be applied to the Obligations Debt in such order and priority as Lender shall determine, in its sole discretion., without regard to the Allocated Loan Amount for the Property or any other Individual Property or the appraised value of the Property or any Individual Property. ARTICLE 18- INTENTIONALLY OMITTED ARTICLE 19- INTENTIONALLY OMITTED
Appears in 1 contract
Samples: Fixture Filing and Security Agreement (FelCor Lodging Trust Inc)