Common use of Cross-Default; Cross-Collateralization Clause in Contracts

Cross-Default; Cross-Collateralization. Grantor acknowledges that Beneficiary has made the loan evidenced by the Note to Grantor upon the security of its collective interest in the Trust Property and Other Mortgaged Properties and in reliance upon the aggregate of the Trust Property and Other Mortgaged Properties taken together being of greater value as collateral security than the sum of the Trust Property and Other Mortgaged Properties taken separately. Grantor agrees that this Deed of Trust and the other Contemporaneous Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under either this Deed of Trust or any of the Contemporaneous Mortgages shall constitute an Event of Default under both this Deed of Trust and the Contemporaneous Mortgages which secure the Note and the Contemporaneous Notes; (ii) an Event of Default under the Note shall constitute an Event of Default under each of this Deed of Trust, the Contemporaneous Notes, the Contemporaneous Mortgages and the Contemporaneous Assignments; and (iii) each of this Deed of Trust, the Contemporaneous Notes and the Contemporaneous Mortgages and the Contemporaneous Assignments shall constitute security for the Note and the Contemporaneous Notes as if a single blanket lien were placed on the Trust Property and Other Mortgaged Properties as security for the Note and the Contemporaneous Notes.

Cross-Default; Cross-Collateralization. Grantor Mortgagor acknowledges that Beneficiary Mortgagee has made the loan evidenced by the Note to Grantor Mortgagor upon the security of its collective interest in the Trust Mortgaged Property and Other Mortgaged Properties and in reliance upon the aggregate of the Trust Mortgaged Property and Other Mortgaged Properties taken together being of greater value as collateral security than the sum of the Trust Mortgaged Property and Other Mortgaged Properties taken separately. Grantor Mortgagor agrees that this Deed of Trust Mortgage and the other Contemporaneous Mortgages Security Instruments are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under either this Deed of Trust Mortgage or any of the Contemporaneous Mortgages Security Instruments shall constitute an Event of Default under both this Deed of Trust Mortgage and the Contemporaneous Mortgages Security Instruments which secure the Note and the Contemporaneous Notes; (ii) an Event of Default under the Note shall constitute an Event of Default under each of this Deed of TrustMortgage, the Contemporaneous Notes, the Contemporaneous Mortgages Security Instruments and the Contemporaneous Assignments; and (iii) each of this Deed of TrustMortgage, the Contemporaneous Notes and the Contemporaneous Mortgages Security Instruments and the Contemporaneous Assignments shall constitute security for the Note and the Contemporaneous Notes as if a single blanket lien were placed on the Trust Mortgaged Property and Other Mortgaged Properties as security for the Note and the Contemporaneous Notes.