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

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

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