Employee’s Additional Obligations. In exchange for the benefits offered by the Company through this Agreement, Xxxxxxxx agrees to the following additional obligations:
Employee’s Additional Obligations. Employee shall take any and all --------------------------------- further actions that may from time to time be required to ensure that the Deed of Trust creates a valid lien on the Washington Property in favor of the Company, which shall secure the Note and be junior in priority only to the First Deed of Trust. Employee shall furnish evidence reasonably satisfactory to the Company that: (i) Employee has good and marketable title to the Washington Property; (ii) the consent of no other person or entity is required to grant a security interest in the Washington Property to the Company; and (iii) there is no other deed of trust, mortgage or encumbrance against the Washington Property other than the First Deed of Trust. If it should be hereafter determined that there are defects against title or matters which could result in defects against title to the Washington Property or that the consent of another person or entity is required to grant to and perfect in the Company a valid second-priority lien on the Washington Property, Employee shall promptly take all action necessary to remove such defects and to obtain such consent and grant (or cause to be granted) and perfect such lien on the Washington Property. Failure of Employee to comply with the provisions of this paragraph 6 shall be deemed a default under the Note and the Deed of Trust.
Employee’s Additional Obligations. Employee shall take any and all further actions that may from time to time be required to ensure that the Deed of Trust creates a valid lien on the Property in favor of the Company, which shall secure the Note. Employee shall furnish evidence reasonably satisfactory to the Company that: (i) Employee has good and marketable title to the Property; (ii) the consent of no other person or entity is required to grant a security interest in the Property to the Company; and (iii) there is no other deed of trust, mortgage or encumbrance against the Property. If it should be hereafter determined that there are defects against title or matters which could result in defects against title to the Property or that the consent of another person or entity is required to grant to and perfect in the Company a valid first-priority lien on the Property, Employee shall promptly take all action necessary to remove such defects and to obtain such consent and grant (or cause to be granted) and perfect such lien on the Property. Failure of Employee to comply with the provisions of this paragraph 6 shall be deemed a default under the Note and the Deed of Trust.
