Common use of Encumbrancers or Mortgagees Clause in Contracts

Encumbrancers or Mortgagees. Prior to the registration of this Agreement, the Owner shall provide postponements or discharges, as the Town may direct, of any mortgages, liens or other encumbrances on the Lands in order to ensure that this Agreement is registered on title prior to any such mortgages, liens or other such encumbrances and that it shall have full force and effect in priority to any claims to the said Lands by the said encumbrancers and mortgagees.