Common use of Encumbrances on the Property and this Agreement Clause in Contracts

Encumbrances on the Property and this Agreement. The Parties hereto agree that this Agreement shall not prevent or limit Developer, in any manner, at Developer’s sole and absolute discretion, from encumbering the Property or any portion thereof or any improvements thereon with any Mortgage. Developer is hereby given the express right, in addition to any other rights herein granted, to grant a Mortgage on its interests in this Agreement or any part or parts thereof, under one or more Mortgages and to assign this Agreement as collateral security for any such Mortgage.