Common use of Further Assurance of Title Clause in Contracts

Further Assurance of Title. If at any time Lender has reason to believe in its reasonable opinion that any Advance is not secured or will or may not be secured by the Mortgage as a first priority lien or security interest on the Improvements (subject only to the Permitted Encumbrances and the Loan Documents), then Borrower shall, within ten (10) days after written notice from Lender, do all things and matters necessary (including execution and delivery to Lender of all further documents and performance of all other acts which Lender reasonably deems necessary or appropriate) to assure to the reasonable satisfaction of Lender that any Advance previously made hereunder or to be made hereunder is secured or will be secured by the Mortgage as a first priority lien or security interest with respect to the Improvements (subject only to the Permitted Encumbrances and the Loan Documents). Lender, at Lender’s option, may decline to make further Advances hereunder until Lender has received such assurance.

Further Assurance of Title. If at any time Lender has reason to believe in its reasonable opinion that any Advance is not secured or will or may not be secured by the Mortgage Pledge Agreement as a first priority lien or security interest on the Improvements (Collateral, subject only to the Permitted Encumbrances and the Loan Documents)Encumbrances, then Borrower shallshall or shall cause Mortgage Borrower, within ten (10) days after written notice from Lender, to do all things and matters reasonably necessary (including execution and delivery to Lender of all further documents and performance of all other acts which Lender reasonably deems necessary or appropriate) to assure to the reasonable satisfaction of Lender that any Advance previously made hereunder or to be made hereunder is secured or will be secured by the Mortgage Pledge Agreement as a first priority lien or security interest with respect to the Improvements (subject only to the Permitted Encumbrances and the Loan Documents)Collateral. Lender, at Lender’s option, may decline to make further Advances hereunder until Lender has received such assurance.