Common use of Further Assurance of Title Clause in Contracts

Further Assurance of Title. If at any time the Lender or the Lender's counsel has reason to believe that any Advance is not secured or will or may not be secured by the Mortgage as a first lien or security interest on the Project, then the Borrower shall, within ten (10) days after written notice from the Lender, do all things and matters necessary, to assure to the reasonable satisfaction of the Lender and the Lender's counsel that any Advance previously made hereunder or to be made hereunder is secured or will be secured by the Mortgage as a first leasehold lien or security interest on the Project, and the Lender, at its option, may decline to make further Advances hereunder until the Lender has received such assurance, but nothing in this Section shall limit the Lender's right to require endorsements extending the effective date of the Title Policy as herein set forth.

Further Assurance of Title. If at any time the Lender or the Lender's counsel has reason to believe that any Advance is not secured or will or may not be secured by the Mortgage Security Deed as a first lien or security interest on the Project, then the Borrower shall, within ten (10) days after written notice from the Lender, do all things and matters necessary, to assure to the reasonable satisfaction of the Lender and the Lender's counsel that any Advance previously made hereunder or to be made hereunder is secured or will be secured by the Mortgage Security Deed as a first leasehold lien or security interest on the Project, and the Lender, at its option, may decline to make further Advances hereunder until the Lender has received such assurance, but nothing in this Section shall limit the Lender's right to require endorsements extending the effective date of the Title Policy as herein set forth.

Further Assurance of Title. Borrower will further assure title as follows. If at any time the Lender or the Lender's counsel has reason to believe that any Advance advance is not secured or will or may not be secured by the Mortgage as a first lien or security interest on the Project, then the Borrower shall, within ten (10) days after written notice from the Lender, do all things and matters necessary, necessary to assure to the reasonable satisfaction of the Lender and the Lender's counsel that any Advance advance previously made hereunder or to be made hereunder is secured or will be secured by the Mortgage as a first leasehold lien or security interest on the Project, and the Lender, at its option, may decline to make further Advances advances hereunder until the Lender has received such assurance, ; but nothing in this Section paragraph shall limit the Lender's right to require endorsements extending the effective date of the Title Policy as herein set forth.