Grant of Mortgage and Security Interest. Mortgagor hereby sells, conveys, and mortgages unto Mortgagee, and grants a security interest to Mortgagee in the following described property:
Grant of Mortgage and Security Interest. As further Collateral for the Obligations, Lender has been, or shall on the Closing Date be, granted a first mortgage lien upon the premises located at 19 and 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx (the "Premises"), being Borrower's chief executive office and a manufacturing and distribution facility (including all personal property located thereon or used in connection therewith), pursuant to one or more Mortgages.
Grant of Mortgage and Security Interest. IN CONSIDERATION of Mortgagee’s agreement to make a discretionary loan to Mortgagor on the basis described in the Discretionary Credit Agreement, the Discretionary Credit Note, and this Second Mortgage, and for the purpose of securing the repayment of: (i) the indebtedness evidenced by the Discretionary Credit Note and all renewals, extensions and modifications thereof and any note issued in substitution thereof; (ii) the payment of all other sums, together with interest thereon, as may be advanced by Mortgagee in accordance with this Second Mortgage or the Discretionary Credit Note, and any other instruments securing payment of the Discretionary Credit Note (the indebtedness evidenced by the Discretionary Credit Note and all such other sums are hereinafter collectively referred to as the “Indebtedness”); and (iii) the performance of all of the covenants and agreements of Mortgagor contained in the Discretionary Credit Agreement or any other document entered into or given by Mortgagor in connection with the Additional Loan, Mortgagor does hereby mortgage, grant, bargain, sell, assign, transfer and convey to Mortgagee forever the Mortgaged Property described above. To Have and To Hold the Mortgaged Property unto Mortgagee forever; provided, nevertheless, that this Second Mortgage is upon the express condition that if Mortgagor shall pay to Mortgagee as and when due and payable the principal of and interest on the Discretionary Credit Note and all other Indebtedness, and shall also keep and perform each and every covenant and agreement herein contained, then this Second Mortgage and the estate hereby granted shall cease and be and become void and shall be released of record at the expense of Mortgagor; otherwise this Second Mortgage shall be and remain in full force and effect. Mortgagor represents, warrants and covenants to and with Mortgagee that Mortgagor is lawfully seized of the Land in fee simple; Mortgagor has good right and full power and authority under all applicable provisions of law to execute this Second Mortgage and to mortgage the Mortgaged Property; that the Mortgaged Property is free from all liens, security interests and encumbrances except the First Mortgage and those interests listed on attached Exhibit B; that Mortgagor will warrant and defend the title to the Mortgaged Property and the lien and priority of this Second Mortgage against all claims and demands of all persons whomsoever, whether now existing or hereafter arising, other than...
Grant of Mortgage and Security Interest. In order to secure the prompt payment and performance of the Obligations, including any and all renewals, or extensions of the whole or any part thereof (and any such renewals or extensions shall not impair in any manner the validity of or priority of this Mortgage), Mortgagor (a) does by these presents, hereby specially MORTGAGE, AFFECT, HYPOTHECATE, ENCUMBER, PLEDGE, ASSIGN AND GRANT A SECURITY INTEREST in favor of Beneficiary in any and all of Mortgagor’s present and future rights, title and interest, in, to, under and as may be derived from, the Real Property together with all rights, ways, privileges, appurtenances and advantages thereunto belonging or in anywise appertaining, unto the Beneficiary, Beneficiary’s successors and assigns; (b) grants to Beneficiary a security interest in the Personalty; (c) assigns to Beneficiary, and grants to Beneficiary a security interest in, all Condemnation Awards and all Insurance Proceeds; (d) assigns to Beneficiary, and grants to Beneficiary a security interest in, all of Mortgagor’s right, title and interest in, but not any of Mortgagor’s obligations or liabilities under, all Swap Contracts, Design and Construction Documents, all Contracts of Sale and all Refinancing Commitments, and all Letters of Credit; and (e) assigns to Beneficiary, and grants to Beneficiary a security interest in, all Accounts arising from or related to any transactions related to the Premises (including but not limited to Mortgagor’s rights in tenants’ security deposits, deposits with respect to utility services to the Premises, and any deposits, deposit accounts or reserves hereunder or under any other Loan Documents), and any account or deposit account from which Mortgagor may from time to time authorize Holder to debit and/or credit payments due with respect to the Loan or any Swap Contract, all rights to the payment of money from Beneficiary under any Swap Contract, and all accounts, deposit accounts and general intangibles including payment intangibles, described in any Swap Contract. All Persons who may have or acquire an interest in all or any part of the Property will be deemed to have notice of, and will be bound by, the terms of the Obligations and each other agreement or Mortgage made or entered into in connection with each of the Obligations. Such terms include any provisions in the Note, the Credit Agreement or any Swap Contract which provide that the interest rate on one or more of the Obligations may vary from time to time.
Grant of Mortgage and Security Interest. Mortgagor hereby sells, conveys and mortgages unto Mortgagees, and grants a security interest to Mortgagees in the following described property:
Grant of Mortgage and Security Interest
