Common use of Grant of Mortgage Clause in Contracts

Grant of Mortgage. For valuable consideration, Grantor grants, bargains, sells, conveys, assigns, transfers, releases, confirms and mortgages to Lender all of Grantor's right, title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all streets, lanes, alleys, passages, and ways; all easements, rights of way, all liberties, privileges, tenements, hereditaments, and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders with respect thereto; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Sarasota County, State of Florida: CROSS-COLLATERALIZATION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. GRANTOR’S WAIVERS. Grantor waives all rights or defenses arising by reason of any “one action” or “anti-deficiency” law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender’s commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale.

Grant of Mortgage. For valuable considerationTo secure payment of the Secured Obligations and the performance of the covenants and obligations herein contained, Grantor grantsthe Mortgagor does by these presents hereby GRANT, bargainsBARGAIN, sellsSELL, conveysALIEN, assignsCONVEY, transfersTRANSFER, releasesMORTGAGE, confirms ASSIGN, WARRANT, PLEDGE, HYPOTHECATE and mortgages CONFIRM to Lender the Mortgagee for the benefit of the Secured Persons, all of Grantor's rightthe following described rights, titletitles, interests, properties and interest estates of Mortgagor: (a) All rights, titles, interests and estates now owned or hereafter acquired by the Mortgagor in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements Oil and fixtures; all streets, lanes, alleys, passages, and ways; all easements, rights of way, all liberties, privileges, tenements, hereditaments, and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders with respect thereto; all water, water Gas Properties. (b) All rights, watercourses titles, interests and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Sarasota County, State of Florida: CROSS-COLLATERALIZATION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether estates now existing owned or hereafter arising, whether related or unrelated to acquired by the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. Grantor presently assigns to Lender all of Grantor's right, title, and interest Mortgagor in and to all present geological, geophysical, engineering, accounting, title, legal and future leases of other technical or business data concerning the Property Oil and all Rents from Gas Properties, the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. GRANTOR’S WAIVERS. Grantor waives all rights or defenses arising by reason of any “one action” or “anti-deficiency” law, Hydrocarbons or any other law item of property which may prevent Lender from bringing any action against Grantorare in the possession of the Mortgagor, including a claim for deficiency all books, files, records, magnetic media, computer records and other forms of recording or obtaining access to such data. (c) Any Property that may from time to time hereafter, by delivery or by writing of any kind, be subjected to the extent Lender Liens hereof by the Mortgagor or by anyone on the Mortgagor’s behalf; and the Mortgagee is otherwise entitled hereby authorized to a claim for deficiencyreceive the same at any time as additional security hereunder. (d) All other rights, before titles, interests and estates now owned or after Lender’s commencement or completion hereafter acquired by the Mortgagor in and to the Oil and Gas Properties and every part and parcel thereof, including, without limitation, any rights, titles, interests and estates as the same may be enlarged by the discharge of any foreclosure action, either judicially payments out of production or by exercise the removal of a power any charges or Permitted Liens to which any of salesuch Oil and Gas Properties or other rights, titles, interests or estates are subject or otherwise; all rights of the Mortgagor to Liens securing payment of proceeds from the sale of production from any of such Oil and Gas Properties, together with any and all renewals and extensions of any of such related rights, titles, interests or estates; all contracts and agreements supplemental to or amendatory of or in substitution for the contracts and agreements described or mentioned above; and any and all additional interests of any kind hereafter acquired by the Mortgagor in and to the such related rights, titles, interests or estates.

Grant of Mortgage. For valuable consideration, Grantor grantsmortgages and conveys to Lender, bargainswith power of sale, sells, conveys, assigns, transfers, releases, confirms and mortgages to Lender all of Grantor's right, title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all streets, lanes, alleys, passages, and ways; all easements, rights of way, all liberties, privileges, tenements, hereditaments, and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders with respect theretoappurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Sarasota Hennepin County, State of FloridaMinnesota: CROSS-COLLATERALIZATION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents from the Property. This shall constitute an actual and present assignment, provided that the Grantor shall have a license to collect, but not prior to accrual, all of the Rents and to retain, use and enjoy the same unless and until an Event of Default as defined herein has occurred. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. GRANTOR’S WAIVERSPAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor waives shall pay to Lender all rights or defenses arising amounts secured by reason this Mortgage as they become due and shall strictly perform all of any “one action” or “anti-deficiency” law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender’s commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale's obligations under this Mortgage.

Grant of Mortgage. For valuable consideration, Grantor grants, bargains, sells, conveys, assigns, transfers, releases, confirms and mortgages to Lender all of Grantor's ’s right, title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all streets, lanes, alleys, passages, and ways; all easements, rights of way, all liberties, privileges, tenements, hereditaments, and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders with respect thereto; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "“Real Property"”) located in Sarasota County, State of Florida: CROSS-COLLATERALIZATION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. Grantor presently assigns to Lender all of Grantor's ’s right, title, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE IN THE ORIGINAL PRINCIPAL AMOUNT OF $3,600,000.00, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF GRANTOR’S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN GRANTOR AND LENDER OF EVEN DATE HEREWITH. DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN IS ALSO DEFAULT UNDER THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: GRANTOR’S WAIVERS. Grantor waives all rights or defenses arising by reason of any “one action” or “anti-deficiency” law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender’s commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale.

Grant of Mortgage. For valuable considerationconsideration paid, Grantor grants, bargains, sells, conveys, assigns, transfers, releases, confirms and mortgages to Lender all of Grantor's right, title, and interest in and the Mortgagor hereby grants to the following described real property, together Mortgagee with all existing or subsequently erected or affixed buildings, improvements and fixtures; all streets, lanes, alleys, passages, and ways; all easements, rights Mortgage Covenants to secure [Alt. for note: the payment of way, all liberties, privileges, tenements, hereditaments, and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders Dollars ($ ) with respect thereto; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Sarasota County, State of Florida: CROSS-COLLATERALIZATION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, as provided in the promissory note (the “Note”) of Grantor [Mortgagor/maker of note] of even date payable to Lenderthe order of the Mortgagee], or [Alt. for guaranty: the performance by [guarantor] of its obligations as guarantor under a guaranty agreement (the “Guaranty”) of even date between it and [obligee] to secure the performance of all covenants and agreements contained in this Mortgage, the [Note/Guaranty] and in any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether other instrument now existing or hereafter arisingentered into to provide additional security for the [Note/Guaranty], whether related as they may be amended (collectively, the “Loan Documents”), and to secure the payment of or unrelated performance of all other debts, covenants and agreements of or by the Mortgagor to or for the benefit of the Mortgagee now existing or hereafter arising while this Mortgage is still undischarged of record, the land in As further security for the Mortgagor’s obligations, the Mortgagor hereby grants to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender Mortgagee a Uniform Commercial Code security interest in all equipment (as defined in the Uniform Commercial Code), now or hereafter located on or intended to be used in connection with the Real Property (including fixtures); all insurance proceeds including interest payable in connection with any damage or loss to the Mortgaged Property, all eminent domain awards made with respect to the Mortgaged Property, all licenses and permits for the use or occupancy of the Real Property, all trade names associated with the use or occupancy of the Real Property, all books and records relating to the Mortgagor’s operation of the Real Property, [and] all contracts, agreements and warranties, including rights to return of deposits, prepaid premiums or other payments, relating to the construction, use or occupancy of the Real Property; [Alt for all personal property: and all other personal property of the Mortgagor arising from, or now or hereafter relating to, located at or used in connection with the Real Property, including without limitation, all inventory, equipment, and other goods, documents, instruments, general intangibles, chattel paper, accounts and contract rights (each as defined in the Uniform Commercial Code),] and the proceeds therefrom (collectively, the “Personal Property”). The Real Property and the Personal Property and Rents. GRANTOR’S WAIVERS. Grantor waives all rights or defenses arising by reason of any are referred to collectively as the “one action” or “anti-deficiency” law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender’s commencement or completion of any foreclosure action, either judicially or by exercise of a power of saleMortgaged Property”.

Grant of Mortgage. 3.1 For valuable considerationthe consideration aforesaid and as continuing security for the payment of the Outstanding Amounts, Grantor grantsthe Mortgagor/s do hereby [jointly and severally] grant, bargainsconvey, sellsassign, conveysassure, assignscharge and transfer unto the Mortgagee by way of a legal mortgage, transfersand charge all their rights, releasestitle, confirms interest and mortgages benefit in all and singular of the Mortgagor/s in respect of the Properties more particularly described in Schedule II hereunder, together with all buildings, erections and constructions of every description which are standing erected or attached or shall at any time hereafter during the continuance of the security hereby constituted be erected and standing or attached to Lender the aforesaid property and premises and all of Grantor's rights to use common areas and facilities and incidentals attached thereto, together with all trees, fences, xxxxxx, ditches, ways, sewers, drains, waters, watercourses, liberties, privileges, easements and appurtenances whatsoever to and arising in relation to the said property or any part thereof, lands, hereditaments or premises whether presently in existence or in the future belonging to or in anyway appurtenant thereto AND ALL the estate, right, title, interest including any development rights, property, claim and interest demand whatsoever of the Mortgagor/s into and upon the same which description shall include all properties of the above description whether presently in existence, constructed or to be constructed on the same (the “Mortgaged Properties”), TO HAVE AND TO HOLD the Mortgaged Properties unto and to the following described real propertyuse of the Mortgagee absolutely UPON TRUST, subject to the powers and provisions contained herein and in the Transaction Documents. 3.2 The Mortgaged Properties shall also include all and singular, the Mortgagors' tangible and intangible assets (both present and future) including, without limitation, all actionable claims, inventory, insurance policies, moveable plant and machinery (whether attached or otherwise), raw materials, all items of equipment, building materials such as but not limited to steel and wooden materials, packing materials, electrical cables, electrical instruments, plumbing materials, construction materials, finished and semi-finished goods, consumable stores, spares, tools, accessories, software, patents, copyrights including any other intellectual property such as confidential information, control systems, and all other fixed assets other than land and buildings, both present and future, whether installed or not and whether lying loose or in cases or which are lying or are stored in or to be stored in or to be brought into or upon the Mortgagors' premises, warehouses, stockyards and godowns or those of the Mortgagors' agents, affiliates, associates or representatives or at various work sites or at any place or places wherever else situated or wherever else the same may be, whether now belonging to or that may at any time during the continuance of the term of the Loan, belong to the Mortgagor/s and/or that may at present or hereafter be held by any party anywhere to the order or disposition of the Mortgagor/s or in the course of transit or on high seas or on order, or delivery, howsoever and all replacements thereof and additions thereof whether by way of substitution, addition, replacement, conversion, realisation or otherwise howsoever together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all streets, lanes, alleys, passages, and ways; all easementsbenefits, rights of wayand incidentals attached thereto which are now or shall at any time hereafter be owned by the Mortgagor/s AND ALL estate, all liberties, privileges, tenements, hereditaments, and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders with respect thereto; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Sarasota County, State of Florida: CROSS-COLLATERALIZATION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. Grantor presently assigns to Lender all of Grantor's right, title, interest, property, claims and interest in and to all present and future leases demands whatsoever of the Property Mortgagor/s unto and upon the same. 3.3 Without prejudice to the above, the Mortgagor/s hereby undertakes and confirms as under, in relation to the mortgage being created in terms set out above: (i) In consideration of the Mortgagee agreeing to provide the Loan to the [Borrower/s/ Mortgagor/s], the sufficiency and adequacy of which the Mortgagor/s hereby acknowledges and confirms, the Mortgagor/s hereby agrees and acknowledges that upon execution of this Indenture, the Mortgagee alone shall have first and exclusive charge over the Mortgaged Properties notwithstanding anything to the contrary contained in any other agreement and that the rights of the Mortgagee in relation to the Mortgaged Properties shall supersede the rights of the Mortgagor/s; (ii) The Mortgagor/s agrees and undertakes to, [jointly and severally], abide by the obligations and responsibilities undertaken vide the Transaction Documents and acknowledges that in the event of any failure to do so, the Mortgagee shall be entitled to dispose of the Mortgaged Properties pursuant to this Indenture, to realize the Outstanding Amounts due and payable to the Mortgagee; (iii) The Mortgagor/s confirms and undertakes that any action taken by him/them or any deed executed by them, which in any manner, defeats or adversely affects the rights of the Mortgagee, created in terms of this Indenture, shall be null and void unless otherwise agreed to in writing by the Mortgagee; (iv) The Mortgagor/s confirms and undertakes that they shall at all times, deal with their right, title and interests in respect of the Mortgaged Properties in consultation with, and after obtaining the written consent of, the Mortgagee; (v) The Mortgagor/s further confirms and undertakes that they shall, [jointly and severally], repay all Outstanding Amount under the Transaction Documents including the principal, interest and default interest and pay all amounts in respect thereof including all interest, liquidated damages, premia on prepayment, financing charges, costs, charges, expenses and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest other monies stipulated in the Personal Property Transaction Documents in the manner set out therein and Rentsshall duly observe and perform all the terms and conditions of the Transaction Documents. 3.4 The Mortgagor/s shall ensure that at no time the asset cover in respect of the Mortgaged Properties shall fall below the ratio of , that is, the market value of the Mortgaged Properties shall always be at least , times the total Outstanding Amounts secured by the Mortgaged Properties. GRANTOR’S WAIVERSThe Mortgagor shall provide to the Mortgagee an appropriate certificate to the said effect. Grantor waives all rights or defenses arising by reason The Mortgagor shall repeat such certificates at such frequencies as the Mortgagee may require. 3.5 If the Mortgagee is of the opinion that at any “one action” or “anti-deficiency” lawtime during the subsistence of these presents, the Mortgaged Properties or any other law of them provided by the Mortgagor has become inadequate, then upon the Mortgagee advising the Mortgagor to that effect, the Mortgagor/s shall either themselves provide and furnish or provide and furnish through any of their group concerns to the Mortgagee to their satisfaction additional security as may be acceptable to the Mortgagee to cover such deficiency. 3.6 Any structures, which shall, from time to time during the continuance of this security, be erected or be in or upon the said Mortgaged Properties or any part thereof which may prevent Lender from bringing be comprised in the security in favour of the Mortgagee or fixed or attached thereto and used or intended to be used in connection with the business of the Mortgagor, whether in substitution or replacement of or in addition to any structures, fixtures, fittings and things now standing or being fixed or attached or used, shall be automatically included in the security created by these presents and without any act or action against Grantor, including a claim for deficiency to by the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender’s commencement or completion Mortgagor/s and become and be part of any foreclosure action, either judicially or by exercise of a power of salethe Mortgaged Properties.