Greater Estate. In the event that the Borrower is the owner of a leasehold estate with respect to any portion of the Premises and, prior to the satisfaction of the indebtedness secured hereby and the cancellation of this Security Instrument of record, the Borrower obtains a fee estate in such portion of the Premises, then, such fee estate shall automatically, and without further action of any kind on the part of the Borrower, be and become subject to the security lien of this Security Instrument.
Appears in 2 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Integrated Alarm Services Group Inc), Open End Mortgage, Assignment of Leases and Rents and Security Agreement (Cedar Shopping Centers Inc)
Greater Estate. In the event that the Borrower is the owner of a leasehold estate with respect to any portion of the Premises and, prior to the satisfaction of the indebtedness secured hereby and the cancellation of this Security Instrument Mortgage of record, the Borrower obtains a fee estate in such portion of the Premises, then, such fee estate shall automatically, and without further action of any kind on the part of the Borrower, be and become subject to the security lien of this Security InstrumentMortgage.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Ivex Packaging Corp /De/)
Greater Estate. In the event that the Borrower is the owner of a leasehold estate with respect to any portion of the Premises and, prior to the satisfaction of the indebtedness secured hereby and the cancellation of this Security Instrument of record, the Borrower obtains a fee estate in such portion of the Premises, then, such fee estate shall automatically, and without further action of any kind on the part of the Borrower, be and become subject to the security lien of this Security Instrument.
Appears in 1 contract
Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement (Wellsford Real Properties Inc)
Greater Estate. In the event that the Borrower is the owner of a leasehold estate with respect to any portion of the Premises and, prior to the satisfaction of the indebtedness secured hereby and the cancellation of this Security Instrument of record, the Borrower obtains a fee estate in such portion of the Premises, then, such fee estate shall automatically, and without further action of any kind on the part of the Borrower, be and become subject to the security title and lien of this Security Instrumenthereof.
Appears in 1 contract
Samples: Mortgage and Security Agreement (American International Petroleum Corp /Nv/)
