Last Dollars Secured Clause Samples

Last Dollars Secured. The parties agree that any payments or repayments of the Indebtedness shall be and be deemed to be applied first to the portion of the Indebtedness that is not secured hereby, if any, it being the parties’ intent that the portion of the Indebtedness last remaining unpaid shall be secured hereby.

Last Dollars Secured. This Mortgage secures only a portion of the Indebtedness owing or which may become owing by the Mortgagor. The parties agree that any payments or repayments of such Indebtedness by the Mortgagor shall be and be deemed to be applied first to the portion of the Indebtedness that is not secured hereby, it being the parties’ intent that the portion of the Indebtedness last remaining unpaid shall be secured hereby.

Last Dollars Secured. The parties agree that any payments or repayments of Obligations by Mortgagor shall be and be deemed to be applied first to the portion of the Obligations that is not secured hereby, if any, it being the parties’ intent that the portion of the Obligations last remaining unpaid shall be secured hereby.

Last Dollars Secured. This Mortgage secures only -------------------- a portion of the Indebtedness owing or which may become owing by the Mortgagor. The parties agree that any payments or repayments of such Indebtedness by the Mortgagor shall be and be deemed to be applied first to the portion of the Indebtedness that is not secured hereby, it being the parties' intent that the portion of the Indebtedness last remaining unpaid shall be secured hereby. THUS DONE AND PASSED, on the day, month and year first written above, effective as of the Effective Date, in the State and Parish aforesaid, by the undersigned Mortgagor in the presence of the undersigned Notary and the undersigned competent witnesses, who hereunto sign their names with Mortgagor after reading of the whole. WITNESSES: MORTGAGOR: JACE, Inc., a Louisiana corporation /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇ ___________________________________ By: _________________________________ ▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ Authorized Officer Printed Name: _____________________ /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. ___________________________________ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. Printed Name: _____________________ /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ _______________________________________ Notary Public Schedule A ---------- Legal Description [to come from title policy] Schedule B ---------- Prior Liens ----------- 1. Each of the liens and other encumbrances excepted as being prior to the Lien hereof as set forth in Schedule B to the marked title insurance commitment issued by Lawyers Title Insurance Corporation, dated as of the date hereof and delivered to the Trustee on the date hereof, bearing Lawyers Title Insurance Corporation reference number 37637REV relating to the real property described in Schedule A attached hereto. 2. Zoning and building ordinances and regulations, to the extent they constitute Permitted Liens of the type described in clause (4) of the definition thereof. Schedule C ---------- Leases Affecting the Mortgaged Property NONE Exhibit 1 --------- FORM OF SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT THIS SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT (the "Agreement") is made and entered into as of the ____ day of _______, ____ by and between ________________________________, as trustee, having an office at _________________ (in such capacity, "Trustee"), and _____________________, having an office at __________________________ ("Tenant").

Last Dollars Secured. This Mortgage secures only a portion of the Secured Obligations owing or which may become owing by the Mortgagor Notwithstanding anything to the contrary contained in the Financing Documents, the parties agree that any payments or repayments of such Secured Obligations by the Mortgagor shall be deemed to apply first to the portion of the Secured Obligations that is not secured hereby, it being the parties' intent that the portion of the Secured Obligations last remaining unpaid shall be deemed secured hereby.

Last Dollars Secured. To the extent this Security Instrument secures only a portion of the indebtedness owing or which may become owing by the Individual Borrower to the Lender, the parties agree that any payments or repayments of such indebtedness by the Individual Borrower shall be deemed to apply first to the portion of the indebtedness that is not secured hereby, it being the parties’ intent that the portion of the indebtedness last remaining unpaid shall be deemed secured hereby.

Last Dollars Secured. This Mortgage secures only a portion of the Indebtedness owing or which may become owing by the Mortgagor. The parties agree that any payments or repayments of such Indebtedness by the Mortgagor shall be and be deemed to be applied first to the portion of the Indebtedness that is not secured hereby, it being the parties’ intent that the portion of the Indebtedness last remaining unpaid shall be secured hereby. THUS DONE AND PASSED, on the day, month and year first written above, effective as of the Effective Date, in the State and Parish aforesaid, by the undersigned Mortgagor in the presence of the undersigned Notary and the undersigned competent witnesses, who hereunto sign their names with Mortgagor after reading of the whole. WITNESSES: MORTGAGOR: JALOU ▇▇▇▇▇▇ BRIDGE, LLC, a Louisiana limited liability company /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇ Printed Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇ ▇. ▇▇▇▇▇▇▇ Authorized Officer /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. Printed Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ Schedule A That certain tract of land, together with all the buildings and improvements thereon, situated in Sections 46, 121 and 122, Township 9 South, Range 5 East in Anse La Butte, St. ▇▇▇▇▇▇ ▇▇▇▇▇▇, Louisiana, containing 16.86 arpents, more or less, and bounded Northerly in part by a public road and in part by a servitude road, Southerly by property of ▇▇▇▇ ▇▇▇▇▇▇▇▇, et al, formerly ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ by Lot No. 5 of plat attached to Act No. 89612 of the official records of St. ▇▇▇▇▇▇ ▇▇▇▇▇▇, Louisiana, and Westerly by Lot 3 of said plat; said property being known and designated as LOT 4 as shown on said plat of survey. Schedule B 1. Each of the liens and other encumbrances excepted as being prior to the Lien hereof as set forth in Schedule B to the marked title insurance commitment issued by Lawyers Title Insurance Corporation, dated as of the date hereof and delivered to the Trustee on the date hereof, bearing Lawyers Title Insurance Corporation reference number 40889 /dd relating to the real property described in Schedule A attached hereto. 2. Zoning and building ordinances and regulations, to the extent they constitute Permitted Liens of the type described in clause (4) of the definition thereof. Schedule C 1. That certain Lease by and among Jalou ▇▇▇▇▇▇ Bridge, LLC (as Landlord) and ▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ (as Tenants), of record in COB 1386, Folio 636, Entry No. 352560 of the official records of St. ▇▇▇▇▇▇ ▇▇▇▇▇▇, Louisia...

Last Dollars Secured. 31 SIGNATURE ACKNOWLEDGMENTS SCHEDULE A Legal Description and Mortgaged Lease SCHEDULE B Prior Liens SCHEDULE C Leases MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (the "Mortgage"), dated as of December 22, 2004, made by 11190 BISCAYNE, LLC, a Florida limited liability company, having an office at ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, as mortgagor, assignor and debtor (in such capacities and together with any successors in such capacities, the "Mortgagor"), in favor of UBS AG, STAMFORD BRANCH, a Swiss banking corporation having an office at ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇, in its capacity as collateral agent for Secured Parties (as hereinafter defined), as mortgagee, assignee and secured party (in such capacities and together with any successors in such capacities, the "Mortgagee").

Last Dollars Secured. 25 Section 21. RELEASES OR RECONVEYANCES..................................... 26