Common use of Leasehold Mortgage Authorized Clause in Contracts

Leasehold Mortgage Authorized. On one or more occasions ----------------------------- Developer may take back a Purchase Money Leasehold Mortgage upon a sale and assignment of the Leasehold Estate created by this Lease or may mortgage or otherwise encumber Developer's Leasehold Estate to an Institutional Lender (as hereinafter defined), under one or more Leasehold Mortgages and assign this Lease as security for such Mortgage or Mortgages.

Leasehold Mortgage Authorized. On one or more occasions ----------------------------- Developer may take back a Purchase Money Leasehold Mortgage Mort- gage upon a sale and assignment of the Leasehold Estate created by this Lease or may mortgage or otherwise encumber Developer's Leasehold Estate to an Institutional Lender (as hereinafter defined), under one or more Leasehold Mortgages and assign this Lease as security for such Mortgage or Mortgages.

Leasehold Mortgage Authorized. On one or more occasions ----------------------------- Developer may take back a Purchase Money Leasehold Mortgage upon a sale and assignment of the Leasehold Estate created by this Lease or may mortgage or otherwise encumber Developer's Leasehold Estate to an Institutional Lender (as hereinafter definedde- fined), under one or more Leasehold Mortgages and assign this Lease as security for such Mortgage or Mortgages.