Common use of Lien on Realty Clause in Contracts

Lien on Realty. If any Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehouses), such Borrower agrees promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “New Mortgages”) covering such real Property. Each New Mortgage shall be duly recorded (at Borrowers’ expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any New Mortgage, Borrowers shall deliver to Agent, at Borrowers’ expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent, which policies shall be in form and substance reasonably satisfactory to Agent and shall insure a valid Lien in favor of Agent for the benefit of itself and each Lender on the Property covered thereby, subject only to Permitted Liens and those other exceptions reasonably acceptable to Agent and its counsel. Borrowers shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New Mortgage, as Agent and its counsel may reasonably request relating to the real Property subject to the New Mortgages.

Lien on Realty. The due and punctual payment and performance of the Obligations shall also be secured by the Lien created by the Mortgages upon all real Property described therein. If any Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehousesstorage facilities with an original lease term of less than five years), such Borrower agrees promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “"New Mortgages”") covering such real Property. Each The Mortgages and each New Mortgage shall be duly recorded (at Borrowers’ Borrower's expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any each Mortgage and each New Mortgage, Borrowers Borrower shall deliver to Agent, at Borrowers’ such Borrower's expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent insuring Agent, which as mortgagee; such policies shall be in form and substance reasonably satisfactory to Agent and shall insure a valid first Lien in favor of Agent for the benefit of itself and each Lender on the Property covered thereby, subject only to Permitted Liens and those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Said policies shall be in form and substance reasonably satisfactory to Agent. Such Borrower shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New MortgageProperty, as Agent and its counsel may reasonably request relating to the real Property subject to the any such New MortgagesMortgage.

Lien on Realty. The due and punctual payment and performance of the Obligations shall also be secured by the Lien created by the Mortgages. If any Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehouses), such Borrower agrees Borrxxxx xxxees promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “New Mortgages”"NEW MORTGAGES") covering such real Property. Each The Mortgages and each New Mortgage shall be duly recorded (at Borrowers’ Borrower's expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any the Mortgages and each New Mortgage, Borrowers shall deliver to Agent, at Borrowers’ ' expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent, which insuring Agent, as mortgagee; such policies shall be in form and substance reasonably satisfactory to Agent Agent, and shall insure a valid first Lien in favor of Agent for the benefit of itself and each Lender on the real Property covered thereby, subject only to Permitted Liens and to those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Said policies shall be in form and substance satisfactory to Agent. Borrower shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New MortgageProperty, as Agent and its counsel may reasonably request relating to the real Property subject to the any such New MortgagesMortgage.

Lien on Realty. The due and punctual payment and performance of the Obligations shall also be secured by the Lien created by the Mortgages upon all real Property described therein. If any Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehousesstorage facilities with an original lease term of less than five years), such Borrower agrees promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “New Mortgages”) covering such real Property. Each The Mortgages and each New Mortgage shall be duly recorded (at Borrowers’ Borrower’s expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any each Mortgage and each New Mortgage, Borrowers Borrower shall deliver to Agent, at Borrowers’ such Borrower’s expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent insuring Agent, which as mortgagee; such policies shall be in form and substance reasonably satisfactory to Agent and shall insure a valid first Lien in favor of Agent for the benefit of itself and each Lender on the Property covered thereby, subject only to Permitted Liens and those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Said policies shall be in form and substance reasonably satisfactory to Agent. Such Borrower shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New MortgageProperty, as Agent and its counsel may reasonably request relating to the real Property subject to the any such New MortgagesMortgage.

Lien on Realty. If any either Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehousesinterests), such Borrower agrees promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent Agent, and its counsel (herein collectively referred to as “"New Mortgages”") covering such real Property. Each New Mortgage shall be duly recorded (at Borrowers’ expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any each New Mortgage, Borrowers the applicable Borrower shall deliver to Agent, at Borrowers’ such Borrower's expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent, which for its benefit and the ratable benefit of Lenders, insuring Agent, for its benefit and the ratable benefit of Lenders, as mortgagee; such policies shall be in form and substance reasonably satisfactory to Agent and shall insure a valid first Lien in favor of Agent Agent, for its benefit and the ratable benefit of itself and each Lender Lenders, on the Property covered thereby, subject only to Permitted Liens and those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Said policies shall be in form and substance satisfactory to Agent. Such Borrower shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New MortgageProperty, as Agent and its counsel may reasonably request relating to the real Property subject to the any such New MortgagesMortgage.

Lien on Realty. If any Borrower The due and punctual payment and performance of the Tandem Mill Subfacility and all accrued and unpaid interest thereon shall acquire at any time or times hereafter any fee simple interest in other also be secured by the Lien created by the Mortgage upon the real Property (other than leasehold interests portion of the Tandem Mill Collateral. The Mortgage shall be executed by Borrower in sales offices or warehouses), such Borrower agrees promptly to execute and deliver to favor of Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “New Mortgages”) covering such real Property. Each New The Mortgage shall be duly recorded (recorded, at Borrowers’ Borrower's expense) , in each office where such recording is required to constitute a valid fully perfected first Lien on the real Property covered thereby. In respect to any New Mortgage, Borrowers Borrower shall deliver to Agent, at Borrowers’ Borrower's expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent, which policies shall be in form and substance reasonably satisfactory to Agent and shall insure a valid first Lien in favor of Agent Agent, for the benefit of itself and each Lender the Lenders, on the Property covered therebyby the Mortgage, subject only to Permitted Liens and those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Borrower shall also deliver to Agent such other usual and customary documents, including, including without limitation, ALTA Surveys limitation a boundary survey of the real Property described in any New MortgageProperty, as Agent and its counsel may reasonably request relating to the real Property subject to the New Mortgages; provided, that within (i) 60 days after the Closing Date, Borrower shall deliver to Agent and the title insurance company an as-built ALTA survey of such real Property, in form satisfactory to Agent, (ii) 10 days after the delivery of such as-built survey, an endorsement to the title insurance policy described above, removing the survey exception, together with such other endorsements as Agent shall reasonably require in connection therewith, and (iii) 60 days after the Closing Date, evidence of the completion of the subdivision of the real Property in a manner reasonably acceptable to Agent.

Lien on Realty. Agent and Lender agree to release its Lien created by the Mortgage. If any Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehousesand the real Property hereto date subject to the Mortgage), such Borrower agrees promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “New Mortgages”) covering such real Property. Each New Mortgage shall be duly recorded (at Borrowers’ Borrower’s expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any each New Mortgage, Borrowers Borrower shall deliver to Agent, at Borrowers’ Borrower’s expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent insuring Agent, which as mortgagee; such policies shall be in form and substance reasonably satisfactory to Agent and shall insure a valid first Lien in favor of Agent for its benefit and the ratable benefit of itself and each Lender Lenders, on the Property covered thereby, subject only to Permitted Liens and those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Borrower shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New MortgageSurveys, as Agent and its counsel may reasonably request relating to the real Property subject to the any such New MortgagesMortgage.

Lien on Realty. The due and punctual payment and performance of the Obligations shall also be secured by the Lien created by the Mortgages. If any Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehouses)Property, such Borrower agrees promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “New the "Mortgages”") covering such real Property. Each New Mortgage The Mortgages shall be duly recorded (at Borrowers’ Borrower's expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any New Mortgagethe Mortgages, Borrowers Borrower shall deliver or cause to be delivered to Agent, at Borrowers’ Borrower's expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent, which insuring Agent, as mortgagee; such policies shall be in form and substance reasonably satisfactory to Agent Agent, and shall insure a valid first Lien in favor of Agent for the benefit of itself and each Lender on the Real Property covered thereby, subject only to Permitted Liens and to those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Said policies shall be in form and substance satisfactory to Agent. Borrower shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New MortgageProperty, as Agent and its counsel may reasonably request relating to the real Property subject to the New Mortgagesany such Mortgage.

Lien on Realty. If any Borrower shall acquire at any time or times hereafter any fee simple interest in other real Property (other than leasehold interests in sales offices or warehousesoffices), such Borrower agrees agrees, at Agent's request, promptly to execute and deliver to Agent, for its benefit and the ratable benefit of Lenders, as additional security and Collateral for the Obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably prepared by and satisfactory in form and substance to Agent and its counsel (herein collectively referred to as “"New Mortgages”") covering such real Property. Each New Mortgage shall be duly recorded (at Borrowers’ Borrower's expense) in each office where such recording is required to constitute a valid Lien on the real Property covered thereby. In respect to any each New Mortgage, Borrowers Borrower shall deliver to Agent, at Borrowers’ Borrower's expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Agent, which insuring Agent, as mortgagee; such policies shall be in form and substance reasonably satisfactory to Agent Agent, and shall insure a valid first Lien in favor of Agent for the benefit of itself and each Lender on the Real Property covered thereby, subject only to Permitted Liens and to those other exceptions reasonably acceptable to Agent and its counsel. Borrowers Said policies shall be in form and substance reasonably satisfactory to Agent. Borrower shall also deliver to Agent such other usual and customary documents, including, without limitation, ALTA Surveys of the real Property described in any New MortgageProperty, as Agent and its counsel may reasonably request relating to the real Property subject to the any such New Mortgages.Mortgage. VPCHI01/#254442.6 2/2/98 17