Limitation Upon Encumbrance of Property. Prior to issuance of the Redeveloper’s Certificate of Completion of Redeveloper Improvements by the City for the Redeveloper Improvements, neither Redeveloper nor any successors in interest to Redeveloper shall engage in any financing or any other transaction creating any mortgage or any other monetary encumbrance or monetary lien upon the Project Site and Redeveloper Improvements, whether by express agreement or operation of law, or suffer any monetary encumbrance or monetary lien to be made on or attached to such Project Site and Redeveloper Improvements, except for the purposes of obtaining funds only to the extent necessary to construct and develop the Redeveloper Improvements, and to finance, operate, maintain, repair, replace and insure said Redeveloper Improvements. All such mortgages, financial encumbrances, or monetary liens shall be subject to the terms and conditions of this Redevelopment Agreement and shall be recorded in the appropriate public records in a timely manner following their execution. Redeveloper or any successors in interest shall notify the City in advance of any additional financing secured by mortgage or similar lien instrument that it proposes to enter into with respect to the Project Site and Redeveloper Improvements, and shall promptly notify the City of any encumbrance or lien that has been created on or attached to the Project Site and Redeveloper Improvements whether by voluntary act of Redeveloper or otherwise. Notwithstanding the above, if any involuntary encumbrance or lien is made on or attached to the Project Site and Redeveloper Improvements and which is contested by Redeveloper, then Redeveloper may defend against such encumbrance or lien, provided that a sufficient bond or security is posted with the Clerk of the district court pursuant to Neb. Rev. Stat. § 52-142 to avoid or prevent foreclosure of such encumbrance or lien.
Limitation Upon Encumbrance of Property. Prior to issuance of the Certificate, neither the Buyer nor any successor in interest to the Property shall engage in any financing or any other transaction creating any mortgage or other encumbrances or lien upon the Property, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attach to the Property except for the purposes only of obtaining (a) funds only to the extent necessary for the construction provided in Section 5 and (b) such additional funds, if any, in an amount not to exceed the Purchase Price paid by the Buyer to the City. Until issuance of the Certificate, the Buyer (or successor in interest) shall notify the City in advance of any financing secured by mortgage or other similar lien instrument it proposes to enter into with respect to the Property and of any encumbrance or lien that has been created on or attached to the Property whether by voluntary act of the Buyer or otherwise.
Limitation Upon Encumbrance of Property. Prior to issuance of the Certificate, neither the Redeveloper nor any successor in interest to the Property shall engage in any financing or any other transaction creating any mortgage or other encumbrances or lien upon the Property, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attach to the Property except for the purposes only of obtaining (a) funds only to the extent necessary for the construction provided in Section 1 and (b) such additional funds, if any, in an amount not to exceed the Purchase Price paid by the Redeveloper to the Agency. Until issuance of the Certificate, the Redeveloper (or successor in interest) shall notify the Agency in advance of any financing secured by mortgage or other similar lien instrument it proposes to enter into with respect to the Property and of any encumbrance or lien that has been created on or attached to the Property whether by voluntary act of the Redeveloper or otherwise.
Limitation Upon Encumbrance of Property. Prior to the issuance of the Certificate of Completion, except for financing approved by HEDRA pursuant to Section 6.1(A)(11), Developer agrees not to engage in any financing creating any mortgage or other encumbrance or lien upon the Property or the Minimum Improvements, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attached to the Property or the Minimum Improvements, other than the liens or encumbrances directly and solely related to construction of the Minimum Improvements and approved by HEDRA, which approval shall not be withheld or delayed unreasonably if HEDRA determines that such lien or encumbrance will not threaten its security in the Property or the Minimum Improvements.
Limitation Upon Encumbrance of Property. Prior to the completion of the Improvements, as certified by the City, neither Developer nor any successor in interest to the Property or any part thereof shall engage in any financing or any other transaction creating any mortgage or other Encumbrance upon the Property, whether by express agreement or operation of law, or suffer any Encumbrance to be made on or attach to the Property, except for the purposes of obtaining funds only to the extent necessary to purchase the Property and make the Improvements. Developer (or successor in interest) shall notify the City in advance of any financing, secured by mortgage or other similar lien instrument, it proposes to enter into with respect to the Property or any part thereof and shall promptly notify the City of any Encumbrance that has been created on or attached to the Property, whether by voluntary act of Developer or otherwise.
Limitation Upon Encumbrance of Property. Lady Luck shall not engage in any financing or any other transaction creating any mortgage or other encumbrances or lien upon the Project Improvements as outlined above, except with the consent of the City which consent shall not be unreasonably withheld. Creating encumbrances for the purpose of obtaining funds necessary for the construction of the Project Improvements shall not be subject to the limitations of this paragraph.
Limitation Upon Encumbrance of Property. Prior to completion of construction of the Improvements, neither the Developer nor any successor in interest to the Property, or any part thereof, shall engage in any financing or any other transaction creating any mortgage or other encumbrance or lien upon the Property, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attach to the Property, except for the purposes of obtaining funds only to the extent necessary for acquiring and constructing the Improvements, without the prior written approval of the Authority.
Limitation Upon Encumbrance of Property. Prior to the completion of the Improvements, as certified by the City, neither the Developer nor any successor in interest to the Property or any part thereof shall engage in any financing or any other transaction creating any mortgage or other Encumbrance upon the Property, whether by express agreement or operation of law, or suffer any Encumbrance to be made on or attach to the Property.
Limitation Upon Encumbrance of Property. Prior to the completion of the Improvements as certified by the AUTHORITY, neither the DEVELOPER nor any successor in interest to the PROPERTY shall engage in any financing or any other transaction creating any mortgage or other encumbrance or lien upon the PROPERTY, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attach to the AUTHORITY. Subsequent to the issuance of the final Certificate of Completion for PHASE IV the DEVELOPER (or successor in interest) shall notify the CITY and the staff of the AUTHORITY of any encumbrance or lien that has been created on or attached to the PROPERTY, within thirty (30) days of receipt of notice of such encumbrance or lien by the DEVELOPER.
Limitation Upon Encumbrance of Property. Prior to issuance of the Certificate, neither Developer nor any successor in interest to the Property shall engage in any financing creating any security interest in the Property, whether by express agreement or operation of law, except for the purposes of obtaining (a) funds necessary for completion of the Project, and (b) such additional funds, if any, in an amount not to exceed the Purchase Price paid by Developer to the City. Until issuance of the Certificate, Developer (or its successor in interest) shall notify the City and MPL in advance of any financing secured by mortgage or other similar lien instrument it proposes to enter into with respect to the Property and of any encumbrance or lien that has been created on or attached to the Property whether by voluntary act of Developer or otherwise.
