Mortgage and Security Agreement. A first Mortgage and Security Agreement on property located at 000 Xxx Xxxxx Xxxxxx, Xxxxxxxx Xxxx, Xxxxxxxx 00000.
Mortgage and Security Agreement. The Mortgage is hereby amended to also secure payment of the additional advances made in the amount of Thirty Thousand Dollars ($30,000.00). Accordingly, the Mortgage secures the original principal amount of $225,914.00 plus the additional increase of $30,000 for the entire Note amount of $255,914.00.
Mortgage and Security Agreement. A first priority open-end mortgage and security agreement (“Mortgage”) granted to the Lender to secure the Loan, on (i) the Borrower’s interest in the Property, (ii) the Borrower’s interest in all land, improvements, furniture, fixtures, equipment, and other assets (including, without limitation, contracts, contract rights, accounts, Licenses and Permits and general intangibles), including all after-acquired property, owned by, or in which Borrower has or obtains any interest, in connection with the Property; (iii) all insurance proceeds and other proceeds therefrom, and (iv) all other assets of Borrower, whether now owned or hereafter acquired and whether or not related to the Property.
Mortgage and Security Agreement. The Mortgage Note, together with all of the Borrower's other obligations under this Note, shall be secured by a Mortgage and Security Agreement executed simultaneously herewith.
Mortgage and Security Agreement. A Mortgage and Security Agreement duly executed by the Seller and delivered to the Buyer; together with an undertaking by the Seller to (i) file within the time proscribed by law for perfecting the Buyer's security interest in the Collateral, and deliver to the Buyer acknowledgment copies of the Financing Statements (UCC-1) duly filed under the Uniform Commercial Code of all jurisdictions necessary or, in the opinion of the Buyer, desirable to perfect the security interest created by the Security Agreement, and (ii) certified copies of Request for Copies or Information (Form UCC-11) identifying all of the financing statements on file with respect to the Seller in all jurisdictions referred to under (i), including the Financing Statement filed by the Buyer against the Seller's, indicating that no party claims an interest in any of the Collateral except as set forth on Schedule II;
Mortgage and Security Agreement. A first priority mortgage and security agreement (“Mortgage”) on (i) the Property, (ii) all land, improvements, furniture, fixtures, goods, equipment, and other assets (including, without limitation, accounts, contracts, contract rights, Licenses and Permits, general intangibles, documents and instruments), including all after-acquired property, owned, or in which Borrower has or obtains any interest, in connection with the Property; (iii) all insurance proceeds and other proceeds therefrom, and (iv) all other assets of Borrower whether now owned or hereafter acquired and related to the Property.
Mortgage and Security Agreement. For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower hereby grants, with MORTGAGE COVENANTS, to BANK OF AMERICA, N.A., a national banking association with an office at 000 Xxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx 00000 (together with any other holder or holders from time to time of the Note hereinafter defined, sometimes herein referred to as the “Bank”), so much of the “Mortgaged Property” as constitutes the “Premises”, and grants to the Bank a first security interest in so much of the Mortgaged Property as constitutes the “Collateral” all as hereinafter defined, in all proceeds of insurance from any damage to the Mortgaged Property and in all awards for condemnations or takings of all or any portion of the Mortgaged Property or any interest therein by eminent domain, all to secure the following obligations of the Borrower to the Bank, which obligations are collectively referred to herein as the “Mortgage Debt,” namely:
(a) the payment of amounts from time to time due pursuant to the terms of a certain Term Note of even date made by the Borrower to the order of the Bank in the principal amount of Twenty Million and 00/100 Dollars ($20,000,000.00) (the “Note”), at the times, in the manner and with interest all as more fully provided therein (including any and all renewals, extensions, amendments and rewritings thereof and advances thereunder, all now or hereafter made); and
(b) the performance of all covenants and agreements contained in the Note and this Mortgage; and
(c) the payment and performance of all obligations of the Borrower under any interest rate swap agreement, foreign exchange contract, any cap, floor or hedging agreement or other similar agreement, or other financial agreement or arrangement designed to protect the Borrower against fluctuations in any interest rate charged by the Bank under the Note (a “Swap Contract”).
Mortgage and Security Agreement. Payment of the Term Note and any other obligations under the Loan Documents, and any other obligations of either Borrower to Lender, presently existing or hereafter arising, shall be secured by a mortgage and security agreement in form and substance satisfactory to Lender covering certain real and personal property located in DeSoto County, as more specifically described therein, of which Orange- Co., Inc. ("Orange-Co"), is the record title holder, and all crops, irrigation equipment, and fixtures relating to such real property (the "Mortgage"). The lien of the Mortgage does not encumber crops once the crops are severed from the citrus trees until Lender acquires title to the real property encumbered by the Mortgage by foreclosure or otherwise. The Mortgage shall be sufficient, when properly recorded in the public records of the appropriate jurisdiction, to grant to Lender a first lien against the property described therein, subject to no prior liens or encumbrances except in favor of Lender or as Lender permits in writing. Orange-Co will execute or otherwise provide to Lender any and all modifications, financing statements, and other agreements or consents required by Lender now or in the future in connection therewith. Orange-Co shall, at Lender's request and after the occurrence of an Event of Default and the expiration of any applicable cure period, comply with the Food Security Act and provide any purchasers, commission merchants, or selling agents of the crops with a notice stating (1) the name and address of the Lender, (2) the name and address of Orange-Co, (3) the tax identification number of Orange-Co, (4) a description of the collateral that has been pledged to Lender as security for the Term Note, and (5) any payment obligations imposed on the buyer by Lender as a condition for waiver or release of the security interest. Orange-Co agrees to provide all such purchasers, commission merchants, or selling agents with the notice specified above within one year prior to the date of any sale of the crops.
Mortgage and Security Agreement. The Mortgage and Security Agreement (the "Mortgage") from Borrower in favor of Lender, dated of even date herewith, encumbering the Property as security for the Note and any sums in addition to the Loan Amount advanced by Lender under the other Loan Documents, which Mortgage is to be recorded in the appropriate public records on or about the date hereof.
Mortgage and Security Agreement. As part of the Project the Business will purchase and construct a 50 million gallon ethanol plant. The Business agrees to pledge these improvements and real estate they are erected upon as collateral to secure this loan, and shall grant the Department a second mortgage and security interest there in. The Business shall provide the Department with a date stamped, recorded “Mortgage, Security Agreement, and Financing Statement”, and an “Attorney’s Opinion of Title” reflecting a second mortgage and security interest by the Department prior to the disbursement of funds here under. This Mortgage shall be shown to be second only to the interest of Farm Credit Services of America, in an amount not to exceed $53,000,000.
