Mortgage Guarantee Sample Clauses

Mortgage Guarantee. The manufacturing enterprise (hereinafter referred to as “Sichuan Xinda”) to be established by Party B and/or Heilongjiang Xinda with an independent legal person capacity in Nanchong city shall, after acquiring the land use right for the Project, promptly mortgage the permits for ancillary rights attached to the land use right of the training center and the industrial land to an entity designated by Party A, as the guarantee for the Loan. Meanwhile, Party B shall assume joint and several liability for Heilongjiang Xinda’s repayment of the Loan.

Mortgage Guarantee. (I) The Mortgagor is willing to take a property with an appraisal value of eight million two hundred twenty-five thousand and nine hundred Yuan (see Mortgage list for details) in which the Mortgagor has the disposal right and uses it as Mortgage for the Borrower. (II) The scope of Mortgage guarantee includes the principle and interests of the loan and the costs of actualizing the creditor’s rights; (III) The effectiveness of Mortgage and accessory objects, accessory right, and yield of Mortgage (IV) The mortgage period shall commence from the day of mortgage until all the debts included in the guarantee scope have been fully repaid; (V) The mortgage properties in the Mortgage list shall be kept and utilized by the Mortgagor during the mortgage period. Moreover, the Mortgagor shall be responsible for the maintenance and preservation of the Mortgage. The certificate of proof of ownership of the Mortgage shall be kept by the mortgagee; (VI) The Mortgages listed under the Mortgage list shall not be included in the scope of bankruptcy. The portion exceeding the principle and interests of the loan and all the relevant costs may be included in the scope of bankruptcy.

Mortgage Guarantee. For the security and guarantee of the payment of the amount owed, as well as the interests and other obligations to the account of "THE SOLIDARY CO-DEBTORS", INMOBILIARIA PRICESMART, S. A. grants a mortgage of FIRST DEGREE in favor of "THE BANK" over the immovable of its property described below: 1. A portion of land of Ten Thousand Two Hundred Square Meters (10,200 Mts(2)) located within the area of ▇▇▇ ▇▇.▇▇▇-▇▇▇.-▇▇▇-▇-▇-▇ (▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇-▇▇▇▇▇▇▇▇-▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Nine-A-Three-B) of ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇. ▇ (Four) of the National District. Supported by Title Certificate (Duplicate from the Owner) No.86-10301, issued by the Registrar of Titles of the National District on September 12, 1997". 2. A portion of land of Ten Thousand Two Hundred Square Meters (10,200 Mts(2)) located within the area of ▇▇▇ ▇▇.▇▇▇-▇▇▇.-▇▇▇-▇-▇-▇ (▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇-▇▇▇▇▇▇▇▇-▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Nine-A-Three-B) of ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇. ▇ (Four) of the National District. Supported by Title Certificate (Duplicate from the Owner) No. 84-9844, issued by the Registrar of Titles of the National District on October 9, 1984, limited to the North, ▇▇▇▇▇▇▇ Summer Avenue; to the East, Lot No.110-Ref.-779-A-3 (remaining part); to the South, ▇▇▇ ▇▇. ▇▇▇-▇, ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇. ▇ of the National District; and to the West, Area ▇▇. ▇ ▇▇▇ ▇ ▇▇ ▇▇▇▇▇ ▇▇. ▇▇▇▇, ▇▇▇▇ ▇▇▇. 6 and 5 of Block No. 2915." PARAGRAPH I: PROHIBITION OF SALE, DONATION AND GUARANTEE.- It is understood that INMOBILIARIA PRICESMART, S. A. shall not consent transfers, assignments, donations, sales, or any other lien or any other new charges or encumbrances over the immovable subject of this mortgage without the express consent of "THE BANK", INMOBILIARIA PRICESMART, S. A authorizes the pertaining Registrar of Titles to take record of this prohibition. Likewise, INMOBILIARIA PRICESMART, S. A. authorizes "THE BANK" or the person whom this latter empowers to pick up the Duplicate of the Owner from the Office of the Registrar of Titles, after having registered the mortgage and keep them until the total settlement of the loan.