No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, or any other reasonable method of security are permitted to be placed upon the Developer's leasehold interest in the Property for the purpose of securing loans approved by the City pursuant to the approved Final Financing Plan as updated by the Closing Financing Plan. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the City pursuant to the approved Final Financing Plan as updated by the Closing Financing Plan are each referred to as a "Security Financing Interest." The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development.
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, or any other reasonable method of security are permitted to be placed upon the Developer's fee interest in the Property, but only for the purpose of securing loans approved by the City under the approved Financing Plan. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the City under the approved Financing Plan are each referred to as a "Security Financing Interest." The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development.
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, or any other reasonable method of security are permitted to be placed upon Developer's interest in the Property, but only for the purpose of securing Approved Financing. Mortgages, deeds of trust, or other reasonable security instruments securing Approved Financing, are each referred to as a "Security Financing Interest." The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development.
No Encumbrances Except for Development Purposes. 32 Section 8.2 Holder Not Obligated to Construct 32
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, or any other reasonable method of security are permitted to be placed upon the Developer's fee interest in the Property, but only for the purpose of securing loans approved by the County pursuant to the approved Financing Plan. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the County pursuant to the approved Financing Plan are each referred to as a "Security Financing Interest." The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development.
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, or any other reasonable method of security are permitted to be placed upon the Developer's leasehold interest in the Property but only for the purpose of securing loans approved by the County pursuant to the approved Financing Plan for the Property or otherwise approved in writing by the County for the Property. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the County pursuant to the approved Financing Plan are each referred to as a "Security Financing Interest." The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate construction, and land development. In no event shall a Security Financing Interest encumber the County's interest in the Property, unless approved by the County Board of Supervisors.
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, Security Financing Interests may be placed upon the Property only for the purpose of securing loans approved by the City pursuant to the approved financing plans and the extension and replacement of such loans from time to time. The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development, including any such modes used pursuant to the City-approved financing plans.
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, lines of credit, or any other reasonable method of security, are permitted to be placed upon the Project Site prior to issuance of a Certificate of Completion pursuant to Section 6.19 for any component of the Improvements, but only for the purpose of securing funds to be used for financing the acquisition of the Project Site or construction of the Improvements on the applicable portion of the Project Site, and any other expenditures necessary and appropriate to develop the Project Site in accordance with this Agreement, and costs and expenses incurred or to be incurred by the Developer in furtherance of this Agreement and only if previously approved by the City in writing pursuant to this Agreement. The Developer shall promptly notify the City of any mortgage, deed of trust, sale and lease-back or other financing, conveyance, encumbrance or lien that has been or will be created or attached to the Project Site. The words "mortgage" and "deed of trust" as used in this Agreement includes all other appropriate modes of security for financing real estate acquisition, construction, and land development. Mortgages, deeds of trust and other reasonable methods of security permitted by this Section 14 are collectively referred to herein as a "Security Financing Interest."
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, or any other reasonable method of security are permitted to be placed upon Borrower's interest in the Property, but only for the purpose of securing Approved Financing. Mortgages, deeds of trust, or other reasonable security instruments securing Approved Financing, are each referred to as a "Security Financing Interest." The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development. For the purposes of this Article 8, Security Financing Interest does not include mortgages, deeds of trust, or other security instruments securing the Sponsor Loan and CHDC LC Loan.
No Encumbrances Except for Development Purposes. Notwithstanding any other provision of this Agreement, mortgages and deeds of trust, or any other reasonable method of security, are permitted to be placed upon the Development Site prior to issuance of a Certificate of Completion but only for the purpose of securing loans pursuant to the evidence of financing approved by the Agency pursuant to Section 2.01(f) above. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the Agency pursuant to Section 2.01(f) are each referred to as a "Security Financing Interest." The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development, including any such other modes used pursuant to the approved evidence of financing pursuant to Section 2.01(f).
