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. 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. 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, or otherwise approved by the County, 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. Mortgages and deeds of trust, or any other reasonable method of security are permitted to be placed upon Developer's fee interest in the Dealership Development Parcel and Swap Parcel but only for the purpose of securing loans approved by the City pursuant to the approved Financing Plan or as otherwise provided in this Agreement. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the City 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.
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 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, 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. Prior to the Agency’s issuance of a Certificate of Completion for a specific phase of the Project and the sale of the Restricted Units mortgages and deeds of trust, or any other reasonable security instrument are permitted to be placed upon such phase or only for the purpose of securing loans or funds to be used by Developer for the construction of the Project and other expenditures reasonably necessary for acquisition and development of the Property pursuant to this Agreement. Developer shall promptly notify Agency 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 any portion of the Property or the Improvements.
No Encumbrances Except for Development Purposes. Until a Final Certificate of Completion has been issued by the Agency or, as applicable to Phases, and homes, buildings or parcels therein, until the issuance of a Phase Certificate of Completion for a Phase by the Agency to Developer, Developer Affiliate or assigns, as the case may be, mortgages, deeds of trust, and other real property security instruments are permitted to be placed upon the Developer’s interest in the Site only as permitted pursuant to this Section 8.2. Such permitted security instruments and related interests shall be referred to as "Security Financing Interests." The Developer shall promptly notify the Agency of any Security Financing Interest that has been or will be created or attached to the Site. The Developer may place mortgages, deeds of trust, or other reasonable methods of security on the Developer’s interest in the Site only for the purpose of securing construction loans and permanent financing approved by the Agency as part of or consistent with the approved Evidence of Financing submitted pursuant to Section 3.3.
