Common use of No Encumbrances Except for Development Purposes Clause in Contracts

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 Property, but only for the purpose of securing loans approved by the County pursuant to the approved Project Financing Plan. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the County pursuant to the approved Project 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 County pursuant to the approved Project Financing Plan. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the County pursuant to the approved Project 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 Property, Developer's leasehold interest in the Residential Property but only for the purpose of securing loans approved by the County City pursuant to the approved Project Financing Plan. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the County City pursuant to the approved Project 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 County pursuant to City under the approved Project Financing PlanProposal. Mortgages, deeds of trust, or other reasonable security instruments securing loans approved by the County pursuant to City under the approved Project Financing Plan Proposal 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.development.‌