Project Property of the Issuer. All Improvements, all work and materials on the Improvements as such work progresses, any Project Additions, anything under this Lease which becomes, is deemed to be, or constitutes a part of the Project, and the Project as repaired, rebuilt, rearranged, restored or replaced by the Company under the provisions of this Lease, except as otherwise specifically provided herein, shall immediately when erected or installed become the property of the Issuer. In the event this Lease is deemed to be a security agreement with respect to any of such Improvements or Project Additions, the Company hereby grants the Issuer a security interest in the Improvements and Project Additions, and all attachments, accessions, additions, substitutions, replacements and proceeds thereof (including insurance proceeds) (collectively “Collateral”) to secure all payments of Basic Rent and Additional Rent and all obligations, covenants and agreements to be performed by the Company hereunder, and agrees that this security interest shall be prior to all other security interests in the Collateral.
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