RELEASE OF SECURITY DEED. If all of the secured indebtedness be paid, then and in that event only, all rights under this Security Deed shall terminate except for those provisions hereof which by their terms survive, and the Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby, which shall be released by Grantee in due form at Grantor's cost. No release of this Security Deed or the lien hereof shall be valid unless executed by Grantee.
Appears in 4 contracts
Samples: Deed to Secure Debt and Security Agreement (Merry Land Properties Inc), Deed to Secure Debt and Security Agreement (Merry Land Capital Trust), Deed to Secure Debt and Security Agreement (Merry Land Properties Inc)
RELEASE OF SECURITY DEED. If all of the secured indebtedness be paid, then and in that event only, all rights under this Security Deed shall terminate except for those provisions hereof which by their terms survive, and the Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby, which shall be released by Grantee Xxxxxxx in due form at Grantor's cost. No release of this Security Deed or the lien hereof shall be valid unless executed by GranteeXxxxxxx.
Appears in 1 contract
Samples: Deed to Secure Debt and Security Agreement (Merry Land Capital Trust)
