Common use of RIGHT TO MORTGAGE Clause in Contracts

RIGHT TO MORTGAGE. Developer and any Person to whom it transfers its interest in this Agreement, as permitted under this Agreement (collectively and individually, as the case may be, a “Mortgagor”), shall have the right, at any time and from time to time during the term of this Agreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such Xxxxxxxxx’s respective interests in all or a portion of the Project and/or the Project Site, including any such Mortgagor’s interest in any Land Proceeds Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project the proceeds from which are used to pay or reimburse costs incurred in connection with the Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project, subject to the terms and conditions contained in this Section 18. For any Mortgage that cross-collateralizes and/or cross- defaults the obligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.1, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 18.4 shall not result in an extension of any of the time periods in this Section 18, including the cure periods specified in Section 18.5.

RIGHT TO MORTGAGE. Vertical Developer and any Person to whom it transfers its interest in this Agreement, as permitted under this Agreement (collectively and individually, as the case may be, a “Mortgagor”), shall have the right, at any time and from time to time during the term of this Agreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such Xxxxxxxxx’s respective interests in all or a portion of the Project Project, the Property and/or the Project Site, including any such Mortgagor’s interest in any Land Proceeds Accounts relating to such portions of the Project and/or the Project Site a Portion (including the right to receive payments or other revenue emanating from the Project and/or the Project Site) Property), for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, the Project SiteProperty, Phase 1 and/or the CP/HPS2 Project or the real property comprising the CP/HPS2 Project Project, the proceeds from which are used to pay or reimburse costs incurred in connection with the Project, the Project SiteProperty, the CP/HPS2 Project or the real property comprising Phase 1 and/or the CP/HPS2 Project, subject to the terms and conditions contained in this Section 18. For any Mortgage that cross-collateralizes and/or cross- defaults the obligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage13. Except as provided in this Section 18.113.1, no Mortgage shall be granted to secure obligations unrelated to the Project, the Property, Phase 1 and/or the CP/HPS2 Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or Project, the Project SiteProperty, Phase 1 and/or the CP/HPS2 Project. Notwithstanding the foregoing, any Mortgage that relates to Vertical Developer’s interest in this Agreement must encumber the Property and any Mortgage that encumbers the Property must also encumber Vertical Developer’s interest in this Agreement. A Mortgagee may transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Vertical Developer or to one or more Mortgagees under Section 18.4 13.4 shall not result in an extension of any of the time periods in this Section 1813, including the cure periods specified in Section 18.513.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom it transfers any of them Transfers its interest in this Agreement, DDA as permitted under this Agreement DDA (collectively and individually, as the case may be, a “Mortgagor”), ) shall have the right, at any time and from time to time during the term of this AgreementDDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such XxxxxxxxxMortgagor’s respective interests in all or a portion of the Project and/or the Project Site, including any such Mortgagor’s interest in any Land Proceeds the Project Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, the Project Site, the CP/HPS2 HPS 1 Project or the real property comprising the CP/HPS2 HPS 1 Project the proceeds from which are used to pay or reimburse costs incurred in connection with the Project, the Project Site, the CP/HPS2 HPS 1 Project or the real property comprising the CP/HPS2 Project, HPS 1 Project subject to the terms and conditions contained in this Section 18Article 20. For any Mortgage that cross-collateralizes and/or cross- cross-defaults the obligations of Developer and CP/HPS2 HPS 1 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.120.1, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may transfer or assign Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this Agreement DDA to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 18.4 20.4 shall not result in an extension of any of the time periods in this Section 18Article 20, including the cure periods specified in Section 18.520.5.

RIGHT TO MORTGAGE. Developer and any Person to whom it transfers its interest in this Agreement, as permitted under this Agreement (collectively and individually, as the case may be, a “Mortgagor”), shall have the right, at any time and from time to time during the term of this Agreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such XxxxxxxxxMortgagor’s respective interests in all or a portion of the Project and/or the Project Site, including any such Mortgagor’s interest in any Land Proceeds Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project the proceeds from which are used to pay or reimburse costs incurred in connection with the Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project, subject to the terms and conditions contained in this Section 18. For any Mortgage that cross-collateralizes and/or cross- defaults the obligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.1, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 18.4 shall not result in an extension of any of the time periods in this Section 18, including the cure periods specified in Section 18.5.

RIGHT TO MORTGAGE. Developer and any Person to whom it transfers any of them Transfers its respective interest in this AgreementDDA, as permitted under this Agreement DDA (collectively and individually, as the case may be, a “Mortgagor”), ) shall have the right, at any time and from time to time during the term of this AgreementDDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such XxxxxxxxxMortgagor’s respective interests ownership interest in all or a portion of the Project and/or the Project Site, including any together with such Mortgagor’s interest in any Land Proceeds Project Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, Project Site made by such Mortgagee to the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project the proceeds from which are used Mortgagor to pay or reimburse costs incurred in connection with the Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Projectobligations under this DDA, subject to the terms and conditions contained in this Section 18Article 20. For any Mortgage that cross-collateralizes and/or cross- defaults Without limiting the obligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.1foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may transfer or assign Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency Authority shall have no obligations under this Agreement DDA to a Mortgagee unless the Agency Authority is notified of such Mortgagee. Furthermore, the AgencyAuthority’s receipt of notice of a Mortgagee following the AgencyAuthority’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 18.4 20.4 shall not result in an extension of any of the time periods in this Section 18Article 20, including the cure periods specified in Section 18.520.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom it transfers any of them Transfers its interest in this Agreement, DDA as permitted under this Agreement DDA (collectively and individually, as the case may be, a “Mortgagor”), ) shall have the right, at any time and from time to time during the term of this AgreementDDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such Xxxxxxxxxa Mortgagor’s respective interests ownership interest in all or a portion of the Project and/or the Project Site, including any Site together with such Mortgagor’s interest in any Land Proceeds the Project Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, Project Site made by such Mortgagee to the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project the proceeds from which are used Mortgagor to pay or reimburse costs incurred in connection with the Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Projectobligations under this DDA, subject to this Article 20. Without limiting the terms and conditions contained in this Section 18. For any Mortgage that cross-collateralizes and/or cross- defaults the obligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.1foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may transfer or assign Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this Agreement DDA to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 18.4 20.4 shall not result in an extension of any of the time periods in this Section 18Article 20, including the cure periods specified in Section 18.520.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom it transfers any of them Transfers its interest in this Agreement, DDA as permitted under this Agreement DDA (collectively and individually, as the case may be, a “Mortgagor”), ) shall have the right, at any time and from time to time during the term of this AgreementDDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a Mortgagor’s ownership interest in the Project Site together with such Xxxxxxxxx’s respective interests interest in all or a portion of the Project and/or the Project Site, including any such Mortgagor’s interest in any Land Proceeds Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, Project Site made by such Mortgagee to the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project the proceeds from which are used Mortgagor to pay or reimburse costs incurred in connection with the Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Projectobligations under this DDA, subject to this Article 20. Without limiting the terms and conditions contained in this Section 18. For any Mortgage that cross-collateralizes and/or cross- defaults the obligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.1foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may transfer or assign Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this Agreement DDA to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 18.4 20.4 shall not result in an extension of any of the time periods in this Section 18Article 20, including the cure periods specified in Section 18.520.5.