Security Agreement and Fixture Filing. This Deed constitutes a security agreement under the Uniform Commercial Code as adopted in the State of Utah with respect to the Chattels and such other of the Mortgaged Property which is personal property or which are fixtures and not yet realty. Grantor desires and intends that this Deed also constitute a Fixture Filing between Grantor as debtor and Beneficiary as secured party. To this end, Grantor acknowledges (a) that this Deed covers goods which are or are to become fixtures, (b) this financing statement is to be recorded in the real estate records, (c) Grantor is the record owner of the Premises and (d) products of collateral are also covered. No financing statement covering the personal property or any portion thereof is on file in any public office, other than financing statements with respect to obligations assumed by Grantor in connection with its purchase thereof from Promus Florida. Grantor will not remove or permit the removal of the collateral or any part thereof without the prior written permission of Beneficiary. In addition to the rights and remedies granted to Beneficiary by other applicable law or hereby, Beneficiary shall have all of the rights and remedies with respect to the Chattels and such other personal property as are granted to a secured party under the Uniform Commercial Code as adopted in the State of Utah. Upon Beneficiary's request after an Event of Default, Grantor shall promptly and at its expense assemble the Chattels and such other personal property and make the same available to Beneficiary at a convenient place acceptable to Beneficiary. Grantor, after an Event of Default, shall pay to Beneficiary on demand, with interest at the Default Rate, any and all expenses, including attorneys' fees, incurred by Beneficiary in protecting its interest in the Chattels and such other personal property and in enforcing its rights with respect thereto. Any notice of sale, disposition or other intended action by Beneficiary with respect to the Chattels and such other personal property sent to Grantor in accordance with the provisions hereof at least five (5) days prior to such action shall constitute reasonable notice to Grantor. The proceeds of any such sale or disposition, or any part thereof, may be applied by Beneficiary to the payment of the indebtedness secured hereby in such order and proportions as Beneficiary in its discretion shall deem appropriate. To the extent Grantor may lawfully do so and without limiting any rights an...
Security Agreement and Fixture Filing. Section 7.01 Security Agreement 31 Section 7.02 Fixture Filing 31
Security Agreement and Fixture Filing. 22.1 DEFINITIONS
Security Agreement and Fixture Filing. With respect to the Fixtures, this Deed of Trust is hereby made and declared to be a security agreement in favor of the Beneficiary encumbering each and every item of such property included herein as a part of the Mortgaged Property, in compliance with the provisions of the Uniform Commercial Code as enacted in the State of North Carolina, and the Grantor hereby grants a security interest to the Beneficiary in and to all of such Fixtures. This Deed of Trust shall constitute a financing statement filed as a fixture filing in accordance with N.C. Gen. Stat.
Security Agreement and Fixture Filing. This Mortgage shall be deemed to be a security agreement and fixture filing pursuant to the Uniform Commercial Code of the state where the Mortgaged Property is located.
Security Agreement and Fixture Filing. This Deed of Trust shall be deemed to be a security agreement and fixture filing pursuant to the Uniform Commercial Code of the state where the Mortgaged Property is located.
Security Agreement and Fixture Filing. CERTAIN OF THE PROPERTY DESCRIBED HEREIN IS GOODS THAT ARE OR ARE TO BECOME FIXTURES RELATED TO THE REAL PROPERTY DESCRIBED HEREIN, AND IT IS INTENDED THAT, AS TO THOSE GOODS THIS DEED OF TRUST SHALL BECOME EFFECTIVE AS A FINANCING STATEMENT FILED AS A FIXTURE FILING FROM THE DATE OF ITS FILING IN THE REAL ESTATE RECORDS OF XXXX XXX COUNTY, NEW MEXICO. THE NAME OF THE RECORD OWNER OF THE ENCUMBERED PROPERTY IS CAMPUS CREST AT LAS CRUCES, LLC INFORMATION CONCERNING THE SECURITY INTEREST CREATED BY THIS INSTRUMENT MAY BE OBTAINED FROM THE LENDER AS SECURED PARTY. THIS DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING (as the same may from time to time be amended, consolidated, renewed or replaced, this “Deed of Trust”) is made as of September 22, 2006 by CAMPUS CREST AT LAS CRUCES, LLC, a Delaware limited liability company, as grantor (“Borrower”), whose address is 0 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxx Xxxxxxxx 00000, to TRSTE, INC., a Virginia corporation, as Trustee (“Trustee”) whose address is 000 Xxxxx Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxx Xxxxxxxx 00000, for the benefit of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, as beneficiary (together with its successors and assigns, “Lender”), whose address is Commercial Real Estate Services, 0000 Xxxxxxxx Xxxxx XXX-0, XX 1075, Xxxxxxxxx, Xxxxx Xxxxxxxx 00000.
Security Agreement and Fixture Filing. (a) This Mortgage is both a real property mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Mortgagor in the Mortgaged Property. Mortgagor by executing and delivering this Mortgage has granted and hereby grants to Mortgagee, as security for the Obligations, a security interest in the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this paragraph 27 the "UCC Collateral"
Security Agreement and Fixture Filing. This Deed of Trust ------------------------------------- constitutes a security agreement with respect to the portion of the Trust Property which consists of personal property and a financing statement filed as a fixture filing under the Uniform Commercial Code of the State in which the Premises are located, covering any property which now is or later may become a fixture attached to the Premises or the Improvements.
Security Agreement and Fixture Filing. (a) This Deed of Trust constitutes both a real property mortgage or deed of trust and a "security agreement," within the meaning of the Nevada UCC and the Uniform Commercial Code of the State of New York (the "N.Y. UCC"), and the Trust Property includes both real and personal property and all other rights and interest, whether tangible or intangible in nature, of the Grantor in the Trust Property. The Grantor by executing and delivering this Deed of Trust has granted to the Beneficiary, as security for the Obligations, a security interest in the UCC Collateral. If an Event of Default shall occur hereunder, the Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Nevada UCC, including, without limiting the generality of the foregoing, the rights set forth under Subparagraph 23(e) above. Any notice of sale, disposition or other intended action by the Beneficiary with respect to the UCC Collateral sent to the Grantor in accordance with the provisions of this Deed of Trust at least seven (7) days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to the Grantor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Nevada UCC or the N.Y. UCC, as applicable, unless objected to in writing by the Grantor within five (5) days after receipt by the Grantor of such notice. The proceeds of any sale or disposition of the UCC Collateral, or any part thereof, may be applied by the Beneficiary to the payment of the Obligations in such order, priority and proportions as the Beneficiary in its discretion shall deem proper. If any change shall occur in the Grantor's name, the Grantor shall promptly cause to be filed at its own expense, new financing statements as required under the Nevada UCC or the N.Y. UCC, as applicable, to replace those on file in favor of the Beneficiary. With respect to UCC Collateral, conflicts between this Paragraph 28 and/or Paragraph 23 above, on the one hand, and any provision of the Security Agreement (as defined in the Loan Agreement), on the other, shall be resolved in favor of the Security Agreement.
(b) Certain of the Trust Property described in paragraphs (a) through (l) of the granting clause of this...
