Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 3 contracts
Samples: Note and Mortgage Modification (Ifs International Inc/De), Mortgage and Security Agreement (Ifs International Inc/De), Note and Mortgage Consolidation, Modification, Spreader, Extension and Security Agreement (Ifs International Inc/De)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Premises are located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Xxxxxxxxx shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Xxxxxxxxx and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Xxxxxxxxx further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all costs and expenses of any record searches for financing statements that may be filed Mortgagee shall require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Xxxxxxxxx, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 3 contracts
Samples: Mortgage (American Buildings Co /De/), Mortgage (American Buildings Co /De/), Mortgage (American Buildings Co /De/)
Security Agreement under Uniform Commercial Code. It (a) Subject to the terms of any document governing any Special Purpose Financing, it is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include reasonable, out-of-pocket attorneys’ fees and legal expenses. At Mortgagee’s request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word “Equipment” are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of any [Sections 9-334 and 9-502] of the Mortgaged Property shall never be construed Code; (iii) Mortgagor is a Delaware corporation with a organization identification number as in any way derogating from or impairing this declaration [ ]; and it is (iv) the hereby stated intention addresses of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in as set forth on the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing first page of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Servicemaster Co), Credit Agreement (Servicemaster Co)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “UCC”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the UCC and exercising such rights and remedies as may be provided to a financing statement covering secured party by the UCC with respect to all or any portion of the Mortgaged Property in the records normally pertaining to which is personal property (including, without limitation, taking possession of and selling such property, all of the Mortgaged Property, for all purposes and in all proceedings, legal ) or equitable, shall be regarded, at Mortgagees' option (ii) to the extent permitted by applicable law) , treating such property as part real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Real Estate whether or UCC shall not any such item apply). If Mortgagee shall elect to proceed under the UCC, and unless otherwise required by the Security Agreement, then ten (10) days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is physically attached reasonably convenient to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any both parties.
(b) Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the UCC) on the Mortgaged Property, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said UCC upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described in Exhibit A attached hereto. The name, type of interestorganization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, to be effective against any third party, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage. Mortgagor’s organizational identification number is 2140249.
Appears in 2 contracts
Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State State. Upon the occurrence and during the continuance of New York. Notwithstanding any Event of Default, Mortgagee may, and at the filing direction of the Required Lenders, shall, in addition to the other rights and remedies provided for herein, under applicable Law or otherwise available to it under the Credit Agreement and other Loan Documents at Mortgagee’s option either (i) proceed under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treat such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by lawapplicable Law, that: (i) as part this Mortgage upon recording or registration in the Premises records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of the Code; (ii) [ ] is the record owner of the Premises; (iii) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; and (iv) the organization identification number of Mortgagor is [ ].
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, Mortgagee shall be added reasonably require. Pursuant to the Indebtednessprovisions of the Code, payable on demand, Mortgagor hereby authorizes Mortgagee to file any such financing and continuation statements as required by the Credit Agreement. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be secured construed as in any way impairing the right of Mortgagee to proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Supervalu Inc), Credit Agreement (Supervalu Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State of New York[___]. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a “fixture filing” within the meaning of the Code; (ii) Mortgagor is the record owner of the Real Estate whether Estate; and (iii) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 2 contracts
Samples: Credit Agreement (Doane Pet Care Co), Credit Agreement (Doane Pet Care Co)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; and (v) Mortgagor's federal tax identification number is 22-100-0000. Xx addition, for purposes of Article 9 of the Michigan Uniform Commercial Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee in its reasonable discretion, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.may
Appears in 2 contracts
Samples: Mortgage Assignment of Rents and Leases, Security Agreement and Fixture Filing (Ev International Inc), Mortgage Assignment of Rents and Leases, Security Agreement and Fixture Filing (Ev International Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State in which the Mortgaged Property is located (the “Uniform Commercial Code”). If an Event of New York. Notwithstanding Default shall occur, then in addition to having any other right or remedy available at law or in equity, the filing Mortgagee shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Uniform Commercial Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee’s rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged Property, for all purposes and in all proceedings, legal or equitableUniform Commercial Code shall not apply). If the Mortgagee, shall elect to proceed under the Uniform Commercial Code, then fifteen days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At the Mortgagee’s request, the Mortgagor shall assemble the personal property and make it available to the Mortgagee at Mortgagees' option a place designated by the Mortgagee which is reasonably convenient to both parties.
(b) The Mortgagor, the Additional Mortgagor and the Mortgagee agree, to the extent permitted by law) as part , that this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageCode.
Appears in 2 contracts
Samples: Fee and Leasehold Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Broadwind Energy, Inc.), Open End Fee and Leasehold Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Broadwind Energy, Inc.)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State (the “Code”). Upon the occurrence and during the continuance of New York. Notwithstanding any Event of Default, Mortgagee may, and at the filing direction of the Required Lenders, shall, in addition to the other rights and remedies provided for herein, under applicable Law or otherwise available to it under the Credit Agreement and other Loan Documents at Mortgagee’s option either (i) proceed under the Code and exercise such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treat such property as real property and proceed with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(a) Mortgagor and Mortgagee agree, to the extent permitted by lawapplicable Law, that: (i) as part this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of the Code; (ii) [ ] is the record owner of the Premises; (iii) the addresses of Mortgagor and Mortgagee are as set forth in the initial paragraph of this Mortgage; and (iv) the organization identification number of Mortgagor is [ ].
(b) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, any such security agreements. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, Mortgagee shall be added reasonably require. Pursuant to the Indebtednessprovisions of the Code, payable on demand, Mortgagor hereby authorizes Mortgagee to file any such financing and continuation statements as required by the Credit Agreement. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be secured construed as in any way impairing the right of Mortgagee to proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 2 contracts
Samples: Credit Agreement (Supervalu Inc), Term Loan Credit Agreement (Supervalu Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code of the State state of New YorkCalifornia (the “Code”). Notwithstanding If an Event of Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Beneficiary’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then 10 days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include reasonable, out-of-pocket attorneys’ fees and legal expenses. At Beneficiary’s request, during the continuance of an Event of Default, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties (subject to the terms of any documentation governing any Permitted Receivables Transaction).
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word “Equipment” are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Deed of Trust upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of any Division 9 of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Code; (iii) Grantor is the hereby stated intention record owner of the parties that such mention in protection Owned Land; and (iv) the addresses of Mortgagee in Grantor and Beneficiary are as set forth on the event any court shall at any time hold that notice first page of Mortgagee's priority this Deed of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 2 contracts
Samples: Deed of Trust (Hertz Corp), Deed of Trust (Hertz Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State Commonwealth of New YorkVirginia (the "CODE"). Notwithstanding If an Event of Default shall occur and be continuing under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then 10 days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Beneficiary's request, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" and all Timber to be cut are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 8.9-313 and 8.9-402 of the Code; (iii) Grantor is the record owner of the Real Estate; and (iv) the addresses of Grantor and Beneficiary are as set forth on the first page of this Deed of Trust. This Deed of Trust covers Timber to be cut and Harvested Timber, as well as accounts resulting from the sale thereof, and this Deed of Trust upon being recorded in the real estate records shall operate also as a financing statement upon such of the Trust Property as constitute or may constitute Timber to be cut and Harvested Timber, as well as accounts resulting from the sale thereof, in accordance with Sections 8.9-402 and 8.9-403 of the Code. Grantor has an interest of record in the land upon which the Timber is being grown and was grown, which land is more particularly described in Schedule A to this Deed of Trust.
(c) Grantor, upon request by Beneficiary from time to time, shall execute, acknowledge and deliver to Beneficiary one or more separate security agreements, in form reasonably satisfactory to Beneficiary, covering all or any part of the Real Estate whether Trust Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Beneficiary may request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed of Trust and such security instrument. Grantor further agrees to pay to Beneficiary on demand all costs and expenses incurred by Beneficiary in connection with the preparation, execution, recording, filing and refiling of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements Beneficiary shall reasonably require. Grantor shall from time to the Real Estate or serial numbers are used for the better identification time, on request of certain items. The mention Beneficiary, deliver to Beneficiary an inventory in any such financing statement reasonable detail of any of the Mortgaged Trust Property which constitutes personal property. If Grantor shall never fail to furnish any financing or continuation statement within 10 Business Days after request by Beneficiary, then pursuant to the provisions of the Code, Grantor hereby authorizes Beneficiary, without the signature of Grantor, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Beneficiary to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed of Trust as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 2 contracts
Samples: Deed of Trust (Bear Island Finance Co Ii), Deed of Trust (Bear Island Finance Co Ii)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New YorkTexas. Notwithstanding Unless as otherwise provided for in the filing Credit Agreement, if an Event of Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Beneficiary's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, attorneys' fees and legal expenses. At Beneficiary's request, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of the Code; (ii) Grantor is the record owner of the Real Estate whether or not any such item is physically attached to Estate; and (iii) the Real Estate or serial numbers addresses of Grantor and Beneficiary are used for as set forth on the better identification first page of certain items. The mention in any such financing statement this Deed of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 2 contracts
Samples: Deed of Trust, Security Agreement, Assignment of Rents and Leases (Harland Financial Solutions, Inc.), Deed of Trust, Security Agreement, Assignment of Rents and Leases (Harland Financial Solutions, Inc.)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located solely with respect to Mortgaged Property which is personal property. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage and notice of such Event of Default has been given by Mortgagee, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, at Mortgagees' option holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses.
(to the extent permitted by lawb) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the Code) affixed to the Real Estate, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a “fixture filing” within the meaning of Sections 9-334 and 9-502 of said Code upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described in Schedule A hereto. The record owner of interestthe real property described in Schedule A hereto is Mortgagor. The name, to be effective against any third partytype of organization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage.
Appears in 2 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Presstek Inc /De/), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Presstek Inc /De/)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(to the extent permitted by lawb) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the Code) on the Land, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described in Schedule A and Schedule B attached hereto. The record owner of interestthe Owned Land is described in Schedule A and the record owner of the Leased Land is described on Schedule B. The name, to be effective against any third partytype of organization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage. Mortgagor’s organizational identification number is .
Appears in 2 contracts
Samples: Credit Agreement (Delek US Holdings, Inc.), Credit Agreement (Delek US Holdings, Inc.)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New YorkIllinois. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, such amounts, together with interest at without the Default Rate, shall be added to the Indebtedness, payable on demandsignature of Mortgagor, and hereby irrevocably appoints and constitutes Mortgagee as its true and lawful attorney-in-fact, which appointment is coupled with an interest, in its name, place and stead to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be secured construed as in any way impairing the right of Mortgagee to proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 2 contracts
Samples: Mortgage, Assignment of Rents and Leases and Security Agreement (Safety Kleen Corp/), Demand Loan Agreement (Safety Kleen Corp/)
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Junior Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State of New YorkCode. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' Mortgagee's option (to the extent permitted by law) ), as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in the financing statement is hereby declared to be for the protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, interest to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Pursuant to the provision of the Uniform Commercial Code, each Mortgagor and Borrower hereby agree that each shall authorizes Mortgagee, without the signature of such Mortgagor, to execute and hereby authorizes Mortgagee to file any financing and continuation statements which if Mortgagee shall determine determine, in its sole discretion discretion, that such are necessary or advisable in order to perfect it its security interest in the Equipment and Personalty Fixtures covered by this Junior Mortgage, and Borrower Mortgagors shall pay to Mortgagee, on demand, any reasonable out-of-pocket expenses incurred by Mortgagee in connection with the preparation, execution execution, and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 2 contracts
Samples: Junior Mortgage and Security Agreement (Atlantic Gulf Communities Corp), Junior Mortgage and Security Agreement (Atlantic Gulf Communities Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State Commonwealth of New YorkVirginia (the "CODE"). Notwithstanding If an Event of Default shall occur and be continuing under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Beneficiary's request, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" and all Timber to be cut are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 8.9-313 and 8.9-402 of the Code; (iii) Grantor is the record owner of the Real Estate; and (iv) the addresses of Grantor and Beneficiary are as set forth on the first page of this Deed of Trust. This Deed of Trust covers Timber to be cut and Harvested Timber, as well as accounts resulting from the sale thereof, and this Deed of Trust upon being recorded in the real estate records shall operate also as a financing statement upon such of the Trust Property as constitute or may constitute Timber to be cut and Harvested Timber, as well as accounts resulting from the sale thereof, in accordance with Sections 8.9-402 and 8.9-403 of the Code. Grantor has an interest of record in the land upon which the Timber is being grown and was grown, which land is more particularly described in Schedule A to this Deed of Trust.
(c) Grantor, upon request by Beneficiary from time to time, shall execute, acknowledge and deliver to Beneficiary one or more separate security agreements, in form reasonably satisfactory to Beneficiary, covering all or any part of the Real Estate whether Trust Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Beneficiary may request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed of Trust and such security instrument. Grantor further agrees to pay to Beneficiary on demand all costs and expenses incurred by Beneficiary in connection with the preparation, execution, recording, filing and re-filing of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements Beneficiary shall reasonably require. Grantor shall from time to the Real Estate or serial numbers are used for the better identification time, on request of certain items. The mention Beneficiary, deliver to Beneficiary an inventory in any such financing statement reasonable detail of any of the Mortgaged Trust Property which constitutes personal property. If Grantor shall never fail to furnish any financing or continuation statement within 10 days after request by Beneficiary, then pursuant to the provisions of the Code, Grantor hereby authorizes Beneficiary, without the signature of Grantor, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Beneficiary to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed of Trust as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 2 contracts
Samples: Credit Agreement (Bear Island Finance Co Ii), Credit Agreement (Bear Island Finance Co Ii)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Security Agreement as it relates to matters of the grant, perfection and priority of security interests the subject hereof, shall constitute a Security Agreement security agreement within the meaning of Article 9 of the Uniform Commercial Code of the State States in which the Trust Property is located. If a Credit Agreement Event of New YorkDefault shall occur, then in addition to having any other right or remedy available at Law or in equity, the Agent may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such Uniform Commercial Code with respect to all or any portion of the Trust Property which is personal property (including without limitation taking possession of and selling such property). Notwithstanding If the Agent shall elect to proceed under the Uniform Commercial Code, then fifteen (15) days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Agent shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At the Agent’s request, the Borrower shall assemble such personal property and make it available to the Agent at a place designated by the Agent which is reasonably convenient to both parties.
(b) The Borrower, upon reasonable request by the Agent from time to time, shall execute, acknowledge and deliver to the Agent one (1) or more separate security agreements, in form reasonably satisfactory to the Agent, covering all or any part of the Trust Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Agent may reasonably request in order to perfect, preserve, maintain, continue or extend the security interest under, and the priority of the Liens granted by, this Security Agreement and such security instrument. The Borrower further agrees to pay to the Agent (with funds provided by the Lessee for such purpose) on demand all reasonable costs and expenses incurred by the Agent in connection with the preparation, execution, recording, filing and re-filing of a any such document and all reasonable costs and expenses of any record searches for financing statement covering statements the Agent shall reasonably require. The filing of any of the Mortgaged Property financing or continuation statements in the records normally pertaining relating to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal property or equitable, chattels shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Agent to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered property encumbered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageSecurity Agreement.
Appears in 2 contracts
Samples: Security Agreement (Sabre Holdings Corp), Security Agreement (Sabre Holdings Corp)
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State of New YorkCode. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' Mortgagee's option (to the extent permitted by law) ), as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in the financing statement is hereby declared to be for the protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, interest to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Pursuant to the provision of the Uniform Commercial Code, Mortgagor and Borrower hereby agree that each shall authorizes Mortgagee, without the signature of Mortgagor, to execute and hereby authorizes Mortgagee to file any financing and continuation statements which if Mortgagee shall determine determine, in its sole discretion discretion, that such are necessary or advisable in order to perfect it its security interest in the Equipment and Personalty Fixtures covered by this Mortgage, and Borrower Mortgagor shall pay to Mortgagee, on demand, any reasonable out-of-pocket expenses incurred by Mortgagee in connection with the preparation, execution execution, and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Atlantic Gulf Communities Corp), Mortgage and Security Agreement (Atlantic Gulf Communities Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Security Agreement as it relates to matters of the grant, perfection and priority of security interests the subject hereof, shall constitute a Security Agreement security agreement within the meaning of Article 9 of the Uniform Commercial Code of the State States in which the Trust Property is located. If a Credit Agreement Event of New YorkDefault shall occur, then in addition to having any other right or remedy available at law or in equity, the Agent may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such Uniform Commercial Code with respect to all or any portion of the Trust Property which is personal property (including without limitation taking possession of and selling such property). Notwithstanding If the Agent shall elect to proceed under the Uniform Commercial Code, then fifteen (15) days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Agent shall include, but not be limited to, attorneys' fees and legal expenses. At the Agent's request, the Borrower shall assemble such personal property and make it available to the Agent at a place designated by the Agent which is reasonably convenient to both parties.
(b) The Borrower, upon request by the Agent from time to time, shall execute, acknowledge and deliver to the Agent one (1) or more separate security agreements, in form satisfactory to the Agent, covering all or any part of the Trust Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Agent may request in order to perfect, preserve, maintain, continue or extend the security interest under, and the priority of the Liens granted by, this Security Agreement and such security instrument. The Borrower further agrees to pay to the Agent (with funds provided by the Lessee for such purpose) on demand all costs and expenses incurred by the Agent in connection with the preparation, execution, recording, filing and re-filing of a any such document and all reasonable costs and expenses of any record searches for financing statement covering statements the Agent shall reasonably require. The filing of any of the Mortgaged Property financing or continuation statements in the records normally pertaining relating to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal property or equitable, chattels shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Agent to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered property encumbered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageSecurity Agreement.
Appears in 2 contracts
Samples: Security Agreement (Applied Analytical Industries Inc), Security Agreement (Convergys Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of__________________. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days" notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys" fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word "Equipment" are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of any Sections 9a-334 and 9a-502 of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Code; (iii) Mortgagor is the hereby stated intention record owner of the parties that such mention Owned Land and the record owners of the Leased Land are set forth on and identified as landlord or lessor in protection Schedule B attached hereto; and (iv) the addresses of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in as set forth on the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing first page of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New YorkSouth Carolina. Notwithstanding Unless as otherwise provided for in the filing Credit Agreement, if an Event of Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Xxxxxxxxx shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of the Code; (ii) Mortgagor is the record owner of the Real Estate whether Estate; and (iii) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Xxxxxxxxx further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Xxxxxxxxx, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New York. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, 165 such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 20 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Young & Rubicam Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Trust Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Beneficiary’s request, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word “Equipment” are or are to become fixtures on the Real Estate; and this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of Sections 9-334 and 9-502 of the Code. This Deed of Trust shall be effective as a financing statement filed as a fixture filing covering the fixtures included within the Premises and is to be filed for record in the real estate records of each county where any part of the Real Estate whether Premises (including said Fixtures) is situated. The real property to which the fixtures relate is described on Exhibit A attached hereto. The record owner of the real property described on Exhibit A attached hereto is Grantor. The name of the debtor for purposes of this financing statement is the name of the Grantor set forth on the first page of this Deed of Trust, and the name of the secured party for purposes of this financing statement is the name of the Beneficiary set forth on the first page of this Deed of Trust. The mailing address of the Grantor/debtor is the address of the Grantor set forth on the first page of this Deed of Trust. The address of the Beneficiary/secured party from which information concerning the security interest hereunder may be obtained is the address of the Beneficiary as set forth on the first page of this Deed of Trust. Grantor is an organization that is a corporation organized under the laws of the state of Delaware. Grantor’s organizational identification number is 2295691.
(c) Grantor, upon reasonable request by Beneficiary from time to time, shall execute, acknowledge and deliver to Beneficiary one or not more separate security agreements, in form reasonably satisfactory to Beneficiary, covering all or any part of the Trust Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Beneficiary may reasonably request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed of Trust and such security instrument. Grantor further agrees to pay to Beneficiary on demand all reasonable costs and expenses incurred by Beneficiary in connection with the preparation, execution, recording, filing and re-filing of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements Beneficiary shall reasonably require. Grantor shall from time to the Real Estate or serial numbers are used for the better identification time, on request of certain items. The mention Beneficiary, deliver to Beneficiary an inventory in any such financing statement reasonable detail of any of the Mortgaged Trust Property which constitutes personal property. If Grantor shall never fail to furnish any financing or continuation statement within 10 days after request by Beneficiary, then pursuant to the provisions of the Code, Grantor hereby authorizes Beneficiary, without the signature of Grantor, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Beneficiary to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed of Trust as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Trust Property is located. If a Notice of New York. Notwithstanding Actionable Event has been given and remains outstanding, then in addition to having any other right or remedy available at law or in equity, the filing Controlling Collateral Agent shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with the records normally pertaining Controlling Collateral Agent's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Controlling Collateral Agent shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Controlling Collateral Agent shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At the Controlling Collateral Agent's request, Grantor shall assemble the personal property and make it available to the Controlling Collateral Agent at Mortgagees' option a place designated by the Controlling Collateral Agent which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-334 and 9-502 of the Code; (iii) Grantor is the record owner of the Real Estate; and (iv) the addresses of Grantor and Beneficiary are as set forth on the first page of this Deed of Trust.
(c) Grantor, upon reasonable request by Beneficiary from time to time, shall execute, acknowledge and deliver to Beneficiary one or more separate security agreements, in form reasonably satisfactory to Beneficiary, covering all or any part of the Real Estate whether Trust Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Beneficiary may reasonably request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed of Trust and such security instrument. Grantor further agrees to pay to Beneficiary on demand all reasonable costs and expenses incurred by Beneficiary in connection with the preparation, execution, recording, filing and re-filing of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements Beneficiary shall reasonably require. Grantor shall from time to the Real Estate or serial numbers are used for the better identification time on request of certain items. The mention Beneficiary, deliver to Beneficiary an inventory in any such financing statement reasonable detail of any of the Mortgaged Trust Property which constitutes personal property. If Grantor shall never fail to furnish any financing or continuation statement within 10 days after request by Beneficiary, then pursuant to the provisions of the Code, Grantor hereby authorizes Beneficiary, without the signature of Grantor, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Beneficiary to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed of Trust as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request during the continuance of an Event of Default, Xxxxxxxxx shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Xxxxxxxxx and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Xxxxxxxxx further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Xxxxxxxxx, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
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Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto Mortgagor and Mortgagee agree that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State of New York. Notwithstanding Jersey (hereinafter in this paragraph referred to as the filing of a financing statement covering "Code") with respect to (i) any and all sums at any time on deposit or held by Mortgagee pursuant to any of the Mortgaged Property provisions of this Mortgage ("Deposits") and (ii) with respect to any goods or property included in the records normally pertaining to personal property, all definition of the term "Mortgaged Property", for all purposes and in all proceedings, legal which goods or equitable, shall property may not be regarded, at Mortgagees' option (deemed to the extent permitted by law) as form a part of the Real Estate whether described in Exhibit A hereto or may not any constitute a "fixture" (within the meaning of Section 9-313 of the Code), and all replacements of such item property, substitutions for such property, additions to such property, and the proceeds thereof (all of said property and the replacements, substitutions, and additions thereto and the proceeds thereof being sometimes hereinafter collectively referred to as the "Collateral"), and that a security interest in and to the Collateral is physically attached herby granted to Mortgagee, and the Collateral and all of Mortgagor's right, title and interest therein are hereby assigned to Mortgagee, to secure the Indebtedness and Obligations. Upon the occurrence and during the continuance of an Event of Default under this Mortgage, Mortgagee, pursuant to the appropriate provisions of the Code, shall have the option of proceeding with respect to the Collateral as to both real and personal property in accordance with its rights and remedies with respect to the real property, in which event the default provisions of the Code shall not apply. The parties agree that, in the event Mortgagee shall elect to proceed with respect to the collateral separately from the real property, ten (10) days' notice of the sale of the Collateral shall be reasonable notice. The expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and expenses incurred by Mortgagee. Mortgagor agrees that, without the written consent of Mortgagee, Mortgagor will not remove or permit to be removed from the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating Collateral. Mortgagor shall, from or impairing this declaration and it is the hereby stated intention time to time, on request of Mortgagee, deliver to Mortgagee an inventory of the parties Collateral in reasonable detail. Mortgagor covenants and represents that such mention in protection of Mortgagee in the event any court shall at any time hold all Collateral now is, and that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency all replacements thereof, must be filed in substitutions therefor or additions thereto, will be, free and clear of liens, encumbrances, or the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgageof others, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageother than Permitted Liens.
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Samples: Mortgage (Cogen Technologies Inc)
Security Agreement under Uniform Commercial Code. (a) It is the ------------------------------------------------ intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State in which the Trust Property is located. If a Loan Event of New York. Notwithstanding Default shall occur, then in addition to having any other right or remedy available at law or in equity, the filing of a financing statement covering any Trustee, at the direction of the Mortgaged Agent, shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with the records normally pertaining Trustee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyUniform Commercial Code shall not apply). If the Trustee, for all purposes and in all proceedings, legal or equitableat the direction of the Agent, shall elect to proceed under the Uniform Commercial Code, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Trustee or the Agent shall include, but not be limited to, attorneys' fees and legal expenses. At the Trustee's request, the Grantor shall assemble the personal property and make it available to the Trustee and the Agent at Mortgagees' option a place designated by the Trustee or the Agent which is reasonably convenient to both parties.
(b) The Grantor, the Trustee and the Agent agree, to the extent permitted by law, that this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Uniform Commercial Code.
(c) as The Grantor, upon request by the Trustee or the Agent from time to time, shall execute, acknowledge and deliver to the Trustee or the Agent one or more separate security agreements, in form satisfactory to the Trustee and the Agent, covering all or any part of the Real Estate whether Trust Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Trustee or the Agent may request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed of Trust and such security instrument. The Grantor further agrees to pay to the Trustee and the Agent on demand all costs and expenses incurred by the Trustee or the Agent in connection with the preparation, execution, recording, filing and re-filing of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements the Trustee or the Agent shall reasonably require; provided, however, -------- -------- that the Grantor shall not be liable for payment of any amount under this Section to the Real Estate extent Lessee is responsible for payment of such amount under the Lease or serial numbers are used for the better identification Participation Agreement. If the Grantor shall fail to furnish any financing or continuation statement within 10 days after request by the Trustee or the Agent, then pursuant to the provisions of certain items. The mention in the Uniform Commercial Code, the Grantor hereby authorizes the Trustee and the Agent, without the signature of the Grantor, to execute and file any such financing statement and continuation statements. The filing of any of financing or continuation statements in the Mortgaged Property records relating to personal property or chattels shall never not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Trustee to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed of Trust as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
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Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New York. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Real Estate/Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is reasonably convenient to both parties. This Mortgage shall likewise be a Financing Statement. This Mortgage shall be filed for record, among other places, in the real estate records of each county in which any portion of the Real Estate is situated, and, when filed in such counties, shall be effective as a financing statement covering fixtures located on salt and other mineral properties, which salt and other mineral properties (and accounts arising therefrom) and other as-extracted collateral are to be financed at the mines located on the Real Estate. At the option of Mortgagee, a carbon, photographic or other reproduction of this Mortgage or of any of financing statement covering the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, any portion thereof shall be regardedsufficient as a financing statement and may be filed as such.
(b) Mortgagor and Mortgagee agree, at Mortgagees' option (to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 the Uniform Commercial Code and other applicable law. If an. Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s New Haven County, CT rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Mortgagee shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement of any filed as a “fixture filing” against all of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is within the hereby stated intention meaning of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Code; (ii) Mortgagor is the record owner of the Real Estate; and Borrower hereby agree that each (iii) information concerning the security interest herein granted may be obtained at the addresses of Debtor (Mortgagor) and Secured Party (Mortgagee) as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute execute, acknowledge and hereby authorizes deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to file Mortgagee, covering all or any part of the Mortgaged Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing and continuation statements which statement, affidavit, confirmation statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it create, perfect, preserve, maintain„ continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording; filing and re-filing of any such statements that may be filed document and all reasonable costs and expenses of any record searches for financing statements. Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Uniform Commercial Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amountsfinancing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as, together with interest at in any way impairing the Default Rate, shall be added right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
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Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State in which the Mortgaged Property is located (the “Uniform Commercial Code”). If an Event of New York. Notwithstanding Default shall occur, then in addition to having any other right or remedy available at law or in equity, the filing Mortgagee shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Uniform Commercial Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee’s rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged Property, for all purposes and in all proceedings, legal or equitableUniform Commercial Code shall not apply). If the Mortgagee, shall elect to proceed under the Uniform Commercial Code, then fifteen days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At the Mortgagee’s request, the Mortgagor shall assemble the personal property and make it available to the Mortgagee at Mortgagees' option a place designated by the Mortgagee which is reasonably convenient to both parties.
(b) The Mortgagor and the Mortgagee agree, to the extent permitted by law) as part , that this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageCode.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of 15 14 the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such statements that may be filed document. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal 16 15 property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that (a) In addition to being a real property mortgage, this Mortgage shall constitute constitutes a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code of the State (the “Code”). If an Enforcement Event shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, the Mortgagee shall have the option, subject to applicable law, of New York. Notwithstanding either (i) proceeding under the filing of Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten (10) Business Days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, at Mortgageesholding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, reasonable attorneys' option (fees and customary legal expenses. At the Mortgagee's request, the Mortgagor shall assemble the personal property and make it available to the extent permitted Mortgagee at a place designated by lawthe Mortgagee which is reasonably convenient to both parties.
(b) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property are or will become “fixtures” (as that term is defined in the Code) on the Land, and this Mortgage, upon being filed for record in the real estate records of the county wherein such fixtures are situated, shall never be construed operate also as a financing statement filed as a fixture filing in any way derogating from accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that are or impairing this declaration and it become fixtures. The real property to which the fixtures relate is described in Schedule A hereto. The record owner of the real property described in Schedule A hereto is the hereby stated intention Mortgagor. For purposes of 509265-1725-11432-13209999 Article Nine of the parties that such mention in protection Code, (i) the Mortgagor is the “debtor” and is the type of Mortgagee organization formed in the event any court shall at any time hold that notice jurisdiction of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed organization as set forth in the Uniform Commercial Code records. Mortgagor and Borrower Preamble of this Mortgage, (ii) the organization number assigned debtor by the state in which debtor is organized is [__________], (iii) the Mortgagee is the “secured party,” (iv) information concerning the security interests created hereby agree that each shall execute and hereby authorizes may be obtained from the Mortgagee to file any financing and continuation statements which Mortgagee shall determine in at its sole discretion are necessary or advisable in order to perfect it security interest address set forth in the Equipment and Personalty covered by Preamble of this Mortgage, (v) the Mortgagor's mailing address is set forth in the Preamble of this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee (vi) this financing statement is to be recorded in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at real property records for the Default Rate, shall be added to county in which the Indebtedness, payable on demand, and shall be secured by this MortgageMortgaged Property is located.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New York. Notwithstanding in which the filing of Trust Property is located, and Grantor hereby grants a financing statement covering any of the Mortgaged Property security interest in the records normally pertaining to personal property, all of the Mortgaged Propertypersonal property of Grantor described in the Granting Clauses of this Deed of Trust. If an Event of Default shall occur under this Deed of Trust, for then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all purposes or any portion of the Trust Property which is personal property (including, without 27 26 limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in all proceedingsaccordance with Beneficiary's rights, legal or equitablepowers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Beneficiary shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Beneficiary's request, during the continuance of an Event of Default, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Grantor is the record owner of the Real Estate whether or not any such item is physically attached to Estate; and (iv) the Real Estate or serial numbers addresses of Grantor and Beneficiary are used for as set forth on the better identification first page of certain items. The mention in any such financing statement this Deed of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 1 contract
Samples: Deed of Trust (Ev International Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State of New York. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word “Equipment” are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a “fixture filing” within the meaning of Sections 9-334 and 9-502 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after reasonable request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State of New YorkIndiana. Notwithstanding If an Event of Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word “Equipment” are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement of any filed as a “fixture filing” within the meaning of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Code; (iii) Mortgagor is the hereby stated intention “debtor” and record owner of the parties that such mention in protection Land; (iv) Mortgagee is the “Secured Party” and (iv) the addresses of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in as set forth on the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing first page of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 1 contract
Samples: Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (Daramic, LLC)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State of New YorkWisconsin. Notwithstanding If an Event of Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten (10) days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word “Equipment” are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a “fixture filing” within the meaning of Sections 9-334, 9-501 and 9-502 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee, or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed by Mortgagee shall reasonably require. Pursuant to the provisions of the Code, Mortgagor hereby authorizes Mortgagee, orwithout the signature of Mortgagor, to execute (if paid by Mortgagee, necessary) and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Premises are located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all costs and expenses of any record searches for financing statements that may be filed Mortgagee shall require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 the UCC. 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. By executing and delivering this Mortgage, Mortgagor has granted and hereby grants to Mortgagee, as security for the Obligations, a security interest in all of Mortgagor’s right, title and interest in the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the UCC (the portion of the Uniform Commercial Code Mortgaged Property so subject to the UCC being referred to in this paragraph as the “Personal Property”). If an Event of Default shall occur and be continuing, Mortgagee shall have any and all rights and remedies granted to a secured party upon default under the UCC, including the right to take possession of the State Personal Property or any part thereof and to take such other measures as Mortgagee may deem necessary for the care, protection and preservation of New Yorkthe Personal Property. Notwithstanding Upon reasonable request or demand of Mortgagee, Mortgagor shall at its expense assemble the Personal Property and make it available to Mortgagee at a convenient place acceptable to Mortgagee. Any notice of sale, disposition or other intended action of Mortgagee with respect to the Personal Property sent to Mortgagor in accordance with the provisions hereof at least ten (10) days prior to such action shall constitute commercially reasonable notice to Mortgagor. In the event of any conflict between the terms of this Section 22 and terms of Article V of the Credit Agreement, the terms of Article V of the Credit Agreement shall control.
(b) Pursuant to applicable law, Mortgagor authorizes Mortgagee to file or record financing statements, continuation statements, and other filing or recording documents or instruments with respect to the Personal Property or fixtures without the signature of Mortgagor in such form and in such offices as the Mortgagee reasonably determines appropriate to perfect the security interests of Mortgagee under this Mortgage it being understood that Mortgagee shall have no obligation to file or record such documents. Mortgagor hereby ratifies and authorizes the filing by Mortgagee of a any financing statement covering with respect to such Mortgaged Property made prior to the Effective Date.
(c) In the event that any of the Mortgaged Property in hereunder is also subject to a valid and enforceable Lien under the records normally pertaining to personal property, all terms of the Security Agreement and the terms thereof are inconsistent with the terms of this Mortgage, then with respect to such Mortgaged Property, for all purposes the terms of this Mortgage shall control in the case of fixtures, and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part terms of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property Security Agreement shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee control in the event any court shall at any time hold that notice case of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed all other Collateral (as defined in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageSecurity Agreement).
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of the Uniform Commercial Code (the "CODE") of the State in which the Trust Property is located. If an Event of Default shall occur under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property; or in accordance with Beneficiary's rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Beneficiary shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Beneficiary's request, during the continuance of an Event of Default, Grantor shall assemble the personal property and make it available to Beneficiary at a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Grantor is the record owner of the Real Estate; (iv) the mailing addresses of Grantor and Beneficiary are as set forth on the first page of this Deed of Trust; (v) Grantor's federal tax identification number is 34-1000000 xxx (vi) Beneficiary's federal tax identification number is 52-1000000. Xx addition, for purposes of Article 9 of the Uniform Commercial Code of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal propertyCode, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by lawi) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Grantor is the hereby stated intention of "debtor", (ii) Beneficiary is the parties that such mention in protection of Mortgagee in "secured party" and (iii) information concerning the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that created hereby may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest obtained from Beneficiary at its address on the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by first page of this MortgageDeed of Trust.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State in which the Trust Property is located. If an Event of New York. Notwithstanding Default shall occur under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property; or in accordance with Beneficiary's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Beneficiary's request, during the continuance of an Event of Default, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Grantor is the record owner of the Real Estate; (iv) the mailing addresses of Grantor and Beneficiary are as set forth on the first page of this Deed of Trust.
(c) Grantor, upon request by Beneficiary from time to time, shall execute, acknowledge and deliver to Beneficiary one or more separate security agreements, in form satisfactory to Beneficiary in its reasonable discretion, covering all or any part of the Real Estate whether Trust Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Beneficiary may request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed of Trust and such security instrument. Grantor further agrees to pay to Beneficiary on demand all reasonable costs and expenses incurred by Beneficiary in connection with the preparation, execution, recording, filing and re-filing of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements Beneficiary shall reasonably require. If Grantor shall fail to furnish any financing or continuation statement within 10 days after request by Beneficiary, then pursuant to the Real Estate or serial numbers are used for provisions of the better identification Code, Grantor hereby authorizes Beneficiary, without the signature of certain items. The mention in Grantor, to execute and file any such financing statement and continuation statements. The filing of any of financing or continuation statements in the Mortgaged Property records relating to personal property or chattels shall never not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Beneficiary to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed of Trust as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the UCC (as defined in the Uniform Commercial Code of the State of New YorkYork (the "UCC"). Notwithstanding If an Event of Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, the filing Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited, to, reasonable attorneys' fees and legal expenses. At the Mortgagee's request, the Mortgagor shall assemble the personal property and make it available to the Mortgagee at Mortgagees' option a place designated by the Mortgagee which is reasonably convenient to both parties.
(b) The Mortgagor and the Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word "Equipment" are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9a-334 and 9a-502 of the Code; (iii) the Mortgagor is the record owner of the Owned Land; and (iv) the addresses of the Mortgagor and the Mortgagee are used as set forth on the first page of this Mortgage.
(c) The information provided in this paragraph is provided in, order that this Mortgage shall comply with the requirements of applicable law for the better identification of certain itemsa mortgage instrument to be filed as a financing statement. The mention in any such financing Mortgagor is the "Debtor" and its name and mailing address are set forth hereinabove. The "Secured Party" is the Mortgagee and its name and mailing address from which information concerning the security interest granted herein may be obtained are as set forth hereinabove. A statement of any describing the portion of the Mortgaged Property shall never comprising of goods or other personal property that may now be construed as or hereafter become fixtures hereby secured is set forth in any way derogating from or impairing this declaration and it the description of the Mortgaged Property contained herein. The Mortgagor is the hereby stated intention record owner of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageMortgaged Property.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property in which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the records normally pertaining to real and personal property, all of property constituting the Mortgaged Property; or in accordance with Mortgagee's rights, for all purposes powers and remedies with respect to the real property (in all proceedingswhich event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee in its reasonable discretion, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Mortgage, Assignment of Rent & Security Agreement (Day International Group Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property; or in accordance with Mortgagee's rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is reasonably convenient to both parties.
20 (b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; (v) Mortgagor's federal tax identification number is 34-1000000 xxx (vi) Mortgagee's federal tax identification number is 52-1000000. Xx addition, for purposes of Article 9 of the Uniform Commercial Code of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal propertyCode, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by lawi) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Mortgagor is the hereby stated intention of "debtor", (ii) Mortgagee is the parties that such mention in protection of Mortgagee in "secured party" and (iii) information concerning the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that created hereby may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest obtained from Mortgagee at its address on the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by first page of this Mortgage.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed shall constitute a Security Agreement within the meaning of Article 9 the Uniform Commercial Code and other applicable law. If an Event of Default shall occur under this Deed, then in addition to having any other right or remedy available at law or in equity, Grantee shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Property in accordance with Grantee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Grantee shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Grantee shall include, but not be limited to, attorneys’ fees and legal expenses. At Grantee’s request, Grantor shall assemble the personal property and make it available to Grantee at Mortgagees' option a place designated by Grantee which is reasonably convenient to both parties.
(b) Grantor and Grantee agree, to the extent permitted by law, that: (i) this Deed upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a “fixture filing” against all of the Property within the meaning of the Uniform Commercial Code; (ii) Grantor is the record owner of the Real Estate; and (iii) information concerning the security interest herein granted may be obtained at the addresses of Debtor (Grantor) and Secured Party (Grantee) as set forth on the first page of this Deed.
(c) Grantor, upon request by Grantee from time to time, shall execute, acknowledge and deliver to Grantee one or more separate security agreements, in form reasonably satisfactory to Grantee, covering all or any part of the Real Estate whether Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Grantee may reasonably request in order to create, perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed and such security instrument. Grantor further agrees to pay to Grantee on demand all costs and expenses incurred by Grantee in connection with the preparation, execution, recording, filing and re-filing of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements Grantee shall reasonably require. If Grantor shall fail to furnish any financing or continuation statement within 10 days after request by Grantee, then pursuant to the Real Estate or serial numbers are used for provisions of the better identification Uniform Commercial Code, Grantor hereby authorizes Grantee, without the signature of certain items. The mention in Grantor, to execute and file any such financing statement and continuation statements. The filing of any of financing or continuation statements in the Mortgaged Property records relating to personal property or chattels shall never not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Grantee to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New YorkFlorida. Notwithstanding Unless as otherwise provided for in the filing Credit Agreement, if an Event of Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Xxxxxxxxx shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of the Code; (ii) Mortgagor is the record owner of the Real Estate whether Estate; and (iii) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Xxxxxxxxx further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Xxxxxxxxx, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto Mortgagor and Mortgagee that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of Connecticut Statutes, and Mortgagor hereby grants to Mortgagee a security interest in the State Property. Mortgagee shall have all of New Yorkthe rights of a Secured Party under the Uniform Commercial Code with respect to the Property. Notwithstanding the The filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal propertyproperty notwithstanding, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' Mortgagee's option (to the extent permitted by law) ), as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way as derogating from or impairing this declaration and it is the hereby stated intention of the parties Mortgagor and Mortgagee that such mention in the financing statement is hereby declared to be for the protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's the priority of interestthis Mortgage, to be effective against any third party, including the federal Federal government and or any authority or agency thereof, must be filed in the Uniform Commercial Code records. Pursuant to the provisions of the Uniform Commercial Code, Mortgagor and Borrower hereby agree that each shall authorizes Mortgagee, without the signature of Mortgagor, to execute and hereby authorizes Mortgagee to file any financing and continuation statements which if Mortgagee shall determine determine, in its sole discretion discretion, that such financing or continuation statements are necessary or advisable in order to preserve or perfect it its security interest in the Equipment and Personalty Fixtures covered by this Mortgage, and Borrower Mortgagor shall pay to Mortgagee, on demand, any reasonable expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 1 contract
Samples: Open End Mortgage Deed and Security Agreement (Finlay Fine Jewelry Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State of New YorkOklahoma (being Title 12A Section 1-101 et seq.). Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then ten days' notice of sale of the personal propertyproperty shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At its option, Mortgagee may proceed solely or separately against the Mortgaged Property or any part thereof upon any default and will be entitled to exercise any or all of the Mortgaged Propertyrights and remedies accorded a secured party by the Code including, for all purposes and in all proceedingsbut not limited to, legal or equitablethe right to require Mortgagor, shall be regardedupon demand by Mortgagee, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of assemble the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is make the hereby stated intention of the parties that such mention in protection of same available to Mortgagee in the event any court shall at any time hold that notice of Mortgageea place convenient to both parties. Any reasonable attorney's priority of interest, to be effective against any third party, including the federal government fees and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any legal expenses incurred by Mortgagee in connection with the preparation, execution and filing of taking any such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.action will be
Appears in 1 contract
Samples: Mortgage, Assignment of Rents and Leases and Security Agreement (Ev International Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(to the extent permitted by lawb) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the Code) on the Land, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described in Schedule A and Schedule B attached hereto. The record owner of interestthe Owned Land is described in Schedule A and the record owner of the Leased Land is described on Schedule B. The name, to be effective against any third partytype of organization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage. Mortgagor’s organizational identification number is _____.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State in which the Mortgaged Property is located (the "Code"). If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then 10 days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 Business Days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Credit Agreement (SPX Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State in which the Trust Property is located. If an Event of New York. Notwithstanding Default shall occur under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Beneficiary's request, during the continuance of an Event of Default, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary, which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Grantor is the record owner of the Real Estate whether or not any such item is physically attached to Estate; and (iv) the Real Estate or serial numbers addresses of Grantor and Beneficiary are used for as set forth on the better identification first page of certain items. The mention in any such financing statement this Deed of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the ------------------------------------------------ intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "UCC") of the --- State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur, then in addition to having any other right or remedy available at law or in equity, the filing Mortgagee shall have the option of either (i) proceeding under the UCC and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyUCC shall not apply). If the Mortgagee shall elect to proceed under the UCC, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At the Mortgagee's request, the Mortgagor shall assemble the personal property and make it available to the Mortgagee at Mortgagees' option a place designated by the Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word "Equipment" are or not any such item are to become fixtures on the Property; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the UCC; (iii) Mortgagor is physically attached the record owner of the Property; and (iv) the addresses of Mortgagor and Mortgagee are as set forth in Section 19 of this Mortgage.
(c) The Mortgagor, upon request by the Mortgagee from time to time, shall execute, acknowledge and deliver to the Real Estate Mortgagee one or serial numbers are used for more separate security agreements, in form reasonably satisfactory to the better identification of certain items. The mention in Mortgagee and consistent with the Credit Documents, covering all or any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as the Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. The Mortgagor further agrees to pay to the Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by the Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements the Mortgagee shall reasonably require; provided, however, that may the Mortgagor -------- ------- shall not be filed liable for payment of any amount under this Section to the extent that (i) the Lessee is responsible for payment of such amount under the Lease, the Participation Agreement or any other Credit Document or (ii) the Lessee has not paid such amount to the Lessor. If the Mortgagor shall fail to furnish any financing or continuation statement within ten days after request by the Mortgagee, orthen pursuant to the provisions of the UCC, if paid by the Mortgagor hereby authorizes the Mortgagee, without the signature of the Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of the Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Participation Agreement (Paragon Health Network Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall 15 14 have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such statements that may be filed document. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal 16 15 property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Open End Mortgage and Security Agreement (Ero Marketing Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then 10 days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include reasonable, out-of-pocket attorneys’ fees and legal expenses. At Mortgagee’s request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties (subject to the terms of any documentation governing any Permitted Receivables Transaction).
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word “Equipment” are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of any Sections 9a-334 and 9a-502 of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Code; (iii) Mortgagor is the hereby stated intention record owner of the parties that such mention in protection Owned Land; and (iv) the addresses of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in as set forth on the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing first page of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 1 contract
Samples: Credit Agreement (Hertz Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of (the "Code")of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five business days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement required hereunder within 10 business days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New YorkMichigan. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9- 313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; and (v) Mortgagor's federal tax identification number is. In addition, for purposes of Article 9 of the Michigan Uniform Commercial Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Indenture (Harvard Industries Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State of New YorkOklahoma (being Title 12A Section 1-101 et seq.). Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then ten days' notice of sale of the personal propertyproperty shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses, At its option, Mortgagee may proceed solely or separately against the Mortgaged Property or any part thereof upon any default and will be entitled to exercise any or all of the rights and remedies accorded a secured party by the Code including, but not limited to, the right to require Mortgagor, upon demand by Mortgagee, to assemble the Mortgaged PropertyProperty and make the same available to Mortgagee at a place convenient to both parties. Any reasonable attorney's fees and legal expenses incurred by Mortgagee in taking any such action will be considered part of the reasonable expenses of retaking, holding, preparing for all purposes sale and in all proceedingsreselling the Mortgaged Property within the meaning of the Code.
(b) Mortgagor and Mortgagee agree, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law, that: (i) some or all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage. In addition, for purposes of Article 9 of the Oklahoma Uniform Commercial Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee in its reasonable discretion, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration cause to executed, acknowledged and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interestdelivered, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Mortgage, Assignment of Rents and Leases and Security Agreement (Ev International Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a pledge and Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State of New York[Wisconsin] and Mortgagor hereby grants a security interest (and any proceeds thereof) in equipment and personal property, including goods or items of equipment or personal property which are or are to become fixtures. Notwithstanding If an Event of Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity (and available under the filing Guarantee), Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then twenty (20) days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is reasonably convenient to both parties. If any Event of Default has occurred and is continuing, Mortgagee shall be the Mortgagor’s true and lawful attorney, with full power of substitution, with respect to any and all matters pertaining to the equipment and personal property (and any proceeds thereof) with full power and authority to give instructions with respect to the collection and remittance of payments, to endorse checks, to enforce the rights and remedies of the Mortgagor and to execute on behalf of the Mortgagor and in Mortgagor’s name any instruction, agreement or other writing required therefor. Mortgagor acknowledges and agrees that a disposition of the personal property in accordance with Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof. Notwithstanding the foregoing, to the extent that the Mortgaged Property includes [Collateral] (as defined in the records normally pertaining to personal propertyGuarantee), all the provisions of the Mortgaged PropertyGuarantee shall govern with respect to such property.
(b) Mortgagor and Mortgagee agree, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law, that: (i) all of the goods and items of personal property described within the definition of the word “Equipment” are or are to become fixtures on the Real Estate (other than leased Equipment); (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a “fixture filing” within the meaning of Sections 9-334, 9-501, 9-502 and 9-603 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage and the organizational identification number of Mortgagor is [ ].
(c) Mortgagor, upon written request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee within ten (10) days of written demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after written request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby appoints Mortgagee its attorney-in-fact and authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amountsfinancing and continuation statements, together all acts of such attorney being hereby ratified and confirmed; and such power, being coupled with interest at the Default Ratean interest, shall be added irrevocable until all Liens granted pursuant to the Indebtedness, payable on demand, and Security Documents terminate pursuant to the Loan Documents. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be secured construed as in any way impairing the right of Mortgagee to proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State of New YorkMichigan. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; (v) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; and (vi) Mortgagor's federal tax identification number is _______________. In addition, for purposes of Article 9 of the Michigan Uniform Commercial Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third party331 executed, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and filing refiling of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 the UCC. 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. By executing and delivering this Mortgage, Mortgagor has granted and hereby grants to Mortgagee, as security for the Obligations, a security interest in all of Mortgagor’s right, title and interest in the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the UCC (the portion of the Uniform Commercial Code Mortgaged Property so subject to the UCC being referred to in this paragraph as the “Personal Property”). If an Event of Default shall occur and be continuing, Mortgagee shall have any and all rights and remedies granted to a secured party upon default under the UCC, including the right to take possession of the State Personal Property or any part thereof and to take such other measures as Mortgagee may deem necessary for the care, protection and preservation of New Yorkthe Personal Property. Notwithstanding Upon reasonable request or demand of Mortgagee, Mortgagor shall at its expense assemble the Personal Property and make it available to Mortgagee at a convenient place acceptable to Mortgagee. Any notice of sale, disposition or other intended action of Mortgagee with respect to the Personal Property sent to Mortgagor in accordance with the provisions hereof at least ten (10) days prior to such action shall constitute commercially reasonable notice to Mortgagor. In the event of any conflict between the terms of this Section 22 and terms of Article V of the Credit Agreement, the terms of Article V of the Credit Agreement shall control.
(b) Pursuant to applicable law, Mortgagor authorizes Mortgagee to file or record financing statements, continuation statements, and other filing or recording documents or instruments with respect to the Personal Property or fixtures without the signature of Mortgagor in such form and in such offices as the Mortgagee reasonably determines appropriate to perfect the security interests of Mortgagee under this Mortgage it being understood that Mortgagee shall have no obligation to file or record such documents. Mortgagor hereby ratifies and authorizes the filing by Mortgagee of a any financing statement covering with respect to such Mortgaged Property made prior to the Effective Date.
(c) In the event that any of the Mortgaged Property in hereunder is also subject to a valid and enforceable Lien under the records normally pertaining to personal property, all terms of the Security Agreement and the terms thereof are inconsistent with the terms of this Mortgage, then with respect to such Mortgaged Property, for all purposes the terms of this Mortgage shall control in the case of Fixtures, and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part terms of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property Security Agreement shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee control in the event any court shall at any time hold that notice case of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed all other Collateral (as defined in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageSecurity Agreement).
Appears in 1 contract
Samples: Revolving Credit Agreement (CF Industries Holdings, Inc.)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State of New YorkNorth Carolina and Grantor hereby grants to Beneficiary a security interest in all the Trust Property that is personal property under the Code. Notwithstanding If an Event of Default shall occur and be continuing under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, attorneys’ fees and legal expenses. At Beneficiary’s request, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word “Equipment” are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Deed of Trust upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of any Sections 9-334a and 9-502a of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Code; (iii) Grantor is the hereby stated intention record owner of the parties that such mention in protection Land; and (iv) the addresses of Mortgagee in Grantor and Beneficiary are as set forth on the event any court shall at any time hold that notice first page of Mortgagee's priority this Deed of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 1 contract
Samples: Deed of Trust (Daramic, LLC)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 the UCC. 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 Uniform Commercial Code Mortgaged Property. By executing and delivering this Mortgage, Mortgagor has granted and hereby grants to Mortgagee, as security for the Obligations, a security interest in all of Mortgagor’s right, title and interest in the State of New York. Notwithstanding Mortgaged Property to the filing of a financing statement covering any full extent that the Mortgaged Property may be subject to the UCC (the portion of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (so subject to the extent permitted by law) UCC being referred to in this paragraph as part the “Personal Property”). If an Event of Default shall occur and be continuing, Mortgagee shall have any and all rights and remedies granted to a secured party upon default under the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third partyUCC, including the federal government right to take possession of the Personal Property or any part thereof and any authority to take such other measures as Mortgagee may deem necessary for the care, protection and preservation of the Personal Property. Upon reasonable request or agency thereofdemand of Mortgagee, must be filed Mortgagor shall at its expense assemble the Personal Property and make it available to Mortgagee at a convenient place acceptable to Mortgagee. Any notice of sale, disposition or other intended action of Mortgagee with respect to the Personal Property sent to Mortgagor in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection accordance with the preparationprovisions hereof at least ten (10) days prior to such action shall constitute commercially reasonable notice to Mortgagor. In the event of any conflict between the terms of this Section 22 and terms of Article V of the Credit Agreement, execution and filing the terms of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at Article V of the Default Rate, Credit Agreement shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgagecontrol.
Appears in 1 contract
Samples: Revolving Credit Agreement (CF Industries Holdings, Inc.)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word “Equipment” are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a “fixture filing” within the meaning of Sections 9-334 and 9-502 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after reasonable request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Trust Property is located. If an Event of New YorkDefault shall occur and be continuing under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). Notwithstanding If Beneficiary shall elect to proceed under the filing Code, then ten days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Beneficiary’s request, Grantor shall assemble the personal property and make it available to Beneficiary at a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Certain portions of the Trust Property are or will become “fixtures” (as that term is defined in the Code) on the Land, and this Deed of Trust, upon being filed for record in the real estate records of the county wherein such fixtures are situated, shall operate also as a financing statement covering any filed as a fixture filing in accordance with the applicable provisions of said Code upon such portions of the Mortgaged Trust Property that are or become fixtures. The addresses of the Grantor, as debtor, and Beneficiary, as secured party, are set forth in the records normally pertaining first page of this Deed of Trust.
(c) The real property to personal propertywhich the fixtures relate is described in Schedule A and Schedule B, all if applicable, attached hereto. The record owner of the Mortgaged Property, for all purposes Owned Land is described in Schedule A and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part record owner of the Real Estate whether or not any such item Leased Land, if applicable, is physically attached to described on Schedule B. The name, type of organization and jurisdiction of organization of the Real Estate or serial numbers debtor for purposes of this financing statement are used the name, type of organization and jurisdiction of organization of the Grantor set forth in the first paragraph of this Deed of Trust, and the name of the secured party for purposes of this financing statement is the better identification name of certain itemsthe Beneficiary set forth in the first paragraph of this Deed of Trust. The mention in any such financing statement of any mailing address of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Grantor/debtor is the hereby stated intention address of the parties that such mention in protection of Mortgagee Grantor set forth in the event any court shall at any time hold that notice first paragraph of Mortgagee's priority this Deed of interest, to Trust. The mailing address of the Beneficiary/secured party from which information concerning the security interest hereunder may be effective against any third party, including obtained is the federal government and any authority or agency thereof, must be filed address of the Beneficiary set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing Deed of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the UCC (as defined in the Uniform Commercial Code of the State of New YorkYork (the "UCC"). Notwithstanding If an Event of Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, the filing Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At the Mortgagee's request, the Mortgagor shall assemble the personal property and make it available to the Mortgagee at Mortgagees' option a place designated by the Mortgagee which is reasonably convenient to both parties.
(b) The Mortgagor and the Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word "Equipment" are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9a-334 and 9a-502 of the Code; (iii) the Mortgagor is the record owner of the Owned Land; and (iv) the addresses of the Mortgagor and the Mortgagee are used as set forth on the first page of this Mortgage.
(c) The information provided in this paragraph is provided in order that this Mortgage shall comply with the requirements of applicable law for the better identification of certain itemsa mortgage instrument to be filed as a financing statement. The mention in any such financing Mortgagor is the "Debtor" and its name and mailing address are set forth hereinabove. The "Secured Party" is the Mortgagee and its name and mailing address from which information concerning the security interest granted herein may be obtained are as set forth hereinabove. A statement of any describing the portion of the Mortgaged Property shall never comprising of goods or other personal property that may now be construed as or hereafter become fixtures hereby secured is set forth in any way derogating from or impairing this declaration and it the description of the Mortgaged Property contained herein. The Mortgagor is the hereby stated intention record owner of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageMortgaged Property.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of the Uniform Commercial Code (the "CODE") of the State in which the Mortgaged Property is located. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property; or in accordance with Mortgagee's rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; (v) Mortgagor's federal tax identification number is 00-0000000 and (vi) Mortgagee's federal tax identification number is 00-0000000. In addition, for purposes of Article 9 of the Uniform Commercial Code Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of the State of New York. Notwithstanding the filing of a financing statement this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or more separate security agreements, in form satisfactory to Mortgagee in its reasonable discretion, covering all or any part of the Mortgaged Property in the records normally pertaining to personal propertyand will further execute, all of the Mortgaged Propertyacknowledge and deliver, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Mortgage, Assignment of Rent & Security Agreement (Day International Group Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code of the State of New Yorkin which the Mortgaged Property is located (the “Code”). Notwithstanding the filing of Accordingly, Mortgagor hereby grants to Mortgagee a financing statement covering any security interest in that portion of the Mortgaged Property that constitutes personal property pursuant to the Code. If an Event of Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee, acting at the records normally pertaining direction of the Majority Holders, shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to personal property, a secured party by the Code with respect to all or any portion of the Mortgaged PropertyProperty which is personal property (including, for all purposes without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in all proceedingsaccordance with Mortgagee’s rights, legal or equitablepowers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word “Equipment” are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of Ind. Code 26-1-9.1-334, 26-1-9.1-502, and 26-1-9.1-515; (iii) Mortgagor is the record owner of the Owned Land; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor agrees that this instrument, or a reproduction thereof, may be filed in the real estate records or other appropriate index as a financing statement for any of the items specified above (including fixtures) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration Property, and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to make any such filings Mortgagee, acting at the direction of the Majority Holders, deems necessary or proper. Mortgagor’s execution of this Mortgage constitutes an authentication pursuant to the Code of the security agreement contained herein, thereby authorizing Mortgagee to file and record such financing statements, amendments and other UCC forms as may be necessary or appropriate to establish and maintain the priority of its lien and security interests created under this Mortgage. Any reproduction of this instrument or of any other security agreement or financing statement (meeting the requirements of the Code) will be sufficient as a financing statement. Mortgagor agrees to execute and deliver to Mortgagee upon request, any financing statements (other than financing statements such as those currently prescribed by the Code, which are not required to be executed by the debtor or secured party), as well as extensions, renewals and continuation statements which amendments thereof, and reproductions of this instrument in such form as may be required by law or reasonably required by Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it a security interest in the Equipment with respect to those items. Mortgagor will pay all costs of filing such financing statements and Personalty covered by this Mortgageany extensions, renewals, amendments and releases thereof, and Borrower shall will pay all reasonable costs and expenses of any expenses incurred by record searches for financing statements Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgagereasonably require.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Beneficiary’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then 10 days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include reasonable, out-of-pocket attorneys’ fees and legal expenses. At Beneficiary’s request, during the continuance of an Event of Default, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties (subject to the terms of any documentation governing any Permitted Receivables Transaction).
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word “Equipment” are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Deed of Trust upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of any Sections 9a-334 and 9a-502 of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Code; (iii) Grantor is the hereby stated intention record owner of the parties that such mention in protection Owned Land; and (iv) the addresses of Mortgagee in Grantor and Beneficiary are as set forth on the event any court shall at any time hold that notice first page of Mortgagee's priority this Deed of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 1 contract
Samples: Credit Agreement (Hertz Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 the Uniform Commercial Code and other applicable law. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Mortgaged Property which is personal property (including; without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s, rights, powers and remedies with respect to the real property in which event the default provisions of the Uniform Commercial Code shall not apply). If Mortgagee shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement of any filed as a “fixture filing” against all of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is within the hereby stated intention meaning of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Code; (ii) Mortgagor is the record owner of the Real Estate; and Borrower hereby agree that each (iii) information concerning the security interest herein granted may be obtained at the addresses of Debtor (Mortgagor) and Secured Party (Mortgagee) as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute execute, acknowledge and hereby authorizes deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to file Mortgagee, covering all or any part of the Mortgaged Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it create, perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Uniform Commercial Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code of the State of New Yorkin which the Mortgaged Property is located (the “Code”). Notwithstanding the filing of Accordingly, Mortgagor hereby grants to Mortgagee a financing statement covering any security interest in that portion of the Mortgaged Property that constitutes personal property pursuant to the Code. If an Event of Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee, acting at the records normally pertaining direction of the Majority Holders, shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to personal property, a secured party by the Code with respect to all or any portion of the Mortgaged PropertyProperty which is personal property (including, for all purposes without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in all proceedingsaccordance with Mortgagee’s rights, legal or equitablepowers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word “Equipment” are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a “fixture filing” within the meaning of the Code; (iii) The Dayton Power and Light Company is the record owner of the Land; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor agrees that this instrument, or a reproduction thereof, may be filed in the real estate records or other appropriate index as a financing statement for any of the items specified above (including fixtures) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration Property, and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to make any such filings Mortgagee, acting at the direction of the Majority Holders, deems necessary or proper. Mortgagor’s execution of this Mortgage constitutes an authentication pursuant to the Code of the security agreement contained herein, thereby authorizing Mortgagee to file and record such financing statements, amendments and other UCC forms as may be necessary or appropriate to establish and maintain the priority of its lien and security interests created under this Mortgage. Any reproduction of this instrument or of any other security agreement or financing statement (meeting the requirements of the Code) will be sufficient as a financing statement. Mortgagor agrees to execute and deliver to Mortgagee upon request, any financing statements (other than financing statements such as those currently prescribed by the Code, which are not required to be executed by the debtor or secured party), as well as extensions, renewals and continuation statements which amendments thereof, and reproductions of this instrument in such form as may be required by law or reasonably required by Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it a security interest in the Equipment with respect to those items. Mortgagor will pay all costs of filing such financing statements and Personalty covered by this Mortgageany extensions, renewals, amendments and releases thereof, and Borrower shall will pay all reasonable costs and expenses of any expenses incurred by record searches for financing statements Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgagereasonably require.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(to the extent permitted by lawb) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the Code) on the Land, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described on Schedule A attached hereto. The record owner of interestthe Land is described on Schedule A. The name, to be effective against any third partytype of organization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage. Mortgagor’s organizational identification number is 3622292.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that (a) In addition to being a real property mortgage, this Mortgage shall constitute constitutes a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code of the State (the “Code”). If an Enforcement Event shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, the Mortgagee shall have the option, subject to applicable law, of New York. Notwithstanding either (i) proceeding under the filing of Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee’s rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten (10) Business Days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, at Mortgagees' option (holding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and customary legal expenses. At the Mortgagee’s request, the Mortgagor shall assemble the personal property and make it available to the extent permitted Mortgagee at a place designated by lawthe Mortgagee which is reasonably convenient to both parties.
(b) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property are or will become “fixtures” (as that term is defined in the Code) on the Land, and this Mortgage, upon being filed for record in the real estate records of the county wherein such fixtures are situated, shall never be construed operate also as a financing statement filed as a fixture filing in any way derogating from accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that are or impairing this declaration and it become fixtures. The real property to which the fixtures relate is described in Schedule A hereto. The record owner of the real property described in Schedule A hereto is the hereby stated intention Mortgagor. For purposes of Article Nine of the parties that such mention in protection Code, (i) the Mortgagor is the “debtor” and is the type of Mortgagee organization formed in the event any court shall at any time hold that notice jurisdiction of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed organization as set forth in the Uniform Commercial Code records. Mortgagor and Borrower Preamble of this Mortgage, (ii) the organization number assigned debtor by the state in which debtor is organized is [ ], (iii) the Mortgagee is the “secured party,” (iv) information concerning the security interests created hereby agree that each shall execute and hereby authorizes may be obtained from the Mortgagee to file any financing and continuation statements which Mortgagee shall determine in at its sole discretion are necessary or advisable in order to perfect it security interest address set forth in the Equipment and Personalty covered by Preamble of this Mortgage, (v) the Mortgagor’s mailing address is set forth in the Preamble of this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee (vi) this financing statement is to be recorded in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at real property records for the Default Rate, shall be added to county in which the Indebtedness, payable on demand, and shall be secured by this MortgageMortgaged Property is located.
Appears in 1 contract
Samples: Credit Agreement (General Motors Co)
Security Agreement under Uniform Commercial Code. It (a) Mortgaged Property is located. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in an equity, Mortgagee shall have the intention option of either (i) proceeding under the parties hereto that this Mortgage shall constitute Code and exercising such rights and remedies as may be provided to a Security Agreement within secured party by the meaning of Article 9 of the Uniform Commercial Code of the State of New York. Notwithstanding the filing of a financing statement covering with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; and (v) Mortgagor's federal tax identification number is 22-100-0000. Xx addition, for purposes of Article 9 of the Michigan Uniform Commercial Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee in its reasonable discretion, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, Mortgagee shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.reasonably 25 24
Appears in 1 contract
Samples: Mortgage (Telex Communications Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) some of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) as to those fixtures, this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) except as otherwise provided, Mortgagor is the record owner of the Real Estate; and (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to Mortgagee, covering all or any part of the Real Estate whether Mortgaged Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Mortgagee may request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Mortgage and such item is physically attached security instrument. Mortgagor shall from time to the Real Estate or serial numbers are used for the better identification time, on request of certain items. The mention Mortgagee, deliver to Mortgagee an inventory in any such financing statement reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall never fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, then pursuant to the provisions of the Code, Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection right of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageMortgage as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing as set forth above. A photocopy of such statements that this Mortgage may be filed by Mortgageeas a Financing Statement.
(d) All rights, orremedies and obligations granted, if paid by Mortgageecreated or otherwise arising hereunder and all representations, such amounts, together with interest at the Default Rate, warranties and other provisions hereof shall be added construed, and all actions hereunder shall be performed, in a manner consistent with, and subject to the Indebtednessterms and provisions of, payable on demandthe Security Agreement. To the extent that the rights granted hereunder in any item of the Mortgaged Property (other than the Real Estate and other interests which are exclusively real property interests) conflict with any rights granted in the same item of Mortgaged Property under the Security Agreement, and the Security Agreement shall be secured by this Mortgageprevail.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Warren S D Co /Pa/)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 the Uniform Commercial Code and other applicable law. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Mortgagee shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement of any filed as a “fixture filing” against all of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is within the hereby stated intention meaning of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code recordsCode; (ii) Mortgagor is the record owner of the. Mortgagor Real Estate; and Borrower hereby agree that each (iii) information concerning the security interest herein granted may be obtained at the addresses of Debtor (Mortgagor) and Secured Party (Mortgagee) as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute execute, acknowledge and hereby authorizes deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to file Mortgagee, covering all or any part of the Mortgaged Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it create, perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument: Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Uniform Commercial Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 the Uniform Commercial Code and other applicable law. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Mortgaged Property which, is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Mortgagee shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement of any filed as a “fixture filing” against all of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is within the hereby stated intention meaning of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Code; (ii) Mortgagor is the record owner of the Real Estate; and Borrower hereby agree that each (iii) information concerning the security interest herein granted may be obtained at the addresses of Debtor (Mortgagor) and Secured Party (Mortgagee) as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute execute, acknowledge and hereby authorizes deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to file Mortgagee, covering all or any part of the Mortgaged Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it create, perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Uniform Commercial Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement "security agreement" within the meaning of Article 9 of the Uniform Commercial Code in the state in which the Premises are located, as in effect on the date hereof, and Trustor hereby grants to Beneficiary a lien and security interest in the Mortgaged Property that is subject to the Code. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the State option of New York. Notwithstanding either (i) proceeding under the filing of Uniform Commercial Code as in effect from time to time in the state in which the Premises are located (the "CODE") and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) to the extent permitted by applicable law, treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Beneficiary's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Beneficiary shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, attorneys' fees and legal expenses. At Beneficiary's request, Trustor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Trustor and Beneficiary agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word "Equipment" are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 (as enumerated therein) of the Uniform Commercial Code as in effect as of the date hereof in the state in which the Premises are located; (iii) Trustor is the record owner of the Land; and (iv) the addresses of Trustor and Beneficiary are as set forth on the first page of this Mortgage.
(c) Trustor, upon reasonable request by Beneficiary from time to time, shall execute, acknowledge and deliver to Beneficiary one or more separate security agreements, in form reasonably satisfactory to Beneficiary, covering all or any part of the Mortgaged Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Beneficiary may reasonably request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Mortgage and such security instrument. Trustor further agrees to pay to Beneficiary on demand all reasonable costs and expenses incurred by Beneficiary in connection with the preparation, execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements Beneficiary shall never reasonably require. If Trustor shall fail to furnish any financing or continuation statement within 10 days after request by Beneficiary, then pursuant to the provisions of the Code, Trustor hereby authorizes Beneficiary, without the signature of Trustor, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Beneficiary to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageMortgage as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(to the extent permitted by lawb) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the Code) on the Land, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described in Schedule A and Schedule B attached hereto. The record owner of interestthe Owned Land is described in Schedule A and the record owner of the Leased Land is described on Schedule B. The name, to be effective against any third partytype of organization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage. Mortgagor’s organizational identification number is _______________.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement "security agreement" on personal property within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, at Mortgageesholding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' option (fees and legal expenses. In the event of any conflict or inconsistency between the terms of this Mortgage and the terms of the Guarantee and Collateral Agreement with respect to the collateral covered both therein and herein, the Guarantee and Collateral Agreement shall control and govern to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate conflict or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any inconsistency.
(a) Certain portions of the Mortgaged Property shall never be construed are or will become "fixtures" (as that term is defined in any way derogating from or impairing the Code) on the Land, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(b) The real property to which the fixtures relate is described in Exhibit A hereto. The record owner of interestthe real property described in Exhibit A hereto is Mortgagor. The name, to be effective against any third partytype of organization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code 206 21 with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9 313 and 9 402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Credit Agreement (Campfire Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Xxxxxxxxx shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Xxxxxxxxx and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Xxxxxxxxx further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re- filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Xxxxxxxxx, to execute and file any such amountsfinancing and continuation statements. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way impairing the right of Mortgagee to proceed against any personal property encumbered by this Mortgage as real property, together with interest at the Default Rate, shall be added as set forth above.
(d) With respect to the Indebtednessitems of Mortgaged Property which are also encumbered by the Company Security Agreement (other than those items which are exclusively real property interests), payable on demandto the extent that the provisions under this Section conflict with the provisions of the Company Security Agreement, and the provisions of the Company Security Agreement shall be secured by this Mortgageprevail.
Appears in 1 contract
Samples: Intercompany Note (Essex Group Inc)
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto 5.1. The Mortgagor intends that this Mortgage shall constitute a Security Agreement security agreement within the meaning of Article 9 of the Uniform Commercial Code of the State (the "Code") with respect to all of New York. Notwithstanding the filing Mortgagor's right, title and interest in and to the Building Service Equipment and Furnishings as are considered or as shall be determined to be personal property or "fixtures" (as defined in the Code) and all books, records, licenses and certificates of the Mortgagor or relating to the Mortgaged Premises, together with all replacements thereof, substitutions therefor or additions thereto (said property being sometimes hereinafter in this ARTICLE V referred to as the "Personal Property Collateral"), and that a financing statement covering security interest shall attach thereto for the benefit of the Mortgagee to secure the Obligations and all other sums and charges which may become due hereunder, thereunder or under any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain itemsother Loan Documents. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes the Mortgagee to file any financing and continuation statements with respect to the Personal Property Collateral without the signature of the Mortgagor, if permitted by the Code as adopted by the State. In any event the Mortgagor covenants to execute such financing and continuation statements as the Mortgagee may reasonably request. If an Event of Default shall occur and be continuing, the Mortgagee, pursuant to the appropriate provisions of the Code, shall have the option of proceeding as to both real and personal property in accordance with its rights and remedies in respect of real property under this Mortgage and the law of the State, in which event the default provisions of the Code shall not apply. The Mortgagor agrees that, in the event the Mortgagee shall determine in its sole discretion are necessary or advisable in order elect to perfect it security interest in proceed with respect to the Equipment Personal Property Collateral separately from the real property, unless a greater period shall then be mandated by the Code, five (5) days notice of the sale of the Personal Property Collateral shall be reasonable notice. The expenses of retaking, holding, preparing for sale and Personalty covered selling incurred by this Mortgagethe Mortgagee shall be assessed against the Mortgagor and shall include, and Borrower shall pay any but not be limited to, the reasonable legal expenses incurred by Mortgagee. The Mortgagor agrees that it will not remove or permit to be removed from the Mortgaged Premises any of the Personal Property Collateral without the prior written consent of the Mortgagee except as set forth in connection with SECTION 2.
7.2. All replacements, renewals and additions to the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, Personal Property Collateral shall be added and become immediately subject to the Indebtednesssecurity interest of this Mortgage and the provisions of this ARTICLE V. The Mortgagor warrants and represents that all Personal Property Collateral now is free and clear of all liens, payable on demandencumbrances or security interests other than the Permitted Encumbrances, and shall be secured by this Mortgagethat all replacements of the Personal Property Collateral, substitutions therefor or additions thereto, unless the Mortgagee otherwise consents, will be, free and clear of liens, encumbrances or security interests of others.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Acadia Realty Trust)
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that (a) In addition to being a real property mortgage, this Mortgage shall constitute constitutes a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code of the State (the “Code”). If an Enforcement Event shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, the Mortgagee shall have the option, subject to applicable law, of New York. Notwithstanding either (i) proceeding under the filing of Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten (10) Business Days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, at Mortgageesholding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, reasonable attorneys' option (fees and customary legal expenses. At the Mortgagee's request, the Mortgagor shall assemble the personal property and make it available to the extent permitted Mortgagee at a place designated by lawthe Mortgagee which is reasonably convenient to both parties.
(b) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property are or will become “fixtures” (as that term is defined in the Code) on the Land, and this Mortgage, upon being filed for record in the real estate records of the county wherein such fixtures are situated, shall never be construed operate also as a financing statement filed as a fixture filing in any way derogating from accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property that are or impairing this declaration and it become fixtures. The real property to which the fixtures relate is described in Schedule A hereto. The record owner of the real property described in Schedule A hereto is the hereby stated intention Mortgagor. For purposes of Article Nine of the parties that such mention in protection Code, (i) the Mortgagor is the “debtor” and is the type of Mortgagee organization formed in the event any court shall at any time hold that notice jurisdiction of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed organization as set forth in the Uniform Commercial Code records. Mortgagor and Borrower Preamble of this Mortgage, (ii) the organization number assigned debtor by the state in which debtor is organized is [__________], (iii) the Mortgagee is the “secured party,” (iv) information concerning the security interests created hereby agree that each shall execute and hereby authorizes may be obtained from the Mortgagee to file any financing and continuation statements which Mortgagee shall determine in at its sole discretion are necessary or advisable in order to perfect it security interest address set forth in the Equipment and Personalty covered by Preamble of this Mortgage, (v) the Mortgagor's mailing address is set forth in the Preamble of this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee (vi) this financing statement is to be recorded in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at real property records for the Default Rate, shall be added to county in which the Indebtedness, payable on demand, and shall be secured by this MortgageMortgaged Property is located.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the ------------------------------------------------ intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten business days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, the Company shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether or not any such item is physically attached to Estate; and (iv) the Real Estate or serial numbers are used for the better identification addresses of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in as set forth on the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing first page of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgage.
Appears in 1 contract
Samples: Mortgage and Security Agreement (V I Technologies Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State Commonwealth of New YorkPennsylvania. Notwithstanding If an Event of Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, the filing Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Mortgagee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At the Mortgagee's request, the Mortgagor shall assemble the personal property and make it available to the Mortgagee at Mortgagees' option a place designated by the Mortgagee which is reasonably convenient to both parties.
(b) The Mortgagor and the Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9 313 and 9 402 of the Code; (iii) the Mortgagor is the record owner of the Real Estate whether or not any such item is physically attached Estate; and (iv) the addresses of the Mortgagor and the Mortgagee are as set forth on the first page of this Mortgage.
(c) The Mortgagor, upon request by the Mortgagee from time to time, shall execute, acknowledge and deliver to the Real Estate Mortgagee one or serial numbers are used for more separate security agreements, in form reasonably satisfactory to the better identification of certain items. The mention in Mortgagee, covering all or any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as the Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. The Mortgagor further agrees to pay to the Mortgagee on demand all costs and Borrower shall pay any expenses incurred by the Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed the Mortgagee shall reasonably require. If the Mortgagor shall fail to furnish any financing or continuation statement within 10 days after written request by the Mortgagee, orthen pursuant to the provisions of the Code, if paid by the Mortgagor hereby authorizes the Mortgagee, without the signature of the Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of the Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Mortgage (Edison Mission Finance Co)
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto Mortgagor and Mortgagee agree that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of the State of New York. Notwithstanding Jersey (hereinafter in this paragraph referred to as the filing of a financing statement covering "Code") with respect to (i) any and all sums at any time on deposit or held by Mortgagee pursuant to any of the Mortgaged Property provisions of this Mortgage ("Deposits") and (ii) with respect to any goods or property included in the records normally pertaining to personal property, all definition of the term "Mortgaged Property", for all purposes and in all proceedings, legal which goods or equitable, shall property may not be regarded, at Mortgagees' option (deemed to the extent permitted by law) as form a part of the Real Estate whether described in Exhibit A hereto or may not any constitute a "fixture" (within the meaning of Section 9-313 of the Code), and all replacements of such item property, substitutions for such property, additions to such property, and the proceeds thereof (all of said property and the replacements, substitutions, and additions thereto and the proceeds thereof being sometimes hereinafter collectively referred to as the "Collateral"), and that a security interest in and to the Collateral is physically attached hereby granted to Mortgagee, and the Collateral and all of Mortgagor's right, title and interest therein are hereby assigned to Mortgagee, to secure the Indebtedness and Obligations. Upon the occurrence and during the continuance of an Event of Default under this Mortgage, Mortgagee, pursuant to the appropriate provisions of the Code, shall have the option of proceeding with respect to the Collateral as to both real and personal property in accordance with its rights and remedies with respect to the real property, in which event the default provisions of the Code shall not apply. The parties agree that, in the event Mortgagee shall elect to proceed with respect to the Collateral separately from the real property, ten (10) days' notice of the sale of the Collateral shall be reasonable notice. The expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and expenses incurred by Mortgagee. Mortgagor agrees that, without the written consent of Mortgagee, Mortgagor will not remove or permit to be removed from the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating Collateral. Mortgagor shall, from or impairing this declaration and it is the hereby stated intention time to time, on request of Mortgagee, deliver to Mortgagee an inventory of the parties Collateral in reasonable detail. Mortgagor covenants and represents that such mention in protection all Collateral now is, and that all replacements thereof, substitutions therefor or additions thereto, will be, free and clear of Mortgagee liens, encumbrances, or the security interest of others, other than Permitted Liens (as defined in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageCamden Loan Agreement).
Appears in 1 contract
Samples: Mortgage (Cogen Technologies Inc)
Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “UCC”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the UCC and exercising such rights and remedies as may be provided to a financing statement covering secured party by the UCC with respect to all or any portion of the Mortgaged Property in the records normally pertaining to which is personal property (including, without limitation, taking possession of and selling such property, all of the Mortgaged Property, for all purposes and in all proceedings, legal ) or equitable, shall be regarded, at Mortgagees' option (ii) to the extent permitted by applicable law) , treating such property as part real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Real Estate whether or UCC shall not any such item apply). If Mortgagee shall elect to proceed under the UCC, and unless otherwise required by the Security Agreement, then ten (10) days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is physically attached reasonably convenient to the Real Estate or serial numbers are used for the better identification of certain itemsboth parties. The mention in any such financing statement of any • Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the UCC) on the Mortgaged Property, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said UCC upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage. • The real property to which the fixtures relate is described in Exhibit A attached hereto. The name, type of interestorganization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, to be effective against any third party, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage. Mortgagor’s organizational identification number is 2140249.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New YorkArkansas. Notwithstanding If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all costs and expenses of any record searches for financing statements that may be filed Mortgagee shall require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall 21 have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property; or in accordance with Mortgagee's rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; (v) Mortgagor's federal tax identification number is 34-1000000 xxx (vi) Mortgagee's federal tax identification number is 52-100-0000. Xx addition, for purposes of Article 9 of the Uniform Commercial Code Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of the State of New York. Notwithstanding the filing of a financing statement this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or more separate security agreements, in form satisfactory to Mortgagee in its reasonable discretion, covering all or any part of the Mortgaged Property in the records normally pertaining to personal propertyand will further execute, all of the Mortgaged Propertyacknowledge and deliver, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. It is the intention A. Mortgagor hereby grants to Mortgagee a security interest in all of the parties hereto that this Mortgage shall constitute a Security Agreement within Secured Property (including, without limitation, the meaning of Article 9 of Fixtures) and in Mortgagor's present and future "equipment" and "general intangibles" as said quoted terms are defined in the Uniform Commercial Code of the State of New YorkAlabama (the "Code") and Mortgagee shall have, in addition to all rights and remedies provided herein, and in any other agreements made between Mortgagor and Mortgagee, all of the rights and remedies of a "secured creditor" under the Code. To the extent permitted under applicable law, this Mortgage shall be deemed to be a "security agreement" as defined in said Code.
B. Notwithstanding the filing of a financing statement covering any of the Mortgaged mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' Mortgagee's option (legal or equitable, shall be regarded, at Mortgagee's option to the extent permitted by law) ), as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any item of the Mortgaged Property shall never not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection parties. Pursuant to the provisions of Mortgagee in the event any court shall at any time hold that notice Code, Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagee's priority of interestMortgagor, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which if Mortgagee shall determine in its sole discretion discretion, that such are necessary or advisable in order to perfect it its security interest in the Equipment Secured Property and Personalty Fixtures covered by this Mortgage, and Borrower Mortgagor shall pay to Mortgagee, upon demand, any reasonable expenses incurred by Mortgagee in connection with the preparation, execution execution, and filing of such statements that may be filed by Mortgagee.
C. Certain of the Secured Property and Fixtures are or may become fixtures related to the Real Estate, orand with respect thereto this Mortgage shall be effective as a financing statement filed on a fixture filing from the date of its filing in the real estate records of the county wherein the Real Estate is located. For purposes hereof, if paid Mortgagor is the "Debtor" and Mortgagee is the "Secured Party," and the addresses of both are as set forth above. A photographic or other reproduction of this Mortgage shall be sufficient as a financing statement and may be filed as a financing statement with any filing officer as deemed necessary or desirable by Mortgagee. Information concerning the security interest created by this instrument may be obtained from the Mortgagee, such amountsas Secured Party, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageaddress set forth above.
Appears in 1 contract
Samples: First Mortgage and Security Agreement (Intergraph Corp)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "CODE") of the State of New York. Notwithstanding in which the filing of Trust Property is located, and Grantor hereby grants a financing statement covering any of the Mortgaged Property security interest in the records normally pertaining to personal property, all of the Mortgaged Propertypersonal property of Grantor described in the Granting Clauses of this Deed of Trust. If an Event of Default shall occur under this Deed of Trust, for then in addition to having any other right or 273 23 remedy available at law or in equity, Beneficiary shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all purposes or any portion of the Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in all proceedingsaccordance with Beneficiary's rights, legal or equitablepowers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Beneficiary shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Beneficiary's request, during the continuance of an Event of Default, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Grantor is the record owner of the Real Estate whether or not any such item is physically attached to Estate; and (iv) the Real Estate or serial numbers addresses of Grantor and Beneficiary are used for as set forth on the better identification first page of certain items. The mention in any such financing statement this Deed of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this MortgageTrust.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement “security agreement” within the meaning of Article 9 of the Uniform Commercial Code (the “Code”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten (10) Business Days’ notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, and upon reasonable prior written notice delivered to Mortgagor by Mortgagee, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(to the extent permitted by lawb) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined under the Code) on the Land, and this Mortgage, upon being filed for record in any way derogating from or impairing this declaration and it is the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed and indexed as a fixture filing in accordance with the applicable provisions of said Code upon such portions of the Mortgaged Property which are fixtures and any personal property that such mention in protection may now be or hereafter become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described in Schedule A attached hereto. The record owner of interestthe real property described in Schedule A hereto is Xxxxxxxxx. The name, to be effective against any third partytype organization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage.
Appears in 1 contract
Samples: Mortgage (Gannett Co., Inc.)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of the Uniform Commercial Code (the "CODE") of the State in which the Mortgaged Property is located. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property; or in accordance with Mortgagee's rights, powers and remedies with respect to the real property (in which event the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed under the Code, then five days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At Mortgagee's request, during the continuance of an Event of Default, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate; (iv) the mailing addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage; (v) Mortgagor's federal tax identification number is 34-1000000 xxx (vi) Mortgagee's federal tax identification number is 52-1000000. Xx addition, for purposes of Article 9 of the Uniform Commercial Code Code, (i) Mortgagor is the "debtor", (ii) Mortgagee is the "secured party" and (iii) information concerning the security interest created hereby may be obtained from Mortgagee at its address on the first page of the State of New York. Notwithstanding the filing of a financing statement this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or more separate security agreements, in form satisfactory to Mortgagee in its reasonable discretion, covering all or any part of the Mortgaged Property in the records normally pertaining to personal propertyand will further execute, all of the Mortgaged Propertyacknowledge and deliver, for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all reasonable costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
Appears in 1 contract
Samples: Mortgage, Assignment of Rent & Security Agreement (Day International Group Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage Security Deed shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code of as in effect in the State in which the Real Estate is located (the "Code"). If an Event of New York. Notwithstanding Default shall occur and be continuing under this Security Deed, then in addition to having any other right or remedy available at law or in equity, the filing Grantee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with the records normally pertaining Grantee's rights, powers and remedies with respect to personal property, all the real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If the Grantee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten (10) days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Grantee shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At the Grantee's request, the Grantor shall assemble the personal property and make it available to the Grantee at Mortgagees' option a place designated by the Grantee which is reasonably convenient to both parties.
(b) The Grantor and the Grantee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word "Equipment" are or not any such item is physically attached are to become fixtures on the Real Estate or serial numbers Estate; (ii) the Grantor is the record owner of the Owned Land; and (iii) the addresses of the Grantor and the Grantee are used for as set forth on the better identification first page of certain itemsthis Security Deed.
(c) The Grantor is the "Debtor" and its name and mailing address are set forth hereinabove. The mention in any such financing "Secured Party" is the Grantee and its name and mailing address from which information concerning the security interest granted herein may be obtained are as set forth hereinabove. A statement of any describing the portion of the Mortgaged Property shall never comprising of goods or other personal property that may now be construed as or hereafter become fixtures hereby secured is set forth in any way derogating from or impairing this declaration and it the description of the Mortgaged Property contained herein. The Grantor is the hereby stated intention record owner of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby Mortgaged Property.
(d) Grantor authorizes Mortgagee Grantee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary describing the Mortgaged Property, with or advisable in order to perfect it security interest in the Equipment and Personalty covered by this Mortgage, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgagewithout Grantor's signature.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State of New York_________. Notwithstanding Subject to the filing Intercreditor Agreement, if an Event of Default shall occur and be continuing under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then ten days" notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys" fees and legal expenses, subject to the Intercreditor Agreement. Subject to the Intercreditor Agreement, at Mortgagees' option Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part all of the Real Estate whether goods described within the definition of the word "Equipment" are or not any such item is physically attached are to become fixtures on the Real Estate Estate; (ii) this Mortgage upon recording or serial numbers are used for registration in the better identification real estate records of certain items. The mention in any such the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of any Sections 9a-334 and 9a-502 of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it Code; (iii) Mortgagor is the hereby stated intention record owner of the parties that such mention in protection Owned Land; (iv) the addresses of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in as set forth on the Equipment and Personalty covered by first page of this Mortgage, ; and Borrower shall pay any expenses incurred by (v) Mortgagor is the debtor and Mortgagee in connection with is the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageparty.
Appears in 1 contract
Security Agreement under Uniform Commercial Code. (a) It is the ------------------------------------------------ intention of the parties hereto that this Mortgage Deed of Trust shall constitute a Security Agreement A greement within the meaning of Article 9 of the Uniform Commercial Code (the "UCC") of the State in which the Trust Property is located. If an Event of New York. Notwithstanding Default shall occur under this Deed of Trust, then in addition to having any other right or remedy available at law or in equity, Beneficiary shall have the filing option of either (i) proceeding under the UCC and exercising such rights and remedies as may be provided to a financing statement covering secured party by the UCC with respect to all or any portion of the Mortgaged Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyUCC shall not apply). If Beneficiary shall elect to proceed under the UCC, for all purposes and in all proceedings, legal or equitable, then ten Business Days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, attorneys' fees and legal expenses. At Beneficiary's request, Grantor shall assemble the personal property and make it available to Beneficiary at Mortgagees' option a place designated by Beneficiary which is reasonably convenient to both parties.
(b) Grantor and Beneficiary agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Property; (ii) this Deed of Trust upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the UCC; (iii) Grantor is the record owner of the Property; and (iv) the addresses of Grantor and Beneficiary are as set forth in Section 17 of this Deed of Trust.
(c) Grantor, upon request by Beneficiary from time to time, shall execute, acknowledge and deliver to Beneficiary one or more separate security agreements, in form reasonably satisfactory to Beneficiary and consistent with the Credit Documents, covering all or any part of the Real Estate whether Trust Property and will further execute, acknowledge and deliver, or not cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as Beneficiary may reasonably request in order to perfect, preserve, maintain, continue or extend the security interest under and the priority of this Deed of Trust and such security instrument. Grantor further agrees to pay to Beneficiary on demand all reasonable costs and expenses incurred by Beneficiary in connection with the preparation, execution, recording, filing and re-filing of any such item is physically attached document and all reasonable costs and expenses of any record searches for financing statements Beneficiary shall reasonably require; provided, however, that the Grantor shall not be liable for -------- ------- payment of any amount under this Section to the Real Estate extent that (i) the Lessee is responsible for payment of such amount under the Lease, the Participation Agreement or serial numbers are used for any other Credit Document or (ii) the better identification Lessee has not paid such amount to Lessor. If Grantor shall fail to furnish any financing or continuation statement within ten days after request by Beneficiary, then pursuant to the provisions of certain items. The mention in the UCC, Grantor hereby authorizes Beneficiary, without the signature of Grantor, to execute and file any such financing statement and continuation statements. The filing of any of financing or continuation statements in the Mortgaged Property records relating to personal property or chattels shall never not be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention right of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, Beneficiary to be effective proceed against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered personal property encumbered by this MortgageDeed of Trust as real property, and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at the Default Rate, shall be added to the Indebtedness, payable on demand, and shall be secured by this Mortgageas set forth above.
Appears in 1 contract
Samples: Participation Agreement (Paragon Health Network Inc)
Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 the Uniform Commercial Code and other applicable law. If an Event of Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the option of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Mortgagee shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the State of New York. Notwithstanding the filing of a financing statement covering any of the Mortgaged Property in the records normally pertaining to personal property, all of the Mortgaged Property, for all purposes and in all proceedings, legal or equitable, property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) as part this Mortgage upon recording or registration in the real estate records of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such proper office shall constitute a financing statement of any filed as a “fixture filing” against all of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is within the hereby stated intention meaning of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code records. Code; (ii) Mortgagor is the record owner of the Real Estate; and Borrower hereby agree that each (iii) information concerning the security interest herein granted may be obtained at the addresses of Debtor (Mortgagor) and Secured Party (Mortgagee) as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute execute, acknowledge and hereby authorizes deliver to Mortgagee one or more separate security agreements, in form reasonably satisfactory to file Mortgagee, covering all or any part of the Mortgaged Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may reasonably request in order to perfect it create, perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. If Mortgagor shall fail to furnish any financing or continuation statement within 10 days after request by Mortgagee, orthen pursuant to the provisions of the Uniform Commercial Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
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Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Mortgage 5.1. This Trust Deed shall constitute a Security Agreement security agreement and a fixture filing within the meaning of Article 9 of the Uniform Commercial Code of the State of New York. Notwithstanding (the filing of a financing statement covering any of "Code"), and the Mortgaged Property Beneficiary shall be deemed to be the "secured party" (as that term is defined in the records normally pertaining Code). The Trustor hereby grants to personal propertythe Beneficiary, as additional collateral for the obligations under the Note and the other Obligations secured hereby, a security interest in and to all of the Mortgaged Property, for all purposes and in all proceedings, legal Premises which are considered or equitable, as shall be regardeddetermined to be personal property or "fixtures" (as defined in the Code), at Mortgagees' option (including, without limitation, the Building Service Equipment, the Furnishings, the Payments and Intangibles, all books, records, licenses and certificates of the Trustor relating to the extent permitted by law) Mortgaged Premises, together with all replacements thereof, substitutions therefor or additions thereto (said property being sometimes hereinafter referred to as part the "Personal Property"). The Trustor agrees that a security interest shall attach to the Personal Property for the benefit of the Real Estate whether Beneficiary to secure the indebtedness evidenced by the Note and the other Obligations secured by this Trust Deed and all other sums and charges which may become due hereunder, thereunder or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of under any of the Mortgaged Property shall never be construed as in any way derogating from or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, to be effective against any third party, including the federal government and any authority or agency thereof, must be filed in the Uniform Commercial Code recordsother Security Documents. Mortgagor and Borrower hereby agree that each shall execute and The Trustor hereby authorizes Mortgagee the Beneficiary to file any financing and continuation statements with respect to the Personal Property without the signature of the Trustor, if permitted by the Code. In any event the Trustor covenants to execute such financing and continuation statements as the Beneficiary may reasonably request. If an Event of Default shall occur and be continuing, the Beneficiary, pursuant to the appropriate provisions of the Code, shall have the option of proceeding as to both real and personal property in accordance with its rights and remedies in respect of real property under this Trust Deed and the law of the State, in which Mortgagee event the default provisions of the Code shall determine in its sole discretion are necessary or advisable in order to perfect it security interest not apply. The Trustor agrees that, in the Equipment event the Beneficiary shall elect to proceed with respect to the Personal Property separately from the real property, unless a greater period shall then be mandated by the Code, five (5) days notice of the sale of the Personal Property shall be reasonable notice. The expenses of retaking, holding, preparing for sale and Personalty covered selling incurred by this Mortgagethe Beneficiary shall be assessed against the Trustor and shall include, and Borrower shall pay any but not be limited to, the reasonable legal expenses incurred by Mortgagee in connection with Beneficiary. The Trustor agrees that it will not remove or permit to be removed from the preparationMortgaged Premises any of the Personal FRK11626.A05 285741572 01/09/97 KDF:
7.2. All replacements, execution renewals and filing of such statements that may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at additions to the Default Rate, Personal Property shall be added and become immediately subject to the Indebtednesssecurity interest of this Trust Deed and the provisions of this ARTICLE V. The Trustor warrants and represents that all Personal Property now is free and clear of all liens, payable on demandencumbrances or security interests other than the Permitted Encumbrances, and shall be secured by this Mortgagethat all replacements of the Personal Property, substitutions therefor or additions thereto, unless the Beneficiary otherwise consents, will be, free and clear of liens, encumbrances or security interests of others.
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Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement security agreement within the meaning of Article 9 of the Uniform Commercial Code (the “UCC”) of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur and be continuing, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the UCC and exercising such rights and remedies as may be provided to a financing statement covering secured party by the UCC with respect to all or any portion of the Mortgaged Property in the records normally pertaining to which is personal property (including, without limitation, taking possession of and selling such property, all of the Mortgaged Property, for all purposes and in all proceedings, legal ) or equitable, shall be regarded, at Mortgagees' option (ii) to the extent permitted by applicable law) , treating such property as part real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Real Estate whether or UCC shall not any such item apply). If Mortgagee shall elect to proceed under the UCC, and unless otherwise required by the Amended and Restated Security Agreement, then ten (10) days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the personal property and make it available to Mortgagee at a place designated by Mortgagee which is physically attached reasonably convenient to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any both parties.
(b) Certain portions of the Mortgaged Property shall never be construed are or will become “fixtures” (as that term is defined in any way derogating from or impairing the UCC) on the Mortgaged Property, and this declaration and it is Mortgage, upon being filed for record in the hereby stated intention real estate records of the parties county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said UCC upon such portions of the Mortgaged Property that such mention in protection are or become fixtures. The addresses of Mortgagee the Mortgagor, as debtor, and Mortgagee, as secured party, are set forth in the event any court shall at any time hold that notice first page of Mortgagee's priority this Mortgage.
(c) The real property to which the fixtures relate is described in Exhibit A attached hereto. The name, type of interestorganization and jurisdiction of organization of the debtor for purposes of this financing statement are the name, to be effective against any third party, including type of organization and jurisdiction of organization of the federal government and any authority or agency thereof, must be filed Mortgagor set forth in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and continuation statements which Mortgagee shall determine in its sole discretion are necessary or advisable in order to perfect it security interest in the Equipment and Personalty covered by first paragraph of this Mortgage, and Borrower shall pay any expenses incurred by the name of the secured party for purposes of this financing statement is the name of the Mortgagee set forth in connection with the preparation, execution and filing first paragraph of such statements that this Mortgage. The mailing address of the Mortgagor/debtor is the address of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of the Mortgagee/secured party from which information concerning the security interest hereunder may be filed by Mortgagee, or, if paid by Mortgagee, such amounts, together with interest at obtained is the Default Rate, shall be added to address of the Indebtedness, payable on demand, and shall be secured by Mortgagee set forth in the first paragraph of this Mortgage. Mortgagor’s organizational identification number is [ ].
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Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Mortgage shall constitute a Security Agreement within the meaning of Article 9 of the Uniform Commercial Code (the "Code") of the State in which the Mortgaged Property is located. If an Event of New York. Notwithstanding Default shall occur under this Mortgage, then in addition to having any other right or remedy available at law or in equity, Mortgagee shall have the filing option of either (i) proceeding under the Code and exercising such rights and remedies as may be provided to a financing statement covering secured party by the Code with respect to all or any portion of the Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Mortgaged Property in accordance with Mortgagee's rights, powers and remedies with respect to the records normally pertaining to personal property, all real property (in which event the default provisions of the Mortgaged PropertyCode shall not apply). If Mortgagee shall elect to proceed under the Code, for all purposes and in all proceedings, legal or equitable, then 8 days' notice of sale of the personal property shall be regardeddeemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys' fees and legal expenses. At Mortgagee's request, Mortgagor shall assemble the personal property and make it available to Mortgagee at Mortgagees' option a place designated by Mortgagee which is reasonably convenient to both parties.
(b) Mortgagor and Mortgagee agree, to the extent permitted by law, that: (i) all of the goods described within the definition of the word "Equipment" are or are to become fixtures on the Real Estate; (ii) this Mortgage upon recording or registration in the real estate records of the proper office shall constitute a financing statement filed as part a "fixture filing" within the meaning of Sections 9-313 and 9-402 of the Code; (iii) Mortgagor is the record owner of the Real Estate whether Estate; and (iv) the addresses of Mortgagor and Mortgagee are as set forth on the first page of this Mortgage.
(c) Mortgagor, upon request by Mortgagee from time to time, shall execute, acknowledge and deliver to Mortgagee one or not more separate security agreements, in form satisfactory to Mortgagee, covering all or any such item is physically attached to the Real Estate or serial numbers are used for the better identification of certain items. The mention in any such financing statement of any part of the Mortgaged Property shall never be construed as in any way derogating from and will further execute, acknowledge and deliver, or impairing this declaration and it is the hereby stated intention of the parties that such mention in protection of Mortgagee in the event any court shall at any time hold that notice of Mortgagee's priority of interest, cause to be effective against any third partyexecuted, including the federal government acknowledged and any authority or agency thereofdelivered, must be filed in the Uniform Commercial Code records. Mortgagor and Borrower hereby agree that each shall execute and hereby authorizes Mortgagee to file any financing and statement, affidavit, continuation statements which statement or certificate or other document as Mortgagee shall determine in its sole discretion are necessary or advisable may request in order to perfect it perfect, preserve, maintain, continue or extend the security interest in under and the Equipment priority of this Mortgage and Personalty covered by this Mortgage, such security instrument. Mortgagor further agrees to pay to Mortgagee on demand all costs and Borrower shall pay any expenses incurred by Mortgagee in connection with the preparation, execution execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements that may be filed Mortgagee shall reasonably require. Mortgagor shall from time to time, on request of Mortgagee, deliver to Mortgagee an inventory in reasonable detail of any of the Mortgaged Property which constitutes personal property. If Mortgagor shall fail to furnish any financing or continuation statement within ten (10) days after request by Mortgagee, orthen pursuant to the provisions of the Code, if paid by Mortgagor hereby authorizes Mortgagee, without the signature of Mortgagor, to execute and file any such amounts, together with interest at financing and continuation statements. The filing of any financing or continuation statements in the Default Rate, records relating to personal property or chattels shall not be added construed as in any way impairing the right of Mortgagee to the Indebtedness, payable on demand, and shall be secured proceed against any personal property encumbered by this MortgageMortgage as real property, as set forth above.
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