Security; Establishment of Funds. (a) The Loan shall be secured by the Mortgage creating a first lien on the Project, the Assignment of Leases and Rents and the other Loan Documents. Borrower agrees to establish the following reserves with Lender, to be held by Lender as further security for the Loan:
Appears in 3 contracts
Samples: Loan Agreement (Campus Crest Communities, Inc.), Loan Agreement (Campus Crest Communities, Inc.), Loan Agreement (Cedar Income Fund LTD /Md/)
Security; Establishment of Funds. (a) The Loan shall be evidenced by the Note of Borrower, in the original principal amount of the Loan. The Loan shall be secured by the Mortgage creating a first lien (subject to Permitted Encumbrances) on the ProjectProperty, the Assignment of Leases and Rents and the other Loan Documents. As further security for the Loan, Borrower agrees to establish the following reserves with Lender, to be held by Lender as further security for the Loan:
Appears in 2 contracts
Samples: Loan Agreement (Lasalle Hotel Properties), Loan Agreement (Lasalle Hotel Properties)
Security; Establishment of Funds. (a) The Loan shall be evidenced by the Note of Borrower, in the original principal amount of the Loan. The Loan shall be secured by the Mortgage creating a first lien on the ProjectProperties, the Assignment of Leases and Rents and the other Loan Documents. As further security for the Loan, Borrower agrees to establish the following reserves with Lender, to be held by Lender as further security for the Loan:
Appears in 2 contracts
Samples: Loan Agreement (Equity Inns Inc), Loan Agreement (Equity Inns Inc)
Security; Establishment of Funds. (a) The Loan shall be secured by the Mortgage creating a first lien on the Project, the Assignment of Leases and Rents and the other Loan Documents. Borrower agrees to establish the following reserves with Lender, to be held by Lender as further security for the Loan:
Appears in 1 contract
Samples: Loan Agreement (Equity Inns Inc)
