Security for Payment; Loan Documents Sample Clauses
The 'Security for Payment; Loan Documents' clause establishes that the borrower must provide collateral or other forms of security to guarantee repayment of the loan, and outlines the requirement to execute all necessary loan documents. In practice, this means the borrower may need to pledge assets such as real estate, equipment, or receivables, and sign agreements like promissory notes or security agreements to formalize the lender's rights. This clause ensures the lender has legal recourse to recover funds if the borrower defaults, thereby reducing the lender's risk and clarifying the obligations of both parties.
Security for Payment; Loan Documents. This Note is secured by a certain Mortgage, Assignment of Leases and Rents and Security Agreement securing the property commonly known as 1▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ (the “Mortgage”) and the other “Loan Documents” referred to therein. Reference is hereby made to the Mortgage, Security Agreements and the other Loan Documents, which are incorporated herein by this reference as fully and with the same effect as if set forth herein at length.
Security for Payment; Loan Documents. This Note is secured by that certain Mortgage, Assignment of Leases and Rents and Security Agreement, dated as of May 29, 2002, securing the property commonly known as 1▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, as amended by that certain Amended and Restated Mortgage, Assignment of Leases and Rents, and Security Agreement dated September 30, 2003 and recorded as Document #0410732101, that certain Second Amended and Restated Mortgage, Assignment of Leases and Rents, and Security Agreement dated December 31, 2004 and recorded as Document #0501002435, that certain Third Modification to Mortgage recorded on January 10, 2006 as Document #0601043120, and that certain Fourth Modification to Mortgage recorded on January 11, 2007 as Document #0▇▇▇▇▇▇▇▇▇ (collectively, the “Mortgage”), and the other Loan Documents (as defined in the Mortgage). Reference is hereby made to the Mortgage and the other Loan Documents, which are incorporated herein by this reference as fully and with the same effect as if set forth herein at length.