Security Instrument. Borrower will execute the Security Instrument dated of even date with this Loan Agreement. The Security Instrument will be recorded in the applicable land records in the Property Jurisdiction.
Security Instrument. Servicer.......................................................
Security Instrument. The term “Security Instrument” shall mean any ground or underlying lease, mortgage or deed of trust which now or hereafter affects the Project (or any portion thereof), and any renewal, modification, consolidation, replacement or extension thereof.
Security Instrument. Borrower shall comply with all provisions of the Security Instrument encumbering the Property.
Security Instrument. In addition to the protections given to the Note Holder under this Note, the Security Instrument protects the Note Holder from possible losses which might result if I do not keep the promises that I make in this Note. The Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Xxxxxx’s prior written consent, Lender may require immediate payment in full of all sums secured by the Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Xxxxxxxx fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by the Security Instrument without further notice or demand on Borrower.
Security Instrument. If any of the Property is also subject to a valid and enforceable Lien under the Security Instrument and the terms of the Security Instrument are inconsistent with the terms of this Agreement, then, at the option of the Lender, the terms of the Security Instrument shall be controlling with respect to Property that relates to the real property described in the Security Instrument, and the terms of this Agreement shall be controlling in the case of all other Property.
Security Instrument. If Lessor becomes the grantor under a security instrument or a deed of trust securing the payment of a promissory note of Lessee to an approved lender to assist with the financing of a transaction (that will benefit Lessor and Lessee) evidencing a lien on up to 100 acres of the Property (“Security Instrument”), Lessee will pay Lessor an annual fee, due on January 2 of each year, as follows: * January 2, 2012 No fee payable; * January 2, 2013 $800.00 per acre of the Leased Premises under the Security Instrument; * January 2, 2014 $600.00 per acre of the Leased Premises under the Security Instrument; * January 2, 2015 $400.00 per acre of the Leased Premises under the Security Instrument; * January 2, 2016 $200.00 per acre of the Leased Premises under the Security Instrument. (herein called “Security Instrument Payments”). Lessee hereby agrees to have the Security Instrument released on or before January 2, 2016, and Lessee shall deliver to Lessor a release in recordable form that is reasonably acceptable in form and substance to Lessor and thereby relinquishes all rights Lessee’s lender has in the above-referenced 100 acres. Notwithstanding the foregoing, in the event the Security Instrument is released at any time prior to January 2, 2016, Lessee’s obligation to make Security Interest Payments pursuant to this Section 28 shall cease as of the date of such release, provided that if the Security Instrument is released during a partial year, the applicable Security Instrument Payment shall be prorated and paid to Lessor within ten (10) days of the Release of the Security Instrument. Lessee agrees to indemnify and, within five (5) business days after demand by Lessor, reimburse Lessor for all amounts expended or debts incurred by Lessor as a result of Lessor’s undertaking to cure any defaults under the Security Instrument or under the debt secured by the Security Instrument, to protect Lessor’s interests in the Property. On or before April 14, 2012, Lessor shall cause any and all mortgages, liens, pledges, charges, security interests of any kind or character against the Leased Premises in favor of any holder of indebtedness for borrowed money, other than PlainsCapital Bank, (collectively, the “Lessor Lender Encumbrances”) to be (i) unconditionally released; or (ii) expressly subordinated to those mortgages, liens, pledges, charges, security interests of any kind or character against the Leased Premises in favor of PlainsCapital Bank pursuant to the Security Ins...
Security Instrument. Licensee shall furnish and maintain throughout the term of this Agreement, and thereafter until all of the obligations of Licensee have been fully performed, a bond, or other Security Instrument satisfactory in form and content to EMC in substitution therefore, to guarantee the payment of any sums which may become due to EMC or an EMC Agent for Pole Attachment Rental Fees, inspections, inventories, Make Ready Costs, Unauthorized Attachment Fees, for work performed for the benefit of Licensee under this Agreement, including the removal of Attachments upon termination of this Agreement, for any expense that may be incurred by EMC or an EMC Agent because of any Default of Licensee, or for any other expense that is to be borne by Licensee under this Agreement. The amount of said Security Instrument, which amount shall be maintained throughout the term of the Agreement and thereafter until all of the obligations of Licensee have been fully performed, shall be equal to $10,000.00 US, or $25.00 US per Attachment, whichever is larger. The amount of the Security Instrument may, in EMC’S discretion, be adjusted by the change in the Handy Xxxxxxx Index for the South Atlantic Region, Account 364 to account for changes in the costs of owning and maintaining Poles, or if Licensee purchases, acquires, or obtains a controlling interest in additional broadband or other facilities within EMC’s service territory not currently covered by this Agreement which results in a significant increase in the number of Attachments. Any such adjustment shall not exceed the then current rate per Pole per new Attachment. Failure to provide and maintain the aforementioned Security Instrument shall be deemed a Default under this Agreement, in which event EMC shall have the right to pursue any and all remedies set forth in this Agreement and at law or equity. The furnishing of such Security Instrument shall not affect, limit, diminish or otherwise reduce any obligations of Licensee under this Agreement.
Security Instrument. Each Security Instrument is a valid lien upon the applicable Assets and is prior and superior to all other liens and encumbrances thereon except those approved by Lender in writing.
Security Instrument. Signed and acknowledged original deed of trust or mortgage, as required by the Bank, encumbering the real property collateral.
