Common use of Supplemental Mortgage Affidavits Clause in Contracts

Supplemental Mortgage Affidavits. The Liens created by each Mortgage are intended to encumber the Mezzanine Property described therein to the full extent of Borrowers' obligations under the Loan Documents. As of the Closing Date, Borrowers shall have paid all state, county and municipal recording and all other taxes imposed upon the execution and recordation of the Mortgages. Notwithstanding anything contained herein to the contrary, if at any time Lender determines, based on Lender's estimation of market value and applicable law, that Lender is not being afforded the maximum amount of security available from any Mezzanine Property as a direct, or indirect, result of applicable taxes not having been paid with respect to the related Mortgage, Lender may request, and each Borrower agrees that it (i) will execute, acknowledge and deliver to Lender, within a reasonable period of time after Lender's request, supplemental affidavits increasing the amount of Indebtedness for which all applicable taxes have been or are required to be paid under the related Mortgage to an amount determined by Lender, in its reasonable discretion, to be appropriate and (ii) will pay any and all applicable recording, intangible or similar taxes.

Supplemental Mortgage Affidavits. The Liens to be created by each Mortgage are intended to encumber the Mezzanine Property Facility described therein to the full extent of Borrowers' the relevant Borrower's obligations under the Loan Documentssuch Borrower's Note from time to time. As of the Closing Date, Borrowers each Borrower shall have paid all state, county and municipal recording and all other taxes imposed upon the execution and recordation of the Mortgages. Notwithstanding anything contained herein to the contrary, if at any time Lender determines, based on Lender's estimation of market value and applicable law, that Lender is not being afforded the maximum amount of security available from any Mezzanine Property Facility as a direct, or indirect, result of applicable taxes not having been paid with respect to the related Related Mortgage, Lender may request, and each Borrower agrees that it (i) will execute, acknowledge and deliver to Lender, within a reasonable period of time after immediately upon Lender's request, supplemental affidavits increasing the amount of Indebtedness for which all applicable taxes have been or are required to be paid under the related Related Mortgage to an amount determined by Lender, in its reasonable discretion, Lender to be appropriate and (ii) will pay any and all applicable recording, intangible or similar taxes.

Supplemental Mortgage Affidavits. The Liens to be created -------------------------------- by each Mortgage are intended to encumber the Mezzanine Property Facility described therein to the full extent of Borrowers' Borrower's obligations under the Loan Documents. As of the Closing Date, Borrowers Borrower shall have paid all state, county and municipal recording and all other taxes imposed upon the execution and recordation of the Mortgages. Notwithstanding anything contained herein to the contrary, if at any time Lender determines, based on Lender's estimation of market value and applicable law, that Lender is not being afforded the maximum amount of security available from any Mezzanine Property Facility as a direct, or indirect, result of applicable taxes not having been paid with respect to the related Related Mortgage, Lender may request, and each Borrower agrees that it (i) will execute, acknowledge and deliver to Lender, within a reasonable period of time after Lender's request, supplemental affidavits increasing the amount of Indebtedness for which all applicable taxes have been or are required to be paid under the related Related Mortgage to an amount determined by Lender, in its reasonable discretion, to be appropriate and (ii) will pay any and all applicable recording, intangible or similar taxes.

Supplemental Mortgage Affidavits. The Liens created by each Mortgage are intended to encumber the Mezzanine Property described therein to the full extent of Borrowers' obligations under the Loan Documents. As of the Closing Date, Borrowers shall have paid all state, county and municipal recording and all other taxes imposed upon the execution and recordation of the Mortgages. Notwithstanding anything contained herein to the contrary, if at any time Lender determines, based on Lender's estimation of market value and applicable law, that Lender is not being afforded the maximum amount of security available from any Mezzanine Property as a direct, or indirect, result of applicable taxes not having been paid with respect to the related Mortgage, Lender may request, and each Borrower agrees that it (i) will execute, acknowledge and deliver to Lender, within a reasonable period of time after Lender's request, supplemental affidavits increasing the amount of Indebtedness for which all applicable taxes have been or are required to be paid under the related Mortgage to an amount determined by Lender, in its reasonable discretion, to be appropriate and (ii) will pay any and all applicable recording, intangible or similar taxes.