Termination of Mortgage. If all of the Obligations secured hereby shall be paid and performed in full, then, and in that event only, all rights under this Mortgage shall terminate and the Mortgaged Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby. Notwithstanding the foregoing, no release of this Mortgage or the lien thereof or assignment of this Mortgage, shall be valid unless executed by Mortgagee.
Appears in 6 contracts
Samples: Mortgage Agreement (Taubman Centers Inc), Mortgage (Taubman Centers Inc), Mortgage, Assignment of Leases and Rents and Security Agreement (Taubman Centers Inc)
Termination of Mortgage. If all of the Obligations secured hereby shall be paid and performed in fullfull and if the requirements under Section 12.06 of the Loan Agreement are satisfied, then, and in that event only, all rights under this Mortgage shall terminate and the Mortgaged Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby. Notwithstanding the foregoing, no release of this Mortgage or the lien thereof or assignment of this Mortgage, shall be valid unless executed by Mortgagee.
Appears in 3 contracts
Samples: Mortgage (Taubman Centers Inc), Mortgage (Taubman Centers Inc), Mortgage (Taubman Centers Inc)
Termination of Mortgage. If all of the Obligations indebtedness secured ------------------------ hereby shall be paid and performed in fullpaid, then, and in that event only, all rights under this Mortgage shall terminate and the Mortgaged Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby. Notwithstanding the foregoing, no release of this Mortgage or the lien thereof or assignment of this Mortgage, shall be valid unless executed by Mortgagee.
Appears in 1 contract
Samples: Mortgage, Assignment of Leases and Rents and Security Agreement (Taubman Centers Inc)
