Common use of Covenants of Title Clause in Contracts

Covenants of Title. The Grantor hereby warrants and represents that the Grantor has good, marketable and indefeasible title to the entire Real Property in fee simple, has absolute unencumbered title to the Personal Property, and has good right and full power to assign, grant, bargain, sell, mortgage, transfer and convey the same. The Grantor further warrants and represents that the Mortgaged Property is free and clear of agreements, covenants, easements, restrictions, liens, Leases and other encumbrances, except (i) those agreements, covenants, easements, restrictions, liens and encumbrances to which this Deed of Trust is expressly subject, whether presently existing, as listed on EXHIBIT C attached hereto and incorporated herein by reference, or which may hereafter be created in accordance with the terms hereof or of the Loan Agreement and (ii) any Lease listed on EXHIBIT B (the matters described in the foregoing clauses (i) and (ii) are collectively referred to herein as the "Permitted Encumbrances"); and the Grantor shall warrant and defend title to the Mortgaged Property against any and all claims and demands of every kind and nature whatsoever. The Beneficiary shall have the right, at its option and at such time or times as the Beneficiary (in its sole and absolute discretion) shall deem necessary or desirable to take whatever action the Beneficiary (in its sole and absolute discretion) may deem necessary or desirable to defend or uphold the lien or the rights of the Beneficiary hereunder or otherwise enforce any obligation secured hereby, including, without limitation, the right to institute appropriate legal proceedings for such purposes, and all costs and expenses reasonably incurred by the Beneficiary in connection therewith (including, without limitation, attorneys' fees and expenses and court costs) shall be a demand obligation of the Grantor to the Beneficiary, and to the extent permitted by applicable law, shall be added to the Obligations and shall be secured by the lien of this Deed of Trust and the other Loan Documents as fully and effectively and with the same priority as every other obligation of the Grantor secured hereby, and if not paid within ten (10) days after demand, shall thereafter (to the extent permitted by applicable law) bear interest at the Advances Rate until the date of payment.

Covenants of Title. The Grantor Mortgagor hereby warrants and represents that the Grantor Mortgagor has good, marketable and indefeasible title to the entire Real Property in fee simple, has absolute unencumbered title to the Personal Property, and has good right and full power to assign, grant, bargain, sell, mortgage, transfer and convey the same. The Grantor Mortgagor further warrants and represents that the Mortgaged Property is free and clear of agreements, covenants, easements, restrictions, liens, Leases and other encumbrances, except (i) those agreements, covenants, easements, restrictions, liens and encumbrances to which this Deed of Trust Mortgage is expressly subject, whether presently existing, as listed on EXHIBIT C D attached hereto and incorporated herein by reference, or which may hereafter be created in accordance with the terms hereof or of the Loan Agreement and (ii) any Lease listed on EXHIBIT B C (the matters described in the foregoing clauses (i) and (ii) are collectively referred to herein as the "Permitted Encumbrances"); and the Grantor Mortgagor shall warrant and defend title to the Mortgaged Property against any and all claims and demands of every kind and nature whatsoever. The Beneficiary Mortgagee shall have the right, at its option and at such time or times as the Beneficiary Mortgagee (in its sole and absolute discretion) shall deem necessary or desirable to take whatever action the Beneficiary Mortgagee (in its sole and absolute discretion) may deem necessary or desirable to defend or uphold the lien or the rights of the Beneficiary Mortgagee hereunder or otherwise enforce any obligation secured hereby, including, without limitation, the right to institute appropriate legal proceedings for such purposes, and all costs and expenses reasonably incurred by the Beneficiary Mortgagee in connection therewith (including, without limitation, attorneys' fees and expenses and court costs) shall be a demand obligation of the Grantor Mortgagor to the BeneficiaryMortgagee, and to the extent permitted by applicable law, shall be added to the Obligations and shall be secured by the lien of this Deed of Trust Mortgage and the other Loan Documents as fully and effectively and with the same priority as every other obligation of the Grantor Mortgagor secured hereby, and if not paid within ten (10) days after demand, shall thereafter (to the extent permitted by applicable law) bear interest at the Advances Rate until the date of payment.

Covenants of Title. The Grantor hereby warrants and represents that the Grantor Mortgagor has good, marketable good and indefeasible title to the entire Real Property Mortgaged Premises in fee simple, has absolute unencumbered title to the Personal Property, simple and has with good right and full power to assign, grant, bargain, sell, mortgage, transfer mortgage and convey the same. The Grantor further warrants and represents that ; the Mortgaged Property is Premises are free and clear of agreements, covenants, easements, restrictions, liens, Leases leases and other encumbrances, except (i) those agreements, covenants, easements, restrictions, liens liens, leases and encumbrances more particularly described in Schedule B, attached hereto, to which this Deed of Trust Mortgage is expressly subject, whether presently existing, as listed on EXHIBIT C attached hereto and incorporated herein by reference, or which may hereafter be created in accordance with the terms hereof or of the Loan Agreement and (ii) any Lease listed on EXHIBIT B (the matters described in the foregoing clauses (i) and (ii) are collectively referred to herein as the "Permitted Encumbrances"); and the Grantor . The Mortgagor shall warrant and defend title to the Mortgaged Property Premises against any and all lawful claims and demands of every kind and nature whatsoever. The Beneficiary Mortgagee shall have the right, at its option and at such time or times as the Beneficiary (it, in its sole and absolute discretion) , shall deem necessary or desirable necessary, to take whatever action the Beneficiary (in its sole and absolute discretion) it may deem necessary or desirable to defend or uphold the lien of this Mortgage or otherwise enforce any of the rights of the Beneficiary Mortgagee hereunder or otherwise enforce any obligation secured hereby, including, without limitation, the right to institute appropriate legal proceedings for such purposes. To keep the property in good order, condition, and repair and to permit Mortgagee to enter upon and inspect the same; to make all costs proper renewals, replacements and expenses reasonably incurred by the Beneficiary in connection therewith (including, without limitation, attorneys' fees and expenses and court costs) shall be a demand obligation additions of the Grantor to the Beneficiary, and to the extent permitted Property; not to permit or suffer any waste thereof; and not to tear down the improvements or permit them to be torn down, without written consent of the Mortgagee. To keep the property insured against loss or damage by fire and such other hazards, casualties and contingencies as may be required from time to time by Mortgagee, such insurance to be written through an agent or broker selected by Mortgagor in such form and in such companies as may be approved by Mortgagee, in amounts necessary to prevent the application of any co-insurance provisions of the applicable lawpolicies up to the full insurable value thereof within the terms of applicable policies but in no event an amount which is less than the aggregate principal balance of the Senior lien and the Loan, if any, outstanding from time to time; to cause a standard mortgagee clause satisfactory to Mortgagee to be attached to such policy or policies providing that all payments thereunder shall be added made to the Obligations and shall be secured by order of the holder of the Senior lien of this Deed of Trust and the other Loan Documents Mortgagee as fully and effectively and with their interests may appear, and, at the same priority as every other obligation request of the Grantor secured herebyMortgagee, to deliver copies of such policy, policies or certificates thereof and if not paid within ten (10) days after demandall renewals thereof to Mortgagee at its place of business, shall thereafter (or at such other place as it may designate in writing. Prior to the extent permitted by applicable law) bear interest at the Advances Rate until the expiration date of paymenteach of said policies of insurance, ▇▇▇▇▇▇▇▇▇ will deliver to Mortgagee copies of renewal policy, policies or certificates thereof marked “premium paid” or accompanied by other evidence of payment satisfactory to Mortgagee. In the event any sum or sums of money are received by Mortgagee by reason of any such insurance as aforesaid, Mortgagee shall apply such monies so received to repair, restoration and replacement of the damaged or destroyed property. To comply promptly with all laws, ordinances and regulations affecting the Property or its use.