Common use of Effect of Mortgage Clause in Contracts

Effect of Mortgage. This Mortgage constitutes a security agreement under the Uniform Commercial Code as adopted in the State of Florida and creates a security interest in favor of Grantee in and to all that property (and the proceeds, accessions and replacements thereof, and the proceeds of any insurance on such property) included in the Mortgaged Property which constitutes fixtures or personal property. Grantor shall execute, deliver, file and refile any financing statements, continuation statements, or other security agreements Grantee may require from time to time to confirm the lien of this Mortgage with respect to such property. If certificates of title are issued with respect to any such property, Grantor will cause the interest of the Grantee to be properly noted thereon. Without limiting the foregoing Grantor hereby irrevocably appoints each Grantee attorney-in-fact for Grantor to execute, deliver and file such instruments for and on behalf of Grantor. Notwithstanding any release of any or all of that property included in the Mortgaged Property which is deemed "real property," any proceedings to foreclose this Mortgage, or its satisfaction of record, the terms hereof shall survive as a security agreement with respect to the security interest created hereby and referred to above until the repayment or satisfaction in full of the obligations of Grantor as are now or hereafter evidenced by the Notes or otherwise secured hereby. Nothing herein shall preclude Grantee from proceeding as to both real and personal property in accordance with Grantee's rights and remedies in respect of real property, as provided in the Uniform Commercial Code as adopted in Florida.

Effect of Mortgage. This Mortgage constitutes a security agreement under the Uniform Commercial Code as adopted in the State of Florida Ohio and creates a security interest in favor of the Grantee in and to all that property (and the proceeds, accessions and replacements thereof, and the proceeds of any insurance on such property) included in the Mortgaged Property which constitutes fixtures or personal property. The Grantor shall execute, deliver, file and refile any financing statements, continuation statements, or other security agreements the Grantee may require from time to time to confirm the lien of this Mortgage with respect to such property. If certificates of title are issued with respect to any such property, the Grantor will cause the interest of the Grantee to be properly noted thereon. Without limiting the foregoing foregoing, the Grantor hereby irrevocably appoints each the Grantee attorney-attorney- in-fact for the Grantor to execute, deliver and file such instruments for and on behalf of the Grantor, but only in the event that the Grantor has failed to execute, deliver, file and refile any such financing statements, continuation statements or other security agreements. Notwithstanding any release of any or all of that property included in the Mortgaged Property which is deemed "“real property," ”, any proceedings to foreclose this Mortgage, or its satisfaction of record, the terms hereof shall survive as a security agreement with respect to the security interest created hereby and referred to above until the repayment or satisfaction in full of the obligations of the Grantor as are now or hereafter evidenced by the Notes Loan Agreement or otherwise secured hereby. Nothing herein shall preclude the Grantee from proceeding as to both real and personal property in accordance with the Grantee's ’ rights and remedies in respect of real property, as provided in the Uniform Commercial Code as adopted in FloridaOhio.