Common use of Further Assurance of Title Clause in Contracts

Further Assurance of Title. If at any time Lender's legal counsel is of the reasonable opinion that any Advance is not secured or will not be secured by the Loan Documents as a first Lien or first priority security interest on the Property, subject only to the matters in Title Policy, then Borrower shall, within ten (10) days after written notice of such opinion from Lender, do all things and matters reasonably necessary to assure to the reasonable satisfaction of Lender's counsel that any advance previously made hereunder or to be made hereunder is secured or will be secured by the Loan Documents as a first Lien or first priority security interest on the Property, subject to the matters in such title insurance policy, and Lender, at its option, may decline to make further Advances hereunder until Lender has received such assurance, but nothing in this Section shall limit Lender's right to require endorsements extending the effective date of such policy prior to an Advance under each Application for Advance.

Further Assurance of Title. If at any time Lender's legal counsel is of the reasonable opinion that any Advance is not secured or will not be secured by the Loan Documents as a first Lien or first priority security interest on the Property, subject only to the matters in the Title Policy, then Borrower shall, within ten (10) days after written notice of such opinion from Lender, do all things and matters reasonably necessary to assure to the reasonable satisfaction of Lender's counsel that any advance previously made hereunder or to be made hereunder is secured or will be secured by the Loan Documents as a first Lien or first priority security interest on the Property, subject to the matters in such title insurance policy, and Lender, at its option, may decline to make further Advances hereunder until Lender has received such assurance, but nothing in this Section shall limit Lender's right to require endorsements extending the effective date of such policy prior to an Advance under each Application for Advance.

Further Assurance of Title. If at any time Lender's legal counsel is of the reasonable opinion that any Advance is not secured or will or may not be secured by the Loan Documents as a first Lien or first priority security interest on the Property, subject only to the matters in Title Policythe title insurance policy insuring the Loan Documents and approved by Lender, then Borrower shall, within ten (10) days after written notice of such opinion from Lender, do all things and matters reasonably necessary to assure to the reasonable satisfaction of Lender's counsel that any advance previously made hereunder or to be made hereunder is secured or will be secured by the Loan Documents as a first Lien or first priority security interest on the Property, subject to the matters in such title insurance policy, and Lender, at its option, may decline to make further Advances hereunder until Lender has received such assurance, but nothing in this Section shall limit Lender's right to require endorsements extending the effective date of such policy prior to an Advance under each Application for Advance.