Common use of Grant and Conveyance Clause in Contracts

Grant and Conveyance. For and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower does hereby GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER, PLEDGE and SET OVER unto Lender the Mortgaged Property, subject, however, to the Permitted Encumbrances, TO HAVE AND TO HOLD the Mortgaged Property and all parts, rights, members and appurtenances thereof, to the use, benefit and behoof of Lender and the successors and assigns of Lender, IN FEE SIMPLE forever; and Borrower warrants and covenants that Borrower is lawfully seized and possessed of the Mortgaged Property as aforesaid, and has good right to convey the same subject only to the Permitted Encumbrances, and that Borrower does warrant and shall forever defend the title thereto against the claims of all persons whomsoever, except as to the Permitted Encumbrances.