Lien on Real Property. The Obligations shall also be secured by Mortgages upon all Real Property owned by Loan Parties. The Mortgages shall be duly recorded, at Loan Parties’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Property covered thereby. If any Loan Party acquires Real Property hereafter, such Loan Party shall notify Agent and, within 30 days, execute, deliver and record a Mortgage sufficient to create a first priority Lien in favor of Agent on such Real Property, and shall deliver all Related Real Property Documents.
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Sources: Loan, Security and Guaranty Agreement (Transport America, Inc.), Loan, Security and Guaranty Agreement (Transport America, Inc.)