LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "Lien") on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "Transfer" which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 38 contracts
Sources: Memorandum of Understanding, Multifamily Mortgage, Assignment of Rents and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Angeles Income Properties LTD 6)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 36 contracts
Sources: Multifamily Mortgage, Assignment of Rents and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Mortgage, Assignment of Rents and Security Agreement (Behringer Harvard Opportunity REIT II, Inc.), Multifamily Mortgage, Assignment of Rents and Security Agreement (Behringer Harvard Opportunity REIT II, Inc.)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "LienLIEN") on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "TransferTRANSFER" which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 5 contracts
Sources: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Wellsford Real Properties Inc), Multifamily Mortgage, Assignment of Rents and Security Agreement (Sunrise Assisted Living Inc), Multifamily Mortgage, Assignment of Rents and Security Agreement (Sunrise Assisted Living Inc)
LIENS; ENCUMBRANCES. Borrower ▇▇▇▇▇▇▇▇ acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 2 contracts
Sources: Multifamily Mortgage, Assignment of Rents and Security Agreement (NTS Realty Holdings Lp), Multifamily Mortgage, Assignment of Rents and Security Agreement (NTS Realty Holdings Lp)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrumentinstrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 1 contract
Sources: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Maxus Realty Trust Inc.)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ’ which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 1 contract
LIENS; ENCUMBRANCES. Borrower ▇▇▇▇▇▇▇▇ acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "Lien") on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "Transfer" which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 1 contract
Sources: Multifamily Mortgage, Assignment of Rents and Security Agreement (Emeritus Corp\wa\)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of the Bond Mortgage and this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the NoteReimbursement Agreement.
Appears in 1 contract
Sources: Uniform Covenants