Common use of Note and Mortgage Clause in Contracts

Note and Mortgage. A portion of the purchase price for the Midstream Assets under the Midstream PSA will be, at the Closing, paid pursuant to a promissory note (“Note”), and the Midstream Assets will be subject to a mortgage, deed of trust, security agreement and financing statement (the “Mortgage”); all as more particularly described in the Midstream PSA. As additional collateral for the Note and Mortgage, the Parties specifically acknowledge and agree that the Deep Rights shall be described, covered by and subject to the same terms, conditions and provisions as the Midstream Assets, and that the legal descriptions of the Deep Rights contained in EXHIBIT “A” attached hereto shall also be attached as an exhibit to the Mortgage.