Common use of Security Agreement Clause in Contracts

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 11 contracts

Sources: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (Ashford Hospitality Trust Inc), Open End Mortgage, Security Agreement, Financing Statement and Assignment of Rents (Ashford Hospitality Prime, Inc.), Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (Grubb & Ellis Co)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”"COLLATERAL"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (Debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 11 contracts

Sources: Open End Mortgage and Security Agreement (Glimcher Realty Trust), Deed of Trust and Security Agreement (Glimcher Realty Trust), Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Mortgagor by executing and delivering this Security Instrument Mortgage has granted and hereby grants to LenderMortgagee, as security for the Debt, a security interest in the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the UCC Uniform Commercial Code (said portion of the Mortgaged Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 18 the “Collateral”). Mortgagor hereby agrees to execute and deliver to Mortgagee, in form and substance reasonably satisfactory to Mortgagee, such financing statements and such further assurances as Mortgagee may from time to time reasonably consider necessary to create, perfect, and preserve Mortgagee’s security interest herein granted. This Mortgage shall also constitute a “fixture filing” for the purposes of the Uniform Commercial Code as to all or any part of the Mortgaged Property which now or hereafter constitute “fixtures” under the Uniform Commercial Code. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Mortgage. If an Event of Default shall occur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten five (105) days prior to such action, shall constitute commercially reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. It is not In the event of any change in name, identity or structure of any Mortgagor, such Mortgagor shall notify Mortgagee thereof and promptly after Mortgagee’s request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Mortgagee’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Mortgagee shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Mortgagor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Mortgagee shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Mortgagor’s obligations under the Note, this Mortgage and the other Loan Documents. Mortgagor hereby irrevocably appoints Mortgagee as its attorney-in-fact, coupled with an interest upon Mortgagor’s failure to do so within five (5) Business Days after request by Mortgagee, to file with the appropriate public office on its behalf any financing or other statements signed only by Mortgagee, as Mortgagor’s attorney-in-fact, in connection with the Collateral be present at covered by this Mortgage. Notwithstanding the foregoing, Mortgagor shall appear and defend in any disposition thereof. Lender action or proceeding which affects or purports to affect the Mortgaged Property and any interest or right therein, whether such proceeding affects title or any other rights in the Mortgaged Property (and in conjunction therewith, Mortgagor shall have no obligation fully cooperate with Mortgagee in the event Mortgagee is a party to clean-up such action or otherwise prepare the Collateral for dispositionproceeding).

Appears in 8 contracts

Sources: Mortgage (Lightstone Value Plus Real Estate Investment Trust, Inc.), Mortgage (Lightstone Value Plus Real Estate Investment Trust, Inc.), Mortgage (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument Agreement is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and all transfer taxes, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, action shall constitute reasonable notice to Borrower. (b) Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, or, to the extent permitted under the UCC, unsigned, in connection with the Collateral covered by this Agreement. Such financing statements may, at the option of Lender, describe the Collateral as “all assets” or “all personal property” of Borrower. (c) Borrower will furnish to Lender from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Lender may reasonably request, all in reasonable detail. (d) The proceeds powers conferred on Lender hereunder are solely to protect Lender’s interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender Collateral in its discretion shall deem proper. It is not necessary that possession and the Collateral be present at any disposition thereof. accounting for moneys actually received by it hereunder, Lender shall have no obligation duty (and neither Lender nor any of its partners, members, officers, directors, employees or agents shall be responsible to clean-up Borrower for any act or otherwise prepare failure to act) as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not Lender has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. Lender shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral for dispositionin its possession if such Collateral is accorded treatment substantially equal to that which it accords its own property.

Appears in 7 contracts

Sources: Loan and Security Agreement (Ashford Hospitality Trust Inc), Loan and Security Agreement (Ashford Hospitality Trust Inc), Loan and Security Agreement (Morgans Hotel Group Co.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at address of Lender (secured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any disposition thereof. commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall have no obligation from time to clean-up or otherwise prepare the Collateral for dispositiontime require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 6 contracts

Sources: Deed of Trust (TNP Strategic Retail Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both Deed constitutes a real property mortgage, deed security agreement under the applicable Uniform Commercial Code with respect to secure debt or deed of trust, as applicable, the Chattels and a “security agreement” within the meaning such other of the UCCMortgaged Property which is personal property. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property In addition to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to Beneficiary by other applicable law or hereby, Beneficiary shall have all of the rights and remedies with respect to the Chattels and such other personal property as are granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateralapplicable Uniform Commercial Code. Upon Beneficiary's request or demand of Lender following after an Event of Default, Borrower shall, Grantor shall promptly and at its expense, expense assemble the Collateral Chattels and such other personal property and make it the same available to Lender Beneficiary at a convenient place acceptable to LenderBeneficiary. Borrower Grantor, after an Event of Default, shall pay to Lender Beneficiary on demand demand, with interest at the Default Rate, any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral Chattels and such other personal property and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedthereto. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral given Chattels and such other personal property sent to Borrower Grantor in accordance with the provisions hereof at least ten five (105) days prior to such action, action shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateralsuch sale or disposition, or any part thereof, may be applied by Lender Beneficiary to the payment of the Debt indebtedness secured hereby in such priority order and proportions as Lender Beneficiary in its discretion shall deem properappropriate. It is not necessary To the extent Grantor may lawfully do so and without limiting any rights and/or privileges herein granted to Beneficiary, Grantor agrees that Beneficiary and/or Trustee and any successor Trustee may dispose of any or all of the Chattels at the same time and place and after giving the same notices provided in this Deed in connection with a non-judicial foreclosure sale under the terms and conditions set forth in Article II, Section 2.01, or III of this Deed. In this connection, Grantor agrees that the Collateral sale may be present at conducted by Trustee or successor Trustee; that the sale of the real estate and improvements described in this Deed and the Chattels or any disposition part thereof. Lender shall have no obligation , may be sold separately or together; and that in the event the Premises and the Chattels or any part thereof are sold together, Beneficiary will not be obligated to clean-up or otherwise prepare allocate the Collateral for dispositionconsideration received as between the Premises and the Chattels.

Appears in 4 contracts

Sources: Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc), Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc), Purchase Money Deed of Trust (Apple Suites Inc)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Trust Property. Borrower by executing and delivering this Security Instrument Deed of Trust has granted and hereby grants to LenderLender and Trustee, as security for the Debt, a security interest in the Trust Property to the full extent that the Trust Property may be subject to the UCC Uniform Commercial Code (said portion of the Trust Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 paragraph the “Collateral”"COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. (b) If an Event of Default shall occur, LenderLender and Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender or Trustee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Defaultor Trustee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender and Trustee at a convenient place acceptable to Lender. Borrower shall pay to Lender and Trustee on demand any and all expenses, including reasonable legal expenses attorneys' fees and attorneys’ feesdisbursements, incurred or paid by Lender and Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender and Trustee with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of Borrower, Borrower shall notify Lender and Trustee thereof and promptly after request shall execute (if necessary), file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Lender's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute (if necessary), file and record such Uniform Commercial Code forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's obligations under the Note, this Deed of Trust and any of the other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Deed of Trust.

Appears in 3 contracts

Sources: Deed of Trust (Maguire Properties Inc), Deed of Trust (Maguire Properties Inc), Deed of Trust (Maguire Properties Inc)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Borrower hereby grants to Lender, as security for the DebtObligations, a security interest in the Fixtures, the Equipment, the Personal Property and the other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses attorneys' fees and attorneys’ feescosts, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Lodging Fund REIT III, Inc.), Deed of Trust, Assignment of Leases and Rents and Security Agreement (Lodging Fund REIT III, Inc.), Guarantor Deed of Trust, Assignment of Leases and Rents, Security Agreement and Guaranty (Horizon Group Properties Inc)

Security Agreement. (a) (i) This Security Instrument is Mortgage constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement", within the meaning of the UCC. The Uniform Commercial Code, and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Mortgagor by executing and delivering this Security Instrument Mortgage has granted to LenderMortgagee, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). Mortgaged Property, including, without limitation, FF&E. If an Event of Default shall occur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral FF&E or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower FF&E. Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, expenses (including reasonable legal expenses and attorneys' fees, ) actually incurred or paid by Lender Mortgagee in protecting its interest in the Collateral FF&E and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. FF&E. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given FF&E sent to Borrower Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to BorrowerMortgagor (except in the case of FF&E which is perishable or is of a type customarily sold on a recognized market, in which case such seven (7) business days' notice shall not be required), and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by Mortgagor within five (5) days after receipt by Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralFF&E, or any part thereof, may be applied by Lender Mortgagee to the payment of the Debt in such order, priority and proportions as Lender Mortgagee in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Brandywine Realty Trust), Mortgage (Brandywine Realty Trust), Credit Agreement (Brandywine Realty Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Mortgagor hereby grants to LenderMortgagee, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, or shall cause ESBC to, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. It The principal place of business of Mortgagor (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Empire State Realty Trust, Inc.), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Empire State Realty Trust, Inc.), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Empire State Building Associates L.L.C.)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”"COLLATERAL"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereofaddress of Lender (secured party) is as set forth on page one hereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionBorrower's organizational ID no. is _________.

Appears in 3 contracts

Sources: Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc), Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc), Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (Debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Mortgagor hereby grants to LenderMortgagee, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. It The principal place of business of Mortgagor (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.), Mortgage Agreement (KBS Real Estate Investment Trust, Inc.), Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument Agreement is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and all transfer taxes, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, action shall constitute reasonable notice to Borrower. (b) Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, or, to the extent permitted under the UCC, unsigned, in connection with the Collateral covered by this Agreement. (c) Borrower will furnish to Lender from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Lender may reasonably request, all in reasonable detail. (d) The powers conferred on Lender hereunder are solely to protect Lender’s interest in the Collateral and shall not impose any duty upon it to exercise any such powers. The proceeds Except for the safe custody of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender Collateral in its discretion shall deem proper. It is not necessary that possession and the Collateral be present at any disposition thereof. accounting for moneys actually received by it hereunder, Lender shall have no obligation duty (and neither Lender nor any of its officers, directors, employees or agents shall be responsible to clean-up Borrower for any act or otherwise prepare failure to act) as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not Lender has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. Lender shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral for dispositionin its possession if such Collateral is accorded treatment substantially equal to that which it accords its own property.

Appears in 3 contracts

Sources: Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.)

Security Agreement. (a) (i) This Security Instrument is both The Company’s obligations to the Holders under this Note are secured by a real property mortgage, deed to secure debt or deed of trust, as applicable, lien on and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in certain assets of Group and Operating (including, without limitation, the Property equipment acquired with the proceeds of this Note), all as more particularly described in that certain Security Agreement dated of even date herewith made by each of Group and Operating for the benefit of the Holders (the “Security Agreement”). Each Holder of any Notes, by its acceptance thereof, consents and agrees to the full extent that terms of the Property Security Agreement as the same may be subject in effect from time to time in accordance with its terms and directs EarthLink (or its assignee), as collateral agent (the UCC (said portion “Collateral Agent”), to enter into the Security Agreement and to perform its obligations and exercise its rights thereunder in accordance therewith. The Collateral Agent shall have all of the Property so subject to powers and duties of the UCC being called Secured Party (as defined in the Security Agreement) under the Security Agreement and shall exercise such powers and duties on its own behalf and on behalf of the other Holders. It is expressly understood and agreed that no Holder other than the Collateral Agent shall have any rights or duties under the Security Agreement except as provided in this Section 18.14 the “Collateral”). If an Event of Default shall occur7; provided, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of however that the Collateral or Agent shall take any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder action with respect to the CollateralSecurity Agreement as is directed in writing by a majority of the Holders of outstanding aggregate principal amount of the Notes. Any disposition pursuant In no event shall the Collateral Agent be liable to any other Holder for any action taken, or for the failure to take any action, as the Collateral Agent, except for such actions or inactions constituting gross negligence or willful misconduct. If at any time EarthLink ceases to hold the greatest percentage of the outstanding aggregate principal amount of the Notes, then EarthLink (or any assignee), with the prior written consent of the Company, not to be unreasonably withheld, shall be entitled, but shall not be required, to assign its rights to act as Collateral Agent to the UCC of so much Holder of the Collateral as may constitute personal property greatest percentage of the outstanding aggregate principal amount of the Notes. Such assignment shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in effective upon acceptance by such Holder and such Holder shall become the county where “Collateral Agent” for all purposes under this Note and the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionSecurity Agreement.

Appears in 3 contracts

Sources: Purchase Agreement (Covad Communications Group Inc), Convertible Note (Earthlink Inc), Senior Secured Convertible Note (Covad Communications Group Inc)

Security Agreement. (a) (i) This Security Instrument is Mortgage constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement”, within the meaning of the UCC. The Uniform Commercial Code, and the Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument Mortgage, the Mortgagor has granted to Lender, the Lender as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”)Mortgaged Property. If an Event of Default shall occuroccurs, the Lender, in addition to any other rights and remedies which it they may havehave and subject to the rights and remedies of other lenders in connection with the Existing Mortgages, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as the Lender may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of the Lender following an Event and subject to the rights and remedies of Defaultother lenders in connection with the Existing Mortgages, Borrower shall, the Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to the Lender at a convenient place acceptable to the Lender. Borrower The Mortgagor shall pay to the Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees (including in-house counsel fees), incurred or paid by the Lender in protecting its their and other Secured Parties’ interest in the Collateral Mortgaged Property and in enforcing its and other Secured Parties’ rights hereunder under this Mortgage with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedMortgaged Property. Any notice of sale, disposition or other intended action by the Lender with respect to the Collateral given personal property comprising the Mortgaged Property which is sent to Borrower the Mortgagor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrowerthe Mortgagor. The proceeds of any disposition of the CollateralMortgaged Property, or any part thereof, may be applied by the Lender to the payment of the Debt as provided in the Purchase Agreement, subject to the rights and remedies of other lenders in connection with the Existing Mortgages. Without in any way limiting the generality of the immediately preceding paragraph or of the definition of Mortgaged Property, this Mortgage constitutes a fixture filing under Section 9-502 of the Uniform Commercial Code. For such priority purpose: (a) the “debtor” is Mortgagor and proportions as Lender its address is the address given for it in its discretion shall deem proper. It the initial paragraph of this Mortgage; (b) the “secured party” is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation Lender, and their address for the purpose of obtaining information is the address given for it in the initial paragraph of this Mortgage; (c) the real estate to clean-up which the Fixtures are or otherwise prepare are to become attached is the Collateral for dispositionMortgagor’s interest in the Premises described on SCHEDULE A hereto; and (d) the record owner of such real estate is the Mortgagor.

Appears in 2 contracts

Sources: Mortgage and Security Agreement (Avalon GloboCare Corp.), Mortgage and Security Agreement (Avalon GloboCare Corp.)

Security Agreement. 2.12.1 This Deed of Trust shall also be a security agreement between Trustor and Beneficiary covering that portion of the Mortgaged Property that constitutes personal property or fixtures (ahereinafter collectively called “UCC Collateral”) governed by the Nevada Uniform Commercial Code (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicablethe “UCC”), and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as further security for the Debtpayment and performance of the Secured Obligations, Trustor hereby grants to Beneficiary a security interest in such portion of the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the UCC. In addition to Beneficiary’s other rights hereunder, Beneficiary shall have all rights of a secured party under the UCC. Trustor hereby authorizes the filing of all financing statements and such further assurances that may be reasonably required by Beneficiary to establish, create, perfect (to the extent the same can be achieved by the filing of a financing statement) and maintain the validity and priority of Beneficiary’s security interests, and Trustor shall bear all reasonable costs thereof, including all UCC (said portion searches. Except as otherwise provided in the Credit Documents, if Beneficiary should dispose of any of the Mortgaged Property so subject comprising the UCC Collateral pursuant to the UCC being called UCC, ten (10) Days’ prior written notice by Beneficiary to Trustor shall be deemed to be reasonable notice; provided, however, Beneficiary may dispose of such property in accordance with the foreclosure procedures of this Section 18.14 Deed of Trust in lieu of proceeding under the “Collateral”)UCC. If Beneficiary may from time to time execute, deliver and/or file at Trustor’s expense, all continuation statements, termination statements, amendments, partial releases, or other instruments relating to all financing statements by and between Trustor and Beneficiary. Except as otherwise provided in the Credit Documents, if an Event of Default shall occuroccur and is continuing, Lender(a) Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demanddemand to the extent permitted by Governmental Rule, any and all rights and remedies granted to a secured party upon default under the UCC, UCC including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon such UCC Collateral and (b) upon request or demand of Lender following an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the UCC Collateral and make it available to Lender Beneficiary at a convenient place reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, fees and disbursements incurred or paid by Lender Beneficiary in protecting its the interest in the UCC Collateral and in enforcing its the rights hereunder with respect to the such UCC Collateral. Any disposition . 2.12.2 This Deed of Trust shall constitute a fixture filing pursuant to NRS Section 104.9502, as amended and recodified from time to time. Some or all of the UCC of so much Collateral may be or become a fixture in which Beneficiary has a security interest under the security agreement set forth in Section 2.12.1 above (the “Security Agreement”). However, nothing herein shall, or shall be deemed to, create any lien or interest in favor of the Trustee in any UCC Collateral as may constitute personal property which is not a fixture. The rights, remedies and interests of Beneficiary under this Deed of Trust and the Security Agreement are independent and cumulative, and there shall be considered commercially reasonable if made pursuant no merger of any lien hereunder with any security interest created by the Security Agreement. Beneficiary may elect to a public sale which is advertised at least twice exercise or enforce any of its rights, remedies or interests under either or both this Deed of Trust or the Security Agreement as Beneficiary may from time to time deem appropriate. 2.12.3 Notwithstanding any other provision hereof, Beneficiary shall not be deemed to have accepted any property other than cash in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice satisfaction of saleany obligation of Trustor to Beneficiary unless Trustor shall make an express written election of said remedy under NRS Section 104.9620, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrowerapplicable law. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary Trustor agrees that the Collateral be present at any disposition thereof. Lender Beneficiary shall have no obligation to clean-up process or otherwise prepare the any UCC Collateral for sale or other disposition.

Appears in 2 contracts

Sources: Credit Agreement (Fulcrum Bioenergy Inc), Credit Agreement (Fulcrum Bioenergy Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted and hereby grants to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 paragraph 29 the "Collateral"). If an Event of Default shall occur, LenderLender and Trustee, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Defaultor Trustee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender and Trustee at a convenient place acceptable to Lender. Borrower shall pay to Lender and Trustee on demand any and all reasonable expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ and Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender or Trustee with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten five (105) days prior to such action, shall constitute commercially reasonable notice to BorrowerBorrower unless otherwise required by law. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Investors First Staged Equity L P), Deed of Trust, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Investors First Staged Equity L P)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Trustor by executing and delivering this Security Instrument Deed of Trust has granted and hereby grants to LenderBeneficiary and Trustee, as security for the Debt, a security interest in the Trust Property to the full extent that the Trust Property may be subject to the UCC Uniform Commercial Code (said portion of the Trust Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 paragraph the “Collateral”"COLLATERAL"). Trustor hereby agrees with Beneficiary to execute and deliver to Beneficiary, in form and substance satisfactory to Beneficiary, such financing statements and such further assurances as Beneficiary may from time to time, reasonably consider necessary to create, perfect, and preserve Beneficiary's security interest herein granted. This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. (b) If an Event of Default shall occur, LenderBeneficiary and Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary or Trustee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultBeneficiary or Trustee, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary and Trustee at a convenient place acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary and Trustee on demand any and all expenses, including reasonable legal expenses attorneys' fees and attorneys’ feesdisbursements, incurred or paid by Lender Beneficiary and Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Beneficiary and Trustee with respect to the Collateral given sent to Borrower Trustor in accordance with the provisions hereof at least ten five (105) days prior to such action, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of any Trustor, such Trustor shall notify Beneficiary and Trustee thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Beneficiary's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Trustor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Note, this Deed of Trust and any of the other Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Deed of Trust.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (First Potomac Realty Trust), Deed of Trust, Assignment of Leases and Rents and Security Agreement (First Potomac Realty Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at address of Lender (secured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any disposition thereof. commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall have no obligation from time to clean-up or otherwise prepare the Collateral for dispositiontime require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, Deed of Trust (TNP Strategic Retail Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Trustee, in trust for the benefit of Lender, as security for the DebtObligations (hereinafter defined), a security interest in all of Borrower’s estate, right, title and interest in and to the Fixtures, the Equipment and the Personal Property and other property constituting the Property (including, without limitation, the Leases), whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (all of Borrower’s estate, right, title and interest in and to said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (Debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Inland Real Estate Income Trust, Inc.), Deed of Trust, Assignment of Leases and Rents and Security Agreement (Inland Real Estate Income Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Mortgagor by executing and delivering this Security Instrument Mortgage has granted and hereby grants to LenderMortgagee, as security for the Debt, a security interest in the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the UCC Uniform Commercial Code (said portion of the Mortgaged Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 paragraph 29 the "Collateral"). If an Event of Default shall occur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all reasonable expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten five (105) days prior to such action, shall constitute commercially reasonable notice to BorrowerMortgagor unless otherwise required by law. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: First Mortgage and Security Agreement (Century Properties Fund Xvi), First Mortgage and Security Agreement (Century Properties Fund Xii)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property, and Mortgagor hereby grants to Lender a security interest in all portions of the Property constituting personal property or fixtures under the UCC. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Mortgagor by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, to the extent allowed by Legal Requirements. the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower Mortgagor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Mortgage and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Mortgage and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (Debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Open End Mortgage and Security Agreement (Glimcher Realty Trust), Open End Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument is both To the extent the Mortgaged Property consists of UCC Collateral or items of personal property which are Fixtures under applicable Laws, this Mortgage shall also be construed as a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of agreement under the UCC. The Property includes both real Mortgagor, in order to secure the due and personal property punctual payment and all other rights performance of the Obligations, hereby grants to Mortgagee for its benefit and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debtbenefit of the Secured Parties, a security interest in the Property and to the full extent that the Property may be subject to the such UCC Collateral and Fixtures (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”excluding therefrom Excluded Property). If an Event Upon and during the continuance of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shallthe Mortgagee shall be entitled with respect to the UCC Collateral and Fixtures, to exercise all remedies hereunder or any other Loan Document or available under the UCC with respect thereto and all other remedies available under applicable law. Without limiting the foregoing, the UCC Collateral and Fixtures, may, at its expensethe Mortgagee’s option, (i) be sold hereunder together with any sale of any portion of the Mortgaged Property or otherwise, (ii) be sold separately pursuant to the UCC, or (iii) be dealt with by the Mortgagee in any other manner permitted under applicable Laws. The Mortgagee may require the Mortgagor to assemble the UCC Collateral and Fixtures, and make it available to Lender the Mortgagee at a convenient place acceptable to Lenderbe designated by the Mortgagee. Borrower shall pay to Lender on demand any The Mortgagor acknowledges and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any agrees that a disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower such collateral in accordance with the provisions hereof at least Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof; provided, however, that the Mortgagee shall give the Mortgagor prior notice of the time and place of any intended disposition not less than the greater of (x) such notice as may be required by any other Loan Document, (y) applicable Laws or (z) ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositiondays.

Appears in 2 contracts

Sources: Credit Agreement (Valvoline Inc), Credit Agreement (Ashland Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted and hereby grants to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said such portion of the Property so subject to the UCC being called in this Section 18.14 paragraph the “Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and disbursements, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of ▇▇▇▇▇▇▇▇, Borrower shall notify Lender thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of ▇▇▇▇▇▇’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by ▇▇▇▇▇▇, as secured party, in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Security Instrument.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, Security Instrument and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted and hereby grants to LenderMortgagee, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said such portion of the Property so subject to the UCC being called in this Section 18.14 paragraph the “Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occuroccur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand During the continuance of Lender following an Event of Default, upon request or demand of Mortgagee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place in New York reasonably acceptable to LenderMortgagee. Borrower shall pay to Lender on Mortgagee within five (5) Business Days of promptly following written demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and disbursements, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to (but excluding special, punitive, or consequential damages, unless asserted against Borrower by a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedthird party). Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of Borrower, Borrower shall notify Mortgagee thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Mortgagee’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Mortgagee shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Mortgagee reasonably shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations or decrease Borrower’s rights under the Loan Documents. Borrower hereby irrevocably appoints Mortgagee as its attorney‑in‑fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements naming Mortgagee, as secured party, and Borrower, as debtor, in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Security Instrument.

Appears in 2 contracts

Sources: Senior Loan Consolidated, Amended and Restated Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Strategic Opportunity REIT, Inc.), Building Loan Consolidated, Amended and Restated Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Strategic Opportunity REIT, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Pebblebrook Hotel Trust), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Pebblebrook Hotel Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a "security agreement" within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the "Collateral"). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s 's sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Borrowing Agreement (U Haul International Inc), Loan Agreement (U Haul International Inc)

Security Agreement. (a) (i) This Security Instrument is both Lease constitutes a real property mortgage, deed security agreement pursuant to secure debt or deed of trustand in accordance with the UCC covering all Property Collateral and Accounts Collateral, as applicablewell as the Authorization Collateral and any other property in or against which Landlord is granted a security interest or lien by the terms of this Lease (collectively, the “Lease Collateral”), and a “such security agreement” within , and the meaning security interests and liens created in this Lease, shall survive the expiration or earlier termination of this Lease. Tenant hereby authorizes Landlord to file such financing statements, continuation statements and other documents as may be necessary or desirable to perfect or continue the perfection of Landlord’s security interests and liens in the Lease Collateral pursuant to the UCC. The Property includes both real In addition, if required by Landlord at any time during the Term, Tenant shall execute and personal property deliver to Landlord, in form reasonably satisfactory to Landlord, additional security agreements, financing statements, fixture filings and all such other rights documents as Landlord may reasonably require to perfect or continue the perfection of Landlord’s security interests and interests, whether tangible or intangible in nature, of Borrower liens in the PropertyLease Collateral. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on Upon the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion occurrence of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default or in connection with an Operational Transfer, Landlord shall occur, Lender, in addition be entitled to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted available to a secured party upon default under the UCC, including, without limiting or available to a landlord under the generality laws of the foregoingState(s) where the applicable Leased Property(ies) is (are) located, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Lease Collateral. Any disposition pursuant , including the right to sell the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a same at public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of or private sale, disposition or other intended action by Lender and, in connection with respect to any such sale, Tenant agrees that the Collateral given to Borrower in accordance with the provisions hereof at least giving of ten (10) days prior to such actiondays’ notice by Landlord, shall constitute reasonable notice to Borrower. The proceeds designating the time and place of any disposition public sale of the any Lease Collateral, or the time after which any part private sale or other intended disposition of any Lease Collateral is to be made, shall be deemed to be reasonable notice thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at Tenant waives any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionother notice with respect thereto.

Appears in 2 contracts

Sources: Master Lease Agreement (Emeritus Corp\wa\), Master Lease Agreement (Emeritus Corp\wa\)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both Mortgage shall constitute a real property mortgage, deed to secure debt or deed of trust, security agreement as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower defined in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest Uniform Commercial Code (“Code”) in the Property to items described in the full extent that the Property may be subject to the UCC Granting Clauses of this Mortgage (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event Any Collateral installed in or used in the Premises are to be used by the Borrower solely for Borrower’s business purposes or as the equipment and fixtures leased or furnished by the Borrower, as landlord, to tenants of Default shall occur, Lender, in addition the Premises and such Collateral will be kept at the buildings on the Premises and will not be removed therefrom without the consent of the Lender and may be affixed to such buildings but will not be affixed to any other rights real estate. The remedies of the Lender hereunder are cumulative and separate, and the exercise of any one or more of the remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default provided for herein or under the UCC, including, without limiting the generality Uniform Commercial Code shall not be construed as a waiver of any of the foregoing, other rights of the right Lender including having any Collateral deemed part of the realty upon any foreclosure thereof. If notice to take possession any party of the intended disposition of the Collateral or any part thereofis required by law in a particular instance, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property notice shall be considered deemed commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, intended disposition and may be given by advertisement in a newspaper accepted for legal publications either separately or as part of a notice given to foreclose the real property or may be given by private notice if such parties are known to Lender. Neither the grant of a security interest pursuant to this Mortgage nor the filing of a financing statement pursuant to the Code shall constitute reasonable notice to Borrower. The proceeds ever impair the stated intention of any disposition this Mortgage that all Collateral comprising the Premises and at all times and for all purposes and in all proceedings both legal or equitable shall be regarded as part of the Collateral, real property conveyed and secured hereunder irrespective of whether such item is physically attached to the real property or any part thereof, such item is referred to or reflected in a financing statement. Borrower will on demand deliver all financing statements that may from time to time be applied required by Lender to establish, perfect and continue the payment priority of Lender’s security interest in the Debt in such priority Collateral and proportions as shall pay all expenses incurred by Lender in its discretion connection with the renewal or extensions of any financing statements executed in connection with the Premises; and shall deem proper. It is not necessary give advance written notice of any proposed change in Borrower’s name, identity or structure and will execute and deliver to Lender prior to or concurrently with such change all additional financing statements that Lender may require to establish and perfect the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionpriority of Lender’s security interest.

Appears in 2 contracts

Sources: Future Advance Mortgage and Security Agreement (Great Plains Ethanol LLC), Future Advance Mortgage and Security Agreement (Great Plains Ethanol LLC)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgageAs security for the Loan, deed to secure debt or deed of trustthe Lessee, as applicabledebtor, and a “security agreement” within hereby grants to the meaning Lessor, as secured party, for the benefit of the UCC. The Property includes both real Secured Party, a security interest in all of the Lessee's right, title and interest in and to all personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in comprising the Property. This Security Instrument is filed as a fixture filing , whether now owned or hereafter acquired and covers goods which are or are to become fixtures on all cash and non-cash proceeds (including insurance proceeds) and products thereof (the Property. Borrower by executing and delivering this Security Instrument has granted to Lender"Collateral"). (b) If the Lessee shall default hereunder, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, LenderLessor, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code as in effect at such time in New York, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender the Lessor may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender sell, exchange, lease or otherwise realize on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to dispose of the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender the Lessor with respect to the Collateral given sent to Borrower the Lessee in accordance with the provisions hereof at least ten (10) seven days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to Borrowerthe Lessee, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Lessee within five days after receipt by the Lessee of such notice. The proceeds of any sale or disposition of the Collateral, or any part thereof, may be applied by Lender the Lessor to the payment of the Debt Loan in such order, priority and proportions as Lender the Lessor in its discretion shall deem proper. It is not necessary that The Lessee shall remain liable for any deficiency between the proceeds of any sale or other disposition of the Collateral and all unpaid amounts owed pursuant to the Loan. The filing of a copy of this Lease (or a memorandum hereof) shall be present at any disposition thereof. Lender shall have no obligation deemed to clean-up or otherwise prepare constitute the Collateral for disposition.filing of a financing statement to perfect the security interest in

Appears in 2 contracts

Sources: Lease Agreement (Williams Communications Group Inc), Lease (Williams Communications Group Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at address of Lender (secured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any disposition thereof. commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall have no obligation from time to clean-up or otherwise prepare the Collateral for dispositiontime require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT II, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, and shall be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Morgans Hotel Group Co.), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Morgans Hotel Group Co.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at address of Lender (secured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any disposition thereof. commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall have no obligation from time to clean-up or otherwise prepare the Collateral for dispositiontime require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Sources: Deed of Trust (TNP Strategic Retail Trust, Inc.), Deed of Trust (TNP Strategic Retail Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Trustor hereby grants to LenderBeneficiary, as security for the DebtObligations, a security interest in the Fixtures, the Equipment, the Personal Property and the other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Beneficiary after the occurrence and during the continuance of an Event of Default, Borrower Trustor shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and costs, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral given sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law or the Loan Agreement, constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. It The principal place of business of Trustor (Debtor) is not as set forth on page one hereof and the address of Beneficiary (Secured Party) is as set forth on page one hereof. Trustor hereby authorizes Beneficiary to file or record any Uniform Commercial Code financing statements as Beneficiary deems to be reasonably necessary that to perfect its security interest in the Collateral be present at property described in this Section 1.03, and in the fixtures described in Section 1.04, without any disposition signature of Trustor, and to file any amendments, modifications, assignments and terminations thereof. Lender shall have no obligation to clean-up or otherwise prepare , all without the Collateral for dispositionsignature of Trustor.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Terra Tech Corp.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Terra Tech Corp.)

Security Agreement. (a) (i) This Security Instrument is Mortgage constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement,” within the meaning of the UCC. The Uniform Commercial Code, and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower The Mortgagor by executing and delivering this Security Instrument Mortgage has granted to Lenderthe Mortgagee, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”)Equipment. If an Event of Default the Mortgagor shall occurdefault under the Note or this Mortgage, Lenderthe Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as Lender the Mortgagee may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of Lender following an Event of Defaultthe Mortgagee, Borrower shall, the Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to Lender the Mortgagee at a convenient place acceptable to Lenderthe Mortgagee. Borrower The Mortgagor shall pay to Lender the Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender the Mortgagee in protecting its interest in the Collateral Equipment and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedEquipment. Any notice of sale, disposition or other intended action by Lender the Mortgagee with respect to the Collateral given Equipment sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralEquipment, or any part thereof, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. It is not necessary that If any change shall occur in the Collateral Mortgagor’s name, the Mortgagor shall promptly cause to be present filed at any disposition thereof. Lender shall have no obligation its own expense, new financing statements as required under the Uniform Commercial Code to clean-up or otherwise prepare replace those on file in favor of the Collateral for dispositionMortgagee.

Appears in 2 contracts

Sources: Mortgage, Security Agreement and Assignment of Leases and Rents, Mortgage, Security Agreement and Assignment of Leases and Rents

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of the Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, the Borrower hereby grants to Lenderthe Administrative Agent, as security for the DebtObligations, a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lenderthe Administrative Agent, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender the Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following the Administrative Agent after the occurrence and during the continuance of an Event of Default, the Borrower shall, at its expense, assemble the Collateral and make it available to Lender the Administrative Agent at a convenient place (at the Land if tangible property) acceptable to Lenderthe Administrative Agent. The Borrower shall pay to Lender the Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender the Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender the Administrative Agent with respect to the Collateral given sent to the Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to the Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender the Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender the Administrative Agent in its discretion shall deem proper. It The principal place of business of the Borrower (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare address of the Collateral for dispositionAdministrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Mortgage and Security Agreement, Mortgage and Security Agreement (Heartland Payment Systems Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Deed of Trust and Security Agreement (Koger Equity Inc), Leasehold Mortgage, Security Agreement and Fixture Filing (FelCor Lodging Trust Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property, and Borrower hereby grants to Lender a security interest in all portions of the Property constituting personal property or fixtures under the UCC. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Lightstone Value Plus Real Estate Investment Trust, Inc.), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed Deed of trust, as applicable, Trust and a "security agreement" within the meaning of the UCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Trustor by executing and delivering this Security Instrument Deed of Trust has granted and hereby grants to LenderBeneficiary, as security for the Debt, a security interest in the Trust Property to the full extent that the Trust Property may be subject to the UCC (said such portion of the Trust Property so subject to the UCC being called in this Section 18.14 paragraph the “Collateral”"COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. If an Event of Default shall occur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses attorneys' fees and attorneys’ feesdisbursements, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral given Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral be present at any disposition thereof. Lender covered by this Deed of Trust. (b) Trustor hereby absolutely and unconditionally pledges and assigns to Beneficiary as additional security all of Trustor's right, title and interest in, to and under the: (i) Tenant in Common Agreement, and (ii) the Property and Asset Management Agreement ("MANAGEMENT AGREEMENT") among each entity constituting Trustor and Behringer Harvard TIC Management Services LP executed in connection with the Loan, (collectively, the "TENANCY IN COMMON AGREEMENTS"); provided that Beneficiary shall have no obligation to clean-up or otherwise prepare liability under any of the Collateral for dispositionTenancy In Common Agreements.

Appears in 2 contracts

Sources: Deed of Trust (Behringer Harvard Reit I Inc), Deed of Trust (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted and hereby grants to Lender, as security for the DebtObligations, a security interest in the Property to the full extent that the Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 paragraph the “Collateral”). ▇▇▇▇▇▇▇▇ hereby agrees with ▇▇▇▇▇▇ to execute and deliver to Lender, in form and substance satisfactory to Lender, such financing statements, continuation statements, other uniform commercial code forms and shall pay all expenses and fees in connection with the filing and recording thereof, and such further assurances as Lender may from time to time, reasonably consider necessary to create, perfect, and preserve ▇▇▇▇▇▇’s security interest herein granted. This Security Instrument shall also constitute a “fixture filing” for the purposes of the Uniform Commercial Code. All or part of the Property are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten five (105) days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt Obligations in such priority and proportions as Lender in its discretion shall deem proper. It is not In the event of any change in name, identity or structure of any Borrower, such Borrower shall notify Lender thereof, and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of ▇▇▇▇▇▇’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Note, this Security Instrument and the Other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by ▇▇▇▇▇▇, as ▇▇▇▇▇▇▇▇’s attorney-in-fact, in connection with the Collateral be present at covered by this Security Instrument. Notwithstanding the foregoing, Borrower shall appear and defend in any disposition thereof. action or proceeding which affects or purports to affect the Property and any interest or right therein, whether such proceeding effects title or any other rights in the Property (and in conjunction therewith, Borrower shall fully cooperate with Lender shall have no obligation in the event Lender is a party to clean-up such action or otherwise prepare the Collateral for dispositionproceeding).

Appears in 2 contracts

Sources: Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.), Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Leasehold Mortgage, Assignment of Rents and Security Agreement

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust (Electro Scientific Industries Inc)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, Mortgage and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument Mortgage has granted and hereby grants to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said such portion of the Property so subject to the UCC being called in this Section 18.14 paragraph the “Collateral”). This Mortgage shall also constitute a “fixture filing” for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Mortgage covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Mortgage. If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and disbursements, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of Borrower, Borrower shall notify Lender thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements (be they unsigned or signed only by Lender, as secured party) in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Mortgage.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is Mortgage constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCC. The Uniform Commercial Code, and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur under the Notes or this Mortgage, Lenderthe Mortgagee and the Collateral Agent on behalf of the Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Mortgaged Property or any part thereof, and to take such other measures as Lender the Mortgagee or the Collateral Agent may deem necessary for the care, protection and preservation of the CollateralMortgaged Property. Upon request or demand of Lender following an Event of Defaultthe Collateral Agent, Borrower shall, the Mortgagor shall at its expense, expense assemble the Collateral Mortgaged Property and make it available to Lender the Collateral Agent at a convenient place acceptable to Lenderthe Collateral Agent. Borrower The Mortgagor shall pay to Lender the Collateral Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and Agent in enforcing or exercising its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedMortgaged Property. Any notice of sale, disposition or other intended action by Lender the Mortgagee or Collateral Agent with respect to the Collateral given Mortgaged Property sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralMortgaged Property, or any part thereof, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. It is not necessary that If any change shall occur in the Mortgagor's name, the Mortgagor shall promptly cause to be filed at its own expense, new financing statements as required under the Uniform Commercial Code to replace those on file in favor of the Mortgagee or Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionAgent on behalf of Mortgagee.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Assignment of Leases and Rents (Nexmed Inc)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust (TNP Strategic Retail Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”"COLLATERAL"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law or the Loan Agreement, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (Debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Grantor hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Grantor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Grantor (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT I, Inc.)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Borrower hereby grants to MERS, as nominee of Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereofaddress of Lender (secured party) is as set forth on page one hereof. Lender shall have no obligation to cleanBorrower's organizational ID no. is 14-up or otherwise prepare the Collateral for disposition1838660.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is Mortgage constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement", within the meaning of the UCC. The Uniform Commercial Code, and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower The Mortgagor by executing and delivering this Security Instrument Mortgage has granted to Lenderthe Mortgagee, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”)Equipment. If an Event of Default shall occuroccurs under the Loan Agreement or this Mortgage, Lenderthe Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as Lender the Mortgagee may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of Lender following an Event of Defaultthe Mortgagee, Borrower shall, the Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to Lender the Mortgagee at a convenient place acceptable to Lenderthe Mortgagee. Borrower The Mortgagor shall pay to Lender the Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Mortgagee in protecting its interest in the Collateral Equipment and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedEquipment. Any notice of sale, disposition or other intended action by Lender the Mortgagee with respect to the Collateral given Equipment sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to Borrower. The proceeds the Mortgagor, and the method of any sale or disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt other intended action set forth or specified in such priority and proportions as Lender in its discretion notice shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.conclusively

Appears in 1 contract

Sources: Open Ended Mortgage, Security Agreement and Assignment of Leases and Rents (Igi Inc)

Security Agreement. (a) (i) This Security Instrument is constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement," within the meaning of the UCC. The Uniform Commercial Code, and the Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Mortgaged Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property Building Equipment and hereby pledges to Lender any and all monies now or hereafter held by ▇▇▇▇▇▇ as additional security for the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called Debt until expended or applied as provided in this Section 18.14 the “Collateral”)Instrument. If an Event of a Default shall occuroccurs under the Note, this Instrument or the Loan Documents, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Building Equipment or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the CollateralBuilding Equipment. Upon request or demand of Lender following an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral Building Equipment and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral Building Equipment and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedBuilding Equipment. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given Building Equipment sent to Borrower in accordance with the provisions hereof of this Instrument at least ten seven (107) days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to Borrower, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by Borrower within five (5) days after receipt by Borrower of such notice. The proceeds of any sale or disposition of the CollateralBuilding Equipment, or any part thereof, may be applied by Lender to the payment of the Debt in such order, priority and proportions as Lender in its discretion shall deem proper. (b) Borrower warrants that (i) Borrower's (that is, "Debtor's") name, identity or corporate structure and residence or principal place of business are as set forth in Section 1.15(c) hereof; (ii) Borrower (that is, "Debtor") has been using or operating under said name, identity or corporate structure without change for the time period set forth in Section 1.15(c) hereof; and (iii) the location of the collateral is upon the Real Property. It Borrower covenants and agrees that ▇▇▇▇▇▇▇▇ will furnish Lender with notice of any change in the matters addressed by clauses (i) or (iii) of this Section 1.15(b) within thirty (30) days of the effective date of any such change and Borrower will promptly execute any financing statements or other instruments deemed necessary by ▇▇▇▇▇▇ to prevent any filed financing statement from becoming misleading or losing its perfected status. (c) The information contained in this Section 1.15(c) is not necessary provided in order that this Instrument shall, to the Collateral extent permitted by applicable law, comply with the requirements of the Uniform Commercial Code, as enacted in the State of Minnesota, for instruments to be present at any disposition thereoffiled as financing statements. Lender shall have no obligation The name of the "Debtor" and, as provided to clean-up Borrower by ▇▇▇▇▇▇, the name of the "Secured Party," the identity or otherwise prepare corporate structure and residence or principal place of business of "Debtor," and the Collateral time period for dispositionwhich "Debtor" has been using or operating under said name and identity or corporate structure without change, are as set forth in Schedule 1 of EXHIBIT C attached hereto and by this reference made a part hereof; as provided to Borrower by ▇▇▇▇▇▇, the name of the mailing address of the "Secured Party" from which information concerning the security interest may be obtained, and the mailing address of "Debtor," are as set forth in Schedule 2 of said EXHIBIT C attached hereto; and a statement indicating the types, or describing the items, of collateral is set forth hereinabove.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Paper Warehouse Inc)

Security Agreement. (a) (i) This Security Instrument is Deed of Trust constitutes both a real property mortgage, deed to secure debt mortgage or deed of trust, as applicable, trust and a “security agreement,” within the meaning of the Texas UCC. The , and the Trust Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Grantor in the Trust Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower The Grantor by executing and delivering this Security Instrument Deed of Trust has granted to Lenderthe Beneficiary, as security for the DebtObligations, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur hereunder, Lenderthe Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code as in effect in the state of New York (the “UCC”), including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender the Beneficiary may deem necessary for the care, protection and preservation of the UCC Collateral. Upon request or demand of Lender following an Event of Defaultthe Beneficiary, Borrower shall, the Grantor shall at its expense, expense assemble the UCC Collateral and make it available to Lender the Beneficiary at a convenient place acceptable to Lenderthe Beneficiary. Borrower The Grantor shall pay to Lender the Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Beneficiary in protecting its interest in the UCC Collateral and in enforcing its rights hereunder with respect to the UCC Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender the Beneficiary with respect to the UCC Collateral given sent to Borrower the Grantor in accordance with the provisions hereof of this Deed of Trust at least ten (10) days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to Borrowerthe Grantor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the UCC unless objected to in writing by the Grantor within five (5) days after receipt by the Grantor of such notice. The proceeds of any sale or disposition of the UCC Collateral, or any part thereof, may be applied by Lender the Beneficiary to the payment of the Debt Obligations in such order, priority and proportions as Lender the Beneficiary in its discretion shall deem proper. It If any change shall occur in the Grantor's name, the Grantor shall promptly cause to be filed at its own expense, new financing statements as required under the UCC to replace those on file in favor of the Beneficiary. Conflicts between this Paragraph 28 and any provision of the Security Agreement of even date herewith between the Grantor and the Beneficiary shall be resolved in favor of the Security Agreement. (b) Certain of the UCC Collateral is not necessary or will become “fixtures” (as that term is defined in the Texas UCC), and when this Deed of Trust is filed for record in the real estate records of the county where such fixtures are situated, it shall also automatically operate as a financing statement upon such of the UCC Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up which is or otherwise prepare the Collateral for dispositionmay become fixtures.

Appears in 1 contract

Sources: Deed of Trust (Smith & Wollensky Restaurant Group Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Grantor hereby grants to LenderAdministrative Agent, for the benefit of Administrative Agent and the Lenders, as security for the DebtObligations, a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccurs, LenderAdministrative Agent, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Administrative Agent after the occurrence, and during the continuance, of an Event of Default, Borrower shallGrantor will, at its expense, assemble the Collateral and make it available to Lender Administrative Agent at a convenient place (at the Land if tangible property) acceptable to LenderAdministrative Agent. Borrower shall Grantor will pay to Lender Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence, and during the continuance, of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Administrative Agent with respect to the Collateral given sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) days 10 Business Days prior to such action, shall will, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender Administrative Agent in its discretion shall deem deems proper. It The principal place of business of Grantor (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Administrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed to Secure Debt, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust III, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.. 101

Appears in 1 contract

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Pebblebrook Hotel Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Mortgagor hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all A rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Mortgagor's (Debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Open End Mortgage and Security Agreement (Cedar Income Fund LTD /Md/)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted and hereby grants to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said such portion of the Property so subject to the UCC being called in this Section 18.14 12 the “Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on within ten (10) days of written demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and disbursements, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. It is not In the event of any change in name, identity, structure or place of incorporation, organization or formation of Borrower, Borrower shall notify Lender thereof and promptly after request shall file and record such UCC forms as are necessary to maintain the priority of Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements naming Lender, as secured party, and Borrower, as debtor, in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Security Instrument.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Presidential Realty Corp/De/)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Mortgagor hereby grants to LenderMortgagee, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured EXHIBIT G-2 – CBL 4873-9001-7310\2 party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) days prior to such action, shall shall, except as otherwise provided by applicable Laws, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable Laws, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. It Mortgagor’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Mortgagee (secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Credit Agreement (CBL & Associates Properties Inc)

Security Agreement. (a) (i) This Security Instrument It is both the intention of the parties hereto that this instrument shall constitute a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” agreement within the meaning of the UCCUniform Commercial Code as enacted in the state in which the Land is located with respect to the personalty and fixtures comprising a part of the Property, and that a security interest shall attach thereto for the benefit of Mortgagee to further secure the payment of the Indebtedness. The Property includes Mortgagor hereby authorizes Mortgagee to file financing and continuation statements with respect to such collateral in which Mortgagor has a mortgageable interest, without the signature of Mortgagor whenever lawful, and upon request, Mortgagor shall promptly execute financing and continuation statements in form satisfactory to Mortgagee to further evidence and secure Mortgagee's interest in such collateral, and shall pay all filing fees in connection therewith in accordance with Paragraph 10. In the event of the occurrence and continuance of one or more Defaults, Mortgagee, pursuant to the applicable NY1-497038 EXECUTION provision of the Uniform Commercial Code, shall have the option of proceeding as to both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other accordance with its rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality in respect of the foregoingreal property, in which event the right to take possession default provisions of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the CollateralUniform Commercial Code shall not apply. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest The parties agree that in the Collateral and in enforcing its rights hereunder event Mortgagee elects to proceed with respect to collateral constituting personalty or fixtures separately from the Collateral. Any disposition pursuant real property, the giving of ten days' notice by Mortgagee, sent by an overnight mail service, postage prepaid, to Mortgagor at its address referred to in Paragraph 39, designating the UCC place and time of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a any public sale or the time after which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition any private sale or other intended action by Lender disposition of such collateral is to be made, shall be deemed to be reasonable notice thereof and Mortgagor waives any other notice with respect thereto. Notwithstanding anything in Paragraph 55 to the Collateral given to Borrower contrary, in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds event of any disposition inconsistency or conflict between the terms and provisions of any Security Agreement and the terms and provisions of this Paragraph 36, the terms and provisions of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion Security Agreement shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncontrol.

Appears in 1 contract

Sources: Mortgage, Security Agreement, and Assignment of Leases and Rents (SLM International Inc /De)

Security Agreement. (a) (i) This It is the intention of the parties hereto that this instrument shall constitute a Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” Agreement within the meaning of the UCCUniform Commercial Code as enacted in the state in which the Land is located with respect to the personalty and fixtures comprising a part of the Property, and that a security interest shall attach thereto for the benefit of Mortgagee to further secure the payment of the Indebtedness. The Property includes Mortgagor hereby authorizes Mortgagee to file financing and continuation statements with respect to such collateral in which Mortgagor has a mortgageable interest, without the signature of Mortgagor whenever lawful, and upon request, Mortgagor shall promptly execute financing and continuation statements in form satisfactory to Mortgagee to further evidence and secure Mortgagee's interest in such collateral, and shall pay all filing fees in connection therewith in accordance with Paragraph 10. In the event of the occurrence and continuance of one or more Defaults, Mortgagee, pursuant to the applicable provision of the Uniform Commercial Code, shall have the option of proceeding as to both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other accordance with its rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality in respect of the foregoingreal property, in which event the right to take possession default provisions of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the CollateralUniform Commercial Code shall not apply. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest The parties agree that in the Collateral and in enforcing its rights hereunder event Mortgagee elects to proceed with respect to collateral constituting personalty or fixtures separately from the Collateral. Any disposition pursuant real property, the giving of ten days' notice by Mortgagee, sent by an overnight mail service, postage prepaid, to Mortgagor at its address referred to in Paragraph 39, designating the UCC place and time of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a any public sale or the time after which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition any private sale or other intended action by Lender disposition of such collateral is to be made, shall be deemed to be reasonable notice thereof and Mortgagor waives any other notice with respect thereto. Notwithstanding anything in Paragraph 54 to the Collateral given to Borrower contrary, in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds event of any disposition inconsistency or conflict between the terms and provisions of any Security Agreement and the terms and provisions of this Paragraph 36, the terms and provisions of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion Security Agreement shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncontrol.

Appears in 1 contract

Sources: Mortgage, Security Agreement, and Assignment of Leases and Rents (SLM International Inc /De)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Borrower hereby grants to LenderBeneficiary, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such EXHIBIT G-1 – CBL 4873-9001-7310\2 other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Beneficiary after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Beneficiary (secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Credit Agreement (CBL & Associates Properties Inc)

Security Agreement. (a) (i) This Security Instrument is Mortgage constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCC. The Uniform Commercial Code, and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur under the Notes or this Mortgage, Lenderthe Mortgagee and the Collateral Agent on behalf of the Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Mortgaged Property or any part thereof, and to take such other measures as Lender the Mortgagee or the Collateral Agent may deem necessary for the care, protection and preservation of the CollateralMortgaged Property. Upon request or demand of Lender following an Event of Defaultthe Collateral Agent, Borrower shall, the Mortgagor shall at its expense, expense assemble the Collateral Mortgaged Property and make it available to Lender the Collateral Agent at a convenient place acceptable to Lenderthe Collateral Agent. Borrower The Mortgagor shall pay to Lender the Collateral Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and Agent in enforcing or exercising its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedMortgaged Property. Any notice of sale, disposition or other intended action by Lender the Mortgagee or Collateral Agent with respect to the Collateral given Mortgaged Property sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) days prior to the date of any such sale, disposition or other action, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralMortgaged Property, or any part thereof, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. It is not necessary that If any change shall occur in the Mortgagor's name, the Mortgagor shall promptly cause to be filed at its own expense, new financing statements as required under the Uniform Commercial Code to replace those on file in favor of the Mortgagee or Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionAgent on behalf of Mortgagee.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Assignment of Leases and Rents (Nexmed Inc)

Security Agreement. (a) (i) This Security Instrument Agreement is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and all transfer taxes, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, action shall constitute reasonable notice to Borrower. (b) Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, or, to the extent permitted under the UCC, unsigned, in connection with the Collateral covered by this Agreement. Such financing statements may, at the option of Lender, describe the Collateral as “all assets” or “all personal property” of Borrower. (c) Borrower will furnish to Lender from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Lender may reasonably request, all in reasonable detail. (d) The proceeds powers conferred on Lender hereunder are solely to protect Lender’s interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender Collateral in its discretion shall deem proper. It is not necessary that possession and the Collateral be present at any disposition thereof. accounting for moneys actually received by it hereunder, Lender shall have no obligation duty (and neither Lender nor any of its partners, members, officers, directors, employees or agents shall be responsible to clean-up Borrower for any act or otherwise prepare failure to act) as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not Lender has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. Lender shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral for dispositionin its possession if such Collateral is accorded treatment substantially equal to that which it accords its own property.

Appears in 1 contract

Sources: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Grantor hereby grants to Lender, as security for the DebtObligations (as hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccurs and is continuing, Lender, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shallGrantor will, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) acceptable to Lender. Borrower shall Grantor will pay to Lender on demand any and all expenses, including reasonable legal expenses and reasonable attorneys’ fees, incurred or paid by Lender L▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) days 10 Business Days prior to such action, shall will, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may shall, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt Obligations (as hereinafter defined) in such priority and proportions as Lender in its reasonable discretion shall deem deems proper. It The principal place of business of Grantor (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Digital Ally, Inc.)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage ------------------ and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Mortgagor by executing and delivering this Security Instrument Mortgage has granted and hereby grants to LenderMortgagee, as security for the Debt, a security interest in the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the UCC Uniform Commercial Code (said portion of the Mortgaged Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 paragraph 28 the "Collateral"). If an Event of Default shall occur, Lender---------- Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon the request or demand of Lender following an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and reasonable attorneys' fees, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Leasehold Mortgage (Afc Enterprises Inc)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC 90526305v3 Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (Debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Inland Diversified Real Estate Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCC. The Uniform Commercial Code adopted and enacted by the state or states where any of the Mortgaged Property includes both real is located (the “Uniform Commercial Code”), made by and personal property between Borrower, as debtor, and all other rights and interestsLender, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Propertysecured party. Borrower by executing and delivering this Security Instrument has granted hereby grants to Lender, as security for the Debt, a security interest in the Mortgaged Property to the full extent that the Mortgaged Property may be subject to the UCC Uniform Commercial Code (said portion of the Mortgaged Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 herein referred to as the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ attorney fees, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its Lender’s rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten five (105) days prior to such action, shall constitute commercially reasonable notice to Borrower. The Collateral may be sold in such manner, portions, order or parcels as Lender may determine, with or without having first taken possession of same. The right of sale arising out of any Event of Default shall not be exhausted by any one or more sales or attempted sales, any other action, proceeding, or other exercise of a remedy, and the liens granted by this Security Instrument shall continue unimpaired. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Grubb & Ellis Co)

Security Agreement. This Mortgage shall constitute a security agreement as defined in the Uniform Commercial Code (a) (i) This Security Instrument is both a real property mortgage, deed "Code"). Any equipment or fixtures installed in or used in the Premises are to secure debt be used by the Mortgagor solely for the Mortgagor's business purposes or deed of trustas the equipment and fixtures leased or furnished by the Mortgagor, as applicablelandlord, and a “security agreement” within the meaning to tenants of the UCC. The Property includes both real Premises and personal property and all other rights and interests, whether tangible such equipment or intangible in nature, of Borrower in fixtures will be kept at the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures buildings on the Property. Borrower by executing Premises and delivering this Security Instrument has granted to Lender, as security for will not be removed therefrom without the Debt, a security interest in consent of the Property to the full extent that the Property Mortgagee and may be subject affixed to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition such buildings but will not be affixed to any other rights real estate. The remedies of the Mortgagee hereunder are cumulative and separate, and the exercise of any one or more of the remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default provided for herein or under the UCC, including, without limiting the generality Uniform Commercial Code shall not be constructed as a waiver of any of the foregoing, the right to take possession other rights of the Collateral or Mortgagee including having any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation non-realty items of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much Premises deemed part of the Collateral as may constitute personal property realty upon any foreclosure thereof. If notice to any party of the intended disposition of the Premises is required by law in a particular instance, such notice shall be considered deemed commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such actionintended disposition and may be given by advertisement in a newspaper accepted for legal publications either separately or as part of a notice given to foreclose the real property or may be given by private notice if such parties are known to Mortgagee. Neither the grant of a security interest pursuant to this Mortgage nor the filing of a financing statement pursuant to the Code shall ever impair the stated intention of this Mortgage that all personal property, rents, leases and profits and judgments and awards comprising and at all times and for all purposes and in all proceedings both legal or equitable shall constitute reasonable notice be regarded as part of the real property mortgaged hereunder irrespective of whether such item is physically attached to Borrowerthe real property or any such item is referred to or reflected in a financing statement. The proceeds Mortgagor will on demand deliver any financing statements that may from time to time be required by Mortgagee to establish and perfect the priority of Mortgagee's security interest in the Premises and shall pay all expenses incurred by Mortgagee in connection with the renewal or extensions of any disposition financing statements executed in connection with the Premises; and shall give advance written notice of any proposed change in Mortgagor's name, identity or structure and will execute and deliver to Mortgagee prior to or concurrently with such change all additional financing statements that Mortgagee may require to establish and perfect the Collateral, or any part thereof, may be applied by Lender to the payment priority of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionMortgagee's security interest.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Wsi Industries Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Trustor hereby grants to LenderAdministrative Agent, for the benefit of Administrative Agent and the Lenders, as security for the DebtObligations, a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccurs, LenderAdministrative Agent, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Administrative Agent after the occurrence, and during the continuance, of an Event of Default, Borrower shallTrustor will, at its expense, assemble the Collateral and make it available to Lender Administrative Agent at a convenient place (at the Land if tangible property) acceptable to LenderAdministrative Agent. Borrower shall Trustor will pay to Lender Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence, and during the continuance, of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Administrative Agent with respect to the Collateral given sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) days 10 Business Days prior to such action, shall will, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender Administrative Agent in its discretion shall deem deems proper. It The principal place of business of Trustor (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Administrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust III, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (debtor's) principal place of business is not necessary that as set forth on page one (1) hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one (1) hereof.

Appears in 1 contract

Sources: Deed of Trust, Security Agreement and Fixture Filing (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Grantor by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower Grantor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower Grantor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (RLJ Lodging Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt To the extent the Mortgaged Property consists of UCC Collateral or deed items of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on Fixtures [or as-extracted collateral or timber to be cut] under applicable law, this Mortgage shall also be construed as a security agreement under the PropertyUCC. Borrower by executing The Mortgagor, in order to secure the due and delivering this Security Instrument has granted punctual payment and performance of the Obligations, hereby grants to Lender, as security the Mortgagee for its benefit and for the Debtbenefit of the Secured Parties, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection UCC Collateral and preservation of the CollateralFixtures. Upon request or demand and during the continuance of Lender following an Event of Default, Borrower shallthe Mortgagee shall be entitled with respect to the UCC Collateral and Fixtures to exercise all remedies hereunder or any other Credit Document or available under the UCC with respect thereto and all other remedies available under applicable law. Without limiting the foregoing, the UCC Collateral and Fixtures, may, at its expensethe Mortgagee’s option, (i) be sold hereunder together with any sale of any portion of the Mortgaged Property or otherwise, (ii) be sold separately pursuant to the UCC, or (iii) be dealt with by the Mortgagee in any other manner permitted under applicable law. The Mortgagee may require the Mortgagor to assemble the UCC Collateral and Fixtures and make it available to Lender the Mortgagee at a convenient place acceptable to Lenderbe designated by the Mortgagee. Borrower shall pay to Lender on demand any The Mortgagor acknowledges and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any agrees that a disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower such collateral in accordance with the provisions hereof at least Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof; provided, however, that the Mortgagee shall give the Mortgagor not less than ten (10) days days’ prior to such action, shall constitute reasonable notice to Borrower. The proceeds of the time and place of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for intended disposition.

Appears in 1 contract

Sources: Senior Secured Credit Agreement (Language Line Services Holdings, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust (FelCor Lodging Trust Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to MERS, as nominee of Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Acadia Realty Trust)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Borrower and Operator each hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in all Property, including without limitation the Fixtures, the Equipment, the Personal Property and Rents to the full extent that such Property, including without limitation the Fixtures, the Equipment, the Personal Property and Rents may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower and Operator each shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower and Operator shall pay to Lender on within ten (10) Business Days after written demand therefor, any and all out-of-pocket expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower Grantor in accordance with Section 10.6 of the provisions hereof Loan Agreement at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower and Operator (each, debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Fee and Leasehold Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (BRE Select Hotels Corp)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Mortgagor hereby grants to LenderMortgagee, as security for the DebtObligations, a security interest in the Fixtures, the Equipment, the Personal Property and the other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all reasonable, out-of-pocket expenses, including reasonable legal expenses and attorneys’ feesfees and costs, actually incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral given sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. It The principal place of business of Mortgagor (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (New York REIT, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, lien instrument and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Security MORTGAGE, SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENT - Page 49 Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted and hereby grants to Lender, as security for the Debt, a security interest in the Security Property to the full extent that the Security Property may be subject to the UCC Uniform Commercial Code (said portion of the Security Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). This Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. The record owner of the Security Property is Borrower. (b) If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand After the occurrence, and during the continuance, of Lender following an Event of Default, upon request or demand of Lender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all actual out-of-pocket expenses, including reasonable legal expenses attorneys' fees and attorneys’ feesdisbursements, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten five (105) days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of any Borrower, such Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Lender's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Lender shall deem necessary, and shall pay all actual, out-of-pocket expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's obligations under the Note, this Security Instrument and any of the other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Security Instrument.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Fixture Financing Statement (Prime Group Realty Trust)

Security Agreement. (a) (i) This Security Instrument Mortgage is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Mortgage, Borrower and Operator each hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in all Property, including without limitation the Fixtures, the Equipment, the Personal Property and Rents to the full extent that such Property, including without limitation the Fixtures, the Equipment, the Personal Property and Rents may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower and Operator each shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on within ten (10) Business Days after demand therefor, any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower Mortgagor in accordance with Section 10.6 of the provisions hereof Loan Agreement at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower and Operator (each, debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Fee and Leasehold Mortgage, Assignment of Leases and Rents, Fixture Filing and Security Agreement (BRE Select Hotels Corp)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the PropertyProperty including all accounts established by Agent pursuant to the Loan Agreement, the Clearing Account Agreement or Cash Management Agreement. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Agent, for the ratable benefit of Lender, as security for the DebtObligations, a security interest in the Fixtures, the Equipment, the Personal Property and the other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”)) subject to the Permitted Encumbrances. If an Event of Default shall occuroccur and be continuing, LenderAgent, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Agent may deem reasonably necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Agent after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender Agent at a convenient place (at the Land if tangible property) reasonably acceptable to LenderAgent. Borrower shall pay to Lender on Agent within ten (10) Business Days following demand any and all reasonable and documented, out-of-pocket expenses, including reasonable and documented, out-of-pocket legal expenses and attorneys’ feesfees and costs, actually incurred or paid by Lender Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Agent with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten twenty (1020) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Agent to the payment of the Debt in such priority and proportions as Lender Agent in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare first page hereof and the Collateral for dispositionaddress of Agent (secured party) is as set forth on the first page hereof.

Appears in 1 contract

Sources: Senior Loan Mortgage (KBS Strategic Opportunity REIT, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Individual Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Individual Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, thereof and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Individual Borrower shall, at its expense, use commercially reasonable efforts to assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Individual Borrower shall pay to Lender on demand any and all reasonable out-of-pocket expenses, including reasonable legal expenses and attorneys’ fees, actually incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Individual Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Individual Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Individual Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Griffin Capital Essential Asset REIT II, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to MERS, as nominee of Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereofaddress of Lender (secured party) is as set forth on page one hereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionBorrower’s organizational ID no. is 4058123.

Appears in 1 contract

Sources: Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to MERS, as nominee of Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the "Collateral"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereofaddress of Lender (secured party) is as set forth on page one hereof. Lender shall have no obligation to cleanBorrower's organizational ID no. is ▇▇-up or otherwise prepare the Collateral for disposition▇▇▇▇▇▇▇.

Appears in 1 contract

Sources: Deed to Secure Debt, Assignment of Leases and Rents and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Individual Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Individual Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Individual Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Individual Borrower shall pay to Lender on demand any and all reasonable out-of-pocket expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Individual Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Individual Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Individual Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage and Security Agreement (BlueLinx Holdings Inc.)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed Deed of trust, as applicable, Trust and a “security agreement” within the meaning of the UCCUniform Commercial Code of the State. The Secured Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Secured Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Grantor, by executing and delivering this Security Instrument has granted Deed of Trust grants to LenderBeneficiary and Trustee (to the extent provided herein), as security for the DebtObligations, a security interest in the Secured Property to the full extent that the Secured Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”)Uniform Commercial Code. If an Event of Default shall occur, LenderBeneficiary and/or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to sell the Personal Property at public or private sale, the right to take possession of the Collateral Personal Property or any part thereof, and to take such other measures as Lender Beneficiary and/or Trustee may deem necessary for the care, protection and preservation of the CollateralPersonal Property. Upon request or demand of Lender following an Event of DefaultBeneficiary and/or Trustee, Borrower shall, Grantor shall at its expense, expense assemble the Collateral Personal WCSR 7692675 Deed of Trust Loan No. 374-0470 Property and make it available to Lender Beneficiary and/or Trustee at a convenient place acceptable to LenderBeneficiary and/or Trustee. Borrower Grantor shall pay to Lender Beneficiary and Trustee on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and disbursements, incurred or paid by Lender Beneficiary and Trustee in protecting its interest in the Collateral Personal Property and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedPersonal Property. Any notice of sale, disposition or other intended action by Lender Beneficiary and/or Trustee with respect to the Collateral given Personal Property sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) days prior to such actionsale, disposition or action shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the CollateralPersonal Property, or any part thereof, may be applied by Lender Beneficiary to the payment of the Debt Obligations in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereofWCSR 7692675 Deed of Trust Loan No. Lender shall have no obligation to clean374-up or otherwise prepare the Collateral for disposition.0470

Appears in 1 contract

Sources: Deed of Trust (Trade Street Residential, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, leasehold mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Grantor by executing and delivering this Security Instrument has granted and hereby grants to LenderBeneficiary, as security for the DebtObligations, a security interest in the Property to the full extent that the Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 paragraph the “Collateral”). Grantor hereby authorizes Beneficiary to prepare and file, in form and substance satisfactory to Beneficiary, such financing statements, continuation statements, other uniform commercial code forms and shall pay all expenses and fees in connection with the filing and recording thereof, and such further assurances as Beneficiary may from time to time, reasonably consider necessary to create, perfect, and preserve Beneficiary’s security interest herein granted. This Security Instrument shall also be effective as a “fixture filing” as to property which is or is to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur, LenderBeneficiary, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultBeneficiary, Borrower shall, Grantor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place acceptable to LenderBeneficiary. Borrower Grantor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral given sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Beneficiary to the payment of the Debt Obligations in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. It is not Grantor shall promptly advise Beneficiary of the accrual of any commercial tort claims involving the Property. In the event of any change in name, identity, structure, or jurisdiction or form of organization of Borrower or Grantor, Grantor and/or Borrower shall notify Beneficiary thereof, and Beneficiary shall be authorized to prepare and file such Uniform Commercial Code forms as Beneficiary may deem necessary to maintain the priority of Beneficiary’s lien upon and security interest in the Collateral, and Borrower or Grantor shall pay all expenses and fees in connection with such filing. Beneficiary shall also be authorized to prepare and file such other additional Uniform Commercial Code forms or continuation statements as Beneficiary shall deem necessary, and Borrower or Grantor shall pay all expenses and fees in connection with the filing thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Note, this Security Instrument and the Other Loan Documents. Grantor and Borrower hereby irrevocably appoint Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as Grantor’s and Borrower’s attorney-in-fact, in connection with the Collateral be present at covered by this Security Instrument. Notwithstanding the foregoing, Grantor and Borrower shall appear and defend in any disposition thereof. Lender action or proceeding which affects or purports to affect the Property and any interest or right therein, whether such proceeding effects title or any other rights in the Property (and in conjunction therewith, Grantor and Borrower shall have no obligation fully cooperate with Beneficiary in the event Beneficiary is a party to clean-up such action or otherwise prepare the Collateral for dispositionproceeding).

Appears in 1 contract

Sources: Leasehold Indemnity Deed of Trust and Security Agreement (Columbia Equity Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt mortgage or deed of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument has granted to Lender, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occurexist, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following while an Event of DefaultDefault exists, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Governmental Lender, as security for the DebtObligations (as hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccurs, Governmental Lender, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Governmental Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Governmental Lender following after the occurrence of an Event of Default, Borrower shallwill, at its expense, assemble the Collateral and make it available to Governmental Lender at a convenient place (at the Land if tangible property) acceptable to Governmental Lender. Borrower shall will pay to Governmental Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Governmental Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Governmental Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days 10 Business Days prior to such action, shall will, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Governmental Lender to the payment of the Debt Obligations (as hereinafter defined) in such priority and proportions as Governmental Lender in its discretion shall deem deems proper. It The principal place of business of Borrower (Debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Governmental Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”"COLLATERAL"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed to Secure Debt, Assignment of Leases and Rents and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten fifteen (1015) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It The principal place of business of Borrower (debtor) is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Fee and Leasehold Mortgage, Security Agreement and Fixture Filing (Maui Land & Pineapple Co Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Borrower hereby grants to Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days Business Days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. address of Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition(secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Fee and Leasehold Deed to Secure Debt and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument Deed is both a real property mortgage, deed to secure debt or deed of trust, as applicable, and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument Deed, Borrower has granted and thereby grants to Lender, as security for the Debt, a security interest in the Property to the full extent of Borrower’s interest therein and to the extent that the Property may be subject to the UCC Uniform Commercial Code (said such portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If Borrower hereby agrees with Lender to execute and deliver to Lender, in form and substance satisfactory to Lender, such financing statements and such further assurances as Lender may from time to time reasonably consider necessary to create, perfect or preserve Lender’s security interest therein granted. This Deed shall also be effective as a financing statement covering any other property and may be filed in any other appropriate filing or recording office. All or part of the Property are or are to become fixtures. During the continuance of an Event of Default shall occurDefault, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, Uniform Commercial Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place acceptable to Lenderthe Land. Borrower shall pay to Lender on demand any and all expenses, including Lender’s reasonable legal expenses and attorneys’ fees, necessarily incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not In the event of any change in name, identity or structure of any Borrower, such Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall reasonably require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Note, this Deed and the other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file, if Borrower fails to do so within fifteen (15) Business Days after notice thereof from Lender, with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, in connection with the Collateral be present at any disposition thereofcovered by this Deed. (b) BORROWER HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY WAIVES ALL RIGHTS WHICH BORROWER HAS UNDER CHAPTER 14 OF TITLE 44 OF THE OFFICIAL CODE OF GEORGIA OR UNDER ANY SIMILAR PROVISION OF APPLICABLE LAW TO NOTICE AND TO A JUDICIAL HEARING PRIOR TO A WRIT OF POSSESSION ENTITLING LENDER, ITS SUCCESSORS AND ASSIGNS TO POSSESSION OF THE COLLATERAL UPON AN EVENT OF DEFAULT. Lender shall have no obligation to cleanWITHOUT LIMITING ANY OTHER RIGHT WHICH SECURED PARTY MAY HAVE, BORROWER CONSENTS THAT, IF LENDER FILES A PETITION FOR AN IMMEDIATE WRIT OF POSSESSION IN COMPLIANCE WITH SECTION ▇▇-up or otherwise prepare the Collateral for disposition▇▇-▇▇▇ AND ▇▇-▇▇▇-▇▇▇ OF THE OFFICIAL CODE OF GEORGIA OR UNDER ANY SIMILAR PROVISION OF APPLICABLE LAW AND THIS WAIVER OR A COPY HEREOF IS ALLEGED IN SUCH PETITION AND ATTACHED THERETO, THE COURT BEFORE WHICH SUCH PETITION IS FILED MAY DISPENSE WITH ALL RIGHTS AND PROCEDURES HEREIN WAIVED AND MAY ISSUE FORTHWITH AN IMMEDIATE WRIT OF POSSESSION IN ACCORDANCE WITH CHAPTER 14 OF TITLE 44 OF THE OFFICIAL CODE OF GEORGIA OR IN ACCORDANCE WITH ANY SIMILAR PROVISION OF APPLICABLE LAW, WITHOUT THE NECESSITY OF AN ACCOMPANYING BOND AS OTHERWISE REQUIRED BY SECTION ▇▇-▇▇-▇▇▇ OF THE OFFICIAL CODE OF GEORGIA OR IN ACCORDANCE WITH ANY SIMILAR PROVISION OF APPLICABLE LAW. BORROWER HEREBY ACKNOWLEDGES THAT IT HAS READ AND FULLY UNDERSTANDS THE TERMS OF THIS WAIVER AND THE EFFECT HEREOF.

Appears in 1 contract

Sources: Deed to Secure Debt, Assignment of Leases and Profits and Security Agreement (Wyndham International Inc)

Security Agreement. (a) (i) This Security Instrument is Mortgage constitutes both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement," within the meaning of the UCC. The Property , and the Collateral includes both real and personal property any and all other rights and interests, whether tangible or intangible in nature, of Borrower each Mortgagor in the PropertyCollateral. This Security Instrument is filed as a fixture filing and covers goods which are or are Information relative to become fixtures on the Propertysecurity interest created hereby may be obtained by application to Mortgagee at the address provided in the introductory clause. Borrower Each Mortgagor, by executing and delivering this Security Instrument Mortgage, has granted to Lender, as security for the Debt, Secured Obligations a lien on and security interest in such of the Property to the full extent that the Property may be subject to Collateral as is governed by the UCC (said portion in favor of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”)Mortgagee. If an During a Trigger Event of Default shall occurPeriod, LenderMortgagee, in addition to any other rights and remedies which that it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party Mortgagee upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of such of the Collateral as is governed by the UCC or any part thereofthereof and such other rights specified in Section 21(a)(ii)(C), and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateralthereof. Upon request or demand of Lender following an Event of DefaultMortgagee, Borrower shall, the Company shall at its expense, expense assemble such of the Collateral as is governed by the UCC and make it available to Lender at a convenient place acceptable to Lender. Borrower shall pay to Lender Mortgagee on demand and shall reimburse Mortgagee for any and all expensesexpense, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in such of the Collateral as is governed by the UCC and in enforcing its the rights granted hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much such of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in governed by the county where the Premises is locatedUCC. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to such of the Collateral given as is governed by the UCC sent to Borrower either Mortgagor in accordance with the provisions hereof of this Mortgage at least ten (10) days prior to such action, action shall constitute reasonable notice to Borrowersuch Mortgagor. Any method of sale or disposition or other intended action in accordance with the UCC shall conclusively be deemed to be commercially reasonable within the meaning of the UCC unless objected to in writing by either the Company or the IDB within ten (10) days after receipt by such Mortgagor of such notice. The proceeds of any sale or disposition of such of the CollateralCollateral as is governed by the UCC, or any part thereof, may shall be applied by Lender Mortgagee to the payment of the Debt Secured Obligations in such order, priority and proportions as Lender set forth in Article VI of the Intercreditor Agreement. Notwithstanding anything contained in this Section 16 to the contrary, with respect to any Collateral that is also defined as "Collateral" under the Security Agreement, Mortgagee hereby reserves, and Mortgagee shall be entitled to exercise, each of its discretion rights, powers and remedies under the Security Agreement with respect to such Collateral. At the request of Mortgagee upon advice of counsel, each Mortgagor will execute one or more Financing Statements and renewals and amendments thereof pursuant to the UCC of any jurisdiction deemed applicable by Mortgagee in form satisfactory to Mortgagee, and the Company will pay the cost of filing the same in all public offices wherever filing is deemed by Mortgagee to be necessary or desirable. The Company covenants to execute and deliver Mortgagee, upon demand, such additional assurances, writings and other instruments as may be reasonably required by Mortgagee to effect the purpose hereof or to perfect the interest of Mortgagee in any security hereby given, including a copy of any opinion it may deliver to the Indenture Trustee in connection with the Indenture and a reliance letter addressed to it in connection therewith. Each Mortgagor hereby appoints (such appointment being coupled with an interest), until the Secured Obligations are paid in full, Mortgagee as attorney-in-fact for such Mortgagor and to execute in the name thereof any financing statements or other comparable documents reasonably deemed by Mortgagee to be necessary or desirable to perfect or protect or continue the lien and security interest hereby granted. Each Mortgagor hereby ratifies all that Mortgagee shall deem proper. It is not necessary that do or cause to be done as such Mortgagor's attorney-in-fact consistent with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionforegoing.

Appears in 1 contract

Sources: Leasehold Mortgage, Assignment of Leases, Rents, Issues and Profits (Mobile Energy Services Co LLC)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed Deed of trust, as applicable, Trust and a "security agreement" within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Trustor by executing and delivering this Security Instrument Deed of Trust has granted and hereby grants to LenderBeneficiary, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said such portion of the Property so subject to the UCC being called in this Section 18.14 paragraph the “Collateral”"COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. If an Event of Default shall occur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses attorneys' fees and attorneys’ feesdisbursements, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral given Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements (be they unsigned or signed only by Beneficiary as secured party) in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Deed of Trust.

Appears in 1 contract

Sources: Deed of Trust (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower Trustor by executing and delivering this Security Instrument has granted and hereby grants to LenderBeneficiary, as security for the Debt, a security interest in the Property to the full extent that the Property may be subject to the UCC (said such portion of the Property so subject to the UCC being called in this Section 18.14 paragraph the "Collateral"). This Security Instrument shall also constitute a "fixture filing" for the purposes of the UCC. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys’ feesfees and disbursements, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral given Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. It is not In the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor’s obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositioncovered by this Security Instrument.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Fixture Filing and Security Agreement (Maguire Properties Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt To the extent the Mortgaged Property consists of UCC Collateral or deed items of trust, as applicable, and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on Fixtures under applicable law, this Mortgage shall also be construed as a security agreement under the PropertyUCC. Borrower by executing The Mortgagor, in order to secure the due and delivering this Security Instrument has granted punctual payment and performance of the Secured Obligations, hereby grants to Lender, as security the Mortgagee for its benefit and for the Debtbenefit of the Secured Parties, a security interest in the Property to the full extent that the Property may be subject to the UCC (said portion of the Property so subject to the UCC being called in this Section 18.14 the “Collateral”). If an Event of Default shall occur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection UCC Collateral and preservation of the CollateralFixtures. Upon request or demand and during the continuance of Lender following an Event of Default, Borrower shallthe Mortgagee shall be entitled with respect to the UCC Collateral and Fixtures to exercise all remedies hereunder or any other Notes Document or available under the UCC with respect thereto and all other remedies available under applicable law. Without limiting the foregoing, the UCC Collateral and Fixtures may, at its expensethe Mortgagee’s option, (i) be sold hereunder together with any sale of any portion of the Mortgaged Property or otherwise, (ii) be sold separately pursuant to the UCC, or (iii) be dealt with by the Mortgagee in any other manner permitted under applicable law. The Mortgagee may require the Mortgagor to assemble the UCC Collateral or Fixtures and make it available to Lender the Mortgagee at a convenient place acceptable to Lenderbe designated by the Mortgagee. Borrower shall pay to Lender on demand any The Mortgagor acknowledges and all expenses, including reasonable legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any agrees that a disposition pursuant to the UCC of so much of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given to Borrower such collateral in accordance with the provisions hereof at least Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof; provided, however, that the Mortgagee shall give the Mortgagor not less than ten (10) days days’ prior to such action, shall constitute reasonable notice to Borrower. The proceeds of the time and place of any disposition of the Collateral, or any part thereof, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for intended disposition.

Appears in 1 contract

Sources: Mortgage Modification Agreement (New Enterprise Stone & Lime Co., Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust, as applicable, trust and a “security agreement” within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Individual Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Instrument, Individual Borrower hereby grants to Agent, for the benefit of each Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures (including in any event all “fixtures” (as defined in Article 9 of the Uniform Commercial Code) located on the Land), the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”). If an Event of Default shall occuroccur and be continuing, LenderAgent, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following Agent after the occurrence and during the continuance of an Event of Default, Individual Borrower shall, at its expense, assemble the Collateral and make it available to Lender Agent at a convenient place (at the Land if tangible property) reasonably acceptable to LenderAgent. Individual Borrower shall pay to Lender on Agent within three (3) Business Days after written demand therefor, any and all out of pocket expenses, including reasonable third party legal expenses and attorneys’ feesfees of outside counsel, incurred or paid by Lender Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender Agent with respect to the Collateral given sent to Individual Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Individual Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender Agent to the payment of the Debt in such priority and proportions as Lender Agent in its discretion shall deem proper. It Individual Borrower’s (debtor’s) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionaddress of Agent (secured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Excel Trust, L.P.)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property mortgage, deed to secure debt or deed of trust, as applicable, mortgage and a "security agreement" within the meaning of the UCCUniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by By executing and delivering this Security Instrument has granted Deed of Trust, Borrower hereby grants to MERS, as nominee of Lender, as security for the DebtObligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the UCC Uniform Commercial Code (said portion of the Property so subject to the UCC Uniform Commercial Code being called in this Section 18.14 the “Collateral”"COLLATERAL"). If an Event of Default shall occuroccur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCCUniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender following after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to Collateral after the UCC occurrence and during the continuance of so much an Event of the Collateral as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the county where the Premises is locatedDefault. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral given sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. It Borrower's (debtor's) principal place of business is not necessary that as set forth on page one hereof and the Collateral be present at any disposition thereofaddress of Lender (secured party) is as set forth on page one hereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for dispositionBorrowers organizational ID no. is 3955516.

Appears in 1 contract

Sources: Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc)