Common use of SECURITY TO BE DELIVERED Clause in Contracts

SECURITY TO BE DELIVERED. The Borrower shall deliver the following security (the "Security") duly registered, where applicable, subject to the provisions of the Borrower’s CCAA Plan and, otherwise, all in the form and on the terms acceptable to the Lender's solicitors: a) Mortgage – A 1st mortgage in the amount of $2,500,000 on the ▇▇▇▇▇▇▇▇▇▇▇ Project (WIP 1st Mortgage) and property, specifically Lots 7 and 8 and 8 thereof. The mortgage will be registered at the Wrap‐Up Interest Rate, being 24.00%.

SECURITY TO BE DELIVERED. The Borrower shall deliver the following security (the "Security") duly registered, registered where applicable, subject to the provisions of the Borrower’s CCAA Plan and, otherwise, and all in the form and on the terms acceptable to the Lender's solicitors: a) Mortgage – A 1st mortgage in the principal amount of $2,500,000 6,500,000 on the ▇▇▇▇▇▇▇▇▇▇▇ Project (WIP 1st Mortgage) Mill project and property, specifically being Lots 7 4‐6 and 8 and 8 thereof. The mortgage will be registered at the Wrap‐Up Interest Rate, being 24.00%9‐10.