Common use of First Lien Clause in Contracts

First Lien. The lien created by this Deed of Trust is a first and prior lien on the Mortgaged Premises and Grantor will keep the Mortgaged Premises and the rights, privileges and appurtenances thereto free from all lien claims of every kind whether superior, equal, or inferior to the lien of this Deed of Trust subject only to Permitted Encumbrances and if any such lien be filed, Grantor, within forty-five (45) days after such filing shall cause same to be discharged by payment, bonding or otherwise to the satisfaction of Beneficiary. Grantor further agrees to protect and defend the title and possession of the Mortgaged Premises so that this Deed of Trust shall be and remain a first lien thereon until said debt be fully paid, or if foreclosure shall be had hereunder so that the purchaser at said sale shall acquire good title in fee simple to the Mortgaged Premises free and clear of all liens and encumbrances.

Appears in 1 contract

Samples: Trust, Security Agreement and Fixture Filing (Cole Credit Property Trust III, Inc.)

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First Lien. The lien created by this Deed of Trust Mortgage is a first and prior lien on the Mortgaged Premises and Grantor Mortgagor will keep the Mortgaged Premises and the rights, privileges and appurtenances thereto free from all lien claims of every kind whether superior, equal, or inferior to the lien of this Deed of Trust Mortgage subject only to Permitted Encumbrances and if any such lien be filed, GrantorMortgagor, within forty-five twenty (4520) days after such filing shall cause same to be discharged by payment, bonding or otherwise to the satisfaction of BeneficiaryMortgagee. Grantor Xxxxxxxxx further agrees to protect and defend the title and possession of the Mortgaged Premises so that this Deed of Trust Mortgage shall be and remain a first lien thereon until said debt be fully paid, or if foreclosure shall be had hereunder so that the purchaser at said sale shall acquire good title in fee simple to the Mortgaged Premises free and clear of all liens and encumbrancesencumbrances except the Permitted Encumbrances.

Appears in 1 contract

Samples: Open End First Mortgage Deed, Security Agreement and Fixture (GTJ REIT, Inc.)

First Lien. The lien created by this Deed of Trust Mortgage is a first and prior lien on the Mortgaged Premises and Grantor Mortgagor will keep the Mortgaged Premises and the rights, privileges and appurtenances thereto free from all lien claims of every kind whether superior, equal, or inferior to the lien of this Deed of Trust Mortgage subject only to Permitted Encumbrances and if any such lien Loan No. 18856 be filed, GrantorMortgagor, within forty-five (45) days after such filing shall cause same to be discharged by payment, bonding or otherwise to the satisfaction of BeneficiaryMortgagee. Grantor Xxxxxxxxx further agrees to protect and defend the title and possession of the Mortgaged Premises so that this Deed of Trust Mortgage shall be and remain a first lien thereon until said debt be fully paid, or if foreclosure shall be had hereunder so that the purchaser at said sale shall acquire good title in fee simple to the Mortgaged Premises free and clear of all liens and encumbrances.

Appears in 1 contract

Samples: First Mortgage, Security Agreement and Fixture Filing (Cole Credit Property Trust III, Inc.)

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First Lien. The lien created by this Deed of Trust Mortgage is a first and prior lien on the Mortgaged Premises and Grantor Mortgagor will keep the Mortgaged Premises and the rights, privileges and appurtenances thereto free from all lien claims of every kind whether superior, equal, or inferior to the lien of this Deed of Trust Mortgage subject only to Permitted Encumbrances and if any such lien be filed, GrantorMortgagor, within forty-five (45) days after such filing shall cause same to be discharged by payment, bonding or otherwise to the satisfaction of BeneficiaryMortgagee. Grantor Xxxxxxxxx further agrees to protect and defend the title and possession of the Mortgaged Premises so that this Deed of Trust Mortgage shall be and remain a first lien thereon until said debt be fully paid, or if foreclosure shall be had hereunder so that the purchaser at said sale shall acquire good title in fee simple to the Mortgaged Premises free and clear of all liens and encumbrances.

Appears in 1 contract

Samples: First Mortgage, Security Agreement and Fixture Filing (Cole Credit Property Trust III, Inc.)

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