Common use of Grant of Security; Incorporation by Reference Clause in Contracts

Grant of Security; Incorporation by Reference. In addition to constituting a mortgage lien on those portions of the Property classified as real property (including fixtures to the extent they are real property), this Deed of Trust shall constitute a Security Agreement within the meaning of the Uniform Commercial Code under the laws of Wyoming (the "Uniform Commercial Code") or within the meaning of the common law with respect to those parts of the Property classified as personal property (including fixtures to the extent they are personal property). To the extent permitted by applicable law, Grantor hereby grants to the Secured Party a security interest in and to those parts of the Property classified as personal property (including fixtures to the extent they are personal property, personal property and fixtures that are leased by Grantor, but only to the extent Grantor can grant to the Secured Party a security interest therein without breaching the terms of any Agreement), and all contract rights under the Common Facilities Agreements, (collectively, the "Secured Property") for the benefit of the Secured Party to further secure the payment and performance of the Obligations. The Property includes all Secured Property.