Common use of Lien on Realty Clause in Contracts

Lien on Realty. Borrower represents and warrants to Lender that Borrower is not the direct or indirect legal or beneficial owner of any real property, except the real property set forth on Schedule 4.11 below. If Borrower shall acquire at any time or times hereafter an interest in any real property other than as set forth on Schedule 4.11 below, Borrower agrees promptly to execute and deliver to Lender as additional security and Collateral for the Liabilities, deeds of trust, security deeds, mortgages or other collateral assignments satisfactory in form and substance to Lender, and its counsel (herein collectively referred to as “New Mortgages”) covering such real property. Each New Mortgage shall be duly recorded in each office where such recording is required to constitute a valid Lien on the real property covered thereby. Borrower shall deliver to Lender at Borrower’s expense, mortgagee title insurance policies issued by a title insurance company satisfactory to Lender insuring Lender as mortgagee; such policies shall be in form and substance satisfactory to Lender and shall insure a valid Lien in favor of Lender and the property covered thereby, subject only to those exceptions acceptable to Lender and its counsel. Borrower shall deliver to Lender such other documents as Lender and its counsel may reasonably request relating to any such New Mortgages.

Lien on Realty. Borrower represents and warrants to Lender that Borrower is not the direct or indirect legal or beneficial owner of any real property, except the real property set forth on Schedule 4.11 below. If Borrower shall acquire at any time or times hereafter an any interest in any other real property other than as set forth on Schedule 4.11 belowProperty, Borrower agrees promptly to execute and deliver to Lender as additional security and Collateral for the LiabilitiesObligations, deeds of trust, security deeds, mortgages or other collateral assignments satisfactory in form and substance to Lender, and its counsel (herein collectively referred to as “"New Mortgages”") covering such real propertyProperty. Each New Mortgage shall be duly recorded in each office where such recording is required to constitute a valid Lien on the real property Property covered thereby. Borrower shall deliver to Lender at Borrower’s 's expense, mortgagee title insurance policies issued by a title insurance company satisfactory to Lender insuring Lender as mortgagee; such policies shall be in form and substance satisfactory to Lender and shall insure a valid first Lien in favor of Lender and on the property Property covered thereby, subject only to those exceptions acceptable to Lender and its counsel. Said policies shall be in form and substance satisfactory to Lender. Borrower shall deliver to Lender such other documents documents, including, without limitation, ALTA Surveys, of the real Property, as Lender and its counsel may reasonably request relating to the real Property subject to any such New Mortgages.

Lien on Realty. Borrower represents and warrants to Lender that Borrower is not the direct or indirect legal or beneficial owner of any real property, except the real property set forth on Schedule 4.11 belowhereto. If Borrower shall acquire at any time or times hereafter an interest in any real property other than as set forth on Schedule 4.11 belowhereto, Borrower agrees promptly to execute and deliver to Lender as additional security and Collateral for the Liabilities, deeds of trust, security deeds, mortgages or other collateral assignments satisfactory in form and substance to Lender, and its counsel (herein collectively referred to as “New Mortgages”” ) covering such real property. Each New Mortgage shall be duly recorded in each office where such recording is required to constitute a valid Lien lien on the real property covered thereby. Borrower shall deliver to Lender at Borrower’s expense, mortgagee title insurance policies issued by a title insurance company satisfactory to Lender insuring Lender as mortgagee; such policies shall be in form and substance satisfactory to Lender and shall insure a valid Lien lien in favor of Lender and the property covered thereby, subject only to those exceptions reasonably acceptable to Lender and its counsel. Borrower shall deliver to Lender such other documents as Lender and its counsel may reasonably request relating to any such New Mortgages.

Lien on Realty. Borrower represents The due and warrants to Lender that Borrower is not punctual payment and performance of the direct or indirect legal or beneficial owner of any real property, except Obligations shall also be secured by the real property set forth on Schedule 4.11 belowLien created by the Mortgages. If any Borrower shall acquire at any time or times hereafter an any interest in any other real property Property (other than as set forth on Schedule 4.11 belowleasehold interests in sales offices), such Borrower agrees promptly to execute and deliver to Lender Lender, as additional security and Collateral for the LiabilitiesObligations, deeds of trust, security deeds, mortgages or other collateral assignments satisfactory in form and substance to Lender, Lender and its counsel (herein collectively referred to as “"New Mortgages”") covering such real propertyProperty. Each The Mortgages and each New Mortgage shall be duly recorded (at Borrowers' expense) in each office where such recording is required to constitute a valid Lien on the real property Property covered thereby. In respect to each Mortgage and each New Mortgage, such Borrower shall deliver to Lender Lender, at Borrower’s Borrowers' expense, mortgagee title insurance policies issued by a title insurance company satisfactory to Lender insuring Lender Lender, as mortgagee; such policies shall be in form and substance satisfactory to Lender and shall insure a valid first Lien in favor of Lender and on the property Property covered thereby, subject only to those exceptions acceptable to Lender and its counsel. Said policies shall be in form and substance satisfactory to Lender. Such Borrower shall also deliver to Lender such other documents documents, including, without limitation, ALTA Surveys of the real Property, as Lender and its counsel may reasonably request relating to the real Property subject to any such New MortgagesMortgage.

Lien on Realty. Borrower represents The due and warrants to Lender that Borrower is not punctual payment and performance of the direct or indirect legal or beneficial owner Obligations shall also be secured by the Lien created by the Mortgage upon all real Property of any real property, except the real property set forth on Schedule 4.11 belowLowrance described therein. If any Domestic Borrower shall acquire at any time or times hereafter an any interest in any other real property other than as set forth on Schedule 4.11 belowProperty, each such Domestic Borrower agrees promptly to execute and deliver to Lender Lender, as additional security and Collateral for the LiabilitiesObligations, deeds of trust, security deeds, mortgages or other collateral assignments satisfactory in form and substance to Lender, Lender and its counsel (herein collectively referred to as “"New Mortgages”") covering such real propertyProperty. Each The Mortgage and each New Mortgage shall be duly recorded in each office where such recording is required to constitute a valid Lien on the real property Property covered thereby. Each Domestic Borrower shall deliver to Lender Lender, at the sole expense of such Domestic Borrower’s expense, mortgagee title insurance policies issued by a title insurance company satisfactory to Lender insuring Lender as mortgagee; such policies shall be in form and substance satisfactory to Lender and shall insure a valid first Lien in favor of Lender and on the property Property covered thereby, subject only to those exceptions acceptable to Lender and its counsel. Each Domestic Borrower shall deliver to Lender such other documents documents, including, without limitation, as-built survey prints of the real Property, as Lender and its counsel may reasonably request relating to the real Property subject to the Mortgage and any such New Mortgages.

Lien on Realty. Each Borrower represents and warrants to Lender that such Borrower is not the direct or indirect legal or beneficial owner of any real property, except the real property set forth on Schedule 4.11 belowhereto. If any Borrower shall acquire at any time or times hereafter an interest in any real property other than as set forth on Schedule 4.11 belowhereto, such Borrower agrees promptly to execute and deliver to Lender as additional security and Collateral for the Liabilities, deeds of trust, security deeds, mortgages or other collateral assignments satisfactory in form and substance to Lender, and its counsel (herein collectively referred to as “"New Mortgages”" ) covering such real property. Each New Mortgage shall be duly recorded in each office where such recording is required to constitute a valid Lien lien on the real property covered thereby. Borrower Borrowers shall deliver to Lender at Borrower’s Borrowers' expense, mortgagee title insurance policies issued by a title insurance company satisfactory to Lender insuring Lender as mortgagee; such policies shall be in form and substance reasonably satisfactory to Lender and shall insure a valid Lien lien in favor of Lender and the property covered thereby, subject only to those exceptions acceptable to Lender and its counsel. Borrower Borrowers shall deliver to Lender such other documents as Lender and its counsel may reasonably request relating to any such New Mortgages.

Lien on Realty. The due and punctual payment and performance of the Obligations shall also be secured by the Lien created by each Mortgage upon all real Property of Borrower represents and warrants to Lender that Borrower is described therein. To the extent not previously executed under the direct or indirect legal or beneficial owner of any real propertyExisting Loan Agreement, except the real property set forth on Schedule 4.11 below. If Borrower shall acquire at any time or times hereafter an interest in any real property other than as set forth on Schedule 4.11 below, Borrower agrees promptly to execute and deliver to Lender as additional security and Collateral for the Liabilities, deeds of trust, security deeds, mortgages or other collateral assignments satisfactory in form and substance to Lender, and its counsel (herein collectively referred to as “New Mortgages”) covering such real property. Each New each Mortgage shall be executed by Borrower in favor of Lender and shall be duly recorded recorded, at Borrower's expense, in each office where such recording is required to constitute a valid fully perfected Lien on the real property Property covered thereby. To the extent not previously delivered under the Existing Loan Agreement, Borrower shall deliver to Lender Lender, at Borrower’s 's expense, mortgagee title insurance policies issued by a title insurance company satisfactory to Lender insuring Lender as mortgagee; such Lender, which policies shall be in form and substance satisfactory to Lender and shall insure a valid first Lien in favor of Lender and on the property Property covered thereby, subject only to those exceptions reasonably acceptable to Lender and its counsel. Borrower shall deliver to Lender such other documents documents, including, without limitation, as-built survey prints of the real Property, as Lender and its counsel may reasonably request relating to any such New Mortgagesthe real Property subject to each Mortgage.