LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "Lien") on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "Transfer" which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 38 contracts
Samples: Replacement Reserve Agreement, And Security Agreement (Steadfast Income REIT, Inc.), And Security Agreement (Angeles Income Properties LTD 6)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 36 contracts
Samples: Security Agreement (Steadfast Income REIT, Inc.), And Security Agreement (Behringer Harvard Opportunity REIT II, Inc.), And Security Agreement (Behringer Harvard Opportunity REIT II, Inc.)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "LienLIEN") on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "TransferTRANSFER" which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 5 contracts
Samples: And Security Agreement (Roberts Realty Investors Inc), And Security Agreement (Wellsford Real Properties Inc), Rents and Security Agreement (Sunrise Assisted Living Inc)
LIENS; ENCUMBRANCES. Borrower Xxxxxxxx acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 2 contracts
Samples: And Security Agreement (NTS Realty Holdings Lp), And Security Agreement (NTS Realty Holdings Lp)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of the Bond Mortgage and this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the NoteReimbursement Agreement.
Appears in 1 contract
Samples: mf.freddiemac.com
LIENS; ENCUMBRANCES. Borrower Xxxxxxxx acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "Lien") on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "Transfer" which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 1 contract
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ’ which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 1 contract
Samples: And Security Agreement (Secured Investment Resources Fund Lp Ii)
LIENS; ENCUMBRANCES. Borrower acknowledges that, to the extent provided in Section 21, the grant, creation or existence of any mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this Instrumentinstrument) or on certain ownership interests in Borrower, whether voluntary, involuntary or by operation of law, and whether or not such Lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default and subjects Borrower to personal liability under the Note.
Appears in 1 contract
