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.
Appears in 18 contracts
Samples: And Security Agreement, And Security Agreement, Security Agreement
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 lien has priority over the lien of this Instrument, is a "“Transfer" ” which constitutes an Event of Default.
Appears in 7 contracts
Samples: And Security Agreement (VMS National Properties Joint Venture), And Security Agreement (VMS National Properties Joint Venture), And Security Agreement (VMS National Properties Joint Venture)
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.
Appears in 4 contracts
Samples: And Security Agreement (Vinings Investment Properties Trust/Ga), And Security Agreement (Vinings Investment Properties Trust/Ga), Cornerstone Realty Income Trust 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 "“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.
Appears in 4 contracts
Samples: Leases and Security Agreement (Steadfast Income REIT, Inc.), And Security Agreement (America First Apartment Investors Inc), Security Agreement (Behringer Harvard Multifamily Reit I 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 "Lien") on the Mortgaged Property (other than the lien of this Instrument) or on certain any 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.
Appears in 3 contracts
Samples: Replacement Reserve and Security Agreement (American Retirement Villas Properties Iii LTD Partnership), Replacement Reserve and Security Agreement (American Retirement Villas Properties Ii), Replacement Reserve and Security Agreement (Arv Assisted Living 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 lien, privilege 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.
Appears in 2 contracts
Samples: And Security Agreement (VMS National Properties Joint Venture), And Security Agreement (Historic Preservation Properties 1989 Limited Partnership)
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 lien, privilege or encumbrance (a "“Lien"”) on the Mortgaged Property (other than the lien of this InstrumentMortgage) 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 InstrumentMortgage, is a "“Transfer" ” which constitutes an Event of Default.
Appears in 1 contract
Samples: And Security Agreement
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.such
Appears in 1 contract
Samples: Rents and Security Agreement (Maxus Realty Trust Inc)
