Mortgaging of Real Property Collateral Sample Clauses

Mortgaging of Real Property Collateral. Each Company hereby GRANTS to the Agent a Lien against, and hereby agrees to duly Pledge to the Agent by executing, acknowledging sufficiently for recording and delivering to the Agent or (where appropriate) to a trustee designated by the Agent, a recordable mortgage, deed of trust or security deed (whichever form of real property mortgage instrument is appropriate to the jurisdiction in which the real property is located) — on the standard ▇▇▇▇▇▇ ▇▇▇/▇▇▇▇▇▇▇ Mac form, modified appropriately for the purpose, or in another form approved by the Agent — and in substance approved by the Agent, to cover each lot, parcel, tract or leasehold estate (as the case may be) of present or future real property owned by a Company after foreclosure or conveyance in lieu of foreclosure of any Repurchased Loan or other Pledged Loan (or any other Collateral that, while Pledged to the Agent, is or becomes real property under the law of the U.S. jurisdiction where it is located), each of which mortgage instruments shall describe the mortgagee or grantee as “JPMorgan Chase Bank, N.A., as a Lender and as Agent for certain other Lenders” and shall describe the Debt it secures substantially as follows: All present and future debts and obligations of [HomeBanc Corp.][HomeBanc Mortgage Corporation] to JPMorgan Chase Bank, N.A., as a Lender and as Agent for the other Lenders named therein, and to such other Lenders, under or pursuant to the 8/05 Amended and Restated Senior Secured Credit Agreement dated as of August 1, 2005 by and among HomeBanc Corp., HomeBanc Mortgage Corporation, JPMorgan Chase Bank, N.A. and others, the principal debt under which credit agreement has a final stated maturity of July 31, 2006, as such credit agreement may have been or may from time to time be supplemented, amended or restated; provided that the principal debt hereby secured shall in no event exceed [state here the amount that is equal to 120% of the value of the mortgaged real estate as shown in its most recent Appraisal or Broker’s Price Opinion]. While the Agent does not initially intend to record any of such mortgages, deeds of trust or security deeds, the Agent may elect to record — upon prior written notice to the relevant Company, unless an Event of Default has occurred that the Agent has not declared in writing to have been cured or waived, in which case no written notice is necessary — any or all of them at any time or times, and all costs of filing and recordation shall be paid for by the ...