Common use of Security Agreement Clause in Contracts

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 11 contracts

Sources: Open End Mortgage and Security Agreement (Glimcher Realty Trust), Deed of Trust and Security Agreement (Glimcher Realty Trust), Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 11 contracts

Sources: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (Ashford Hospitality Trust Inc), Open End Mortgage, Security Agreement, Financing Statement and Assignment of Rents (Ashford Hospitality Prime, Inc.), Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (Grubb & Ellis Co)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this Section 18 the "COLLATERAL"“Collateral”). Mortgagor hereby agrees to execute and deliver to Mortgagee, in form and substance reasonably satisfactory to Mortgagee, such financing statements and such further assurances as Mortgagee may from time to time reasonably consider necessary to create, perfect, and preserve Mortgagee’s security interest herein granted. This Mortgage shall also constitute a “fixture filing” for the purposes of the Uniform Commercial Code as to all or any part of the Mortgaged Property which now or hereafter constitute “fixtures” under the Uniform Commercial Code. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Mortgage. If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place In the event of business is any change in name, identity or structure of any Mortgagor, such Mortgagor shall notify Mortgagee thereof and promptly after Mortgagee’s request shall execute, file and record such Uniform Commercial Code forms as set forth on page one hereof are necessary to maintain the priority of Mortgagee’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Mortgagee shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Mortgagor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Mortgagee shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Mortgagor’s obligations under the Note, this Mortgage and the address of Lender other Loan Documents. Mortgagor hereby irrevocably appoints Mortgagee as its attorney-in-fact, coupled with an interest upon Mortgagor’s failure to do so within five (Secured Party5) Business Days after request by Mortgagee, to file with the appropriate public office on its behalf any financing or other statements signed only by Mortgagee, as Mortgagor’s attorney-in-fact, in connection with the Collateral covered by this Mortgage. Notwithstanding the foregoing, Mortgagor shall appear and defend in any action or proceeding which affects or purports to affect the Mortgaged Property and any interest or right therein, whether such proceeding affects title or any other rights in the Mortgaged Property (and in conjunction therewith, Mortgagor shall fully cooperate with Mortgagee in the event Mortgagee is as set forth on page one hereofa party to such action or proceeding).

Appears in 8 contracts

Sources: Mortgage (Lightstone Value Plus Real Estate Investment Trust, Inc.), Mortgage (Lightstone Value Plus Real Estate Investment Trust, Inc.), Mortgage (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Security Agreement. (a) This Security Instrument Agreement is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")UCC. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees’ fees and all transfer taxes, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, action shall constitute reasonable notice to Borrower. (b) Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, or, to the extent permitted under the UCC, unsigned, in connection with the Collateral covered by this Agreement. Such financing statements may, at the option of Lender, describe the Collateral as “all assets” or “all personal property” of Borrower. (c) Borrower will furnish to Lender from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Lender may reasonably request, all in reasonable detail. (d) The proceeds powers conferred on Lender hereunder are solely to protect Lender’s interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any disposition Collateral in its possession and the accounting for moneys actually received by it hereunder, Lender shall have no duty (and neither Lender nor any of the its partners, members, officers, directors, employees or agents shall be responsible to Borrower for any act or failure to act) as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not Lender has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any part thereof, may, except as otherwise required by applicable law, other rights pertaining to any Collateral. Lender shall be applied by Lender deemed to have exercised reasonable care in the payment custody and preservation of the Debt in such priority and proportions as Lender any Collateral in its discretion shall deem proper. Borrower's (Debtor's) principal place of business possession if such Collateral is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofaccorded treatment substantially equal to that which it accords its own property.

Appears in 7 contracts

Sources: Loan and Security Agreement (Ashford Hospitality Trust Inc), Loan and Security Agreement (Ashford Hospitality Trust Inc), Loan and Security Agreement (Morgans Hotel Group Co.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 6 contracts

Sources: Deed of Trust (TNP Strategic Retail Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), Deed constitutes a security interest in agreement under the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the applicable Uniform Commercial Code (said portion with respect to the Chattels and such other of the Mortgaged Property so subject which is personal property. In addition to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to Beneficiary by other applicable law or hereby, Beneficiary shall have all of the rights and remedies with respect to the Chattels and such other personal property as are granted to a secured party upon default under the applicable Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon Beneficiary's request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, Grantor shall promptly and at its expense, expense assemble the Collateral Chattels and such other personal property and make it the same available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Grantor, after an Event of Default, shall pay to Lender Beneficiary on demand demand, with interest at the Default Rate, any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral Chattels and such other personal property and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Defaultthereto. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral Chattels and such other personal property sent to Borrower Grantor in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, action shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateralsuch sale or disposition, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt indebtedness secured hereby in such priority order and proportions as Lender Beneficiary in its discretion shall deem properappropriate. Borrower's (Debtor's) principal To the extent Grantor may lawfully do so and without limiting any rights and/or privileges herein granted to Beneficiary, Grantor agrees that Beneficiary and/or Trustee and any successor Trustee may dispose of any or all of the Chattels at the same time and place of business is as and after giving the same notices provided in this Deed in connection with a non-judicial foreclosure sale under the terms and conditions set forth on page one hereof in Article II, Section 2.01, or III of this Deed. In this connection, Grantor agrees that the sale may be conducted by Trustee or successor Trustee; that the sale of the real estate and improvements described in this Deed and the address of Lender (Secured Party) is Chattels or any part thereof, may be sold separately or together; and that in the event the Premises and the Chattels or any part thereof are sold together, Beneficiary will not be obligated to allocate the consideration received as set forth on page one hereofbetween the Premises and the Chattels.

Appears in 4 contracts

Sources: Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc), Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc), Purchase Money Deed of Trust (Apple Suites Inc)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" ", within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower hereby grants Mortgage has granted to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the FixturesMortgaged Property, the Equipment and the Personal Property to the full extent that the Fixturesincluding, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). without limitation, FF&E. If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral FF&E or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower FF&E. Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, expenses (including reasonable legal expenses and attorneys' fees, ) actually incurred or paid by Lender Mortgagee in protecting its interest in the Collateral FF&E and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. FF&E. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral FF&E sent to Borrower Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerMortgagor (except in the case of FF&E which is perishable or is of a type customarily sold on a recognized market, in which case such seven (7) business days' notice shall not be required), and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by Mortgagor within five (5) days after receipt by Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralFF&E, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such order, priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Brandywine Realty Trust), Mortgage (Brandywine Realty Trust), Credit Agreement (Brandywine Realty Trust)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, or shall cause ESBC to, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Mortgagor (Debtor) is as set forth on page one hereof and the address of Lender Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Empire State Realty Trust, Inc.), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Empire State Realty Trust, Inc.), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Empire State Building Associates L.L.C.)

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Trust Property. By Borrower by executing and delivering this Security Instrument, Borrower Deed of Trust has granted and hereby grants to LenderLender and Trustee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code (said portion of the Trust Property so subject to the Uniform Commercial Code being called in this paragraph the "COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. (b) If an Event of Default shall occur occur, Lender and be continuing, LenderTrustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender or Trustee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Defaultor Trustee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender and Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender and Trustee on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender and Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender and Trustee with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Borrower, Borrower shall notify Lender and Trustee thereof and promptly after request shall execute (if necessary), file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Lender's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute (if necessary), file and record such Uniform Commercial Code forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's (Debtor's) principal place obligations under the Note, this Deed of business is Trust and any of the other Loan Documents. Borrower hereby irrevocably appoints Lender as set forth its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Lender, as secured party, in connection with the address Collateral covered by this Deed of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 3 contracts

Sources: Deed of Trust (Maguire Properties Inc), Deed of Trust (Maguire Properties Inc), Deed of Trust (Maguire Properties Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Mortgagor (Debtor) is as set forth on page one hereof and the address of Lender Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.), Mortgage Agreement (KBS Real Estate Investment Trust, Inc.), Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor's’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and costs, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Lodging Fund REIT III, Inc.), Deed of Trust, Assignment of Leases and Rents and Security Agreement (Lodging Fund REIT III, Inc.), Guarantor Deed of Trust, Assignment of Leases and Rents, Security Agreement and Guaranty (Horizon Group Properties Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust), Fee and Leasehold Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) This Security Instrument Agreement is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")UCC. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees’ fees and all transfer taxes, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, action shall constitute reasonable notice to Borrower. (b) Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, or, to the extent permitted under the UCC, unsigned, in connection with the Collateral covered by this Agreement. (c) Borrower will furnish to Lender from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Lender may reasonably request, all in reasonable detail. (d) The powers conferred on Lender hereunder are solely to protect Lender’s interest in the Collateral and shall not impose any duty upon it to exercise any such powers. The proceeds Except for the safe custody of any disposition Collateral in its possession and the accounting for moneys actually received by it hereunder, Lender shall have no duty (and neither Lender nor any of the its officers, directors, employees or agents shall be responsible to Borrower for any act or failure to act) as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not Lender has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any part thereof, may, except as otherwise required by applicable law, other rights pertaining to any Collateral. Lender shall be applied by Lender deemed to have exercised reasonable care in the payment custody and preservation of the Debt in such priority and proportions as Lender any Collateral in its discretion shall deem proper. Borrower's (Debtor's) principal place of business possession if such Collateral is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofaccorded treatment substantially equal to that which it accords its own property.

Appears in 3 contracts

Sources: Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.)

Security Agreement. This Security Instrument is both The Company’s obligations to the Holders under this Note are secured by a real property deed of trust lien on and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment certain assets of Group and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code Operating (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting limitation, the generality equipment acquired with the proceeds of this Note), all as more particularly described in that certain Security Agreement dated of even date herewith made by each of Group and Operating for the benefit of the foregoingHolders (the “Security Agreement”). Each Holder of any Notes, by its acceptance thereof, consents and agrees to the right to take possession terms of the Security Agreement as the same may be in effect from time to time in accordance with its terms and directs EarthLink (or its assignee), as collateral agent (the “Collateral or any part thereofAgent”), to enter into the Security Agreement and to take such other measures as Lender may deem necessary for the care, protection perform its obligations and preservation exercise its rights thereunder in accordance therewith. The Collateral Agent shall have all of the Collateralpowers and duties of the Secured Party (as defined in the Security Agreement) under the Security Agreement and shall exercise such powers and duties on its own behalf and on behalf of the other Holders. Upon request or demand of Lender after the occurrence It is expressly understood and during the continuance of an Event of Default, Borrower shall, at its expense, assemble agreed that no Holder other than the Collateral and make it available to Lender at a convenient place (at Agent shall have any rights or duties under the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expensesSecurity Agreement except as provided in this Section 7; provided, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in however that the Collateral and in enforcing its rights hereunder Agent shall take any action with respect to the Security Agreement as is directed in writing by a majority of the Holders of outstanding aggregate principal amount of the Notes. In no event shall the Collateral after Agent be liable to any other Holder for any action taken, or for the occurrence and during failure to take any action, as the continuance Collateral Agent, except for such actions or inactions constituting gross negligence or willful misconduct. If at any time EarthLink ceases to hold the greatest percentage of an Event the outstanding aggregate principal amount of Default. Any notice the Notes, then EarthLink (or any assignee), with the prior written consent of salethe Company, disposition or other intended action by Lender with respect not to be unreasonably withheld, shall be entitled, but shall not be required, to assign its rights to act as Collateral Agent to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition Holder of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment greatest percentage of the Debt in outstanding aggregate principal amount of the Notes. Such assignment shall be effective upon acceptance by such priority Holder and proportions as Lender in its discretion such Holder shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof become the “Collateral Agent” for all purposes under this Note and the address of Lender (Secured Party) is as set forth on page one hereofSecurity Agreement.

Appears in 3 contracts

Sources: Purchase Agreement (Covad Communications Group Inc), Convertible Note (Earthlink Inc), Senior Secured Convertible Note (Covad Communications Group Inc)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower's organizational ID no. is _________.

Appears in 3 contracts

Sources: Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc), Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc), Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is both Lease constitutes a real property deed of trust security agreement pursuant to and a "security agreement" within in accordance with the meaning of the Uniform Commercial Code. The UCC covering all Property includes both real Collateral and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to LenderAccounts Collateral, as security for well as the Obligations (hereinafter defined), Authorization Collateral and any other property in or against which Landlord is granted a security interest or lien by the terms of this Lease (collectively, the “Lease Collateral”), and such security agreement, and the security interests and liens created in this Lease, shall survive the expiration or earlier termination of this Lease. Tenant hereby authorizes Landlord to file such financing statements, continuation statements and other documents as may be necessary or desirable to perfect or continue the perfection of Landlord’s security interests and liens in the Fixtures, the Equipment and the Personal Property Lease Collateral pursuant to the full extent that UCC. In addition, if required by Landlord at any time during the FixturesTerm, Tenant shall execute and deliver to Landlord, in form reasonably satisfactory to Landlord, additional security agreements, financing statements, fixture filings and such other documents as Landlord may reasonably require to perfect or continue the Equipment perfection of Landlord’s security interests and liens in the Personal Property may be subject to Lease Collateral. Upon the Uniform Commercial Code (said portion occurrence of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default or in connection with an Operational Transfer, Landlord shall occur and be continuing, Lender, in addition entitled to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted available to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting or available to a landlord under the generality laws of the foregoingState(s) where the applicable Leased Property(ies) is (are) located, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after Lease Collateral, including the occurrence and during right to sell the continuance of an Event of Default. Any notice of same at public or private sale, disposition or other intended action by Lender and, in connection with respect to any such sale, Tenant agrees that the Collateral sent to Borrower in accordance with the provisions hereof at least giving of ten (10) business days prior to such actiondays’ notice by Landlord, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds designating the time and place of any disposition public sale of the any Lease Collateral, or the time after which any part private sale or other intended disposition of any Lease Collateral is to be made, shall be deemed to be reasonable notice thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofTenant waives any other notice with respect thereto.

Appears in 2 contracts

Sources: Master Lease Agreement (Emeritus Corp\wa\), Master Lease Agreement (Emeritus Corp\wa\)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property, and Borrower hereby grants to Lender a security interest in all portions of the Property constituting personal property or fixtures under the UCC. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Lightstone Value Plus Real Estate Investment Trust, Inc.), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower Trustor hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Beneficiary after the occurrence and during the continuance of an Event of Default, Borrower Trustor shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feescosts, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable lawlaw or the Loan Agreement, constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Trustor (Debtor) is as set forth on page one hereof and the address of Lender Beneficiary (Secured Party) is as set forth on page one hereof. Trustor hereby authorizes Beneficiary to file or record any Uniform Commercial Code financing statements as Beneficiary deems to be reasonably necessary to perfect its security interest in the property described in this Section 1.03, and in the fixtures described in Section 1.04, without any signature of Trustor, and to file any amendments, modifications, assignments and terminations thereof, all without the signature of Trustor.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Terra Tech Corp.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Terra Tech Corp.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Trustee, in trust for the benefit of Lender, as security for the Obligations (hereinafter defined), a security interest in all of Borrower’s estate, right, title and interest in and to the Fixtures, the Equipment and the Personal Property and other property constituting the Property (including, without limitation, the Leases), whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (all of Borrower’s estate, right, title and interest in and to said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor's’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Inland Real Estate Income Trust, Inc.), Deed of Trust, Assignment of Leases and Rents and Security Agreement (Inland Real Estate Income Trust, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, Deed of Trust (TNP Strategic Retail Trust, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is both a real property deed of trust Security Instrument and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"“Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during During the continuance of an Event of Default, upon request or demand of Mortgagee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) in New York reasonably acceptable to LenderMortgagee. Borrower shall pay to Lender on Mortgagee within five (5) Business Days of promptly following written demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default(but excluding special, punitive, or consequential damages, unless asserted against Borrower by a third party). Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Borrower's (Debtor's) principal place , Borrower shall notify Mortgagee thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of business is Mortgagee’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Mortgagee shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as set forth Mortgagee reasonably shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations or decrease Borrower’s rights under the Loan Documents. Borrower hereby irrevocably appoints Mortgagee as its attorney‑in‑fact, coupled with an interest, to file with the appropriate public office on page one hereof its behalf any financing or other statements naming Mortgagee, as secured party, and Borrower, as debtor, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 2 contracts

Sources: Senior Loan Consolidated, Amended and Restated Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Strategic Opportunity REIT, Inc.), Building Loan Consolidated, Amended and Restated Mortgage, Assignment of Leases and Rents and Security Agreement (KBS Strategic Opportunity REIT, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Pebblebrook Hotel Trust), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Pebblebrook Hotel Trust)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Deed of Trust and Security Agreement (Koger Equity Inc), Leasehold Mortgage, Security Agreement and Fixture Filing (FelCor Lodging Trust Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of the Borrower in the Property. By executing and delivering this Security Instrument, the Borrower hereby grants to Lenderthe Administrative Agent, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lenderthe Administrative Agent, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender the Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender the Administrative Agent after the occurrence and during the continuance of an Event of Default, the Borrower shall, at its expense, assemble the Collateral and make it available to Lender the Administrative Agent at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Administrative Agent. The Borrower shall pay to Lender the Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender the Administrative Agent with respect to the Collateral sent to the Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to the Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender the Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender the Administrative Agent in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of the Borrower (Debtor) is as set forth on page one hereof and the address of Lender the Administrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Mortgage and Security Agreement, Mortgage and Security Agreement (Heartland Payment Systems Inc)

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. By Trustor by executing and delivering this Security Instrument, Borrower Deed of Trust has granted and hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code UCC (said such portion of the Trust Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral covered by this Deed of Trust. (Debtor'sb) principal place Trustor hereby absolutely and unconditionally pledges and assigns to Beneficiary as additional security all of business is as set forth on page one hereof Trustor's right, title and interest in, to and under the: (i) Tenant in Common Agreement, and (ii) the address Property and Asset Management Agreement ("MANAGEMENT AGREEMENT") among each entity constituting Trustor and Behringer Harvard TIC Management Services LP executed in connection with the Loan, (collectively, the "TENANCY IN COMMON AGREEMENTS"); provided that Beneficiary shall have no obligation or liability under any of Lender (Secured Party) is as set forth on page one hereofthe Tenancy In Common Agreements.

Appears in 2 contracts

Sources: Deed of Trust (Behringer Harvard Reit I Inc), Deed of Trust (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property, and Mortgagor hereby grants to Lender a security interest in all portions of the Property constituting personal property or fixtures under the UCC. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Mortgagor by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, to the extent allowed by Legal Requirements. the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Mortgage and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Mortgage and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff's sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Borrowing Agreement (U Haul International Inc), Loan Agreement (U Haul International Inc)

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. By Trustor by executing and delivering this Security Instrument, Borrower Deed of Trust has granted and hereby grants to LenderBeneficiary and Trustee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code (said portion of the Trust Property so subject to the Uniform Commercial Code being called in this paragraph the "COLLATERAL"). Trustor hereby agrees with Beneficiary to execute and deliver to Beneficiary, in form and substance satisfactory to Beneficiary, such financing statements and such further assurances as Beneficiary may from time to time, reasonably consider necessary to create, perfect, and preserve Beneficiary's security interest herein granted. This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. (b) If an Event of Default shall occur occur, Beneficiary and be continuing, LenderTrustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary or Trustee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary or Trustee, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary and Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary and Trustee on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Beneficiary and Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary and Trustee with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of any Trustor, such Trustor shall notify Beneficiary and Trustee thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Beneficiary's (Debtor's) principal place lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of business is additional Uniform Commercial Code forms or continuation statements, Trustor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Note, this Deed of Trust and any of the other Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the address Collateral covered by this Deed of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (First Potomac Realty Trust), Deed of Trust, Assignment of Leases and Rents and Security Agreement (First Potomac Realty Trust)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this paragraph 29 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all reasonable expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerMortgagor unless otherwise required by law. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: First Mortgage and Security Agreement (Century Properties Fund Xvi), First Mortgage and Security Agreement (Century Properties Fund Xii)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT II, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur occur, and shall be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence following and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Morgans Hotel Group Co.), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Morgans Hotel Group Co.)

Security Agreement. (a) This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"“Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of ▇▇▇▇▇▇▇▇, Borrower shall notify Lender thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of ▇▇▇▇▇▇’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's (Debtor's) principal place of business is ’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as set forth its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by ▇▇▇▇▇▇, as secured party, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 2 contracts

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Open End Mortgage and Security Agreement (Glimcher Realty Trust), Open End Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" ”, within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants the Mortgagor has granted to Lender, the Lender as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")Mortgaged Property. If an Event of Default shall occur and be continuingoccurs, the Lender, in addition to any other rights and remedies which it they may havehave and subject to the rights and remedies of other lenders in connection with the Existing Mortgages, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as the Lender may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of the Lender after and subject to the occurrence rights and during remedies of other lenders in connection with the continuance of an Event of DefaultExisting Mortgages, Borrower shall, the Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to the Lender at a convenient place (at the Land if tangible property) reasonably acceptable to the Lender. Borrower The Mortgagor shall pay to the Lender on demand any and all expenses, including reasonable legal expenses and attorneys' ’ fees (including in-house counsel fees), incurred or paid by the Lender in protecting its their and other Secured Parties’ interest in the Collateral Mortgaged Property and in enforcing its and other Secured Parties’ rights hereunder under this Mortgage with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultMortgaged Property. Any notice of sale, disposition or other intended action by the Lender with respect to the Collateral personal property comprising the Mortgaged Property which is sent to Borrower the Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Mortgagor. The proceeds of any disposition of the CollateralMortgaged Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by the Lender to the payment of the Debt as provided in the Purchase Agreement, subject to the rights and remedies of other lenders in connection with the Existing Mortgages. Without in any way limiting the generality of the immediately preceding paragraph or of the definition of Mortgaged Property, this Mortgage constitutes a fixture filing under Section 9-502 of the Uniform Commercial Code. For such priority purpose: (a) the “debtor” is Mortgagor and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business address is as set forth on page one hereof and the address given for it in the initial paragraph of Lender this Mortgage; (Secured Partyb) the “secured party” is as set forth the Lender, and their address for the purpose of obtaining information is the address given for it in the initial paragraph of this Mortgage; (c) the real estate to which the Fixtures are or are to become attached is the Mortgagor’s interest in the Premises described on page one hereofSCHEDULE A hereto; and (d) the record owner of such real estate is the Mortgagor.

Appears in 2 contracts

Sources: Mortgage and Security Agreement (Avalon GloboCare Corp.), Mortgage and Security Agreement (Avalon GloboCare Corp.)

Security Agreement. 2.12.1 This Security Instrument is both Deed of Trust shall also be a real property deed of trust security agreement between Trustor and a "security agreement" within the meaning Beneficiary covering that portion of the Mortgaged Property that constitutes personal property or fixtures (hereinafter collectively called “UCC Collateral”) governed by the Nevada Uniform Commercial Code. The Property includes both real Code (the “UCC”), and personal property as further security for the payment and all other rights and interestsperformance of the Secured Obligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower Trustor hereby grants to Lender, as security for the Obligations (hereinafter defined), Beneficiary a security interest in such portion of the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code UCC. In addition to Beneficiary’s other rights hereunder, Beneficiary shall have all rights of a secured party under the UCC. Trustor hereby authorizes the filing of all financing statements and such further assurances that may be reasonably required by Beneficiary to establish, create, perfect (said portion to the extent the same can be achieved by the filing of a financing statement) and maintain the validity and priority of Beneficiary’s security interests, and Trustor shall bear all reasonable costs thereof, including all UCC searches. Except as otherwise provided in the Credit Documents, if Beneficiary should dispose of any of the Mortgaged Property so subject comprising the UCC Collateral pursuant to the Uniform Commercial Code being called UCC, ten (10) Days’ prior written notice by Beneficiary to Trustor shall be deemed to be reasonable notice; provided, however, Beneficiary may dispose of such property in accordance with the "COLLATERAL")foreclosure procedures of this Deed of Trust in lieu of proceeding under the UCC. If Beneficiary may from time to time execute, deliver and/or file at Trustor’s expense, all continuation statements, termination statements, amendments, partial releases, or other instruments relating to all financing statements by and between Trustor and Beneficiary. Except as otherwise provided in the Credit Documents, if an Event of Default shall occur and be is continuing, Lender(a) Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demanddemand to the extent permitted by Governmental Rule, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, UCC including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon such UCC Collateral and (b) upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the UCC Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' fees, disbursements incurred or paid by Lender Beneficiary in protecting its the interest in the UCC Collateral and in enforcing its the rights hereunder with respect to such UCC Collateral. 2.12.2 This Deed of Trust shall constitute a fixture filing pursuant to NRS Section 104.9502, as amended and recodified from time to time. Some or all of the UCC Collateral after may be or become a fixture in which Beneficiary has a security interest under the occurrence security agreement set forth in Section 2.12.1 above (the “Security Agreement”). However, nothing herein shall, or shall be deemed to, create any lien or interest in favor of the Trustee in any UCC Collateral which is not a fixture. The rights, remedies and during interests of Beneficiary under this Deed of Trust and the continuance Security Agreement are independent and cumulative, and there shall be no merger of any lien hereunder with any security interest created by the Security Agreement. Beneficiary may elect to exercise or enforce any of its rights, remedies or interests under either or both this Deed of Trust or the Security Agreement as Beneficiary may from time to time deem appropriate. 2.12.3 Notwithstanding any other provision hereof, Beneficiary shall not be deemed to have accepted any property other than cash in satisfaction of any obligation of Trustor to Beneficiary unless Trustor shall make an Event express written election of Default. Any notice of salesaid remedy under NRS Section 104.9620, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice . Trustor agrees that Beneficiary shall have no obligation to Borrower. The proceeds of process or prepare any disposition of the Collateral, UCC Collateral for sale or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofother disposition.

Appears in 2 contracts

Sources: Credit Agreement (Fulcrum Bioenergy Inc), Credit Agreement (Fulcrum Bioenergy Inc)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), Mortgage shall constitute a security interest agreement as defined in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion “Code”) in the items described in the Granting Clauses of this Mortgage (“Collateral”). Any Collateral installed in or used in the Premises are to be used by the Borrower solely for Borrower’s business purposes or as the equipment and fixtures leased or furnished by the Borrower, as landlord, to tenants of the Property so subject Premises and such Collateral will be kept at the buildings on the Premises and will not be removed therefrom without the consent of the Lender and may be affixed to such buildings but will not be affixed to any other real estate. The remedies of the Lender hereunder are cumulative and separate, and the exercise of any one or more of the remedies provided for herein or under the Uniform Commercial Code being called shall not be construed as a waiver of any of the "COLLATERAL")other rights of the Lender including having any Collateral deemed part of the realty upon any foreclosure thereof. If an Event of Default shall occur and be continuing, Lender, in addition notice to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession intended disposition of the Collateral or any part thereofis required by law in a particular instance, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land notice shall be deemed commercially reasonable if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof given at least ten (10) business days prior to such action, shall, except intended disposition and may be given by advertisement in a newspaper accepted for legal publications either separately or as otherwise provided part of a notice given to foreclose the real property or may be given by applicable law, constitute reasonable private notice if such parties are known to BorrowerLender. The proceeds Neither the grant of any disposition a security interest pursuant to this Mortgage nor the filing of a financing statement pursuant to the Code shall ever impair the stated intention of this Mortgage that all Collateral comprising the Premises and at all times and for all purposes and in all proceedings both legal or equitable shall be regarded as part of the Collateral, real property conveyed and secured hereunder irrespective of whether such item is physically attached to the real property or any part thereof, may, except as otherwise such item is referred to or reflected in a financing statement. Borrower will on demand deliver all financing statements that may from time to time be required by applicable law, be applied by Lender to establish, perfect and continue the payment priority of Lender’s security interest in the Debt in such priority Collateral and proportions as shall pay all expenses incurred by Lender in its discretion connection with the renewal or extensions of any financing statements executed in connection with the Premises; and shall deem proper. give advance written notice of any proposed change in Borrower's (Debtor's) principal place ’s name, identity or structure and will execute and deliver to Lender prior to or concurrently with such change all additional financing statements that Lender may require to establish and perfect the priority of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofLender’s security interest.

Appears in 2 contracts

Sources: Future Advance Mortgage and Security Agreement (Great Plains Ethanol LLC), Future Advance Mortgage and Security Agreement (Great Plains Ethanol LLC)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Sources: Deed of Trust (TNP Strategic Retail Trust, Inc.), Deed of Trust (TNP Strategic Retail Trust, Inc.)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" ,” within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By The Mortgagor by executing and delivering this Security Instrument, Borrower hereby grants Mortgage has granted to Lenderthe Mortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the FixturesEquipment. If the Mortgagor shall default under the Note or this Mortgage, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as Lender the Mortgagee may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of Lender after the occurrence and during Mortgagee, the continuance of an Event of Default, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to Lender the Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Mortgagee. Borrower The Mortgagor shall pay to Lender the Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Mortgagee in protecting its interest in the Collateral Equipment and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultEquipment. Any notice of sale, disposition or other intended action by Lender the Mortgagee with respect to the Collateral Equipment sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralEquipment, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place If any change shall occur in the Mortgagor’s name, the Mortgagor shall promptly cause to be filed at its own expense, new financing statements as required under the Uniform Commercial Code to replace those on file in favor of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofMortgagee.

Appears in 2 contracts

Sources: Mortgage, Security Agreement and Assignment of Leases and Rents, Mortgage, Security Agreement and Assignment of Leases and Rents

Security Agreement. This Security Instrument is both a real property deed of trust and a "(a) As security agreement" within for the meaning Loan, the Lessee, as debtor, hereby grants to the Lessor, as secured party, for the benefit of the Uniform Commercial Code. The Property includes both real Secured Party, a security interest in all of the Lessee's right, title and interest in and to all personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in comprising the Property. By executing , whether now owned or hereafter acquired and delivering this Security Instrument, Borrower hereby grants to Lender, as security for all cash and non-cash proceeds (including insurance proceeds) and products thereof (the Obligations "Collateral"). (hereinafter defined), a security interest in b) If the FixturesLessee shall default hereunder, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, LenderLessor, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeCode as in effect at such time in New York, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender the Lessor may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at sell, exchange, lease or otherwise realize on or dispose of the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender the Lessor with respect to the Collateral sent to Borrower the Lessee in accordance with the provisions hereof at least ten (10) business seven days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Lessee, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Lessee within five days after receipt by the Lessee of such notice. The proceeds of any sale or disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Lessor to the payment of the Debt Loan in such order, priority and proportions as Lender the Lessor in its discretion shall deem proper. Borrower's The Lessee shall remain liable for any deficiency between the proceeds of any sale or other disposition of the Collateral and all unpaid amounts owed pursuant to the Loan. The filing of a copy of this Lease (Debtor'sor a memorandum hereof) principal place shall be deemed to constitute the filing of business is as set forth on page one hereof and a financing statement to perfect the address of Lender (Secured Party) is as set forth on page one hereof.security interest in

Appears in 2 contracts

Sources: Lease Agreement (Williams Communications Group Inc), Lease (Williams Communications Group Inc)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called in this paragraph 29 the "COLLATERALCollateral"). If an Event of Default shall occur occur, Lender and be continuing, LenderTrustee, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Defaultor Trustee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender and Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender and Trustee on demand any and all reasonable expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ and Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender or Trustee with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerBorrower unless otherwise required by law. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Sources: Deed of Trust, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Investors First Staged Equity L P), Deed of Trust, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Investors First Staged Equity L P)

Security Agreement. This Security Instrument is both To the extent the Mortgaged Property consists of UCC Collateral or items of personal property which are Fixtures under applicable Laws, this Mortgage shall also be construed as a real property deed of trust security agreement under the UCC. The Mortgagor, in order to secure the due and a "security agreement" within the meaning punctual payment and performance of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interestsObligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security Mortgagee for its benefit and for the Obligations (hereinafter defined)benefit of the Secured Parties, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment such UCC Collateral and the Personal Property may be subject to the Uniform Commercial Code Fixtures (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"excluding therefrom Excluded Property). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shallthe Mortgagee shall be entitled with respect to the UCC Collateral and Fixtures, to exercise all remedies hereunder or any other Loan Document or available under the UCC with respect thereto and all other remedies available under applicable law. Without limiting the foregoing, the UCC Collateral and Fixtures, may, at its expensethe Mortgagee’s option, (i) be sold hereunder together with any sale of any portion of the Mortgaged Property or otherwise, (ii) be sold separately pursuant to the UCC, or (iii) be dealt with by the Mortgagee in any other manner permitted under applicable Laws. The Mortgagee may require the Mortgagor to assemble the UCC Collateral and Fixtures, and make it available to Lender the Mortgagee at a convenient place (at to be designated by the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower shall pay to Lender on demand any The Mortgagor acknowledges and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance agrees that a disposition of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower such collateral in accordance with the provisions hereof at least Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof; provided, however, that the Mortgagee shall give the Mortgagor prior notice of the time and place of any intended disposition not less than the greater of (x) such notice as may be required by any other Loan Document, (y) applicable Laws or (z) ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofdays.

Appears in 2 contracts

Sources: Credit Agreement (Valvoline Inc), Credit Agreement (Ashland Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust to secure debt and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Fee and Leasehold Deed to Secure Debt and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) This Security Instrument Deed is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed, Borrower hereby has granted and thereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent of Borrower’s interest therein and to the extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said such portion of the Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERAL"“Collateral”). If Borrower hereby agrees with Lender to execute and deliver to Lender, in form and substance satisfactory to Lender, such financing statements and such further assurances as Lender may from time to time reasonably consider necessary to create, perfect or preserve Lender’s security interest therein granted. This Deed shall also be effective as a financing statement covering any other property and may be filed in any other appropriate filing or recording office. All or part of the Property are or are to become fixtures. During the continuance of an Event of Default shall occur and be continuingDefault, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to LenderLand. Borrower shall pay to Lender on demand any and all expenses, including Lender’s reasonable legal expenses and attorneys' fees, necessarily incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. In the event of any change in name, identity or structure of any Borrower's (Debtor's) principal place , such Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of business is Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall reasonably require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth on page one hereof Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Note, this Deed and the address of other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file, if Borrower fails to do so within fifteen (Secured Party15) is Business Days after notice thereof from Lender, with the appropriate public office on its behalf any financing or other statements signed only by Lender, as set forth on page one hereofsecured party, in connection with the Collateral covered by this Deed. (b) BORROWER HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY WAIVES ALL RIGHTS WHICH BORROWER HAS UNDER CHAPTER 14 OF TITLE 44 OF THE OFFICIAL CODE OF GEORGIA OR UNDER ANY SIMILAR PROVISION OF APPLICABLE LAW TO NOTICE AND TO A JUDICIAL HEARING PRIOR TO A WRIT OF POSSESSION ENTITLING LENDER, ITS SUCCESSORS AND ASSIGNS TO POSSESSION OF THE COLLATERAL UPON AN EVENT OF DEFAULT. WITHOUT LIMITING ANY OTHER RIGHT WHICH SECURED PARTY MAY HAVE, BORROWER CONSENTS THAT, IF LENDER FILES A PETITION FOR AN IMMEDIATE WRIT OF POSSESSION IN COMPLIANCE WITH SECTION ▇▇-▇▇-▇▇▇ AND ▇▇-▇▇▇-▇▇▇ OF THE OFFICIAL CODE OF GEORGIA OR UNDER ANY SIMILAR PROVISION OF APPLICABLE LAW AND THIS WAIVER OR A COPY HEREOF IS ALLEGED IN SUCH PETITION AND ATTACHED THERETO, THE COURT BEFORE WHICH SUCH PETITION IS FILED MAY DISPENSE WITH ALL RIGHTS AND PROCEDURES HEREIN WAIVED AND MAY ISSUE FORTHWITH AN IMMEDIATE WRIT OF POSSESSION IN ACCORDANCE WITH CHAPTER 14 OF TITLE 44 OF THE OFFICIAL CODE OF GEORGIA OR IN ACCORDANCE WITH ANY SIMILAR PROVISION OF APPLICABLE LAW, WITHOUT THE NECESSITY OF AN ACCOMPANYING BOND AS OTHERWISE REQUIRED BY SECTION ▇▇-▇▇-▇▇▇ OF THE OFFICIAL CODE OF GEORGIA OR IN ACCORDANCE WITH ANY SIMILAR PROVISION OF APPLICABLE LAW. BORROWER HEREBY ACKNOWLEDGES THAT IT HAS READ AND FULLY UNDERSTANDS THE TERMS OF THIS WAIVER AND THE EFFECT HEREOF.

Appears in 1 contract

Sources: Deed to Secure Debt, Assignment of Leases and Profits and Security Agreement (Wyndham International Inc)

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. By Trustor, by executing and delivering this Security Instrument, Borrower hereby Deed of Trust grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Indebtedness, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code (said such portion of the Trust Property so subject to the Uniform Commercial Code being called in this Paragraph the "COLLATERAL"). Trustor shall execute and deliver to Beneficiary, in form and substance satisfactory to Beneficiary, such financing statements and further assurances as Beneficiary may from time to time, reasonably request in order to create, perfect, and preserve the security interest(s) herein granted. This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code and shall cover all items of the Collateral that are or are to become fixtures. Information concerning the security interest(s) herein granted may be obtained from Beneficiary upon request. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, reasonably incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary or Trustee with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt Indebtedness in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's Trustor shall notify Beneficiary and Trustee of any change in name, identity or structure of Trustor and shall promptly execute, file and record, at its sole cost and expense, such Uniform Commercial Code forms as are necessary to maintain the priority of the lien of Beneficiary and Trustee upon and security interest in the Collateral. In addition, Trustor shall promptly execute, file and record such additional Uniform Commercial Code forms or continuation statements as Beneficiary or Trustee shall deem necessary and shall pay all expenses and fees in connection with the filing and recording thereof, provided that no such additional documents shall increase the obligations of Trustor under the Note, this Deed of Trust or the other Loan Documents. Trustor hereby grants to Beneficiary and Trustee an irrevocable power of attorney, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary or Trustee, as secured party, in connection with the Collateral covered by this Deed of Trust. (Debtor'sb) principal place That portion of business the Trust Property consisting of personal property and equipment, shall be owned by Trustor and shall not be the subject matter of any lease or other transaction whereby the ownership or any beneficial interest in any of such property is held by any person or entity other than Trustor nor shall Trustor create or suffer to be created any security interest covering any such property as set forth on page one hereof and it may from time to time be replaced, other than the address of Lender (Secured Party) is as set forth on page one hereofsecurity interest created herein.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Mid America Capital Partners L P)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one (1) hereof and the address of Lender (Secured Partysecured party) is as set forth on page one (1) hereof.

Appears in 1 contract

Sources: Deed of Trust

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Individual Borrower in the Property. By executing and delivering this Security Instrument, Individual Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, thereof and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Individual Borrower shall, at its expense, use commercially reasonable efforts to assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Individual Borrower shall pay to Lender on demand any and all reasonable out-of- pocket expenses, including reasonable legal expenses and attorneys' fees, actually incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Individual Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Individual Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Individual Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement, and Fixture Filing (Griffin Capital Essential Asset REIT, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Cedar Shopping Centers Inc)

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower Grantor hereby grants to LenderAgent, as security for the Secured Obligations (as hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Personal Property Collateral”). If an Event of Default shall occur and be continuing, LenderAgent, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Personal Property Collateral or any part thereof, and to take such other measures as Lender Agent may deem necessary for the care, protection and preservation of the Personal Property Collateral. Upon request or demand of Lender Agent after the occurrence and during the continuance of an Event of Default, Borrower Grantor shall, at its expense, assemble the Personal Property Collateral and make it available to Lender Agent at a convenient place (at the Land if tangible property) reasonably acceptable to LenderAgent. Borrower Grantor shall pay to Lender Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Agent, individually and/or as agent for the Lender Group and any Bank Product Provider (collectively, the “Secured Parties”), in protecting its Agent’s and any other Secured Party’s interest in the Personal Property Collateral and in enforcing its rights hereunder with respect to the Personal Property Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Agent with respect to the Personal Property Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Personal Property Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Agent to the payment of the Debt Secured Obligations in such priority and proportions as Lender Agent in its discretion shall deem proper. Borrower's Grantor’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender Agent (Secured Partysecured party) is as set forth on page one hereof. To the extent permitted by law, Grantor and Agent agree that with respect to all items of Personal Property which are or will become fixtures on the Land, this Deed of Trust, upon recording or registration in the real estate records of the proper office, shall constitute a “fixture filing” within the meaning of Sections 9313 and 9402 of the California Commercial Code. Grantor is the record owner of the Land. The foregoing notwithstanding, to the extent of a conflict between the terms of this Section 1.3(a) and the terms of the Security Agreement, the terms of the Security Agreement shall control. (b) By exercising any of Agent’s rights or remedies under Section 1.3, Grantor acknowledges and agrees that Agent shall not be deemed to have exercised any equitable right of setoff, foreclosed any statutory banker’s lien, initiated or prosecuted any “action” to enforce the rights and obligations secured by this Deed of Trust, or the loan documents, as the term “action” is used in California Code of Civil Procedure Section 726 (“Section 726”), or to have violated the “Security First” principle of Section 726. Accordingly, the exercise of any or all of Agent’s rights and remedies under Section 1.3 shall not in any way prejudice or affect Agent’s right to initiate and complete a judicial or non-judicial foreclosure under this Deed of Trust. This Deed of Trust evidences the consensual granting of a personal property security interest in any reserves as permitted by the Uniform Commercial Code; the parties do not intend that the exercise by Agent of any of its rights or remedies hereunder shall have any different consequences under Section 726 than the exercise of rights or remedies under any other security agreement under which a secured party has been granted a security interest in other types of personal property.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Dixie Group Inc)

Security Agreement. This Security Instrument is both a real ------------------ property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code adopted and enacted by the state or states where any of the Mortgaged Property is located (the "Uniform Commercial Code"), made by and ----------------------- between Borrower, as debtor, and Lender, as secured party, and by and between Borrower, as debtor and Trustee, as secured party. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants h▇▇▇▇▇ ▇▇ants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called herein referred to as the "COLLATERALCollateral"). If an ---------- Event of Default shall occur occur, Lender and be continuing, LenderTrustee, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Trustee or Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Defaultor Trustee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderLender or Trustee. Borrower shall pay to Lender or Trustee on demand any and all expenses, including reasonable legal expenses and attorneys' attorney fees, incurred or paid by Lender or Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender or Trustee with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The Collateral may be sold in such manner, portions, order or parcels as Lender may determine, with or without having first taken possession of same. The right of sale arising out of any Event of Default shall not be exhausted by any one or more sales or attempted sales, any other action, proceeding, or other exercise of a remedy, and the liens granted by this Security Instrument shall continue unimpaired. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Promissory Note (Alexander & Baldwin Inc)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial CodeCode of the State. The Secured Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Secured Property. By Grantor, by executing and delivering this Security Instrument, Borrower hereby Deed of Trust grants to LenderBeneficiary and Trustee (to the extent provided herein), as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Secured Property to the full extent that the Fixtures, the Equipment and the Personal Secured Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")Code. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary and/or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to sell the Personal Property at public or private sale, the right to take possession of the Collateral Personal Property or any part thereof, and to take such other measures as Lender Beneficiary and/or Trustee may deem necessary for the care, protection and preservation of the CollateralPersonal Property. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary and/or Trustee, Borrower shall, Grantor shall at its expense, expense assemble the Collateral Personal Property and make it available to Lender Beneficiary and/or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary and/or Trustee. Borrower Grantor shall pay to Lender Beneficiary and Trustee on demand any and all expenses, including reasonable legal expenses and attorneys' fees’ fees and disbursements, incurred or paid by Lender Beneficiary and Trustee in protecting its interest in the Collateral Personal Property and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultPersonal Property. Any notice of sale, disposition or other intended action by Lender Beneficiary and/or Trustee with respect to the Collateral Personal Property sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such actionsale, shall, except as otherwise provided by applicable law, disposition or action shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the CollateralPersonal Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt Obligations in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place WCSR 31792892 62 Deed of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.Trust Loan No. 374-0551

Appears in 1 contract

Sources: Deed of Trust (Trade Street Residential, Inc.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon a default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT I, Inc.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the PropertyProperty including all accounts established by Agent pursuant to the Credit Agreement, the Security Agreement and any other Credit Document. By executing and delivering this Security InstrumentMortgage, Borrower Mortgagor hereby grants to LenderAgent, for the benefit of the Secured Parties, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderAgent, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Agent may deem necessary for the care, protection and preservation of the Collateral. Upon written request or demand of Lender Agent after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Agent at a convenient place (at the Land if tangible property) reasonably acceptable to LenderAgent. Borrower Mortgagor shall pay to Lender on Agent within five (5) Business Days following written demand any and all reasonable, actual, fees and out-of-pocket expenses, including reasonable legal expenses and attorneys' fees’ fees and costs, incurred or paid by Lender Agent or the Secured Parties in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Agent with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten five (105) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The Upon the occurrence and during the continuance of an Event of Default, the proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, the Credit Agreement or the Security Agreement, be applied by Lender Agent to the payment of the Debt Obligations in such priority and proportions as Lender Agent in its discretion shall deem proper. Borrower's Mortgagor’s (Debtor'sdebtor’s) principal place of business is as set forth on the first page one hereof and the address of Lender Agent (Secured Partysecured party) is as set forth on the first page one hereof.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (BlueLinx Holdings Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust (TNP Strategic Retail Trust, Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower Grantor hereby grants to Beneficiary (for the benefit of Lender), as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Beneficiary after the occurrence and during the continuance of an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Grantor shall pay to Lender Beneficiary (for the benefit of Lender) on demand any and all expenses, including reasonable legal expenses documented, out-of-pocket attorneys’ fees and attorneys' feescosts, incurred or paid by Lender or Beneficiary in protecting its Beneficiary’s interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten five (105) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Grantor (Debtor) is as set forth on page one hereof and the address of Lender Beneficiary (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust

Security Agreement. This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial CodeCode of the State. The Secured Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Secured Property. By Grantor, by executing and delivering this Security Instrument, Borrower hereby Deed of Trust grants to LenderBeneficiary and Trustee (to the extent provided herein), as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Secured Property to the full extent that the Fixtures, the Equipment and the Personal Secured Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")Code. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary and/or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to sell the Personal Property at public or private sale, the right to take possession of the Collateral Personal Property or any part thereof, and to take such other measures as Lender Beneficiary and/or Trustee may deem necessary for the care, protection and preservation of the CollateralPersonal Property. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary and/or Trustee, Borrower shall, Grantor shall at its expense, expense assemble the Collateral Personal Property and make it available to Lender Beneficiary and/or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary and/or Trustee. Borrower Grantor shall pay to Lender Beneficiary and Trustee on demand any and all expenses, including reasonable legal expenses and attorneys' fees’ fees and disbursements, incurred or paid by Lender Beneficiary and Trustee in protecting its interest in the Collateral Personal Property and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultPersonal Property. Any notice of sale, disposition or other intended action by Lender Beneficiary and/or Trustee with respect to the Collateral Personal Property sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such actionsale, shall, except as otherwise provided by applicable law, disposition or action shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the CollateralPersonal Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt Obligations in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place WCSR 31223371 63 Deed of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.Trust Loan No. 374-0518

Appears in 1 contract

Sources: Deed of Trust (Trade Street Residential, Inc.)

Security Agreement. (a) This Security Instrument is Deed of Trust constitutes both a real property mortgage or deed of trust and a "security agreement" ,” within the meaning of the Uniform Commercial Code. The Texas UCC, and the Trust Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Grantor in the Trust Property. By The Grantor by executing and delivering this Security Instrument, Borrower hereby grants Deed of Trust has granted to Lenderthe Beneficiary, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")UCC Collateral. If an Event of Default shall occur and be continuinghereunder, Lenderthe Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeTexas UCC, including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender the Beneficiary may deem necessary for the care, protection and preservation of the UCC Collateral. Upon request or demand of Lender after the occurrence and during Beneficiary, the continuance of an Event of Default, Borrower shall, Grantor shall at its expense, expense assemble the UCC Collateral and make it available to Lender the Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Beneficiary. Borrower The Grantor shall pay to Lender the Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Beneficiary in protecting its interest in the UCC Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultUCC Collateral. Any notice of sale, disposition or other intended action by Lender the Beneficiary with respect to the UCC Collateral sent to Borrower the Grantor in accordance with the provisions hereof of this Deed of Trust at least ten (10) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Grantor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Texas UCC unless objected to in writing by the Grantor within five (5) days after receipt by the Grantor of such notice. The proceeds of any sale or disposition of the UCC Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Beneficiary to the payment of the Debt Obligations in such order, priority and proportions as Lender the Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place If any change shall occur in the Grantor’s name, the Grantor shall promptly cause to be filed at its own expense, new financing statements as required under the Texas UCC to replace those on file in favor of business is as set forth on page one hereof the Beneficiary. Conflicts between this Paragraph 28 and any provision of the Security Agreement of even date herewith between the Grantor and the address Beneficiary shall be resolved in favor of Lender the Security Agreement. (Secured Partyb) Certain of the UCC Collateral is or will become “fixtures” (as set forth on page one hereofthat term is defined in the UCC), and when this Deed of Trust is filed for record in the real estate records of the county where such fixtures are situated, it shall also automatically operate as a financing statement upon such of the UCC Collateral which is or may become fixtures.

Appears in 1 contract

Sources: Deed of Trust (Smith & Wollensky Restaurant Group Inc)

Security Agreement. This Security Instrument is both a real property mortgage or deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to LenderLender and Trustee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderLender or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender or Trustee after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender or Trustee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender ▇▇▇▇▇▇ with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust and Security Agreement (Maguire Properties Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff's sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (CNL Hotels & Resorts, Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feescosts, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any To the extent permitted by law, any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten thirty (1030) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust (Glimcher Realty Trust)

Security Agreement. This Security Instrument Deed of Trust is both a mortgage ------------------- of real property deed and a grant of trust a security interest in personal property, and shall constitute and serve as a "Security Agreement" and a "security agreementfixture filing" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower uniform commercial code as adopted in the Propertystate wherein the Premises are located ("UCC"). By executing and delivering this Security Instrument, Borrower Grantor has hereby grants to Lender, as security for the Obligations (hereinafter defined), granted unto --- Beneficiary a security interest in and to all the FixturesTrust Property described in this Deed of Trust that is not real property as further security for the payment and performance of the Mortgaged Obligations, and this Deed of Trust shall constitute a financing statement under the Equipment UCC, with Grantor as the "debtor" and Beneficiary as the Personal Property "secured party". Simultaneously with the recording of this Deed of Trust, Grantor has filed or will file UCC financing statements, and will file continuation statements prior to the full extent lapse thereof, at the appropriate offices in the state in which the Premises are located to perfect the security interest granted by this Deed of Trust in all the Trust Property that the Fixturesis not real property. Grantor hereby appoints Beneficiary as its true and lawful attorney-in-fact and agent, the Equipment for Grantor and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur in its name, place and be continuing, Lenderstead, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights capacities, to execute any document and remedies granted to a secured party upon default under file the Uniform Commercial Code, including, without limiting same in the generality of appropriate offices to perfect the foregoing, security interest contemplated by the right preceding sentence (to take possession of the Collateral or any part thereofextent it may lawfully do so), and to take such other measures as Lender may deem perform each and every act and thing reasonably requisite and necessary for to be done to perfect the care, protection and preservation of security interest contemplated by the Collateralpreceding sentence. Upon request or demand of Lender after Prior to the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble Beneficiary shall provide Grantor with the Collateral and make it available reasonable ability to Lender at a convenient place (at take the Land if tangible property) reasonably acceptable actions required by the previous sentence before acting pursuant to Lenderthe power of attorney granted pursuant hereto. Borrower Beneficiary shall pay to Lender on demand any and have all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition part of the CollateralTrust Property that is the subject of a security interest afforded by the UCC in addition to, or any part thereofbut not in limitation of, may, except as otherwise required by applicable law, be applied by Lender to the payment of other rights afforded Beneficiary hereunder and under the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofSecurity Agreement.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Fixture Filing and Security Agreement (Jafra Cosmetics International Sa De Cv)

Security Agreement. This Security Instrument is both To the extent the Mortgaged Property consists of UCC Collateral or items of personal property which are or are to become Fixtures under applicable law, this Mortgage shall also be construed as a real property deed of trust security agreement under the UCC. The Mortgagor, in order to secure the due and a "security agreement" within the meaning punctual payment and performance of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interestsSecured Obligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security the Mortgagee for its benefit and for the Obligations (hereinafter defined)benefit of the Secured Parties, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection UCC Collateral and preservation of the CollateralFixtures. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shallthe Mortgagee shall be entitled with respect to the UCC Collateral and Fixtures to exercise all remedies hereunder or any other Notes Document or available under the UCC with respect thereto and all other remedies available under applicable law. Without limiting the foregoing, the UCC Collateral and Fixtures may, at its expensethe Mortgagee’s option, (i) be sold hereunder together with any sale of any portion of the Mortgaged Property or otherwise, (ii) be sold separately pursuant to the UCC, or (iii) be dealt with by the Mortgagee in any other manner permitted under applicable law. The Mortgagee may require the Mortgagor to assemble the UCC Collateral or Fixtures and make it available to Lender the Mortgagee at a convenient place (at to be designated by the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower shall pay to Lender on demand any The Mortgagor acknowledges and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance agrees that a disposition of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower such collateral in accordance with the provisions hereof at least Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof; provided, however, that the Mortgagee shall give the Mortgagor not less than ten (10) business days days’ prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of the time and place of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofintended disposition.

Appears in 1 contract

Sources: Mortgage Modification Agreement (New Enterprise Stone & Lime Co., Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and shall be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence following and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Agreement of Consolidation and Modification of Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (Morgans Hotel Group Co.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to MERS, as nominee of Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Acadia Realty Trust)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to MERS, as nominee of Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrowers organizational ID no. is 3955516.

Appears in 1 contract

Sources: Deed of Trust and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Grantor by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Grantor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (RLJ Lodging Trust)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, shall except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust (FelCor Lodging Trust Inc)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement," within the meaning of the Uniform Commercial Code. The Property UCC, and the Collateral includes both real and personal property any and all other rights and interests, whether tangible or intangible in nature, of Borrower each Mortgagor in the PropertyCollateral. By Information relative to the security interest created hereby may be obtained by application to Mortgagee at the address provided in the introductory clause. Each Mortgagor, by executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, has granted as security for the Secured Obligations (hereinafter defined), a lien on and security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion such of the Property so subject to Collateral as is governed by the Uniform Commercial Code being called the "COLLATERAL")UCC in favor of Mortgagee. If an During a Trigger Event of Default shall occur and be continuingPeriod, LenderMortgagee, in addition to any other rights and remedies which that it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party Mortgagee upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of such of the Collateral as is governed by the UCC or any part thereofthereof and such other rights specified in Section 21(a)(ii)(C), and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateralthereof. Upon request or demand of Lender after Mortgagee, the occurrence and during the continuance of an Event of Default, Borrower shall, Company shall at its expense, expense assemble such of the Collateral as is governed by the UCC and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender Mortgagee on demand and shall reimburse Mortgagee for any and all expensesexpense, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in such of the Collateral as is governed by the UCC and in enforcing its the rights granted hereunder with respect to such of the Collateral after as is governed by the occurrence and during the continuance of an Event of DefaultUCC. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to such of the Collateral as is governed by the UCC sent to Borrower either Mortgagor in accordance with the provisions hereof of this Mortgage at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, action shall constitute reasonable notice to Borrowersuch Mortgagor. Any method of sale or disposition or other intended action in accordance with the UCC shall conclusively be deemed to be commercially reasonable within the meaning of the UCC unless objected to in writing by either the Company or the IDB within ten (10) days after receipt by such Mortgagor of such notice. The proceeds of any sale or disposition of such of the CollateralCollateral as is governed by the UCC, or any part thereof, may, except as otherwise required by applicable law, shall be applied by Lender Mortgagee to the payment of the Debt Secured Obligations in such order, priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page in Article VI of the Intercreditor Agreement. Notwithstanding anything contained in this Section 16 to the contrary, with respect to any Collateral that is also defined as "Collateral" under the Security Agreement, Mortgagee hereby reserves, and Mortgagee shall be entitled to exercise, each of its rights, powers and remedies under the Security Agreement with respect to such Collateral. At the request of Mortgagee upon advice of counsel, each Mortgagor will execute one hereof or more Financing Statements and renewals and amendments thereof pursuant to the UCC of any jurisdiction deemed applicable by Mortgagee in form satisfactory to Mortgagee, and the address Company will pay the cost of Lender filing the same in all public offices wherever filing is deemed by Mortgagee to be necessary or desirable. The Company covenants to execute and deliver Mortgagee, upon demand, such additional assurances, writings and other instruments as may be reasonably required by Mortgagee to effect the purpose hereof or to perfect the interest of Mortgagee in any security hereby given, including a copy of any opinion it may deliver to the Indenture Trustee in connection with the Indenture and a reliance letter addressed to it in connection therewith. Each Mortgagor hereby appoints (such appointment being coupled with an interest), until the Secured Party) is Obligations are paid in full, Mortgagee as set forth on page one hereofattorney-in-fact for such Mortgagor and to execute in the name thereof any financing statements or other comparable documents reasonably deemed by Mortgagee to be necessary or desirable to perfect or protect or continue the lien and security interest hereby granted. Each Mortgagor hereby ratifies all that Mortgagee shall do or cause to be done as such Mortgagor's attorney-in-fact consistent with the foregoing.

Appears in 1 contract

Sources: Leasehold Mortgage, Assignment of Leases, Rents, Issues and Profits (Mobile Energy Services Co LLC)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. By Trustor by executing and delivering this Security Instrument, Borrower Deed of Trust has granted and hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements (Debtor'sbe they unsigned or signed only by Beneficiary as secured party) principal place in connection with the Collateral covered by this Deed of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 1 contract

Sources: Deed of Trust (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within With respect to the meaning Personal Property or any portion of the Uniform Commercial Code. The Property includes both real Trust Estate which constitutes fixtures or other property governed by the UCC, this Deed of Trust shall constitute a security agreement between Debtor as the debtor and personal property Beneficiary as the secured party, and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower Debtor hereby grants to Lender, as security for the Obligations (hereinafter defined), Beneficiary a security interest in such portion of the FixturesTrust Estate. Cumulative of all other rights of Beneficiary hereunder, Beneficiary shall have all of the Equipment and rights conferred upon secured parties by the Personal Property to the full extent that the FixturesUCC, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion express provisions of this Deed of Trust. Debtor will execute and deliver to Beneficiary all financing statements that may from time to time be required by Beneficiary to establish and maintain the validity and priority of the Property so subject security interest of Beneficiary, or any modification thereof, and pay all costs and expenses of any searches reasonably required by Beneficiary. Subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event express provisions of Default shall occur and be continuingthis Deed of Trust, Lender, in addition to any other rights and remedies which it may have, shall have and Beneficiary may exercise immediately and without demand, any and or all rights and of the remedies granted to of a secured party upon default available to it under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right UCC with respect to take possession of the Collateral or any part thereofsuch property, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence it is expressly agreed that if upon and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available Default Beneficiary should proceed to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance dispose of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower such property in accordance with the provisions hereof of the UCC, 10 days' notice by Beneficiary to Debtor shall be deemed to be reasonable notice under any provision of the UCC requiring such notice; provided, however, that Beneficiary may at least ten (10) its option dispose of such property in accordance with Beneficiary's rights and remedies with respect to the real property pursuant to the provisions of this Deed of Trust, in lieu of proceeding under the UCC. Debtor shall give advance notice in writing to Beneficiary of any proposed change in Debtor's name, identity, or business days form or structure and will execute and deliver to Beneficiary, prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds or concurrently with the occurrence of any disposition such change, all additional financing statements that Beneficiary may require to establish and maintain the validity and priority of Beneficiary's security interest with respect to any of the Collateral, Trust Estate described or any part thereof, may, except as otherwise required by applicable law, be applied by Lender referred to herein. Some of the items of the Trust Estate described herein are goods that are or are to become fixtures related to the payment Site, and it is intended that as to those goods, this Deed of Trust shall be effective as a financing statement filed as a fixture filing from the date of its filing for record in the real estate records of the Debt county in such priority and proportions which the Trust Estate is situated. Information concerning the security interest created by this instrument may be obtained from Beneficiary, as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and secured party, at the address of Lender (Secured Party) Beneficiary stated in the introductory paragraph of this Deed of Trust. The mailing address of Debtor, as debtor, is as set forth on page one hereofstated in the introductory paragraph of this Deed of Trust.

Appears in 1 contract

Sources: Loan Agreement (Rc Arbys Corp)

Security Agreement. (a) This Security Instrument is constitutes both a real property deed of trust mortgage and a "security agreement," within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Mortgaged Property. By Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Building Equipment and hereby pledges to Lender any and all monies now or hereafter held by ▇▇▇▇▇▇ as additional security for the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")Debt until expended or applied as provided in this Instrument. If an Event of a Default shall occur and be continuingoccurs under the Note, this Instrument or the Loan Documents, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Building Equipment or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the CollateralBuilding Equipment. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral Building Equipment and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral Building Equipment and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultBuilding Equipment. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral Building Equipment sent to Borrower in accordance with the provisions hereof of this Instrument at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by Borrower within five (5) days after receipt by Borrower of such notice. The proceeds of any sale or disposition of the CollateralBuilding Equipment, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such order, priority and proportions as Lender in its discretion shall deem proper. . (b) Borrower warrants that (i) Borrower's (that is, "Debtor's") name, identity or corporate structure and residence or principal place of business is are as set forth on page one hereof in Section 1.15(c) hereof; (ii) Borrower (that is, "Debtor") has been using or operating under said name, identity or corporate structure without change for the time period set forth in Section 1.15(c) hereof; and (iii) the location of the collateral is upon the Real Property. Borrower covenants and agrees that ▇▇▇▇▇▇▇▇ will furnish Lender with notice of any change in the matters addressed by clauses (i) or (iii) of this Section 1.15(b) within thirty (30) days of the effective date of any such change and Borrower will promptly execute any financing statements or other instruments deemed necessary by ▇▇▇▇▇▇ to prevent any filed financing statement from becoming misleading or losing its perfected status. (c) The information contained in this Section 1.15(c) is provided in order that this Instrument shall, to the extent permitted by applicable law, comply with the requirements of the Uniform Commercial Code, as enacted in the State of Minnesota, for instruments to be filed as financing statements. The name of the "Debtor" and, as provided to Borrower by ▇▇▇▇▇▇, the name of the "Secured Party," the identity or corporate structure and residence or principal place of business of "Debtor," and the address of Lender (Secured Party) is time period for which "Debtor" has been using or operating under said name and identity or corporate structure without change, are as set forth on page one in Schedule 1 of EXHIBIT C attached hereto and by this reference made a part hereof; as provided to Borrower by ▇▇▇▇▇▇, the name of the mailing address of the "Secured Party" from which information concerning the security interest may be obtained, and the mailing address of "Debtor," are as set forth in Schedule 2 of said EXHIBIT C attached hereto; and a statement indicating the types, or describing the items, of collateral is set forth hereinabove.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Paper Warehouse Inc)

Security Agreement. (a) This Security Instrument Mortgage is both a real property deed of trust Mortgage and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"“Collateral”). This Mortgage shall also constitute a “fixture filing” for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Mortgage covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Mortgage. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Borrower's , Borrower shall notify Lender thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements (Debtor'sbe they unsigned or signed only by Lender, as secured party) principal place of business is as set forth on page one hereof and in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Mortgage.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur under the Notes or this Mortgage, the Mortgagee and be continuing, Lenderthe Collateral Agent on behalf of the Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Mortgaged Property or any part thereof, and to take such other measures as Lender the Mortgagee or the Collateral Agent may deem necessary for the care, protection and preservation of the CollateralMortgaged Property. Upon request or demand of Lender after the occurrence and during Collateral Agent, the continuance of an Event of Default, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral Mortgaged Property and make it available to Lender the Collateral Agent at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Collateral Agent. Borrower The Mortgagor shall pay to Lender the Collateral Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and Agent in enforcing or exercising its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultMortgaged Property. Any notice of sale, disposition or other intended action by Lender the Mortgagee or Collateral Agent with respect to the Collateral Mortgaged Property sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralMortgaged Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. BorrowerIf any change shall occur in the Mortgagor's (Debtor's) principal place name, the Mortgagor shall promptly cause to be filed at its own expense, new financing statements as required under the Uniform Commercial Code to replace those on file in favor of business is as set forth the Mortgagee or Collateral Agent on page one hereof and the address behalf of Lender (Secured Party) is as set forth on page one hereofMortgagee.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Assignment of Leases and Rents (Nexmed Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code adopted and enacted by the state or states where any of the Mortgaged Property is located (the "Uniform Commercial Code"), made by and between Borrower, as debtor, and Lender, as secured party. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called herein referred to as the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of MCF 415 Mortgage (AL) Last revised 7/5/05 the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' attorney fees, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its Lender's rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The Collateral may be sold in such manner, portions, order or parcels as Lender may determine, with or without having first taken possession of same. The right of sale arising out of any Event of Default shall not be exhausted by any one or more sales or attempted sales, any other action, proceeding, or other exercise of a remedy, and the liens granted by this Security Instrument shall continue unimpaired. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Plastipak Holdings Inc)

Security Agreement. This Security Instrument is both a real property deed of trust to secure debt and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security Instrument, Borrower Grantor hereby grants to LenderAdministrative Agent, for the benefit of Administrative Agent and the Lenders, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccurs, LenderAdministrative Agent, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Administrative Agent after the occurrence occurrence, and during the continuance continuance, of an Event of Default, Borrower shallGrantor will, at its expense, assemble the Collateral and make it available to Lender Administrative Agent at a convenient place (at the Land if tangible property) reasonably acceptable to LenderAdministrative Agent. Borrower shall Grantor will pay to Lender Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence occurrence, and during the continuance continuance, of an Event of Default. Any notice of sale, disposition or other intended action by Lender Administrative Agent with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days 10 Business Days prior to such action, shallwill, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender Administrative Agent in its discretion shall deem deems proper. Borrower's (Debtor's) The principal place of business of Grantor (Debtor) is as set forth on page one hereof and the address of Lender Administrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed to Secure Debt, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust III, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all A rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. BorrowerMortgagor's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Open End Mortgage and Security Agreement (Cedar Income Fund LTD /Md/)

Security Agreement. (i) This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Trust Property. By This Deed of Trust is filed as a fixture filing and covers goods which are or are to become fixtures on the Trust Property. Grantor by executing and delivering this Security Instrument, Borrower hereby grants Deed of Trust has granted to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code UCC of the State in which the Trust Property is located (said portion of the Trust Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of Beneficiary following an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Grantor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff's sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent given to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. (ii) The mention in a financing statement filed in the records normally pertaining to personal property of any portion of the Trust Property shall not derogate from or impair in any manner the intention of this Deed of Trust. BorrowerBeneficiary hereby declares that all items of Collateral are part of the real property encumbered hereby to the fullest extent permitted by law, regardless of whether any such item is physically attached to the Improvements or whether serial numbers are used for the better identification of certain items. Specifically, the mention in any such financing statement of any items included in the Trust 134 Property shall not be construed to alter, impair or impugn any rights of Beneficiary as determined by this Deed of Trust or the priority of Beneficiary's lien upon and security interest in the Trust Property in the event that notice of Beneficiary's priority of interest as to any portion of the Trust Property is required to be filed in accordance with the UCC to be effective against or take priority over the interest of any particular class of persons, including the federal government or any subdivision or instrumentality thereof. (Debtor'sb) principal place Grantor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral covered by this Deed of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 1 contract

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Prime Retail Inc)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur under the Notes or this Mortgage, the Mortgagee and be continuing, Lenderthe Collateral Agent on behalf of the Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Mortgaged Property or any part thereof, and to take such other measures as Lender the Mortgagee or the Collateral Agent may deem necessary for the care, protection and preservation of the CollateralMortgaged Property. Upon request or demand of Lender after the occurrence and during Collateral Agent, the continuance of an Event of Default, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral Mortgaged Property and make it available to Lender the Collateral Agent at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Collateral Agent. Borrower The Mortgagor shall pay to Lender the Collateral Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and Agent in enforcing or exercising its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultMortgaged Property. Any notice of sale, disposition or other intended action by Lender the Mortgagee or Collateral Agent with respect to the Collateral Mortgaged Property sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralMortgaged Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. BorrowerIf any change shall occur in the Mortgagor's (Debtor's) principal place name, the Mortgagor shall promptly cause to be filed at its own expense, new financing statements as required under the Uniform Commercial Code to replace those on file in favor of business is as set forth the Mortgagee or Collateral Agent on page one hereof and the address behalf of Lender (Secured Party) is as set forth on page one hereofMortgagee.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Assignment of Leases and Rents (Nexmed Inc)

Security Agreement. (a) This Security Instrument Agreement is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")UCC. If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees’ fees and all transfer taxes, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, action shall constitute reasonable notice to Borrower. (b) Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as secured party, or, to the extent permitted under the UCC, unsigned, in connection with the Collateral covered by this Agreement. Such financing statements may, at the option of Lender, describe the Collateral as “all assets” or “all personal property” of Borrower. (c) Borrower will furnish to Lender from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Lender may reasonably request, all in reasonable detail. (d) The proceeds powers conferred on Lender hereunder are solely to protect Lender’s interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any disposition Collateral in its possession and the accounting for moneys actually received by it hereunder, Lender shall have no duty (and neither Lender nor any of the its partners, members, officers, directors, employees or agents shall be responsible to Borrower for any act or failure to act) as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not Lender has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any part thereof, may, except as otherwise required by applicable law, other rights pertaining to any Collateral. Lender shall be applied by Lender deemed to have exercised reasonable care in the payment custody and preservation of the Debt in such priority and proportions as Lender any Collateral in its discretion shall deem proper. Borrower's (Debtor's) principal place of business possession if such Collateral is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofaccorded treatment substantially equal to that which it accords its own property.

Appears in 1 contract

Sources: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.)

Security Agreement. This Security Instrument is Deed of Trust constitutes both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Code of the State of California and the Trust Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. By Trustor, by executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants has granted to LenderBeneficiary, as security for the Obligations (hereinafter defined)Obligations, a security interest in such of the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to as is governed by the Uniform Commercial Code (said portion Code. Upon the occurrence and continuation of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuinghereunder, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have has and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoing, the right to take possession of such of the Collateral Trust Property as is governed by the Uniform Commercial Code personally, through an agent or any part thereofby means of a court-appointed receiver, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of such part of the CollateralTrust Property. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor will at its expense, expense assemble such of the Collateral Trust Property as is governed by the Uniform Commercial Code and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower shall Trustor will pay or arrange to Lender be paid to Beneficiary on demand any and all reasonable and documented expenses, including reasonable legal expenses expense and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral Trust Property herein granted and in enforcing its rights hereunder with respect to such part of the Collateral after the occurrence and during the continuance of an Event of DefaultTrust Property. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to such part of the Collateral Trust Property sent to Borrower Trustor in accordance with the provisions hereof of this Deed of Trust at least thirty (30) days prior to the date of any such sale, disposition or other action, will constitute reasonable notice to Trustor, and the method of sale or disposition or other intended action set forth or specified in such notice will conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by Trustor within ten (10) business days prior to after receipt by Trustor of such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofnotice.

Appears in 1 contract

Sources: Deed of Trust (Pacific Ethanol, Inc.)

Security Agreement. (a) This Security Instrument is both a real property deed of trust lien instrument and a "security agreement" within the meaning of the Uniform Commercial Code. The Security MORTGAGE, SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENT - Page 49 Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Security Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Security Property to the full extent that the Fixtures, the Equipment and the Personal Security Property may be subject to the Uniform Commercial Code (said portion of the Security Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERALCollateral"). This Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. The record owner of the Security Property is Borrower. (b) If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after After the occurrence occurrence, and during the continuance continuance, of an Event of Default, upon request or demand of Lender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all actual out-of-pocket expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of any Borrower, such Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Lender's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Lender shall deem necessary, and shall pay all actual, out-of-pocket expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's (Debtor's) principal place obligations under the Note, this Security Instrument and any of business is the other Loan Documents. Borrower hereby irrevocably appoints Lender as set forth its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Lender, as secured party, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Fixture Financing Statement (Prime Group Realty Trust)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security InstrumentMortgage, Borrower and Operator each hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in all Property, including without limitation the Fixtures, the Equipment and Equipment, the Personal Property and Rents to the full extent that such Property, including without limitation the Fixtures, the Equipment and Equipment, the Personal Property and Rents may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower and Operator each shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on within ten (10) Business Days after demand therefor, any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Mortgagor in accordance with Section 10.6 of the provisions hereof Loan Agreement at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower and Operator (each, debtor) is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Fee and Leasehold Mortgage, Assignment of Leases and Rents, Fixture Filing and Security Agreement (BRE Select Hotels Corp)

Security Agreement. This Security Instrument is both a real property deed of trust to secure debt and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to MERS, as nominee of Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower's organizational ID no. is ▇▇-▇▇▇▇▇▇▇.

Appears in 1 contract

Sources: Deed to Secure Debt, Assignment of Leases and Rents and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Individual Borrower in the Property. By executing and delivering this Security Instrument, Individual Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Individual Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Individual Borrower shall pay to Lender on demand any and all reasonable out-of-pocket expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Individual Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Individual Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Individual Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage and Security Agreement (BlueLinx Holdings Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial CodeCode of the State. The Secured Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Secured Property. By Grantor, by executing and delivering this Security Instrument, Borrower hereby Deed of Trust grants to LenderBeneficiary and Trustee (to the extent provided herein), as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Secured Property to the full extent that the Fixtures, the Equipment and the Personal Secured Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")Code. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary and/or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to sell the Personal Property at public or private sale, the right to take possession of the Collateral Personal Property or any part thereof, and to take such other measures as Lender Beneficiary and/or Trustee may deem necessary for the care, protection and preservation of the CollateralPersonal Property. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary and/or Trustee, Borrower shall, Grantor shall at its expense, expense assemble the Collateral Personal WCSR 7692675 Deed of Trust Loan No. 374-0470 Property and make it available to Lender Beneficiary and/or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary and/or Trustee. Borrower Grantor shall pay to Lender Beneficiary and Trustee on demand any and all expenses, including reasonable legal expenses and attorneys' fees’ fees and disbursements, incurred or paid by Lender Beneficiary and Trustee in protecting its interest in the Collateral Personal Property and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultPersonal Property. Any notice of sale, disposition or other intended action by Lender Beneficiary and/or Trustee with respect to the Collateral Personal Property sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such actionsale, shall, except as otherwise provided by applicable law, disposition or action shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the CollateralPersonal Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt Obligations in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place WCSR 7692675 Deed of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.Trust Loan No. 374-0470

Appears in 1 contract

Sources: Deed of Trust (Trade Street Residential, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Mortgagor (Debtor) is as set forth on page one hereof and the address of Lender Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Building Loan Mortgage (Alexanders Inc)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor's’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Inland American Real Estate Trust, Inc.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security InstrumentMortgage, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feescosts, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Mortgagor (Debtor) is as set forth on page one hereof and the address of Lender Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Hotel Revenue and Security Agreement (Morgans Hotel Group Co.)

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Deed of Trust is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Deed of Trust has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 10.1 the "COLLATERAL"“Collateral”). If During the existence of an Event of Default shall occur and be continuingDefault, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance existence of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to LenderProperty. Borrower shall pay to Lender on demand any and all reasonable out-of-pocket expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county or other applicable jurisdiction where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's It is not necessary that the Collateral be present at any disposition thereof. Lender shall have no obligation to clean-up or otherwise prepare the Collateral for disposition. (Debtor'sb) principal place The mention in a financing statement filed in the records normally pertaining to personal property of business any portion of the Property shall not derogate from or impair in any manner the intention of this Deed of Trust. Lender hereby declares that all items of Collateral are part of the real property encumbered hereby to the fullest extent permitted by law, regardless of whether any such item is as set forth on page one hereof and physically attached to the address Improvements or whether serial numbers are used for the better identification of certain items. Specifically, the mention in any such financing statement of any items included in the Property shall not be construed to alter, impair or impugn any rights of Lender as determined by this Deed of Trust or the priority of Lender’s lien upon and security interest in the Property in the event that notice of Lender’s priority of interest as to any portion of the Property is required to be filed in accordance with the UCC to be effective against or take priority over the interest of any particular class of persons, including the federal government or any subdivision or instrumentality thereof. No portion of the Collateral constitutes or is the proceeds of “Farm Products”, as defined in the UCC. (Secured Partyc) If Borrower is at any time a beneficiary under a letter of credit now or hereafter issued in favor of Borrower (other than as set forth on page one hereofsecurity under a Lease), Borrower shall promptly notify Lender thereof and, at the request and option of Lender, Borrower shall, pursuant to an agreement in form and substance satisfactory to Lender, either (i) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to Lender of the proceeds of any drawing under the letter of credit or (ii) arrange for Lender to become the transferee beneficiary of the letter of credit, with Lender agreeing, in each case, that the proceeds of any drawing under the letter to credit are to be applied as provided in this Deed of Trust. (d) Borrower and Lender acknowledge that for the purposes of Article 9 of the UCC, the law applicable to the Reserve Account shall be the law of the jurisdiction of the bank in which the Reserve Account is located. (e) Lender may comply with any applicable Legal Requirements in connection with the disposition of the Collateral, and Lender’s compliance therewith will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral. (f) Lender may sell the Collateral without giving any warranties as to the Collateral. Lender may specifically disclaim any warranties of title, possession, quiet enjoyment or the like. This procedure will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral. (g) If Lender sells any of the Collateral upon credit, Borrower will be credited only with payments actually made by the purchaser, received by Lender and applied to the indebtedness of the purchaser. In the event the purchaser of the Collateral fails to fully pay for the Collateral, Lender may resell the Collateral and Borrower will be credited with the proceeds of such sale.

Appears in 1 contract

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Xm Satellite Radio Holdings Inc)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower Grantor hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Grantor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Grantor (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT I, Inc.)

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Folsom Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Folsom Trust Property. By Trustor, by executing and delivering this Security Instrument, Borrower hereby Deed of Trust grants to LenderBeneficiary and Trustee (to the extent provided herein), as security for the Obligations (hereinafter defined)Indebtedness, a security interest in the Fixtures, the Equipment and the Personal Folsom Trust Property to the full extent that the Fixtures, the Equipment and the Personal Folsom Trust Property may be subject to the Uniform Commercial Code (said such portion of the Folsom Trust Property so subject to the Uniform Commercial Code being called in this Paragraph 27 the "COLLATERALCollateral"). Trustor hereby authorizes Beneficiary to file financing statements in order to create, perfect, preserve and continue the security interest(s) herein granted. This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code and shall cover all items of the Collateral that are or are to become fixtures. Information concerning the security interest(s) herein granted may be obtained from Beneficiary upon request. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary and/or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary and/or Trustee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary and/or Trustee, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary and/or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary and/or Trustee. Borrower Trustor shall pay to Lender Beneficiary and Trustee on demand any and all expenses, including reasonable legal expenses and reasonable attorneys' feesfees and disbursements, incurred or paid by Lender Beneficiary and Trustee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary and/or Trustee with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten five (105) business days prior to such actionsale, shall, except as otherwise provided by applicable law, disposition or action shall constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt Indebtedness in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's Trustor shall notify Beneficiary and Trustee of any change in name, identity, structure or state of formation of Trustor and shall promptly execute, file and record, at its sole cost and expense, such Uniform Commercial Code forms as are necessary to maintain the priority of the lien of Beneficiary upon and security interest in the Collateral. In addition, Trustor shall promptly execute, file and record such additional Uniform Commercial Code forms or continuation statements as Beneficiary shall deem necessary and shall pay all expenses and fees in connection with the filing and recording thereof, provided that no such additional documents shall increase the obligations of Trustor under the Note, this Deed of Trust or the other Loan Documents. Trustor hereby grants to Beneficiary an irrevocable power of attorney, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral covered by this Deed of Trust. (Debtor'sb) principal place That portion of business the Folsom Trust Property consisting of personal property and equipment, shall be owned by Trustor and shall not be the subject matter of any lease or other transaction whereby the ownership or any beneficial interest in any of such property is held by any person or entity other than Trustor nor shall Trustor create or suffer to be created any security interest covering any such property as set forth on page one hereof and it may from time to time be replaced, other than the address of Lender (Secured Party) is as set forth on page one hereofsecurity interest created herein.

Appears in 1 contract

Sources: Deed of Trust (West Coast Realty Investors Inc)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. By executing and delivering this Security Instrument, Borrower Trustor hereby grants to LenderAdministrative Agent, for the benefit of Administrative Agent and the Lenders, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccurs, LenderAdministrative Agent, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Administrative Agent after the occurrence occurrence, and during the continuance continuance, of an Event of Default, Borrower shallTrustor will, at its expense, assemble the Collateral and make it available to Lender Administrative Agent at a convenient place (at the Land if tangible property) reasonably acceptable to LenderAdministrative Agent. Borrower shall Trustor will pay to Lender Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence occurrence, and during the continuance continuance, of an Event of Default. Any notice of sale, disposition or other intended action by Lender Administrative Agent with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days 10 Business Days prior to such action, shallwill, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender Administrative Agent in its discretion shall deem deems proper. Borrower's (Debtor's) The principal place of business of Trustor (Debtor) is as set forth on page one hereof and the address of Lender Administrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust III, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender ▇▇▇▇▇▇ in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one (1) hereof and the address of Lender (Secured Partysecured party) is as set forth on page one (1) hereof.

Appears in 1 contract

Sources: Deed of Trust, Security Agreement and Fixture Filing (Glimcher Realty Trust)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and costs, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Horizon Group Properties Inc)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable lawlaw or the Loan Agreement, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Glimcher Realty Trust)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower and Operator each hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in all Property, including without limitation the Fixtures, the Equipment and Equipment, the Personal Property and Rents to the full extent that such Property, including without limitation the Fixtures, the Equipment and Equipment, the Personal Property and Rents may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower and Operator each shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower and Operator shall pay to Lender on within ten (10) Business Days after written demand therefor, any and all out-of-pocket expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Grantor in accordance with Section 10.6 of the provisions hereof Loan Agreement at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower and Operator (each, debtor) is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Sources: Fee and Leasehold Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (BRE Select Hotels Corp)

Security Agreement. (a) (i) This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By The Mortgage is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument and the other Loan Documents has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. To the extent permitted by Legal Requirements, any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriffs sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any To the extent permitted by Legal Requirements, any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Sources: Loan and Security Agreement (Etre Reit, LLC)

Security Agreement. (a) This Security Instrument is both a real property deed of trust lien instrument and a "security agreement" within the meaning of the Uniform Commercial Code. The Security Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Security Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Security Property to the full extent that the Fixtures, the Equipment and the Personal Security Property may be subject to the Uniform Commercial Code (said portion of the Security Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERAL"“Collateral”). This Security Instrument covers all items of the Collateral that are or are to become fixtures. Information AMENDED AND RESTATED MORTGAGE, SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENT - Page 47 43412-20/Continental Towers concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. The record owner of the Security Property is Borrower. (b) If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after After the occurrence occurrence, and during the continuance continuance, of an Event of Default, upon request or demand of Lender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all actual out-of-pocket expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of any Borrower's (Debtor's) principal place , such Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of business is Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth Lender shall deem necessary, and shall pay all actual, out-of-pocket expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Note, this Security Instrument and any of the other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Lender, as secured party, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Fixture Financing Statement (Prime Group Realty Trust)