Security Instrument. Borrower will execute the Security Instrument dated of even date with this Loan Agreement. The Security Instrument will be recorded in the applicable land records in the Property Jurisdiction.
Security Instrument. Servicer.......................................................
Security Instrument. In addition to the protections given to the Note Holder under this Note, the Security Instrument protects the Note Holder from possible losses which might result if I do not keep the promises that I make in this Note. The Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Xxxxxx’s prior written consent, Lender may require immediate payment in full of all sums secured by the Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Xxxxxxxx fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by the Security Instrument without further notice or demand on Borrower.
Security Instrument. If any of the Property is also subject to a valid and enforceable Lien under the Security Instrument and the terms of the Security Instrument are inconsistent with the terms of this Agreement, then, at the option of the Lender, the terms of the Security Instrument shall be controlling with respect to Property that relates to the real property described in the Security Instrument, and the terms of this Agreement shall be controlling in the case of all other Property.
Security Instrument. Borrower will execute the Security Instrument dated of even date with this Continuing Covenant Agreement. The Security Instrument will be recorded in the applicable land records in the Property Jurisdiction. The Security Instrument will be assigned to the Fiscal Agent as security for the Funding Loan.
Security Instrument. Licensee will furnish and maintain throughout the term of this Agreement, and thereafter until all of the obligations of Licensee have been fully performed, a bond or other security instrument (“Security Instrument”) satisfactory in form and content to Licensor in substitution therefore, to guarantee the payment of any sums which may become due to Licensor or an Licensor Agent for Pole Attachment Rental Fees, inspections, inventories, Make Ready Costs, Unauthorized Attachment Fees, for work performed for the benefit of Licensee under this Agreement, including the removal of Attachments upon termination of this Agreement, for any expense that may be incurred by Licensor or an Licensor agent because of any Default of Licensee, or for any other expense that is to be borne by Licensee under this Agreement. The amount of said Security Instrument, which amount will be maintained throughout the term of the Agreement and thereafter until all of the obligations of Licensee have been fully performed, will be equal to ten thousand US dollars ($10,000), or twenty-five dollars ($25) per Attachment, whichever is larger. The amount of the Security Instrument may, in Licensor’s discretion, be adjusted if Licensee purchases, acquires, or obtains a controlling interest in additional broadband or other facilities within Licensor’s service territory not currently covered by this Agreement which results in a significant increase in the number of Attachments. Any such adjustment will not exceed twenty-five dollars ($25) per new Attachment. Failure to provide and maintain the aforementioned Security Instrument will be deemed a Default under this Agreement, in which event Licensor will have the right to pursue any and all remedies set forth in this Agreement and at law or equity. The furnishing of such Security Instrument will not affect, limit, diminish or otherwise reduce any obligations of Licensee under this Agreement.
Security Instrument. Section 28 to the Lease Agreement is hereby deleted in its entirety and replaced with the following: As long as Lessor is the grantor under a security instrument or a deed of trust securing the payment of a promissory note of Lessee to an approved lender that is assisting with the financing of a transaction (that will benefit Lessor and Lessee) evidencing a lien on approximately 150 acres in Hood County, Texas as shown in Exhibit “C” (“Security Instrument”), Lessee will pay Lessor an annual fee, due on January 2 of each year, as follows: • January 2, 2012 No fee payable; • January 2, 2013 $800.00 per acre of the Leased Premises under the Security Instrument; • January 2, 2014 $800.00 per acre of the Leased Premises under the Security Instrument; • January 2, 2015 $600.00 per acre of the Leased Premises under the Security Instrument; and • January 2, 2016 $600.00 per acre of the Leased Premises under the Security Instrument; • January 2, 2017 $400.00 per acre of the Leased Premises under the Security Instrument; and • January 2, 2018 $200.00 per acre of the Leased Premises under the Security Instrument (herein called “Security Instrument Payments”). Lessee hereby agrees to have the Security Instrument released on or before December 28, 2018; and Lessee shall deliver to Lessor a release in recordable form that is reasonably acceptable in form and substance to Lessor and thereby relinquishes all rights Lessee’s lender has in the above-referenced 150 acres. Notwithstanding the foregoing, in the event the Security Instrument is released at any time prior to December 28, 2018, Lessee’s obligation to make Security Interest Payments pursuant to this Section 28 shall cease as of the date of such release, provided that if the Security Instrument is released during a partial year, the applicable Security Instrument Payment shall be prorated and paid to Lessor within ten (10) days of the Release of the Security Instrument. Lessee agrees to indemnify and, within five (5) business days after demand by Lessor, reimburse Lessor for all amounts expended or debts incurred by Lessor as a result of Lessor’s undertaking to cure any defaults under the Security Instrument or under the debt secured by the Security Instrument, to protect Lessor’s interests in the Property.