Common use of Title to the Secured Property Clause in Contracts

Title to the Secured Property. Mortgagor warrants that: (i) it has title to the Secured Property in fee simple subject only to such encumbrances approved and permitted by Mortgagee in Schedule B, Section 2 of the Commitment for Title Insurance issued by Commonwealth Land Title Insurance Company with respect to the Secured Property (the “Permitted Encumbrances”); (ii) it has full power and lawful authority to encumber the Secured Property in the manner and form herein set forth; (iii) it owns or will own all Improvements; (iv) this Instrument creates a valid and enforceable security title, security interest, and lien on the Secured Property; and (v) it will preserve such title, and will forever warrant and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever.

Appears in 1 contract

Samples: Credit Agreement (Carmike Cinemas Inc)

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Title to the Secured Property. Mortgagor Borrower warrants that: (i) it is lawfully seized and possessed of the Secured Property and that it has fee simple title to the Secured Property in fee simple subject only Property, and has good right to such encumbrances approved convey the same, and permitted by Mortgagee in Schedule B, Section 2 of the Commitment for Title Insurance issued by Commonwealth Land Title Insurance Company with respect to the Secured Property is unencumbered except for those items expressly set forth on Exhibit “B” attached hereto and by this reference incorporated herein (the “Permitted Encumbrances”); (ii) it has full power and lawful authority to encumber the Secured Property in the manner and form herein set forth; (iii) it owns or will own all Improvements; (iv) this Instrument creates a valid and enforceable security title, security interest, and lien on the Secured Property; and (v) it will preserve such title, and will forever warrant and defend the same to Mortgagee Lenders and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever, except as to the Permitted Encumbrances.

Appears in 1 contract

Samples: And Security Agreement (Bluerock Residential Growth REIT, Inc.)

Title to the Secured Property. Mortgagor warrants that: (i) it has title to the Secured Property in fee simple subject only to such encumbrances approved and permitted by Mortgagee in Schedule B, Section 2 of the Commitment for Title Insurance issued by Commonwealth Land Title Insurance Company with EXHIBIT J-4 EXHIBITS TO FIRST LIEN CREDIT AGREEMENT EXECUTION respect to the Secured Property (the "Permitted Encumbrances"); (ii) it has full power and lawful authority to encumber the Secured Property in the manner and form herein set forth; (iii) it owns or will own all Improvements; (iv) this Instrument creates a valid and enforceable security title, security interest, and lien on the Secured Property; and (v) it will preserve such title, and will forever warrant and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Carmike Cinemas Inc)

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Title to the Secured Property. Mortgagor warrants that: (i) it has title to the Secured Property in fee simple subject only to such encumbrances approved and permitted by Mortgagee in Schedule B, Section 2 of the Commitment for Title Insurance issued by Commonwealth Land Title Insurance Company with respect to the Secured Property (the "Permitted Encumbrances”)") and other Liens permitted by the Credit Agreement; (ii) it has full power and lawful authority to encumber the Secured Property in the manner and form herein set forth; (iii) it owns or will own all Improvements; (iv) this Instrument creates a valid and enforceable security title, security interest, and lien on the Secured Property; and (v) it will preserve such title, and will forever warrant and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Carmike Cinemas Inc)

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