Mortgaged Estate definition

Mortgaged Estate means the collateral described in the Mortgage which secures the Notes.

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Mortgaged Estate means the real and personal property encumbered by the Mortgage and more particularly described therein.

Mortgaged Estate has the meaning provided in the recitals to this ---------------- Mortgage.

Examples of Mortgaged Estate in a sentence

Grantor shall, within thirty (30) days after Grantor receives notice thereof, pay and discharge, at Grantor's cost and expense, all liens, encumbrances and charges upon the Mortgaged Estate, or any part thereof or interest therein, except for Permitted Exceptions.
Borrower shall complete any construction or alteration of the Mortgaged Estate in a good and workmanlike manner.
Grantor shall not further encumber the Mortgaged Estate or any portion thereof.
All proposed easements, permits, licenses, plans, tract maps and other instruments which would or might affect the title to the Mortgaged Estate shall be submitted to Beneficiary for Beneficiary's approval (and execution solely as lienholder if Beneficiary so desires) prior to the execution thereof by Grantor, accompanied by a survey showing the exact proposed location thereof and such other information as Beneficiary shall reasonably require.
After the occurrence of any casualty to the Mortgaged Estate or any part thereof, Grantor shall give prompt written notice thereof to Beneficiary and each insurer and submit a claim to insurer for payment of insurance proceeds with a copy of such claim sent by Grantor to Beneficiary.
Grantor shall at all times keep, or cause to be kept, the Improvements which now are or hereafter become a part of the Mortgaged Estate insured under an "all risk" extended coverage form of insurance policy containing both a replacement cost and an agreed amount endorsement (and against all other hazards as reasonably may be required by Beneficiary, which may include, without limitation, insurance against loss or damage by flood and earthquake).
Nothing contained herein shall be construed as making Beneficiary liable in any way for any loss, damage or injury resulting from the failure to insure the Mortgaged Estate.
Upon the occurrence and during the continuance of an Event of Default, Beneficiary, in its sole discretion, without obligation so to do and without notice to or demand upon Grantor and without releasing Grantor from any obligation, may take any action in respect of the Mortgaged Estate in such manner and to such extent as Beneficiary may deem necessary to protect the security hereof.
The Mortgagor, for itself and all who may claim under it, hereby waives, to the maximum extent permitted by applicable law, any and all rights and equities of redemption from sale under the power of sale created hereunder or from sale under any foreclosure of this Mortgage and (if an Event of Default shall have occurred) all notice or notices of seizure, and all right to have the Mortgaged Estate marshalled upon any foreclosure hereof.
If any law exists requiring Mortgagee to take actual possession of the Mortgaged Estate (or some action equivalent to taking possession of the Mortgaged Estate, such as securing the appointment of a receiver) in order for Mortgagee to "perfect" or "activate" the rights and remedies of Mortgagee as provided in this Section, Mortgagor waives the benefit of such law.

More Definitions of Mortgaged Estate

Mortgaged Estate. The real and personal property securing the Mortgage Note and the improvements constructed with the proceeds of the Mortgage Loan, if any.

Mortgaged Estate means (a) each Property and all and singular the tenements, hereditaments and appurtenances thereto, together with all right, title and interest of each Borrower in all easements, rights-of-way, gores or strips of land, surface waters, ground waters, watercourses, mineral interests and subsurface rights, alleys, streets and sidewalks, whether now owned or hereafter acquired, either in law or in equity, adjacent or appurtenant to or adjoining such real property (the "Land"); (b) any and all buildings and improvements now or hereafter erected or located on the Land, including all fixtures, attachments, appliances, equipment, machinery and other articles attached to such buildings and improvements (the "Improvements"); (c) all right, title and interest of each Borrower in and to all tangible personal property now owned or hereafter acquired by such Borrower and now or at any time hereafter exclusively located on the Land or within the Improvements and used exclusively in connection therewith, including all building materials stored on the Land, all machinery, motors, elevators, fittings, radiators, awnings, shades, screens, all plumbing, heating, lighting, ventilating, refrigerating, incinerating, air conditioning and sprinkler equipment, all furniture, furnishings, equipment and other personal property owned by each Borrower and used exclusively in connection with the operation of the Mortgaged Estate, and all renewals and replacements thereof (excluding any such property owned by a tenant of the Mortgaged Estate) (the "Personal Property"), all of which property shall, so far as permitted by law, be deemed to form a part and parcel of the real property and for the purpose of this Mortgage to be real estate and covered by this Mortgage; (d) all of each Borrower's interest in all existing and future accounts, contract rights, general intangibles, files, books of account, agreements, permits, licenses and certificates necessary or desirable in connection with the acquisition, ownership, leasing, operation or management of the Mortgaged Estate, whether now existing or entered into or obtained after the date hereof, including the Leases and Rents (as hereinafter defined); (e) all agreements for use and occupancy of any part of the Mortgaged Estate, now existing or hereafter entered into, including any and all extensions or modifications thereto (the "Leases"), and all of the rents, royalties, security deposits, income, receipts, revenues and other sums now due or...