North Myrtle Beach Mortgage definition
North Myrtle Beach Mortgage filed July 17, 2009, at Book 5188, Page 2071, in the records of the Register of Deeds of Horry County, South Carolina, executed by Borrower to GMACCF, granting to GMACCF a first-priority lien and security interest to secure the Indebtedness in and to that portion of the real property located in Horry County, South Carolina more particularly described therein (the “North Myrtle Beach Property”); the North Myrtle Beach Mortgage having been assigned from GMACCF to Lender by that certain Assignment of Mortgage, dated as of September 13, 2010, filed for record on October 19, 2010, at Book 5282, Page 3346, in the records of the Register of Deeds of Horry County, South Carolina; (2) that certain Assignment of Construction Agreements and Development Items (the “North Myrtle Beach Assignment”), granting to Lender a first-priority security interest in certain documents, agreements and other items relevant to the development of the North Myrtle Beach Property; and (3) that certain Hazardous Substances Remediation and Indemnification Agreement (the “North Myrtle Beach HazMat Indemnity”), indemnifying Lender with respect to claims and obligations regarding hazardous materials on, in, or about the North Myrtle Beach Property.