Common use of Nature of Interest Clause in Contracts

Nature of Interest. The filing of any such financing statement in the records normally having to do with personal property shall never be construed as in anywise derogating from or impairing this declaration and hereby stated intention of Mortgagor and Mortgagee that everything used in connection with the production of income from the Premises (including, without limitation, all Chattels) and/or adapted for use therein and/or which is described or reflected in this Mortgage, is, and at all times and for all purposes and in all proceedings both legal and equitable shall be, regarded as part of the real estate irrespective of whether (i) any item of collateral is physically attached to the improvements, (ii) serial numbers are used for the better identification of certain items of collateral capable of being thus identified in a recital contained herein or in any list filed with Mortgagee, or (iii) any item of collateral is referred to or reflected in any such financing statement so filed at any time. Similarly, the mention in any such financing statement of (i) the rights in or to the proceeds of any fire and/or hazard insurance policy, or (ii) any award in eminent domain proceedings for a taking or for loss of value, or (iii) Mortgagor's (that is, "Debtor's") interest as lessor in any present or future lease or rights to income growing out of the use and/or occupancy of the Premises, whether pursuant to lease or otherwise, shall never be construed as in anywise altering any of the rights of Mortgagee as determined by this Mortgage or impugning the priority of Mortgagee's security title and lien granted hereby or by any other recorded document, but such mention in any such financing statement is declared to be for the protection of Mortgagee in the event any court or judicial authority shall at any time hold with respect to any matter mentioned in clauses (i), (ii) or (iii) of this sentence that notice of Mortgagee's priority of interest to be effective against a particular class of persons, including but not limited to, the Federal government and any subdivision or entity of the Federal government, must be filed in the Uniform Commercial Code records.