Note Book: R.C - Laserfiche WebLink

Home Browse Search

The term "Indebtedness" as used in this Mortgage shall mean (1) tl Payments (as defined in the Agreement) required to be made by the Mortgago 1998 Certificates and the 1998 Loan pursuant to and subject to the limitatio~ Agreement; and (2) the Financing Payments relating to any series of Additi pursuant to and subject to the limitations set forth in the Supplemental Agreement such series of Additional Certificates are executed and delivered. e 1998 Financing in respect of the s set forth in the mal Certificates, ~ursuant to which To secure payment of the Indebtedness and performance of 11 obligations of Mortgagor under this Mortgage and the Agreement, Mortgagor mortgages and conveys to Mortgagee: ~ i (1) the Mortgagor's undivided sixty eight and seventy-one one-~undreds percent (68.71 %) interest in the Property; (2) the Mortgagor's interest in and to any fixtures now existing or h~ereafter installed on or in the Property; I (3) all improvements now existing or hereafter constructed thereon (the "Improvements"); I (4) all of Mortgagor's right, title and interest in and to all rents, r venues, income, issues and profits from such Property, whether now or hereafter due; and (5) all accessions, parts or additions to, all replacement of and all Isubstitutions for any of such property, and all proceeds, including casualty insurance p oceeds, derived therefrom. Notwithstanding anything expressed or implied herein to the contrary, the lie created by this mortgage is not intended to, nor shall it, attach to the Transit District's undivid thirty one and twenty-nine one-hundredths percent (31.29%) interest in the Property or the ransit District's interest in any item of property described in (2) through (5) above; rather, the only interest covered by the lien of this mortgage is the Mortgagor's undivided sixty eight and s venty-one one- hundredths percent (68.71 %) interest in the Property and the Mortgagor's interest i the other items of property described in (2) through (5) above. THIS MORTGAGE [S GRANTED PURSUANT TO THE AUTHORITY CONFE ED UPON THE MORTGAGOR PURSUANT TO ORS 271.390. PURSUA]YT TO ORS 271.390, TH LIEN OF THIS MORTGAGE IS VAL[D AND BINDING FROM THE TIME THIS MORTGAGE AND THE A REEMENT ARE ENTERED INTO, AND THE MORTGAGOR'S INTEREST IN THE PROPERTY IS IMMEDI TELY SUBJECT TO THE LIEN OF THIS MORTGAGE WITHOUT PHYSICAL DELIVERY, F[LING OR A Y OTHER ACT, AND THE LIEN OF THIS MORTGAGE SHALL BE SUPERIOR TO ALL OTHER CLAIMS AN LIENS OF ANY KIND WHATSOEVER. ~I I MORTGAGE PAGE 2