Mortgage Collateral

Mortgage Collateral. Shall mean a first mortgage lien on each Project, pursuant to a mortgage or deed of trust, as applicable substantially in the form of the mortgages delivered by affiliates of the Borrowers to secure the loan made by Lender in the amount of $10 million on September 15, 1998, with such changes as are reasonably required by Lender to conform to local law and practice, which lien shall be insured by a national title insurance company, and which... lien shall be subject only to such exceptions as are acceptable to Lender and its counsel. View More