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Document Preview Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Filing |
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Title: |
Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Filing |
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Date: |
2006 |
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Preview shows 3KB of 34KB total |
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Price: |
$38 |
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ID: |
#2438329 |
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Exhibit 10.3
MORTGAGE, ASSIGNMENT OF RENTS
AND LEASES, SECURITY AGREEMENT AND FIXTURE FILING
THIS MORTGAGE, ASSIGNMENT OF RENTS AND LEASES, SECURITY AGREEMENT AND FIXTURE FILING (Security Instrument) is made as of the 17th day of August, 2006 by BEHRINGER HARVARD FERNCROFT, LLC, a Delaware limited liability company, as mortgagor (Borrower), to BARCLAYS CAPITAL REAL ESTATE INC., a Delaware corporation, as mortgagee (together with its successors and assigns, Lender).
BACKGROUND
Borrower and Lender are entering into a certain Loan Agreement of even date herewith (Loan Agreement) pursuant to which Lender will make a loan (Loan) to Borrower in the maximum principal amount of $18,000,000.00. The Loan also will be evidenced by Borrowers promissory note to Lender of even date herewith (Note). Borrower desires to secure payment and performance of Borrowers obligations in respect of the Loan by granting to Lender the security described in this Security Instrument.
NOW, THEREFORE, to induce Lender to make the Loan to Borrower, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Borrower agrees as follows:
ARTICLE I
DEFINED TERMS
Section 1.01 Defined Terms. Capitalized terms used in this Security Instrument and not specifically defined in this Security Instrument have the meaning provided in the Loan Agreement.
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