definiens: shall mean any security deed, mortgage, lien, security interest, judgments, or past due taxesupon the Property created by Seller or otherwise encumbering the Property, and ( ii ) shall mean allnon - monetary liens and encumbrances which Seller has voluntarily placed on the Property without Buyer ’s writtenconsent from and after the Effective Date . A Monetary Lien shall be deemed cured by Seller if such Monetary Lien isreleased, satisfied or canceled of record or bonded over ( to the satisfaction of Buyer in its sole discretion ) at or priorto the Closing at no additional cost to Buyer, provided, however, that as to any institutional mortgage, the lien of suchmortgage shall be deemed satisfactorily released if written confirmation is received from the mortgagee stating theamount to be delivered at the Closing to discharge such mortgage, in form and substance satisfactory to Buyer andthe Escrow Agent to remove such mortgage from the list of encumbrances in Buyer ’s Title Policy ( as defined below )