SEC Contract Filing

Filing Date: 2018-11-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>collateralmortgage2016x07x26.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="sDD67F10D571B776460BDD0F24C32545F"></a></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">&#160;</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:14pt;"><font style="font-family:Arial;font-size:14pt;font-weight:bold;">COLLATERAL MORTGAGE</font></div><div style="line-height:240%;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">THIS COLLATERAL MORTGAGE made this </font><font style="font-family:Arial;font-size:11pt;text-decoration:underline;">&#160;&#160;&#160;26th&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;">&#32;day of July, 2016.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">IN PURSUANCE OF THE ENACTMENTS RESPECTING SHORT FORMS OF INDENTURES.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">BETWEEN:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">AQUA BOUNTY CANADA INC.</font><font style="font-family:Arial;font-size:11pt;">, a body corporate, duly incorporated under the laws of the Province of Newfoundland and Labrador</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">(hereinafter called the &#8220;Mortgagor&#8221;)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">OF THE FIRST PART;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">AND:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">PRINCE EDWARD ISLAND CENTURY 2000 FUND INC.</font><font style="font-family:Arial;font-size:11pt;">, a body corporate, duly incorporated by a special Act of the Prince Edward Island Legislature, with head office in the City of Charlottetown, in Queens County, Province of Prince Edward Island</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">(hereinafter called the &#8220;Mortgagee&#8221;)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">OF THE SECOND PART.</font></div><div style="line-height:200%;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:Arial;font-size:11pt;">&#32;the Mortgagor is indebted to the Mortgagee;</font></div><div style="line-height:200%;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">AND WHEREAS</font><font style="font-family:Arial;font-size:11pt;">&#32;the Mortgagee has demanded from the Mortgagor additional security for payment to the Mortgagee on demand of all money and liabilities, whether direct or contingent, now or hereafter owing or incurred from or by the Mortgagor to the Mortgagee;</font></div><div style="line-height:200%;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">NOW, THEREFORE, THIS INDENTURE WITNESSETH</font><font style="font-family:Arial;font-size:11pt;">&#32;that in consideration of the premises and of the Mortgagee agreeing to deal with the Mortgagor in the way of its business as a lending institution, the Mortgagor, who conveys as beneficial owner, doth grant a Mortgage unto the Mortgagee, its successors and assigns forever, over all and singular all the lands and premises described in the Schedule hereto annexed and marked &#8220;A&#8221;, </font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">TOGETHER </font><font style="font-family:Arial;font-size:11pt;">with all and every the rights, privileges, easements, advantages and appurtenances wheresoever to the said hereditaments belonging or in anywise pertaining or thereunto now or heretofore holden, used, occupied or enjoyed; </font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">TO HAVE AND TO HOLD</font><font style="font-family:Arial;font-size:11pt;">&#32;the said messuages and tenements, lands and hereditaments and all and singular other the premises hereinbefore granted, appointed and released or expressed and intended so to be with their appurtenances </font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">UNTO AND TO THE USE OF</font><font style="font-family:Arial;font-size:11pt;">&#32;the Mortgagee, its successors and assigns forever.</font></div><div style="line-height:200%;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">The Mortgagor and the Mortgagee covenant and agree with each other that the provisions of this Indenture added to the short form clause shall not derogate from the Mortgagee&#8217;s rights under the long clauses in The Enactments Respecting Short Forms of Indentures but shall