HomeMy WebLinkAbout0566 hereafter have or any legal basis whatsoever for asserting or
claiming such liability, (ii) no daficiency decree or money
judgment shall be sought or rendered against Mortgagor, its
successors and assigns on the account of the execution o E this
mortgage by Mortgagor or the indebtadness, provided, however.
that nothing in this paragraph shall be deemed to be a release ~
or impai=ment of the indebtedness or an impairment of the lien S
of this mortgage on the mortgaged property and (iii) the sole ~
remedies in connection with the enforcement of this mortgage
and the indebtedness shall be, at-the option of Mortgagee, ~
(a} to foreclose the mortgaqe as provided herein or (b) ~
accept a transfer without representation, warranty or recourse,
expressed or implied, by statute or otherwise of all unreleased
lands and tanqible or intangible personal property encumbered
hereby . -
10. The parties hereto have heretofore entered into ~
a separate written agreement of even date herewith
- providing for the partial release of lands and collateral ~
encumbered by this mortgage and Security Agreement, the payment
therefor, the substitution of collateral hereunder and the
rights, duties and obligations-of the parties upon a default
by third parties of any.collateral assiqned to the Mortgagee.
The tenns, condi~ions and covenants of said agreement are
incorporated herein by reference; provided, however, such
incorporation shall not affect the validity of any partial
release, assignment or trarisfer of any lands or collateral by
the Mortgagee, his heirs, legal representatives, successors and
assigns and no purchaser or third party acquiring an interest in
any such released, assigned or transferred lands shall be !
required to inquire into the terms, c~nditions or covenants of
said-agreement nor into the compliance by the parties with
~ said agreement.
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