HomeMy WebLinkAbout1651 however, in the avant of the occurrence of a default by Borrower under the
terms snd conditions of this Agreement or other Loan Documents , Lender shall
have the right m exercise its rights and remedies far Borrower's default under
this Agreement andthe other Loan Documents, including but not necessarily limited
to the right to determine the withdrawals. disbursements. and other disposition
of 20$ Deposits upon the instructions signed by Lender alone, in accordance with
the provisions hereof. (e) In the event the Borrower shall fail to comply with the
provisions of this escrow. as set forth in this Agreement, as well as the terms
and provisions of the Loan Agreement. then the Lender shall have the right to
declare a default hereunder and under the terms and conditions of the other
Loan Documents and the Lender shall have the right to exercise its rights and
remedies hereunder and under the other Loan Documents. (f) The Lender shall
not be res nsible bor the validi or sufScienc of the 20 D osits Proceeds
and Contracts received by it and shall be entitled for all purposes to assume
that all 20$ Deposits , Proceeds , .Contracts and other documents have been signed
by the persons whose signatures purport to be thereon .
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13. In the event any one or more of the provisions contained herein
shall for any reason be held m be invalid, illegal or unenforceable in any
respect, such invalidity , illegality , or unenforceability shall not affect any other
provision hereof, and shall be construed as if such invalid. illegal or unenforce-
able provision had never been contained herein.
14. No delay or omission on the part of Lender in exercising any
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right hereunder shall operate as a waiver of that right or of any other right .
hereunder or under the other Loan Documents .
15. The terms "Borrower" and "Lender" as used herein shall in
every instance include said parties' heirs, executors, administrators successors,
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