HomeMy WebLinkAbout1709 by such Replacement Mortgage Note.
Each of the Makers hereby unconditionally agrees
that this Second Replacement Note shall remain in full
effect without regard to, and shal l not be affected or
impaired by (a) any invalidity, irregularity, or unenforce-
ability in whole or in part of the Mortgage or any instru-
ment referred to therein or any limitation on the method or
terms of payment hereunder which may now or hereafter be
caused or imposed in any manner whatsoever, (b) the waiver
by the Payee of the observance or performance by any of the
Makers of any obligations, undertakings or conditions
contained in the Second Replacement Note or in the Mortgage.,
(c) the extension of time for payment by any of the Makers
of any amount owing or payable under this Second Replacement
Note or the Mortgage or of the time for performance by any
of the Makers or any other person of any other obligation
under or arising out of any such instruments, or the exten-
sion~or renewal of any thereof, (d) the modification or
amendment, (whether material or otherwise) of any obliga-
tion, undertaking or condition to be performed by any of the
Makers under this Second Replacement Note or the Mortgage,
(e) any failure, omission, delay or lack on the part of the
Payee or any other person to enforce, assert or exercise any
right, power or remedy conferred on the Payee or any other
person in this Second Replacement Note or in the Mortgage or
any action on the part of the Payee or any other person a
granting indulgence or extension in any form, (f) the ,
voluntary or involuntary liquidation, dissolution, sale or
other disposition of all or substantially all the assets, .
marshalling all assets and liabilities, receivership,
insolvency, bankruptcy, assignment for the benefit of
creditors, reorganization, arrangement, readjustment of, or
~ other similar proceeding affecting any of the Makers or any
of their respective assets or the disaffirmance, rejection
or postponement in any such proceeding of any of the rbli-
gations or undertakings set forth in this Second Replacement
Note or in the Mortgage, (g) the release or discharge of any
' of the Makers from the performance or observance of any
obligation, undertaking or condition to be performed by such _
f party under this Second Replacement Note or the Mortgage by
operation of law, (h) the release, substitution or replace-
ment of any of the Mortgaged Property, as such term is
defined in the Mortgage,• (i) the receipt and acceptance by
the Payee or any other person of checks or other instruments
for the payment of money made by any of. the Makers and
~ extensions and renewals thereof (except to the extent that
.such payment is converted into cash), (j) any action or
inaction by the Payee or any other person which results in
any impairment or destruction of any contribution or subro- 4
gation rights which any of the Makers may have against any
~ of the other Makers or others, (k) any change in circum- 4
stance, whether or not foreseen or foreseeable, and whether
or not such change in circumstance might in any manner and
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