ACCOMMODATION MORTGAGE. With respect to Laars, to the extent it has provided security for the benefit of Water Pik pursuant to its grant of this Mortgage, and to the extent applicable California law with respect to guaranties and suretyship may be held to apply hereto (notwithstanding the choice of law provision contained herein) Laars agrees that until all indebtedness secured by this Mortgage shall have been paid in full, and no commitment on the part of the Lender to make future advances or extend credit either to Laars or Water Pik exists, Laars shall have no right of subrogation, and waives any right to enforce any remedy which Lender now has or may hereafter have against any person liable for the Indebtedness secured by this Mortgage, and waives any benefit of, any right to participate in any security now or hereafter held by Lender and without limiting the generality of the foregoing, Laars specifically waives and relinquishes as against Lender any defense or benefit otherwise available to Laars should Lender make an election of remedies as against any person liable for the Indebtedness (and irrespective of the circumstances or manner in which or whereby such election is made) which destroys or impairs Laars' subrogation rights or rights to proceed against any person liable for the indebtedness secured hereby for reimbursement and, further, to the extent Laars may be deemed a guarantor hereunder, such "guarantor" waives all rights and defenses arising out of an election of remedies by the creditor, even though that election of remedies, such as non-judicial foreclosure with respect to security for a "guaranteed" obligation, has destroyed the "guarantor's" rights of subrogation and reimbursement against Water Pik by the operation of Section 580d of the California Code of Civil Procedure or otherwise. This is an unconditional waiver of any rights and defenses Laars may have because Water Pik's obligation is secured by real property. These rights and defenses include, but are not limited to, any rights and defenses based upon Section 580a, 580b, 580d, or 726 of the Code of Civil Procedure. Laars assumes the responsibility for being and keeping itself informed of the financial condition of Water Pik and of all other circumstances bearing upon the risk of nonpayment of the indebtedness secured hereby which diligent inquiry would reveal, and agrees that Lender shall have no duty to advise Laars of information known to it regarding such condition or circumstances.
ACCOMMODATION MORTGAGE. Landlord will duly consider (but does not hereby commit to agree to same) any request of any Leasehold Mortgagee and Landlord that Landlord execute and deliver to such Leasehold Mortgagee a deed of trust or mortgage (the “Fee Mortgage”), in the form of Leasehold Mortgagee's Leasehold Mortgage, encumbering the Premises and securing all amounts secured by the Leasehold Mortgage; provided that Landlord shall have no responsibility, obligation or liability for any such amounts secured by such Leasehold Mortgage and/or Fee Mortgage, and any Leasehold Mortgagee shall only have the right to foreclose under its Leasehold Mortgage and/or Fee Mortgage and Landlord shall have no personal liability thereunder.
