Assumption Not a Novation. Lender's acceptance of an assumption of the obligations of this Instrument and the Note, and the release of Borrower pursuant to Section 21, shall not constitute a novation and shall not affect the priority of the lien created by this Instrument.
Appears in 3 contracts
Samples: Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Vinings Investment Properties Trust/Ga), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Vinings Investment Properties Trust/Ga), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Roberts Realty Investors Inc)
Assumption Not a Novation. Lender's Xxxxxx’s acceptance of an assumption of the obligations of this Instrument and the Note, and the release of Borrower pursuant to Section 21, shall not constitute a novation and shall not affect the priority of the lien created by this Instrument.
Appears in 3 contracts
Samples: Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Grubb & Ellis Apartment REIT, Inc.), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Paladin Realty Income Properties Inc), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Grubb & Ellis Apartment REIT, Inc.)
Assumption Not a Novation. LenderXxxxxx's acceptance of an assumption of the obligations of this Instrument and the Note, and the release of Borrower pursuant to Section 21, shall not constitute a novation and shall not affect the priority of the lien created by this Instrument.
Appears in 1 contract
Assumption Not a Novation. Lender's acceptance Lendxx'x xcceptance of an assumption of the obligations of this Instrument and the Note, and the release of Borrower pursuant to Section 21, shall not constitute a novation and shall not affect the priority of the lien created by this Instrument.
Appears in 1 contract
Assumption Not a Novation. Lender's ’s acceptance of an assumption of the obligations of this Instrument and the Note, and the release of Borrower pursuant to Section 21, shall not constitute a novation and shall not affect the priority of the lien created by this Instrument.
Appears in 1 contract
