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 Article VII of the Loan Agreement or otherwise, will not constitute a novation and will not affect the priority of the Lien created by this Instrument.
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Samples: Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Steadfast Apartment REIT III, Inc.), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Steadfast 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 Article VII of the Loan Agreement or otherwise, will not constitute a novation and will 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, Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement, Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Preferred Apartment Communities Inc)
Assumption Not a Novation. LenderLxxxxx’s acceptance of an assumption of the obligations of this Instrument and the Note, and the release of Borrower pursuant to Article VII of the Loan Agreement or otherwise, will not constitute a novation and will not affect the priority of the Lien created by this Instrument.
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Assumption Not a Novation. Lender’s 's acceptance of an ofan assumption of the obligations of this Instrument and the Note, and the release of Borrower pursuant to Article VII of the Loan Agreement or otherwise, will not constitute a novation and will not affect the priority of the Lien created by this Instrument.
Appears in 1 contract
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 Article VII of the Loan Agreement or otherwise, will not constitute a novation and will not affect the priority of the Lien created by this Instrument.
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