Civil Code Section 2822. In the event that, at any time, any surety exists that is liable upon only a portion of Grantor’s obligations under the Loan Documents and Grantor provides partial satisfaction of any such obligation(s), Grantor hereby waives any right it would otherwise have, under Section 2822 of the California Civil Code, to designate the portion of the obligation to be satisfied. The designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Loan Documents, be made by Beneficiary rather than Grantor.
Appears in 4 contracts
Samples: Deed of Trust, Leasehold Deed of Trust, Assignment of Leases and Profits, Security Agreement and Fixture Filing (Innkeepers Usa Trust/Fl), Deed of Trust, Leasehold Deed of Trust, Assignment of Leases and Profits, Security Agreement and Fixture Filing (Innkeepers Usa Trust/Fl), Deed of Trust, Leasehold Deed of Trust, Assignment of Leases and Profits, Security Agreement and Fixture Filing (Innkeepers Usa Trust/Fl)
