Common use of Developer’s Breach Shall Not Defeat Mortgage Lien Clause in Contracts

Developer’s Breach Shall Not Defeat Mortgage Lien. Developer’s breach of any of the covenants or restrictions contained in this Agreement shall not defeat or render void the lien of any Mortgage made in good faith and for value but, unless otherwise provided herein, the terms, conditions, covenants, restrictions, easements, and reservations of this Agreement shall be binding and effective against the successful bidder at any foreclosure sale under any such Mortgage, transferee in lieu thereof or similar transferee.

Developer’s Breach Shall Not Defeat Mortgage Lien. Developer’s breach of any of the covenants or restrictions contained in this Agreement shall not defeat or render void invalid the lien of any Mortgage mortgage made in good faith and for value butas to the Site, or any part thereof or interest therein, but unless otherwise provided herein, the terms, conditions, covenants, restrictions, easements, and reservations of this Agreement shall be binding and effective against the successful bidder at any foreclosure sale under holder of any such Mortgagemortgage of the Site whose interest is acquired by foreclosure, transferee in lieu thereof trustee’s sale or similar transfereeotherwise.

Developer’s Breach Shall Not Defeat Mortgage Lien. Developer’s breach of any of the covenants or restrictions contained in this Agreement shall not defeat or render void invalid the lien of any Mortgage mortgage made in good faith and for value butas to the City Parcels, or any part thereof or interest therein, but unless otherwise provided herein, the terms, conditions, covenants, restrictions, easements, and reservations of this Agreement shall be binding and effective against the successful bidder at any foreclosure sale under holder of any such Mortgagemortgage of the City Parcels whose interest is acquired by foreclosure, transferee in lieu thereof trustee’s sale or similar transfereeotherwise.

Developer’s Breach Shall Not Defeat Mortgage Lien. Developer’s breach of any of the covenants or restrictions contained in this Agreement shall not defeat or render void invalid the lien of any Mortgage mortgage made in good faith and for value butas to the Agency Parcels, or any part thereof or interest therein, but unless otherwise provided herein, the terms, conditions, covenants, restrictions, easements, and reservations of this Agreement shall be binding and effective against the successful bidder at any foreclosure sale under holder of any such Mortgagemortgage of the Agency Parcels whose interest is acquired by foreclosure, transferee in lieu thereof trustee’s sale or similar transfereeotherwise.