Common use of Due on Sale and No Release Clause in Contracts

Due on Sale and No Release. In the event of a sale, conveyance or transfer of the Property or any portion thereof, all Indebtedness secured hereunder shall at the Lender's option, become due and payable forthwith unless the prior written consent of the Lender has been obtained which may be arbitrarily withheld. The Borrower is not released from the Indebtedness or the Obligations only because the Borrower transfers or otherwise conveys, or purports to transfer or otherwise convey, the Property or any interest therein.