Common use of Limits on Personal Liability Clause in Contracts

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 47 contracts

Samples: Multifamily Note, Multifamily Note, ww3.freddiemac.com

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Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall will have no personal liability under this Note, the Security Instrument Loan Agreement or any other Loan Document for the repayment of the Indebtedness or for the performance of or compliance with any other obligations of Borrower under the Loan Documents and Xxxxxx's ’s only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall will be Lender's ’s exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender Xxxxxx as security for the Indebtedness. This limitation on Borrower's ’s liability shall will not limit or impair Lender's ’s enforcement of its rights against any guarantor Guarantor of the Indebtedness or any guarantor Guarantor of any other obligations of Borrower.

Appears in 28 contracts

Samples: Regulatory Agreement (KBS Strategic Opportunity REIT II, Inc.), Steadfast Income REIT, Inc., Steadfast Income REIT, Inc.

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's ’s only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's ’s exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's ’s liability shall not limit or impair Lender's ’s enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 26 contracts

Samples: Multifamily Note (KBS Legacy Partners Apartment REIT, Inc.), Multifamily Note (Behringer Harvard Opportunity REIT II, Inc.), Multifamily Note (Paladin Realty Income Properties Inc)

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and XxxxxxLender's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 24 contracts

Samples: Multifamily Note (Angeles Income Properties LTD 6), Multifamily Note (Shelter Properties Ii LTD Partnership), Multifamily Note (Century Properties Fund Xvii)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 17 contracts

Samples: Multifamily Note, Replacement Reserve Agreement, Multifamily Note (Maxus Realty Trust Inc.)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and Xxxxxx's only Lendxx'x xnly recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 5 contracts

Samples: Multifamily Note (Alterra Healthcare Corp), Multifamily Note (Sunrise Assisted Living Inc), Historic Preservation Properties 1989 Limited Partnership

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's Lxxxxx’s only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's ’s exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's ’s liability shall not limit or impair Lender's ’s enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 4 contracts

Samples: Preferred Apartment Communities Inc, Preferred Apartment Communities Inc, Post Properties Inc

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall will have no personal liability under this Note, the Security Instrument Loan Agreement or any other Loan Document for the repayment of the Indebtedness or for the performance of or compliance with any other obligations of Borrower under the Loan Documents and Xxxxxx's ’s only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall will be Lender's Xxxxxx’s exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender Xxxxxx as security for the Indebtedness. This limitation on Borrower's ’s liability shall will not limit or impair Lender's ’s enforcement of its rights against any guarantor Guarantor of the Indebtedness or any guarantor Guarantor of any other obligations of Borrower.

Appears in 4 contracts

Samples: Independence Realty Trust, Inc, Independence Realty Trust, Inc, Independence Realty Trust, Inc

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower Co-Maker shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on BorrowerCo-Maker's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 2 contracts

Samples: Multifamily Note, Multifamily Note

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's ’s only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's Xxxxxx’s exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender Xxxxxx as security for the Indebtedness. This limitation on Borrower's ’s liability shall not limit or impair Lender's ’s enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 2 contracts

Samples: Emeritus Corp\wa\, Paladin Realty Income Properties Inc

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction of the Indebtedness and the performance xxx xxrformance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 2 contracts

Samples: Multifamily Note (University Real Estate Partnership V), Assisted Living Concepts Inc

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property (as such term is defined in the Security Instrument) and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 2 contracts

Samples: Multifamily Note (Emeritus Corp\wa\), Multifamily Note (American Community Properties Trust)

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall will have no personal liability under this Note, the Security Instrument Loan Agreement or any other Loan Document for the repayment of the Indebtedness or for the performance of or compliance with any other obligations of Borrower under the Loan Documents and Xxxxxx's Lxxxxx’s only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall will be Lender's ’s exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender Lxxxxx as security for the Indebtedness. This limitation on Borrower's ’s liability shall will not limit or impair Lender's ’s enforcement of its rights against any guarantor Guarantor of the Indebtedness or any guarantor Guarantor of any other obligations of Borrower.

Appears in 2 contracts

Samples: Bluerock Residential Growth REIT, Inc., Bluerock Residential Growth REIT, Inc.

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction xxxxxxaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 2 contracts

Samples: And Security Agreement (Krupp Realty LTD Partnership V), Multifamily Note (Vinings Investment Properties Trust/Ga)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property (as such term is defined in the Security Instrument) and to any other collateral held by Lender Xxxxxx as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 2 contracts

Samples: Multifamily Note (Davidson Income Real Estate Lp), Emeritus Corp\wa\

Limits on Personal Liability. (a) Except as otherwise provided in this Section tills Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the tile Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the xxx satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the IndebtednessXxxxxtedness. This limitation on oil Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Historic Preservation Properties 1989 Limited Partnership)

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be LenderXxxxxx's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender Xxxxxx as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Emeritus Corp\wa\)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction sxxxxxxction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Vinings Investment Properties Trust/Ga)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Century Properties Fund Xviii)

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Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower. .

Appears in 1 contract

Samples: Steadfast Income REIT, Inc.

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property (as such term is defined in the Security Instrument) and to any other collateral held by Lender Lxxxxx as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Acknowledgment and Agreement (Bluerock Enhanced Multifamily Trust, Inc.)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction of the Indebtedness Indxxxxxxess and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Secured Investment Resources Fund Lp Iii)

Limits on Personal Liability. (a1) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Wellsford Real Properties Inc

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction saxxxxxxtion of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Century Properties Fund Xvii)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction of the Indebtedness and the xxx xxe performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Cornerstone Realty Income Trust Inc)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction of the Indebtedness Indebtxxxxxx and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Multifamily Note (Roberts Realty Investors Inc)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and Xxxxxx's ’s only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's ’s exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's ’s liability shall not limit or impair Lender's Xxxxxx’s enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Assisted Living Concepts Inc

Limits on Personal Liability. (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan an Documents and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Davidson Diversified Real Estate Ii Limited Partnership

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property (as such term is defined in the Security Instrument) and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor or indemnitor of the Indebtedness or any guarantor or indemnitor of any other obligations of Borrower.

Appears in 1 contract

Samples: And Security Agreement (Clipper Realty Inc.)

Limits on Personal Liability. (a) Except as otherwise provided in this Section Paragraph 9, Borrower shall have no personal liability under this Note, the Security Instrument Instrument, the Credit Agreement or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents Documents, and XxxxxxLender's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Collateral Pool Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

Appears in 1 contract

Samples: Credit Agreement (United Dominion Realty Trust Inc)

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