Common use of MORTGAGE PROTECTION CLAUSE Clause in Contracts

MORTGAGE PROTECTION CLAUSE. No breach of the covenants, conditions, or restrictions herein contained for the enforcement of any lien provisions herein shall defeat or render invalid the lien of any prior mortgage given in good faith and for value, but said covenants, conditions and restrictions shall be binding upon and effective against any Owner whose title is derived through foreclosure or other judicial sale or in lieu of such of any prior mortgage.

MORTGAGE PROTECTION CLAUSE. No breach Breach of the covenants, conditions, conditions or restrictions herein contained for the enforcement of any lien provisions herein shall defeat or render invalid the lien of any prior mortgage given in good faith and for value, but said covenants, conditions and restrictions shall be binding upon and effective against any Owner owner whose title is derived through foreclosure or other judicial sale sale, or in lieu of such of any prior mortgage.