Common use of Mortgagee Reliance Clause in Contracts

Mortgagee Reliance. Mortgagor acknowledges that Mortgagee has examined and relied on the experience of Mortgagor and its members, owners in owning and operating properties such as the Property in agreeing to make or continue the Loan, and will continue to rely on Xxxxxxxxx’s ownership of the Property as a means of maintaining the value of the Property as security for repayment of the Debt, performance of the Secured Obligations, and the performance of the Obligations. Mortgagor acknowledges that Mortgagee has a valid interest in maintaining the value of the Property so as to ensure that, should Mortgagor default in the repayment of the Debt, performance of the Secured Obligations, or the performance of the Obligations, Mortgagee can recover the Debt by a sale of the Property.

Mortgagee Reliance. Mortgagor acknowledges Mortgagors acknowledge that Mortgagee has examined and relied on the experience of Mortgagor Mortgagors and its partners, members, principals and (if any Mortgagor is a trust) beneficial owners in owning and operating properties such as the Property in agreeing to make or continue the Loan, and will continue to rely on Xxxxxxxxx’s Mortgagors’ ownership of the Property as a means of maintaining the value of the Property as security for repayment of the Debt, performance of the Secured Obligations, payment and the performance of the Obligations. Mortgagor acknowledges Mortgagors acknowledge that Mortgagee has a valid interest in maintaining the value of the Property so as to ensure that, should Mortgagor Mortgagors default in the repayment of the Debt, performance of the Secured Obligations, or the payment and performance of the Obligations, Mortgagee can recover the Debt Obligations by a sale of the Property.

Mortgagee Reliance. Mortgagor acknowledges that Mortgagee has examined and relied on the experience of Mortgagor and its membersgeneral partners, owners members and principals in owning and operating properties such as the Property in agreeing to make or continue the LoanSenior Loan , and will continue to rely on XxxxxxxxxMortgagor’s ownership of the Property as a means of maintaining the value of the Property as security for repayment of the Debt, performance of the Secured Obligations, Debt and the performance of the Other Obligations. Mortgagor acknowledges that Mortgagee has a valid interest in maintaining the value of the Property so as to ensure that, should Mortgagor default in the repayment of the Debt, performance of the Secured Obligations, Debt or the performance of the Other Obligations, Mortgagee can recover the Debt by a sale of the Property.

Mortgagee Reliance. Mortgagor acknowledges that Mortgagee has examined and relied on the experience of Mortgagor and its membersgeneral partners, owners members and principals in owning and operating properties such as the Property in agreeing to make or continue the LoanProject Loan , and will continue to rely on XxxxxxxxxMortgagor’s ownership of the Property as a means of maintaining the value of the Property as security for repayment of the Debt, performance of the Secured Obligations, Debt and the performance of the Other Obligations. Mortgagor acknowledges that Mortgagee has a valid interest in maintaining the value of the Property so as to ensure that, should Mortgagor default in the repayment of the Debt, performance of the Secured Obligations, Debt or the performance of the Other Obligations, Mortgagee can recover the Debt by a sale of the Property.

Mortgagee Reliance. Mortgagor acknowledges that Mortgagee has examined and relied on the experience of Mortgagor and its membersgeneral partners, owners members and principals in owning and operating properties such as the Property in agreeing to make or continue the Building Loan, and will continue to rely on XxxxxxxxxMortgagor’s ownership of the Property as a means of maintaining the value of the Property as security for repayment of the Debt, performance of the Secured Obligations, Debt and the performance of the Other Obligations. Mortgagor acknowledges that Mortgagee has a valid interest in maintaining the value of the Property so as to ensure that, should Mortgagor default in the repayment of the Debt, performance of the Secured Obligations, Debt or the performance of the Other Obligations, Mortgagee can recover the Debt by a sale of the Property.