Common use of Reaffirmation of Collateral Clause in Contracts

Reaffirmation of Collateral. The Mortgages and the other Loan Documents are hereby amended and extended to secure the entire indebtedness evidenced by the Note and the other Loan Documents, as amended and extended hereby. The Mortgaged Premises shall remain subject to the liens, operation and effect of the Mortgages, and nothing herein contained nor done pursuant hereto shall impair or adversely affect the lien, operation and effect of the Mortgages or their priority as a first liens on the Mortgaged Premises.

Appears in 4 contracts

Samples: Sixth Loan Modification Agreement (Blue Ridge Real Estate Co), Third Loan Modification Agreement (Blue Ridge Real Estate Co), Fifth Loan Modification Agreement (Blue Ridge Real Estate Co)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!