Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor contained in Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 7 contracts
Samples: Inland American (Inland American Real Estate Trust, Inc.), Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.), Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, including Section 9.4 9.3 of the Loan Agreement, to the fullest extent permitted by applicable law, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Borrower contained in Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the LoanBorrower. The provisions of Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are is fully and personally liable for the obligations pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement, Agreement whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 9 herein.
Appears in 4 contracts
Samples: Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 10.22 of the Loan Agreement, Lender Mortgagee and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Mortgagor contained in Sections 9.2, 9.3 and 9.4 herein Section 9.2 and Section 9.4 of the Loan Agreement 9.3 herein without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender Mortgagee commences a foreclosure action against the Property, Lender Mortgagee is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor Mortgagor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein Section 9.2 and Section 9.4 of the Loan Agreement 9.3 herein are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor Mortgagor with respect to the Loan are is fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein Section 9.2 and Section 9.4 9.3 herein. Notwithstanding the foregoing, Mortgagee shall make no claim and commence no action against the members of the Loan AgreementESBA or any investor or participant in ESBA. The liability of Borrower and any guarantor or indemnitor with respect to the Loan Mortgagor pursuant to Sections 9.2, 9.3 and 9.4 herein Section 9.2 and Section 9.4 of the Loan Agreement 9.3 herein is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender Mortgagee from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower Mortgagor pursuant to Sections 9.2, 9.3 and 9.4 herein Section 9.2 and Section 9.4 of the Loan Agreement9.3 herein, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender Mortgagee shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 3 contracts
Samples: And Rents and Security Agreement (Empire State Building Associates L.L.C.), And Rents and Security Agreement (Empire State Realty Trust, Inc.), And Rents and Security Agreement (Empire State Realty Trust, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision prov1s1on of this Mortgage Deed of Trust or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and the other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, Borrower and any guarantor or indemnitor of the Loan contained in Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or exercises the power of sale pursuant to this Deed of Trust, Lender is shall be entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or Deed of Trust and/or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Obligations set forth in said Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Obligations set forth in Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising a power of sale pursuant to this Deed of Trust or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and Deed of Trust and/or the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant with respect to the Obligations set forth in Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement, whether or not an action is brought against any other Person or and whether or not any other Person is joined in the such action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 2 contracts
Samples: Rents and Security Agreement (Lodging Fund REIT III, Inc.), Security Agreement (Lodging Fund REIT III, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan AgreementSecurity Instrument, including, without limitation, Section 9.4 of the Loan Agreementincluding but not limited to Article 13 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section 11.1 below) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Guarantor and Indemnitor contained in Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement 11.3 without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the LoanIndemnitor. The provisions of Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement 11.3 are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the Loan Indemnitor are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement11.3. The liability of Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to Indemnitor for the Loan obligations pursuant to Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement is 11.3 are not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 2 contracts
Samples: And Spreader Agreement and Security Agreement, Extension and Spreader Agreement and Security Agreement (Sun Communities Inc)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, including Section 9.4 9.3 of the Loan Agreement, to the fullest extent permitted by applicable law, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Borrower contained in Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the LoanBorrower. The provisions of Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are is fully and personally liable for the obligations pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement, Agreement whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender Xxxxxx shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 9 herein.
Appears in 2 contracts
Samples: Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Fidelity National Title Agency (TNP Strategic Retail Trust, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or and indemnitor contained in Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreementherein. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreementherein, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Cedar Shopping Centers Inc), Mortgage and Security Agreement (Cedar Shopping Centers Inc)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan AgreementSecurity Instrument, including, without limitation, Section 9.4 of the Loan Agreementincluding but not limited to Article 13 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section 11.1 below) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Guarantor and Indemnitor contained in Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement 11.3 without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender Lxxxxx is entitled to pursue a deficiency judgment with respect to such obligations against Borrower Bxxxxxxx, Guarantor and any guarantor or indemnitor with respect to the LoanIndemnitor. The provisions of Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement 11.3 are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the Loan Indemnitor are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement11.3. The liability of Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to Indemnitor for the Loan obligations pursuant to Sections 9.2, 9.3 11.2 and 9.4 herein and Section 9.4 of the Loan Agreement is 11.3 are not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Sun Communities Inc), Mortgage and Security Agreement (Sun Communities Inc)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan AgreementSecurity Instrument, including, without limitation, Section 9.4 of the Loan Agreementincluding but not limited to Article 15 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section 13.1 below) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Guarantor and Indemnitor contained in Sections 9.213.2, 9.3 13.3 and 9.4 herein and Section 9.4 of the Loan Agreement 13.4 without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and Borrower, any guarantor or indemnitor with respect to the LoanGuarantor and/or Indemnitor. The provisions of Sections 9.213.2, 9.3 13.3 and 9.4 herein and Section 9.4 of the Loan Agreement 13.4 are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Other Security Documents, and Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the Loan Indemnitor are fully and personally liable for the obligations pursuant to Sections 9.2Subsections 13.2, 9.3 13.3 and 9.4 herein and Section 9.4 of the Loan Agreement13.4. The liability of Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement Indemnitor is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Other Security Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 12 or Section 9.4 herein13.4.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Cedar Income Fund LTD /Md/), Mortgage and Security Agreement (Cedar Income Fund LTD /Md/)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, to the fullest extent permitted by applicable law and the provisions of Section 9.4 9.3 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Borrower contained in Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower if and any guarantor or indemnitor with respect to the Loanextent permitted under the terms of Section 9.3 of the Loan Agreement. The provisions of Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are is fully and personally liable for the obligations pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement, Agreement whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 IX herein.
Appears in 2 contracts
Samples: Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Security Agreement and Fixture Filing (Moody National REIT II, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or and indemnitor contained in Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or otherwise causes Trustee to exercise the power of sale pursuant to this Security Instrument, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreementherein. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender or Trustee from foreclosing or exercising a power of sale pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 1 contract
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and the other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or and indemnitor of the Loan contained in Sections 8.1, 8.2 and 8.3 herein and Sections 9.2, 9.3 11.13 and 9.4 herein and Section 9.4 11.22 of the Loan Agreement Agreement, under the Environmental Indemnity, the Assignment of Leases and any other indemnity obligation in the Loan Documents (collectively, the “Personal Liabilities”) without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or exercises the power of sale pursuant to this Mortgage, Lender is shall be entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement Personal Liabilities are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of Obligations set forth in the Loan AgreementPersonal Liabilities. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Obligations set forth in Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising a power of sale pursuant to this Mortgage or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant with respect to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementObligations set forth in the Personal Liabilities, whether or not an action is brought against any other Person or and whether or not any other Person is joined in the action or actions. In addition, Lender Xxxxxx shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Samples: TNP Strategic Retail Trust, Inc.
Recourse and Choice of Remedies. Notwithstanding To the extent permitted under California law, notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 9.2 of the Loan Agreement, Lender Agent and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Individual Borrower or any other Borrower, any guarantor or and indemnitor contained in Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale, or acceptance of a deed in lieu of foreclosure or otherwise, and upon the occurrence and during the continuation of an Event of Default, in the event Lender Agent commences a foreclosure action against the Property, Lender Agent and/or Trustee is entitled to pursue a deficiency judgment with respect to such obligations against Individual Borrower (but not any partner, member, shareholder, officer, director or agent of Individual Borrower), any other Borrower, and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Individual Borrower, any other Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 8.2 and 9.4 herein and Section 9.4 of the Loan Agreement8.3 herein. The liability of Borrower Individual Borrower, any other Borrower, and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, to the extent permitted under California law, nothing herein shall inhibit or prevent Lender Agent or Trustee from foreclosing foreclosing, or exercising a power of sale pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Individual Borrower pursuant to Sections 9.2, 9.3 8.2 and 9.4 herein and Section 9.4 of the Loan Agreement8.3 herein, whether or not action is brought against any other Borrower or other Person or whether or not any other Borrower or other Person is joined in the action or actions. In addition, Lender Agent shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 1 contract
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any Borrower and any guarantor or and indemnitor contained in Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or otherwise exercises the power of sale pursuant to this Security Instrument, Lender is entitled to pursue a deficiency judgment with respect to such obligations against any Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and any Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement. The liability of any Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising a power of sale pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against any Borrower pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor contained in Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 1 contract
Samples: , Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Deed of Trust or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, and to the extent permitted by law, Lender and the other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, Borrower and any guarantor or indemnitor of the Loan contained in Sections 9.2SECTIONS 8.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 SECTION 9.2 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or otherwise causes Trustee to exercise the power of sale pursuant to this Deed of Trust, Lender is shall be entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2SECTIONS 8.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 SECTION 9.2 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or Deed of Trust and/or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the 212 Loan are fully and personally liable for the obligations pursuant to Sections 9.2Obligations set forth in said SECTIONS 8.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 SECTION 9.2 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2Obligations set forth in SECTIONS 8.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 SECTION 9.2 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender or Trustee from foreclosing or exercising a power of sale pursuant to this Deed of Trust or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and Deed of Trust and/or the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant with respect to Sections 9.2the Obligations set forth in SECTIONS 8.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 SECTION 9.2 of the Loan Agreement, whether or not an action is brought against any other Person or and whether or not any other Person is joined in the such action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Samples: Leases and Rents and Security Agreement (Horizon Group Properties Inc)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and the other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or and indemnitor of the Loan contained in Sections 8.1, 8.2 and 8.3 herein and Sections 9.2, 9.3 11.13 and 9.4 herein and Section 9.4 11.22 of the Loan Agreement Agreement, under the Environmental Indemnity, the Assignment of Leases and any other indemnity obligation in the Loan Documents (collectively, the “Personal Liabilities”) without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or exercises the power of sale pursuant to this Mortgage, Lender is shall be entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement Personal Liabilities are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of Obligations set forth in the Loan AgreementPersonal Liabilities. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Obligations set forth in Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising a power of sale pursuant to this Mortgage or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant with respect to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementObligations set forth in the Personal Liabilities, whether or not an action is brought against any other Person or and whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Samples: www.sec.gov
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender Mortgagee and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of BorrowerMortgagor, any guarantor or and indemnitor contained in Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender Mortgagee commences a foreclosure action against the Property, Lender Mortgagee is entitled to pursue a deficiency judgment with respect to such obligations against Borrower Mortgagor and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower Mortgagor and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreementherein. The liability of Borrower Mortgagor and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender Mortgagee from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower Mortgagor pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender Mortgagee shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Pennsylvania Real Estate Investment Trust)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan AgreementSecurity Instrument, including, without limitation, Section 9.4 of the Loan Agreementincluding but not limited to Article 15 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section 13.1 below) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Guarantor and Indemnitor contained in Sections 9.2, 9.3 13.2 and 9.4 herein 13.3 and Section 9.4 of the Loan Agreement 13.4 without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the LoanIndemnitor. The provisions of Sections 9.213.2 and 13.3, 9.3 13.4 and 9.4 herein and Section 9.4 of the Loan Agreement 15.3 are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Other Security Documents, and Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the Loan Indemnitor are fully and personally liable for the obligations pursuant to Sections 9.213.2 and 13.3, 9.3 13.4 and 9.4 herein and Section 9.4 of the Loan Agreement15.3. The liability of Borrower Borrower, Guarantor and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is Indemnitor are not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Other Security Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 12 or Section 9.4 herein13.4.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Wellsford Real Properties Inc)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan AgreementSecurity Instrument, includingincluding but not limited to Article 15 hereof, without limitation, Section 9.4 of the Loan Agreement, Lender Beneficiary and other Indemnified Parties (as hereinafter defineddefined in Section 13.1 below) are entitled to enforce the obligations of BorrowerGrantor, any guarantor or indemnitor Guarantor and Indemnitor contained in Sections 9.213.2, 9.3 13.3 and 9.4 herein and Section 9.4 of the Loan Agreement 13.4 without first resorting to or exhausting any security or collateral and without first having recourse to the Note Guaranty or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender Trustee or Beneficiary commences a foreclosure action against the Property, Lender Beneficiary is entitled to pursue a deficiency judgment with respect to such obligations against Borrower Grantor, Guarantor and any guarantor or indemnitor with respect to the LoanIndemnitor. The provisions of Sections 9.213.2, 9.3 13.3 and 9.4 herein and Section 9.4 of the Loan Agreement 13.4 are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the NoteGuaranty, this Mortgage Security Instrument or the other Loan Other Security Documents, and Borrower Grantor, Guarantor and any guarantor or indemnitor with respect to the Loan Indemnitor are fully and personally liable for the obligations pursuant to Sections 9.213.2, 9.3 13.3 and 9.4 herein and Section 9.4 of the Loan Agreement13.4. The liability of Borrower Grantor, Guarantor and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is Indemnitor are not limited to the original principal amount of amounts due under the NoteGuaranty. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender Trustee or Beneficiary from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the NoteGuaranty, this Mortgage Security Instrument and the other Loan Other Security Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementGrantor, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, Lender Beneficiary shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 12 or Section 9.4 herein13.4.
Appears in 1 contract
Samples: Trust and Security Agreement (Pennsylvania Real Estate Investment Trust)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor contained in Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 VIII or Section 9.4 herein.
Appears in 1 contract
Samples: Mortgage, Security Agreement (Inland American Real Estate Trust, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Borrower contained in Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Morgans Hotel Group Co.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan Agreement, including, without limitation, Section 9.4 9.3 of the Loan Agreement, to the fullest extent permitted by applicable law, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Borrower contained in Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the LoanBorrower. The provisions of Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are is fully and personally liable for the obligations pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 9 herein.
Appears in 1 contract
Samples: Security Agreement (Inland Diversified Real Estate Trust, Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 9.2 of the Loan Agreement, Lender Agent and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Individual Borrower or any other Borrower, any guarantor or and indemnitor contained in Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale, or acceptance of a deed in lieu of foreclosure or otherwise, and upon the occurrence and during the continuation of an Event of Default, in the event Lender Agent commences a foreclosure action against the Property, Lender Agent and/or Trustee is entitled to pursue a deficiency judgment with respect to such obligations against Individual Borrower (but not any partner, member, shareholder, officer, director or agent of Individual Borrower), any other Borrower, and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Individual Borrower and or any guarantor or indemnitor other Borrower with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 8.2 and 9.4 herein and Section 9.4 of the Loan Agreement8.3 herein. The liability of Borrower Individual Borrower, any other Borrower, and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender Agent or Trustee from foreclosing foreclosing, or exercising a power of sale pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Individual Borrower pursuant to Sections 9.2, 9.3 8.2 and 9.4 herein and Section 9.4 of the Loan Agreement8.3 herein, whether or not action is brought against any other Borrower or other Person or whether or not any other Borrower or other Person is joined in the action or actions. In addition, Lender Agent shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 1 contract
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender and the other Indemnified Parties (as hereinafter defined) are entitled to enforce against Borrower and Operator the obligations of Borrower, any guarantor or indemnitor Borrower and Operator contained in Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the LoanBorrower. The provisions of Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are are, relative to Borrower and Operator, exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan Operator are fully and personally liable for the obligations pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan AgreementAgreement with respect to their respective obligations set forth in such sections. The liability of Borrower and Operator (but not any guarantor partner, member, shareholder, officer, director or indemnitor with respect to the Loan agent of Borrower or Operator) pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower and Operator pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement, Agreement whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 9 herein.
Appears in 1 contract
Samples: Fixture Filing and Security Agreement (BRE Select Hotels Corp)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce (i) the obligations of Borrower contained in Sections 8.2 and 8.3 herein, and (ii) the obligations of Borrower, any guarantor or and indemnitor contained in Sections 9.2, 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement without Agreement, without, in either case, first resorting to or exhausting any security or collateral and without without, in either case, first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or exercises the power of sale pursuant to this Mortgage, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and (i) Borrower is fully and personally liable for the obligations pursuant to Sections 8.2 and 8.3 herein, (ii) Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement. The liability of (i) Borrower with respect to the Loan pursuant to Sections 8.2 and 8.3 herein, or (ii) Borrower, any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Section 9.4 9.2 of the Loan Agreement Agreement, is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising a power of sale pursuant to this Mortgage or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Samples: Rents and Security Agreement (Glimcher Realty Trust)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or and indemnitor contained in Sections 9.2, Section 9.2 and Section 9.3 and 9.4 herein and Section 9.4 10.12 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or otherwise causes Trustee to exercise the power of sale pursuant to this Security Instrument, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 and 9.4 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, Section 9.2 and Section 9.3 and 9.4 herein and Section 9.4 10.12 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, Section 9.2 and Section 9.3 and 9.4 herein and Section 9.4 10.12 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender or Trustee from foreclosing or exercising a power of sale pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.2, Section 9.2 and Section 9.3 and 9.4 herein and Section 9.4 10.12 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Samples: Electro Scientific Industries Inc
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Deed of Trust or the Loan Agreement, including, without limitation, Section 9.4 11.22 of the Loan Agreement, Lender and the other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, Borrower and any guarantor or indemnitor of the Loan contained in Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and in Section 9.4 9.2 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure foreclosure, exercise of a power of sale or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, or exercises the power of sale pursuant to this Deed of Trust, Lender is shall be entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the Loan, as applicable. The provisions of Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage or Deed of Trust and/or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Obligations set forth in said Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and in said Section 9.4 9.2 of the Loan Agreement. The liability of Borrower with respect to the Obligations set forth in Sections 8.1, 8.2 and 8.3 herein and Borrower and any guarantor or indemnitor of the Loan with respect to the Loan pursuant to Sections 9.2, 9.3 and 9.4 herein and Obligations set forth in Section 9.4 9.2 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising a power of sale pursuant to this Deed of Trust or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage and Deed of Trust and/or the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant with respect to the Obligations set forth in Sections 9.28.1, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 9.2 of the Loan Agreement, whether or not an action is brought against any other Person or and whether or not any other Person is joined in the such action or actions. In addition, Lender Xxxxxx shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 hereinthe Environmental Indemnity.
Appears in 1 contract
Samples: Security Agreement and Fixture Filing (Glimcher Realty Trust)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Security Instrument or the Loan Agreement, including, without limitation, Section 9.4 of the Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, Individual Borrower and any guarantor or and indemnitor contained in Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Individual Borrower and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Security Instrument or the other Loan Documents, and Individual Borrower and any guarantor or indemnitor with respect to the Loan are fully and personally liable for the obligations pursuant to Sections 9.2, 9.3 8.2 and 9.4 herein and Section 9.4 of the Loan Agreement8.3 herein. The liability of Individual Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Individual Borrower pursuant to Sections 9.2, 9.3 8.2 and 9.4 8.3 herein and Section 9.4 of the Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 herein.
Appears in 1 contract
Samples: Mortgage and Security Agreement (BlueLinx Holdings Inc.)
Recourse and Choice of Remedies. Notwithstanding any other provision of this Mortgage Deed of Trust or the Loan Agreement, including, without limitation, Section 9.4 9.3 of the Loan Agreement, to the fullest extent permitted by applicable law, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of Borrower, any guarantor or indemnitor Borrower contained in Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower and any guarantor or indemnitor with respect to the LoanBorrower. The provisions of Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement are exceptions to any non-recourse or exculpation provisions in the Loan Agreement, the Note, this Mortgage Deed of Trust or the other Loan Documents, and Borrower and any guarantor or indemnitor with respect to the Loan are is fully and personally liable for the obligations pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement. The liability of Borrower and any guarantor or indemnitor with respect to the Loan pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement is not limited to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Loan Agreement, the Note, this Mortgage Deed of Trust and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against Borrower pursuant to Sections 9.29.1, 9.2 and 9.3 and 9.4 herein and Section 9.4 9.3 of the Loan Agreement, Agreement whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in Article 8 or Section 9.4 9 herein.
Appears in 1 contract
Samples: And Security Agreement (TNP Strategic Retail Trust, Inc.)
