Common use of Release of and Resort to Collateral Clause in Contracts

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien created in or evidenced by this Deed of Trust or its stature as a first and prior Lien in and to the Collateral, and without in any way releasing or diminishing the liability of any Person liable for the repayment of the Secured Obligations. For payment of the Secured Obligations, the Mortgagee may resort to any other security therefor held by the Mortgagee or the Trustee in such order and manner as the Mortgagee may elect.

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien created in or evidenced by this Deed of Trust Mortgage or its stature as a first and prior Lien in and to the Collateral, and without in any way releasing or diminishing the liability of any Person liable for the repayment of the Secured Obligations. For payment of the Secured Obligations, the Mortgagee may resort to any other security therefor held by the Mortgagee or the Trustee in such order and manner as the Mortgagee may elect.

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the mortgage, Lien or security interest created in or evidenced by this Deed of Trust Mortgage or its stature as a first and prior mortgage, Lien and security interest in and to the CollateralMortgaged Property, and without in any way releasing or diminishing the liability of any Person liable for the repayment payment or performance of the Secured Obligations. For payment of the Secured Obligations, the Mortgagee may resort to any other security therefor for the Obligations held by the Mortgagee or the Trustee in such manner and order and manner as the Mortgagee may elect.