Common use of Risk of Loss, etc Clause in Contracts

Risk of Loss, etc. (a) The risk of loss or damage to the Mortgaged Property is on Borrower, and Lender will have no liability whatsoever for a decline in the Mortgaged Property's value, for a failure to maintain the Policies, or for a failure to determine whether insurance in force is adequate as to the amount of risks insured. Possession by Lender will not be deemed an election of judicial relief, if any such possession is requested or obtained, against any Mortgaged Property or collateral not in Lender's possession. (b) Lender may resort for the payment of the Debt to any other security held by Lender in such order and manner as Lender, in its discretion, may elect. Lender may take action to recover the Debt, or any portion thereof, or to enforce any agreement hereof without prejudice to the right of Lender thereafter to foreclose the Indenture. The rights and remedies of Lender under the Indenture are separate, distinct and cumulative and none will be given effect to the exclusion of the others. No act of Lender will be construed as an election to proceed under any one provision under the Indenture to the exclusion of any other provision. Lender will not be limited exclusively to the rights and remedies stated in the Indenture but will be entitled to every right and remedy now or hereafter afforded at law or in equity.

Risk of Loss, etc. (a) The risk of loss or damage to the Mortgaged Property is on Borrower, and Lender will have no liability whatsoever for a decline in the Mortgaged Property's ’s value, for a failure to maintain the Policies, or for a failure to determine whether insurance in force is adequate as to the amount of risks insured. Possession by Lender will not be deemed an election of judicial relief, if any such possession is requested or obtained, against any Mortgaged Property or collateral not in Lender's ’s possession. (b) Lender may resort for the payment of the Debt to any other security held by Lender in such order and manner as Lender, in its discretion, may elect. Lender may take action to recover the Debt, or any portion thereof, or to enforce any agreement hereof without prejudice to the right of Lender thereafter to foreclose the Indenture. The rights and remedies of Lender under the Indenture are separate, distinct and cumulative and none will be given effect to the exclusion of the others. No act of Lender will be construed as an election to proceed under any one provision under the Indenture to the exclusion of any other provision. Lender will not be limited exclusively to the rights and remedies stated in the Indenture but will be entitled to may exercise every right and remedy now or hereafter afforded at law or in equity.