Common use of Splitting of Security Instrument Clause in Contracts

Splitting of Security Instrument. This Security Instrument and the Note may, at any time until the same shall be fully paid and satisfied, at the sole election of Lender, be split or divided into two or more notes and two or more security instruments, each of which shall cover all or a portion of the Property to be more particularly described therein. To that end, Xxxxxxxxx, upon written request of Xxxxxx, shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered by the then owner of the Property, to Lender and/or its designee or designees, substitute notes and security instruments in such principal amounts, aggregating not more than the then unpaid principal amount of the Note, and containing terms, provisions and clauses identical to those contained herein and in the Note, and such other documents and instruments as may be required by Xxxxxx.

Splitting of Security Instrument. This Security Instrument and the Note may, at any time until the same shall be fully paid and satisfied, at the sole election of Lender, be split or divided into two or more notes and two or more security instruments, each of which shall cover all or a portion of the Property to be more particularly described therein. To that end, XxxxxxxxxGrantor, upon written request of XxxxxxLender, shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered by the then owner of the Property, to Lender and/or its designee or designees, substitute notes and security instruments in such principal amounts, aggregating not more than the then unpaid principal amount of the Note, and containing terms, provisions and clauses identical to those contained herein and in the Note, and such other documents and instruments as may be required by Xxxxxx.

Splitting of Security Instrument. This Security Instrument -------------------------------- and the Note mayshall, at any time until the same shall be fully paid and satisfied, at the sole election of Lender, be split or divided into two or more notes and two or more security instruments, each of which shall cover all or a portion of the Property to be more particularly described therein. To that end, XxxxxxxxxBorrower, upon written request of XxxxxxLender, shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered by the then owner of the Property, to Lender and/or its designee or designees, designees substitute notes and security instruments in such principal amounts, aggregating not more than the then unpaid principal amount of the Notethis Security Instrument, and containing terms, provisions and clauses identical similar to those contained herein and in the Note, and such other documents and instruments as may be required by XxxxxxLender.

Splitting of Security Instrument. This Security Instrument and the Note mayshall, at any time until the same shall be fully paid and satisfied, at the sole election and expense of Lender, be split or divided into two or more notes and two or more security instruments, each of which shall cover all or a portion of the Property to be more particularly described therein. To that end, XxxxxxxxxBorrower, upon written request of XxxxxxLender, shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered by the then owner of the Property, to Lender and/or its designee or designees, designees substitute notes and security instruments in such principal amounts, aggregating not more than the then unpaid principal amount of the Notethis Security Instrument, and containing the same effective terms, provisions and clauses identical to as those contained herein and in the Note, and such other documents and instruments as may be reasonably required by XxxxxxLender.

Splitting of Security Instrument. This Security Instrument and the Note may, at any time until the same shall be fully paid and satisfied, at the sole election of Lender, be split or divided into two or more notes and two or more security instruments, each of which shall cover all or a portion of the Property to be more particularly described therein. To that end, XxxxxxxxxGrantor, upon written request of XxxxxxLender, shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered by the then owner of the Property, to Lender and/or its designee or designees, substitute notes and security instruments in such principal amounts, aggregating not more than the then unpaid principal amount of the Note, and containing terms, provisions and clauses identical to those contained herein and in the Note, and such other documents and instruments as may be required by XxxxxxLender.