Common use of Term of Assignment Clause in Contracts

Term of Assignment. If the Indebtedness secured hereby and by the Deed of Trust are paid as the same become due and payable and if all of the covenants, warranties, undertakings and agreements made in the Deed of Trust, the Contract and in this Assignment are kept and performed, this Assignment shall become null and void and of no further force and effect but the affidavit, certificate, letter or statement of any officer, agent or attorney of Assignee showing any portion of the Indebtedness remains unpaid or any of such covenants, warranties, undertakings and agreements have not been kept or performed shall be and constitute conclusive evidence of the validity, effectiveness and continuing force of this Assignment and any person may, and is hereby authorized to, rely thereon.

Term of Assignment. If the Indebtedness Loan and all other indebtedness secured hereby and by the Deed of Trust Loan Documents are paid as the same become due and payable and if all of the covenants, warranties, undertakings and agreements made in the Deed of Trust, the Contract Loan Documents and in this Assignment are kept and performed, this Assignment shall become null and void and of no further force and effect but the affidavit, certificate, letter or statement of any officer, agent or attorney of Assignee Lender showing any portion of the Indebtedness remains Loan or such other indebtedness to remain unpaid or any of such covenants, warranties, undertakings and agreements have not been to be kept or performed shall be and constitute conclusive evidence of the validity, effectiveness and continuing force of this Assignment and any person may, and is hereby authorized to, rely thereon.