Common use of Waiver and Election Clause in Contracts

Waiver and Election. The exercise by the Bank of any option given under the terms of this security deed shall not be considered as a waiver of the right to exercise any other option given herein, and the filing of a suit to foreclose the lien, security interest and assignment granted by this security deed, either on any matured portion of the Debt or for the whole of the Debt, shall not be considered an election so as to preclude foreclosure under power of sale after a dismissal of the suit; nor shall the publication of notices for foreclosure preclude the prosecution of a later suit thereon. No failure or delay on the part of the Bank in exercising any right, power or remedy under this security deed shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder or thereunder. The remedies provided in this security deed and in the other Security Documents are cumulative and not exclusive of any remedies provided by law. No amendment, modification, termination or waiver of any provisions of this security deed or any of the Security Documents, nor consent to any departure by the Grantor therefrom, shall be effective unless the same shall be in writing and signed by an executive officer of the Bank, and then such waiver or consent shall be effective only in this specific instance and for the specific purpose for which given. No notice to, or demand on, the Grantor in any case shall entitle the Grantor to any other or further notice or demand in similar or other circumstances.

Waiver and Election. The exercise by the Bank Mortgagee of any option given under the terms of this security deed mortgage shall not be considered as a waiver of the right to exercise any other option given herein, and the filing of a suit to foreclose the lien, security interest and assignment granted by this security deedmortgage, either on any matured portion of the Debt or for the whole of the Debt, shall not be considered an election so as to preclude foreclosure under power of sale after a dismissal of the suit; nor shall the publication of notices for foreclosure preclude the prosecution of a later suit thereon. No failure or delay on the part of the Bank Mortgagee in exercising any right, power or remedy under this security deed mortgage shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder or thereunder. The remedies provided in this security deed mortgage and in the other Security Documents are cumulative and not exclusive of any remedies provided by law. No amendment, modification, termination or waiver of any provisions of this security deed mortgage or any of the Security Documents, nor consent to any departure by the Grantor Mortgagor therefrom, shall be effective unless the same shall be in writing and signed by an executive officer of the BankMortgagee, and then such waiver or consent shall be effective only in this specific instance and for the specific purpose for which given. No notice to, or demand on, the Grantor Mortgagor in any case shall entitle the Grantor Mortgagor to any other or further notice or demand in similar or other circumstances.

Waiver and Election. The exercise by the Bank Beneficiary of any option given under the terms of this security deed of trust shall not be considered as a waiver of the right to exercise any other option given herein, and the filing of a suit to foreclose the lien, security interest and assignment granted by this security deeddeed of trust, either on any matured portion of the Debt or for the whole of the Debt, shall not be considered an election so as to preclude foreclosure under power of sale after a dismissal of the suit; nor shall the publication of notices for foreclosure preclude the prosecution of a later suit thereon. No failure or delay on the part of the Bank Beneficiary in exercising any right, power or remedy under this security deed of trust shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder or thereunder. The remedies provided in this security deed and in the other Security Documents of trust are cumulative and not exclusive of any remedies provided by law. No amendment, modification, termination or waiver of any provisions of this security deed or any of the Security Documentstrust, nor consent to any departure by the Grantor Mortgagor therefrom, shall be effective unless the same shall be in writing and signed by an executive officer of the BankBeneficiary, and then such waiver or consent shall be effective only in this specific instance and for the specific purpose for which given. No notice to, or demand on, the Grantor Mortgagor in any case shall entitle the Grantor Mortgagor to any other or further notice or demand in similar or other circumstances.

Waiver and Election. The exercise by the Bank Grantee of any option right, power or remedy given under the terms of this security deed Security Instrument shall not be considered as a waiver of the right to exercise any other option right, power or remedy given herein, and the filing of a suit to foreclose the liensecurity title, security interest and assignment granted by this security deedSecurity Instrument, either on any matured portion of the Debt Obligations or for the whole of the DebtObligations, shall not be considered an election so as to preclude foreclosure under power of sale after a dismissal of the suit; nor shall the publication of notices for foreclosure preclude the prosecution of a later suit thereon. No failure or delay on the part of the Bank Grantee in exercising any right, power or remedy under this security deed Security Instrument shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder or thereunder. The remedies provided in this security deed and in the other Security Documents are cumulative and not exclusive of any remedies provided by law. No amendment, modification, termination or waiver of any provisions of this security deed or any of the Security Documents, nor consent to any departure by the Grantor therefrom, shall be effective unless the same shall be in writing and signed by an executive officer of the Bank, and then such waiver or consent shall be effective only in this specific instance and for the specific purpose for which given. No notice to, to or demand on, on the Grantor Borrower in any case shall entitle the Grantor Borrower to any other or further notice or demand in similar or other circumstances. The Borrower expressly waives the right to any notice of the assignment of the Notes or this Security Instrument and the right to enforce the provisions of any applicable Law requiring such notice.