Common use of Waiver of Lien Clause in Contracts

Waiver of Lien. In accordance with California Code of Civil Procedure Section 726.5, Beneficiary may waive its lien against the Trust Property constituting real property or any portion thereof, together with fixtures or personal property constituting real property thereon, to the extent such Trust Property constituting real property is found to be environmentally impaired, and may exercise any and all rights and remedies of an unsecured creditor against Trustor and all of Trustor's assets and Trust Property constituting real property for the recovery of any deficiency, including without limitation seeking an attachment order under California Code of Civil Procedure Section 483.010. No such waiver shall be final or binding on Beneficiary unless and until a final money judgment is obtained against Trustor. As between Beneficiary and Trustor, for purposes of California Code of Civil Procedure Section 726.5, Trustor shall have the burden of proving that the release or threatened release was not knowingly or negligently caused or contributed to, or knowingly or willfully permitted or acquiesced to by Trustor or any related party (or any affiliate or agent of Trustor or any related party) and that Trustor made written disclosure of the release to Beneficiary or that Beneficiary otherwise obtained actual knowledge thereof prior to the making of the loan evidenced by the Financing Agreement. Notwithstanding anything to the contrary contained in this Deed of Trust, the Financing Agreement or the other Loan Documents, Trustor shall be fully and personally liable for all judgments and awards entered against Trustor pursuant to California Code of Civil Procedure 726.5 and such liability shall be an exception to any non-recourse or exculpatory provision in this Deed of Trust or the other Loan Documents, if any, and shall not be limited to the original principal amount of the obligations secured by this Deed of Trust. Trustor's obligations hereunder shall survive the foreclosure, deed in lieu of foreclosure, release, reconveyance or any other transfer of the Trust Property constituting real property or this Deed of Trust. For the purpose of any action brought under this Section, Trustor hereby waives the defense of laches and any applicable statute of limitations. For purposes of California Code of Civil Procedure 726.5, the acts, knowledge and notice of each "726.5 Party" shall be attributed to and be deemed to have been performed by the party or parties then obligated on and liable for payment of the Obligations. As used herein, "726.5 Party" shall mean Trustor, any successor owner to Trustor of all or any portion of the Trust Property constituting real property, any related party of Trustor or any such successor and any affiliate or agent of Trustor, any such successor or any such related party.

Waiver of Lien. In accordance with California Code of Civil Procedure Section 726.5, Beneficiary Lender may waive its lien against the Trust Mortgaged Property constituting real property or any portion thereof, together with fixtures or personal property constituting real property thereon, to the extent such Trust Property constituting real property is found to be environmentally impaired, and may may, subject to the requirements of such Section 726.5, exercise any and all rights and remedies of an unsecured creditor against Trustor Borrower and all of Trustor's Borrower’s assets and Trust Property constituting real property for the recovery of any deficiency, including including, without limitation limitation, seeking an attachment order under California Code of Civil Procedure Section 483.010. No such waiver shall be final or binding on Beneficiary Lender unless and until a final money judgment is obtained against TrustorBorrower. As between Beneficiary Lender and TrustorBorrower, for purposes of California Code of Civil Procedure Section 726.5, Trustor Borrower shall have the burden of proving that the release or threatened release was not knowingly or negligently caused or contributed to, or knowingly or willfully permitted or acquiesced to by Trustor Borrower or any related party (or any affiliate or agent of Trustor Borrower or any related party) and that Trustor Borrower made written disclosure of the release to Beneficiary Lender or that Beneficiary Lender otherwise obtained actual knowledge thereof prior to the making of the loan evidenced by the Financing AgreementNote. Notwithstanding anything to the contrary contained in this Deed of Trust, the Financing Agreement Trust or the other Loan Documents, Trustor Borrower shall be fully and personally liable for all judgments and awards entered against Trustor Borrower pursuant to California Code of Civil Procedure 726.5 and such liability shall be an exception to any non-recourse or exculpatory provision in this Deed of Trust or the other Loan Documents, if any, Documents and shall not be limited to the original principal amount of the obligations secured by this Deed of Trust. Trustor's obligations hereunder shall survive To the foreclosurefullest extent permitted by applicable law, deed in lieu of foreclosure, release, reconveyance or any other transfer of the Trust Property constituting real property or this Deed of Trust. For for the purpose of any action brought under this Section, Trustor Borrower hereby waives the defense of laches and any applicable statute of limitations. For To the fullest extent permitted by applicable law, for purposes of California Code of Civil Procedure 726.5, the acts, knowledge and notice of each "“726.5 Party" ” shall be attributed to and be deemed to have been performed by the party or parties then obligated on and liable for payment of the ObligationsNote. As used herein, "“726.5 Party" ” shall mean TrustorBorrower or, any successor owner to Trustor of if Borrower transfers all or any portion of the Trust Property constituting real propertyMortgaged Property, such successor owner to Borrower with respect to all or such portion of the Mortgaged Property, any related party of Trustor Borrower or any such successor and any affiliate or agent of TrustorBorrower, any such successor or any such related party.

Waiver of Lien. In accordance with California Code of Civil Procedure Section 726.5, Beneficiary may waive its lien against the Trust Property constituting real property or any portion thereof, together with fixtures or personal property constituting real property thereon, to the extent such Trust Property constituting real property is found to be environmentally impaired, and may exercise any and all rights and remedies of an unsecured creditor against Trustor and all of Trustor's assets and Trust Property constituting real property for the recovery of any deficiency, including without limitation seeking an attachment order under California Code of Civil Procedure Section 483.010. No such waiver shall be final or binding on Beneficiary unless and until a final money judgment is obtained against Trustor. As between Beneficiary and Trustor, for purposes of California Code of Civil Procedure Section 726.5, Trustor shall have the burden of proving that the release or threatened release was not knowingly or negligently caused or contributed to, or knowingly or willfully permitted or acquiesced to by Trustor or any related party (or any affiliate or agent of Trustor or any related party) and that Trustor made written disclosure of the release to Beneficiary or that Beneficiary otherwise obtained actual knowledge thereof prior to the making of the loan evidenced by the Financing Credit Agreement. Notwithstanding anything to the contrary contained in this Deed of Trust, the Financing Credit Agreement or the other Loan Documents, Trustor shall be fully and personally liable for all judgments and awards entered against Trustor pursuant to California Code of Civil Procedure 726.5 and such liability shall be an exception to any non-recourse or exculpatory provision in this Deed of Trust or the other Loan Documents, if any, and shall not be limited to the original principal amount of the obligations secured by this Deed of Trust. Trustor's obligations hereunder shall survive the foreclosure, deed in lieu of foreclosure, release, reconveyance or any other transfer of the Trust Property constituting real property or this Deed of Trust. For the purpose of any action brought under this Section, Trustor hereby waives the defense of laches and any applicable statute of limitations. For purposes of California Code of Civil Procedure 726.5, the acts, knowledge and notice of each "726.5 Party" shall be attributed to and be deemed to have been performed by the party or parties then obligated on and liable for payment of the Obligations. As used herein, "726.5 Party" shall mean Trustor, any successor owner to Trustor of all or any portion of the Trust Property constituting real property, any related party of Trustor or any such successor and any affiliate or agent of Trustor, any such successor or any such related party.

Waiver of Lien. In accordance with California Code of Civil -------------- Procedure Section 726.5, Beneficiary Lender may waive its lien against the Trust Property constituting real property or any portion thereof, together with fixtures or personal property constituting real property thereon, to the extent such Trust Property constituting real property is found to be environmentally impaired, and may exercise any and all rights and remedies of an unsecured creditor against Trustor Borrower and all of TrustorBorrower's assets and Trust Property constituting real property for the recovery of any deficiency, including including, without limitation limitation, seeking an attachment order under California Code of Civil Procedure Section 483.010. No such waiver shall be final or binding on Beneficiary Lender unless and until a final money judgment is obtained against TrustorBorrower. As between Beneficiary Lender and TrustorBorrower, for purposes of California Code of Civil Procedure Section 726.5, Trustor Borrower shall have the burden of proving that the release or threatened release was not knowingly or negligently caused or contributed to, or knowingly or willfully permitted or acquiesced to by Trustor Borrower or any related party (or any affiliate or agent of Trustor Borrower or any related party) and that Trustor Borrower made written disclosure of the release to Beneficiary Lender or that Beneficiary Lender otherwise obtained actual knowledge thereof prior to the making of the loan evidenced by the Financing AgreementNote. Notwithstanding anything to the contrary contained in this Deed of Trust, the Financing Agreement Mortgage or the other Loan Documents, Trustor Borrower shall be fully and personally liable for all judgments and awards entered against Trustor Borrower pursuant to California Code of Civil Procedure Section 726.5 and such liability shall be an exception to any non-recourse nonrecourse or exculpatory provision in this Deed of Trust Mortgage or the other Loan Documents, if any, Document and shall not be limited to the original principal amount of the obligations secured by this Deed of TrustMortgage. TrustorBorrower's obligations hereunder shall survive the foreclosure, deed in lieu of foreclosure, release, reconveyance or any other transfer of the Trust Property constituting real property or this Deed of TrustMortgage. For the purpose of any action brought under this Section, Trustor Borrower hereby waives the defense of laches and any applicable statute of limitations. For purposes of California Code of Civil Procedure Section 726.5, the acts, knowledge and notice of each "726.5 Party" shall be attributed to and be deemed to have been performed by the party or parties then obligated on and liable for payment of the ObligationsNote. As used herein, "726.5 Party" shall mean TrustorBorrowerr, any successor owner to Trustor Borrower of all or any portion of the Trust Property constituting real propertyMortgaged Property, any related party of Trustor Borrower or any such successor and any affiliate or agent of TrustorBorrower, any such successor or any such related party.