Examples of Assumed Loan Documents in a sentence
New Borrower and Xxxxxx agree that the provisions of the Assumed Loan Documents are modified as set forth in Exhibit C to this Agreement.
New Borrower covenants, promises, and agrees that New Borrower, jointly and severally if more than one, will unconditionally assume and be bound by all terms, provisions, and covenants of the Assumed Loan Documents as if New Borrower had been the original maker of the Assumed Loan Documents.
The failure of New Borrower to comply with the additional obligations contained in this Section will constitute an Event of Default under the Security Instrument, and Lender will be entitled to exercise all remedies available to it under the terms of the Assumed Loan Documents.
New Borrower will pay all sums to be paid and perform each and every obligation to be performed by Original Borrower under and in accordance with the terms and conditions of the Assumed Loan Documents.
Notwithstanding the foregoing, Noteholder agrees and acknowledges that any breach by Borrower or Original Guarantor of any of the representations, warranties or covenants of the Original Loan Documents or this Assumption Agreement that are personal to Borrower or Original Guarantor (such as maintaining existence and bankruptcy) shall not in and of itself constitute a default by Assumptor under the Assumed Loan Documents.