Common use of Amended Clause in Contracts

Amended. Section 2.02 of the Mortgage is hereby amended by adding the following new paragraph to the Form of Note contained in such Section: "Anything in this Note, the Mortgage or elsewhere to the contrary notwithstanding, Seagull shall not be personally liable for the payment of the principal of, premium (if any) or interest on this Note, it being expressly understood and agreed that the sole recourse of the holder of this Note for the payment hereof shall be against the Mortgaged Property and that no recourse (whether under rule of law, statute or constitution or by the enforcement of any assessment or penalty or otherwise) shall be had against Seagull or any other Person for the payment of the principal of, premium (if any) or interest on this Note or for any claim based hereon or otherwise in respect hereof; provided, however, that nothing in this paragraph shall (i) affect the validity of the indebtedness evidenced by this Note or the rights of any holder of this Note to proceed against the Mortgaged Property in accordance with the Mortgage, (ii) constitute a waiver of any indebtedness or obligation evidenced by this Note (but the same shall continue until paid or discharged), (iii) limit or otherwise prejudice in any way the right of any holder of this Note to name Seagull or any owner, holder or transferee of any interest in the Mortgaged Property as a party defendant in any action or suit for judicial foreclosure of, or in the exercise of any other remedy available to such holder with respect to, the Mortgaged Property so long as no judgment in the nature of a deficiency or seeking personally liability shall be asked of or (if obtained) enforced against Seagull."

Amended. Section 2.02 3.02 of the Mortgage is hereby amended by adding replacing the second paragraph thereof with the following new paragraph to the Form of Note contained in such Sectionparagraph: "Anything in this NoteMortgage, the Mortgage Notes or elsewhere to the contrary notwithstanding, Seagull the Company shall not be personally liable for the payment of the principal of, premium (if any) or interest on this Notethe Notes (whether Replacement Notes or otherwise), it being expressly understood and agreed that the sole recourse of the holder holders of this Note the Notes for the payment hereof thereof shall be against the Mortgaged Property and that no recourse (whether under rule of law, statute or constitution or by the enforcement of any assessment or penalty or otherwise) shall be had against Seagull the Company or any other Person for the payment of the principal of, premium (if any) or interest on this Note the Notes or for any claim based hereon or otherwise in respect hereofthereof; provided, however, that nothing in this paragraph shall (i) affect the validity of the indebtedness evidenced by this Note the Notes or the rights of any holder of this a Note to proceed against the Mortgaged Property in accordance with the this Mortgage, (ii) constitute a waiver of any indebtedness or obligation evidenced by this Note the Notes (but the same shall continue until paid or discharged), (iii) limit or otherwise prejudice in any way the right of any holder of this a Note to name Seagull the Company or any owner, holder or transferee of any interest in the Mortgaged Property as a party defendant in any action or suit for judicial foreclosure of, or in the exercise of any other remedy available to such holder with respect to, the Mortgaged Property so long as no judgment in the nature of a deficiency or seeking personally liability shall be asked of or (if obtained) enforced against Seagullthe Company."