Common use of Assumability Clause in Contracts

Assumability. (a) So long as (i) Borrower is not in default under any of the terms of the Note, this Instrument or any other Loan Document, and (ii) no situation exists which with the passage of time or the giving of notice or both would constitute a default under the Note, this Instrument or any other Loan Document, in the event Borrower desires to transfer all of the Property to another party (the “Transferee”) and have the Transferee assume all of Borrower’s obligations under the Note, this Instrument and all of the other Loan Documents (collectively, the “Transfer and Assumption”), Borrower, subject to the terms of this paragraph, may make a written application to Lender for Lender’s consent to the Transfer and Assumption, subject to the conditions set forth in subparagraph (b) of this paragraph 35. Together with such written application (and afterwards if requested by Lender), Borrower will submit to Lender true, correct and complete copies of any and all information and documents of any kind requested by Lender concerning the Property, Transferee and/or Borrower, together with any review fee required by Lender, in Lender’s sole discretion.

Assumability. (a) So long as (i) Borrower is not in default under any of the terms of the Note, this Instrument or any other Loan Document, and (ii) no situation exists which with the passage of time or the giving of notice or both would constitute a default under the Note, this Instrument or any other Loan Document, in the event Borrower desires to transfer all of the Property to another party (the “"Transferee”") and have the Transferee assume all of Borrower’s 's obligations under the Note, this Instrument and all of the other Loan Documents (collectively, the “"Transfer and Assumption”"), Borrower, subject to the terms of this paragraph, may make a written application to Lender for Lender’s 's consent to the Transfer and Assumption, subject to the conditions set forth in subparagraph SUBPARAGRAPH (bB) of this paragraph PARAGRAPH 35. Together with such written application (and afterwards if requested by Lender), Borrower will submit to Lender true, correct and complete copies of any and all information and documents of any kind requested by Lender concerning the Property, Transferee and/or Borrower, together with any review fee required by Lender, in Lender’s 's sole discretion.

Assumability. (a) So long as (i) Borrower is not in default under any of the terms of the Note, this Instrument or any other Loan Document, and (ii) no situation exists which with the passage of time or the giving of notice or both would constitute a default under the Note, this Instrument or any other Loan Document, in the event Borrower desires to transfer all of the Property to another party (the “"Transferee”") and have the Transferee assume all of Borrower’s 's obligations under the Note, this Instrument and all of the other Loan Documents (collectively, the “"Transfer and Assumption”"), Borrower, subject to the terms of this paragraph, may make a written application to Lender for Lender’s 's consent to the Transfer and Assumption, subject to the conditions set forth in subparagraph (b) of this paragraph 35. Together with such written application (and afterwards if requested by Lender), Borrower will submit to Lender true, correct and complete copies of any and all information and documents of any kind requested by Lender concerning the Property, Transferee and/or Borrower, together with any review fee required by Lender, in Lender’s 's sole discretion.

Assumability. (a) So long as (i) Borrower is not in default under any of the terms of the Note, this Instrument or any other Loan Document, and (ii) no situation exists which with the passage of time or the giving of notice or both would constitute a default under the Note, this Instrument or any other Loan Document, in the event Borrower desires to transfer all of the Property to another party (the “"Transferee”") and have the Transferee assume all of Borrower’s 's obligations under the Note, this Instrument instrument and all of the other Loan Documents (collectively, the “"Transfer and Assumption”"), Borrower, subject to the terms of this paragraph, may make a written application to Lender for Lender’s 's consent to the Transfer and Assumption, subject to the conditions set forth in subparagraph (b) of this paragraph 35. Together with such written application (and afterwards if requested by Lender), Borrower will submit to Lender true, correct and complete copies of any and all information and documents of any kind requested by Lender concerning the Property, Transferee and/or Borrower, together with any a review fee required by Lender, Lender in Lender’s sole discretionthe amount of one thousand five hundred and 00/100 ($1,500.00) (the "Review Fee").