Common use of Borrower Not Released Clause in Contracts

Borrower Not Released. Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Xxxxxx to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Xxxxxxxx’s successors in interest. Lender shall not be required commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower or Xxxxxxxx’s successors in interest. Any forbearance by Xxxxxx in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.

Borrower Not Released. Forbearance By by Lender Not a Waiver. Extension of the time for payment or modification of or amortization of the sums secured by this Mortgage granted by Xxxxxx Lender to any successor in interest of Borrower shall not operate to release release, in any manner, the liability of the original Borrower or Xxxxxxxx’s and Borrower's successors in interest. Lender shall not be required to commence proceedings against any such successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower or Xxxxxxxx’s and Borrower's successors in interest. Any forbearance by Xxxxxx Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.

Borrower Not Released. Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Xxxxxx Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or XxxxxxxxBorrower’s successors in interest. Lender shall not be required commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower or XxxxxxxxBorrower’s successors in interest. Any forbearance by Xxxxxx Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.