Common use of COVENANTOR Clause in Contracts

COVENANTOR. In consideration of the Lender making advances to the Borrower in whole or in part of the monies secured by this Mortgage and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the Covenantor does hereby covenant, promise and agree as principal debtor and not as surety to and with the Lender that the Covenantor shall pay, or cause to be paid, to the Lender the Principal Amount and other monies secured by this Mortgage, together with interest thereon, and shall observe and perform all of the covenants, provisos, conditions, agreements and stipulations in this Mortgage on the part of the Borrower. If there is more than one Covenantor, the covenants herein contained shall be joint and several. The Lender shall not be bound to exhaust its recourse against the Borrower or any other party or other security it may hold before being entitled to payment from the Covenantor of the monies secured by this Mortgage. The Covenantor further covenants and agrees that without giving notice to or obtaining the consent or concurrence of the Covenantor, the Lender may:

COVENANTOR. In consideration of the Lender making advances to the Borrower in whole or in part of the monies secured by this Mortgage and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the Covenantor does hereby covenant, promise and agree as principal debtor and not as surety to and with the Lender that the Covenantor shall pay, or cause to be paid, to the Lender the Principal Amount and other monies secured by this Mortgage, together with interest thereon, Indebtedness and shall observe and perform all of the covenants, provisos, conditions, agreements and stipulations in this Mortgage with respect to the Indebtedness on the part of the Borrower, whether contained in this Mortgage or otherwise. If there is more than one Covenantor, the covenants herein contained shall be joint and several. The Lender shall not be bound to exhaust its recourse against the Borrower or any other party or other security it may hold before being entitled to payment from the Covenantor of the monies secured by this Mortgage. The Covenantor further covenants and agrees that without giving notice to or obtaining the consent or concurrence of the Covenantor, the Lender may: