Common use of Legal powers Clause in Contracts

Legal powers. Where a power that the mortgage gives us goes beyond what is permitted by a law that applies despite what you and we have agreed to, we have the power as far as that law permits, or the power is subject to our complying with that law. Subject to such a law, we can exercise any power under the mortgage without giving any notice or taking any other step.

Legal powers. Where a power that the mortgage gives to us goes beyond what is permitted by a law that applies despite what you and we have agreed to, we have the power as far as that law permits, or the power is subject to our complying with that law. Subject to such a law, we can exercise any power under the mortgage without giving any notice or taking any other step.