Common use of Lender Not Responsible Clause in Contracts

Lender Not Responsible. Nothing done by the Receiver under this section 12 will make the Lender a mortgagee in possession, and the Borrower hereby releases and discharges the Lender and every Receiver from every claim of every nature, whether sounding in damages for negligence or trespass or otherwise, which may arise or be caused to the Borrower or any Person claiming through or under it by reason or as a result of anything done by the Lender or any Receiver under the provisions of this section 12. The Borrower agrees to ratify and confirm all actions of any Receiver taken or made pursuant to this provision and agrees that neither the Receiver nor the Lender will be liable for any loss sustained by the Borrower or any other Person resulting from any such action or failure to act.