Mortgagee’s interest. 4.1 The Mortgagee acknowledges and declares that it shall be bound by the Obligations contained in this Agreement, and that the security of the Mortgage over the Site shall take effect subject to this Agreement, provided that the Mortgagee shall otherwise have no liability under this Agreement unless it takes possession of or disposes of any interest in the Site, in which case it or the person acquiring the Site (as the case may be) will be bound by the Obligations in the same way as persons deriving title from the Developer.
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Samples: Section 106 Agreement, www.torridge.gov.uk, www.torridge.gov.uk
