Common use of Obligations of Borrower And of Persons Taking Over Borrower’s Rights or Obligations Clause in Contracts

Obligations of Borrower And of Persons Taking Over Borrower’s Rights or Obligations. If more than one Person signs this Security Instrument as Borrower, each of us is fully obligated to keep all of Borrower’s promises and obligations contained in this Security Instrument. Lender may enforce Xxxxxx’s rights under this Security Instrument against each of us individually or against all of us together. This means that any one of us may be required to pay all of the Sums Secured. However, if one of us does not sign the Note: (a) that Person is signing this Security Instrument only to give that Person’s rights in the Property to Lender under the terms of this Security Instrument; (b) that Person is not personally obligated to pay the Sums Secured; and (c) that Person agrees that Xxxxxx may agree with the other Borrowers to delay enforcing any of Lender’s rights, to modify, or make any accommodations with regard to the terms of this Security Instrument or the Note without that Person’s consent. Subject to the provisions of Section 18 of this Security Instrument, any Person who takes over my rights or obligations under this Security Instrument in writing, and is approved by Xxxxxx in writing, will have all of my rights and will be obligated to keep all of my promises and agreements made in this Security Instrument. Borrower will not be released from Borrower’s obligations and liabilities under this Security Instrument unless Xxxxxx agrees to such release in writing. Any Person who takes over Xxxxxx’s rights or obligations under this Security Instrument will have all of Lender’s rights and will be obligated to keep all of Lender’s promises and agreements made in this Security Instrument except as provided under Section 20.

Obligations of Borrower And of Persons Taking Over Borrower’s Rights or Obligations. If more than one Person signs this Security Instrument as Borrower, each of us is fully obligated to keep all of Borrower’s promises and obligations contained in this Security Instrument. Lender may enforce Xxxxxx’s rights under this Security Instrument against each of us individually or against all of us together. This means that any one of us may be required to pay all of the Sums Secured. However, if one of us does not sign the Note, that Person: (a) that Person is signing signs this Security Instrument only to give that Person’s rights in the Property to Lender under the terms of this Security Instrument; (b) that Person signs this Security Instrument to waive any applicable inchoate rights such as dower and curtesy and any available homestead exemptions; (c) signs this Security Instrument to assign any Miscellaneous Proceeds, Rents, or other earnings from the Property to Lender; (d) is not personally obligated to pay the Sums Secured; and (ce) that Person agrees that Xxxxxx may can agree with the other Borrowers to delay enforcing any of Lender’s rightsrights or to extend, to modify, or make any accommodations with regard to the terms of this Security Instrument or the Note without that Person’s consentconsent and without affecting that Person’s obligations under this Security Instrument. Subject to the provisions of Section 18 of this Security Instrument19, any Person who takes over my rights or obligations under this Security Instrument in writing, and is approved by Xxxxxx in writing, will have all of my rights and will be obligated to keep all of my promises and agreements made in this Security Instrument. Borrower I will not be released from Borrower’s my obligations and liabilities under this Security Instrument unless Xxxxxx agrees to such release in writing. Any Person who takes over Xxxxxx’s rights or obligations under this Security Instrument will have all of Lender’s rights and will be obligated to keep all of Lender’s promises and agreements made in this Security Instrument except as provided under Section 20.

Obligations of Borrower And of Persons Taking Over Borrower’s Rights or Obligations. If more than one Person signs this Security Instrument as Borrower, each of us is fully obligated to keep all of Borrower’s promises and obligations contained in this Security Instrument. Lender may enforce Xxxxxx’s rights under this Security Instrument against each of us individually or against all of us together. This means that any one of us may be required to pay all of the Sums Secured. However, if one of us does not sign the Note, that Person: (a) that Person is signing signs this Security Instrument only to give that Person’s rights in the Property to Lender under the terms of this Security Instrument; (b) that Person signs this Security Instrument to waive any available homestead exemptions; (c) signs this Security Instrument to assign any Miscellaneous Proceeds, Rents, or other earnings from the Property to Lender; (d) is not personally obligated to pay the Sums Secured; and (ce) that Person agrees that Xxxxxx may Lender can agree with the other Borrowers to delay enforcing any of Lender’s rightsrights or to extend, to modify, or make any accommodations with regard to the terms of this Security Instrument or the Note without that Person’s consentconsent and without affecting that Person’s obligations under this Security Instrument. Subject to the provisions of Section 18 of this Security Instrument19, any Person who takes over my rights or obligations under this Security Instrument in writing, and is approved by Xxxxxx in writing, will have all of my rights and will be obligated to keep all of my promises and agreements made in this Security Instrument. Borrower I will not be released from Borrower’s my obligations and liabilities under this Security Instrument unless Xxxxxx agrees to such release in writing. Any Person who takes over Xxxxxx’s rights or obligations under this Security Instrument will have all of Lender’s rights and will be obligated to keep all of Lender’s promises and agreements made in this Security Instrument except as provided under Section 20.

Obligations of Borrower And of Persons Taking Over Borrower’s Rights or Obligations. Except as provided in Section 18, any Successor in Interest of Borrower who takes over my rights or obligations under this Security Instrument in writing and who is approved by Xxxxxx will have all of my rights and will be obligated to keep all of my promises and agreements made in this Security Instrument. I will not be released from my liability under this Security Instrument unless Xxxxxx agrees to that release in writing. Any Person who takes over Xxxxxx’s rights or obligations under this Security Instrument will have all of Lender’s rights and will be obligated to keep all of Lender’s agreements made in this Security Instrument, except as provided in Section 20. If more than one Person signs this Security Instrument as Borrower, each of us is fully obligated to keep all of Borrower’s promises and obligations contained in this Security Instrument. Lender may enforce Xxxxxx’s rights under this Security Instrument against each of us individually or against all of us together. This means that any one of us may be required to pay all of the Sums Secured. However, if one of us does not sign the Note: (a) that Person is signing this Security Instrument only to give that Person’s rights in the Property to Lender under the terms of this Security Instrument; (b) that Person is not personally obligated to pay the Sums Secured; and (c) that Person agrees that Xxxxxx may can agree with the other Borrowers to delay enforcing any of Lender’s rights, rights or to modify, modify or make any accommodations with regard to the terms of this Security Instrument or the Note without that Person’s consent. Subject to the provisions of Section 18 of this Security Instrument, any Person who takes over my rights or obligations under this Security Instrument in writing, and is approved by Xxxxxx in writing, will have all of my rights and will be obligated to keep all of my promises and agreements made in this Security Instrument. Borrower will not be released from Borrower’s obligations and liabilities under this Security Instrument unless Xxxxxx agrees to such release in writing. Any Person who takes over Xxxxxx’s rights or obligations under this Security Instrument will have all of Lender’s rights and will be obligated to keep all of Lender’s promises and agreements made in this Security Instrument except as provided under Section 20.