Common use of Partial Release Provisions Clause in Contracts

Partial Release Provisions. Notwithstanding anything contained herein or in any of the other Loan Documents to the contrary, the Owner shall have the right to obtain a release of individual Lots and Parcels from the lien of the Deed of Trust in connection with a conveyance of the same to NVR pursuant to the terms of the NVR Purchase Contracts or to another third-party purchaser under a contract of sale approved by the Lender in accordance with the terms set forth in Exhibit B attached hereto and made a part hereof.

Appears in 2 contracts

Sources: Loan Agreement (LiquidValue Development Inc.), Loan Agreement (HF Enterprises Inc.)