Common use of Release of and Resort to Collateral Clause in Contracts

Release of and Resort to Collateral. Mortgagee may release, regardless of consideration, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien or security interest created in or evidenced by this Mortgage or its stature as a Lien and security interest in and to the Mortgaged Property, and without in any way releasing or diminishing the liability of any Person liable for the payment or performance of the Senior Secured Note Obligations. Mortgagee may resort to any other security for the Senior Secured Note Obligations held by Mortgagee in such manner and order as Mortgagee may elect.

Release of and Resort to Collateral. Mortgagee may release, regardless of consideration, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien and security interest in and to the Mortgaged Property, and without in any way releasing or diminishing the liability of any Person liable for the payment or performance of the Senior Secured Note Obligations. Mortgagee may resort to any other security for the Senior Secured Note Obligations held by Mortgagee in such manner and order as Mortgagee may elect.