ANY ACT OR FAILURE TO ACT ON THE PART OF
BORROWER OR LENDER, BUT ONLY BY AN AGREEMENT IN WRITING SIGNED BY THE PARTY
AGAINST WHOM ENFORCEMENT OF ANY MODIFICATION, AMENDMENT, WAIVER, EXTENSION,
CHANGE, DISCHARGE OR TERMINATION IS SOUGHT.
30
SECTION 15.2.
SUCCESSORS AND ASSIGNS. THIS MORTGAGE
SHALL BE BINDING UPON AND INURE TO THE BENEFIT OF BORROWER AND LENDER AND THEIR
RESPECTIVE SUCCESSORS AND ASSIGNS FOREVER.
SECTION 15.3.
INAPPLICABLE PROVISIONS. IF ANY TERM,
COVENANT OR CONDITION OF THE LOAN AGREEMENT, THE NOTE OR THIS MORTGAGE IS HELD
TO BE INVALID, ILLEGAL OR UNENFORCEABLE IN ANY RESPECT, THE LOAN AGREEMENT, THE
NOTE AND THIS MORTGAGE SHALL BE CONSTRUED WITHOUT SUCH PROVISION.
SECTION 15.4.
HEADINGS, ETC. THE HEADINGS AND
CAPTIONS OF VARIOUS SECTIONS OF THIS MORTGAGE ARE FOR CONVENIENCE OF REFERENCE
ONLY AND ARE NOT TO BE CONSTRUED AS DEFINING OR LIMITING, IN ANY WAY, THE SCOPE
OR INTENT OF THE PROVISIONS HEREOF.
SECTION 15.5.
NUMBER AND GENDER. WHENEVER THE
CONTEXT MAY REQUIRE, ANY PRONOUNS USED HEREIN SHALL INCLUDE THE CORRESPONDING
MASCULINE, FEMININE OR NEUTER FORMS, AND THE SINGULAR FORM OF NOUNS AND PRONOUNS
SHALL INCLUDE THE PLURAL AND VICE VERSA.
SECTION 15.6.
SUBROGATION. IF ANY OR ALL OF THE
PROCEEDS OF THE NOTE HAVE BEEN USED TO EXTINGUISH, EXTEND OR RENEW ANY
INDEBTEDNESS HERETOFORE EXISTING AGAINST THE PROPERTY, THEN, TO THE EXTENT OF
THE FUNDS SO USED, LENDER SHALL BE SUBROGATED TO ALL OF THE RIGHTS, CLAIMS,
LIENS, TITLES, AND INTERESTS EXISTING AGAINST THE PROPERTY HERETOFORE HELD BY,
OR IN FAVOR OF, THE HOLDER OF SUCH INDEBTEDNESS AND SUCH FORMER RIGHTS, CLAIMS,
LIENS, TITLES, AND INTERESTS, IF ANY, ARE NOT WAIVED BUT RATHER ARE CONTINUED IN
FULL FORCE AND EFFECT IN FAVOR OF LENDER AND ARE MERGED WITH THE LIEN AND
SECURITY INTEREST CREATED HEREIN AS CUMULATIVE SECURITY FOR THE REPAYMENT OF THE
DEBT, THE PERFORMANCE AND DISCHARGE OF BORROWER'S OBLIGATIONS HEREUNDER, UNDER
THE LOAN AGREEMENT, THE NOTE AND THE OTHER LOAN DOCUMENTS AND THE PERFORMANCE
AND DISCHARGE OF THE OTHER OBLIGATIONS.
SECTION 15.7.
ENTIRE AGREEMENT. THE NOTE, THE LOAN
AGREEMENT, THIS MORTGAGE AND THE OTHER LOAN DOCUMENTS CONSTITUTE THE ENTIRE
UNDERSTANDING AND AGREEMENT BETWEEN BORROWER AND LENDER WITH RESPECT TO THE
TRANSACTIONS ARISING IN CONNECTION WITH THE DEBT AND SUPERSEDE ALL PRIOR WRITTEN
OR ORAL UNDERSTANDINGS AND AGREEMENTS BETWEEN BORROWER AND LENDER WITH RESPECT
THERETO. BORROWER HEREBY ACKNOWLEDGES THAT, EXCEPT AS INCORPORATED IN WRITING IN
THE NOTE, THE LOAN AGREEMENT, THIS MORTGAGE AND THE OTHER LOAN DOCUMENTS, THERE
ARE NOT, AND WERE NOT, AND NO PERSONS ARE OR WERE AUTHORIZED BY LENDER TO MAKE,
ANY REPRESENTATIONS, UNDERSTANDINGS, STIPULATIONS, AGREEMENTS OR PROMISES, ORAL
OR WRITTEN, WITH RESPECT TO THE TRANSACTION WHICH IS THE SUBJECT OF THE NOTE,
THE LOAN AGREEMENT, THIS MORTGAGE AND THE OTHER LOAN DOCUMENTS.
SECTION 15.8.
LIMITATION ON LENDER'S RESPONSIBILITY.
NO PROVISION OF THIS MORTGAGE SHALL OPERATE TO PLACE ANY OBLIGATION OR LIABILITY
FOR THE CONTROL, CARE, MANAGEMENT OR REPAIR OF THE PROPERTY UPON LENDER, NOR
SHALL IT OPERATE TO MAKE LENDER RESPONSIBLE OR LIABLE FOR