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201201587
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Last modified
3/7/2012 11:28:17 AM
Creation date
2/29/2012 1:15:03 PM
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DEEDS
Inst Number
201201587
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MOLMFR56CE5o6S2�3 <br /> • � �a��a�JO� <br /> As an express inducement to Lender's agreement to this Agreement, Borrower, jointly <br /> and severaily, hereby unconditionally releases Lender, its legal representatives, <br /> affiliates, subsidiaries, parent companies, agents, officers, employees, attorneys, <br /> successors and assigns (collectively the "Released Parties") from any and all claims, <br /> demands, actions, damages and causes of actions which Borrower has asserted or <br /> claimed or might now or hereafter assert or claim against all or any of the Released <br /> Parties, whether known or unknown, arising out of, related to or in any way connected <br /> with or based upon any Prior Related Event (as such term is hereinafter defined). As <br /> used herein, the term "Prior Related EvenY' shall mean any act, omission, circumstance, <br /> agreement, loan, extension of credit, transaction, transfer, payment, event, action or <br /> occurrence between or involving Borrower or Borrower's property and all or any of the <br /> Released Parties and which was made or extended or which occurred at any time or <br /> times prior to the execution of this Agreement, including without limiting in any respect <br /> the generality of the foregoing: (i) any action taken to obtain payment of any <br /> indebtedness or to otherwise enforce or exercise any right or purported right of Lender <br /> as a creditor of Borrower; and (ii) any payment or other transfer made to Lender 6y or for <br /> the account of Borrower. Borrower agrees and acknowledges that this release is not to <br /> be construed as or deemed an acknowledgement or admission on the part of any of the <br /> Released Parties of liability for any matter or as precedent upon which liability may be <br /> asserted. <br /> 12. Bankruutcv: <br /> If, since inception of this loan through date of this Agreement, the Borrower has received <br /> a discharge in a Chapter 7 bankruptcy and there has been no valid reaffirmation of the <br /> underlying debt, the Lender is not attempting to re-establish any personal liability for the <br /> underlying debt by entering into this Agreement. However, the parties acknowledge that <br /> the Lender retains certain rights, including but not limited to the right to foreclose its <br /> interest in the property under appropriate circumstances. The parties agree that the <br /> consideration for this Agreement is the Lender's forbearance from presently exercising <br /> its right and pursuing its remedies under the Security Instrument as a result of the <br /> Borrower's default of its o6ligations thereunder. <br /> 13. Loan Documents Remain In Full Force and Effect: <br /> As amended herein, the provisions of the Loan Documents shall continue in full force <br /> and effect, and Borrower acknowledges and reaffirms Borrower's liability to Lender <br /> thereunder. In the event of any inconsistency between this Agreement and the terms of <br /> the Loan Documents, this Agreement shall govern. Nothing in this Agreement shall be <br /> understood or construed to be a novation, satisfaction or release, in whole or in part, of <br /> the Loan Documents. Except as otherwise specifically provided in this Agreement, the <br /> Loan Documents will remain unchanged, and Borrower and Lender will be bound by and <br /> comply with all of the terms and provisions thereof, except as amended by this <br /> Agreement. <br /> 14. Execution of Additional Documentation: <br /> Page 5 of the Loan Modification Agreement Borrower Initial Lines <br /> Order Number:6981466 <br /> `Please add the appropriate number of initial lines for each signatory over 4 <br /> M� M <br />
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