ENCUMBRANCES AND LIENS. Except with written consent of all Co-Owners, no Co-Owner shall mortgage, pledge, or otherwise encumber her or its interest in the Property or permit any lien (other than a lien for property taxes and assessments that are due and payable but not delinquent) to attach to the Property or such Co-Owner’s interest in the Property. For purposes of this Agreement, a lien includes a mechanics lien. If any lien shall at any time so attach, the Co-Owner responsible therefor shall cause the lien to be discharged within thirty (30) days after notice of the filing thereof at her or its sole expense.
Appears in 2 contracts
Sources: Tenancy in Common Agreement, Tenancy in Common Agreement (Digital Power Corp)