AGN

Agreement Not to Transfer or Encumber

Sometimes a lender will secure a recorded agreement from a borrower not to sell. Because of possible claim that the agreement is an encumbrance, you must except to this Agreement.

Exception

AGNX01 STG

Exception Not to Transfer or Encumber

The lien or rights, if any, of the instrument recorded __________, given in connection with debt to _____________, which instrument provides that the land cannot be transferred or encumbered until the debt is paid in full.
Comment: Sometimes a lender will secure a recorded agreement not to sell from a borrower, instead of a mortgage. Because of a possible claim that the agreement is an encumbrance, you must except to this Agreement.