Davidson v. Baier Corp.

Deen, Chief Judge.

In March, 1973, the appellant purchased from the appellee’s assignor a certain tract of land for which he executed a note and deed to secure debt for the balance of the purchase price, subject to four prior deeds to secure debt to the property. Both the note and the loan deed contained the following clause: "[T]he undersigned shall have no obligation or liability for the payment of this note beyond the undersigned’s interest in the real property described in the deed to secure debt... holder agrees that in the event of a default hereunder holder will rely solely for the…