No Personal Liability. If this Lease is executed in a representative or fiduciary capacity only the entity thereby represented shall be bound and no trustee, beneficiary, officer, member, manager, shareholder, director or their representatives, employees or agents shall be personally liable for any obligation under this Lease, express or implied except to the extent of such party(ies) own acts or omissions that independently constitute a tort, such as fraud.

No Personal Liability. None of the officers, directors, employees, or agents of Seller or Buyer shall be personally or individually liable, in any manner whatsoever, for any debt, act, omission, or obligation of Seller or Buyer, respectfully.

The liability of Landlord to Tenant for any default by Landlord under the terms of this Lease shall be limited to the interest of Landlord in the Building and the Property, and Landlord shall not be personally liable for any deficiency. This clause shall not be deemed to limit or deny any remedies which Tenant may have in the event of default by Landlord under this Lease which does not involve the personal liability of Landlord.

Personal Liability. No member of the Board, or of any committee of the Association, or any officer or manager of the Association shall be personally liable to any Owner, or to any other party, including the Association, for any damage, loss or prejudice suffered or claimed on account of any act, omission, error or negligence of any such Person.

No Personal Liability. The Indemnitee agrees that neither the directors nor any officer, employee, representative or agent of the Company shall be personally liable for the satisfaction of the Company’s obligations under this Agreement, and the Indemnitee shall look solely to the assets of the Company for satisfaction of any claims hereunder.

No Personal Liability. In no event shall any mortgagee of the Property, or any part thereof, its nominee, or the purchaser at a foreclosure sale have any personal liability whatsoever for any representations, warranties, covenants or agreements of Landlord hereunder or in connection herewith, or any liability for any security deposit or other sums deposited with Landlord, or for any previous prepayment of Rent to Landlord.

There will be no personal liability on the part of Landlord, its constituent members (including officers, directors, partners, members and trustees) and their respective successors and assigns or any mortgagee in possession, with respect to any of the terms, covenants and conditions of this Lease, and Tenant will look solely to the equity of Landlord in the Building for the satisfaction of each and every remedy of Tenant in the event of any breach by Landlord of any of the terms of this Lease to be performed by Landlord, such exculpation of liability to be absolute and without any exceptions whatsoever.

No Personal Liability. Notwithstanding anything stated to the contrary herein, # each Seller’s liability under this Agreement shall be limited to such Seller’s respective interest in the Property owned thereby and the proceeds thereof, and # except as expressly provided in the Joinder attached to this Agreement, under no circumstances shall any Seller’s direct or indirect owners, members, partners, constituent partners, affiliates, any Seller’s asset manager, nor any Seller’s employees or agents have any personal liability hereunder.

No Personal Liability. Notwithstanding anything to the contrary contained herein, it is expressly understood and the Purchasers expressly agree that nothing contained herein or in any other document contemplated hereby (whether from a covenant, representation, warranty or other provision herein or therein) shall create, or be construed as creating, any personal liability of any stockholder, director, officer, member, partner, manager or employee of Hovnanian, the Issuer and their respective subsidiaries (excluding any such person which is a Guarantor or other express obligor on the Additional 10.5% Notes) in such person’s capacity as such, with respect to # any payment obligation of Hovnanian, the Issuer or any of their subsidiaries, # any obligation of Hovnanian, the Issuer or any of their respective subsidiaries to perform any covenant, undertaking, indemnification or agreement, either express or implied, contained herein, # any representation or warranty contained herein, # any other claim or liability to the Purchasers under or arising under this Agreement or in any other document contemplated hereby, or # any credit extended or loan made; provided that nothing herein shall be deemed to be a waiver of claims arising from fraud.

No Personal Liability. Nothing contained in this Agreement shall be construed to create or impose any liabilities or obligations and no such liabilities or obligations shall be imposed on any of the shareholders, beneficial owners, direct or indirect, officers, directors, trustees, employees or agents of Seller or Purchaser or their respective Affiliates for the payment or performance of the obligations or liabilities of Seller or Purchaser provided, however, that the foregoing shall not limit Guarantor’s obligations under the Guaranty.