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An exculpatory clause exempts the mortgagor from personal liability on a mortgage, creating a non-recourse mortgage. Other things being equal, would you expect a lender
- An exculpatory clause exempts the mortgagor from personal liability on a mortgage, creating a non-recourse mortgage. Other things being equal, would you expect a lender to demand a higher or lower interest rate on a mortgage with an exculpatory clause? Why?
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