106.390 - Effect of notice of termination.
106.390 Effect of notice of termination. Receipt of notice of termination by the lender does not affect the priority of any lien for any future advances previously made, obligations previously incurred or interest accrued thereon.
(Added to NRS by 1985, 726)
NRS 106.400 Advances made after notice of termination. Future advances of principal made to a borrower after the receipt of the notice of termination by the lender are not secured by the instrument. The principal amount of indebtedness secured by the instrument is limited to the amount stated by the lender in the lender’s recorded statement.
(Added to NRS by 1985, 726; A 1989, 493)