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2017 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 086 - Mortgages; Trust Deeds
Section 86.020 - Covenant to pay money not implied.
Universal Citation: OR Rev Stat § 86.020 (2017)
No mortgage shall be construed as implying a covenant for the payment of the sum thereby secured. When there is no express covenant for such payment contained in the mortgage, and no bond or other separate instrument to secure such payment shall have been given, the remedies of the mortgagee shall be confined to the lands mentioned in the mortgage.
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