The provision on a non-recourse promissory note that renders the borrower personally liable to the lender in the possibility that the borrower negatively impacts the property. The negative impacts are typically defined in the carveout, usually relating to malfeasance or gross negligence of the property. Carveout's typically state the legal recourse that would occur in order for a lender to recover the amount of unpaid tax liens accrued on the property from the borrower personally.