What we're trying to determine is will this lien survive closing where we will be responsible for the debt or will it drop off or be settled from proceeds from closing?

Is that paying down debt? Or

Is “ No Debt” or paid off debt something private investors usually factor in as a criteria to meet in order to do business with ?

Sounds like the equipment is the tenants, if so is there debt or UCC's on it. is so you can make a deal with lender and if you get a new food tenants yo take over payments, if not depending on what lease says and you do.

As usual, @Don Konipol gave solid analysis.Food for thought, non-judicial FC is problematic because debtor is deceased. 

Lots of agents fall behind on dues, let license lapse due to continuing education not being met, owe student loan debt or back child support, etc.

It is worded as such: I, the undersigned_________________________________________________(Name of Debtor) hereby confirm and acknowledge to______________________________________________ (Name of Creditor), hereinafter called Creditor, that I am indebted to said Creditor in the amount of _____________________________________________________($____________ ) dollars as of the date set forth below.

Invest passively in the area of real estate that you like best as a debt or equity partner.

Got a lot of debt or history of not paying?

Either dispute the debt or pay it.