Common use of CLT IS REQUIRED TO PERMIT A Clause in Contracts

CLT IS REQUIRED TO PERMIT A. “STANDARD PERMITTED MORTGAGE. The CLT shall be required to permit any mortgage for which the mortgagee has signed a “Standard Permitted Mortgage Agreement” as set forth in “Exhibit E: Permitted Mortgages, Part C,” and for which the loan secured thereby does not increase Homeowner’s total mortgage debt to an amount greater than 100% of the then current Maximum Resale Price, calculated in accordance with Article 10 below.

CLT IS REQUIRED TO PERMIT A. “STANDARD PERMITTED MORTGAGEStandard Permitted Mortgage”. The CLT shall be required to permit any mortgage for which the mortgagee has signed a “Standard Permitted Mortgage Agreement” as set forth in “Exhibit E: Permitted MortgagesMortgage, Part C,” attached to the Lease, and for which the loan secured thereby does not increase HomeownerLessee’s total mortgage debt to an amount greater than 100% of the then current Maximum Resale Price, calculated in accordance with Article 10 belowof the Lease.