Construction Mortgage. This Mortgage secures indebtedness incurred by Mortgagor in connection with the construction of improvements on the Mortgaged Property. Accordingly, this Mortgage constitutes a “construction mortgage” under applicable provisions of the Uniform Commercial Code.
Construction Mortgage. This Mortgage is intended to be a Construction Mortgage within the meaning of 13 Pa. C.S.A. § 2A309(a). [The remainder of this page has been intentionally left blank]
Construction Mortgage. This Mortgage is a Construction Mortgage within the meaning of SDCL Section 547A-9-334(h), and secures an obligation incurred for the construction of improvements on land, including acquisition cost of the land. Some of the above-described collateral is or is to become fixtures upon the above-described real estate, and this Fixture Filing is to be filed for record in the public real estate records.
Construction Mortgage. This Shore Mortgage secures in part an obligation incurred for the construction of Improvements on the Real Property and constitutes a "construction mortgage" within the meaning of Section 9-313 of the Code.
Construction Mortgage. This Mortgage is a construction mortgage and it secures obligations incurred to finance the construction of improvements on the Property, including certain costs incurred in planning, architectural and engineering studies, zoning and similar expenses. It is understood and agreed that funds to be advanced evidenced by the Loan (West Lafayette) Note are to be used in the construction of improvements on the Property in accordance with the Loan Agreement.
Construction Mortgage. If funds are to be advanced by Mortgagee against the Note as construction progresses on the Real Property, then this is a construction mortgage, as such term is defined in the Texas Business and Commerce Code, and such funds are to be used to pay the costs of such construction, which may with the express prior written consent of Mortgagee include the acquisition costs of the Real Property.
Construction Mortgage. This Mortgage is also a “construction mortgage” as that term is defined in the version of Uniform Commercial Code enacted in the State.
Construction Mortgage. This Security Instrument secures unpaid 156 balances of obligatory loan advances to be made by Xxxxxx to Borrower pursuant to the 157 terms and provision of the Building Loan Agreement, the terms and provisions of which 158 are incorporated herein as if fully rewritten. Said Building Loan Agreement obligates 159 Lender to advance to Borrower certain sums under definite and certain conditions, in a 160 particular manner and at the times set forth therein, the total outstanding principal 161 indebtedness of which, at any one time, is not to exceed 162 and 00/100 Dollars ($ ). The Building 163 Loan Agreement may be inspected by interested persons at the offices of the Lender. 164 This Security Instrument secures an obligation incurred for the construction of 165 improvements to the Mortgaged Property and, as such, is a "construction mortgage" as 166 said term is used and defined under Article 9 of the Uniform Commercial Code. 167 168 THE SECURITY INSTRUMENT SHALL BE PREPARED TO CONFORM TO THE 169 REQUIREMENTS OF THE LOCAL FILING JURISDICTION IN WHICH THE
Construction Mortgage. This Security Instrument is intended to be a Construction Mortgage within the meaning of 13 Pa. C.S.A. ss. 9313(a).
Construction Mortgage. This Mortgage is a construction mortgage (as that term is defined in Section 9.313(a) (3) of the Texas Business and Commerce Code) in that it secures an obligation incurred for the construction of an improvement on land including the acquisition cost of the land. It is understood and agreed that funds to be advanced upon the Note are to be used in the construction of certain improvements on the land herein described in accordance with the Loan Agreement.
