Existing Mortgage. You agree that no advance has been made, or obligation created, after it was agreed that the mortgage would be given, that is secured by an encumbrance that is either prior to the mortgage or has the same priority as the mortgage. You agree that no such advance will be made or obligation created. For example, you have not borrowed again, or drawn on a line of credit, under a prior mortgage, and will not do so.
Appears in 5 contracts
Samples: Collateral Mortgage, Collateral Mortgage, Collateral Mortgage
