First Deed of Trust. Eligible Buyer shall obtain financing in the amount of the Initial Sales Price less the Workforce Housing Discount, less any down-payment made by Eligible Buyer, from a lender acceptable to the City (the “Lender”). The lien created by the deed of trust securing this amount shall be of first priority and recorded prior to the Workforce Housing Deed of Trust. Eligible Buyer shall, within five (5) working days after the date of this Agreement, make diligent and truthful application to the lender and furnish to the City and the lender such information, forms or other materials as may be required by such lender within fifteen (15) working days after the date of this Agreement. If Eligible Buyer has complied with the requirements of this Agreement and for any reason whatsoever is unable to obtain the loan referred to above, either the City or Eligible Buyer shall have the option to terminate this Agreement and the Deposit shall be refunded to Eligible Buyer. In no event shall the City have any obligations or liabilities to Eligible Buyer due to the lender’s refusal to make such loan for any reason whatsoever, except that the City shall cause the deposit to be returned to Eligible Buyer if Eligible Buyer has strictly complied with the terms of the Agreement.
First Deed of Trust. Amended and Restated Deed of Trust, Assignment of Rents and Leases, Security Agreement and Fixture Filing made by Wynn Resorts Holdings, LLC, a Nevada limited liability company, as Trustor, to Nevada Title Company, a Nevada corporation, as Trustee, for the benefit of Deutsche Bank Trust Company Americas, in its capacity as Administrative Agent for the benefit of the Banks, as Beneficiary; and
First Deed of Trust. As security for the portion of the Purchase Price to be held in abeyance during the performance of the Buyer under the Capital Investment Incentive the Job Creation Incentive, and Minimum Hourly Wage Incentive shall be secured by a trust deed during the Qualification Period. Therefore, Xxxxxx shall cause to be recorded a first position deed of trust on the Property. Xxxxx agrees and guarantees that this deed of trust shall have priority as of the date said trust deed is recorded over any and all other encumbrances, notes, debts, or other financial obligations related to the Property, except where prohibited by state or federal law.
First Deed of Trust. Amended and Restated Deed of Trust, Assignment of Rents and Leases, Security Agreement and Fixture Filing made by Palo, LLC, a Delaware limited liability company, as Trustor, to Nevada Title Company, a Nevada corporation, as Trustee, for the benefit of Deutsche Bank Trust Company Americas, in its capacity as Administrative Agent for the benefit of the Banks, as Beneficiary; and
First Deed of Trust. The specifics of the first deed of trust loan and, if applicable, the second deed of trust loan and, if applicable, the second deed of trust are entered here. The Purchaser states whether they are obtaining a new loan or assuming the Seller’s existing loan. The type of loan is also specified. If the Purchaser is assuming the existing loan, the parties will use the check boxes to specify whether there will be a release of liability (FHA) or a substitution of the Seller’s eligibility under a VA loan. In our case the Purchaser has chosen to obtain a conventional thirty-year fixed rate loan. Our Purchaser has a loan with an interest rate of 8% per year. Given the loan amount of $80,000, this equates to a monthly payment of principal and interest of approximately $587.00.
First Deed of Trust. As security for the portion of the Purchase Price to be held in abeyance during the performance of the Buyer under the Capital Investment Incentive and the Job Creation Incentive shall be secured by a trust deed during the Qualification Period. Therefore, Escrow shall cause to be recorded a first position deed of trust on the portion of the Property conceptually described on Exhibit “B” hereof (the “Encumbered Property”). Buyer agrees and guarantees that this deed of trust shall have priority as of the date said trust deed is recorded over any and all other encumbrances, notes, debts, or other financial obligations related to the Encumbered Property, except where prohibited by state or federal law. All other portions of the Property shall remain unencumbered from a First Deed of Trust by the Seller. During Buyer's Due Diligence Period, Buyer will apply for and complete a lot split or splits substantially in the form depicted on Exhibit “B” as said plan may be modified by the Buyer and approved by the Parties from time to time, so that the Encumbered Property identified above will in fact be a separate parcel or parcels. Notwithstanding the foregoing, Buyer shall have received from the Seller a formal decision (approval or denial) regarding a lot split as set forth above within the Due Diligence Period or the Due Diligence Period shall be deemed extended until 15 days after or following a formal approval or denial of the application for such lot split as described above.
First Deed of Trust. As security for the portion of the Purchase Price to be held in abeyance during the performance of the Buyer under the Mesquite Housing Element Purchase Price and the City of Mesquite Redevelopment Agency Building, Remodeling, and Rehabilitation Program Grant Agreement (Exhibit C) shall be secured by a trust deed during the Qualification Period. Therefore, Escrow shall cause to be recorded a first position deed of trust on the Property. Buyer agrees and guarantees that this deed of trust shall have priority as of the date said trust deed is recorded over any and all other encumbrances, notes, debts, or other financial obligations related to the Property, except where prohibited by state or federal law.
First Deed of Trust. Tenant's rights under this option are and shall be subject and subordinate to any deed of trust constituting a first lien on the Premises, or any part thereof, whether such deed of trust has heretofore been, or may hereafter be, placed upon the Premises to secure an indebtedness to any savings bank, bank, trust company, or other institutional lender, private or public, and to any renewal, modification, consolidation, replacement, or extension of any such deed of trust. This subordination is limited and relates only to a first mortgage securing an indebtedness that will not on any option date exceed the price at which this option may then be exercised on that date, as herein provided. This subordination shall be self-operative and no further instrument of subordination shall be required. Tenant shall, nevertheless, execute and deliver, from time to time, any instrument and certificate affirming and confirming such subordination that Landlord may reasonably request. Landlord will cause any such deed of trust to contain provisions requiring the holder of the indebtedness secured by deed of trust to mail to Tenant by registered mail, addressed to Tenant at its office as set forth in this Lease, a copy of each notice of breach of covenant, default, or foreclosure given by the holder or the trustee under such deed of trust to Landlord. Notwithstanding the provisions of Paragraph 26(b), Tenant may, upon receiving notice of breach of covenant, default or foreclosure, under such deed of trust, exercise the option for the price and upon such other terms set forth in this Paragraph 26.
