Common use of INSERT COMPLETE MORTGAGE Clause in Contracts

INSERT COMPLETE MORTGAGE. INSTRUMENT NAME] from Borrower to Lender dated [_________ ___, 20__] encumbering the Property and securing repayment of the Loan and any other obligations of Borrower (the “Mortgage Instrument”) and granting Lender a [first priority lien]2 on the Property and all materials and other personal property related to the construction/renovation of the Improvements, as evidenced by the Security Documents (as defined in Section VI of this Loan Agreement). This Loan Agreement, the Note, the Mortgage Instrument, the Security Documents, the Summary of Fees (as provided in Section III(C) of this Loan Agreement) and any other documents or instruments evidencing or securing the Loan are collectively referred to herein as the “Loan Documents.” 1 Insert name and business type of original lending entity. 2 Insert “second priority lien,” if appropriate.

INSERT COMPLETE MORTGAGE. INSTRUMENT NAME] from Borrower to Lender dated [_________ ___, 20__] encumbering the Property and securing repayment of the Loan and any other obligations of Borrower (the “Mortgage Instrument”) and granting Lender a [first priority lien]2 on the Property and all materials and other personal property related to the construction/renovation of the Improvements, as evidenced by the Security Documents (as defined in Section VI of this Loan Agreement). This Loan Agreement, the Note, the Mortgage Instrument, the Security Documents, the Summary of Fees (as provided in Section III(C) of this Loan Agreement) and any other documents or instruments evidencing or securing the Loan are collectively referred to herein as the “Loan Documents.” 1 Insert name and business type of original lending entity. 2 Insert “second priority lien,” if appropriate.”

INSERT COMPLETE MORTGAGE. INSTRUMENT NAME] from Borrower to Lender dated [_________ ___, 20__] encumbering the Property and securing repayment of the Loan and any other obligations of Borrower (the “Mortgage Instrument”) and granting Lender a [first priority lien]2 lien]1 on the Property and all materials and other personal property related to the construction/renovation of the Improvements, as evidenced by the Security Documents (as defined in Section VI of this Loan Agreement). This Loan Agreement, the Note, the Mortgage Instrument, the Security Documents, the Summary of Fees (as provided in Section III(C) of this Loan Agreement) and any other documents or instruments evidencing or securing the Loan are collectively referred to herein as the “Loan Documents.” 1 Insert name and business type of original lending entity. 2 Insert “second priority lien,” if appropriate.”