Loan Requirements. A loan made to a family purchasing a home con- structed or substantially rehabilitated under the program:
(1) Must be secured by a second xxxx- xxxx held by HUD on the property in- volved;
(2) May not exceed $15,000;
(3) May not bear interest;
(4) Is repayable to HUD upon the sale, lease, or other transfer of the property; except, as an alternative, the nonprofit organization may elect to provide the Homeowner Incentive under § 280.55(c) for subsequent sale or transfer of the property (the Home- owner Incentive is not available upon the lease of the property).
(5) Must be applied by the family to the purchase price of the home.
(6) May not be used by the family to provide the downpayment required under § 280.45.
(7) Is subject to such other terms and conditions as HUD may require.
Loan Requirements. After the first anniversary, you may borrow from us on the contract. All these conditions must be met:
Loan Requirements. If and to the extent the insurance requirements with respect to a Property Owner set forth in the Loan Documents evidencing or securing the Loan (or any other loan obtained by Owner or a Property Owner secured by one or more Properties) exceed the requirements set forth in this Section 12, the more stringent requirements set forth in such loan documents shall govern.
Loan Requirements. A loan pursuant to Section 7.3 shall not be made to a Member unless such loan meets all of the following requirements:
Loan Requirements. A loan shall not be made to a Participant pursuant to Section 1 unless such loan meets all of the following requirements:
Loan Requirements. After the first anniversary, you may borrow from us on the
Loan Requirements. This Mortgage is in consideration of a loan from Lender to Borrower in the amount of ($ ) (the “Loan”), as evidenced by the Note, for the purchase of the Property. The Loan has been made to Borrower through Xxxxxx's NextDown Program and can be made to Borrower only if Borrower agrees to the requirements set forth herein. In consideration of the Loan and of the mutual covenants and understandings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Xxxxxx and Borrower agree as follows:
Loan Requirements. (i) [Intentionally Omitted].
Loan Requirements. In order to be eligible for purchase of a Senior Participation by SDAI, each Loan shall be (a) in compliance with the Underwriting Criteria approved from time to time by SDAI and set forth in a written schedule, and (b) written on a retail installment contract form customarily used in the industry and subject to the reasonable approval of SDAI. The initial Underwriting Criteria shall be as set forth in Exhibit "A" attached hereto.
Loan Requirements. Recipient hereby represents and warrants to EDA that it is a locally owned and operated for-profit restaurant with a commercial (non-home-based) establishment in the City of Prior Lake which has been operating since March 13, 2020 and that one of the following is true and correct:
a) Recipient is a full-service restaurant which relies primarily on the service of lunch and/or dinner to customers in its interior dining room without access to a drive-thru or take-out window and held on March 13, 2020 and continues to hold an on-sale intoxicating liquor license; or,
b) Recipient is a full-service restaurant serving breakfast, lunch and dinner where the majority of customers are served and consume food in its interior dining room without access to a drive-thru or take-out window.
