Loans for individual properties Sample Clauses

Loans for individual properties. The Promissory Notes in favor of the Agency, and those in favor of the City, applicable to the Project Nos. 1-14 shall be amended and restated to conform to this Agreement (specifically Exhibit A of Attachment No 1). However, it is not intended to amend any portion of the Promissory Notes relating to the Development Fee. Provisions relating to the Development Fee shall begin with Property No. 15, only, and then apply to all future projects. Notwithstanding the foregoing, this Agreement amends each separate loan agreement, where such existed, or other applicable document, and to the extent that this Agreement is inconsistent with any prior one affecting the aforementioned Projects, this Agreement shall prevail. The Notes and Deed of Trust continue to provide that a default on any one Note can result in a default on all of the Properties subject to the Agreement, now and any property amended to conform to this Agreement in the future from time to time, which can result in the Agency or City exercising foreclosure rights on all of the Projects. Accounting shall be maintained for each individual property in compliance with this Agreement. A Deed of Trust, recorded on October 25, 2006 as Instrument No. 062369323, secures loans and notes affecting the Properties. Subsequent loans have referenced such deed of trust, and all future notes shall further be secured by modifying the above referenced deed of trust to include additional properties. Property No. 15 shall further be subject to this Master Loan Agreement and secured by the Deed of Trust. All loans from the Agency and from the City are now subject to the following terms. As a new term for loans beginning with Property No. 15 and thereafter, the Affordable Housing Agreement and/or Regulatory Agreement shall provide that the Affordability Period for each property shall be automatically extended each time a subsequent loan is made to Borrower for a different affordable project, to reflect that time period. For example, the AHA and Regulatory Agreement for Project No. 15 requires a 55 year Affordability Period. If, for example, the Agency lends money to Borrower for an affordable project for a new Property No, 16 , and that property has a 55 year Affordability Period beginning on Jan. 2010, and ending on Jan. 2065, then the Affordability Period for Project No. 15 is automatically extended to Jan. 2065, and so on.
Sample 1
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Loans for individual properties. In order for the Agency to increase its loan on certain properties, the Promissory Notes in favor of the Agency, and those in favor of the City, applicable to the Project Nos. 1-10 shall be amended and restated to conform to this Loan Agreement. This Loan Agreement amends each separate loan agreement, where such existed, or other applicable document, and to the extent that this agreement is inconsistent with any prior one affecting the aforementioned Projects, this agreement shall prevail. As consideration for the refinancing, all of the separate loans shall be treated as one; therefore, a default on one Note can result in a default on all eleven (11) Notes; which can result in the Agency or City exercising foreclosure rights on all eleven of the Projects. Accounting shall be maintained for each individual property (Project Nos. 1 through 11) in compliance with this Amended Loan Agreement. The project specific deed of trusts shall be released and a new Deed of Trust shall secure all properties collectively (hereafter ―Properties‖). All loans from the Agency and from the City are now subject to the following terms.
Sample 1

Related to Loans for individual properties

  • Real Property (a) Neither the Company nor any of its Subsidiaries owns any real property.

  • Real Property; Personal Property (a) On the Disaffiliation Date, Local Church will have full title and ownership of the Real Property and Personal Property. The parties shall ensure all necessary transfers or other transactions relating to the above properties are completed on or prior to the Disaffiliation Date. Any costs resulting from such transfers or other transactions shall be borne by Local Church. Annual Conference shall fully cooperate with Local Church, as needed and applicable, to ensure that such transfers and other transactions convey all of Annual Conference’s interest – both for itself and on behalf of The United Methodist Church – in the Real Property and Personal Property, both tangible and intangible, of Local Church.

  • Alpine Areas The employer shall pay an Alpine disability allowance of $2.50 per hour worked on projects in alpine areas.

  • Project Area The Project Area is the incorporated area of the City of San Xxxx.

  • Obligation to Notify Owner of Existing Hazardous Materials The Contractor shall immediately notify the Owner and the Design Professional, both orally and in writing, of the presence and location of any physical evidence of, or information regarding the presence of Hazardous Materials at the Site of which it becomes aware. If the Contractor encounters Hazardous Materials on the Site the Contractor shall (i) immediately stop performance of Work or that portion of the Work affected by or affecting such Hazardous Materials; (ii) secure the contaminated area against intrusion; (iii) not disturb or remove the Hazardous Materials; (iv) not proceed, or allow any subcontractor or supplier to proceed, with any Work or other activities in the area affected by such Hazardous Materials until such materials have been properly remediated and until directed in writing to do so by the Owner; and, (v) take any other steps necessary to protect life and health and the surrounding environment. The Contractor shall be entitled to adjustment of the Contract Time and the Contract Sum pursuant to Section 5, Part 2 of these General Conditions in order to compensate for the impact of any required demolition, re-work, shutdown, delay, protection of work, disruption, and start-up resulting from the encountering of such Hazardous Materials on the Site for which the Contractor is not responsible.

  • Tangible Personal Property (a) The Contractor on its behalf and on behalf of its Affiliates, as defined below, shall comply with the provisions of Conn. Gen. Stat. §12-411b, as follows:

  • Coverage C – Personal Property We insure for direct physical loss to the property described in Coverage C caused by any of the following perils unless the loss is excluded in Section I – Exclusions.

  • No Restriction on Existing Examination and Investigative Authority That this Agreement shall in no way preclude any State Mortgage Regulator from exercising its examination or investigative authority authorized under the laws of the corresponding Participating State in the instance a determination is made wherein Respondent is found not to be adhering to the requirements of the Agreement, other than inadvertent and isolated errors that are promptly corrected by Respondent, or involving any unrelated matter not subject to the terms of this Agreement. The Parties agree that the failure of Respondent to comply with any term or condition of this Agreement with respect to a particular State shall be treated as a violation of an Order of the State and may be enforced as such. Moreover, Respondent acknowledges and agrees that this Agreement is only binding on the State Mortgage Regulators and not any other Local, State or Federal Agency, Department or Office.

  • Prohibition Against Selecting and Installing Products Containing Hazardous Materials The Contractor shall not select, install or otherwise incorporate any products or materials containing Hazardous Materials within the boundaries of the Site. Should the Contractor or any Subcontractors have knowledge that, or believe that, an item, component, material, substance, or accessory within a product or assembly selected by the Contractor or any Subcontractor may contain Hazardous Materials it is the Contractor’s responsibility to secure a written certification from the manufacturer of any suspected material which identifies the specific Hazardous Material(s) contained, together with the Material Safety Data Sheets (MSDS) for such materials which shall be submitted to the Owner and Design Professional.

  • Right of Way and Real Property The party named in Article 1, Responsible Parties, under AGREEMENT is responsible for the provision and acquisition of any needed right of way or real property. The Local Government shall be responsible for the following:

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