Mortgage Assistance Sample Clauses

Mortgage Assistance. For a period of three years following your purchase of a home on Long Island (the "Long Island Home"), the Company will pay you a mortgage assistance allowance equal to $50,000 per annum, payable in equal monthly installments. The foregoing is subject to your continued employment with the Company during such three-year period. If (A) your employment terminates "without cause" (as defined in Section 4(e) hereof), (B) you terminate your employment for "good reason" (as defined in Section 4(d) hereof), or (C) upon a "Change of Control" (as defined in Section 7 hereof) prior to the end of such three-year period, you will continue to receive such mortgage assistance allowance on the terms described in this section provided that you remain resident in the Long Island Home.
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Mortgage Assistance.  Financial assistance to allow a homeowner to reinstate a mortgage  Mortgage principal reduction on a first mortgage (in an amount not to exceed delinquency plus applicable fees)  Mortgage principal reduction on a second mortgage provided by a nonprofit or government entity, whether or not the second mortgage is forgivable or non-interest bearing (in an amount not to exceed delinquency plus applicable fees)  Payment assistance for delinquent property taxes to prevent homeowner tax foreclosures  Payment assistance for down payment assistance loans provided by nonprofit or government entities  Facilitating mortgage interest rate reductions (in an amount not to exceed delinquency plus applicable fees) as part of a larger mortgage modification solution  Payment assistance for other housing related costs related to reinstating the loan after a period of forbearance, delinquency, or default
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Mortgage Assistance. Provide assistance to homeowners who are in arrears on mortgages because of impacts from COVID-19. This would be in addition to the $7 million Emergency Rental Assistance Program that is currently underway through the county. ($1,481,564) COMPLETED Administrative Cost: $109,573 Workforce Rental Housing Assistance: A pilot project to provide residents who qualify under workforce housing guidelines by providing direct payments to landlords. ($924,000) Administrative Cost: $1,724 Starway Village Gap Financing: To support the development of nearly 300 affordable housing units off Carolina Beach Road. ($1,896,729) Housing Specialist: A position at the Department of Social Services to provide counseling around housing. ($34,059) COMPLETED Emergency Rental Assistance Program Manager: A position at the Department of Social Services to manage ERAP. ($45,659) COMPLETED Physical and Mental Health - $22,159,556 The well-being and mental health of children, students and seniors suffered during the pandemic and the legislation allows local governments to use funds to mitigate the public health impact of the pandemic. The county will use funds as outlined below to help address these issues and provide long-term positive impacts. With the exception of the infant and toddler initiatives, the intention is to ultimately fold the services into the county’s continuation budget. Community Violence Initiatives: To support the Board’s commitment to reduce violence in schools and the community through several innovative approaches. ($11,533,329) Mental Health in Schools: Ensure access at each public school to mental health counselors through the county’s Health and Human Services Department. ($4,785,990) Mental Health for Seniors: Establish mental health counselors and a mobile health outreach team based at the Senior Resource Center to serve our county’s older adults. ($366,146) Virtual Outreach Position: Based at the Senior Resource Center, the position develops and maintains virtual programs for the SRC, which allows broader reach and service delivery. ($106,156) School Nurses: Reclassify two school nurses into school nurse leads and provide one school nurse supervisor through the county’s Health and Human Services Department, in addition to the school nurses that the county already provides at each school. ($211,892) Afterschool Transportation: Providing New Hanover County Schools students with transportation needs for afterschool and tutoring programs ($91,000) Health Educato...
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Mortgage Assistance. Payments of PITI for up to fifteen (15) months (twenty-four (24) months for applications initiated on or after October 1, 2013). • Restore – One-time payment not to exceed fifteen (15) months of assistance (twenty-four (24) months for applications initiated on or after October 1, 2013). •
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Mortgage Assistance. The CSM can help you identify national mortgage lenders and assist you with understanding the myriad of options available. These lenders may also provide direct billing of your approved reimbursable closing costs to Executive Relocation. Your assigned real estate agent can also be very helpful.
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Mortgage Assistance. For a period not to exceed 12 months, the company will pay the lesser of the two (2) mortgage payments (New residence or Old residence). To qualify and be eligible for continuing payments, you must: 1) Be actively marketing the property for Sale by a licensed Real Estate Firm, 2) The Real Estate Firm must have written authority to discuss the sale of the property with representatives of the Company, 3) The property must be maintained in good, clean selling appearance, inside and out, 4) Any damage by storm, vandals or other acts must be immediately repaired at your expense. Any reduction in the mortgage principal balance during the time the company is making mortgage payments on your behalf shall be used to offset the total expense incurred during the relocation and be treated as part of the direct payments by Kash n' Xxxxx Food Stores, Inc. to you for covered expenses. TEMPORARY BRIDGE LOAN To expedite your relocation, the company will provide an interest free bridge loan, payable immediately on the sale of the old residence. The bridge loan shall be for up to 75% of the equity value in the "old" residence, not to exceed $50,000.00. The equity value shall be determined by the average of at least two (2) Market Analysis reports submitted by independent, licensed Real Estate Brokers, minus the current mortgage principal balance as certified in writing by your mortgage company. A promissory note must be signed and a Deed of Trust against the new property may be required. Repayment of the bridge loan is required immediately at the time of Closing/Settlement on the old residence. RELOCATION OF SPOUSE/FAMILY Generally one (1) round trip airfare will be provided for your spouse to "house xxxx" in the area. This expense is evaluated on an individual basis. We assume that the employee, spouse and family will drive to the area for the relocation. During this travel, expenses for motel(s), meal(s) and gasoline are covered based on submission of receipts for actual expense incurred. Meals are covered at the rate of $12.00 per day per family member. TRANSITION EXPENSE/TEMPORARY HOUSING We will cover temporary housing during relocation for you for up to sixty (60) days. Should you be housed in a location that does not offer kitchen facilities, we provide $60.00 per week allowance for meals. No receipts are necessary should this arrangement be necessary. If kitchen facilities are available no food allowance is provided. LAUNDRY EXPENSE Laundry expenses are covered, when...
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Mortgage Assistance. Payments of PITI for up to fifteen (15) months (twenty-four (24) months for applications initiated on or after October 1, 2013). • Restore – One-time payment not to exceed fifteen (15) months of assistance (twenty-four (24) months for applications initiated on or after October 1, 2013). • Tax Lien Extinguishment – One-time payment equal to the delinquent real property taxes. If eligible, homeowners may participate in one or more components. For example, if a program participant receives LifeLine assistance to bring his/her mortgage current after a six (6) month delinquency, the participant may still be eligible for up to nine (9) months of Mortgage Assistance payments, as long as the total amount of assistance does not exceed $32,385 and the total duration does not exceed fifteen (15) months ($38,400 and twenty-four (24) months, respectively for applicants on or after October 1, 2013). Additionally, participants who enroll as unemployed borrowers and regain employment while receiving assistance from HomeSaver, but at a wage that is 75% or less of their pre- hardship employment wage, can continue to receive assistance as underemployed borrowers, assuming all eligibility criteria are met, including gross income at or under 120% of AMI and such that the monthly mortgage payment (PITI) is greater than 38% of the participant’s gross monthly income (LifeLine and Mortgage Assistance).
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Related to Mortgage Assistance

  • Predatory Lending Regulations; High Cost Loans None of the Mortgage Loans are classified as (a) “high cost” loans under the Home Ownership and Equity Protection Act of 1994 or (b) “high cost,” “threshold,” “predatory” or “covered” loans or “High Cost Home Loans” under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees);

  • Administration of the Mortgage Loan (a) Subject to this Agreement (including but not limited to Section 5(c)) and the Lead Securitization Servicing Agreement and subject to the rights and consents, where required, of the Controlling Note Holder, the Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any action or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy, and no Non-Lead Securitization Note Holder shall have any voting, consent or other rights whatsoever except as explicitly set forth herein with respect to the Lead Securitization Note Holder’s administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this Agreement and the Lead Securitization Servicing Agreement, no Non-Lead Securitization Note Holder shall have any right to, and each Non-Lead Securitization Note Holder hereby presently and irrevocably assigns and conveys to the Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) the rights, if any, that such Note Holder has to, (i) call or cause the Lead Securitization Note Holder to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing or causing the Lead Securitization Note Holder to file any bankruptcy petition against the Mortgage Loan Borrower. The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall not have any fiduciary duty to any Non-Lead Securitization Note Holder in connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Note Holder from the obligation to make any disbursement of funds as set forth herein or its obligation to follow the Servicing Standard (in the case of the Master Servicer or the Special Servicer) or any liability for failure to do so). Each Note Holder hereby acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder), upon the Mortgage Loan becoming a Defaulted Loan to sell the Notes together as notes evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement and shall require that all offers be submitted to the Special Servicer in writing. Whether any cash offer constitutes a fair price for the Mortgage Loan shall be determined by the Special Servicer, if the highest offeror is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested Person. Absent an offer at least equal to the Purchase Price, no offer from an Interested Person shall constitute a fair price unless (i) it is the highest offer received and (ii) at least two other offers are received from independent third parties. In determining whether any offer from an Interested Person received represents a fair price for the Mortgage Loan, the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) conducted in accordance with the Lead Securitization Servicing Agreement within the preceding nine (9)-month period or, in the absence of any such Appraisal, on a new Appraisal. In determining whether any such offer from a Person other than an Interested Person constitutes a fair price for the Mortgage Loan, the Special Servicer shall take into account (in addition to the results of any Appraisal or updated Appraisal or narrative appraisal that it may have obtained within the prior nine (9) months pursuant to the Lead Securitization Servicing Agreement) among other factors, the period and amount of the occupancy level and physical condition of the Mortgaged Property and the state of the local economy. In determining whether any offer received from an Interested Person represents a fair price for any such Defaulted Loan, the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) of the related Mortgaged Property conducted in accordance with this Agreement within the preceding nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal. Except as provided in the following paragraph, the cost of any Appraisal will be covered by, and will be reimbursable as, a Servicing Advance by the Master Servicer. Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) shall not be permitted to sell the Mortgage Loan without the written consent of each Non-Lead Securitization Note Holder (provided that such consent is not required if the related Non-Lead Securitization Note is held by a Borrower Party) unless the Special Servicer has delivered to such Non-Lead Securitization Note Holder: (a) at least 15 Business Days prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed sale date, a copy of each bid package (together with any amendments to such bid packages) received by the Special Servicer in connection with any such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy of the most recent appraisal for the Mortgage Loan, and any documents in the servicing file reasonably requested by such Non-Lead Securitization Note Holder that are material to the sale price of the Mortgage Loan and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to other offerors and the Lead Securitization Note Holder Representative) prior to the proposed sale date, all information and other documents being provided to other offerors and all leases or other documents that are approved by the Master Servicer or the Special Servicer in connection with the proposed sale; provided, however, that such Non-Lead Securitization Note Holder may waive any delivery or timing requirements set forth in this sentence only for itself. Subject to the foregoing, each of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling Note Holders and the Non-Controlling Note Holder Representatives shall be permitted to submit an offer at any sale of the Mortgage Loan (unless such Person is a Borrower Party). Notwithstanding anything contained in the preceding paragraph to the contrary, if the Trustee is required to determine whether a cash offer by an Interested Person constitutes a fair price, the Trustee may (at its option and at the expense of the offering Interested Person purchaser) designate an independent third party expert in real estate or commercial mortgage loan matters with at least five (5) years’ experience in valuing loans similar to the Mortgage Loan, that has been selected with reasonable care by the Trustee to determine if such cash offer constitutes a fair price for the Mortgage Loan. If the Trustee designates such third party to make such determination, the Trustee shall be entitled to rely conclusively upon such third party’s determination. The reasonable fees of, and the costs of all appraisals, inspection reports and broker opinions of value incurred by any such third party shall be covered by, and shall be reimbursable, from the offering Interested Person. Each Non-Lead Securitization Note Holder hereby appoints the Lead Securitization Note Holder as its agent, and grants to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting offers for and consummating the sale of the related Non-Lead Securitization Note. Each Non-Lead Securitization Note Holder further agrees that, upon the request of the Lead Securitization Note Holder, such Non-Lead Securitization Note Holder shall execute and deliver to or at the direction of Lead Securitization Note Holder such powers of attorney or other instruments as the Lead Securitization Note Holder may reasonably request to better assure and evidence the foregoing appointment and grant, in each case promptly following request, and shall deliver the original related Non-Lead Securitization Note, endorsed in blank, to or at the direction of the Lead Securitization Note Holder in connection with the consummation of any such sale. The authority of the Lead Securitization Note Holder to sell the Non-Lead Securitization Notes, and the obligations of the Non-Lead Securitization Note Holders to execute and deliver instruments or deliver the Non-Lead Securitization Notes upon request of the Lead Securitization Note Holder, shall terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased by the Initial Note Holder from the trust fund established under the Lead Securitization Servicing Agreement in connection with a material breach of representation or warranty made by such Initial Note Holder with respect to the Lead Securitization Note or material document defect with respect to the documents delivered by the related Initial Note Holder with respect to the Lead Securitization Note upon the consummation of the Lead Securitization. The preceding sentence shall not be construed to grant to a Non-Lead Securitization Note Holder the benefit of any representation or warranty made by such Initial Note Holder or any document delivery obligation imposed on such Initial Note Holder under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that may be executed or delivered by such Initial Note Holder in connection with the Lead Securitization.

  • Administration of the Mortgage Loans (a) All of the Serviced Mortgage Loans and Administered REO Properties are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Mortgage Loans and Administered REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of a Serviced Loan Combination, for the benefit of the Certificateholders and the related Serviced Non-Trust Mortgage Loan Noteholder(s)), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement; (iii) the express terms of the respective Serviced Mortgage Loans and any and all related intercreditor, co-lender or similar agreements (including with respect to performing the duties of the holders of the respective Serviced Mortgage Loans thereunder (to the extent not inconsistent with this Agreement and to the extent consistent with the Servicing Standard)); and (iv) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Serviced Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing and subject to Section 3.21, (i) the Master Servicer shall service and administer all of the Performing Serviced Mortgage Loans and shall render such services with respect to the Specially Serviced Mortgage Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan and Administered REO Property and shall render such services with respect to Performing Serviced Mortgage Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.21.

  • Mortgage Protection Lessee agrees to give any mortgages and/or trust deed holders, as to all or a potion of the Premises, by registered mail, a copy of any notice of default served upon Lessor, provided that prior to such notice Lessee has been notified in writing (by way of notice or assignment of rents and leases, or otherwise) of the addresses of such mortgages and/or trust deed holders. Lessee agrees not to exercise any remedies available by virtue of a default unless Lessor shall have failed to cure such default within thirty (30) days after receipt of notice of default or such additional time as may be reasonably necessary to cure the default in the case of a default incapable of being cured within thirty (30) days. Lessee further agrees that the mortgages and/or trust deed holder shall have an additional thirty (30) days within which to cure such default, or if such default cannot be cured within that time, then such additional time as may be necessary if within such thirty (30) days any mortgagee and/or trust deed holder has commenced and is diligently pursuing the remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings if necessary to effect such cure), in which event such right, if any, as Lessee might otherwise have to terminate the Lease shall not be exercised while such remedies are being so diligently pursued.

  • Relief Act Mortgage Loans As to any Relief Act Mortgage Loan, the excess of (i) 30 days' interest (or, in the case of a principal prepayment in full, interest to the date of prepayment) on the Scheduled Principal Balance thereof (or, in the case of a principal prepayment in part, on the amount so prepaid) at the related Net Rate over (ii) 30 days' interest (or, in the case of a principal prepayment in full, interest to the date of prepayment) on such Scheduled Principal Balance (or, in the case of a Principal Prepayment in part, on the amount so prepaid) at the Net Rate required to be paid by the Mortgagor as limited by application of the Relief Act.

  • Mortgage Provisions The Mortgage Loan documents for each Mortgage Loan, together with applicable state law, contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, non-judicial foreclosure subject to the limitations set forth in the Standard Qualifications.

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