Mortgage Financing. The Purchase Agreement IS IS NOT subject to the mortgage financing provisions below. If IS, complete the MORTGAGE 37 FINANCING section below. 38 Buyer shall apply for and secure, at Xxxxx's expense, a: 39 CONVENTIONAL 40 OTHER 41 Mortgage estimated to be % of the sale price amortized monthly over a period of not more than years with an 42 initial mortgage interest rate of no more than % per year with 0 discount points (0.5 if required by financing program), plus 43 Private Mortgage Insurance, if applicable.
Mortgage Financing. (a) During the initial five (5) year period from the commencement of construction of the Project, the Redeveloper shall not engage in any financing or any other transaction creating any Mortgage on the Project in excess of 90 percent of the cost of acquiring the Property and developing the Project (including designing, permitting and constructing the Project), except as may be approved by the Township (which approval shall not be unreasonably withheld) for the purpose of obtaining funds in connection with the construction of the Project.
(b) In the event that the Redeveloper is unable to obtain financing for the Project on terms and conditions acceptable to Redeveloper in its sole discretion, or if Redeveloper determines that financing for the Project cannot be obtained on terms and conditions acceptable to Redeveloper in its sole discretion, then Redeveloper shall have the right to terminate this Agreement upon at least thirty (30) days prior written notice to the Township.
(c) If this Agreement is terminated pursuant to the terms of this Section 7.01 then, except as expressly set forth herein to the contrary and upon full payment of all Township Costs accruing until the date of such termination, this Agreement (including, without limitation, all the covenants contained herein) shall be of no further force and effect and the Parties hereto shall have no further rights, liabilities and/or obligations hereunder.
(d) If the Mortgagee reasonably requires any change(s) or modification(s) to the terms of this Redevelopment Agreement, the Township shall reasonably cooperate with the Mortgagee and the Redeveloper in reviewing and approving such proposed change(s) or modification(s); provided, however, that any such proposed change or modification shall not materially and adversely alter or modify the rights and obligations of the Redeveloper or the Township, as provided in this Redevelopment Agreement.
(e) To the extent reasonably requested by the Redeveloper, the Township shall execute such other agreements and/or documents (to the extent same are in form and content reasonably acceptable to the Township) as may be requested or required by any Mortgagee (or any equity participant of the Redeveloper); provided, however, that any such agreement or document shall not materially and adversely alter any of the rights, liabilities or obligations of the Redeveloper or the Township under this Redevelopment Agreement.
Mortgage Financing. In the event Landlord desires to obtain mortgage financing and Landlord's mortgagee or mortgagees reasonably request certain modifications or amendments to this Lease, then Tenant, on not less than twenty (20) days advance notice, agrees to execute such modifications or amendments as required. Notwithstanding the foregoing, Tenant shall not be required to execute any modifications or amendments to this Lease which shall modify the provisions of this Lease relating to the amount of Rent or other charges or costs to be paid by Tenant, Tenant's rights or obligations under the Lease, the size of the Premises, notice periods, notice requirements, cure periods, the duration of the term of this Lease, or otherwise subject Tenant to additional cost, expense, risk, liability or obligations. Tenant agrees to cooperate with Landlord's efforts in obtaining said mortgage financing provided there is no cost or expense to Tenant.
Mortgage Financing. 13.1 The Purchasers shall have the right to obtain home loan, finance from any Bank/Financial Institution for the purpose of creating a mortgage in respect of the said Unit provided however the Mortgagee shall observe and perform all the covenants restrictions stipulations terms and conditions including payment of various charges and deposits as agreed in this Agreement.
13.2 The Developer shall be entitled to raise loan and/or advances for the purpose and completion of the said Residential complex provided however the Vendor/Developer shall convey or transfer the said Unit free from any lien and/or charge whatsoever.
Mortgage Financing. If, as evidenced by the Qualification Letter, Buyer will be utilizing mortgage financing to pay for a portion of the Purchase Price, then the following provisions shall be applicable:
(i) Buyer represents and understands that Buyer is solely responsible for taking all necessary and appropriate steps as requested from time to time by (A) the Qualification Agent or (B) a lender arranged for, by or through the Qualification Agent or (C) selected by Buyer (the applicable one of (A), (B), or (C) being the “Buyer's Permanent Lender”) to complete the process of applying for and obtaining the required mortgage loan to pay for
Mortgage Financing. Neither the Redeveloper nor any successor in interest to the Project Area, Project Improvements, or any part thereof, shall engage in any financing or any other transaction creating any mortgage or other encumbrance or lien upon the Project Area, Project Improvements, or any part thereof, (other than mortgages or liens for governmental impositions, the loan agreement, any security agreement, the Third Party Financing, and for the purpose of obtaining funds in connection with the acquisition and/or restoration of the Project Area and the construction of the Project Improvements, and such encumbrances required for the development and construction of the Project Improvements), whether by express agreement or operation of law, or suffer any encumbrance or lien to be made or attach to the Project Area, Project Improvements, or any part thereof, except such encumbrances required for the development and construction of the Project Improvements, provided, however, that upon the issuance of a Certificate of Completion, such prohibition shall no longer apply with respect to the corresponding parcel of land and improvements. Redeveloper shall promptly notify the Borough of any encumbrance or lien (other than mortgage liens and liens for governmental impositions) that has been created on or attached to any portion of the Project Area, Project Improvements, or any part thereof, whether by voluntary act of the Redeveloper or otherwise, upon obtaining knowledge or notice of same. The provisions of this Agreement shall not be deemed to grant to Borough the right to approve or review the terms of any such proposed financing.
Mortgage Financing. If Contract is contingent on obtaining financing, an application for mortgage financing shall be made within two (2) business days from Contract Effective Date. Buyer shall obtain a written loan commitment from Buyer’s lender and provide a copy to Seller on or before 10 calendar days from the Effective Date of the Contract. In the event the Buyer’s financing is denied, Buyer shall provide a written letter from Buyer’s lender to support any request to terminate the contract. In the event Buyers are unable to obtain with the lender of their choosing, Cornerstone Relocation Group reserves the right to pursue financing through Cornerstone Relocation’s lenders. In the event Cornerstone Relocation Group is able to secure Buyer’s financing upon terms and conditions comparable to those identified in the contract, Buyer’s agree to close as provided in the contract. Buyer agrees to cooperate fully with any such financing.
Mortgage Financing. As soon as available and in no event later than 30 days prior to the closing of any mortgage financing against an Unencumbered Property, a certificate prepared by management of the Borrower (i) advising the Lender of the proposed mortgage financing, (ii) detailing the Property or Properties to be mortgaged, (iii) setting forth the source and terms of such financing, (iv) providing a copy of the appraisal, if any, to the Lender if in the possession or control of Borrower, and (v) evidencing compliance with the Borrowing Base and all of the financial covenants set forth in 5.3 and 5.4 hereof after giving effect to such mortgage financing;
Mortgage Financing. If, as evidenced by the Qualification Letter, Buyer will be utilizing mortgage financing to pay for a portion of the Purchase Price, then the following provisions shall be applicable:
(i) Buyer represents and understands that Buyer is solely responsible for taking all necessary and appropriate steps as requested from time to time by (A) Qualification Agent or (B) a lender arranged for, by or through Qualification Agent or (C) Buyer’s Permanent Lender to complete the process of applying for and obtaining Buyer’s Permanent Loan, as set forth in this Agreement. No guarantee has been given by Seller or its agents or sales representatives that Buyer will either qualify for financing offered by or through Qualification Agent or Buyer’s Permanent Lender or be able to obtain any other loan or financing. All financing and the terms and conditions thereof, including impound payments and interest rate, are a matter of concern solely between Buyer and Qualification Agent or Buyer’s Permanent Lender and shall not affect the rights or obligations of Seller or Buyer. Escrow may have additional funding requirements for non-local lenders and Buyer assumes the risk of using a non-local lender not approved by Escrow prior to Closing. Buyer is solely responsible for any loan fees or other charges payable to Buyer’s Permanent Lender in processing, issuing or cancelling Buyer’s Permanent Loan. It is further understood that Escrow may charge an additional escrow fee for the administration, handling, and processing of Buyer’s Permanent Loan if Buyer obtains such loan from a lender who does not have an office in Hawaii through which Buyer’s Permanent Loan will be processed and funded, and that Buyer shall be fully responsible for any such additional escrow fee. Buyer acknowledges and confirms that it is the sole responsibility of Buyer to remain qualified for Buyer’s Permanent Loan and Buyer shall not take or fail to take any action for the purpose or intent of being subsequently denied.
(ii) Buyer agrees to promptly submit to Buyer’s Permanent Lender, as and when required, all verifications, authorizations, certifications, tax returns and other documents necessary or appropriate for Buyer’s Permanent Lender to issue and/or reconfirm the written commitment for Buyer’s Permanent Loan. If the Qualification Letter is issued more than one hundred twenty (120) calendar days prior to the Scheduled Closing Date, then Buyer’s Permanent Lender will likely require that Buyer reconfirm and r...
Mortgage Financing. 4.1.1.1 Subject to clauses 4.
