Mortgage Parameters Sample Clauses

Mortgage Parameters. As more particularly set forth in Section 20.4 of the Lease, Phase II Landlord shall make reasonable and diligent efforts to obtain the Phase II Permanent Mortgage Loan (a) on a 75% loan to value basis, (b) with a term of not less than 10 years, (c) with an amortization schedule based on level payments of principal and interest for 25 years and (d) at then applicable market interest rates for such loans, given Tenant's financial condition and creditworthiness. As further provided in such Section, the terms of such loan must be approved by Tenant, and in such regard Tenant shall have the options set forth in said Section and Section 20.5. SCHEDULE L3 Description of Phase III Land PARCEL ONE A certain parcel of land situated off Xxxxx Xxxx Street, Marlborough, Middlesex County, Commonwealth of Massachusetts shown as Parcel 2 on a Plan entitled "Definitive Plan Xxxxxxx Xxxx Corporate Center Marlborough, Mass." dated April 4, 2000, revised May 11, 2000 and January 10, 2001 prepared by Xxxxx Engineering, Inc. recorded with Middlesex South Registry of Deeds as Plan No. 47 of 2001 ("Definitive Plan"), said parcel also being shown as Phase III on the sketch/plan entitled "Sketch Plan in Marlborough, Mass. Showing Proposed Phase Lines, Xxxxxxx Xxxx Corporate Center" dated January 10 2001, prepared by Xxxxx Engineering, Inc. (the "Phase Plan"), attached hereto. PARCEL TWO The right and easement, appurtenant to Parcel One above, to use the strip of land shown as the "Proposed Common Driveway Easement" on the Definitive Plan as described in a Declaration of Easements, Covenants and Restrictions by Hillside School, Inc. dated January 29, 2001 and recorded with the Notice of this Lease with Middlesex South Registry of Deeds as Instrument No. 375 of February 1, 2001. PARCEL THREE The right and easement, appurtenant to Parcel One above, to use the strip of land shown as "Common Driveway Easement" on the Definitive Plan for all purposes for which streets and ways are used in the Town of Northborough and City of Marlborough and for installation of improvements as defined in the Easement Agreement (hereinafter defined) and for other rights set forth in the Easement Agreement all as set forth in the Easement Agreement from Saint-Gobain Ceramics & Plastics, Inc. to Hillside School, Inc. dated January 29, 2001 and recorded with the Notice of this Lease with Middlesex South Registry of Deeds as Instrument No. 374 of February 1, 2001 and with Worcester Registry of Deeds in Book 2...
Sample 1
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Mortgage Parameters. As more particularly set forth in Section 21.3 of the Lease, Phase III Landlord shall make reasonable and diligent efforts to obtain the Phase III Permanent Mortgage Loan (a) on a 75% loan to value basis, (b) with a term of not less than 10 years, (c) with an amortization schedule based on level payments of principal and interest for 25 years and (d) at then applicable market interest rates for such loans, given Tenant's financial condition and creditworthiness. As further provided in such Section, the terms of such loan must be approved by Tenant, and in such regard Tenant shall have the options set forth in said Section and Section 21.4. -121- SCHEDULE OP Purchase Price under Tenant's Option to Purchase 1. Definitions in Lease. All terms used in this Schedule which are defined in the Lease to which this Schedule is attached shall have the meanings assigned to them in the Lease. In particular, reference is made to the definitions of Office, Research and Development Park or Park, Building, Base Project, Project, Budgeted Cost for Base Project, Phase II Land, Phase II Building, Phase II Project, Phase III Land, Phase III Building, Phase III Project and Purchase Option or Option to Purchase set forth in Section 1.1 of the Lease and the definitions of Base Project Cost, Budgeted Cost, Closing, Collective Owners, Phases II/III Preliminary Work Cost and Project Cost set forth in Section 1.2 of the Lease.
Sample 1

Related to Mortgage Parameters

  • Mortgage Loan Characteristics The characteristics of the related Mortgage Loan Package are as set forth on the description of the pool characteristics for the applicable Mortgage Loan Package delivered pursuant to Section 11 on the related Closing Date in the form attached as Exhibit B to each related Assignment and Conveyance Agreement;

  • Location and Type of Mortgaged Property The Mortgaged Property is a fee simple property located in the state identified in the related Mortgage Loan Schedule, except that with respect to real property located in jurisdictions in which the use of leasehold estates for residential properties is a widely-accepted practice, the Mortgaged Property may be a leasehold estate, and consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development and that no residence or dwelling is a mobile home; provided, however, that any condominium unit or planned unit development shall not fall within any of the "Ineligible Projects" of part XII, Section 102 of the Fannie Mae Selling Guide and shall conform with the Underwriting Guidelxxxx. In the case of any Mortgaged Properties that are manufactured homes (a "Manufactured Home Mortgage Loans"), (i) such Manufactured Home Mortgage Loan conforms with the applicable Fannie Mae or Freddie Mac requirements regarding mortgage loans related xx xxnxxxcturxx xxxxlings, (ii) the related manufactured dwelling is permanently affixed to the land, (iii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming Seller as mortgagee, (iv) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (v) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended, and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. As of the date of origination, no portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes;

  • Mortgage Schedules The Seller from time to time shall provide the Purchaser with certain information constituting a preliminary listing of the Mortgage Loans to be purchased on each Closing Date in accordance with the related Purchase Price and Terms Agreement and this Agreement (each, a "Preliminary Mortgage Schedule"). The Seller shall deliver the related Mortgage Loan Schedule for the Mortgage Loans to be purchased on a particular Closing Date to the Purchaser at least five (5) Business Days prior to the related Closing Date. The related Mortgage Loan Schedule shall be the related Preliminary Mortgage Schedule with those Mortgage Loans which have not been funded prior to the related Closing Date deleted.

  • The Mortgage Pool The Series ____-__ Certificates shall evidence the entire beneficial ownership interest in a mortgage pool (the "Mortgage Pool") of conventional, fixed rate, fully amortizing one- to four-family residential mortgage loans (the "Mortgage Loans") having the following characteristics as of ________ __, ____ (the "Cut-off Date"):

  • Mortgage Lessee does hereby agree to make reasonable modifications of this Lease requested by any Mortgagee of record from time to time, provided such modifications are not substantial and do not increase any of the Rents or obligations of Lessee under this Lease or substantially modify any of the business elements of this Lease.

  • Mortgaged Properties No Loan Party that is an owner of Mortgaged Property shall take any action that is reasonably likely to be the basis for termination, revocation or denial of any insurance coverage required to be maintained under such Loan Party’s respective Mortgage or that could be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises, and each Loan Party shall otherwise comply in all material respects with all Insurance Requirements in respect of the Premises; provided, however, that each Loan Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of this Section 5.04.

  • Type of Mortgaged Property With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are Manufactured Homes, log homes, mobile homes, geodesic domes or other unique property types. This representation and warranty is a Deemed Material and Adverse Representation;;

  • Maintenance of the Primary Mortgage Insurance Policies (a) The Master Servicer shall not take, or permit any Servicer (to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. (b) The Master Servicer agrees to present, or to cause each Servicer (to the extent required under the related Servicing Agreement) to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01 and 4.02, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Master Servicer Collection Account, subject to withdrawal pursuant to Section 4.03.

  • 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.

  • Mortgage Loan Schedule The information pertaining to each Mortgage Loan which is set forth in the Mortgage Loan Schedule attached as an exhibit to this Agreement is true and correct in all material respects as of the Cut-off Date and contains all information required by the Pooling and Servicing Agreement to be contained therein.

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