Mortgagee Consents Sample Clauses
The Mortgagee Consents clause establishes that any actions or agreements affecting the property, such as amendments, leases, or transfers, require the prior written consent of the mortgagee (the lender holding the mortgage). In practice, this means that the property owner must seek and obtain approval from the mortgagee before making significant changes or entering into new obligations related to the property. This clause ensures that the mortgagee's interests are protected by preventing unauthorized actions that could impact the value or security of their collateral, thereby reducing the lender's risk.
Mortgagee Consents. The Developer represents and warrants that it has obtained the consent of all existing mortgagees of the Project to the execution and recording of this Agreement and to the terms and conditions hereof and that all such mortgagees have executed the Consent to Regulatory Agreement attached hereto and made a part hereof. Executed as a sealed instrument as of the date first above written. By:_ Its: DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT By:_ Its: MUNICIPALITY By:_ Its Chief Executive Officer Attachments: Exhibit A - Legal Property Description Exhibit B - Rents for Low and Moderate Income Units COUNTY OF , ss. , 20 On this day of , 20 , before me, the undersigned notary public, personally appeared , proved to me through satisfactory evidence of identification, which were , to be the person whose name is signed on the preceding document, as of the [Developer], and acknowledged to me that he/she signed it voluntarily for its stated purpose. Notary Public Print Name: My Commission Expires: COUNTY OF , ss. , 20 On this day of , 20 , before me, the undersigned notary public, personally appeared , proved to me through satisfactory evidence of identification, which were , to be the person whose name is signed on the preceding document, as for the Commonwealth of Massachusetts acting by and through the Department of Housing and Community Development, and acknowledged to me that he/she signed it voluntarily for its stated purpose. Notary Public Print Name: My Commission Expires: COUNTY OF , ss. , 20 On this day of , 20 , before me, the undersigned notary public, personally appeared , proved to me through satisfactory evidence of identification, which were , to be the person whose name is signed on the preceding document, as for the City/Town of , and acknowledged to me that he/she signed it voluntarily for its stated purpose. Notary Public Print Name: My Commission Expires:
Mortgagee Consents. Seller will use reasonable efforts to obtain the mortgagee consents, if any, required pursuant to Section 4.8(a) hereof.
Mortgagee Consents. [INTENTIONALLY OMITTED.]
Mortgagee Consents. The Developer represents and warrants that it has obtained the consent of all existing mortgagees of the Project to the execution and recording of this Agreement and to the terms and conditions hereof and that all such mortgagees have executed the Consent and Subordination of Mortgage to Regulatory Agreement attached hereto and made a part hereof.
Mortgagee Consents. Whenever Mortgagee’s consent or approval is required under this Mortgage, unless otherwise expressly provided herein, such consent or approval shall be in Mortgagee’s Permitted Discretion as defined in the Loan Agreement.
Mortgagee Consents. The Owner represents and warrants that it has obtained the consent of all existing mortgagees of the Project to the execution and recording of this Restriction and to the terms and conditions hereof and that all such mortgagees have executed the Consent and Subordination of Mortgage to Affordable Housing Restriction Agreement for 40R Rental Project attached as Exhibit C hereto and made a part hereof.