Common use of No Construction Loans Clause in Contracts

No Construction Loans. No Mortgage Loan was made in connection with (i) facilitating the trade-in or exchange of a Mortgaged Property or (ii) the construction or rehabilitation of a Mortgaged Property unless (a) the Mortgage Loan was identified as a construction-to-permanent mortgage loan on the Mortgage Loan Schedule and (b) the Mortgage Loan has been fully disbursed, all construction work is complete and a completion certificate has been issued;

No Construction Loans. No Mortgage Loan was made in connection with (ia) facilitating the trade-in or exchange of a Mortgaged Property or (iib) the construction or rehabilitation of a Mortgaged Property Property, unless (a) the Mortgage Loan was identified as is a construction-to-permanent mortgage loan listed on the Mortgage Loan Schedule and (b) the Mortgage Loan which has been fully disbursed, all construction work is complete and a completion certificate has been issued;.

No Construction Loans. No Mortgage Loan was made in connection with (i) facilitating the trade-in or exchange of a Mortgaged Property or (ii) the construction or rehabilitation of a Mortgaged Property Property, unless (a) the Mortgage Loan was identified as is a construction-to-permanent mortgage loan listed on the Mortgage Loan Schedule and (b) the Mortgage Loan which has been fully disbursed, all construction work is complete and a completion certificate or certificate of occupancy (or a local equivalent) has been issued;.

No Construction Loans. No The Mortgage Loan was not made in connection with (ia) facilitating the trade-in or exchange of a Mortgaged Property or (iib) the construction or rehabilitation of a Mortgaged Property unless (a) the Mortgage Loan was identified as is a construction-to-permanent mortgage loan listed on the Mortgage Loan Schedule and (b) the Mortgage Loan which has been fully disbursed, all construction work is complete and a completion certificate has been issued;