Partial Reconveyance Sample Clauses

Partial Reconveyance. Upon the prior written request by Trustor -------------------- to Beneficiary requesting that a portion of the Mortgaged Property that constitutes a separate legal parcel (hereinafter referred to as a "Parcel") be reconveyed, Beneficiary shall cause such Parcel(s) to be released from the lien of this Deed of Trust by depositing a request for such reconveyance into an escrow opened by or for Trustor in connection with the sale or refinance of such Parcel(s) provided that: -------- ---- (a) No Event of Default has occurred and is continuing and no event has occurred which, with notice or lapse of time or both, would constitute an Event of Default; (b) Beneficiary is paid the "Release Price" for such Parcel, as that term is defined in the Note; (c) Trustor shall be responsible for obtaining (and providing evidence of such to Beneficiary's satisfaction) all governmental approvals which may be required in order that the reconveyance or a subsequent foreclosure of the Mortgaged Property remaining subject to the lien of this Deed of Trust will not result in a disposition of property constituting a violation of any ordinance, law or regulation of any public authority relating to the subdivision, development or sale or resale of real property; (d) Beneficiary shall not be required to direct Trustee to reconvey any Parcel if: (i) Such reconveyance would, in the opinion of Beneficiary, (A) result in a disposition of property constituting the violation of any ordinance, law or regulation of any public authority or covenant, condition or restriction affecting the Mortgaged Property relating to the subdivision, development, sale or resale of real property, or (B) result in the violation of any ordinance, law or regulation of any public authority or covenant, condition or restriction affecting the Mortgaged Property relating to the subdivision, development, sale or resale of real property upon foreclosure by Beneficiary of any portion of the Mortgaged Property remaining subject to the lien of this Deed of Trust; or (ii) Such reconveyance would, in the opinion of Beneficiary, deny any portion of the Mortgaged Property remaining subject to the lien of this Deed of Trust the right of ingress and egress to and from any dedicated street to which such Mortgaged Property would otherwise be entitled or the right of access to any public utility services, lines and facilities to which such Mortgaged Property would otherwise be entitled or would restrict or adversely affect any suc...
Sample 1Sample 2See All (4)
Partial Reconveyance. Notwithstanding anything to the contrary contained in the Loan Documents, Lender will partially release its interest under the Deed of Trust with respect to a Project in connection with Borrower's bona fide sale of such Project to a third party, upon the satisfaction of all of the following conditions with respect to the release of each Project: (a) There shall be no Event of Default or Potential Default hereunder or under any of the other Loan Documents and no Event of Default shall have occurred under any of the Loan Documents; (b) Borrower shall give Lender at least thirty (30) days prior written notice of Borrower's request for the release of any Project; (c) Lender shall have determined that the outstanding principal balance of the Loan, after the release of the applicable Project, will not exceed, or shall be reduced with the proceeds of such sale to an amount which does not exceed, the Borrowing Base Amount (calculated excluding the Project which Borrower is requesting be released); (d) The Title Company shall issue appropriate endorsements to the Title Policy insuring the remaining Deed of Trust which provide that, (i) notwithstanding the release of the Deed of Trust for the Project in question, the lien of the Deed of Trust on the remaining Projects will continue to be a first lien, subject to no exceptions to title other than those shown on the Title Policy; (e) Borrower shall pay all reasonable costs associated with the release of Lender's interest in the applicable Project, including, without limitation, the costs of Lender's title policy endorsements referred to above, escrow costs, and Lender's reasonable legal fees and costs incurred in connection therewith; and (f) Lender shall have received payment, in immediately available funds of a non-refundable processing fee in the amount of Two Thousand Dollars ($2,000), which amount shall be nonrefundable and fully earned by Lender upon Borrower's request for the release of the applicable Project and shall be in addition to all other amounts required to be paid by Borrower under the Loan Documents.
Sample 1
Partial Reconveyance. At any time, without liability therefor and without notice, and without affecting the personal liability of Trustor or any other person for payment of the Obligations, Trustee may, with the consent of Beneficiary: (a) release and reconvey by deed of reconveyance any part of the Trust Estate from the lien hereof; (b) consent to the making and recording of any maps or plats of the Trust Estate; (c) join in granting any easement on the Trust Estate; or (d) join in any extension agreement or any agreement subordinating or modifying the lien or charge hereof. If Trustee shall perform any such acts or execute complete or partial reconveyances it shall be paid a fee in accordance with its established fees and charges therefor.
Sample 1
Partial Reconveyance. After disbursement of the principal of the Loan, Borrower shall be entitled to obtain partial reconveyance of entire properties encumbered by this Deed of Trust (but not portions of such properties) from the liens of this Deed of Trust on the following terms and conditions: (1) A release under this Section 6.13 may not take place more than three (3) times during the term of the Loan; (2) The property to be reconveyed shall constitute an entire real estate development, comprising one of the properties encumbered by
Sample 1
Partial Reconveyance. Upon Beneficiary's receipt from Grantor of copies of all executed and acknowledged transfer documents, conveying that portion of the Property described in Exhibit C ("Exhibit C Property") to Xxxxxx X. Xxxxx, Beneficiary shall execute and deliver a partial reconveyance of this Deed of Trust with respect to that Exhibit C Property contemporaneously with the transfer of said Exhibit C Property by Section 4.1 of the Settlement Agreement, dated as of February 28, 2002, by and between Pacific Aerospace & Electronics, Inc. and Xxxxxx X. Xxxxx., provided, however, that such obligation to reconvey said Exhibit C Property shall expire on June 1, 2002 and, thereafter, Beneficiary shall have no obligation to deliver such partial reconveyance of said Exhibit C Property.
Sample 1
Partial Reconveyance. Subject to the terms and conditions of this section 6, the County agrees to the partial reconveyance of the County Deed of Trust from the following Encumbered Agency Properties (the “Released Properties”): (i) that certain real property located at 000 Xxxxx Xxxxxx Xxxxxx, Xxx Xxxx, Xxxxxxxxxx 00000, commonly known as Old Fire Station No.1, and more particularly described on Exhibit A attached hereto. (ii) that certain real property located at 00 Xxxxx Xxxxxxx Xxxxxx, formerly known as the Plaza Hotel and more particularly described on Exhibit B attached hereto.
Sample 1
Partial Reconveyance. Upon the recordation of a final parcel map with the Office of the County Recorder by the City of San Diego dividing the property into two separate legal parcels substantially in the manner shown on Exhibit "A" attached hereto and made a part hereof by this reference, Beneficiary agrees to cause Trustee to reconvey that portion of the property identified as parcel 2 on the attached Exhibit "A", which partial reconveyance of the property shall be conditioned upon: (A) a reduction in the principle amount of the Promissory Note secured by this Deed of Trust of not less than $1,710,000.00; and (B) Trustor not being in default under the terms of this Deed of Trust, the Promissory Note secured hereby, the Building Loan Agreement, the Security Loan Agreement, the Security Agreement or any of the other loan documents executed with Beneficiary in conjunction with this Deed of Trust. The undersigned Trustor requests that a copy of any notice of default and of any notice of sale hereunder be mailed to him at his address hereinbefore set forth. Signature of Trustor Signature of Trustor WESTERRA PACIFIC ASSOCIATES, a California General Partnership By: /s/ EDWAXX X. XXXXXXX, XX., -------------------------------- General Partner By: /s/ E. SXXXXXX XXXIXXXX, -------------------------------- General Partner By: WesTerra Executives, Ltd., a California limited partnership, General Partner By: /s/ EDWAXX X. XXXXXXX, XX., --------------------------------- General Partner STATE OF CALIFORNIA ) ) SS. COUNTY OF SAN DIEGO ) 52 [SORRENTO LANDS AND TOWNSITE MAPS 382 & 483] PRELIMINARY PARCEL MAP LEGAL DESCRIPTION Lot 0 xx Xxxxxxxx Xxxxxxxxxx Xxxx Xxxx Xx. 0, Xxx Xx. 00000.
Sample 1
Partial Reconveyance. The Deed of Trust for Fiscal Year 2006 (Exhibit D) and the Deed of Trust for Fiscal Year 2007 (Exhibit E) will, as of the date of their first recording (“Recording Date”) encumber the City’s title to two parcels described as Parcel 2 and Parcel 3 in the legal descriptions attached as Exhibit “A” to each such Deed of Trust. Parcel 2 currently contains approximately 81 acres, and Parcel 3 currently contains less than 5 acres. The Exhibit D Deed of Trust is intended to be second in priority on the Recording Date, and the Exhibit E Deed of Trust is intended to be first in priority on the Recording Date. At any time after the Recording Date, the City may, but is not required to, process and implement a change to the configuration and size of Parcel 2 and Parcel 3 (“Parcel Change”). The purpose of the Parcel Change is to create two parcels of approximately equal value – being approximately 42 acres, and each with sufficient access to Friars Road to be reasonably usable for development in the future. SDCERS will cooperate reasonably with the City if the Parcel Change is implemented, including executing documents as reasonably required as the beneficiary of the Exhibit D Deed of Trust and the Exhibit E Deed of Trust.. After the Parcel Change is completed, SDCERS will, within twenty (20) days after written request from City, execute and deliver to the City a partial reconveyance of the lien of Exhibit D Deed of Trust from Parcel 2, and a partial reconveyance of the lien of Exhibit E Deed of Trust from Parcel 3. The purpose of such partial reconveyances is to have the Exhibit D Deed of Trust encumber City’s title to Parcel 3 only, and have the Exhibit E Deed of Trust encumber the City’s title to Parcel 2 only. The parties agree that neither the Parcel Change nor such reconveyances are a Substitution of Collateral (as defined below in Section 3a(6).).
Sample 1
Partial Reconveyance. As provided in the next sentence, Lender shall cause the trustee under the Deed of Trust to provide partial reconveyances of subdivided lots after platting of at least one hundred sixty (160) lots designated for Market Housing Units and ninety-five (95) lots designated for Affordable Housing Units and completion of all subdivision infrastructure improvements. If, but only if, no default exists by Borrower under this Note or the Deed of Trust, or with the giving of notice or passage of time, or both, such a default would exist, then Lender shall cause the Trustee to release and reconvey lots contained in future proposed Phases by Phase upon payment by Buyer of each of the three (3) installment payments as provided above, provided each future proposed Phase shall in good faith be reasonably consistent with the subdivision of the Property contemplated herein, with other approved Phases, shall tie in to existing Infrastructure Improvements, and shall as equally as reasonably possible balance acreage, developable lots, trails, paths, bridges and green space with all prior approved Phases.
Sample 1

Related to Partial Reconveyance

  • Reconveyance Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying the Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered and the charging of the fee is permitted under Applicable Law.

  • SURRENDER OF LEASE The voluntary or other surrender of this Lease by Lessee, or a mutual cancellation thereof, shall not work a merger, and shall, at the option of Lessor, terminate all or any existing subleases or sub tenancies, or may, at the option of Lessor, operate as an assignment to him of any or all such subleases or sub tenancies.

  • Assignment and Conveyance The Assignor hereby conveys, sells, grants, transfers and assigns to the Assignee all of the right, title and interest of the Assignor, as purchaser, in, to and under (a) those certain Mortgage Loans listed on the schedule (the "Mortgage Loan Schedule") attached hereto as Exhibit A (the "Mortgage Loans") and (b) except as described below, that certain Mortgage Loan Purchase Agreement (the "Purchase Agreement"), dated as of [DATE], between the Assignor, as purchaser (the "Purchaser"), and the Company, as seller, solely insofar as the Purchase Agreement relates to the Mortgage Loans. The Assignor specifically reserves and does not assign to the Assignee hereunder (i) any and all right, title and interest in, to and under and any obligations of the Assignor with respect to any mortgage loans subject to the Purchase Agreement which are not the Mortgage Loans set forth on the Mortgage Loan Schedule and are not the subject of this Agreement or (ii) the rights of the Purchaser under Section 9.04 of the Purchase Agreement. Recognition of the Company

  • Deed A Special Warranty deed conveying to Buyer fee simple title to the Real Property, subject only to the Permitted Exceptions (the “Deed”).

  • Lease Assignment To the best of Seller's knowledge, the ------------------ Tenant has not assigned its interest in the Lease or sublet any portion of the premises leased to the Tenant under the Lease.

  • Deed; Xxxx of Sale; Assignment To the extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “xxxx of sale” or “assignment” of the assets and interests referenced herein.

  • CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE SECTION 8.1. Company May Consolidate, Etc.,

  • Assignment of Lease Assignor hereby assigns, transfers, conveys and delivers to Assignee all of Assignor’s right, title and interest in, to and under the Lease Agreement.

  • Assignment of Leases and Rents There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions, each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.

  • Conveyance of Subsequent Mortgage Loans (a) The Depositor does hereby sell, transfer, assign, set over and convey to the Trustee on behalf of the Trust Fund, without recourse, all of its right, title and interest in and to the Subsequent Mortgage Loans, and including all amounts due on the Subsequent Mortgage Loans after the related Subsequent Cut-off Date, and all items with respect to the Subsequent Mortgage Loans to be delivered pursuant to Section 2.01 of the Pooling and Servicing Agreement; provided, however that the Depositor reserves and retains all right, title and interest in and to amounts due on the Subsequent Mortgage Loans on or prior to the related Subsequent Cut-off Date. The Depositor, contemporaneously with the delivery of this Agreement, has delivered or caused to be delivered to the Trustee each item set forth in Section 2.01 of the Pooling and Servicing Agreement. The transfer to the Trustee by the Depositor of the Subsequent Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is intended by the Depositor, the Master Servicer, the Trustee and the Certificateholders to constitute and to be treated as a sale by the Depositor to the Trust Fund. (b) The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey to the Trustee without recourse for the benefit of the Certificateholders all the right, title and interest of the Depositor, in, to and under the Subsequent Mortgage Loan Purchase Agreement, dated the date hereof, between the Depositor as purchaser and the Master Servicer as originator and as seller, to the extent of the Subsequent Mortgage Loans. (c) Additional terms of the sale are set forth on Attachment A hereto.