Purchase Money Mortgage. If the proceeds of the Indebtedness are used by Borrower to pay all or a part of the purchase price of the Mortgaged Property, this Instrument is declared to be a purchase money mortgage.
Appears in 7 contracts
Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement, Multifamily Mortgage, Assignment of Rents and Security Agreement, Multifamily Mortgage, Assignment of Rents and Security Agreement (Preferred Apartment Communities Inc)
