Recordation and Title Policy Sample Clauses

Recordation and Title Policy. All Deeds of Trust on the Property ---------------------------- shall have been duly executed by Borrower and Lender shall have received the title policy or policies, or a marked commitment(s) in form and substance acceptable to Lender evidencing the title company's irrevocable commitment to issue the insurance therein described, which must have a liability in the amount of the Loan, with allocated loan value for each Property (based on 100% of the lesser of the Historical Cost or Adjusted Appraised Value for aggregated policies and 125% of the lesser of the Historical Cost or Adjusted Appraised Value for non-aggregated policies), as determined by Lender in its sole discretion, insuring, as of the effective date of such title policy, that fee simple title to the Property is vested in Borrower, and that the lien of such Deeds of Trust are a valid first priority lien on the Property, subject only to the Permitted Encumbrances acceptable to Lender in its sole discretion, and containing the following endorsements, to the extent available by law in a given jurisdiction (the "Endorsements"):
Sample 1
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Recordation and Title Policy. Lender shall have received the title policy or title policies, insuring the lien of each such Deed of Trust in the amount of the Loan or such other amount as Lender may require, without standard exceptions, and with the Endorsements (defined herein) (collectively, the "Title Policy") or a "Marked Commitment" (as defined in the Escrow Letter of even date herewith) in form and substance acceptable to Lender, issued by Chicago Title Insurance Company (the "Title Company") which must have a liability in the amount of the Loan, if available, insuring, as of the effective date of such Title Policy, that fee simple title to the Mortgaged Properties is vested in Borrower and that the lien of such Deed of Trust is a valid first priority lien on such Parcel(s), subject only to the Permitted Encumbrances in respect of such Parcel, and subject to an Aggregation Agreement ("Aggregation Agreement"), if available, between Lender and Title Company, in form and substance satisfactory to Lender, and containing the following Endorsements to the extent available in the applicable jurisdiction:
Sample 1
Recordation and Title Policy. Lender shall have received the title policy or title policies, insuring the lien of the Deed of Trust in the amount of the Loan or such other amount as Lender may require, without standard exceptions, and with the Endorsements (defined herein) (collectively, the "Title Policy") or a "Marked Commitment" in form and substance acceptable to Lender, issued by the Title Company which must have a liability in the amount of the Loan, if available, insuring, as of the effective date of such Title Policy, that fee title to the Land is vested in Borrower, and that the lien of the Deed of Trust are a valid first priority lien on the Property, subject only to the Permitted Encumbrances, and subject to an Aggregation Agreement ("Aggregation Agreement"), if available, between Lender and Title Company, in form and substance satisfactory to Lender, and containing the following Endorsements to the extent available in the applicable jurisdiction:
Sample 1

Related to Recordation and Title Policy

  • Title Policy The Title Company shall be prepared to issue, upon payment of the title premium at its regular rates, a title policy in the amount of the Purchase Price, insuring title to the Property is vested in the Purchaser or its designee or assignee, subject only to the Permitted Exceptions, with such endorsements as shall be reasonably required by the Purchaser.

  • Title Policies The Title Company shall be prepared, -------------- subject only to payment of the applicable premium, endorsement and related fees and delivery of all conveyance documents in recordable form, to issue a title insurance policy to Purchaser, subject only to the Permitted Encumbrances, in accordance with Section 3.3. -----------

  • Completion and Recordation of Assignments of Mortgage As soon as practicable after the Closing Date, the Servicing Transfer Date or the date on which a Qualifying Substitute Mortgage Loan is delivered pursuant to Section 2.05 of the Trust Agreement, as applicable (but in no event more than 90 days thereafter except to the extent delays are caused by the applicable public recording office), the Servicer shall cause the endorsements on the Mortgage Note (if applicable), and the Assignments of Mortgage (subject to Section 3.01(a)) to be completed in the name of the Trustee (or MERS, as applicable).

  • Recordation Each Grantor authorizes and requests that the Register of Copyrights, the Commissioner for Patents and the Commissioner for Trademarks and any other applicable government officer record this IP Security Agreement.

  • Recordation of Assignments of Mortgage To the extent permitted by applicable law, each of the Assignments of Mortgage is subject to recordation in all appropriate public offices for real property records in all the counties or their comparable jurisdictions in which any or all of the Mortgaged Properties are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected at the Seller's expense in the event recordation is either necessary under applicable law or requested by the Purchaser at its sole option.

  • Perfection Upon Recordation Mortgagor acknowledges that Mortgagee has taken all actions necessary to obtain, and that upon recordation of this Mortgage Mortgagee shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases. Mortgagor acknowledges and agrees that upon recordation of this Mortgage Mortgagee’s interest in the Rents shall be deemed to be fully perfected, “xxxxxx” and enforced as to Mortgagor and to the extent permitted under applicable law, all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Mortgage, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

  • Completion and Recordation of Assignment of Mortgage To the extent permitted by applicable law, each of the Assignments of Mortgage is subject to recordation in all appropriate public offices for real property records in all the counties or other comparable jurisdictions in which any or all of the Mortgaged Properties are situated, and in any other appropriate public recording office or elsewhere. The cost of any such recordation by the Servicer shall be borne by the Seller.

  • Recordation of Lease Tenant shall not record or file this Lease (or any memorandum hereof) in the public records of any county or state.

  • Title Insurance The Mortgage Loan is covered by an ALTA lender's title insurance policy, or with respect to any Mortgage Loan for which the related Mortgaged Property is located in California a CLTA lender's title insurance policy, or other generally acceptable form of policy or insurance acceptable pursuant to Seller's Underwriting Guidelines and each such title insurance policy is issued by a title insurer acceptable to prudent lenders in the secondary mortgage market and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring the originator, its successors and assigns, as to the first (with respect to a First Lien Loan) or second (with respect to a Second Lien Loan) priority lien of the Mortgage in the original principal amount of the Mortgage Loan (or to the extent a Mortgage Note provides for negative amortization, the maximum amount of negative amortization in accordance with the Mortgage), subject only to the Permitted Exceptions, and in the case of Adjustable Rate Mortgage Loans, against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment to the Mortgage Interest Rate and Monthly Payment. Where required by state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender's title insurance policy affirmatively insures ingress and egress, and against encroachments by or upon the Mortgaged Property or any interest therein. The Seller (or its predecessor in interest), its successors and assigns, are the sole insureds of such lender's title insurance policy, and such lender's title insurance policy is valid and remains in full force and effect and will be in force and effect upon the consummation of the transactions contemplated by this Agreement. No claims have been made under such lender's title insurance policy, and no prior holder of the related Mortgage, including the Seller, has done, by act or omission, anything which would impair the coverage of such lender's title insurance policy, including without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by the Seller;

  • Mortgage Submitted for Recordation The Mortgage either has been or will promptly be submitted for recordation in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located.

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