Status of Loan to Facilitate Resale. Any Mortgage given to secure a loan to facilitate the resale of a Condominium or interest therein after acquisition by foreclosure or by deed (or assignment) in lieu of foreclosure shall be deemed to be a loan made in good faith and for a value and entitled to all the rights and protections of Mortgages under this Declaration.
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Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
Status of Loan to Facilitate Resale. Any First Mortgage given to secure a loan to facilitate the resale of a Condominium or interest therein after acquisition by foreclosure Foreclosure or by a deed (or assignment) in lieu of foreclosure Foreclosure or by an assignment in lieu of Foreclosure, shall be deemed to be a loan made in good faith and for a value and entitled to all of the rights and protections of Mortgages under this Declaration.
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