Succession to Condemnation Proceeds. If the Mortgaged Property is sold at a foreclosure sale or Lender acquires title to the Mortgaged Property, Lender will automatically succeed to all rights of Borrower in and to any Condemnation proceeds and awards prior to such sale or acquisition.
Appears in 93 contracts
Samples: Multifamily Loan and Security Agreement, Multifamily Loan and Security Agreement (New Senior Investment Group Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)
Succession to Condemnation Proceeds. If the Mortgaged Property is sold at a foreclosure sale or Funding Lender acquires title to the Mortgaged Property, Funding Lender will automatically succeed to all rights of Borrower in and to any Condemnation proceeds and awards prior to such sale or acquisition.
Appears in 5 contracts
Samples: Continuing Covenant Agreement, Continuing Covenant Agreement, Continuing Covenant Agreement
Succession to Condemnation Proceeds. If the Mortgaged Property is sold at a foreclosure sale or Lender acquires title to the Mortgaged Property, then Lender will automatically succeed to all rights of Borrower in and to any Condemnation proceeds and awards prior to such sale or acquisition.
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement
Succession to Condemnation Proceeds. If the any Mortgaged Property is sold at a foreclosure sale or Lender acquires title to the Mortgaged Property, then Lender will automatically succeed to all rights of Borrower in and to any Condemnation proceeds and awards prior to such sale or acquisition.
Appears in 3 contracts
Samples: Loan Agreement (Vinebrook Homes Trust, Inc.), Loan Agreement (Reven Housing REIT, Inc.), Loan Agreement (Front Yard Residential Corp)
Succession to Condemnation Proceeds. If the Mortgaged Property is sold at a foreclosure sale or Lender acquires title to the Mortgaged Property, Lender will xxxx automatically succeed to all rights of Borrower in and to any Condemnation proceeds and awards prior to such sale or acquisition.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (KBS Legacy Partners Apartment REIT, Inc.)
Succession to Condemnation Proceeds. If the Mortgaged Property is sold at a foreclosure sale or Lender acquires title to the Mortgaged Property, Lender will automatically succeed to all rights of Borrower in and to any Condemnation proceeds and awards prior to such sale or acquisition.. 6.12
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
