Common use of Transfer of Mortgaged Property Clause in Contracts

Transfer of Mortgaged Property. Trustor shall not, ------------------------------ without the prior written consent of Beneficiary, directly or indirectly sell, transfer, convey, further encumber assign, grant any option, subordinate, convert to condominiums or grant any further lien or easement on all or any part of the Mortgaged Property, or enter into any agreement for any of the foregoing, whether by operation of law recorded or unrecorded, or voluntarily or involuntarily; provided, however, that if the Mortgaged Property consists of single-family lots or homes, condominiums or other residential properties to be sold, Trustor may accept sales reservations and enter into purchase and sales contracts so long as such actions are consistent with the Loan Documents, all rules and regulations of the California Department of Real Estate and all other applicable laws, rules and regulations. Trustor shall promptly notify Beneficiary in writing of any such intended event or agreement for which Beneficiary's consent may be required.

Transfer of Mortgaged Property. Trustor shall not, ------------------------------ without the prior written consent of Beneficiary, directly or indirectly sell, transfer, convey, further encumber encumber, assign, grant any option, subordinate, convert to condominiums or grant any further lien or easement on all or any part of the Mortgaged Property, or enter into any agreement for any of the foregoing, whether by operation of law recorded or unrecorded, or voluntarily or involuntarily; provided, however, that if the Mortgaged Property consists of single-family lots or homes, condominiums or other residential properties to be sold, Trustor may accept sales reservations and enter into purchase and sales contracts so long as such actions are consistent with the Loan Documents, all rules and regulations of the California Department of Real Estate and all other applicable laws, rules and regulations. Trustor shall promptly notify Beneficiary in writing of any such intended event or agreement for which Beneficiary's consent may be required.

Transfer of Mortgaged Property. Trustor shall ------------------------------ not, ------------------------------ without the prior written consent of Beneficiary, directly or indirectly sell, transfer, convey, further encumber encumber, assign, grant any option, subordinate, convert to condominiums or grant any further lien or easement on all or any part of the Mortgaged Property, or enter into any agreement for any of the foregoing, whether by operation of law recorded or unrecorded, or voluntarily or involuntarily; provided, however, that if the Mortgaged Property consists of single-family lots or homes, condominiums or other residential properties to be sold, Trustor may accept sales reservations and enter into purchase and sales contracts so long as such actions are consistent with the Loan Documents, all rules and regulations of the California Department of Real Estate and all other applicable laws, rules and regulations. Trustor shall promptly notify Beneficiary in writing of any such intended event or agreement for which Beneficiary's consent may be required.

Transfer of Mortgaged Property. Trustor shall not, without ------------------------------ without the prior written consent of Beneficiary, directly or indirectly sell, transfer, convey, further encumber encumber, assign, grant any option, subordinate, convert to condominiums or grant any further lien or easement on all or any part of the Mortgaged Property, or enter into any agreement for any of the foregoing, whether by operation of law recorded or unrecorded, or voluntarily or involuntarily; provided, however, that if the Mortgaged Property consists of single-family lots or homes, condominiums or other residential properties to be sold, Trustor may accept sales reservations and enter into purchase and sales contracts so long as such actions are consistent with the Loan Documents, all rules and regulations of the California Department of Real Estate and all other applicable laws, rules and regulations. Trustor shall promptly notify Beneficiary in writing of any such intended event or agreement for which Beneficiary's consent may be required.