Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold (or leased with an option to purchase) or transferred by Borrower(s) without Lender’s prior written consent, excluding (a) a transfer by devise, descent or by operation of law upon the death of a joint tenant, (b) the grant of any leasehold interest of three (3) years or less not containing an option to purchase, or (c) the creation of a lien or encumbrance subordinate to this Mortgage, Lender may, at Lender’s option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, and only if, prior to the sale or transfer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. If Lender has waived the option to accelerate provided in this Paragraph 17, and if Borrower’s successor in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower(s) from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower(s) notice of acceleration in accordance with Paragraph 14 hereof. Such notice shall provide a period of not less than fifteen (15) days from the date the notice is mailed within which Borrower(s) may pay the sums declared due. If Borrower(s) fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower(s), invoke any remedies permitted by Paragraph 18 hereof.
Transfer of the Property; Assumption. The following events shall be referred to herein as a “Transfer”; (i) a transfer or conveyance of title (or any portion thereof, legal or equitable) of the Property (or any part thereof o interest therein); (ii) the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Property (or any part thereof or interest therein); (iii) or an agreement granting a possessory right in the Property (or any portion thereof), in excess of 3 years; (iv) a sale or transfer of, or the execution of a contract or agreement creating a right to acquire or receive, more than fifty percent (50%) of the controlling interest or more than fifty percent (50%) of the beneficial interest in Borrower; and (v) the reorganization, liquidation or dissolution of Borrower. Not to be included as a Transfer are, (x) the creation of a lien or encumbrance subordinate to this Deed of Trust; (y) the creation of a purchase money security interest for household appliances; or (z) a transfer by devise, descent or by operation of the law upon the death of a joint tenant. At the election of Lender, in the event of each and every Transfer:
Transfer of the Property; Assumption a. If all or any part of the Property or an interest therein is sold or transferred by Borrower without Xxxxxx's prior written consent, excluding any exceptions set forth in the Regulatory Agreement, Lender may, at Lender's option, declare all the sums secured by this Deed of Trust to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender and the person or entity to whom the Property is to be sold or transferred reach agreement in writing that the loan may be assumed. If Xxxxxx has waived the option to accelerate provided in this paragraph and if Xxxxxxxx's successor in interest has executed a written assumption agreement accepted in writing by Xxxxxx, Xxxxxx shall release Borrower from all obligations under this Deed of Trust and the Note.
Transfer of the Property; Assumption. The following events shall be referred to herein as a “Transfer”: (i) a transfer or conveyance of title (or any portion thereof, legal or equitable) of the Property (or any part thereof or interest therein), (ii) the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Property (or any part thereof or interest therein), (iii) an agreement granting a possessory right in the Property (or any portion thereof), in excess of 3 years, (iv) a sale or transfer of, or the execution of a contract or agreement creating a right to acquire or receive, more than fifty percent (50%) of the 440722v2 Borrower Initials
Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold, leased, or transferred by Owner without Mortgagee's prior written consent, excluding (a) a transfer by devise, descent or by operation of law upon death or (b) the grant of any leasehold interest of ten (10) years or less not containing an option to purchase, Mortgagee may, at Mortgagee's option declare all the sums secured by this Mortgage to be immediately due and payable. Mortgagee shall have waived such option to accelerate if, prior to the sale, lease, or transfer, Mortgagee and the person to whom the Property is to be sold, leased, or transferred reach agreement in writing that the credit of such person is satisfactory to Mortgagee and if the party to whom the Property is transferred agrees in writing to assume Owner's obligations under the Note and this Mortgage. However, no waiver by Mortgagee of the right to accelerate the indebtedness upon sale, lease, or transfer, nor any approval by Mortgagee of the credit of the purchaser or transferee shall be deemed to be a release of the Owner of any liability under the Note or this Mortgage and the original Owner shall remain fully liable thereon.
Transfer of the Property; Assumption. If all or any part of the Trust Estate or interest therein is sold, transferred or otherwise conveyed by Trustor, including any transfer by operation of law, without Beneficiary's prior written consent, excluding:
Transfer of the Property; Assumption. If all or any part of the Property or interest therein is sold, transferred or otherwise conveyed by Trustor without Beneficiary's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust; (b) a transfer by devise, descent or by operation of law upon the death of Trustor; or (c) the grant of any leasehold interest of three years or less not containing an option to purchase, such action is a breach of this agreement, and Beneficiary may, at Beneficiary's option declare all sums secured by this Deed of Trust to be immediately due and payable, or cause the Trustee to file a notice of default. Beneficiary shall have waived such option to accelerate if, prior to the sale, transfer or conveyance, Beneficiary and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to the Beneficiary and that the interest payable on the sum secured by this Deed of Trust shall be at such rate as Beneficiary shall request, but no transfer or conveyance shall release Trustor from liability on the obligation secured hereby.
Transfer of the Property; Assumption. Except for a conveyance to the Trustee under the First Deed of Trust, if all or any part of the property herein described or an interest therein is sold or transferred by Grantor(s) without Beneficiary's prior written consent, including (a) the creation of a lien or encumbrance subordinate to this Deed of Trust, (b) the subsequent creation of a security interest for furnishings, equipment, machinery, vehicles, etc., (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant, or (d) a transfer of all or any part of the Property to any person who, at initial occupancy of the Property, does not use the Property for "low-income housing" within the meaning of the Home Program or "affordable housing" as defined by the Beneficiary, Beneficiary may, at Beneficiary's option, declare all the sums secured by this Deed of Trust to be immediately due and payable. Beneficiary shall have waived such option to accelerate if, prior to the sale or transfer, Beneficiary and the person to whom the property is to be sold or transferred reach agreement in writing that:
Transfer of the Property; Assumption. The following events shall be referred to herein as a Transfer: (i) a transfer or conveyance of title (or any portion thereof, legal or equitable) of the Property (or any part thereof or interest therein); (ii) the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Property (or any part thereof or interest therein); (iii) or an agreement granting a possessory right in the Property (or any portion thereof), in excess of three (3) years; (iv) a sale or transfer of, or the execution of a contract or agreement creating a right to acquire or receive, more than fifty percent (50%) of the controlling interest or more than fifty percent (50%) of the beneficial interest in the Borrower; and (v) the reorganization, liquidation or dissolution of the Borrower. Notwithstanding the foregoing, the following shall not be included as a Transfer: (i) the creation of a lien or encumbrance subordinate to this Deed of Trust; or (ii) a transfer by devise, descent or by operation of the law upon the death of a joint tenant; or (iii) any Transfer contemplated by the terms and conditions of the Purchase Agreement. At the election of Xxxxxx, in the event of each and every Transfer:
Transfer of the Property; Assumption
