Common Contracts
2 similar Mortgage Loan Purchase Agreement contracts by CSAIL 2017-C8 Commercial Mortgage Trust, CSMC 2016-NXSR Commercial Mortgage Trust
CREDIT SUISSE COMMERCIAL MORTGAGE SECURITIES CORP., PURCHASER and BENEFIT STREET PARTNERS CRE FINANCE LLC, SELLER MORTGAGE LOAN PURCHASE AGREEMENT Dated as of June 21, 2017 Series 2017-C8Mortgage Loan Purchase Agreement • June 29th, 2017 • CSAIL 2017-C8 Commercial Mortgage Trust • Asset-backed securities • New York
Portfolio – Tabor Ridge and Laurel (Loan No. 16) Mortgaged Properties are legal non-conforming as to use as the related zoning codes no longer permit multifamily housing. (A) With respect to the Mortgaged Property identified as Laurel, if any non-conforming structure is damaged or destroyed in excess of the greater of (i) its assessed value or (ii) 50% of its market value, the structure may be restored only in accordance with the current zoning code. (B) With respect to the Mortgaged Property identified as Tabor Ridge, if any non-conforming structure is damaged or destroyed less than the greater of (i) 60% of its replacement cost or (ii) its fair market value, the structure may be restored to its prior use provided restoration is completed within one year from the date of destruction or damage. If any non-conforming structure is damaged or destroyed in excess of the greater of (i) 60% of its replacement cost or (ii) its fair market value, the structure may be restored only in accordanc
CREDIT SUISSE COMMERCIAL MORTGAGE SECURITIES CORP., PURCHASER and UBS AG, SELLER MORTGAGE LOAN PURCHASE AGREEMENT Dated as of December 1, 2016 Series 2016-NXSRMortgage Loan Purchase Agreement • December 22nd, 2016 • CSMC 2016-NXSR Commercial Mortgage Trust • Asset-backed securities • New York
difference between the actual deductible and the maximum deductible permitted by the Mortgage Loan documents). The amount of these deductibles may be considered higher than customary. The Mortgage Loan documents permit insurance through a syndicate of insurers, provided that at least seventy-five percent (75%) of the coverage (if there are four (4) or fewer members of the syndicate) or at least sixty percent (60%) of the coverage (if there are five (5) or more members of the syndicate) is with carriers having a claims paying ability rating of “A” or better by S&P, and the balance of the coverage is, in each case, provided by insurers with a claims paying ability rating of “BBB” or better by S&P. If certain reciprocal easement agreements or major leases contain provisions requiring restoration, the lender is required to make proceeds available to the Mortgagor for restoration, even if the conditions to restoration in the Mortgage Loan documents have not been satisfied.
