Borrower Security Instrument definition

Borrower Security Instrument means that certain Healthcare [Mortgage, Deed of Trust, Deed to Secure Debt, or other designation], Assignment of Leases, Rents and Revenue, and Security Agreement, made by Borrower, relating to the Project.

Borrower Security Instrument means that certain Supplemental Healthcare [Mortgage, Deed of Trust, Deed to Secure Debt, or other designation], Assignment of Leases, Rents and Revenue, and Security Agreement, made by the Borrower, relating to the Project.

Borrower Security Instrument means that certain first priority Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, dated as of the date hereof, executed and delivered by Borrower in favor of Lender as security for the payment of the Debt and the performance of the Other Obligations and encumbering the Property described therein, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

Examples of Borrower Security Instrument in a sentence

• Any capitalized term or word used herein but not defined shall have the meaning given to such term in the Borrower Security Instrument.

• The objective of the Residential Energy Audit Program (Program) is to provide homeowners with trusted information about a home’s energy performance and to provide them with a roadmap/pathway/report to making sound energy efficiency and clean energy investments into their homes.

• It is understood and agreed that no judgment or decree which may be entered on any debt secured or intended to be secured by the Borrower Security Instrument shall operate to abrogate or lessen the effect of this Agreement, but that this Agreement shall continue in full force and effect until the payment and discharge of the Obligations.

• Borrower shall make promptly all payments, including any deposits to required reserves, due under the Loan Documents, including without limitation the Note and the Borrower Security Instrument.

• At the request of HUD, Borrower shall promptly furnish or cause to be furnished operating budgets and occupancy, accounting and other reports (including credit reports) and give or cause to be given specific answers to questions relative to income, assets, liabilities, contracts, operation, and conditions of the Project and the status of the Borrower Security Instrument.

• Borrower shall take appropriate measures to prevent, and shall not engage in or knowingly permit, any illegal activities at the Mortgaged Property including those that could endanger residents or visitors, result in damage to the Mortgaged Property, result in forfeiture of the Mortgaged Property, or otherwise impair the lien created by the Borrower Security Instrument or Lender’s interest in the Mortgaged Property.

• This Agreement shall bind, and the benefits shall inure to, Borrower, its heirs, legal representative, executors, administrators, successors in office or interest, and assigns, and to HUD and HUD’s successors, so long as the Contract of Insurance continues in effect, and during such further time as HUD shall be Lender, holder, coinsurer, or reinsurer of the Borrower Security Instrument, or obligated to reinsure the Note or the Borrower Security Instrument.

• Until a default is declared under this Agreement, a revocable license is granted to Borrower to collect and retain such Rents, charges, fees, carrying charges, Project accounts, security deposits, and other revenues and receipts, but upon an Event of Default under this Agreement or under the Borrower Security Instrument, such revocable license is automatically terminated.

• Upon satisfaction of the Note, as evidenced by the discharge or release of the Borrower Security Instrument, this Agreement shall automatically terminate.

• In the event of a notification of default under the terms of the Borrower Security Instrument pursuant to which the Indebtedness has been accelerated, a written notification by HUD to Borrower of a violation of this Agreement, or at such other times as determined solely by HUD, HUD may direct the application of the balance in such account to the amount due on the Indebtedness as accelerated or for such other purposes as may be determined solely by HUD.