City Note definition

City Note has the meaning set forth in Paragraph D of the Recitals.

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City Note. Recital E

City Note means the Amended and Restated Promissory Note evidencing the Borrower’s repayment obligations in respect of the City Loan.

Examples of City Note in a sentence

• The City may not consent to any amendment or waiver of the terms of the City Loan Agreement or the City Note, if such amendment or waiver could reasonably be deemed to materially adversely affect the County, without the County's prior written approval, which the County may withhold in its sole discretion.

• Borrower shall repay the City Loan pursuant to the terms of the City Loan Agreement and the City Note.

• If the Inheriting Owner qualifies as an Income Eligible Household, he or she shall succeed to the Owner's interest and obligations under this Agreement, the City Note, and the City Deed of Trust and new documents shall be executed between the Inheriting Owner and the City and recorded against the Home.

• This Agreement shall not diminish or affect the rights of the City under the City Note and the City Deed of Trust.

• Further, this Deed of Trust and the City Note are expressly subordinate to the First Mortgage Deed of Trust and the First Mortgage loan documents.

More Definitions of City Note

City Note means the promissory note in the amount of the City Loan, substantially in the form attached hereto as Exhibit E.

City Note. Recital G, page 2

City Note means the amended and restated promissory note executed by ▇▇▇▇▇▇▇▇ in favor of the City in the original principal amount of the City Loan Amount, in form and substance acceptable to the City.

City Note means the Promissory Note evidencing the City Loan in substantially the form attached hereto as Attachment No. 8, to be dated as of the Closing Date, executed by Borrower in favor of the City.

City Note means the promissory note, in the form provided by the City, executed by each buyer of an Affordable Unit at the time of purchase of the Affordable Unit.

City Note means a promissory note executed by Owner in favor of the City in the principal amount equal to the difference between the Market Value of a Unit calculated at the time Owner acquired a Unit and (a) the Initial Price, in the case of the first Owner, or (b) the Eligible Buyer Purchase Price, in the case of subsequent Owners, plus a contingent deferred amount equal to the City’s Shared Appreciation.

City Note shall have the meaning ascribed thereto in the seventh recital to this Loan Agreement.