First Deed of Trust definition

First Deed of Trust a mortgage of approximately $2,500,000.00 construction loan and $2,500,000.00 permanent loan with US Bank, N.A. shall be in first lien position

First Deed of Trust means a mortgage, deed of trust, or other instrument which: a. constitutes or is equivalent to a first lien or encumbrance on the Property, subject only to the Permitted Encumbrances, and b. will allow the Person secured thereby, directly or by a trustee or other Person, to foreclose on the Property (by power-of-sale, judicially or otherwise) upon default thereunder or under the loan secured by such instrument and thereby acquire title to the Property, subject only to the Permitted Encumbrances.

First Deed of Trust means that deed of trust, senior in priority to any other deed of trust, that is placed on the Assisted Unit as security for any first mortgage loan obligation, with a Qualified Homebuyer as trustor and a First Lender as beneficiary, if the loan is used for the purchase of the Assisted Unit. Upon subordination of this Declaration and the Performance Deed of Trust, the lien of the First Deed of Trust provided by the First Lender may become a lien against the Assisted Unit that is in a senior position to the lien of this Declaration.

Examples of First Deed of Trust in a sentence

• A certificate from an insurance company indicating that the Borrower is covered by general liability and worker's compensation insurance shall be approved by the City and as required by the First Deed of Trust Lender and equity investor.

• The terms and provisions of the First Deed of Trust are paramount and controlling, and they supersede any other terms and provisions hereof in conflict therewith.

• The documents evidencing or securing the First Deed of Trust Loan are collectively referred to herein as the First Deed of Trust Loan Documents.

• This Note may at Lender’s option be secured by a first Deed of Trust and Security Agreement (herein called the First Deed of Trust) encumbering certain real property identified in the First Deed of Trust.

• He/she must sign the First Deed of Trust and the Tax Exempt Financing Rider - Form #580.2. The applicant and their estranged spouse will be required to sign the MHDC Waiver of Marital Rights Affidavit, Forms #550-1 and #550-2 attesting they are separated aand do not plan to live together in the property.

More Definitions of First Deed of Trust

First Deed of Trust means a deed of trust or mortgage which is recorded senior to any other deeds of trust or liens against the Property to secure a loan made by an Institutional Lender used to purchase the Property by an Eligible Buyer. The “First Deed of Trust” does not include any subsequent deeds of trust for refinancing or increasing the debt encumbrance on the property, or any deed of trust made by a person who is not an Eligible Buyer.

First Deed of Trust means a deed of trust securing repayment of

First Deed of Trust means the First Deed of Trust and Assignment of Rents, Security Agreement and Fixture Filing, dated as of August 23, 1988, by and among 3055, as Trustor, Masox-XxXxxxxx Xxxancial Corporation, as Trustee, and Variable, as Beneficiary, recorded as Series No. 88-215552, in Alameda County, State of California

First Deed of Trust means the Deed of Trust dated _______, executed by Maker encumbering the Property.

First Deed of Trust means the First Deed of Trust and Assignment of Rents (Construction Trust Deed) with respect to the Project, of even date herewith, executed by the Company, as trustor, to the Title Company as trustee, for the benefit of the Issuer, as beneficiary.

First Deed of Trust means that certain senior deed of trust in favor of with respect to a $ loan made to the Borrower to finance the acquisition and/or construction of the Project.]

First Deed of Trust. Section 21.1. “HCD Laws/Regulations” – Recital D. “Increased Base Price” - Section 12.1. “Ineligible Purchaser” – Section 10.b. “Initial Subsidy” – Section 13.2.‌‌‌‌