First Mortgage Note definition

First Mortgage Note means a promissory note evidencing a loan secured by a First Mortgage.
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First Mortgage Note means the promissory note of even date herewith from Maker to First Mortgage Lender in an original principal amount of $ . Maker means all of the undersigned. Maturity Date means the earliest to occur of one or more of the following dates.
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First Mortgage Note means that certain promissory note dated as of ------------------- the date hereof made by Borrower to First Mortgage Lender in connection with the First Mortgage Loan.
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Examples of First Mortgage Note in a sentence

  • Each First Mortgage Note evidencing First Mortgage Collateral shall be endorsed by Borrower at such time as the Bank may request as follows: "Pay to the order of the Federal Home Loan Bank of Dallas." All other First Mortgage Documents and documents representing Securities, Small Farm and Agri-Business Collateral, and Other Real Estate Related Collateral shall be marked and assigned to the Bank in the foregoing manner or in such other manner as shall be specified by the Bank.

  • This loan is subordinate in right of payment to First Mortgage Note held by Bank of America, N.A. and is secured by Deed of Trust and Security Agreement.

  • The Mortgage Note Agreements shall have been amended by an amendment agreement in substantially the form of agreement heretofore delivered to you by the Company (the "First Mortgage Note Amendment") and all amendments, waivers and consents provided for therein shall have become and remain effective.

  • As used in this Deed of Trust, the term “First Mortgage Lender” shall include all successors and assigns of the First Mortgage Lender with respect to the First Mortgage Note.

  • The First Mortgage Note was transferred to Merchant’s name via Allonge dated December 8, 2011.

  • Merchant testified that he purchased the First Mortgage Note on the Greenway Property because he owned the inferior lien and wanted to foreclose.

  • On November 15, 2011, Merchant transferred funds of $54,083.47 to American Business Lending, Inc., purchasing the First Mortgage Note on the Greenway Property.

  • All of the representations and warranties made in paragraph 4 of the First Mortgage Note Amendment (as defined in paragraph 3E above) are true and correct and are incorporated herein by reference with the same effect as if set forth at length herein.

  • At least 30 days but not more than 60 days before each Redemption Date (unless another notice period shall be required by applicable law or by order of any Gaming Authority), the Issuers shall mail a notice of redemption by first class mail, postage prepaid, to each Holder whose Securities are to be redeemed (unless a shorter notice period shall be required by applicable law) to such Holder's last address as then shown upon the First Mortgage Note Register.

  • DEFAULTS UPON SENIOR SECURITIES The Company defaulted on its First Mortgage Note interest payment obligation due November 15, 1996, and has not made any subsequently scheduled interest payments.


More Definitions of First Mortgage Note

First Mortgage Note means [ ].
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First Mortgage Note means the promissory note to be executed in connection with the First Mortgage Loan.
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First Mortgage Note given to *** (the "Lender") evidencing a mortgage loan (the "First Mortgage Loan") and will perform all obligations under the mortgage made to the Lender (the "First Mortgage") on the Development of even date therewith, given as security for the First Mortgage Note, the mortgage note (the "Section 1602 Mortgage Note") given to the Authority and will perform all obligations under the mortgage made to the Authority (the "Section 1602 Mortgage") on the Development of even date therewith, given as security for the Section 1602 Mortgage Note, which are incorporated herein by reference.
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First Mortgage Note means that certain Amended and Restated Mortgage Note dated October 28, 1998 in the principal amount of $275,000,000 made by Seller in connection with the First Mortgage Loan.
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First Mortgage Note means the First Mortgage Note evidencing the First Mortgage Loan and shall include any and all amendments, modifications and extensions thereof and supplements thereto hereafter made in conformity with the First Mortgage.
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First Mortgage Note means the 11-1/2% First Mortgage Notes due 2000, as amended or supplemented from time to time, that are issued pursuant to this Indenture.
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Related to First Mortgage Note

  • Lost Mortgage Note Any Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Mortgage Note The original executed note or other evidence of indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Mortgage Notes means, collectively, the promissory notes aggregating $310,000,000 principal amount issued pursuant to the Mortgage Note Agreements, dated December 12, 1991 and executed by the Operating Partnership, together with and any loan agreement and security documents executed in connection therewith, any and all instruments given in renewal, extension, modification, or rearrangement of or in substitution or replacement for any one or more of the foregoing described promissory notes and other documents, whether given to the original purchaser thereof (or its designee) or any other Person and other documents.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Split Mortgage Loan Any Mortgage Loan that is part of a Loan Combination. The only Split Mortgage Loans that are assets of the Trust as of the Closing Date are those that have the respective loan numbers (as set forth on the Mortgage Loan Schedule) listed on the Loan Combination Table under the column heading “Loan No. for related Mortgage Loan.”

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of February 14, 2020, between the Borrower, as borrowers, and the Original Lenders, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • Subsequent Mortgage Loan Purchase Agreement The agreement between the Depositor and the Seller regarding the transfer of the Subsequent Mortgage Loans by the Seller to the Depositor.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Existing Mortgages means any mortgage, deed of trust or deed delivered pursuant to the Existing Credit Agreement including any amendments, modifications, restatements or assignments thereof.