First Security Instrument definition

First Security Instrument has the meaning set forth in the Borrower Security Instrument.
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First Security Instrument means the mortgage, deed of trust, security deed or other security instrument which is signed by Borrower together with this Loan Agreement and which secures the First Note.
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First Security Instrument means any Security Instrument which is not subordinate to any other lien or encumbrance, except liens for taxes or other liens which are given priority by statute.
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Examples of First Security Instrument in a sentence

  • No portion of the Project shall be leased for any commercial purpose or use without receiving HUD’s prior written approval as to terms, form and amount, except for commercial leases for support or ancillary services which are subordinate to the First Security Instrument and Borrower Security Instrument, have terms of not more than five (5) years and otherwise comply with Program Obligations.

  • This Loan Agreement shall bind the Secretary only when and if a Mortgage Insurance Certificate is issued for the First Security Instrument.

  • Notwithstanding anything to the contrary contained herein, any “Event of Default” as defined in the First Security Instrument or any of the Loan Documents shall constitute an immediate Event of Default hereunder.

  • If the Secretary makes Loan Advances to Borrower under the Second Security Instrument, the portion of the Principal Limit available for Loan Advances shall be the difference between the current Page 13 of 169/94 4230.1 REV-5 APPENDIX 68 Principal Limit and the combined Principal Balances on the First Security Instrument less accrued interest and the Second Security Instrument.

  • Borrower also has executed a First Note and First Security Instrument.

  • Consent to one such transfer or encumbrance by Mortgagee shall not be deemed a waiver to require such consent to further or future transfers or encumbrances, provided that Mortgagee’s consent to any such transfer or encumbrance under the First Security Instrument shall be deemed its consent to the same under this Security Instrument.

  • If the First Security Instrument has been assigned to the Secretary or the Secretary notifies Lender and Borrower that Loan Advances are secured by the Second Security Instrument, Lender shall have no further obligation to make Loan Advances under this Loan Agreement, unless the Secretary accepts later reimbursement by the Lender for all Loan Advances made, earned or disbursed by the Secretary.

  • All of Grantor’s right, title and interest (if any) in the tract or tracts of land described in Exhibit A attached hereto, together with all of Grantor’s right, title and interest (if any) in the “Property” as described in the First Security Instrument.

  • Consent to one such transfer or encumbrance by Beneficiary shall not be deemed a waiver to require such consent to further or future transfers or encumbrances, provided that Beneficiary’s consent to any such transfer or encumbrance under the First Security Instrument shall be deemed its consent to the same under this Security Instrument.

  • If the title evidence indicates that the property is not encumbered by any liens (except the First Security Instrument described in Paragraph 13(a), this Second Security Instrument and any subordinate liens that the Lender determines will also be subordinate to any future loan advances), ▇▇▇▇▇▇ shall request the Borrower to execute any documents necessary to protect the lien status of future loan advances.