First Trust Deed Loan definition

First Trust Deed Loan means the first mortgage obtained by Homebuyer from Lender, in an amount not to exceed that amount approved by the City Manager or his designee, which is a fixed-rate, fixed-payment, fully amortized (over a 30 year term), Federal Housing Administration (“FHA”) or conventional loan by an institutional lender, the proceeds of which are expended to acquire the Property.
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Examples of First Trust Deed Loan in a sentence

  • Such remedies under the First Trust Deed Loan include the right of foreclosure or acceptance of a deed or assignment in lieu of foreclosure, or if the mortgage is assigned to the Secretary of the United States Department of Housing and Urban Development.

  • The City Deed of Trust, and the Declaration, shall be subordinate to the lien/deed of trust securing the First Trust Deed Loan on the Property held by the Lender and shall not impair the rights of Lender, or Lender’s assignee or successor in interest, to exercise its remedies under the First Trust Deed Loan in the event of default under the First Trust Deed Loan by Homebuyer.

  • City shall cause a Request for Notice to be recorded on the Property immediately subsequent to the recordation of the First Trust Deed Loan or mortgage requesting a statutory notice of default as set forth in California Civil Code Section 2924b.

  • Holder may, at its option, assign this Note or its right to receive payment hereunder to a non-profit entity without obtaining the consent of Maker or the holder of the First Trust Deed Loan, or to a profit-making entity with the prior written consent of the holder of the First Trust Deed Loan.

  • The Deed of Trust shall be subordinate only to the lien securing Lender’s First Trust Deed Loan and to the Declaration (and, with the express approval of the City Manager, a subsequent deed of trust securing a Conforming Senior Loan).

  • Homebuyer shall obtain his/her/their First Trust Deed Loan for the purchase of the Property from a Lender.

Related to First Trust Deed Loan

  • Master Trust Deed means the Master Trust Deed dated 8 October 1997 between Party B and the Manager, as amended from time to time.

  • Supplemental Interest Trust Trustee ▇▇▇▇▇ Fargo Bank, N.A., a national banking association, not in its individual capacity but solely in its capacity as supplemental interest trust trustee, and any successor thereto.

  • 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.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • First trust means a trust over which an authorized fiduciary may exercise the decanting power.