Foreclosure Conveyance definition
Examples of Foreclosure Conveyance in a sentence
If Lender shall become the owner of or acquire an interest in or rights to the Property pursuant to a Foreclosure Conveyance, the foregoing indemnification obligation shall survive such Foreclosure Conveyance.
If Lender shall become the owner of or acquire an interest in or rights to the Project by a Foreclosure Conveyance, the foregoing indemnification obligation shall survive such Foreclosure Conveyance.
If Lender shall become the owner of or acquire an interest in or rights to the Project pursuant to a Foreclosure Conveyance, the foregoing indemnification obligation shall survive such Foreclosure Conveyance.
To qualify for a year’s step advancement , a unit member must be in paid status at least 75% of the year and work at least 75% of the year.
For purposes of this clause, a condition in existence on or before the date of the Foreclosure Conveyance will be deemed to be an Hazardous Materials Claim on or before that date even if the condition becomes an Hazardous Materials Claim as a result of a change in Hazardous Materials Laws that becomes effective after that date.
If Lender shall become the owner of or acquire an interest in or rights to the Project pursuant to a Foreclosure Conveyance, the foregoing indemnification obligation shall survive such Foreclosure Conveyance with respect to matters arising prior to the date of such Foreclosure Conveyance.
The initial monthly Base Rent shall be increased annually on the anniversary date of the Foreclosure Conveyance by two and one-half percent (2.5%).
However, no separate subordination agreement is required for this Agreement to be subordinate to the First Deed of Trust; and no separate agreement is required for Member to be obligated to honor this Agreement and to recognize Mortgage Lender or its successors or assigns who becomes the new owner of the Park as a result of a Foreclosure Conveyance, as Member’s landlord with the right to collect rent, manage the Park and enforce this Agreement and the Rules and Regulations.
Borrower will have the burden of proving that any Hazardous Materials Claim first arose after the date of the Foreclosure Conveyance, and if Borrower is unable to satisfy that burden of proof, then Borrower’s obligations hereunder with respect to that Hazardous Materials Claim will be effective and will not be reduced or diminished.
Further, if required by Mortgage Lender or any of its successors or assigns who becomes the new owner of the Park by any Foreclosure Conveyance, Member will execute a separate agreement stating that Member recognizes such new owner as Member's landlord with the right to manage the Park and enforce this Agreement and the Rules and Regulations.