Examples of Hypothecated Property in a sentence
The Borrower will not sell, transfer, lease or otherwise dispose of all or any part of the Hypothecated Property or any interest in the Hypothecated Property without the Lender's prior written approval and if approved, without such approved purchaser, transferee or lessee entering an assumption agreement in form satisfactory to the Lender.
These obligations are in addition to the Borrower's obligations in this Contract under the heading Insurance for the Hypothecated Property as far as they apply to a condominium unit.
The Borrower certifies that no part of the Hypothecated Property is or will be used for any illegal purpose, including as a brothel or a gaming house.
The Borrower certifies to the Lender that all information that the Borrower has given the Lender about the Borrower’s marital status and the Hypothecated Property when applying for the Loan are true and accurate under the laws regarding spousal property rights in the Province of Québec.
Where the Contract has been approved by the Lender on the basis of homeowner occupancy of all or part of the Hypothecated Property, the Hypothecated Property or applicable part will be occupied by the Borrower and the Borrower’s family as principal residence for the Term and each renewal term of the Contract.