Land Home Contract definition

Land Home Contract. A Contract that is secured by a mortgage or deed of ------------------ trust on real estate on which the related Manufactured Home is situated (as well as by such related Manufactured Home).
View Source
Land Home Contract means a fully amortizing installment loan agreement, retail installment sales contract or secured promissory note, and the related mortgage, deed of trust or security agreement, as may be applicable in the relevant jurisdiction and customarily used in that context, executed by an obligor and evidencing indebtedness originated in connection with Land/Home Loan financing.
View Source
Land Home Contract. Each Manufactured Home retail installment contract evidencing (i) the Obligor's obligation to pay the indebtedness evidenced by such Contract and (ii) the security interest in the related Collateral; and that is coupled with a Mortgage Loan.
View Source

Examples of Land Home Contract in a sentence

  • The Servicer may temporarily move individual Contract Files, Land Home Contract Files or, in each case, any portion thereof without notice as necessary to conduct collection and other servicing activities in accordance with its customary practices and procedures.

  • The ownership of each Contract and the contents of the related Contract File or Land Home Contract File, as applicable, and Servicing File are vested in the Trustee.

  • The Trustee shall stamp the face of each such Land Home Contract to be released to the Servicer with a notation that the Land Home Contract has been assigned to the Trustee.

  • The Trustee shall take all steps that are reasonably necessary or appropriate in order to facilitate the Servicer's access to the Land Home Contract Files during normal business hours of the Trustee or any custodian and shall cooperate fully with the Servicer in securing such access.

  • The Certificateholders by their acceptance of the Certificates, consent to the Servicer acting as custodian, and the Servicer agrees to maintain the Contract Files (other than the Land Home Contract Files) as custodian therefor.

  • The Trustee shall keep the Servicer apprised at all times after the Closing Date of the location of the Land Home Contract Files.

  • The Contract Seller has assigned all of its right, title and interest in such Land Home Contract and related Mortgage, including the security interest in the Manufactured Home covered thereby, to the Trustee.

  • The Contract has not been satisfied or ----------------- subordinated in whole or in part or rescinded, the Manufactured Home securing the Contract has not been released from the lien of the Contract in whole or in part and, in the case of a Land Home Contract, the related Mortgaged Property has not been released from the related Mortgage.

  • For purposes of the preceding sentence, the Servicer shall not be deemed to have actual knowledge that a Mortgaged Property is affected by hazardous waste unless it shall have received written notice that hazardous waste is present on such property and such written notice has been made a part of the Land Home Contract File with respect to the related Contract.

  • No Contract other than a Land Home Contract is ------------------- secured, or intended to be secured, in whole or in part by the lien of a mortgage or deed of trust creating a first lien or an estate in fee simple in the real property.


More Definitions of Land Home Contract

Land Home Contract means a Contract additionally secured by underlying real estate to which the Unit is affixed.
View Source