Mixed Use Loan definition

Mixed Use Loan. A Loan secured by a Mortgaged Property that is used primarily for residential purposes, but which is also used for non-residential purposes.
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Mixed Use Loan. Any Group 1 Mortgage Loan which is secured by a mixed residential and commercial structure.
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Mixed Use Loan means any first lien Loan secured by a mixed use property to a Mortgagor of “A” or “Alt-A” credit quality.
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Examples of Mixed Use Loan in a sentence

  • Mixed Use (Loan No. 55) The commercial uses at the related Mortgaged Property are legal conforming due to conditional use permits that have been obtained.

  • Farm Mixed Use (Loan No. 5) The Mortgage Loan documents permit the Mortgagor to rely on insurance provided by Fleet Farm Group, LLC, the sole tenant at the Mortgaged Property, provided that, among other conditions, such insurance satisfies the insurance requirements set forth in the Mortgage Loan documents (other than with respect to property and liability deductibles, which may be up to $250,000).

  • Farm Mixed Use (Loan No. 5) Fleet Farm Group, LLC, the sole tenant at the Mortgaged Property, has a right of first offer to purchase the Mortgaged Property in the event of a proposed transfer of the Mortgaged Property to a third party that is not an affiliate of the Mortgagor.

Related to Mixed Use Loan

  • Mixed-use property means an eligible property that includes three or more residential units and may also contain a commercial property component in the same building.

  • Mixed-use project means a project comprising both a qualified

  • Mixed use means land, buildings or structures used, or designed or intended for use, for a combination of non-residential and residential uses;

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • mixed-use building means a building or structure containing a residential and non- residential use other than a home occupation;

  • Loan Property means any property in which the applicable party (or a subsidiary of it) holds a security interest and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • residential land means land used or capable of being used for residential purposes (but does not include land on which there is no residential dwelling).

  • Multifamily Property means a Property improved with, and from which at least 80% of the rental income is derived from, residential apartments, which may include a Property that is a part of a Mixed-Use Project.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Single Family Property A one-unit residential property.

  • Jumbo Mortgage Loan means a Mortgage Loan that would otherwise be a Conforming Mortgage Loan secured by a first Lien Mortgage except that the original principal amount is more than the maximum Agency loan amount but not more than One Million Dollars ($1,000,000).

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Developed Land means non-vacant land that is likely to be redeveloped during the planning period.

  • Performing Mortgage Loan Any Mortgage Loan or Serviced Pari Passu Companion Loan that is not a Specially Serviced Mortgage Loan.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Securitization Property means the property described in section 10j.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Closing Date pursuant to Section 5.11(c).

  • Real Property Asset means, at any time of determination, any interest then owned by any Loan Party in any real property.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Portfolio Asset means an asset of an investment fund;

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Non-MERS Mortgage Loan Any Mortgage Loan other than a MERS Mortgage Loan.