Mortgage funds definition

Mortgage funds means the mortgage insurance fund created by section 122.561 of the Revised Code, and the housing guarantee fund created by division (D) of section 128.11 of the Revised Code.

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Mortgage funds or "Mortgage Funding" shall mean traditional institutional type mortgage loan financing.

Mortgage funds shall have the meaning given to the term “Funds” in the Building Loan Agreement.

Examples of Mortgage funds in a sentence

The Mortgage funds shall be used to retire the Construction Loan and if there are any funds remaining the Mortgage funds shall be used to retire any outstanding hard construction costs including labor and materials.
To the extent permitted in the applicable Mortgage, funds in the Reserve Accounts to the extent invested may be only invested in Permitted Investments in accordance with the provisions of Section 3.06.
The Partnership will loan to Redwood Mortgage funds in an amount equal to the sales commissions.
The Partnership will loan to Redwood Mortgage funds in an amount equal to the sales (See "PLAN OF DISTRIBUTION - Formation Loan").
To the extent permitted in the applicable Mortgage, funds in the Reserve Accounts may be invested in Permitted Investments in accordance with the provisions of Section 3.06.
The Mortgage funds shall be used to retire any outstanding hard construction costs including labor and materials.
The Partnership will loan to Redwood Mortgage funds in an amount equal to the sales commissions (not including any Continuing Servicing Fees) and all amounts payable in connection with unsolicited sales by the General Partners, as a Formation Loan.
In the event of a sale or transfer of title, Mortgage funds must be repaid.
Either (1) Borrower and every other holder of the Mortgage, if any, were authorized to transact and do business in the jurisdiction in which the Mortgaged Properly is located at all times when such party held the Mortgage; or (2) the loan of Mortgage funds, the acquisition of the Mortgage (if Borrower was not the original lender), the holding of the Mortgage and tale transfer of the Mortgage did not constitute the transaction of business or the doing of business in such jurisdiction.
No repayment shall be required and no interest shall accrue to the principal amount of Mortgage funds provided by the Hennepin County HRA and secured by the loan documents, prior to Ten(10) year loan term from the date of execution of loan documents by the Borrower, so long as the Subject Property remains a single family unit occupied by the Borrower, and so long as none of the events described above in paragraph 2.B occur.

More Definitions of Mortgage funds

Mortgage funds means, as the case may be, one or both of the NWM Primary Mortgage Fund and the NWM Balanced Mortgage Fund. “Net Asset Value” or “NAV” means at any particular time, in respect of a Fund, the net value of the assets of that Fund at such time determined in accordance with the DOT. “Net Asset Value Per Unit” means at any particular time, in respect of the Units of a Fund, the net asset value of such Units determined in accordance with the DOT. “Net Realized Capital Gains” means with respect to a particular fiscal year of a Fund, the realized capital gains of the Fund for such year, less the capital losses of the Fund for such year, determined by the Auditor in accordance with the DOT. “Net Income” means with respect to a particular fiscal year of a Fund, the net income of the Fund determined by the Auditor in accordance with the DOT. “Person” means any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency, government or governmental agency, authority or entity however designated or constituted. “Referral Fee” has the meaning set out in Item 7. “Sub Advisor” means a Person retained by the Manager on behalf of a Fund for the purpose of providing advice and making investment decisions with respect to the assets of one or more of the Funds. “Subscriber” means a Person who subscribes for Units of one or more of the Funds. “Subscription Agreement” means a subscription agreement for Units in such form (or forms if there is more than one) as the Manager may prescribe from time to time. “Tax Act” means the Income Tax Act (Canada) and the regulations promulgated thereunder, as amended from time to time. “Third Party Investment Funds” has the meaning set out in Item 2.8. “Trailer Fees” means fees paid by the Manager on an ongoing basis to investment dealers in respect of Subscribers who do not have Fee for ServiceAccounts to compensate them for services rendered to their clients.