Examples of Mortgage Paper in a sentence
The Mortgage Paper mentioned herein secures and enforces the payment of the Obligations including but not limited to all sums advanced by Bank to Borrower pursuant to the Note.
Bank itself may at any time after the termination of Borrower’s license to collect payments due under any Mortgage Paper pledged to Bank, so notify the account debtors and/or collect payments due under such Mortgage Paper.
Bank shall have no duty as to the collection or protection of the Mortgage Paper nor as to the preservation of any rights pertaining thereto.
Upon the occurrence of an Event of Default Bank will have the ability to take over and control all servicing rights for the Mortgage Paper pledged to Bank.
Following pages contain a full description of the EDIFACT DESADV D97.A message as implemented by Shape.
In addition, Borrower will certify in writing to Bank from time to time as and when requested by Bank that the Eligible Mortgage Paper included in the calculation of the Borrowing Base meets the criteria set forth in Section 1.06 of this Agreement for inclusion in the Borrowing Base.
Upon request of Lender, Borrower shall deliver to Lender at the time any Mortgage Paper is assigned to Lender by Borrower as provided in Section 6.14, true and correct copies of any and all lot purchase contracts or other purchase contracts relating to the purchase and sale of all or any part of the real property serving as collateral security for such Mortgage Loan, together with true and correct copies of any modifications or amendments to such purchase contracts.
If any appraisal is required or desired by Bank with respect to any property covered by a Mortgage which constitutes part of Eligible Mortgage Paper, Borrower shall, within thirty (30) days following a request therefor by Bank, furnish to Bank (at Borrower’s sole cost and expense) an appraisal with respect to such property in form, substance and by an appraising firm acceptable to Bank.
In order to induce Bank to enter into this Agreement, Borrower has represented to Bank that Borrower will promptly furnish Bank with all information needed/requested by Bank from time to time to track each item of Mortgage Paper that is pledged to Bank ("Item"), viz.
Upon request of Lender, Borrower shall deliver to Lender at the time any Mortgage Paper is assigned and pledged to Lender by Borrower as provided in Section 6.14, all insurance policies and certificates of insurance necessary to evidence that the improvements described in each Mortgage have been insured against loss by fire and other casualty in the full amount of the Mortgage Loan secured by such Mortgage and Lender is shown as a loss payee in such policies, as its interests may appear.