Mortgaged Property Owner definition
Examples of Mortgaged Property Owner in a sentence
The absence of any action to enforce any of Lender’s rights under the Loan Documents or Mortgage Lender’s rights under the Mortgage Loan Documents, or available to Lender or Mortgage Lender at law, equity or otherwise, to recover any judgment against Borrower or any Mortgaged Property Owner or to enforce a judgment against Borrower or any Mortgaged Property Owner under any of the Loan Documents or Mortgage Loan Documents, as the case may be.
Any change in the laws, rules or regulations of any jurisdiction or any present or future action of any Governmental Authority or court amending, varying, reducing or otherwise affecting, or purporting to amend, vary, reduce or otherwise affect, any of the obligations of any Borrower under any of the Loan Documents, any Mortgaged Property Owner under the Mortgage Loan Documents or Guarantor under this Guaranty.
All of the representations and warranties of Borrower and Mortgaged Property Owner as set forth in this Agreement shall survive the making of this Agreement and the full repayment of the Loan; accordingly, in the event of any claims against Lender, resulting in the breach of any of the foregoing warranties and representations, Borrower and Mortgaged Property Owner shall and hereby agrees to indemnify Lender for any such claims notwithstanding the full repayment of the Loan.
Mortgaged Property Owner has good, marketable and insurable fee simple title to the real property comprising part of the Mortgaged Property and good title to the balance of the Mortgaged Property, free and clear of all Liens whatsoever except the Permitted Exceptions.
Each of Borrower and Mortgaged Property Owner agrees that all of the representations and warranties set forth in this Article III and elsewhere in this Agreement are true as of the date hereof, will be true at the time of the Initial Advance and, except for matters which have been disclosed by Borrower or Mortgaged Property Owner and approved by Lender in writing, at all times thereafter.
Borrower shall have furnished to Lender a survey of the Mortgaged Property by a surveyor registered and licensed by the State of Florida, showing a state of facts acceptable to Lender’s counsel, certified to Mortgaged Property Owner, Lender and the title insurance company that will be issuing the mortgagee title insurance policy in Lender’s favor.
Borrower and Mortgaged Property Owner have the power to enter into and perform this Agreement and the Loan Documents, to the extent that each has executed such documents, and this Agreement does, and the Loan Documents when duly executed and delivered will, constitute the legal, valid and binding obligations of Borrower and Mortgaged Property Owner enforceable in accordance with their respective terms.
In addition, at Lender’s request, Borrower and Mortgaged Property Owner shall reaffirm such representations and warranties in writing prior to each disbursement hereunder.
Mortgaged Property Owner has not committed any act which may give any Governmental Authority the right to cause Mortgaged Property Owner to forfeit the Mortgaged Property or any part thereof or any monies paid in performance of Mortgaged Property Owner’s obligations under any of the Loan Documents.
Mortgaged Property Owner has no knowledge of any violations or notices of violations of any Legal Requirements relating to Mortgaged Property Owner and/or the Mortgaged Property.