Examples of Mortgagee Policy in a sentence
The Borrower shall pay to or reimburse the Lender for any costs incurred in extending the term of the Title Binder or, if no such extension of the term of the Title Binder is then available pursuant to applicable regulations, any costs incurred in obtaining a Mortgagee Policy of Title Insurance (Form T-2) to replace the Title Binder.
A standard Texas promulgated form Mortgagee Policy of Title Insurance (the “Title Policy”), together with any endorsements which Lender may require, insuring Lender, in the principal amount of the Loan, of the validity and the priority of the lien of the Deed of Trust upon the Property and the Improvements, subject only to matters approved by Lender in writing.
The Title Insurance Company shall deliver to the Lessor an Owner’s Policy of Title Insurance and an alternative Mortgagee Policy of Title Insurance (insuring the lien of the mortgage contained in the Memorandum of Lease) issued to the Lessor and its successors and assigns including the Administrative Agent, in each case, reasonably acceptable in form and substance to the Administrative Agent and each of the Participants (collectively, the “Title Policy”).
Purchaser shall pay, on the Closing Date, all recording costs, all escrow fees and other customary charges of the Title Company and Escrow Agent and the title insurance premium for the Mortgagee Policy (as defined in Section 6.6 (f)).
Notwithstanding the foregoing, should Purchaser choose not to seek Financing for the initial acquisition, but rather to defer the Financing until after Closing, then at Closing Seller agrees to pay into escrow all costs it would be otherwise obligated to pay at Closing, including, but not limited to the premium for the Mortgagee Policy and related endorsements and the cost of appraisals.
In addition, such description shall be used in the Owner Policy of Title Insurance, and in any Mortgagee Policy of Title Insurance and any mortgage to be delivered to any lender at Closing.
Atrium II/C961590000 In 1988, Lawyers Title Insurance accepted facultative reinsurance from Title USA-NY (now Fidelity) on a $13,825,274 Mortgagee Policy.
The Title Insurance Company shall deliver to Lessor, a Leasehold Policy of Title Insurance and an alternative Mortgagee Policy of Title Insurance (insuring the lien of the mortgage contained in the Memorandum of Lease) issued to the Lessor and its successors and assigns including Administrative Agent, in each case, reasonably acceptable in form and substance to the Administrative Agent and each of the Participants (collectively, the “Title Policy”).
Purchaser shall pay, on the Closing Date, all premiums for any modification or endorsement to the Owner's Policy of Title Insurance requested by Purchaser, including amendment of the survey exception or the T-19 endorsement, all recording costs, all costs of Purchaser's financing, including the premium for any Mortgagee Policy of Title Insurance, and one-half (1/2) of any escrow fees charged by the Title Company.
Borrower shall, at its expense, have provided Lender with a Mortgagee Title Policy Binder Interim Construction Loan providing for the issuance of a Mortgagee Policy of Title insurance insuring the lien of the Master Deed of Trust to be a first lien upon the Property subject only to such other exceptions as Lender may expressly approve in writing contingent only payment of the premium coat for the policy.