Mortgagee Title Policy definition

Mortgagee Title Policy. As defined in the Security Instrument.
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Mortgagee Title Policy means the policy of title insurance that the Title Company issued to Borrower (as successor-in-interest to Underlying Initial Lender), as lender, at the time of origination of the Collaterally Assigned Loan, as the same may be amended from time to time in accordance with the terms hereof.
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Mortgagee Title Policy has the meaning ascribed to such term in Section 10.5(b).
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Examples of Mortgagee Title Policy in a sentence

  • Borrower shall have furnished Lender with the Mortgagee Title Policy.

  • If the underwriter issuing the Mortgagee Title Policy becomes insolvent or is placed in receivership or for any other reason such Policy becomes unenforceable, Borrower shall furnish Lender, at Borrower's expense, another mortgagee title insurance policy in the amount and in substitution for the original Mortgagee Title Policy and meeting the above requirements.

  • The Collaterally Assigned Loan is insured under the Mortgagee Title Policy.

  • The Mortgagee Title Policy is in full force and effect and all premiums thereon have been paid.

  • Borrower shall furnish to Lender, at Borrower's expense, a mortgagee title insurance policy (herein called the "Mortgagee Title Policy") showing Lender as the insured thereunder, in the amount of the Loan and in form and substance and written by the Title Company on behalf of an underwriter reasonably satisfactory to Lender insuring a valid first lien upon the Premises by virtue of the Deed of Trust and containing no exceptions except those specifically waived in writing by Lender.

  • A Mortgagee 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 Improvements, subject only to matters approved by Lender in writing and including a Rule P-8(b)(1) exception prior to completion of the Improvements.

  • Buyer shall pay the premium for the Owner's Policy to be delivered at Closing (including any additional cost of extended coverage of any kind or amending the survey exception to read "shortages in area", or deleting the boundary exception, and the Mortgagee Title Policy if Buyer elects to obtain same, and timely furnished a satisfactory survey for this purpose, which shall be at the sole cost and expense of Buyer).

  • The Property is free and clear from all liens, security interests and encumbrances except the lien and security interest evidenced hereby and the encumbrances set forth in Schedule B of the Mortgagee Title Policy provided to Beneficiary pursuant to the Loan Agreement (the “Permitted Encumbrances”).

  • No claims have been made under the Mortgagee Title Policy, and to Borrower’s knowledge, no prior holder or Servicer of the Collaterally Assigned Mortgage, including Borrower, has done, by act or omission, anything which would impair the coverage of the Mortgagee Title Policy.

  • Borrower shall not, by act or omission, do anything that would materially impair the coverage under any Mortgagee Title Policy.


More Definitions of Mortgagee Title Policy

Mortgagee Title Policy means the mortgagee title policy issued by the Title Company to the Bank covering the Project.
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Mortgagee Title Policy means the mortgagee title insurance policy, in the form of ALTA Loan Policy - 1970 Form B, or such other form as is acceptable to the Bank, to be issued to Bank by the Title Company, and including all endorsements thereto, all in a form and with such exceptions as deemed reasonable by the Bank and insuring the lien of the Deed of Trust.
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Mortgagee Title Policy is defined in Section 4.1.
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Mortgagee Title Policy showing Lender as the insured thereunder, in the full amount of the Loan proceeds that may be advanced hereunder and in form and substance satisfactory to Lender. The Mortgagee Title Policy shall be written by the Title Company on behalf of an underwriter satisfactory to Lender and shall insure a valid first lien upon the Premises by virtue of the Deed of Trust, subject only to exceptions specifically approved in writing by Lender. If the underwriter issuing the Mortgagee Title Policy becomes insolvent or is placed in receivership or for any other reason such Policy becomes unenforceable, Borrower shall furnish Lender, at Borrower’s expense, another mortgagee title insurance policy in the amount and in substitution for the original Mortgagee Title Policy and meeting the above requirements.
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Mortgagee Title Policy has the meaning set forth in Section 2.03(g) of the Participation Agreement.
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Related to Mortgagee Title Policy

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • Title Policy shall have the meaning set forth in Section 4.2.

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Title Policies has the meaning set forth in Section 6.17.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Mortgagee The mortgagee or beneficiary named in the Mortgage and the successors and assigns of such mortgagee or beneficiary.

  • CLTA The California Land Title Association.

  • Title Insurer means Chicago Title Insurance Company.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Title Insurance An American Land Title Association (ALTA) mortgage loan title policy form 1970, or other form of Title Insurance Policy acceptable to FNMA or FHLMC, including all riders and endorsements thereto, insuring that the Security Instrument constitutes a valid first lien on the related Mortgaged Property subject only to permitted encumbrances.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • 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.

  • Release Property shall have the meaning set forth in Section 2.6 hereof.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

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

  • Closing Date Mortgaged Property as defined in Section 3.1(i).

  • 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).

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Mortgage Policy has the meaning specified in Section 4.01(a)(iv)(B).

  • Title Commitment shall have the meaning set forth in Section 4.2.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).