Construction Lender definition

Construction Lender means a person who makes a construction loan.

Construction Lender means either of the following:

Construction Lender means any person, including a bank, trust company, savings bank, industrial bank, land bank, safe deposit company, private banker, savings and loan association, credit union, cooperative bank, small loan company, sales finance company, investment company, or any other financial institution that advances money to a borrower for the purpose of making alterations or improvements to real property. A construction lender does not include a person or entity who is acting in the capacity of contractor, original contractor, or subcontractor.

Examples of Construction Lender in a sentence

• If an Event of Default has occurred and is continuing, the entire unpaid principal balance, any accrued interest and all other amounts payable under this RRDP Note and any other RRDP Loan Document shall at once become due and payable, at the option of the Construction Lender during the Construction Loan Term and at the option of the Permanent Lender on and after the Conversion Date, without any prior notice to Borrower.

• Notices, except to the Construction Lender, shall be deemed given when mailed as provided herein.

• The Corporation has provided a Take-out Commitment to the Construction Lender who is financing the construction and/or rehabilitation of the Qualified Project, all for the purpose, among others, of inducing the Borrower to construct or acquire, renovate, equip and operate the Qualified Project.

• If Owner, Construction Lender or any public body or inspector directs any modification or addition to the work covered by this Contract, the charge for that extra work shall be determined in advance and the cost shall be added to the Contractor’s usual fee for overhead and profit.

• The Borrower acknowledges that the Take-out Commitment by the Corporation to the Construction Lender selected by Borrower is not nor shall be deemed to be an assignment of CDBG Funds.

More Definitions of Construction Lender

Construction Lender means the maker of any Construction Loan or beneficiary of any Construction Loan Deed of Trust.

Construction Lender means any mortgagee or beneficiary under a

Construction Lender means the maker of the Construction Loan, or its successor and assigns in such capacity.

Construction Lender means any mortgagee or beneficiary under a deed of trust lending funds all or a portion of which are used to defray the cost of the construction, alteration, repair or improvement, or any assignee or successor in interest of either.

Construction Lender means , a . “Deed of Trust” means that certain Deed of Trust with Assignment of Rents, Security Agreement and Fixture Filing of even date herewith to be executed by Xxxxxxxx as trustor for the benefit of the Committee, as beneficiary, as hereafter amended, supplemented, replaced or modified.

Construction Lender means the lender which provides the Construction Loan for the Project.

Construction Lender means a Lender with a Construction Commitment or with outstanding Construction Loans.