FNMAE RMI Lien Documents Sample Clauses
The FNMAE RMI Lien Documents clause defines the requirements and standards for lien documents related to Residential Mortgage Instruments (RMI) that comply with Federal National Mortgage Association (Fannie Mae) guidelines. This clause typically specifies the form, content, and execution procedures for mortgages, deeds of trust, or other security instruments to ensure they are acceptable to Fannie Mae for loan eligibility and securitization. By establishing clear documentation standards, the clause helps ensure that the mortgage instruments are enforceable and meet secondary market requirements, thereby facilitating loan sales and reducing the risk of rejection due to documentation issues.
FNMAE RMI Lien Documents. Each of the eight (8) Initial Financings is evidenced by a set of loan documents, all of which sets are substantially similar and generally include the instruments described below in items 1-4 (collectively, the “Initial Financing Loan Documents”). Each of the seven (7) Secondary Financings is evidenced by a set of loan documents, all of which sets are substantially similar and generally include the instruments described below in items 5-8 (collectively, the “Secondary Financing Loan Documents” and together with the Initial Financing Loan Documents, collectively, the “RMI Loan Documents”). The Initial Financing Loan Documents are all dated as of April 13, 2007. The Secondary Financing Loan Documents are all dated as of October 31, 2007. In connection with the Acquisition, in order to evidence the assumptions of the ▇▇▇▇▇▇ Mae RMI Liens by the SNH RMI Subsidiaries, each Initial RMI Borrower and its counterpart SNH RMI Subsidiary entered into a set of assumption and release agreements, and each SNH RMI Subsidiary, FNMAE and Tenant entered into a set of subordination, assignment and security agreements. Each such assumption and release agreement (collectively, the “RMI Assumption and Release Agreements”) is substantially similar and includes the instrument described below in item 9. Each such subordination, assignment and security agreement (collectively, the “RMI SASAs”) is substantially similar and includes the instrument described below in item 10. All of the RMI Assignment and Assumption Agreements and RMI SASAs are dated as of September 1, 2008. Each of the RMI Loan Documents, the RMI Assignment and Assumption Agreements, and the RMI SASAs, as each such instrument has been or may be amended, supplemented or otherwise modified, is an Acquired Property Lien Document.
1. Multifamily Notes, by the Initial RMI Borrowers in favor of RMC.
2. Multifamily Mortgage, Assignment of Rents and Security Agreements, made by the Initial RMI Borrowers in favor of RMC.
3. Replacement Reserve and Security Agreements, by and between the Initial RMI Borrowers and RMC.
4. Subordination, Assignment and Security Agreements, by and among the Initial RMI Borrowers, RMC and RMI.
5. Multifamily Notes by the Initial RMI Borrowers in favor of RMC.
6. Multifamily Mortgage, Assignment of Rents and Security Agreements, made by the Initial RMI Borrowers in favor of RMC.
7. Replacement Reserve and Security Agreements, by and between the Initial RMI Borrowers and RMC.
8. Subordination, Assi...