Mortgage Note. The originally executed note or other evidence of the indebtedness of a Mortgagor under the related Mortgage Loan.
Mortgage Note. The promissory note or other instrument evidencing the indebtedness of a Borrower under a Mortgage Loan.
Mortgage Note. The original Mortgage Note (or, if acceptable to the Purchaser, a lost note affidavit in a form acceptable to an Agency) bearing all intervening endorsements, endorsed “Pay to the order of _____________, without recourse” and signed in the name of the last endorsee by an authorized officer thereof.
Mortgage Note. In return for a loan that I received, I promise to pay $ (called “Principal”), plus interest in accordance with the terms of a Mortgage Note (referred to as the “Note”) dated . The Note provides for monthly payments of $ and a yearly interest rate of %. All sums owed under the Note are due no later than . All terms of the Note are made part of this Mortgage.
Mortgage Note. The original executed promissory note evidencing the indebtedness of a Mortgagor under a Mortgage Loan or if such Mortgage is not evidenced by a promissory note, the original executed document or other instrument primarily evidencing the indebtedness of the Mortgagor under such Mortgage Loan.
Mortgage Note. The originally executed secured promissory note or other evidence of indebtedness of a Borrower under a Qualified Loan, together with all riders thereto and amendments thereof.
Mortgage Note. The Borrower's Price Guarantee is evidenced by this Note. This Note, dated as of the Closing Date as defined in the Acquisition Agreement, is due and payable twenty four (24) months from its issuance. Commencing on September 1, 2001 and continuing for the next eight (8) successive months, Lender is required each such month to convert a portion of this Note into shares of the Borrower's Common Stock, the mandatory conversion dates and number of shares to be issued on each mandatory conversion date are set forth in Schedule I attached hereto (the "Monthly Allocation"). Commencing on September 30, 2001 and continuing on the last day of each of the next eight (8) successive months, the principal amount of the Mortgage Note shall be reduced by the greater of (i) the actual gross proceeds received by Lender for sale of the Monthly Allocation and any previously issued Monthly Allocation shares not sold during the applicable month during the applicable month made in accordance with Rule 144, or (ii) the average of the closing price for the Borrower's Common Stock from the 1st day of the applicable month to the next to last day of the applicable month as quoted on the OTC BB times the Monthly Allocation (the greater of subsection (i) or (ii) hereinafter referred to as the "Incremental Mortgage Reduction Amount"). In the event that Incremental Mortgage Reduction Amount is less than the Monthly Allocation times $2.50 per share during the applicable month (the "Target Reduction Amount"), the difference between the Target Reduction Amount and the Incremental Mortgage Reduction Amount realized shall bear interest at the rate of 11.11% per annum until paid. To assist Borrower in making this calculation, Lender agrees to provide evidence of all sales made in the applicable month to Borrower by the tenth (10th) day of the succeeding month. Each successive Incremental Mortgage Reduction Amount shall be applied first to accrued but unpaid interest and thereafter as a reduction to principal. At the end of the term of this Note, all unpaid principal and accrued interest not otherwise paid by the incremental reductions to principal shall be due and payable. In the event that incremental reductions pay off this entire Note and any accrued but unpaid interest prior to the end of the term, any Monthly Allocation shares not previous issued to Lender shall be immediately issued, this Note shall be canceled and any unsold shares delivered to or held by Lender, if any, may be retained...
Mortgage Note. The note or other evidence of the indebtedness of a Mortgagor secured by a Mortgage and riders thereto.
Mortgage Note. The note or other instrument evidencing the Mortgagor’s obligation to repay the amount of the Mortgage Loan, executed by the Mortgagor or its authorized agent.
