Mortgage Parameters Sample Clauses

Mortgage Parameters. As more particularly set forth in Section 21.3 of the Lease, Phase III Landlord shall make reasonable and diligent efforts to obtain the Phase III Permanent Mortgage Loan (a) on a 75% loan to value basis, (b) with a term of not less than 10 years, (c) with an amortization schedule based on level payments of principal and interest for 25 years and (d) at then applicable market interest rates for such loans, given Tenant's financial condition and creditworthiness. As further provided in such Section, the terms of such loan must be approved by Tenant, and in such regard Tenant shall have the options set forth in said Section and Section 21.4. -121- SCHEDULE OP Purchase Price under Tenant's Option to Purchase 1. Definitions in Lease. All terms used in this Schedule which are defined in the Lease to which this Schedule is attached shall have the meanings assigned to them in the Lease. In particular, reference is made to the definitions of Office, Research and Development Park or Park, Building, Base Project, Project, Budgeted Cost for Base Project, Phase II Land, Phase II Building, Phase II Project, Phase III Land, Phase III Building, Phase III Project and Purchase Option or Option to Purchase set forth in Section 1.1 of the Lease and the definitions of Base Project Cost, Budgeted Cost, Closing, Collective Owners, Phases II/III Preliminary Work Cost and Project Cost set forth in Section 1.2 of the Lease.
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Mortgage Parameters. As more particularly set forth in Section 20.4 of the Lease, Phase II Landlord shall make reasonable and diligent efforts to obtain the Phase II Permanent Mortgage Loan (a) on a 75% loan to value basis, (b) with a term of not less than 10 years, (c) with an amortization schedule based on level payments of principal and interest for 25 years and (d) at then applicable market interest rates for such loans, given Tenant's financial condition and creditworthiness. As further provided in such Section, the terms of such loan must be approved by Tenant, and in such regard Tenant shall have the options set forth in said Section and Section 20.5. SCHEDULE L3 Description of Phase III Land PARCEL ONE A certain parcel of land situated off ▇▇▇▇▇ ▇▇▇▇ Street, Marlborough, Middlesex County, Commonwealth of Massachusetts shown as Parcel 2 on a Plan entitled "Definitive Plan ▇▇▇▇▇▇▇ ▇▇▇▇ Corporate Center Marlborough, Mass." dated April 4, 2000, revised May 11, 2000 and January 10, 2001 prepared by ▇▇▇▇▇ Engineering, Inc. recorded with Middlesex South Registry of Deeds as Plan No. 47 of 2001 ("Definitive Plan"), said parcel also being shown as Phase III on the sketch/plan entitled "Sketch Plan in Marlborough, Mass. Showing Proposed Phase Lines, ▇▇▇▇▇▇▇ ▇▇▇▇ Corporate Center" dated January 10 2001, prepared by ▇▇▇▇▇ Engineering, Inc. (the "Phase Plan"), attached hereto. PARCEL TWO The right and easement, appurtenant to Parcel One above, to use the strip of land shown as the "Proposed Common Driveway Easement" on the Definitive Plan as described in a Declaration of Easements, Covenants and Restrictions by Hillside School, Inc. dated January 29, 2001 and recorded with the Notice of this Lease with Middlesex South Registry of Deeds as Instrument No. 375 of February 1, 2001. PARCEL THREE The right and easement, appurtenant to Parcel One above, to use the strip of land shown as "Common Driveway Easement" on the Definitive Plan for all purposes for which streets and ways are used in the Town of Northborough and City of Marlborough and for installation of improvements as defined in the Easement Agreement (hereinafter defined) and for other rights set forth in the Easement Agreement all as set forth in the Easement Agreement from Saint-Gobain Ceramics & Plastics, Inc. to Hillside School, Inc. dated January 29, 2001 and recorded with the Notice of this Lease with Middlesex South Registry of Deeds as Instrument No. 374 of February 1, 2001 and with Worcester Registry of Deeds in Book 2...
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Related to Mortgage Parameters

  • Mortgage Loan Characteristics The characteristics of the related Mortgage Loan Package are as set forth on the description of the pool characteristics for the applicable Mortgage Loan Package delivered pursuant to Section 11 on the related Closing Date in the form attached as Exhibit B to each related Assignment and Conveyance Agreement;

  • Location and Type of Mortgaged Property The Mortgaged Property is a fee simple property located in the state identified in the related Mortgage Loan Schedule, except that with respect to real property located in jurisdictions in which the use of leasehold estates for residential properties is a widely-accepted practice, the Mortgaged Property may be a leasehold estate, and consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development and that no residence or dwelling is a mobile home; provided, however, that any condominium unit or planned unit development shall not fall within any of the "Ineligible Projects" of part XII, Section 102 of the Fannie Mae Selling Guide and shall conform with the Underwriting Guidel▇▇▇▇. In the case of any Mortgaged Properties that are manufactured homes (a "Manufactured Home Mortgage Loans"), (i) such Manufactured Home Mortgage Loan conforms with the applicable Fannie Mae or Freddie Mac requirements regarding mortgage loans related ▇▇ ▇▇n▇▇▇ctur▇▇ ▇▇▇▇lings, (ii) the related manufactured dwelling is permanently affixed to the land, (iii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming Seller as mortgagee, (iv) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (v) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended, and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. As of the date of origination, no portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes;

  • Mortgage Schedules The Seller from time to time shall provide the Purchaser with certain information constituting a preliminary listing of the Mortgage Loans to be purchased on each Closing Date in accordance with the related Purchase Price and Terms Agreement and this Agreement (each, a "Preliminary Mortgage Schedule"). The Seller shall deliver the related Mortgage Loan Schedule for the Mortgage Loans to be purchased on a particular Closing Date to the Purchaser at least five (5) Business Days prior to the related Closing Date. The related Mortgage Loan Schedule shall be the related Preliminary Mortgage Schedule with those Mortgage Loans which have not been funded prior to the related Closing Date deleted.

  • The Mortgage Pool The Series ____-__ Certificates shall evidence the entire beneficial ownership interest in a mortgage pool (the "Mortgage Pool") of conventional, fixed rate, fully amortizing one- to four-family residential mortgage loans (the "Mortgage Loans") having the following characteristics as of ________ __, ____ (the "Cut-off Date"):

  • Mortgage Lessee does hereby agree to make reasonable modifications of this Lease requested by any Mortgagee of record from time to time, provided such modifications are not substantial and do not increase any of the Rents or obligations of Lessee under this Lease or substantially modify any of the business elements of this Lease.