Mortgagee in Possession. Borrower acknowledges and agrees that the exercise by Lender of any of the rights conferred in this Security Instrument shall not be construed to make Lender a mortgagee-in-possession of the Mortgaged Property so long as Lender has not itself entered into actual possession of the Land and Improvements.
Appears in 5 contracts
Sources: Deed to Secure Debt, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Manufactured Housing Properties Inc.), Deed to Secure Debt, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Manufactured Housing Properties Inc.), Multifamily Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Steadfast Income REIT, Inc.)
Mortgagee in Possession. Borrower Grantor acknowledges and agrees that the exercise by Lender of any of the rights conferred in this Security Instrument shall not be construed to make Lender a mortgagee-in-possession of the Mortgaged Property so long as Lender has not itself entered into actual possession of the Land and Improvements.
Appears in 1 contract
Sources: Deed of Trust (Manufactured Housing Properties Inc.)
Mortgagee in Possession. Borrower acknowledges and agrees that the exercise by Lender of any of the rights conferred in this Security Instrument shall not be construed to make Lender a mortgagee-in-in- possession of the Mortgaged Property so long as Lender has not itself entered into actual possession of the Land and Improvements.
Appears in 1 contract
Sources: Subordination Agreement