Proceeds Disbursed. The proceeds of the Mortgage Loan have been fully disbursed, and pursuant to the terms and conditions thereof as of the Claim Date there is no obligation on the part of HUD, nor will there be any obligation on the part of the Purchaser (or any other mortgagee), to make future advances thereunder, at the option of the Borrower or otherwise. Any and all requirements as to completion of any on- site or off-site improvements and as to disbursements of any escrow funds therefore have been complied with. All costs, fees and expenses incurred in making or closing or recording the Mortgage Loans were paid.
Appears in 3 contracts
Sources: Conveyance, Assignment and Assumption Agreement, Conveyance, Assignment and Assumption Agreement, Conveyance, Assignment and Assumption Agreement