SUBORDINATE MORTGAGE. Notwithstanding any provisions of this Instrument or any of the other Loan Documents to the contrary, it is understood and agreed that the lien, terms, covenants and conditions of this Instrument are and shall be subordinate in all respects, including in right of payment, to the Bond Mortgage, subject to the terms of the Intercreditor Agreement. ATTACHED EXHIBITS. The following Exhibits are attached to this Instrument: |X| Exhibit A Description of the Land (required). | | Exhibit B Modifications to Instrument
SUBORDINATE MORTGAGE. Grantor (i) represents as a special inducement to Beneficiary to make the loan secured hereby that as of the date hereof the Mortgaged Property is not encumbered for purposes of securing debt junior to this Deed of Trust other than as specifically permitted by the Loan Agreement, and covenants that there shall be none as of the date when this Deed of Trust becomes of record, and (ii) agrees that Grantor will not, without the prior written consent of Beneficiary being first had and obtained, which consent may be withheld by Beneficiary in its sole and absolute discretion and without regard to the adequacy of its security hereunder, execute or deliver any pledge, security agreement, mortgage or deed of trust covering all or any portion of the Mortgaged Property or any interest therein.
SUBORDINATE MORTGAGE. This Mortgage is subject to and subordinate to that certain Mortgage, Assignment of Leases and Rents and Security Agreement (the "SENIOR MORTGAGE") and to that certain Assignment of Leases and Rents (the "SENIOR ASSIGNMENT") each of even date herewith from Borrower to Lender, which Senior Mortgage and Senior Assignment have been recorded immediately prior to this Mortgage.
SUBORDINATE MORTGAGE. Without the prior written consent of Administrative Agent, Borrower (i) creates or places, permits to be created or placed, attempts to create or place, through any act or failure to act, acquiesces in the creation or placing of, or allows to remain, any Subordinate Mortgage or (ii) grants any easement or dedication, seeks or obtains a zoning reclassification or variance, files any plat, condominium declaration, or restriction or enters into any Lease (other than as expressly permitted by the Loan Documents) which affects all or any portion of the Mortgaged Property;
SUBORDINATE MORTGAGE. The Deed of Trust, Security Agreement and Fixture Filing (West Hills – Second) dated as of the date of this Instrument, executed by Borrower, for the benefit of Lender, securing the Other Obligations.
SUBORDINATE MORTGAGE. In addition to the protections given to Note Holder under this NOTE, a Subordinate Mortgage, dated the same date as this NOTE, may protect the Note Holder from possible losses which might result if BORROWER does not keep the promises which are made in this NOTE and/or the WRITTEN AGREEMENT signed by both the BORROWER and the CITY. However, the Note Holder may be subject to repay the HOME Program funds even if the Note Holder is unable to recover any or all of the HOME Program funds. The Subordinate Mortgage is and shall be subject and subordinate in all respects to the liens, terms, covenants and conditions of the First Mortgage. REMAINDER OF XXXX INTENTIONALLY LEFT BLANK WITNESS THE SIGNATURE(S) OF THE UNDERSIGNED Borrower:________________________________ Date: _________________________ (Xxxxxxxx’s typed full name goes here.) Borrower:________________________________ Date: _________________________ (Xxxxxxxx’s typed full name goes here.) ACKNOWLEDGMENT STATE OF ___________________________ ) ) SS: COUNTY OF__________________________ ) Before me, the undersigned Notary Public in and for said County and State, on this ________ day of__________, 200____, personally appeared___________________________________________________________, to me known to be the identical person who executed the foregoing Note and acknowledged to me that he/she executed same as his/her free and voluntary act and deed for the uses and purposes therein set forth.
SUBORDINATE MORTGAGE. Notwithstanding any provisions of this Instrument or any other Loan Document to the contrary, it is understood and agreed that the lien, terms, covenants and conditions of this Instrument are and shall be subordinate in all respects, including in right of payment, to the indebtedness evidenced by a Multifamily Note dated October 28, 1998, in the original principal amount of $1,980,000.00 (as the same may be modified, amended, or refinanced, the "Senior Note") made by the Borrower and secured by a Multifamily Deed of Trust, Assignment of Rents and Security Agreement dated the same date as the Senior Note (the "Senior Instrument").
SUBORDINATE MORTGAGE. The Deed of Trust, Security Agreement and Fixture Filing (Huntington Terrace – Second) dated as of the date of this Instrument, executed by Borrower, for the benefit of Lender, securing the Other Obligations.
SUBORDINATE MORTGAGE. Notwithstanding any provisions of this Instrument or any of the other Loan Documents to the contrary, it is understood and agreed that the lien, terms, covenants and conditions of this Instrument are and shall be subordinate in all respects, including in right of payment, to the Bond Mortgage, subject to the terms of the Intercreditor Agreement. ATTACHED EXHIBITS. The following Exhibits are attached to this Instrument: |X| Exhibit A Description of the Land (required). | | Exhibit B Modifications to Instrument PURSUANT TO NORTH DAKOTA CENTURY CODE SECTION 32-19-06.1, XXXXXXXX IS XXXXXX PUT ON NOTICE THAT XXXXXX MAY HAVE THE RIGHT TO PROCEED TO OBTAIN AND COLLECT A DEFICIENCY JUDGMENT, TOGETHER WITH FORECLOSURE OF THE MORTGAGED PROPERTY UNDER APPLICABLE LAWS.
SUBORDINATE MORTGAGE. The Mortgage and Security Agreement (Doctors Specialty Hospital – Second) dated as of the date of this Instrument, executed by Borrower for the benefit of Lender, securing the Other Obligations. Prudential Loan No. 706109202 CNL MOB Portfolio Mortgage and Security Agreement (Doctors Specialty Hospital - First)
