First Deed of Trust definition

First Deed of Trust a mortgage of approximately $2,500,000.00 construction loan and $2,500,000.00 permanent loan with US Bank, N.A. shall be in first lien position

First Deed of Trust means a mortgage, deed of trust, or other instrument which:

First Deed of Trust means that deed of trust, senior in priority to any other deed of trust, that is placed on the Assisted Unit as security for any first mortgage loan obligation, with a Qualified Homebuyer as trustor and a First Lender as beneficiary, if the loan is used for the purchase of the Assisted Unit. Upon subordination of this Declaration and the Performance Deed of Trust, the lien of the First Deed of Trust provided by the First Lender may become a lien against the Assisted Unit that is in a senior position to the lien of this Declaration.

Examples of First Deed of Trust in a sentence

• In the event of a proposed refinance that includes a principal amount in excess of that needed to repay the loan secured by the First Deed of Trust, any approval by City shall include conditions which, in the sole discretion of City, are warranted in order to insure the continued affordability of the Residence.

• If Owner desires to refinance a First Deed of Trust pursuant to Section 6.1, or to borrow funds for a new loan to be secured by a junior lien encumbering the Residence the proceeds of which are to be used to pay for repairs or the construction of improvements to the Residence pursuant to Section 6.2, prior written approval of City is required.

• Any refinancing of a First Deed of Trust that has not been previously approved by City shall constitute a default under this Agreement.

More Definitions of First Deed of Trust

First Deed of Trust means a deed of trust or mortgage which is recorded senior to any other deeds of trust or liens against the Property to secure a loan made by an Institutional Lender used to purchase the Property by an Eligible Buyer. The “First Deed of Trust” does not include any subsequent deeds of trust for refinancing or increasing the debt encumbrance on the property, or any deed of trust made by a person who is not an Eligible Buyer.

First Deed of Trust means a deed of trust securing repayment of

First Deed of Trust means the Deed of Trust dated _______, executed by Maker encumbering the Property.

First Deed of Trust means the First Deed of Trust and Assignment of Rents, Security Agreement and Fixture Filing, dated as of August 23, 1988, by and among 3055, as Trustor, Masox-XxXxxxxx Xxxancial Corporation, as Trustee, and Variable, as Beneficiary, recorded as Series No. 88-215552, in Alameda County, State of California

First Deed of Trust means the First Deed of Trust and assignment of Rents (Construction Trust Deed) with respect to the Project, of even date herewith, executed by the Company, as trustor, to the Title Company, as trustee, for the benefit of the Authority, as beneficiary;

First Deed of Trust. As used herein, "First Deed of Trust" shall mean ------------------- the deed of trust constituting a first-priority lien against the Property, by Xxxxxxxx to Equitable Deed Company, as trustee, for the benefit of Bank of America, Federal Savings Bank, as beneficiary, recorded December 30, 1998 under Recorder's Serial Number 14574954 in the Official Records of the County of Santa Xxxxx, State of California securing a loan in a principal amount not in excess of EIGHT HUNDRED FIFTY THOUSAND DOLLARS ($850,000),

First Deed of Trust means that certain Deed of Trust dated July 10, 2015, executed by Real Estate Seller in favor of First National Bank of Oneida.