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

• A certificate from an insurance company indicating that the Borrower is covered by general liability and worker's compensation insurance shall be approved by the City and as required by the First Deed of Trust Lender and equity investor.

• Such Note shall be secured by a first lien on the Property using a First Deed of Trust.

• This Covenant shall not impair the rights of such Institutional Lender, or such lender’s assignee or successor in interest, to exercise its remedies under the First Deed of Trust in the event of default by Owner; these remedies include the right to foreclose or exercise a power of sale or to accept a deed or assignment in lieu of foreclosure.

• Buyer further acknowledges and agrees that in the event of Buyer’s default, the First Installment Note and First Deed of Trust may be assigned to Seller and Seller shall be entitled to legally enforce said instruments.

• The terms and provisions of the First Deed of Trust are paramount and controlling, and they supersede any other terms and provisions hereof in conflict therewith.

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 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 a deed of trust securing repayment of

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 Issuer, as beneficiary.

First Deed of Trust. Section 21.1. “HCD Laws/Regulations” – Recital D. “Increased Base Price” - Section 12.1. “Ineligible Purchaser” – Section 10.b. “Initial Subsidy” – Section 13.2.‌‌‌‌

First Deed of Trust means a mortgage, deed of trust, or other instrument which: a. constitutes or is equivalent to a first lien or encumbrance on the Property, subject only to the Permitted Encumbrances, and b. will allow the Person secured thereby, directly or by a trustee or other Person, to foreclose on the Property (by power-of-sale, judicially or otherwise) upon default thereunder or under the loan secured by such instrument and thereby acquire title to the Property, subject only to the Permitted Encumbrances.