First Lender definition

First Lender has the meaning set forth in the Borrower Security Instrument.

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First Lender or "Senior Lien Holder" means the private lender providing a first mortgage to a Qualified Homebuyer who has purchased or is purchasing the Assisted Unit.

First Lender has the meaning set forth in Section 12.18(b).

Examples of First Lender in a sentence

• Such remedies under the First Lender Deed of Trust include the right of foreclosure or acceptance of a deed or assignment in lieu of foreclosure.

• The rights and remedies of Lender under this Section 15 are subject to the rights and remedies of First Lender under the First Mortgage Documents.

• The rights and remedies of Lender under this Section 9 are subject to the rights and remedies of First Lender under the First Mortgage Documents.

• Any person or entity receiving Mortgaged Property or any other proceeds of the Project other than (i) the First Lender pursuant to the First Mortgage Documents, or (ii) for eligible purposes pursuant to this Agreement shall immediately deliver such Mortgaged Property or other proceeds to Borrower for the benefit of the Project and failing so to do shall hold and be deemed to hold such Mortgaged Property in trust for the benefit of the Project.

• All insurance policies and renewals thereof will be in a form acceptable to the City and will include a standard mortgagee clause with standard lender's endorsement in favor of the holder of the First Lender Note and the City as their interests may appear and in a form acceptable to the City.

More Definitions of First Lender

First Lender as defined in subsection 9.8(b).

First Lender as defined in subsection 17.8(c).

First Lender has the meaning assigned to that term in Section 13.1(c).

First Lender means any person, entity, bank, savings and loan association, insurance company, or financial institution holding a recorded First Mortgage on any Condominium.

First Lender means .

First Lender as defined in subsection 13.8(c).

First Lender means the Institutional Lender that makes the First