First Lender Loan definition

First Lender Loan means the loan secured by the First Deed of Trust.
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First Lender Loan means that loan evidenced by a deed of trust (collectively the "First Lender Deed of Trust") executed by Borrower to secure the promissory note (collectively the "First Lender Note") executed by Borrower to assist in the purchase of the Property.
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Examples of First Lender Loan in a sentence

  • In the event of default and foreclosure under the First Lender Loan or any other mortgage loan on the Home, the City shall have the same right as the Owner to cure defaults and redeem the Home prior to the foreclosure sale.

  • As a condition for subordination of the City Deed of Trust, a request for notice of default and notice of sale regarding the refinanced First Lender Loan shall be recorded in the Office of the Recorder of the County of Santa ▇▇▇▇▇ for the benefit of the City.

  • The Owner hereby requests the City to approve the Owner's refinance of the existing First Lender Loan (first mortgage loan) on the Home.

  • Copy of existing First Lender Loan Documents and any other loan documents secured by a deed of trust that has been recorded against the Home.

  • Notwithstanding any other provision hereof, the provisions of this Agreement shall be subordinate to the lien of the First Lender Loan and this Agreement and the City Deed of Trust shall not impair the rights of the First Lender, or the First Lender's successor or assign, to exercise its remedies under the First Lender Deed of Trust in the event of default under the First Lender Deed of Trust by the Owner.

  • If there is more than one loan, from the same lender, which loans collectively make up the "First Lender Loan" (as set forth in Recital F), the City shall not subordinate to the refinanced loan unless all loans making up the First Lender Loan are refinanced into one loan and such loan meets the requirements of Section 24B.

  • A lien is recorded against the Home other than the lien of the First Lender Loan or a junior mortgage loan or equity line of credit approved by the County pursuant to Section 17.

  • The City shall permit and approve a prepayment and refinance of the existing First Lender Loan and shall provide for the subordination of this Agreement and the City Deed of Trust to the refinanced First Lender Loan only if such refinance does not cause the total debt secured by the Home, including junior mortgage loan and equity lines of credit, to exceed the Permitted Encumbrance Amount.

  • Owner shall observe and perform all of the covenants and agreements of the promissory note(s) (together, the “First Lender Note”), the deed(s) of trust securing the First Lender Note (together, the “First Lender Deed of Trust”), and related documents of the First Lender Loan.

  • In the event Owner desires to refinance the First Lender Loan or borrow a mortgage loan or equity line of credit junior in lien priority to this Resale Restriction, Owner shall submit to the County the Owner Request to Refinance Notice attached as Exhibit E to this Resale Restriction.