First Mortgage definition

First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

First Mortgage means the Mortgage and Deed of Trust dated as of June 1, 1939, made by the Borrower in favor of Citibank, N.A., as successor trustee, as the same has been amended, modified or supplemented to date and as the same may be further amended, modified or supplemented from time to time hereafter.

First Mortgage means that certain Mortgage and Deed of Trust, dated as of October 1, 1937, as supplemented, under which the Borrower is Mortgagor and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company) and R.G. Page (Xxxxxxx Xxxx successor individual trustee) are Trustees, as it may from time to time be further amended, supplemented or otherwise modified.

Examples of First Mortgage in a sentence

• Subordinate Lender may have up to 30 days from the date of the Default Notice to cure any monetary default under the First Mortgage Loan Documents; provided, however, that the Senior Lender shall be entitled during such 30-day period to continue to pursue its remedies with respect to the Property.

• Subordinate Lender may have up to 60 days from the date of the Default Notice to cure a non- monetary default if during such 60-day period Subordinate Lender keeps current all payments required by the First Mortgage Loan Documents.

• At any time after a First Mortgage Loan Default is determined to constitute a default under the Subordinate Loan Documents, the Subordinate Lender shall be permitted to pursue its remedies for default under the Subordinate Loan Documents, subject to the restrictions and limitations of this Agreement.

• The Subordinate Xxxxxx, the Senior Lender and the Borrower each agree, at the Borrower’s expense, to execute and deliver all additional instruments and/or documents reasonably required by any other party to this Agreement in order to evidence that the Subordinate Mortgage is subordinate to the lien, covenants and conditions of the First Mortgage, or to further evidence the intent of this Agreement.

• If any of the representations and warranties made by the Borrower in Section 3 is not true and correct on both of those dates, the provisions of the First Mortgage Loan Documents applicable to unpermitted liens on the Property shall apply.

More Definitions of First Mortgage

First Mortgage means the interest in the Subject Property creating a first lien thereon and providing security for the mortgage loan.

First Mortgage means a deed of trust or mortgage which is recorded senior to any other deeds of trust or liens against the Unit to secure a loan used to purchase the Unit made by a Mortgagee.

First Mortgage means a mortgage having priority over all other security interests registered against the same real property used to secure such mortgage.

First Mortgage means the Mortgage that is the first lien on the Mortgaged Property.

First Mortgage is defined in Section 43(b).

First Mortgage means any Mortgage granted to secure any loan made pursuant to either a mortgage commitment obtained by Developer from a commercial lender or other financial institution to fund any portion of the construction costs and initial operating capital requirements of the Minimum Improvements or all such Mortgages as appropriate.

First Mortgage means a mortgage or deed of trust which constitutes a first Lien on the property covered thereby.