First Mortgage Note definition

First Mortgage Note means a promissory note evidencing a loan secured by a First Mortgage.
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First Mortgage Note means the 11-1/2% First Mortgage Notes due 2000, as amended or supplemented from time to time, that are issued pursuant to this Indenture.
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First Mortgage Note means the promissory note to be executed in connection with the First Mortgage Loan.
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Examples of First Mortgage Note in a sentence

  • This loan is subordinate in right of payment to First Mortgage Note held by Bank of America, N.A. and is secured by Deed of Trust and Security Agreement.

  • Each First Mortgage Note evidencing First Mortgage Collateral shall be endorsed by Borrower at such time as the Bank may request as follows: "Pay to the order of the Federal Home Loan Bank of Dallas." All other First Mortgage Documents and documents representing Securities, Small Farm and Agri-Business Collateral, and Other Real Estate Related Collateral shall be marked and assigned to the Bank in the foregoing manner or in such other manner as shall be specified by the Bank.

  • The HUD- Insured Loan is evidenced by a Note (Multistate) in the amount of the HUD-Insured Loan (the "First Mortgage Note"), and secured by a Multifamily Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Kansas) from the Borrower to HUD Mortgagee.

  • The closing of the HUD-Insured Loan and initial endorsement by HUD of the First Mortgage Note for mortgage insurance is referred to herein as the "Initial Closing".

  • The cement and steel for this will be supplied by contractor and is included in therates.

  • Merchant testified that the balance on the First Mortgage Note as of November 15, 2011, was $54,083.17.

  • Merchant also pointed to the documentation attached to his proof of claim as proof of the debt’s balance when Merchant took over the First Mortgage Note in November 2011.

  • On November 23, 2011, Merchant sent a letter to Mumtaz informing her that he had purchased the First Mortgage Note on the Greenway Property and directing her to mail the monthly mortgage payment to him before the fifth of every month.

  • Marron, 2011 WL 2600543, at *5, 7 (finding that if a mortgagee forecloses a mortgage when it is not the holder of the related promissory note, it does so “as a fiduciary for the note holder, to whom it must account for the foreclosure sale proceeds.”).Lastly, the debtors argue that Wells Fargo has not proven that it is entitled to enforce the First Mortgage Note thus presumably it may not enforce the First Mortgage.

  • The parties agree that Plaintiffs are liable for the First Mortgage Note but disagree on the amount owed on the First Mortgage Note and the interest rate charged as of the Petition Date.


More Definitions of First Mortgage Note

First Mortgage Note means that certain Amended and Restated Mortgage Note dated October 28, 1998 in the principal amount of $275,000,000 made by Seller in connection with the First Mortgage Loan.
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First Mortgage Note means the promissory note of even date herewith from Maker to First Mortgage Lender in an original principal amount of $ . Maker means all of the undersigned. Maturity Date means the earliest to occur of one or more of the following dates.
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First Mortgage Note given to *** (the "Lender") evidencing a mortgage loan (the "First Mortgage Loan") and will perform all obligations under the mortgage made to the Lender (the "First Mortgage") on the Development of even date therewith, given as security for the First Mortgage Note, the mortgage note (the "Section 1602 Mortgage Note") given to the Authority and will perform all obligations under the mortgage made to the Authority (the "Section 1602 Mortgage") on the Development of even date therewith, given as security for the Section 1602 Mortgage Note, which are incorporated herein by reference.
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First Mortgage Note means the First Mortgage Note evidencing the First Mortgage Loan and shall include any and all amendments, modifications and extensions thereof and supplements thereto hereafter made in conformity with the First Mortgage.
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First Mortgage Note means that certain promissory note dated as of ------------------- the date hereof made by Borrower to First Mortgage Lender in connection with the First Mortgage Loan.
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Related to First Mortgage Note

  • Lost Mortgage Note Any Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

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

  • Mortgage Note The original executed note or other evidence of indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Mortgage Notes means, collectively, the promissory notes aggregating $310,000,000 principal amount issued pursuant to the Mortgage Note Agreements, dated December 12, 1991 and executed by the Operating Partnership, together with and any loan agreement and security documents executed in connection therewith, any and all instruments given in renewal, extension, modification, or rearrangement of or in substitution or replacement for any one or more of the foregoing described promissory notes and other documents, whether given to the original purchaser thereof (or its designee) or any other Person and other documents.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of February 14, 2020, between the Borrower, as borrowers, and the Original Lenders, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Existing Mortgages means each of the mortgages, deeds of trust or other agreements made pursuant to the Existing Credit Agreement by any Loan Party in favor of the Agent for the benefit of the Agent and the Lenders.

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.