HUD Mortgage definition

HUD Mortgage means the original loan made by HUD to the HDFC in connection with the Section 202 Supportive Housing Program for the Elderly, which loan was secured by a mortgage on the Exemption Area.
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HUD Mortgage means the Section 223(f) insured mortgage made by HUD on October 13, 2006, to the HDFC in connection with the Section 202 Supportive Housing Program for the Elderly, which loan was secured by a mortgage on the Exemption Area.
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HUD Mortgage means the currently outstanding mortgage indebtedness, in the approximate amount of Five Million Sixty-Two Thousand Two Hundred Eighteen and 49/100 Dollars ($5,062,218.49) (as of April 1, 2007), which mortgage indebtedness is secured by mortgage or deed of trust liens against the BayView Facility in favor of PFC Corporation and which mortgage indebtedness is insured by HUD pursuant to the National Housing Act.
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Examples of HUD Mortgage in a sentence

  • On or before the Closing Date, WH and DRE have entered into the Real Property Transfer Agreement, substantially in the form of Exhibit C (“RPTA”), pursuant to which WH will transfer the real property and improvements owned by the Hospital, whether located at the Hospital campus or elsewhere, to DRE, subject to the HUD Mortgage, effective at the Effective Time, all on the terms set forth in the RPTA.

  • This Mortgage shall at all times remain subordinate to (i) the Multifamily Mortgage, Security Agreement, Assignment of Rents and Fixture Filing, dated as of the date hereof, by the Borrower for the benefit of ORIX Real Estate Capital, LLC (the “HUD Mortgage”), and (ii) the Leasehold Mortgage (Seller Loan), dated as of the date hereof, by the Borrower for the benefit of the Lender (the “Seller Mortgage” and together with the HUD Mortgage, the “Senior Mortgages”).

  • In addition, and without limiting the generality of the foregoing, WH and Diocese shall negotiate in good faith any amendments to this Agreement and agree to any reasonable amendments to the RPTA or Master Hospital Lease as are necessary to obtain any consents to the transactions contemplated by this Agreement, the RPTA or the Master Hospital Lease under the HUD Mortgage.

  • In addition, and without limiting the generality of the foregoing, WVUHS shall negotiate in good faith any amendments to this Agreement and agree to any reasonable amendments to the RPTA or Master Hospital Lease as are necessary to obtain any consents to the transactions contemplated by this Agreement, the RPTA or the Master Hospital Lease under the HUD Mortgage.

  • To the extent the rights and/or remedies under the HUD Mortgage conflict with the rights and/or remedies of the Lender hereunder, then the rights and/or remedies under the HUD Mortgage shall control, and the Lender shall do no act or deed which, either directly or indirectly adversely affects such rights and/ or remedies of the lender under the HUD Mortgage.

  • Further, the terms of this Mortgage and the rights and remedies of the Lender hereunder shall be subject and subordinate to the lien, terms, covenants and conditions of the HUD Mortgage.

  • To the extent the terms, covenants and/or conditions of this Mortgage are contrary to or inconsistent with the terms, covenants or conditions of the HUD Mortgage, with the result that the Borrower's performance or compliance with such terms, covenants and/or conditions shall constitute a default under the HUD Mortgage, then such contrary or inconsistent terms, covenants and/or conditions under this Mortgage shall be null and void.


More Definitions of HUD Mortgage

HUD Mortgage means the original loans made by HUD to the Exemption Area in connection with the Section 202 Supportive Housing Program for the Elderly, which loans were secured by mortgages on the Exemption Area.
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HUD Mortgage shall have the meaning set forth in the Recitals.
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Related to HUD Mortgage

  • 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.

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

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • FHA Approved Mortgagee A corporation or institution approved as a mortgagee by the FHA under the Act, and applicable HUD regulations, and eligible to own and service mortgage loans such as the FHA mortgage loans.

  • Permitted Mortgage means (a) any purchase money mortgage on such Principal Property prior to, simultaneously with or within 180 days after the later of (1) the acquisition or completion of construction or completion of substantial reconstruction, renovation, remodeling, expansion or improvement (each, a “substantial improvement”) of such Principal Property or (2) the placing in operation of such property after the acquisition or completion of any such construction or substantial improvement; (b) Mortgages on a Principal Property existing at the time of acquisition, including acquisition through merger or consolidation; (c) Mortgages existing on the date of the initial issuance of the Notes, Mortgages on assets of a corporation or other business entity existing on the date it becomes a Restricted Subsidiary or is merged or consolidated with the Company or a Restricted Subsidiary or at the time the corporation or other business entity sells, leases or otherwise disposes of its property as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary or Mortgages on the assets of a Subsidiary that is newly designated as a Restricted Subsidiary if the Mortgage would have been permitted under the provisions of this paragraph if such Mortgage was created while the Subsidiary was a Restricted Subsidiary; (d) Mortgages in favor of the Company or a Restricted Subsidiary; (e) Mortgages for taxes, assessments or governmental charges or levies that are not delinquent or that are being contested in good faith; (f) carriers’, warehousemen’s, materialmen’s, repairmen’s, mechanic’s, landlords’ and other similar Mortgages arising in ordinary course of business that are not delinquent or remain payable without penalty or that are being contested in good faith; (g) Mortgages (other than any Mortgage imposed by the Employee Retirement Income Security Act of 1974) consisting of pledges or deposits required in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation; (h) easements, rights-of-way, restrictions, encroachments, imperfections and other similar encumbrances affecting real property that, in the aggregate, are not substantial in amount and do not in any case materially detract from the value of the Principal Property subject thereto or materially interfere with the ordinary conduct of the Company and its Subsidiaries’ business, taken as a whole; (i) Mortgages arising by reason of deposits with, or the giving of any form of security to, any governmental agency or any body created or approved by law or governmental regulation, including any zoning or similar law or right reserved to or vested in any governmental office or agency to control or regulate the use of any real property; (j) Mortgages arising from filing Uniform Commercial Code financing statements relating solely to leases; and (k) Mortgages to secure Indebtedness incurred to extend, renew, refinance or replace Indebtedness secured by any Mortgages referred to above, provided that the principal amount of the extended, renewed, refinanced or replaced Indebtedness does not exceed the principal amount of Indebtedness so extended, renewed, refinanced or replaced, plus transaction costs and fees, and that any such Mortgage applies only to the same property or assets subject to the prior permitted Mortgage (and, in the case of real property, improvements).

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

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

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

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

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.

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

  • 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.

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Qualified Mortgage Insurer Any mortgage insurer that is Xxxxxx Xxx and Xxxxxxx Mac approved.

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Leasehold Mortgage means any leasehold deed of trust, mortgage, deed to secure debt, assignment of leases and rents, assignment, security agreement, or other security document securing financing from a lender of Tenant and encumbering Tenant’s leasehold interest in any Demised Property.

  • Registered mortgage loan originator means any individual who:

  • 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.