Examples of Institutional Mortgagee in a sentence
Each policy or binder issued by an insurer shall, to the extent obtainable, contain an agreement by the insurer that such policy shall not be canceled, non-renewed or substantially modified without at least thirty (30) days’ prior written notice to Landlord, Tenant and any Permitted Institutional Mortgagee (as defined in Section 12.3 below) named therein.
The prior written approval of the Association for a lease shall not apply to Lots and/or Homes acquired by an Institutional Mortgagee who has acquired title to the Lot and/or Home through foreclosure or deed in lieu of foreclosure.
If Seller elects to exercise its rights to repurchase, any “Institutional Mortgagee” (as hereinafter defined) shall be entitled to receive notice of such election if the Institutional Mortgagee has given written notice (in accordance with Paragraph 5 hereof) to Seller of (a) a copy of the mortgage; and (b) its name and address.
Any Institutional Mortgagee is entitled, upon written request, to a copy of the financial statements of the Association for the immediately preceding fiscal year.
Any such election shall be exercised by such Institutional Mortgagee giving written notice thereof to Seller whereupon the Institutional Mortgagee shall execute promptly formal assumption documents, in such form and content as Seller may reasonably require.