Mortgage Holders definition
Examples of Mortgage Holders in a sentence
If conflicting demands are made on the Custodian with respect to any matter, the Trustee's demand shall control, except during the period prior to the issuance of the Trustee's Trust Receipt pursuant to Section 3.1 hereof, when the applicable Mortgage Holder's demand shall control and the Custodian shall have the right to rely on such controlling demand.
In general, to attend to all non-discretionary details in connection with maintaining custody of the Mortgage Files on behalf of the Mortgage Holders as may be expressly provided herein or as may be required or customary for a custodian or bailee pursuant to FNMA guidelines.
To facilitate the operation of this Section, the Developer shall at all times keep the Town provided with an up-to-date list of names and addresses of Mortgage Holders, and the Town may rely upon such list.
The Bylaws may be amended in the manner provided for therein, but no amendment of such Bylaws shall be adopted which would affect or impair the validity or priority of any deed of trust covering any Condominium Parcel(s), or which would change the provisions of the Bylaws with respect to Eligible Mortgage Holders without the written approval of all Eligible Mortgage Holders.
If there is a taking of substantially all of the Project, the Owners may terminate the legal status of the Project and, if necessary, bring a partition action under California Civil Code § 1359 or any successor statute, on the election to terminate by both of the Owners and the approval of Eligible Mortgage Holders holding mortgages on Condominiums which have at least fifty-one percent (51%) of the votes of Condominiums subject to Eligible Holder Mortgages.
All amendments made under authority of this Section 6.2 shall be executed by the President or the Secretary of the Association, which officer shall also certify that such amendment has been approved (or deemed approved) by the requisite number of Unit Owners and Eligible Mortgage Holders (it being acknowledged that all approving Unit Owners and Eligible Mortgage Holders are not required to sign such amendment).
No amendment of the preceding sentence may be made without the consent of both of the Owners of Condominiums and the consent of the Eligible Mortgage Holders holding First Mortgages on Condominiums comprising fifty-one percent (51%) of the Condominiums subject to First Mortgages.
Any amendment to the Bylaws, as provided herein, shall be approved by the Unit Owners and Eligible Mortgage Holders as required in this Article and in Article VI above, shall be certified by the President or Secretary of the Association, and shall be recorded in the Register’s Office for Davidson County, Tennessee.
In the event that the Town gives written notice to the Developer of default under this Agreement, the Town shall forthwith furnish a copy of the notice to each of the Mortgage Holders whose name and address has theretofore been provided to the Town by either the Developer or the Mortgage Holder.
Notwithstanding the provisions of this Article VI, the Declaration and the exhibits hereto, where applicable, may be amended by Developer without the consent of the Unit Owners or Eligible Mortgage Holders in order to correct scrivener’s errors.