Mortgager definition
Examples of Mortgager in a sentence
Each Escrow Account shall be evidenced by an Escrow Account Certification, in the form of Exhibit 7 and shall be entitled "Countrywide Home Loans, Inc., as servicer, in trust for the Purchaser and various Mortgagors, Fixed and Adjustable Rate Mortgage Loans." The Seller shall ensure that all interest credited to any account that is not due the respective Mortgager is removed by the Seller within thirty (30) days of receipt of such interest.
In the event Mortgager shall improve the Mortgaged Property thereby constructing buildings or other improvements thereon, then Mortgagor shall carry adequate insurance against all liability and hazards, including without limitation, fire and casualty insurance for the mortgaged property as are usually carried by entities engage in the same or a similar business situated as Mortgagor.
The Mortgagee has reminded the Mortgager to understand comprehensively and exactly the terms and conditions of the Contract and explained for corresponding terms and conditions hereof at the requirements of the Mortgager.
In any foreclosure action, Mortgager shall be entitled to appointment of a receiver.
Mortgager or pledgor is in breach of mortgage or pledge contracts, or there are any false or inaccurate representation and warranties in the pledge or mortgage contracts.
If the Collateral shall be insured, relevant matters of the insurance shall be subject to the following agreement: During the existence of the mortgage, the Mortgager shall complete the procedures of the Collateral’s insurance in accordance with the kind and premium specified by the Mortgagee and shall not break off or cancel the insurance for any reason.
If the Collateral has been insured without noting the information of the person who enjoys the priority of compensation, the Mortgager shall note or modify that the Mortgagee shall be the person with the first priority.
Once the Master Contract is declared to be invalid, the Mortgager shall still be liable for any debt incurred in the course of returning assets or compensating for the loss by the Debtor.
The Mortgagee is entitled to require the Mortgager to resume the value of the Collateral within fifteen (15) days or provide the guarantee equivalent to the impaired value.
Mortgager shall, however, comply with all restrictive covenants that may at any time affect the Mortgaged Property, zoning ordinances and other public or private restrictions as to the use of the Mortgaged Property.