Permanent First Mortgage definition

Permanent First Mortgage means the permanent financing provided by the Permanent Lender for the Apartment Complex in the initial principal amount of $507,669 and which is to be assumed by the Partnership.
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Permanent First Mortgage means the mortgage loan to the Partnership from Chase Community Development Corporation in the amount of up to $318,000 to be obtained by the Partnership in accordance with the Permanent First Mortgage Commitment.
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Examples of Permanent First Mortgage in a sentence

  • All operational doors must be fitted with a positive locking mechanism.

  • ONE anticipates closing this project in April 2016 and completing construction within 13 months.The Permanent First Mortgage is a pass through loan with Citizens of $390,000.

  • Hillside Village - Ware Deb Morse then presented a proposal for Prepayment of Existing MassHousing Loan and Commitment of Taxable Permanent First Mortgage Loan for Hillside Village in Ware.

  • Notwithstanding any other provisions of this Note, all liens, claims, charges, and priorities related to the Authority Bridge Loan contemplated by this Note shall be subordinate and junior to all liens, claims, charges, and priorities related to that certain deed of trust loan made to Borrower by the lender of the Construction First Mortgage Loan and the lender of the Permanent First Mortgage Loan.

  • The Borrower has closed all Approved Financing described in Section 1.1(c) except the AHP Loan, the Permanent First Mortgage Loan and the HCD Loan.Section 2.7 Conditions Precedent to Disbursement.

  • The degree of the implementation of the instructions was not known.In 1907, the director of education of Konya, Hulusi Bey, wrote a report about conditions of education in Konya, districts and villages that belonged to Konya.

  • The original principal amount of the Permanent First Mortgage Loan shall be the then outstanding balance due under the Interim First Mortgage Loan (and not more), and the proceeds thereof shall be used to fully pay off and discharge the Interim First Mortgage Loan.

  • Monthly Debt Service Component" of Base Rent shall mean the sum of (a) either (i) Interim First Mortgage Monthly Debt Service Amount or (ii) the Permanent First Mortgage Monthly Debt Service Amount, whichever is then applicable, plus (b) the Second Mortgage Monthly Debt Service Amount, as more particularly defined in Schedule BR.

  • Do a range of physical activities such as fitness, strength, balance and flexibility.• You should build up at least 30 minutes of moderate intensity physical activity on most, preferably all, days.• If you are starting a new physical activity, start at a level that is easy and slowly build up the recommended amount, type and frequency of activity.• If you already do vigorous physical activity, you should carry on doing so in a way that suits your ability as you get older.

  • Further clarification of what is considered a Home Occupation follows.Home Occupations: in compliance with state law 24 V.S.A. § 4412(4) Home Occupations not requiring a Permit will be conducted in a fashion that is invisible to the character, quality, and nature of the community and the neighborhood.A business that is not customary to a residential area is not considered a Home Occupation.

Related to Permanent First Mortgage

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

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

  • 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.

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

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

  • Mortgage Amendments as defined in Section 6.11(a).

  • 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.

  • First Mortgagee means the holder of any First Mortgage.

  • Aircraft Mortgage means that “Aircraft Mortgage” as defined in Section 4.01(e), as the same may be amended, restated, modified, supplemented, extended or amended and restated from time to time.

  • Mortgage Amendment has the meaning set forth in Section 6.12(a).

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

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Construction Loan Agreement means the Construction Loan Agreement between Lender and Borrower for construction on the Land.

  • mortgage agreement ’ means the note or debt instrument and the mortgage instrument, deed of trust instrument, trust deed, or instru- ment or instruments creating the mortgage, including any instrument incorporated by ref- erence therein (including any applicable regu- latory agreement), and any instrument or agreement amending or modifying any of the foregoing;

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Senior Loan Agreement means that certain Term Loan Agreement, dated as of June 26, 2015, by and among Borrower and Senior Lenders, as amended, restated, supplemented or otherwise modified from time to time.

  • 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.

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

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

  • Preliminary Mortgage Schedule As defined in Section 3.

  • Existing Mortgages means the Mortgages executed and delivered in connection with the Existing Credit Agreement.

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Farm-Out Agreement means a Farm-In Agreement, viewed from the standpoint of the party that transfers an ownership interest to another.