Reimbursement Mortgage definition

Reimbursement Mortgage means the Multifamily Deed of Trust, Assignment of Rents and Security Agreement dated as of the date hereof from the Borrower to Freddie Mac, together with all riders and addenda thereto, granting a second priority mortgage and security interest in the Project to Freddie Mac to secure the obligations of the Borrower under the Reimbursement Agreement and all documents related thereto.

Reimbursement Mortgage means the Multifamily Mortgage, Assignment of Rents and Security Agreement dated as of November 1, 2008, from the Borrower to Freddie Mac, together with all riders and addenda thereto, granting a second priority mortgage and security interest in the Project to the Freddie Mac to secure the obligations of the Borrower under the Reimbursement Agreement and all documents related thereto, and upon the effectiveness of any Alternate Credit Facility, any similar mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance granting a mortgage and security interest in the Project to the Alternate Credit Facility Provider to secure similar obligations of the Borrower to the Alternate Credit Facility Provider, as the same may be amended, supplemented or restated.

Reimbursement Mortgage means, (i) prior to the Conversion Date, the Construction Leasehold Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Credit Bank), and the Construction Fee Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Credit Bank), each dated as of November 1, 2009, from the Borrower and the City of San Xxxx Financing Authority, respectively, to the Construction Phase Credit Facility Provider and to be assigned to Xxxxxxx Mac and simultaneously amended and restated on the Conversion Date in the forms attached to the Construction Phase Financing Agreement, as the same may be further amended, restated or supplemented from time to time; and (ii) from and after the Conversion Date, collectively, the Amended and Restated Second Multifamily Fee Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (California), and the Amended and Restated Second Multifamily Leasehold Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (California), together with, in each case, all riders and addenda thereto, from the City of San Xxxx Financing Authority and the Borrower, respectively, for the benefit of Xxxxxxx Mac, each securing the Borrower’s obligations under the Xxxxxxx Mac Reimbursement Agreement, as each such Bond Mortgage may from time to time be amended, modified or supplemented.

Examples of Reimbursement Mortgage in a sentence

• The Reimbursement Mortgage and all documents to which Owner is a party delivered in connection with the Reimbursement Mortgage have been validly authorized and executed by the Owner.

• Any tax parcel or parcels within which the Mortgaged Property is located does not include property that is not subject to the Reimbursement Mortgage.

• In the case of each of the Mortgaged Properties, the Reimbursement Mortgage prohibits the applicable Owner from owning substantial assets other than its Mortgaged Property and prohibits the applicable Owner from engaging in any business enterprises other than the operation of its Mortgaged Property.

• There exists no unrepaired or unrestored damage to the Mortgaged Property from fire or other casualty since the date of the Reimbursement Mortgage that would materially and adversely affect its value as security for the Reimbursement Mortgage, or, if such damage exists, sufficient funds have been escrowed to fully restore the Mortgaged Property to the same size and density as existed prior to such casualty, and such restoration is permitted under all applicable building and zoning laws and regulations.

• The Reimbursement Mortgage, if and when properly recorded in the appropriate records, together with any Uniform Commercial Code financing statements required to be filed therewith, creates a valid, perfected second line on the Mortgaged Property, subject only to the Bond Mortgage and the exceptions set forth in Schedule B of the title insurance policy issued to Xxxxxxx Mac regarding the Reimbursement Mortgage in accordance with the terms thereof.

More Definitions of Reimbursement Mortgage

Reimbursement Mortgage means that certain Multifamily Mortgage, Assignment of Rents and Security Agreement dated May 27, 1999, together with all riders and addenda thereto, from the Owner granting a first priority mortgage and a security interest in the Project to Xxxxxxx Mac to secure the obligations of the Owner under this Agreement, as the same may be amended, modified or supplemented from time to time.

Reimbursement Mortgage means the Second Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing dated as of the date hereof from the Borrower to Freddie Mac, together with all riders and addenda thereto, granting a second priority mortgage and security interest in the Project to Freddie Mac to secure the obligations of the Borrower under the Reimbursement Agreement and all documents related thereto, and upon the effectiveness of any Alternate Credit Facility, any similar mortgage, deed of trust, deed to secure debt, security interest or other lien or encumbrance granting a mortgage and security interest in the Project to the Alternate Credit Facility Provider to secure similar obligations of the Borrower to the Alternate Credit Facility Provider, as the same may be amended, supplemented or restated from time to time.

Reimbursement Mortgage means the Second Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (California) Together With Ground Lessor Subordination and Joinder, dated as of July 1, 2010, from the Borrower and the Authority to Freddie Mac, as the same may be further amended, restated or supplemented from time to time.

Reimbursement Mortgage means (a) prior to Conversion, the Leasehold Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing, dated as of July 30, 2009, from the Borrower to the Initial Construction Phase Credit Facility Provider, together with a joinder thereto, to be executed by the Fee Owner and to be assigned to the Initial Permanent Phase Credit Facility Provider on the Conversion Date, as the same may be amended, restated or supplemented from time to time, and (b) from and after the Conversion Date, the Amended and Restated Second Leasehold Multifamily Deed of Trust, Assignment of Rents and Security Agreement and Fixture Filing, dated as of the date of the Conversion Date, from the Borrower to the Initial Permanent Phase Credit Facility Provider, as the same may be amended or supplemented from time to time.

Reimbursement Mortgage means, for each Bond Property, the separate second priority Multifamily Mortgage, Deed of Trust or Deed to Secure Debt, Assignment of Leases and Rents and Security Agreement given by a Borrower to or for the benefit of Fannie Mae to secure the reimbursement and related obligations of Borrower under this Agreement in respect of the Credit Enhancement Facility. The amount secured by the Reimbursement Mortgage shall be equal to the Credit Enhancement Facility Commitment in effect from time to time.

Reimbursement Mortgage means any mortgage securing Xxxxxxx Mac’s reimbursement obligations related to such loan.

Reimbursement Mortgage means the Multifamily Deed of Trust, Assignment of Rents and Security Agreement, dated as of the date of the Indenture, from the Borrower for the benefit of Freddie