Examples of Second Mortgage in a sentence
The portion of the proceeds of the sale and delivery of the 2024 Series A Bonds deposited into the 2024 Series A subaccount of the Acquisition Account pursuant to Section 4.1 hereof shall be applied to purchase (i) 2024 Series A Xxxxxx Xxx Certificates backed by 2024 Series A Mortgage Loans and (ii) up to $5,000,000 of Second Mortgage Loans.
The 2024 Series B Governmental Mortgage Loans and any Second Mortgage Loans shall be purchased at par and paid from the 2024 Series B subaccount of the Acquisition Account.
Any Second Mortgage Loans shall be purchased at par and paid from the 2024 Series A subaccount of the Acquisition Account.
The 2024 Series A Bonds are authorized to finance (i) the purchase of 2024 Series A Xxxxxx Xxx Certificates backed by 2024 Series A Mortgage Loans for Eligible Borrowers purchasing Residential Housing, (ii) the purchase of Second Mortgage Loans, and (iii) to pay the costs of issuance of the 2024 Series A Bonds.
The 2024 Series B Bonds are authorized to finance (i) the purchase of 2024 Series B Xxxxxx Xxx Certificates backed by 2024 Series B Mortgage Loans for Eligible Borrowers purchasing Residential Housing, (ii) the purchase of Second Mortgage Loans, (iii) the purchase of 2024 Series B Governmental Mortgage Loans, and (iv) to pay the costs of issuance of the 2024 Series B Bonds.