Examples of Second Security in a sentence
In order to secure payments which the Secretary may make to or on behalf of Borrower pursuant to Section 255(i)(1)(A) of the National Housing Act and the Loan Agreement, the Secretary has required Borrower to execute a Second Note and a Second Security Instrument on the Property.
If the Security Instrument has been assigned to the Secretary or the Secretary notifies Lender and Borrower that Loan Advances are secured by the Second Security Instrument, Lender shall have no further obligation to make Loan Advances under this Loan Agreement, unless the Secretary accepts later reimbursement by the Lender for all Loan Advances made, earned or disbursed by the Secretary.
Lender shall have no obligation to make further Loan Advances if the Lender or the Secretary determines that the lien status of the Security Instrument or the Second Security Instrument is jeopardized under State laws as described in Paragraph 12(a) of the Security Instrument or Second Security Instrument and the lien status is not extended in accordance with Paragraph 12(a).
The report addressed the need to finalize the Section 37 contributions.
SECOND SECURITY AGREEMENT AMENDMENT The undersigned, as a Secured Party, hereby executes and delivers the Second Security Agreement Amendment to which this signature page is attached, which, together with all counterparts of the Second Security Agreement Amendment and signature pages of the other parties named in said Second Security Agreement Amendment, shall constitute one and the same document in accordance with the terms of the Second Security Agreement Amendment.