Subordinate Deed definition
Examples of Subordinate Deed in a sentence
Borrower is the owner of the real property located in the County of Boulder, Colorado, which is legally described on Exhibit A, attached hereto and incorporated herein by reference (“Property”) subject to the Subordinate Deed of Trust (described below).
The Subordinate Note, Subordinate Deed of Trust and all other documents and agreements related to the Subordinate Loan are collectively referred to herein as the “Subordinate Loan Documents”).
The Affiliated Subordinate Deed of Trust will be recorded in the records of San Francisco County, California immediately following the recordation of the Affiliated Deed of Trust and will be subject and subordinate to the Affiliated Deed of Trust.
The Lender shall file, register, or record in a timely manner and in such place as is required by law, each Subordinate Deed of Trust and other documents required to be so filed, registered or recorded to perfect the lien created by such Subordinate Deed of Trust against all third parties (subject to the First Deed of Trust in connection with the First Mortgage Loan).
The Unsecured Indemnity Agreement, the Guaranty, the Affiliated Guaranty and the Affiliated Guarantor Subordinate Deed of Trust are not Loan Documents and shall survive repayment of the Loan or other termination of the Loan Documents as and to the extent provided therein.
The indebtedness evidenced by this Note is secured by, among other things, the Subordinate Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing dated as of December 1, 2018 (as amended, the “Mortgage”), from the Borrower to the deed of trust trustee named therein for the benefit of the Trustee.
Grantor shall not, without the prior written consent of Beneficiary, grant any lien, security interest, or other encumbrance (hereinafter called "Subordinate Deed of Trust") covering any of the Mortgaged Property.
Trustor will not execute or deliver any ------------------------- pledge, security agreement, mortgage or deed of trust covering all or any portion of the Property ("Subordinate Deed of Trust").
The Loan Documents shall provide that, if Borrower is not in default under any of the terms of the Note or the Subordinate Deed of Trust, then Borrower shall not be required to make any payments of principal or interest and the balance due under the Note shall be reduced by twenty-five percent (25%) of the original Loan Amount at the five, ten, fifteen, and twenty year anniversaries of the date of the Note, such that the Loan balance will be $0.00 after 30 years.
The Senior Loan Documents shall constitute a lien upon the Collateral which is unconditionally and under all circumstances (including, without limitation, any impairment of the lien ofthe Subordinate Deed of Trust and Subordinate Lender's security interest in the Collateral) prior to the lien of the Subordinate Loan Documents.