Sums Secured definition

Sums Secured means the unpaid balance of amounts described below in the section titled “Borrower’s Transfer to Lender of Rights in the Property.”
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Sums Secured. The amounts described below in the section titled “Borrower’s Transfer to Lender of Rights in the Property” sometimes will be called the “Sums Secured.”
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Sums Secured. The amounts described below in the section titled "Borrower's Transfer to Lender of Rights in the Property" sometimes will be called the "Sums Secured". BORROWER'S TRANSFER TO LENDER OF RIGHTS IN THE PROPERTY I mortgage, grant and convey the Property to Lender subject to the terms of this Security Instrument. This means that, by signing this Security Instrument, I am giving Lender those rights that are stated in this Security Instrument and also those rights that the law gives to Lenders who hold mortgages on real property. I am giving Lender these rights to protect Lender from possible losses that might result if I fail to: (A) Pay all the amounts that I owe Lender as stated in this Note; (B) Pay, with interest, any amounts that Lender spends under Paragraphs 2 and 7 of this Security Instrument to protect the value of the Property and Lender's rights in the Property; and (C) Keep all of my other promises and agreements under this Security Instrument; NEW YORK--Single Family-- ▇▇▇▇▇▇ ▇▇▇/▇▇▇▇▇▇▇ Mac UNIFORM INSTRUMENT form 3033 10/91 I Item 1930 (9111) (Page 1 of 12 pages) Initials:_________ DESCRIPTION OF PROPERTY I give Lender rights in the Property described in (A) through (G) below: (A) The Property which is located at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ [▇▇▇▇▇▇] ▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ This property is in [City] [Zip Code] MONROE County. It has the following legal description: SEE SCHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF. Mortgagors covenant that the within described premises is a dwelling or residence for not more than two families. (B) All buildings and other improvements that are located on the Property described in subparagraph (A) of this section; (C) All rights in other property that I have as owner of the Property described in subparagraph (A) of this section. These rights are known as "easements and appurtenances attached to the Property"; (D) All rights that I have in the land which lies in the streets or roads in front of, or next to, the Property described in subparagraph (A) of this section; (E) All fixtures that are now or in the future will be on the Property described in subparagraph (A) and (B) of this section; (F) All of the rights and property described in subparagraphs (B) through (E) of this section that I acquire in the future; and
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Examples of Sums Secured in a sentence

  • This means that any one of us may be required to pay all of the Sums Secured.

  • This is known as “Foreclosure and Sale.” In any lawsuit for Foreclosure and Sale, Lender will have the right to collect all costs and disbursements and additional allowances allowed by Applicable Law and will have the right to add all reasonable attorneys’ fees to the amount I owe Lender, which fees shall become part of the Sums Secured.

  • When I have paid all of the Sums Secured, Lender will promptly refund to me any Funds that are then being held by Lender.

  • Lender may use such monies to pay off any part of the Sums Secured without affecting ▇▇▇▇▇▇’s right to continue foreclosure and sale.

  • Lender may require Immediate Payment in Full of all Sums Secured by this Security Instrument if all or any part of the Property, or if any right in the Property, is sold or transferred without ▇▇▇▇▇▇’s prior written permission.

  • If Lender deems the restoration or repair not to be economically feasible or Lender’s security would be lessened by such restoration or repair, the Miscellaneous Proceeds will be applied to the Sums Secured, whether or not then due, with the excess, if any, paid to me.

  • If Lender deems the restoration or repair not to be economically feasible or Lender’s security would be lessened by such restoration or repair, the insurance proceeds will be applied to the Sums Secured, whether or not then due, with the excess, if any, paid to me.

  • Any amounts paid by Lender for costs associated with reinstating my insurance policy or with placing new insurance under this Section 5 will become my Sums Secured.

  • This Section 10 will terminate when all the Sums Secured are paid in full.

  • In the event of a Partial Devaluation where the fair market value of the Property immediately before the Partial Devaluation is less than the amount of the Sums Secured immediately before the Partial Devaluation, all of the Miscellaneous Proceeds will be used to reduce the Sums Secured, whether or not the sums are then due, unless the Lender and I otherwise agree in writing.


More Definitions of Sums Secured

Sums Secured. This mortgage secures to the Lender repayment of the Loan, the payment of interest on the Loan and the payment from time to time of all other sums due from the Borrower to the Lender on any account whatsoever. If a Default Event occurs all amounts secured by this mortgage shall become immediately due and payable. The Borrower covenants to pay all such monies to the Lender.
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Sums Secured means the unpaid balance of amounts described below in the section titled “Borrower’s Transfer to Lender of Rights in the Property”.
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Related to Sums Secured

  • Notes Secured Parties means the Secured Noteholders, the Notes Collateral Agent and the Notes Trustee.

  • U.S. Secured Parties the “Secured Parties” as defined in the U.S. Guarantee and Collateral Agreement.

  • Secured means when referring to a Claim: (a) secured by a Lien on property in which the Estate has an interest, which Lien is valid, perfected, and enforceable pursuant to applicable law or by reason of a Bankruptcy Court order, or that is subject to setoff pursuant to section 553 of the Bankruptcy Code, to the extent of the value of the creditor’s interest in the Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code; or (b) Allowed pursuant to the Plan or separate order of the Bankruptcy Court as a secured claim.

  • U.S. Security Documents means the U.S. Security Agreement, any deposit account control agreements or securities account control agreements covering the deposit accounts or securities accounts of the U.S. Note Parties and any other security agreements, pledges, or similar agreements or documents executed in connection therewith.

  • U.S. Secured Obligations means all Secured Obligations of the US Loan Parties.