Upon Mortgagee definition

Upon Mortgagee s election to so retain Mortgage Escrow Amounts in accordance with the foregoing, Mortgagor shall deposit in the Mortgage Escrow Account a sum sufficient to pay accrued insurance premiums (the "Premiums") for all of the Insurance Policies and Impositions assessed against the Real Property, for one (1) year or, with respect to Impositions, the tax year then in effect, as the case may be, for the number of months elapsed as of the date of such election since the last preceding installment of said Premiums or Impositions shall have become due and payable, including the month in which such last preceding installment of Premiums or Impositions became due and payable and the month in which Mortgagee makes such election. During each month thereafter, until Mortgagee shall elect that the provisions of this Section 4.5 shall no longer be applicable, Mortgagor shall deposit in the Mortgage Escrow Account with respect to the Mortgage Escrow Amounts a sum equal to one-twelfth of such Premiums and Impositions for the then-current insurance period and tax year, so that as each installment of such Premiums and Impositions shall become due and payable, Mortgagee shall have accumulated at least thirty (30) days prior to the due date a sum sufficient to pay the same. If the amount of such Premiums and Impositions has not been definitely ascertained at the time when any such monthly deposits are to be retained, Mortgagor shall deposit into the Mortgage Escrow Account Mortgage Escrow Amounts based upon the amount of such Premiums and Impositions for the preceding year, subject to adjustment as and when the amount of such Premiums and Impositions are ascertained.
Upon Mortgagee s request, Mortgagor shall deliver the appraisal to Mortgagee at Mortgagor's sole cost and expense.

Examples of Upon Mortgagee in a sentence

  • Upon Mortgagee furnishing to Mortgagor an affidavit stating that the Note has been mutilated, destroyed, lost or stolen (and an indemnity regarding the same if the Note is found), Mortgagor shall deliver to Mortgagee, in substitution therefor, a new note containing the same terms and conditions as the Note, with a notation thereon of the unpaid principal balance and accrued and unpaid interest thereon.

  • Windows should be set back into their original position within the depth of the reveal*.

  • Any such objection by Lifesize will require Customer to appoint another auditor or conduct the audit itself.

  • Upon Mortgagee giving Lessee the written notice referred to in the preceding sentence, the subordination of such Prior Encumbrances to the Lease shall be self-operative and no further instrument shall be required to effectuate such subordination of such Prior Encumbrances to the Lease.

Related to Upon Mortgagee

  • Eligible Mortgagee means the holder of a security interest on a unit that has filed with the secretary of the association a written request that it be given copies of notices of any action by the association that requires the consent of mortgagees.

  • Mortgagee The mortgagee or beneficiary named in the Mortgage and the successors and assigns of such mortgagee or beneficiary.

  • First Mortgagee means the holder of any First Mortgage.

  • Facility Mortgagee means the holder of any Facility Mortgage.

  • Leasehold Mortgagee means the holder of a Leasehold Mortgage.

  • FHA Approved Mortgagee A corporation or institution approved as a mortgagee by the FHA under the Act, and applicable HUD regulations, and eligible to own and service mortgage loans such as the FHA mortgage loans.

  • Leasehold Mortgage means a mortgage, a deed of trust, a deed to secure debt, or other security instrument by which the Leasehold is mortgaged, conveyed, assigned, or otherwise transferred to secure a debt or other obligation.

  • Assignment of Mortgage An assignment of the Mortgage, notice of transfer or equivalent instrument in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage to the Purchaser.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Non-MERS Mortgage Loan Any Mortgage Loan other than a MERS Mortgage Loan.

  • Facility Mortgage As defined in Section 13.1.

  • Mortgagor The obligor on a Mortgage Note.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Non-MERS Eligible Mortgage Loan Any Mortgage Loan other than a MERS Eligible Mortgage Loan.

  • Superior Landlord means the person for the time being who owns the interest in the Premises which gives him the right to possession of the Premises at the end of the Landlord’s lease of the Premises.

  • Mortgagor's Name Address: Loan No.: Reason for requesting file:

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

  • Ground Lessor means each lessor that has executed a Ground Lease (collectively, the “Ground Lessors”).

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Owner Mortgage Loan File A file maintained by the Custodian for each Mortgage Loan that contains the documents specified in Section 2.01(a) and any additional documents required to be added to the Owner Mortgage Loan File pursuant to this Agreement.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.