Fee Mortgage Sample Clauses
A Fee Mortgage is a legal instrument that secures a loan by granting the lender a lien on the borrower's full ownership interest in real property, known as the fee simple estate. In practice, this means the lender can foreclose on the property and sell it to recover the outstanding debt if the borrower defaults on the loan. This clause typically applies to commercial or residential real estate transactions where the property serves as collateral. Its core practical function is to protect the lender's financial interest by providing a clear mechanism for recourse in the event of non-payment.
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Fee Mortgage. Fee Mortgage" shall mean any Mortgage at any time given by Landlord and remaining uncancelled on the Official Records, encumbering all or any portion of Landlord's right, title and estate in the Land or in this Lease.
Fee Mortgage. Landlord shall not have any right to execute, deliver or record a Fee Mortgage during the Term of this Lease. Landlord represents and warrants that no Fee Mortgage exists as of the Commencement Date.
Fee Mortgage. Landlord represents and warrants to Tenant that there are no existing mortgages or deeds of trust encumbering the Land as of the date hereof, and there will be no such mortgages or deeds of trust existing as of the Possession Date.
Fee Mortgage. Landlord shall have the right at any time during the Term to subject its interest in the Premises, the Building, the Complex and/or this Lease to any one or more mortgages on Landlord’s interest therein (“Fee Mortgage”) and to renew, modify, consolidate, replace, extend and/or refinance any such Fee Mortgage. Landlord shall be entitled to all of the proceeds from any such Fee Mortgage at any time effected pursuant hereto.
Fee Mortgage. This Lease and the Premises are not currently subject to any mortgage or deed of trust. Any Fee Mortgage hereafter covering Landlord's interest in the fee estate of the tract or parcel of land comprising the Premises shall be subject to Tenant's interest under this Lease and further subject to the rights of a Leasehold Mortgagee in the Lease pursuant to a Leasehold Mortgage. Further, Tenant shall not be permitted to subordinate its interest in this Lease to any Fee Mortgagee. Fee Mortgagee shall prior to becoming the Fee Mortgagee or concurrently therewith, in writing and in recordable form, acknowledge the provisions of this Lease and agree, following any foreclosure thereof or acceptance of a conveyance in lieu of foreclosure, to be liable for the performance of each and every covenant, agreement, term, and provision of this Lease from and after the date of its succession during its period of ownership as though such Fee Mortgagee was the original Landlord under this Lease and further provided that any other assignee, transferee, successor, or purchaser of such Fee Mortgagee's interest in any such Fee Mortgage or in the Premises shall be bound and liable likewise. Upon written request from Tenant or Leasehold Mortgagee, Fee Mortgagee and Landlord shall enter into a non-disturbance and attornment agreement in reasonable form memorializing the provisions contained in this Lease.
Fee Mortgage. Landlord shall comply with the terms and provisions of each Fee Mortgage and any Regulatory Agreement for Multifamily Housing Projects with HUD to which Landlord is a party.
Fee Mortgage. The lien of any mortgage now or hereafter placed upon the fee title to the Premises (a “Fee Mortgage”) shall be subject and subordinate to this Lease and to any amendments of this Lease; provided, however, that so long as any Fee Mortgage shall constitute a lien on the fee title to the Premises no amendment hereafter made to this Lease (i) to reduce the amount of rent payable by Tenant hereunder or (ii) to increase Landlord’s obligations in any way shall be binding upon the holder of any Fee Mortgage and any such holder shall be entitled to enforce this Lease in accordance with its terms prior to such amendment.
Fee Mortgage. Landlord shall have the right at any time during the Lease Term, without the consent of Tenant, to subject its fee interest in the Demised Premises, or any part thereof, but not any property of Tenant, to any one or more mortgages, deeds of trust, deeds to secure debt or similar security instrument (as it may be renewed, modified, consolidated, replaced, or extended a "Fee Mortgage"). The owner or holder of any Fee Mortgage as to which Tenant has received written notice shall be referred to as the "Fee Mortgagee". This Lease (including, without limitation, Tenant's leasehold estate and other rights hereunder) shall not be subject or subordinate to any Fee Mortgage except pursuant to the terms of a Subordination, Non-Disturbance and Attornment Agreement (an “SNDA”) to be entered into between Landlord, Tenant and the holder of the Fee Mortgage and in a form acceptable to all parties. The form of SNDA attached to this Lease as Exhibit D is acceptable to Landlord and Tenant.
Fee Mortgage. Unless Mortgagee otherwise consents, the acquisition of any fee title or other interest in the Leased Land or the Improvements by Mortgagor, whether pursuant to an option in the Lease or otherwise, shall not result in a merger of the leasehold estate with such fee title or other interest. In the event that Mortgagor acquires any such fee title or other interest, such fee title or other interest shall be subject to the terms of this Mortgage.