Band Mortgage definition

Band Mortgage means, individually and collectively, each mortgage granted by the Band to Great Lakes securing the Lakes Development Note and the Non-Gaming Land Acquisition Line of Credit, which shall be substantially in the form of the mortgage granted by Pokagon Properties, LLC to Lakes dated March 9, 2000, with appropriate changes reasonably acceptable to Great Lakes and the Band reflecting the change to the Band as mortgagor and to Great Lakes as mortgagee.
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Band Mortgage means a loan issued by Council to the member for the purposes of residential housing construction;
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Examples of Band Mortgage in a sentence

  • Prior to transfer of the Gaming Site or Non-Gaming Lands into trust, amounts advanced under the Lakes Development Note and under the Non-Gaming Land Acquisition Line of Credit shall be secured by a Band Mortgage or Band Designee Mortgage on all such properties.

  • Great Lakes' designee shall only be entitled to enforce the Band Designee Mortgage against the Band Designee to the extent that, and in the same manner as, Great Lakes would be entitled to enforce a Band Mortgage against the Band.

  • Lakes' designee shall only be entitled to enforce the Band Designee Mortgage against the Band Designee to the extent that, and in the same manner as, Lakes would be entitled to enforce a Band Mortgage against the Band.

  • Prior to transfer of the Gaming Site or Non-Gaming Lands into trust, amounts advanced by Lakes under the Lakes Note and under the Non-Gaming Land Acquisition Line of Credit shall be secured by a Band Mortgage or Band Designee Mortgage on all such properties.

Related to Band Mortgage

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Lost Mortgage Note Any Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of February 14, 2020, between the Borrower, as borrowers, and the Original Lenders, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • Mortgage Note The original executed note or other evidence of indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • 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.

  • Jumbo Mortgage Loan is a collective reference to Jumbo Mortgage Loans (Standard Limit) and Jumbo Mortgage Loans (Specialty).

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

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

  • 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.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.