Examples of Commercial Lot in a sentence
Since the payments under the note following a purchase of the Hotel Lot and Commercial Lot would have been substantially the same as the minimum payments due to SILV under the management agreement, there is no detrimental effect on the Company’s cash flow as a result of this rescission.
Based on the terms of the September 2005 agreements, and assuming the purchase is completed, the Company’s management and ownership of the Hotel and Commercial Lot beyond January 2008 is subject to certain contingencies, which include standards regarding the quality of the operations.
It is the parties intent, and a condition to the closing herein, that Sweeney transfer the Real Proxxxxx xo Investments prior to closing, by warranty deed, free and clear of all encumbrances except a first lien mortgage on the Commercial Lot of approximately $387,000 held by Murdock Savings & Loan Mortgagx (xx successor or assign); and a first lien mortgage on Residential Lot of approximately $55,000, held by Midland Mortgage (or successor or assign.).
The combined purchase price is twenty four million dollars ($24,000,000), which would be 100% financed by SILV by means of a non-recourse, 25-year loan secured by a mortgage on the Hotel and Commercial Lot.
Transferee or Assignee of ------------------------------------------------------- Industrial or Commercial Lot.