Eligible Mortgagee definition

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.

Eligible Mortgagee means the holder of a mortgage on a unit

Eligible Mortgagee means any Person owning a mortgage on any Lot, which mortgage is first in priority upon foreclosure to all other mortgages that encumber such Lot, and which has requested the Association, in writing, to notify it regarding any proposed action which requires approval by a specified percentage of Eligible Mortgagees.

Examples of Eligible Mortgagee in a sentence

• The Association shall permit any Eligible Mortgagee to inspect the books and records of the Association during normal business hours.

• Consent of an Eligible Mortgagee is deemed granted if no denial is received within thirty (30) days after the Eligible Mortgagee receives notice of the proposed changes.

• The Association shall provide any Eligible Mortgagee, which submits a written request, with a copy of an annual financial statement within one hundred twenty (120) days following the end of each fiscal year of the Association.

• Such financial statement shall be audited by an independent certified public accountant if the number of Units is 50 or more, or if the number of Units is less than 50 and no audited statement is otherwise required under the Constituent Documents, any Eligible Mortgagee may have an audited statement prepared at its own expense.

• Notwithstanding the above, the approval of any proposed amendment by an Eligible Mortgagee shall be deemed implied and consented to if the Eligible Mortgagee fails to submit a response to any written proposal for an amendment within thirty (30) days after the Eligible Mortgagee receives notice of the proposed amendment sent by certified or registered mail, return receipt requested.

More Definitions of Eligible Mortgagee

Eligible Mortgagee means the holder of a security interest

Eligible Mortgagee means and refer to a mortgagee, beneficiary under a trust deed, or lender who has requested notice in writing of certain matters from the Association in accordance with this Declaration.

Eligible Mortgagee means the holder of a mort- gage on a unit that has filed with the secretary of the associa- tion a written request that it be given copies of notices of any action by the association that requires the consent of mort- gagees.

Eligible Mortgagee means the holder of a security

Eligible Mortgagee means and refer to a Mortgagee of a First Mortgage who requests notice of certain matters from the Association in accordance with Section 8.2.

Eligible Mortgagee means an “eligible mortgagee” as defined in the CIC Act.

Eligible Mortgagee means and refer to a First Mortgagee, which has requested notice of certain matters from the Association in accordance with Section 13.1 of this Declaration.