Examples of New Borrower in a sentence
New Borrower and Xxxxxx agree that the provisions of the Security Instrument are modified as set forth in Exhibit B attached hereto and incorporated herein by reference.
The undersigned parties agree that all obligations under the Note, the Loan Agreement, the Security Instrument and the other Loan Documents (as defined in the Assumption Agreement) secured by the Mortgaged Property described on Exhibit A, have been assumed by New Borrower upon the terms and conditions set forth in the Assumption Agreement.
New Borrower acknowledges that Xxxxxx will record or cause to be recorded in the land records of the Property Jurisdiction an executed original of the Memorandum of Loan Assumption and Modification Agreement in the form attached as Exhibit C (“Memorandum of Assumption”).
New Borrower unconditionally assumes and agrees to be bound by all terms, provisions, and covenants of the Note, the Loan Agreement, the Security Instrument, and the other applicable Loan Documents as if New Borrower had been the original maker of the Note and the original borrower under the Loan Documents.
New Borrower will pay all sums to be paid and will perform each obligation to be paid or performed by Original Borrower under and in accordance with the terms and conditions of the Note, Security Instrument, Loan Agreement, and all other Loan Documents (each, as modified by this Assumption Agreement) assumed by New Borrower.