Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.
Park Monaco: Park Monaco Inc., a Delaware corporation, and its successors and assigns, in its capacity as the seller of the Park Monaco Mortgage Loans to the Depositor.įirst Mortgage Loan means a Mortgage Loan secured by a First Mortgage. Park Granada Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Granada is the applicable Seller.
PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule 3. Pool 2 Mortgage Loans Any Mortgage Loan in Pool 2. Mortgage shall have the meaning assigned to such term in the recitals.ĪRD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.ĮMC Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which EMC is the applicable Seller. Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1. The dock will provide recreational water access to the New Meadows River as well as access to the applicant’s residents on Long Island from the mainland. The refinancing of the Prior Mortgage (provided for by the terms of the Wraparound Mortgage) and the increase of $_ in the amount secured by the Underlying Mortgage does not evidence or create a new or further indebtedness or obligation, but rather reduces the equity of _, the holder of the Wraparound Mortgage, which remains fully liable for the payment of the debt service under the Underlying Mortgage.
#Wraparound mortgage definition full#
The Company also extended the Wraparound Mortgage on such property to mature May 1, 2008.ĭLC shall clearly mark the Wraparound Promissory Note to indicate the xxxisfaction of the indebtedness and obligations with respect to the Wraparound Mortgage Note evidenced thereby and the release and discharge of the Partnership from any further liability or obligation with respect thereto.ĭLC and the Partnership have agreed to the transfer of the assets of the Partnership to DLC in full settlement of the outstanding amounts under the Wraparound Note in exchange for the release of all remaining obligations of the Partnership under the Wraparound Mortgage. However the quorum will remain at 3 members in terms of the 2013 regulations.Ĭaraway, Note, Unwrapping the Wraparound Mortgage Foreclosure Process, 47 WASH. I am the of, a, which is the owner (the "Owner") of that certain Wraparound Mortgage dated (the "Wrap Mortgage") in the principal sum of $ executed by Owner encumbering the premises commonly known as, , New York, recorded on in the office of the Register/County Clerk of the County of in, which Wrap Mortgage was, and still is, subject to the "Prior Mortgage" as hereafter defined. I am the of, a,which is the owner (the "Owner") of that certain Wraparound Mortgage dated (the "Wrap Mortgage") in the principal sum of $ executed by Owner encumbering the premises commonly known as, New York, recorded on in the office of the Register/County Clerk of the County of in Reel/Liber at page, which Wrap Mortgage was, and still is, subject to the "Prior Mortgage" as hereafter defined. I am the Managing Member of, a New York Limited Liability Company, which is the owner (the "Owner") of that certain Wraparound Mortgage dated (the "Wrap Mortgage") in the principal sum of $ executed by Owner encumbering the premises commonly known as, , New York, recorded on, in the office of the Register/County Clerk of the County of in Reel/Liber at page, which Wrap Mortgage was, and still is, subject to the "Prior Mortgage" as hereafter defined. Examples of Wraparound Mortgage in a sentence
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