Mortgaged Property Clause Samples
The 'Mortgaged Property' clause defines the specific assets or interests that are being pledged as security for a loan or other financial obligation. This clause typically details the real estate, fixtures, improvements, and sometimes related rights or personal property that are subject to the mortgage. By clearly identifying what property is encumbered, the clause ensures both parties understand the scope of the lender's security interest, thereby reducing disputes and providing clarity in the event of default or foreclosure.
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Mortgaged Property. The real property securing repayment of the debt evidenced by a Mortgage Note.
Mortgaged Property. The real property securing repayment of the debt evidenced by a Mortgage Note, or with respect to a Cooperative Loan, the Cooperative Apartment.
Mortgaged Property. The underlying property, including real property and improvements thereon, securing a Mortgage Loan.
Mortgaged Property. Land and improvements securing the indebtedness of a Mortgagor under the related Mortgage Loan or, in the case of REO Property, such REO Property.
Mortgaged Property. 23 Mortgagor....................................................................23
Mortgaged Property. Mortgagee......................................................
Mortgaged Property. The Mortgagor’s real property, securing repayment of a related Mortgage Note, consisting of an interest in a single parcel of real property, improved by a residential dwelling.
Mortgaged Property. Either of (x) the fee simple interest in real property, together with improvements thereto including any exterior improvements to be completed within 120 days of disbursement of the related Mortgage Loan proceeds, or (y) in the case of a Cooperative Loan, the related Cooperative Shares and Proprietary Lease, securing the indebtedness of the Mortgagor under the related Mortgage Loan.
Mortgaged Property. The underlying real property securing repayment of a Mortgage Note, consisting of a single parcel of real estate considered to be real estate under the laws of the state in which such real property is located which may include condominium units and planned unit developments, improved by a residential dwelling; except that with respect to real property located in jurisdictions in which the use of leasehold estates for residential properties is a widely-accepted practice, a leasehold estate of the Mortgage, the term of which is equal to or longer than the term of the Mortgage.
Mortgaged Property. The underlying property, including any Additional Collateral, securing a Mortgage Loan which, with respect to a Cooperative Loan, is the related Cooperative Shares and Proprietary Lease.