The Mortgagor Clause Samples
The Mortgagor clause defines the party who is borrowing money and granting a mortgage over their property as security for the loan. In practical terms, this clause identifies the individual or entity responsible for repaying the loan and complying with the terms of the mortgage agreement, such as maintaining the property and keeping it insured. By clearly designating the mortgagor, the clause ensures there is no ambiguity about who holds the primary obligations under the mortgage, thereby protecting the lender’s interests and facilitating enforcement if necessary.
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The Mortgagor. The Mortgagor is one or more natural persons and/or an Illinois land trust or a “living trust” and such “living trust” is in compliance with the Underwriting Guidelines;
The Mortgagor. The Mortgagor is one or more natural persons and/or an Illinois land trust or a "living trust" and such "living trust" is in compliance with ▇▇▇▇▇▇ Mae or ▇▇▇▇▇▇▇ Mac guidelines. In the event the Mortgagor is a trust, the trustee of such trust is a natural person and is an obligor under the Mortgage Note in his or her individual capacity;
The Mortgagor. The Mortgagor may not assign or transfer any of its rights or obligations under this Deed.
The Mortgagor. The Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under a “living trust” and such “living trust” is in compliance with ▇▇▇▇▇▇ ▇▇▇ or Freddie Mac Guide and the related Underwriting Guidelines applicable at the time of origination of the related Mortgage Loan. In the event the Mortgagor is a trustee of a “living trust,” such trustee is a natural person and is an obligor under the Mortgage Note in his or her individual capacity. As of the time of origination, the Mortgagor was legally entitled to reside in the United States. Evidence of residency status for a the Mortgagor has been validated in accordance with the Underwriting Guidelines. The Mortgagor was not the subject of a bankruptcy proceeding that was dismissed or discharged in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the Mortgage Loan. The Mortgagor has not previously owned a property with respect to which a foreclosure sale was completed or with respect to which title was conveyed to the originator or a deed in lieu of foreclosure was given, in each case for which the Mortgagor was the borrower or owner of record, in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the related Mortgage Loan.
The Mortgagor. The Mortgagor is a natural person, a trustee for an Illinois land trust or a trustee under a “living trust,” and such “living trust” is in compliance with ▇▇▇▇▇▇ ▇▇▇ or ▇▇▇▇▇▇▇ Mac guidelines. In the event the Mortgagor is a trust, the trustee of such trust is a natural person and is an obligor under the Mortgage Note in his or her individual capacity.
The Mortgagor. The Mortgagor is one or more natural persons aged sixty-two (62) or older.
The Mortgagor. Except as set forth on Schedule 5-A(h), the Mortgagor is one or more natural persons aged sixty-two (62) or older who is not deceased and (to the extent required under Underwriting Guidelines) is otherwise an eligible borrower under the HUD Handbook. Except as set forth on Schedule 5-A(h), for each Mortgage Loan where the related ▇▇▇▇▇▇▇▇▇ was married, both the Mortgagor and the spouse were co-borrowers with respect to the Mortgage Loan and both executed all of the related Mortgage Loan Documents and the Principal Limit on the Mortgage Loan was based on the age of the younger spouse.
The Mortgagor the Borrower and the Firm hereby expressly and irrevocably permit and authorize the Mortgagee and SingFinance Group of Companies to act in their sole discretion in any way they deem fit, without prior reference to them when served with a court order issued by the Singapore courts or a court of any other country in the world and will not hold the Mortgagee and/or SingFinance Group of Companies liable for any loss or damage incurred or suffered as a result of the actions of the Mortgagee and/or SingFinance Group of Companies in complying with the orders.
The Mortgagor. Company shall not at any time during the continuance of this security make or purport or attempt to create without the consent of the Mortgagee-Corporation in writing first had and obtained, any Mortgage, lien or charge by way of hypothecation, pledge or otherwise howsoever or any other encumbrance of any kind, whatsoever, on the Mortgaged Properties or any part thereof or its other tangible moveable assets.
The Mortgagor. The Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under a “living trust” and such “living trust” is in compliance with F▇▇▇▇▇ M▇▇ or F▇▇▇▇▇▇ Mac guidelines applicable at the time of origination of the related Mortgage Loan. In the event the Mortgagor is a trustee of a “living trust,” such trustee is a natural person and is an obligor under the Mortgage Note in his or her individual capacity. As of the time of origination, the Mortgagor was and is either a United States citizen or a permanent resident alien who has the right legally to live and work permanently in the United States. Evidence of residency status for a permanent resident alien has been validated by documentation acceptable to F▇▇▇▇▇ Mae and F▇▇▇▇▇▇ Mac. The Mortgagor was not the subject of a bankruptcy proceeding that was dismissed or discharged in the seven (7) years prior to the origination of the Mortgage Loan. The Mortgagor has not previously owned a property with respect to which a foreclosure sale was completed or with respect to which title was conveyed to the Originator or a deed in lieu of foreclosure was given, in each case for which the Mortgagor was the borrower or owner of record, in the seven (7) years prior to the origination of the related Mortgage Loan;