Earlier editions published under the title: Anatomy of a mortgage. Includes bibliographical references and index.
Contents:
What is a letter of intent? -- Letter of intent cover letter -- Letter of intent term sheet -- Key note provisions -- Background; bad-boy acts -- Other comments on the carve out guaranty -- Definitions -- Grant of real estate interests -- Grant of personal property interest -- Assignment of rents -- Assignment of leases; other lease covenants -- Variable interest rates in mortgage loans -- Other prepayment premiums -- Representations and warranties -- Taxes; operating expenses -- Deposits for taxes, insurance, and other charges -- Application of payments -- Compliance with laws -- Use of property -- Inspection -- Books and records; financial reporting and other reports -- Liens; encumbrances -- Preservation, management, and maintenance of the mortgaged property -- Environmental hazards -- Property and liability insurance -- Condemnation -- Borrower bankruptcy remoteness; separateness covenants -- Transfers of the mortgaged property interests in borrower -- Protection of lender's security -- Events of default -- Acceleration; remedies -- Remedies cumulative -- Forbearance -- Exculpation -- Waiver of marshaling -- Further assurances -- Estoppel certificate -- Governing law; consent to jurisdiction and venue -- Notice -- Sale of note; change in service -- Successors and assigns bound -- Joint and several liability -- No third-party beneficiary -- Severability; amendments -- Disclosure of information -- Release -- State-specific statutory provisions -- Waiver of trial by jury.
Summary:
"This Book endeavors to provide the reader with an understanding of the basic concepts of real estate finance provisions that a lawyer must know and understand in order to provide effective counsel to borrowers in the context of closing a commercial real estate loan. This goal will be accomplished through the detailed analysis of key provisions contained in real estate mortgages and several other key mortgage loan documents. Lawyers new to the practice of real estate finance can benefit greatly from a highly practical evaluation of these key provisions, because in most instances they represent very important aspects of a mortgage transaction"--Provided by publisher.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.