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Subordination, Non-Disturbance and Attornment Agreement
A renewable energy system located on the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). that converts sunlight into electricity and/or a battery storage system containing lithium ion batteries or equivalent technology capable of storing electricity received from the electric grid or a renewable energy system and delivering stored electricity to the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .
Laws prohibiting multifamily housing providers from
- offering adverse terms and conditions, or
- refusing to lease to individuals or families based on their lawful source of income, including Housing Choice VouchersHousing Choice VouchersAny rental assistance payment or voucher to an eligible tenant under Section 8 of the United States Housing Act of 1938, 42 U.S.C. § 1437f, as amended. .
Team performing Fannie Mae’s Special Servicing that can be contacted at [email protected].
Special Flood Hazard Area designated by FEMAFEMAFederal Emergency Management Agency .
ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. implementing Non-Performing Mortgage LoanNon-Performing Mortgage LoanMortgage Loan with an uncured default. loss mitigation actions, including
- Fannie Mae,
- you, or
- a third-party.
PrincipalPrincipalPerson who owns or controls specified interests in the Borrower per Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 303: Key Principals, Principals, and Guarantors. equity owner and/or primary decision maker of the BorrowerBorrowerPerson who is the obligor per the Note. (often the Key PrincipalKey PrincipalPerson who controls and/or manages the Borrower or the Property, is critical to the successful operation and management of the Borrower and the Property, and/or may be required to provide a Guaranty. or the PersonPersonLegal person, including an individual, estate, trust, corporation, partnership, limited liability company, financial institution, joint venture, association, or other organization or entity (whether governmental or private). ControllingControllingPossessing, directly or indirectly, the power to direct or cause the management and operations of an entity (e.g., through the ownership of voting securities or other ownership interests, or by contract). the Key PrincipalKey PrincipalPerson who controls and/or manages the Borrower or the Property, is critical to the successful operation and management of the Borrower and the Property, and/or may be required to provide a Guaranty. ).
Voluntary rent and income restrictions recorded against the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). by the BorrowerBorrowerPerson who is the obligor per the Note. to preserve or create multifamily affordable housing.
Percentage of PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). units physically occupied by Qualified OccupantsQualified OccupantsParty occupying a dwelling unit in a Property in full compliance with a lease. , per Part II, Chapter 1: Attributes and Characteristics, Section 105.02: Qualified Occupants as adjusted for the applicable Part III products and features.
Credit enhancement under which Fannie Mae makes principal and interest payments directly to the Bond Trustee (for payment to bondholders) if the Borrower fails to make required mortgage note payments or if a bankruptcy event has occurred.