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Value based upon the sum of the gross sales prices of all units (subject to discounts on rent restricted units) plus the aggregate UPBUPBUnpaid Principal Balance of all existing Mortgage LoansMortgage LoansMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. (prior to any proposed refinancing) secured by a LienLienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. on the Cooperative PropertyCooperative PropertyMultifamily residential property owned by a Cooperative Organization. .
Periodic fee assessed each shareholder or owner of a Cooperative OrganizationCooperative OrganizationCorporation or legal entity where each shareholder or equity owner is granted the right to occupy a unit in a multifamily residential property under a proprietary lease or occupancy agreement. to fund costs and expenses associated with ongoing operations of the Cooperative PropertyCooperative PropertyMultifamily residential property owned by a Cooperative Organization. .
Cooperative Maintenance FeesCooperative Maintenance FeesPeriodic fee assessed each shareholder or owner of a Cooperative Organization to fund costs and expenses associated with ongoing operations of the Cooperative Property. due the Cooperative OrganizationCooperative OrganizationCorporation or legal entity where each shareholder or equity owner is granted the right to occupy a unit in a multifamily residential property under a proprietary lease or occupancy agreement. that are more than 30 days past due.
Financial analysis or valuation of a Cooperative PropertyCooperative PropertyMultifamily residential property owned by a Cooperative Organization. conducted as if it were operated as a conventional multifamily property subject to applicable rental restrictions.
Liquid funds, including loan proceeds, controlled by the Cooperative OrganizationCooperative OrganizationCorporation or legal entity where each shareholder or equity owner is granted the right to occupy a unit in a multifamily residential property under a proprietary lease or occupancy agreement. to cover operating and capital expenses, and comprised of unrestricted cash, less the sum of accounts payable.
Corporation or legal entity where each shareholder or equity owner is granted the right to occupy a unit in a multifamily residential property under a proprietary lease or occupancy agreement.
Multifamily residential property owned by a Cooperative OrganizationCooperative OrganizationCorporation or legal entity where each shareholder or equity owner is granted the right to occupy a unit in a multifamily residential property under a proprietary lease or occupancy agreement. .
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). who invested in, converted, or is converting a residential rental apartment building to a Cooperative PropertyCooperative PropertyMultifamily residential property owned by a Cooperative Organization. and continues to own unsold shares in the Cooperative OrganizationCooperative OrganizationCorporation or legal entity where each shareholder or equity owner is granted the right to occupy a unit in a multifamily residential property under a proprietary lease or occupancy agreement. .
Independent third-party audit report itemizing the Property'sProperty'sMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). construction and development costs, including a statement of eligible and qualified basis, submitted to the state housing finance agency to obtain IRS Form 8609(s).
Approved loss mitigation activities for Non-Performing Mortgage LoansNon-Performing Mortgage LoansMortgage Loan with an uncured default. .