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Under a wrap, a seller accepts a secured promissory note from the buyer for the amount due on the underlying mortgage plus an amount up to the remaining purchase money balance. The new purchaser makes monthly payments to the seller, who is then responsible for making the payments to the underlying mortgagee (s).
The mortgage promissory note includes the borrower’s “promise to pay” the loan. It also lists the consequences should the borrower pay late or miss a payment, along with:
In the United States, under the Uniform Commercial Code, a negotiable instrument (such as a check or promissory note) that is payable to the order of "bearer" or "cash" may be enforced (i.e. redeemed for payment) by the party in possession. The payee (i.e. the person named in the "pay to" line) may also convert an instrument into a bearer ...
Hazle Township is located in the southern portion of Luzerne County; it surrounds most of Hazleton and West Hazleton. Its numbered routes include I-81, PA 93, PA 309, PA 424, PA 924, and PA 940. Hazleton Regional Airport is situated in the northern half of the township. Most of the community is made up of homes and businesses.
The document used by lenders to obtain a lien on real property is a mortgage or deed of trust. The security agreement sets out the various rights the grantee will have with respect to the collateral, which are in addition to all other rights which the lender may have by law, such as those rights contained in Article 9 of the Uniform Commercial ...
The Financially Distressed Municipalities Act (Act of 1987, P.L. 246, No. 47), also known as Act 47, is a Pennsylvania statute outlining procedures to stabilize municipalities in Pennsylvania undergoing financial distress.
Students culminate their schooling with grades 9 through 12 at the Hazleton Area High School, or Academy of Science building. As of the 2023-24 school year, the Hazleton Area School District had 12,609 students and 751 faculty members for a teacher-student ratio of 16.79, according to National Center for Education Statistics data. [12]
A permanent home came in December 1948 when the college purchased 26 hilltop acres (110,000 m 2) in Sugarloaf Township which, for nearly 25 years, had served as the residential estate of local coal baron Eckley B. Markle. Known as “Highacres,” the site consisted of four buildings that gave the college the space it so desperately needed.
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