Anatomy of Mortgage Loan Documents
American Bar Association (Verlag)
978-1-63905-112-0 (ISBN)
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Author Lawrence Uchill, a veteran real estate attorney, draws on his experience by providing a detailed analysis of key provisions contained in real estate mortgages and several other related mortgage loan documents. The book uses many provisions which were previously utilized in the Federal National Mortgage Association ("Fannie Mae") Deed of Trust form for multifamily housing, but it adds to those provisions and includes others that are also commonly used in commercial real estate loan transactions.
The author’s analysis is based on provisions used for income-producing property, and the provisions relate to the "commercial" nature of the property, such as the treatment of property rents. The loan provisions discussed are intended to be relatively evenhanded and sometimes contain points that the borrower's counsel would want to seek on behalf of his/her client. In addition to discussion of the provisions, alternatives, and possible deficiencies for a borrower are enhanced by the author’s guidance on strategies to employ when negotiating these provisions.
Organized around the provisions of a mortgage, this book also covers relevant provisions in other important loan documents such as the Note, Loan Agreement and Assignment of Leases and Rents. Each section of this book follows an easy-to-understand format, introducing a specific provision of a key loan document, followed by the verbatim text and then commentary on the provision. The commentary explains:
What the applicable loan provision means
What functions the provision serves
Potential problems with the application or enforcement of the provision from a lender's or borrower's perspective
Basic information about pitfalls to watch out for from a borrower’s counsel perspective, as well as suggestions to how to deal with the situation
Providing a thorough analysis of the provisions in a real estate mortgage, the analysis and commentary for each provision is useful both for lawyers well-seasoned in commercial mortgage loan practice, as well as for attorneys new to real estate law.
Larry Uchill concentrates in real estate and structured finance, particularly focusing on issues related to mezzanine and structured financing. He negotiates and supervises real estate acquisitions, dispositions of real estate financings, and joint ventures throughout the United States and various regions of the world. He recently represented a mezzanine loan fund which formed and syndicated the last CDO fund to close in the United States. Mr. Uchill has handled all aspects of financings, acquisitions, dispositions, and development of major transactions involving private sector and governmental parties in commercial, military housing, apartment, wind energy, retail, hotel, energy conservation, and mixed-use real estate projects. His experience also encompasses sale leasebacks, office and retail leasing, REITs, joint ventures, real estate syndications, wind turbine projects, commercial condominiums, title, zoning and subdivision analysis, construction contracts, bankruptcy, bidding, interest swaps, S&P ratings, project and capital financings, mezzanine debt financing, credit tenant lending, 1031 transactions, asset recovery, loan workouts, and related corporate work. Mr. Uchill has also been recognized in The Best Lawyers in America for real estate law in every edition since 1995, and he has repeatedly been named a Massachusetts Super Lawyer by Law & Politics and Boston magazines. Recent Matters Repesented a major investment bank in originating 2 portfolio mortgage loans and related mezzanine financings involving involving dozens of single asset commercial and retail properties located throughout the United States, which originations were specifically tailored to be sold in a securitization involving the sale of over $300 million in pass-through certificates, whcich securitization was the first multi-borrower securitzation closed in the United States, since the 2007 economic melt-down. Represented The Port Authority of New York and New Jersey, along with many other DLA colleagues, in connection with the restructuring of various entities and agreements related to the development of the World Trade Center Project, including creating various pledge agreements and ancillary documentation, associated with enhancing the security for certain agreements entered into by the Port Authority with the developer of this project. Representation of several funds organized and managed by Rubicon Asset Management and the Greenwich Group International involving (i) in the case of one fund, real estate mezzanine financings which provide incremental loan proceeds to senior mortgage loans being offered by major US investment banks; and (ii) in the case of the other fund, the acquisition of real estate and joint venture interests in major commercial product projects and the formation of a REIT to act as the fund's interface with the ownership of these assets. Represented a major developer in conncection with forming joint ventures with major funds, and reveiwing mortgage financing documents, regarding several major commercial real estate projects on the East Coast. Represented a mezzanine fund in connection with an approximately $65 million mezzanine participation interest that was part of a total debt stack of $26.4 billion in connection with Blackstone's acquisition of Equity Office Portfolio. Represented mezzanine fund in a mezzanine financing which was part of a $1.8 billion capital stack involving the acquisition of 137 office buildings located in Atlanta, Houston, Orlando and Charlotte. In connection with this closing negotiated separate intercreditor agreement and participation agreement with sub-participant in the mezzanine financing. Represented a lender in origination of $42 million mezzanine construction loan which was part of a total debt stack of $230 million used in connection with the development of a residential condominium building in New York City. Served as lender's counsel in connection with a $40 million construction financing and $21 million of senior and junior financing to Ridge Crest Wind Partners, LLC (an affiliate of Cinergy Corp.) involving the development of 33 wind turbines and related equipment and transmission lines in Peetz Table, Colorado. Served as counsel for American Eagle, which is actively acquiring interests in military housing projects involving the U.S. Army, Navy and Air Force in a housing initiative that involves rehabilitation of existing housing and construction of new housing, as well as financing of these products through rated bonds in the capital markets. Served as lender's counsel for Morgan Keegan in connection with multiple credit tenant financings throughout the U.S. Served as lender's counsel for Fleet National Bank in connection with the construction financing of the Arch Street Tower in Boston. Served as transaction counsel to Credit Suisse First Boston Corporation in structuring, documenting, and implementing a securitized national store construction and permanent financing program for CVS Corporation, one of the largest retail pharmacy companies in the U.S., which resulted in the financing of over $100 million of new store construction across the country. Publications Author of Anatomy of Mortgage Loan Documents - Imderstamdomg amd Negotiating Commercial Real Estate Loan Documents. American Bar Association Chapter 9 – “Rating of Asset-Backed and Mortgage-Backed Securities,” in Securitization: Asset-Backed and Mortgage-Backed Securities, Lexis Publishing . Presentations and Seminars Mr. Uchill was a panelist at the 2004 European Wind Energy Conference and Exhibition (EWEC) in London, England, where he addressed some of the current financing issues facing the wind energy industry. In that discussion, he introduced an innovative solution to mitigate wind yield risk in wind turbine projects. Adjunct Professor in Securitization and Structured Finance, Boston University School of Law since 1996 Professional Memberships Massachusetts Bar Associations New york Bar Association Civic and Charitable Organizations President, Massachusetts Future Problem Solvers
| Erscheinungsdatum | 28.04.2023 |
|---|---|
| Zusatzinfo | Illustrations |
| Verlagsort | Chicago, IL |
| Sprache | englisch |
| Maße | 152 x 228 mm |
| Themenwelt | Recht / Steuern ► EU / Internationales Recht |
| Recht / Steuern ► Privatrecht / Bürgerliches Recht ► Sachenrecht | |
| Recht / Steuern ► Wirtschaftsrecht ► Bank- und Kapitalmarktrecht | |
| Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen | |
| Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Immobilienwirtschaft | |
| ISBN-10 | 1-63905-112-0 / 1639051120 |
| ISBN-13 | 978-1-63905-112-0 / 9781639051120 |
| Zustand | Neuware |
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