Extract to table

Nor is a "purchased CEMA" or third-party mortgage acquisition strategy feasible, because any existing mortgage to be consolidated must encumber the same Property

This assumption must be confirmed upon receipt of the final title commitment

The tax must be paid at the time of recording, and the City Register will not accept a mortgage for recording unless the tax is paid or an exemption is demonstrated

We do not recommend pursuing this structure absent specific client instruction, and we note that the MRT savings of $13,300,000, while substantial in absolute terms, must be weighed against the costs, delays, and execution risks of the IDA approach

Tax Law § 255 and the applicable NYSDTF and NYC DOF guidance, the existing mortgage to be consolidated must encumber the same property that the new mortgage will encumber

A representation that Ironclad will not unreasonably withhold, condition, or delay its consent to a mortgage assignment for CEMA purposes, and that any consent fee payable to Ironclad in connection with such assignment shall be limited to Ironclad's reasonable out-of-pocket costs (including legal fees)