12 Guam Code Ann. § 4210
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Terms Used In 12 Guam Code Ann. § 4210
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Proceeds from the Trust shall be used exclusively for Interest Free Loans and the 3/2 Option provisions in participation with an underlying mortgage by a participating Financial Institution. The Interest Free Loan shall be subordinate to the underlying loan by the Financial Institution but shall not be subordinate to any other debt or debenture.