Future advances of principal made to a borrower after the receipt of the notice of termination by the lender are not secured by the instrument. The principal amount of indebtedness secured by the instrument is limited to the amount stated by the lender in the lender’s recorded statement.
(Added to NRS by 1985, 726; A 1989, 493)
Structure Nevada Revised Statutes
NRS 106.020 - Adoption by reference before March 1, 1967.
NRS 106.025 - Adoption by reference on and after March 1, 1967.
NRS 106.030 - Mortgage secures performance of covenants adopted by reference.
NRS 106.040 - Adoption by reference in instrument.
NRS 106.050 - Parties may enter into different or additional covenants.
NRS 106.195 - Mortgage of estate for years.
NRS 106.200 - Effect of recorded mortgage upon possessory claims to public lands or mining claims.
NRS 106.240 - Extinguishment of lien created by mortgage or deed of trust upon real property.
NRS 106.270 - Discharge of mortgages on filing of certificates specifying satisfaction or payment.
NRS 106.280 - Certificates of discharge: Recording.
NRS 106.295 - Request by mortgagor for certified copy of note, mortgage and assignments.
NRS 106.310 - "Borrower" defined.
NRS 106.320 - "Future advance" defined.
NRS 106.330 - "Instrument" defined.
NRS 106.340 - "Lender" defined.
NRS 106.345 - "Principal" defined.
NRS 106.360 - Execution, enforceability, contents and amendment of instrument.
NRS 106.370 - Priority of lien.
NRS 106.390 - Effect of notice of termination.
NRS 106.400 - Advances made after notice of termination.
NRS 106.500 - Borrower’s instruction to suspend and close equity line of credit: Form; effect.