Nevada § 106.345 “Principal” defined

Nevada Statutes

§ 106.345 — “Principal” defined

Nevada·Title 9 SECURITY INSTRUMENTS OF PUBLIC UTILITIES; MORTGAGES;·Ch. 106 Real· ENCUMBRANCE TO SECURE FUTURE ADVANCES

“Principal” means the money a lender advances to a borrower as a loan which, separately or together with other advances, is intended to be evidenced by the face amount of a note, bond or other similar document. The term does not include any interest, advances made to protect security or advances which would not have been made if the borrower and all other parties to the agreement relating to the loan or future advances had complied with its terms even if the obligations contained in the agreement were secured by an instrument.

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“Principal” means the money a lender advances to a borrower as a loan which, separately or together with other advances, is intended to be evidenced by the face amount of a note, bond or other similar document. The term does not include any interest, advances made to protect security or advances which would not have been made if the borrower and all other parties to the agreement relating to the loan or future advances had complied with its terms even if the obligations contained in the agreement were secured by an instrument.

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