As a name, Fergus forms a link between Ireland and Scotland, as Gaelic tradition has it that Irish Prince Fergus Mac Eirc and his two brothers crossed the sea and founded the kingdom of Argyll in Scotland, thereby making this an excellent choice for parents of either ora combined heritage.n Celtic lore, Fergus was the ideal of manly courage; Fergus is a charming, slightly quirky Scottish and Irish favorite.
Soâ¦What is the mortgagee clause? The mortgagee clause is the legal description of the entity that has financial interest in any piece of property. Typically, the mortgagee clause contains the name and address of the lender as well as the loan number. Pretty straightforward. You may also see the following letters or words contained in the mortgagee clause.
Release Clause. In some mortgages, a clause allowing part of the property that has been pledged to have its lien removed once the borrower has made a defined number of payments on the mortgage. release clause. A mortgage clause that allows a partial release of some of the collateral when the borrower pays off a portion of the loan. Typically found in subdivision development mortgages, because the development lender must release its lien in order for the purchaser-homeowner to secure his or her own first mortgage financing.