Additional Matters with Respect to the Mortgage Loan Clause Samples
The "Additional Matters with Respect to the Mortgage Loan" clause outlines supplementary terms and conditions that apply specifically to the mortgage loan beyond the standard provisions. This may include requirements for maintaining insurance, restrictions on property use, or obligations regarding payment of taxes and assessments. By addressing these extra considerations, the clause ensures that both lender and borrower are aware of and agree to specific responsibilities, thereby reducing the risk of misunderstandings or disputes related to the mortgage loan.
Additional Matters with Respect to the Mortgage Loan any Companion Loan and the Whole Loan.
(a) In the event that the Mortgage Loan Sellers (a “Repurchasing Seller”) repurchases its Trust Notes (each, a “Repurchased Note”) in accordance with Section 2.8 of this Agreement and Section 8 of the Mortgage Loan Purchase Agreement, and one or more Companion Notes remain outstanding and are held by one or more Other Securitization Trusts, the Servicer and Special Servicer agree that pursuant to Sections 2 and 5 of the Co-Lender Agreement, the provisions of this Agreement and the Co-Lender Agreement shall continue to apply with respect to the servicing and administration of the Whole Loan (and the Mortgage Loan Sellers have agreed to such provisions in the Mortgage Loan Purchase Agreement) until such time as the related successor holders of the Trust Notes and the Companion Loan Holders have entered into a replacement servicing agreement with respect to the Whole Loan or the Companion Notes are repurchased from their respective Other Securitization Trusts.
(b) Custody of the respective Loan Documents shall be held exclusively by the Custodian, and record title under the respective Loan Documents shall be held exclusively by the Trustee, on behalf of the Certificateholders, as provided under this Agreement, except that the Repurchasing Seller shall hold and retain title to its original Repurchased Notes and any related endorsements thereof.
(i) Payments from the Borrower or any other amounts received with respect to each Note shall be collected as provided in this Agreement by the Servicer and shall be applied to each related Note in accordance with the Co-Lender Agreement, subject to Section 3.29(b)(ii). In the event that the Mortgaged Property becomes Foreclosed Property, payments or any other amounts received with respect to the Whole Loan shall be collected and shall be applied to each Note in accordance with the Co-Lender Agreement and this Agreement, subject to Section 3.29(b)(ii). Payments or any other amounts received with respect to the related Repurchased Note shall be held in trust by the Servicer for the benefit of the Repurchasing Seller and remitted (net of the Servicing Fees, Special Servicing Fees, Certificate Administrator Fees (including that portion of the Certificate Administrator Fees that represents the Trustee Fees, which are payable to the Trustee) and any Trust Fund Expenses, Property Protection Advances and any interest accrued thereon at the Advance Rate that are allocable to or attributable...