Common use of Completion and Recordation of Assignment of Mortgage Clause in Contracts

Completion and Recordation of Assignment of Mortgage. To the extent permitted by applicable law, each of the Assignments of Mortgage is subject to recordation in all appropriate public offices for real property records in all the counties or other comparable jurisdictions in which any or all of the Mortgaged Properties are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected at the Servicer's expense at the direction of the Owner. At the Owner's direction and expense (provided that the Servicer shall be responsible only for such expenses with respect to the first set of Assignments of Mortgages prepared and recorded after the related Closing Date), the Servicer shall cause the endorsements on the Mortgage Note, the Assignment of Mortgage, and the assignment of security agreement to be completed. Notwithstanding the transfer of rights pursuant to any Assignments of Mortgage, the Servicer shall remain liable for the expenses associated with the preparation, endorsement and recordation with respect to the first set of Assignments of Mortgages prepared and recorded after the related Closing Date.