Common use of Delivery of Mortgage Files Clause in Contracts

Delivery of Mortgage Files. The Seller shall, as directed by the Purchaser, deliver and release to the Custodian no later than five (5) Business Days prior to the related Closing Date (or, with respect to not more than 25% of the Mortgage Loans, at least three (3) Business Days prior to the related Closing Date) the Mortgage Files with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased by the Purchaser on the related Closing Date. The Custodian shall certify its receipt of all such Mortgage Files for the related Closing Date to the Purchaser, as evidenced by the Initial Certification of the Custodian in the form annexed to the Custodial Agreement. The Seller shall forward to the Custodian, or to such other Person as the Purchaser shall designate in writing, original documents evidencing an assumption, modification, consolidation or extension of any Mortgage Loan entered into in accordance with this Agreement within two weeks of their execution, provided, however, that the Seller shall provide the Custodian, or to such other Person as the Purchaser shall designate in writing, with a certified true copy of any such document submitted for recordation within two weeks of its execution, and shall promptly provide the original of any document submitted for recordation or a copy of such document certified by the appropriate public recording office to be a true and complete copy of the original within ninety days of its submission for recordation.

Delivery of Mortgage Files. The Seller shall, as directed by the Purchaser, deliver and release to the Custodian no later than five (5) Business Days prior to the related Closing Date (or, with respect to not more than 25% of the Mortgage Loans, at least three (3) Business Days prior to the related Closing Date) Date the Mortgage Files with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased by the Purchaser on the related Closing Date. The Custodian shall certify its receipt of all such Mortgage Files for the related Closing Date to the Purchaser, as evidenced by the Initial Certification of the Custodian in the form annexed to the Custodial Agreement. The Seller shall forward to the Custodian, or to such other Person as the Purchaser shall designate in writing, original documents evidencing an assumption, modification, consolidation or extension of any Mortgage Loan entered into in accordance with this Agreement within two weeks of their execution, provided, however, that the Seller shall provide the Custodian, or to such other Person as the Purchaser shall designate in writing, with a certified true copy of any such document submitted for recordation within two weeks of its execution, and shall promptly provide the original of any document submitted for recordation or a copy of such document certified by the appropriate public recording office to be a true and complete copy of the original within ninety days of its submission for recordation.