Obligations of Custodian. (a) Custodian shall maintain continuous custody of all items constituting the Mortgage Files in secure facilities in accordance with customary standards for such custody and shall reflect in its records the interest of Buyer therein. Each Mortgage Note and Credit Line Agreement, as applicable (and Assignment of Mortgage), shall be maintained in fire resistant facilities.
Obligations of Custodian. Custodian shall hold all documents received by it constituting the Mortgage File and shall make disposition thereof only in accordance with the instructions of Company and the terms of this Agreement. The Mortgage File shall be appropriately marked and identified to clearly reflect that such documents are held by Custodian, as agent on behalf of Company.
Obligations of Custodian. 10 Section 5. Takeout Provisions; Funding by Takeout Investor....................10 Section 6. Future Defects.....................................................11 Section 7. Release for Payment................................................12
Obligations of Custodian. (a) On and after the Purchase Date, with respect to the Asset Files, and other documents delivered to Custodian or which come into the possession of Custodian, Custodian is the custodian for Buyer, exclusively. The Custodian shall hold all documents received by it for the exclusive use and benefit of Buyer, and shall make disposition thereof only in accordance with this Agreement and the Written Instructions furnished by Buyer. The Custodian shall segregate and maintain continuous custody of the Asset Files and the Submission Packages in secure and fire resistant facilities in accordance with customary industry standards for custody of similar documents.
Obligations of Custodian. (a) On and after the Closing Date, with respect to the Mortgage Files, and other documents delivered to Custodian or which come into the possession of Custodian, Custodian is the custodian for Owner, exclusively. The Custodian shall hold all documents received by it for the exclusive use and benefit of Owner, and shall make disposition thereof only in accordance with this Agreement and the Written Instructions furnished by the Trustee. The Custodian shall segregate and maintain continuous custody of the Mortgage Files and the Submission Packages in secure and fire resistant facilities in accordance with customary standards for such custody. The Custodian shall review each Mortgage File on or before the Closing Date, and certify to the Trustee, the Securities Administrator, the NIMS Insurer, if any, the Depositor and the Servicer in substantially the form attached hereto as Exhibit H-1 that, as to each Mortgage Loan listed in the Custodial Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in the exception report annexed thereto as not being covered by such certification), (i) all documents constituting part of such Mortgage File required to be delivered to it pursuant to this Agreement are in its possession, (ii) such documents have been reviewed by the Custodian and are not mutilated, torn or defaced unless initialed by the related borrower and relate to such Mortgage Loan and (iii) based on the Custodian’s examination and only as to the foregoing, the information set f xxxx in the Mortgage Loan Schedule that corresponds to items (i), (ii), (ix), (xii), (xiv) (to the extent of the Periodic Rate Cap for the first Adjustment Date and subsequent Adjustment Dates) and (xvi) of the definition of “Mortgage Loan Schedule” accurately reflects information set forth in the Mortgage File. It is herein acknowledged that, in conducting such review, the Custodian is not under any duty or obligation (i) to inspect, review or examine any such documents, instruments, certificates or other papers to determine whether they are genuine, enforceable, or appropriate for the represented purpose (including with respect to Section 2.01(f) of the Trust Agreement, whether such title insurance policy (a) contains all necessary endorsements, (b) insures the priority of the Mortgage as a first lien or (c) whether the interest vested in the Mortgagor is a fee interest) or whether they have actually been recorded or that they a...
Obligations of Custodian. The Trustee shall have no responsibility for the performance by the Custodian and the various counterparties of any of its obligations and shall not be responsible for any claim arising from the fact that any Collateral comprised in the Mortgaged Property is held in safe custody by the Custodian.
Obligations of Custodian. With respect to each of the Loan Documents and any other document constituting each Purchased Asset File that are delivered to Custodian or that come into the possession of Custodian, Custodian is acting solely in the capacity of custodian for, and bailee and agent of, Indenture Trustee. Custodian shall file all documents received by it constituting the Purchased Asset Files in a timely manner. Custodian shall hold all documents received by it constituting the Purchased Asset Files for the exclusive use and benefit of Indenture Trustee and shall make disposition thereof only in accordance with this Indenture and the instructions furnished by Indenture Trustee. Custodian shall segregate and maintain continuous custody of all documents constituting the Purchased Asset Files in secure and fire resistant facilities in accordance with customary standards for such custody.
Obligations of Custodian. (a) On and after the Purchase Date until such time as Purchaser has released a Mortgage Loan File in accordance with Sections 9 or 11 herein, with respect to any Mortgage Loan Files delivered to Custodian or which come into the possession of Custodian, except as otherwise provided in this Agreement, Custodian is, until the rights, title and interests of Purchaser have been released pursuant to this Agreement, Custodian for Purchaser pursuant to this Agreement and shall hold all documents received by it for the exclusive use and benefit of Purchaser and shall make disposition thereof only in accordance with this Agreement and the Written Instructions furnished by Purchaser. Custodian shall (x) segregate the Mortgage Loan Files on its automated data system and (y) subject to the terms and conditions set forth herein, and maintain continuous custody of the Mortgage Loan Files, in secure and fire-resistant facilities in accordance with customary standards for such custody and shall reflect in its records the interest of Purchaser in such Mortgage Loan Files. Custodian shall implement and maintain administrative and operative procedures pursuant to which it shall keep and maintain all records and information necessary to permit the regular identification of all Mortgage Loan Files held or released by it hereunder.
Obligations of Custodian. With respect to the Mortgage Note, the Mortgage and the Assignment of Mortgage and other documents constituting each Custodian's Mortgage File that is delivered to Custodian or that come into the possession of Custodian, Custodian is the custodian for GACC and LNR. Custodian shall hold all mortgage documents received by it constituting the Custodian's Mortgage File for the exclusive use and benefit of GACC and LNR, and shall make disposition thereof only in accordance with this Agreement and the instructions furnished by GACC and LNR. Custodian shall segregate and maintain continuous custody of all documents constituting the Custodian's Mortgage File in secure and fireproof facilities in accordance with customary standards for such custody. Custodian shall not be responsible to verify (i) the validity, legality, enforceability, due authorization, recordability, aufficiency or genuineness of any document in the Custodian's Mortgage File or of any of the Mortgage Loans or (ii) the collectability, insurability, effectiveness or suitability of any such Mortgage Loan.
Obligations of Custodian. 13 Section 5. Release of Asset Files...................................... 14 Section 6. Fees and Expenses of Custodian.............................. 16 Section 7. Removal or Resignation of Custodian and Disbursement Agent.. 16
