Common use of Servicer as Custodian Clause in Contracts

Servicer as Custodian. The Mortgage Records belong to the Bank. The Servicer shall have possession of the Mortgage Records only with the Bank's approval. The Servicer hereby acknowledges that it is acting as the Bank's custodian in connection with any Mortgage Records at any time in its possession or control and it shall have no other interest in them. This is true whether the Servicer receives the Mortgage Records from an outside source or prepares them itself.

Servicer as Custodian. The Mortgage Records belong to the Bank. The Servicer shall have possession of the Mortgage Records only with the Bank's ’s approval. The Servicer hereby acknowledges that it is acting as the Bank's ’s custodian in connection with any Mortgage Records at any time in its possession or control and it shall have no other interest in thempossession. This is true whether the Servicer receives the Mortgage Records from an outside source or prepares them itself.

Servicer as Custodian. The Mortgage Records belong to the Bank. The Servicer shall have possession of the Mortgage Records only with the Bank's ’s approval. The Servicer hereby acknowledges that it is acting as the Bank's ’s custodian in connection with any Mortgage Records at any time in its possession or control and it shall have no other interest in them. This is true whether the Servicer receives the Mortgage Records from an outside source or prepares them itself.