Note File definition

Note File means, with respect to each Mortgage, any document that Designated Custodian is required to maintain pursuant to the Guide, Handbook, and this Tri-Party Agreement.

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Note File or “Notes”, for purposes of this Agreement, means the original notes and any other instruments evidencing the indebtedness secured by the security instruments, along with the original riders, powers of attorney, and/or other instruments that modify the original notes (e.g., modification, conversion, assumption of indebtedness or release of liability agreements); references to “Notes” may include Assignments and any supplemental or additional documents required to be maintained by the Designated Custodian in the Note File, as the context requires or permits.

Note File means, with respect to each Mortgage, any document that is typically maintained in a document custodian’s note file and as appropriate to its Mortgage loan type. As the context requires, “Note File” may refer to any document, such as a Note, that is associated with a Note File. “Service Level(s)” is defined in Section 3(i).

Examples of Note File in a sentence

• In no event may Designated Custodian refuse or fail to fulfill its obligations pursuant to this Agreement while any Note File is within its possession.

• If Seller/Servicer supplements a delivery with additional documents, such as original modifying instruments, with respect to a Mortgage, Designated Custodian must place the supplemental documentation in the related Note File.

• If Seller/Servicer supplements a delivery with additional documents, such as original modifying instruments, with respect to a Note, Designated Custodian must place the supplemental documentation in the related Note File.

• Upon receiving a new Note File, (other than by a transfer of custody as described in Section 3(d)(i)(c) below) Designated Custodian will review and examine it and conduct the verification as set forth in Guide Sections 6304.3(b) and (c) and 3301.

• Designated Custodian shall have no liability to any person or entity, including ▇▇▇▇▇▇▇ Mac or Seller/Servicer, for the condition of any Note or Note File or the contents thereof if (A) such condition existed on or prior to transfer of possession of the applicable Note or Note File to Designated Custodian or (B) Designated Custodian is not expressly obligated hereunder to review, and certify as to the state of, any such document comprising said Note File.

• Upon receiving a new Note File (other than by transfer of custody as described in Section 3(d)(i)(c) below), Document Custodian will review and examine it and conduct the verification as set forth in Guide Sections 6304.3(b) and (c) and 3301.

• If ▇▇▇▇▇▇▇ ▇▇▇ transfers title or ownership of a Mortgage to a third party, then immediately upon such transfer the terms of this Agreement will no longer apply to the Note File relating to that Mortgage.

• Designated Custodian shall have no liability to any person or entity, including Freddie Mac or Seller/Servicer, for the condition of any Note or Note File or the contents thereof if (A) such condition existed on or prior to transfer of possession of the applicable Note or Note File to Designated Custodian or (B) Designated Custodian is not expressly obligated hereunder to review, and certify as to the state of, any such document comprising said Note File.

• The e-mail advised in detail the standards for performance reviews and reminded responsible personnel that corresponding documentation is required in iPAS using a Supervisory Note File (SNF) format.

• If Freddie Mac transfers title or ownership of a Mortgage to a third party, then immediately upon such transfer the terms of this Agreement will no longer apply to the Note File relating to that Mortgage.

More Definitions of Note File

Note File means and shall include: (a) the Note bearing all intervening endorsements, or a Lost Note Affidavit (as defined in the Custodial Agreement) with applicable changes reasonably acceptable to Alliance, endorsed in blank, (b) a conformed copy of the Note Mortgage bearing the original recording information, (c) an original “Assignment of Mortgage” in favor of Alliance for each Note Mortgage, in form and substance acceptable for recording and signed in the name of Borrower by an authorized Person on behalf of Borrower, (d) the originals or copies of recorded intervening assignments of mortgage, if any, with evidence of recording thereon, showing an unbroken chain of title from the originator thereof to Borrower (or in the case of a MERS Designated Mortgage Loan, MERS), (e) the original attorney’s opinion of title and abstract of title or the original or copy of mortgagee title insurance policy, or if the mortgagee title insurance policy has not been issued, a copy of the irrevocable commitment to issue the same, related to the Note Mortgage, and (f) if any of the above documents has been executed by a person holding a power of attorney for Borrower, as notified to the Custodian in writing, an original of such power of attorney.

Note File means and shall include: (a) the Eligible Note bearing all intervening endorsements, or a lost Note affidavit reasonably acceptable to Lender, endorsed in blank, (b) a conformed copy of the Note Mortgage bearing the original recording information, (c) an original “Assignment of Mortgage” in favor of Lender for each Note Mortgage, in form and substance acceptable for recording and signed in the name of Borrower by an authorized Person on behalf of Borrower, (d) the originals or copies of recorded intervening assignments of mortgage, if any, with evidence of recording thereon, showing an unbroken chain of title from the originator thereof to Borrower, (e) the original attorney’s opinion of title and abstract of title or the original or copy of mortgagee title insurance policy, or if the mortgagee title insurance policy has not been issued, a copy of the irrevocable commitment to issue the same, related to the Note Mortgage, and (f) if any of the above documents has been executed by a person holding a power of attorney for Borrower, as notified to the Custodian in writing, an original of such power of attorney.

Note File means, in respect of any Note against which Lender has made an Advance and shall include: (a) the Note bearing all intervening endorsements and/or allonges, or a Lost Note Affidavit (as defined in the Custodial Agreement) with applicable changes reasonably acceptable to Lender, endorsed in blank, (b) a conformed copy of the Note Mortgage bearing the original recording information, (c) an original "Assignment of Mortgage" endorsed in blank for each Note Mortgage, in form and substance acceptable for recording and signed in the name of Borrower by an authorized Person on behalf of Borrower (or in the case of a MERS Designated Mortgage Loan, evidence that such Mortgage Loan has been registered on the MERS System in a manner reasonably acceptable to Lender and reflecting Lender as the "Warehouse/Gestation Lender"), (d) the originals or copies of recorded intervening assignments of mortgage, if any, with evidence of recording thereon, showing an unbroken chain of title from the originator thereof to Borrower (or in the case of a MERS Designated Mortgage Loan, MERS), (e) an attorney's opinion of title and abstract of title or copy of mortgagee or loan title insurance policy, or if the mortgagee or loan title insurance policy has not been issued, a copy of the irrevocable commitment to issue the same, related to the Note Mortgage, (f) if any of the above documents has been executed by a person holding a power of attorney for Borrower, as notified to the Custodian in writing, an original of such power of attorney, and (g) any other documents, instruments and writings related to the Note that are required to be in the Mortgage File (as defined in the Custodial Agreement) pursuant to the Custodial Agreement.