SONYMA definition
Examples of SONYMA in a sentence
Prior to the execution of this Agreement by SONYMA, the Servicer must deliver to SONYMA a satisfactory Opinion of Counsel in the same form as Exhibit A attached hereto.
In the event that SONYMA shall consent to the assignment of this Agreement, SONYMA reserves the right to assess a servicing transfer fee.
The Seller, on date of transfer, agrees to pay a portion of the Buyer’s closing costs, excluding pre-payables for SONYMA OR PMI mortgage financing, up to an amount of .
SONYMA shall pay the Servicer as liquidated damages (but without any further liability whatsoever to SONYMA) One Hundred Dollars ($100.00) if such termination occurs within the first five (5) years from the date of this Agreement.
Upon the mailing by SONYMA to Servicer of a notice of termination pursuant to this Paragraph 17, the rights and duties of Servicer shall immediately terminate, but Servicer shall be required to make any accounting to SONYMA as provided in Paragraph 19 hereof.
The Servicer shall comply with all provisions of such Pool Insurance, including the obligation to maintain in force all policies of PMI, until such PMI is no longer required under the terms of State law or by SONYMA.
In particular, the Seller warrants that prior to the delivery of an executed copy of this Agreement to SONYMA, it has not agreed with any other mortgage lender or any other person or institution as to the amount of Mortgage Loans it would agree to originate and sell to SONYMA.
The Servicer shall make such reasonable additional inspections as SONYMA may from time to time request and furnish SONYMA with a written report covering such inspections within thirty (30) days after the date thereof in the form and containing the information required by SONYMA.
The Servicer shall see to it that at all times during the existence of the respective Mortgage Loans all of the buildings and improvements upon the Eligible Property are kept insured against loss or damage by fire, with extended coverage, and from such other insurable hazards and risks as is customary in the locality where the Eligible Property is located and such other hazards or risks as SONYMA may in its discretion require for its protection.
To the extend permitted by law, SONYMA and the Servicer agree that each will, from time to time, execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such supplements hereto and such further instruments as may be reasonably required or appropriate to further express the intention of, or to facilitate the performance of this Agreement.