Common use of Transfers of Mortgaged Property Clause in Contracts

Transfers of Mortgaged Property. In connection with the transfer, or prospective transfer, of title to a Mortgaged Property, Xxxxxx Xxx shall accelerate the maturity of the related Mortgage Loan where such Mortgage Loan contains a “due-on-sale” clause permitting acceleration under such a circumstance; provided, however, that Xxxxxx Mae shall not be required to accelerate the maturity of the Mortgage Loan pursuant to the “due-on-sale” clause if Xxxxxx Xxx is restricted, or reasonably believes that it is restricted, by law from accelerating such Mortgage Loan, for any reason whatever. In the event that, for any reason, Xxxxxx Mae cannot accelerate the maturity of a Mortgage Loan upon the transfer, or prospective transfer, of title to the underlying Mortgaged Property, Xxxxxx Xxx may enter into a transaction by which the obligor is released from liability on the related Mortgage Loan and the transferee assumes such liability; provided, however, that no such transaction shall (i) be entered into which would not have been entered into had the Mortgage Loan been held in Xxxxxx Mae’s own portfolio or (ii) provide for reduction of the Mortgage Interest Rate.

Transfers of Mortgaged Property. In connection with the transfer, or prospective transfer, of title to a Mortgaged Property, Xxxxxx Xxx shall accelerate the maturity of the related Mortgage Loan where such Mortgage Loan contains a “due-on-sale” clause permitting acceleration under such a circumstance; provided, however, that Xxxxxx Mae shall not be required to accelerate the maturity of the Mortgage Loan pursuant to the “due-on-sale” clause if Xxxxxx Xxx Mae is restricted, or reasonably believes that it is restricted, by law from accelerating such Mortgage Loan, for any reason whatever. In the event that, for any reason, Xxxxxx Mae Xxx cannot accelerate the maturity of a Mortgage Loan upon the transfer, or prospective transfer, of title to the underlying Mortgaged Property, Xxxxxx Xxx Mae may enter into a transaction by which the obligor is released from liability on the related Mortgage Loan and the transferee assumes such liability; provided, however, that no such transaction shall (i) be entered into which would not have been entered into had the Mortgage Loan been held in Xxxxxx Mae’s own portfolio or (ii) provide for reduction of the Mortgage Interest Rate.

Transfers of Mortgaged Property. In connection with the transfer, or prospective transfer, of title to a Mortgaged Property, Xxxxxx Xxx shall accelerate the maturity of the related Mortgage Loan where such Mortgage Loan contains a “due-on-sale” clause permitting acceleration under such a circumstance; provided, however, that Xxxxxx Mae shall not be required to accelerate the maturity of the Mortgage Loan pursuant to the “due-on-salesales” clause if Xxxxxx Xxx is restricted, or reasonably believes that it is restricted, by law from accelerating such Mortgage Loan, for any reason whatever. In the event that, for any reason, Xxxxxx Mae cannot accelerate the maturity of a Mortgage Loan upon the transfer, or prospective transfer, of title to the underlying Mortgaged Property, Xxxxxx Xxx may enter into a transaction by which the obligor is released from liability on the related Mortgage Loan and the transferee assumes such liability; provided, however, that no such transaction shall (i) be entered into which would not have been entered into had the Mortgage Loan been held in Xxxxxx Mae’s own portfolio or (ii) provide for reduction of the Mortgage Interest Rate.

Transfers of Mortgaged Property. In connection with the transfer, or prospective transfer, of title to a Mortgaged Property, Xxxxxx Xxx shall accelerate the maturity of the related Group 1 Mortgage Loan where such Group 1 Mortgage Loan contains a “due-on-sale” clause permitting acceleration under such a circumstance; provided, however, that Xxxxxx Mae shall not be required to accelerate the maturity of the Group 1 Mortgage Loan pursuant to the “due-on-sale” clause if Xxxxxx Xxx is restricted, or reasonably believes that it is restricted, by law from accelerating such Group 1 Mortgage Loan, for any reason whatever. In the event that, for any reason, Xxxxxx Mae cannot accelerate the maturity of a Group 1 Mortgage Loan upon the transfer, or prospective transfer, of title to the underlying Mortgaged Property, Xxxxxx Xxx may enter into a transaction by which the obligor is released from liability on the related Group 1 Mortgage Loan and the transferee assumes such liability; provided, however, that no such transaction shall (i) be entered into which would not have been entered into had the Group 1 Mortgage Loan been held in Xxxxxx Mae’s own portfolio or (ii) provide for reduction of the related Mortgage Interest Rate.

Transfers of Mortgaged Property. In connection with the transfer, or prospective transfer, of title to a Mortgaged Property, Xxxxxx Xxx Mae shall accelerate the maturity of the related Mortgage Loan where such Mortgage Loan contains a “"due-on-sale” " clause permitting acceleration under such a circumstancecircumstances; provided, however, that Xxxxxx Mae Xxx shall not be required to accelerate the maturity of the Mortgage Loan pursuant to the “"due-on-on- sale” " clause if Xxxxxx Xxx Mae is restricted, restricted or reasonably believes that it is restricted, by law from accelerating such Mortgage Loan, for any reason whatever. In the event that, for any reason, Xxxxxx Mae Xxx cannot accelerate the maturity of a Mortgage mortgage Loan upon the transfer, or prospective transfer, of title to the underlying Mortgaged Property, Xxxxxx Xxx Mae may enter into a transaction by which the obligor is released from liability on the related Mortgage Loan and the transferee assumes such liability; provided, however, that no such transaction shall (i) be entered into which would not have been entered into had the Mortgage Loan been held in Xxxxxx Mae’s 's own portfolio or (ii) provide for reduction of the Mortgage Interest Ratemortgage interest rate.

Transfers of Mortgaged Property. In connection with the transfer, or prospective transfer, of title title, to a Mortgaged Property, Xxxxxx Xxx shall accelerate the maturity of the related Mortgage Loan where such Mortgage Loan loan contains a “due-on-sale” clause permitting acceleration under such a circumstance; provided, however, that Xxxxxx Mae shall not be required to accelerate the maturity of the Mortgage Loan pursuant to the “due-on-sale” clause if Xxxxxx Xxx is restricted, or reasonably believes that it is restricted, by law from accelerating such Mortgage Loan, for any reason whatever. In the event that, for any reason, Xxxxxx Mae cannot accelerate the maturity of a Mortgage Loan upon the transfer, or prospective transfer, of title to the underlying Mortgaged Property, Xxxxxx Xxx may enter into a transaction by which the obligor is released from liability on the related Mortgage Loan and the transferee assumes such liability; provided, however, that no such transaction shall (i( i ) be entered into which would not have been entered into had the Mortgage Loan been held in Xxxxxx Mae’s own portfolio or (ii( ii ) provide for reduction of the related Mortgage Interest Rate.