Common use of Bailee Clause in Contracts

Bailee. Lender appoints Borrower, and Borrower shall act, as its bailee to (i) hold in trust for Lender (A) the original recorded copy of the mortgage, deed of trust, or trust deed securing each Pledged Mortgage Loan, (B) any mortgagee lien policy of title insurance (or binding unexpired and unconditional commitment to issue such insurance if the policy has not yet been delivered to Borrower) insuring Borrower’s perfected Lien created by that mortgage, deed of trust, or trust deed, (C) the original insurance policies for each Pledged Mortgage Loan, and (D) all other original documents relating to each Pledged Mortgage Loan, including any promissory notes, any other loan documents, and supporting documentation, surveys, settlement statements, and closing instructions, and (ii) deliver to Lender any of the foregoing items as soon as reasonably practicable in accordance with the terms and provisions of this Agreement.

Bailee. Lender appoints Borrower, Company and Borrower Company shall act, act as its bailee to ------ (i) hold in trust for Lender (A) the original recorded copy of the mortgage, deed of trust, or trust deed securing each Pledged Mortgage LoanMortgage, (B) any a mortgagee lien policy of title insurance (or binding unexpired and unconditional commitment to issue such insurance if the policy has not yet been delivered to BorrowerCompany) insuring Borrower’s perfected the Company's perfected, first priority Lien created by b, that mortgage, deed of trust, or trust deed, (C) the original insurance policies for each Pledged Mortgage LoanMortgage, and (D) all other original documents relating to each Pledged Mortgage LoanMortgage, including any promissory notes, any other loan documents, and supporting documentation, surveys, settlement statements, and closing instructions, and Mortgage-backed Securities, and (ii) deliver to Lender any of the foregoing items as soon as reasonably practicable in accordance with the terms and provisions of this Agreementupon Lender's request.

Bailee. Each Lender appoints Borrower, Company - and Borrower Company shall act, act - as its bailee to (i) hold in trust for such Lender (A) the original recorded copy of the mortgage, deed of trust, or trust deed securing each Pledged Mortgage LoanMortgage, (B) any a mortgagee lien policy of title insurance (or binding unexpired and unconditional commitment to issue such insurance if the policy has not yet been delivered to BorrowerCompany) insuring Borrowerthe Company’s perfected perfected, first priority Lien created by that mortgage, deed of trust, or trust deed, (C) the original insurance policies for each Pledged Mortgage LoanMortgage, and (D) all other original documents relating to each Pledged Mortgage LoanMortgage, including any promissory notes, any other loan documents, and supporting documentation, surveys, settlement statements, and closing instructions, and Mortgage-backed Securities, and (ii) deliver to Lender Agent any of the foregoing items as soon as reasonably practicable in accordance with the terms and provisions of this Agreementupon Agent’s request.