Common use of Conformance to Agreement Clause in Contracts

Conformance to Agreement. The Mortgage Loan conforms in all other respects to this Agreement. It is understood and agreed that the representations, warranties and covenants set forth in this Section shall survive the sale of the Mortgage Loans by the Mortgage Lender to the Servicer and that the representations, warranties and covenants shall inure to the benefit of the transferee and assigns of the Servicer which, under the Resolution, include the Trustee, the Authority, GNMA, Xxxxxxx Mac, Xxxxxx Xxx and the Bondholders. It is further understood and agreed that the representations, warranties, and covenants set forth in this Section with respect to title to the Single Family Residence, including, but not limited to, representations in regard to liens, use of the Single Family Residence, and compliance with laws, inure to the benefit of the Title Guaranty Division of the Authority, and may be relied upon by the Title Guaranty Division of the Authority in issuing any title guaranty certificate with respect to the Single Family Residence. Upon discovery by the Mortgage Lender or the Servicer of a breach of any of the foregoing representations, warranties and covenants which materially and adversely affects the value of any Mortgage Loan or the interest of the Servicer in any Mortgage Loan, or violates any requirements necessary to maintain the exclusion from gross income under Section 143 of the Code, the party discovering such breach shall give prompt written notice to the other. A breach of these representations, warranties and covenants shall give rise to the rights and obligations with respect to cure or repurchase set forth in Section 4.12 hereof.

Conformance to Agreement. The Mortgage Loan conforms in all other respects to this Agreement. It is understood and agreed that the representations, warranties and covenants set forth in this Section shall survive the sale of the Mortgage Loans by the Mortgage Lender to the Servicer and that the representations, warranties and covenants shall inure to the benefit of the transferee and assigns of the Servicer which, under the Resolution, include the Trustee, the Authority, GNMA, Xxxxxxx Freddie Mac, Xxxxxx Xxx and the Bondholders. It is further understood and agreed that the representations, warranties, and covenants set forth in this Section with respect to title to the Single Family Residence, including, but not limited to, representations in regard to liens, use of the Single Family Residence, and compliance with laws, inure to the benefit of the Title Guaranty Division of the Authority, and may be relied upon by the Title Guaranty Division of the Authority in issuing any title guaranty certificate with respect to the Single Family Residence. Upon discovery by the Mortgage Lender or the Servicer of a breach of any of the foregoing representations, warranties and covenants which materially and adversely affects the value of any Mortgage Loan or the interest of the Servicer in any Mortgage Loan, or violates any requirements necessary to maintain the exclusion from gross income under Section 143 of the Code, the party discovering such breach shall give prompt written notice to the other. A breach of these representations, warranties and covenants shall give rise to the rights and obligations with respect to cure or repurchase set forth in Section 4.12 hereof.