Common use of Conveyance of Subsequent Mortgage Loans Clause in Contracts

Conveyance of Subsequent Mortgage Loans. As of December 1, 1997 (the "Subsequent Cut-Off Date"), the Company does hereby irrevocably transfer, assign, setover and otherwise convey to the Purchaser, without recourse (except as otherwise explicitly provided for herein) all right, title and interest in and to any and all benefits accruing from the Subsequent Mortgage Loans which are delivered to the Trustee herewith (and all substitutions therefor as provided by Sections 3.3, 3.4 and 3.6 of the Pooling and Servicing Agreement), together with the related Subsequent Mortgage Loan documents and the interest in any Property which secured a Subsequent Mortgage Loan but which has been acquired by foreclosure or deed in lieu of foreclosure, and all payments thereon and proceeds of the conversion, voluntary or involuntary, of the foregoing; and proceeds of all the foregoing (including, but not by way of limitation, all proceeds of any mortgage insurance, hazard insurance and title insurance policy relating to the Subsequent Mortgage Loans, cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment of any and every kind, and other forms of obligations and receivables which at any time constitute all or part of or are included in the proceeds of any of the foregoing). The Company shall deliver the original Mortgage or mortgage assignment with evidence of recording thereon (except as otherwise provided by the Pooling and Servicing Agreement) and other required documentation in accordance with the terms set forth in Sections 3.5 and 3.8 of the Pooling and Servicing Agreement.

Conveyance of Subsequent Mortgage Loans. As of December 1March 10, 1997 (the "Subsequent Cut-Off Transfer Date"), the Company Seller does hereby irrevocably transfer, assign, setover set over and otherwise convey to the Depositor and the Depositor does hereby irrevocably transfer, assign, set over and otherwise convey to the Purchaser, without recourse (except as otherwise explicitly provided for herein) all right, title and interest in and to any and all benefits accruing from the Subsequent Mortgage Loans (other than any principal received and interest payments received thereon on or prior to March 1, 1997 whether or not received) (such date, the "Subsequent Cut-Off Date") which are delivered to the Trustee herewith (and all substitutions therefor as provided by Sections 3.33.04, 3.4 3.05 and 3.6 3.06 of the Pooling and Servicing Agreement), together with the related Subsequent Mortgage Loan documents and the interest in any Property which secured a Subsequent Mortgage Loan but which has been acquired by foreclosure or deed in lieu of foreclosure, and all payments thereon and proceeds of the conversion, voluntary or involuntary, of the foregoing; and proceeds of all the foregoing (including, but not by way of limitation, all proceeds of any mortgage insurance, hazard insurance and title insurance policy relating to the Subsequent Mortgage Loans, cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment of any and every kind, and other forms of obligations and receivables which at any time constitute all or part of or are included in the proceeds of any of the foregoing). The Company Seller shall deliver the original Mortgage or mortgage assignment with evidence of recording thereon (except as otherwise provided by the Pooling and Servicing Agreement) and other required documentation in accordance with the terms set forth in Sections 3.5 3.05 and 3.8 3.07 of the Pooling and Servicing Agreement.. The costs relating to the delivery of the documents specified in this Subsequent Transfer Agreement and the Pooling and Servicing Agreement shall be borne by the Seller. The Seller hereby affirms the representations and warranties set forth in the Pooling and Servicing Agreement that relate to the Seller and the Subsequent Mortgage Loans as of the date hereof. The Seller hereby delivers notice and confirms that each of the conditions set forth in Section 3.07(b) and 3.07(c) to the Pooling and Servicing Agreement are satisfied as of the date hereof. Pursuant to Section 3.07(a) of the Pooling and Servicing Agreement, the Seller hereby instructs the Trustee to release one-hundred percent of the aggregate principal balances of the Subsequent Mortgage Loans so transferred from the Pre-Funding Account, $5,670,263, pursuant to this Subsequent Transfer Agreement and to include $5,670,263 of the Mortgage Loans listed in Schedule 2 hereto in Group II. All terms and conditions of the Pooling and Servicing Agreement are hereby ratified, confirmed and incorporated herein, provided that in the event of any conflict the provisions of this Subsequent Transfer Agreement shall control over the conflicting provisions of the Pooling and Servicing Agreement. Terms capitalized herein and not defined herein shall have their respective meanings as set forth in the Pooling and Servicing Agreement. AMRESCO RESIDENTIAL SECURITIES CORPORATION as Depositor By: /s/ Janice M. Cott -------------------------------------- Name: Janice M. Cott Title: Vxxx Xxxxxdent AMRESCO RESIDENTIAL CAPITAL MARKETS, INC. as Seller By: /s/ Janice M. Cott -------------------------------------- Name: Janice M. Cott Title: Vxxx Xxxxxdent AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST 1996-5, by The Chase Manhattan Bank as Trustee By: /s/ Kimberly K. Costa -------------------------------------- Name: Title: Dated: March 10, 1997 AMRESCO Mortgage Loan Schedule - Prefund III 1996-5 Group 2 Adjustable Rate Loans

Conveyance of Subsequent Mortgage Loans. As of December 1March 27, 1997 (the "Subsequent Cut-Off Date"), the Company does hereby irrevocably transfer, assign, setover and otherwise convey to the Purchaser, without recourse (except as otherwise explicitly provided for herein) all right, title and interest in and to any and all benefits accruing from the Subsequent Mortgage Loans which are delivered to the Custodian on behalf of the Trustee herewith (and all substitutions therefor as provided by Sections 3.3, 3.4 and 3.6 of the Pooling and Servicing Agreement), together with the related Subsequent Mortgage Loan documents and the interest in any Property which secured a Subsequent Mortgage Loan but which has been acquired by foreclosure or deed in lieu of foreclosure, and all payments thereon and proceeds of the conversion, voluntary or involuntary, of the foregoing; and proceeds of all the foregoing (including, but not by way of limitation, all proceeds of any mortgage insurance, hazard insurance and title insurance policy relating to the Subsequent Mortgage Loans, cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment of any and every kind, and other forms of obligations and receivables which at any time constitute all or part of or are included in the proceeds of any of the foregoing). The Company shall deliver the original Mortgage or mortgage assignment with evidence of recording thereon (except as otherwise provided by the Pooling and Servicing Agreement) and other required documentation in accordance with the terms set forth in Sections 3.5 and 3.8 of the Pooling and Servicing Agreement.

Conveyance of Subsequent Mortgage Loans. As of December 1June 30, 1997 (the "Subsequent Cut-Off CutOff Date"), the Company does hereby irrevocably transfer, assign, setover and otherwise convey to the Purchaser, without recourse (except as otherwise explicitly provided for herein) all right, title and interest in and to any and all benefits accruing from the Subsequent Mortgage Loans which are delivered to the Custodian on behalf of the Trustee herewith (and all substitutions therefor as provided by Sections 3.3, 3.4 and 3.6 of the Pooling and Servicing Agreement), together with the related Subsequent Mortgage Loan documents and the interest in any Property which secured a Subsequent Mortgage Loan but which has been acquired by foreclosure or deed in lieu of foreclosure, and all payments thereon and proceeds of the conversion, voluntary or involuntary, of the foregoing; and proceeds of all the foregoing (including, but not by way of limitation, all proceeds of any mortgage insurance, hazard insurance and title insurance policy relating to the Subsequent Mortgage Loans, cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment of any and every kind, and other forms of obligations and receivables which at any time constitute all or part of or are included in the proceeds of any of the foregoing). The Company shall deliver the original Mortgage or mortgage assignment with evidence of recording thereon (except as otherwise provided by the Pooling and Servicing Agreement) and other required documentation in accordance with the terms set forth in Sections 3.5 and 3.8 of the Pooling and Servicing Agreement.