Common use of Custody of Mortgage Loan Documents/ Mortgagee of Record Clause in Contracts

Custody of Mortgage Loan Documents/ Mortgagee of Record. Each of the Notes shall be held by its respective Note Holder or a duly appointed custodian of such Note Holder. Prior to the First Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held by Xxxxx Fargo Bank, National Association, as interim custodian. If the First Securitization includes Note A-1, then on and after the First Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such First Securitization, on behalf of the registered holders of the Notes. If the First Securitization does not include Note A-1, then (a) on and after the First Securitization Date but prior to the Securitization Date for Note A-1, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such First Securitization, on behalf of the registered holders of the Notes; and (b) on and after the Securitization Date for Note A-1, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such Securitization of Note A-1, on behalf of the registered holders of the Notes. If the First Securitization includes Note A-1, then the Trustee of such First Securitization shall at all times be the mortgagee of record with respect to the Mortgage Loan. If the First Securitization does not include Note A-1, then the Trustee of such First Securitization shall be the mortgagee of record to the extent that the applicable Mortgage Loan Documents have been recorded in the name of such Trustee pursuant to the terms of the PSA for such First Securitization.

Custody of Mortgage Loan Documents/ Mortgagee of Record. Each of the Notes shall be held by its respective Note Holder or a duly appointed custodian of such Note Holder. Prior to the First Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held by Xxxxx Fargo Bank, National Association, as interim custodian. If the First Securitization includes Note A-1, then on and after the First Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such First Securitization, on behalf of the registered holders of the Notes. If the First Securitization does not include Note A-1, then (a) on and after the First Securitization Date but prior to the Securitization Date for Note A-1, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such First Securitization, on behalf of the registered holders of the Notes; and (b) on and after the Securitization Date for Note A-1, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such Securitization of Note A-1, on behalf of the registered holders of the Notes. If the First Securitization includes Note A-1, then the Trustee of such First Securitization shall at all times be the mortgagee of record with respect to the Mortgage Loan. If the First Securitization does not include Note A-1, then the Trustee of such First Securitization shall be the mortgagee of record to the extent that the applicable Mortgage Loan Documents have been recorded in the name of such Trustee pursuant to the terms of the PSA for such First Securitization.. [NO FURTHER TEXT ON THIS PAGE]

Custody of Mortgage Loan Documents/ Mortgagee of Record. Each of the Notes shall be held by its respective Note Holder or a duly appointed custodian of such Note Holder. Prior to the First Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held by Xxxxx Wxxxx Fargo Bank, National Association, as interim custodian. If the First Securitization includes Note A-1, then on and after the First Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such First Securitization, on behalf of the registered holders of the Notes. If the First Securitization does not include Note A-1, then (a) on and after the First Securitization Date but prior to the Securitization Date for Note A-1, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such First Securitization, on behalf of the registered holders of the Notes; and (b) on and after the Securitization Date for Note A-1, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under the PSA for such Securitization of Note A-1, on behalf of the registered holders of the Notes. If the First Securitization includes Note A-1, then the Trustee of such First Securitization shall at all times be the mortgagee of record with respect to the Mortgage Loan. If the First Securitization does not include Note A-1, then the Trustee of such First Securitization shall be the mortgagee of record to the extent that the applicable Mortgage Loan Documents have been recorded in the name of such Trustee pursuant to the terms of the PSA for such First Securitization.