Deliver of Documentation. Seller shall sell, assign, and deliver to Buyer with respect to the purchase of each loan sold the following documents, all subject to the approval of Buyer and its legal counsel as to proper form and execution:
(1) Mortgage note properly endorsed by Seller in accordance with applicable law and regulations, and if an FHA, or a private mortgage insurance -6- company-insured mortgage, duly endorsed by the Federal Housing Commissioner or the private mortgage insurance company, and if a VA mortgage, accompanied by the Loan Guaranty Certificate;
(2) Mortgage, accompanied by those documents and instruments necessary to record the perfect ownership thereof in Buyer, including separate assignments of rents, if any;
(3) One or more written appraisal reports, prepared in conformity with [Federal Home Loan Bank Board Memorandum R 41c] and signed, prior to the approval of the loan debtor's application, by a person or persons duly appointed and qualified as appraiser or appraisers by the Seller's board of directors and who has no interest, direct or indirect, in the security property or any loan on the security thereof and who does not receive compensation which is affected by the approval or declining of the loan. Such appraisal shall disclose the market value of the security offered by the loan debtor and contain sufficient information and data concerning the appraised security property to substantiate its market value. In the case of an insured loan or a guaranteed loan, a certification of the valuation assigned to the real estate security by the appraiser accepted by the insuring or guaranteeing agency and furnished to the Seller by such agency;
(4) Mortgage title insurance policy, exceptions subject to approval of Buyer's legal counsel, and proper assignment thereof, if required, in the event a mortgage assignment is being placed on record;
(5) Survey of premises identifying the security property by address and legal description, this being required only if the title policy contains an exception as to boundary and building line restrictions or as to anything else that may be determined by a survey of the premises;
(6) If an FHA mortgage application, the commitment, amortization schedule, notice of transfer and all required documents of a similar nature; if a VA mortgage, all such required documents of a similar nature;
(7) Hazard insurance policies meeting the specifications as contained in this Agreement;
(8) Statement showing unpaid principal balance on loan, am...
Deliver of Documentation. At the closing, the following documents, in form reasonably acceptable to the parties and their respective counsel, shall be delivered to the respective parties
a. A COMPANY Officer's Certificate, dated the Closing Date that all representations, warranties, covenants and conditions set forth in this Agreement on behalf of COMPANY are true and correct as of, or have been fully performed and complied with by, the Closing Date; and b. A OWNER officer's certificate, dated the Closing Date that all representations, warranties, covenants and conditions set forth in this Agreement on behalf of OWNER are true and correct as of, or have been fully performed and complied with by, the Closing Date; and c. A signed consent and or minutes of the Directors of COMPANY approving the Acquisition Agreement and each matter to be approved by the Directors of COMPANY under this Agreement.
