Common use of Delivery of Mortgage File Clause in Contracts

Delivery of Mortgage File. Borrower shall deliver to Custodian the following documents pertaining to each Loan monthly upon the second Business Day of each month for Loans closed or acquired within the prior month. Upon delivery by Borrower, without any further act by any party, Borrower shall be deemed to certify to the Lender that the Loans pledged on such date are not subject to a lien of any third party. (a) the Mortgage File; including originals or certified copies where indicated of the following, provided, however, that as to documents which have been delivered or are being delivered to recording offices for recording and have not been returned to Borrower in time to permit their delivery hereunder at the time of such transfer, and in lieu of delivering such original documents or certified copies where permitted, Borrower has delivered to Custodian a true copy thereof, and provided further that provided that, the original assignment of mortgage to Borrower with mortgage recording information thereon, shall be delivered by Borrower to Custodian within fourteen (14) days of the related acquisition date, and Borrower shall deliver all other original or certified documents when received: (i) original promissory note and any allonges; (ii) original Mortgage reflecting recording information; (iii) original Assignment of Mortgage to Lender (in blank and unrecorded) , together with all intervening assignments of mortgage; (iv) title commitment; (v) policy of title insurance. (b) With respect to all Mortgage Files, from time to time, Borrower shall forward to Custodian additional original documents or additional documents evidencing any assumption, modification, consolidation or extension of a Loan approved by Borrower (or the servicer on its behalf), and Custodian shall hold such other documents as the Lender shall request from time to time. (c) Additionally, on or promptly following the execution date of this Agreement, the Borrower shall cause the delivery of Mortgage Files held by U.S. Bank National Association as custodian under the Custody Agreement dated as of April 30, 2014 (as amended on May 27, 2014) ( the “Initial Custody Agreement”) among Iron Bridge Mortgage Fund LLC, Iron Bridge Realty LLC, Sunwest Bank and U.S. and National Association (collectively, “Previously Held Mortgage Files”), to the Custodian under this Custody Agreement. The Custodian shall have no obligation to perform a review of the Previously Held Mortgage Files and no obligation to provide a Trust Receipt with respect to such files, but promptly following its receipt of such Previously Held Mortgages Files, the Custodian shall provide a Custodial Loan Transmission and Exception Report with respect to such files; provided such Exception Report shall list only those exceptions previously reported under the Initial Custody Agreement.

Delivery of Mortgage File. Borrower Seller shall deliver release to Custodian the following original documents pertaining to each Loan monthly upon Eligible Asset in accordance with the second Business Day required delivery times set forth in Section 3(a), each of each month for which Mortgage Loans closed or acquired within the prior month. Upon delivery by Borrower, without any further act by any party, Borrower shall be deemed to certify to identified in the Lender that the Loans pledged on such date are not subject to a lien of any third party.related Seller Asset Schedule: (a) With respect to each Eligible Asset: (i) (other than a Wet-Ink Mortgage Loan or a Co-op Loan): (A) The original Mortgage Note or Credit Line Agreement, as applicable, bearing all intervening endorsements, endorsed "Pay to the order of _________ without recourse" and signed in the name of the last endorsee (the "Last Endorsee") by an authorized Person (in the event that the Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"); (B) The original Mortgage with evidence of recording thereon, or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office and, with respect to MERS Designated Mortgage Loans, the Mortgage File; including names MERS as the "mortgagee" or "beneficiary" thereof (or MERS is reflected as the current mortgagee pursuant to an assignment of mortgage with evidence of recording thereon and reflecting a complete chain of title from the named originator in the Mortgage), with a conformed recorded copy to follow as soon as the same is received by Seller; (C) The originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon, or a copy thereof certified copies where indicated by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the followingoriginal that has been duly delivered to the appropriate recording office; (D) The original Assignment of Mortgage in blank for each Eligible Asset, in form and substance acceptable for recording and signed in the name of the Last Endorsee (in the event that the Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"), except in the case of such Eligible Asset that has been originated in the name of or assigned to MERS and registered under the MERS(R)System; (E) The originals of all intervening assignments of mortgage, if any, with evidence of recording thereon, showing an unbroken chain of title from the originator thereof to the Last Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office; (F) The original attorney's opinion of title and abstract of title or the original mortgagee title insurance policy, or if the original mortgagee title insurance policy has not been issued, the irrevocable commitment to issue the same; (G) The original of any security agreement, chattel mortgage or equivalent document executed in connection with the Eligible Asset; (H) If any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power certified by Seller to be a true and correct copy of the original; (I) Either a Seller's Release or a Warehouse Lender's Release; (J) In the case of a MERS Designated Mortgage Loan where any Person is named in the Interim Funder field on the MERS(R) System, an Agreement and Release; and (K) an original release letter for each Eligible Asset which has been the subject of a prior interest of which an Authorized Representative of Custodian has actual knowledge; provided, however, that as to the documents listed in clauses (B), (C) and (E) above which have been delivered or are being delivered to recording offices for recording and have not been returned to Borrower Seller in time to permit their delivery hereunder at the time of such transfer, and in lieu of delivering such original documents or certified conformed copies where permitted, Borrower Seller has delivered to Custodian a true copy thereof, Seller shall deliver such original documents, together with any related policy of title insurance not previously delivered, on behalf of Seller to Custodian promptly after they are received. (ii) With respect to each Co-op Loan: (A) The original Mortgage Note or Credit Line Agreement, as applicable, bearing all intervening endorsements, endorsed "Pay to the order of _________ without recourse" and provided further signed in the name of the last endorsee (the "Last Endorsee") by an authorized Person (in the event that provided thatthe Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"); (B) The original Co-op Security Agreement entered into by the Mortgagor with respect to such Co-op Loan; (C) UCC-3 assignment in blank (or equivalent instrument), sufficient under the laws of the jurisdiction where the related underlying Mortgaged Property is located to reflect of record the sale and assignment of mortgage the Mortgage Loan to Borrower with mortgage recording information thereon, shall be delivered by Borrower to Custodian within fourteen the Buyer; (14D) days Original assignments of Co-op Security Agreement in blank showing a complete chain of assignment from the originator of the related acquisition dateCo-op Loan to the Seller; (E) Original Form UCC-1 and any continuation statements with evidence of filing thereon with respect to such Co-op Loan; (F) Stock certificate representing the stock allocated to the related dwelling unit in the related residential cooperative housing corporation and pledged by the related Mortgagor to the originator of such Co-op Loan with a stock power in blank attached; (G) Original proprietary lease. (H) Original assignment of proprietary lease, in blank, and Borrower all intervening assignments thereof; (I) Original recognition agreement of the interests of the mortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; and (J) Originals of any assumption, consolidation or modification agreements relating to any of the items specified in (A) through (F) above with respect to such Co-op Loan. (b) Seller shall deliver all other release to Custodian the following original or certified documents when receivedpertaining to each Eligible Asset that is a Wet-Ink Mortgage Loan in accordance with the required delivery times set forth in Section 3(a) and set forth below, each of which Mortgage Loans shall be identified in the related Seller Asset Schedule: (i) original promissory note and any allonges;Seller shall cause the Settlement Agent to send Custodian a facsimile of each Escrow Instruction Letter with respect to all Wet-Ink Mortgage Loans to be purchased on each Purchase Date. Custodian shall not be responsible for reviewing such Escrow Instruction Letter, except to the extent requested by Buyer, to verify wire instructions. (ii) original Mortgage reflecting recording information; No later than ten (iii10) original Assignment of Mortgage Business Days following the applicable Purchase Date, Seller shall deliver to Lender (Custodian the documents listed in blank and unrecorded) , together with all intervening assignments of mortgage; (iv) title commitment; (v) policy of title insuranceSection 2(a). (bc) With respect to all Mortgage Files, from : (A) From time to time, Borrower Seller shall forward to Custodian additional original documents or additional documents evidencing any assumption, modification, consolidation or extension of a Mortgage Loan approved by Borrower (or Seller, in accordance with the servicer on its behalf)terms of the Repurchase Agreement, and upon receipt of any such other documents, Custodian shall hold such other documents as the Lender Buyer shall request from time to time. (cB) AdditionallyWith respect to any documents which have been delivered or are being delivered to recording offices for recording and have not been returned to Seller in time to permit their delivery hereunder at the time required, on or promptly following the execution date in lieu of this Agreementdelivering such original documents, Seller shall deliver to Custodian a copy thereof certified by Seller, the Borrower shall cause title company, the delivery Settlement Agent or the closing attorney to be a true and correct copy of Mortgage Files held by U.S. Bank National Association as custodian under the Custody Agreement dated as of April 30, 2014 (as amended on May 27, 2014) ( the “Initial Custody Agreement”) among Iron Bridge Mortgage Fund LLC, Iron Bridge Realty LLC, Sunwest Bank and U.S. and National Association (collectively, “Previously Held Mortgage Files”), original that has been duly delivered to the Custodian under this Custody Agreement. The Custodian shall have no obligation appropriate recording office, with a conformed recorded copy to perform a review of follow as soon as the Previously Held Mortgage Files and no obligation to provide a Trust Receipt with respect to such files, but promptly following its receipt of such Previously Held Mortgages Files, the Custodian shall provide a Custodial Loan Transmission and Exception Report with respect to such files; provided such Exception Report shall list only those exceptions previously reported under the Initial Custody Agreementsame is received by Seller.

Delivery of Mortgage File. Borrower Seller shall deliver release to Custodian the following original documents pertaining to each Loan monthly upon Eligible Asset in accordance with the second Business Day required delivery times set forth in Section 3(a), each of each month for which Mortgage Loans closed or acquired within the prior month. Upon delivery by Borrower, without any further act by any party, Borrower shall be deemed to certify to identified in the Lender that the Loans pledged on such date are not subject to a lien of any third party.related Seller Asset Schedule: (a) With respect to each Eligible Asset: (i) (other than a Wet-Ink Mortgage Loan or a Co-op Loan): (A) The original Mortgage Note bearing all intervening endorsements, endorsed "Pay to the Mortgage File; including originals or certified copies where indicated order of _________ without recourse" and signed in the name of the followinglast endorsee (the "Last Endorsee") by an authorized Person (in the event that the Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"); (B) The original Mortgage with evidence of recording thereon, or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office; (C) The originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon, or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office; (D) The original Assignment of Mortgage in blank for each Eligible Asset, in form and substance acceptable for recording and signed in the name of the Last Endorsee (in the event that the Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"); (E) The originals of all intervening assignments of mortgage, if any, with evidence of recording thereon, showing an unbroken chain of title from the originator thereof to the Last Endorsee or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office; (F) The original attorney's opinion of title and abstract of title or the original mortgagee title insurance policy, or if the original mortgagee title insurance policy has not been issued, the irrevocable commitment to issue the same; (G) The original of any security agreement, chattel mortgage or equivalent document executed in connection with the Eligible Asset; (H) If any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power certified by Seller to be a true and correct copy of the original; (I) Either a Seller's Release or a Warehouse Lender's Release; and (J) an original release letter for each Eligible Asset which has been the subject of a prior interest of which an Authorized Representative of Custodian has actual knowledge; provided, however, that as to the documents listed in clauses (B), (C) and (E) above which have been delivered or are being delivered to recording offices for recording and have not been returned to Borrower Seller in time to permit their delivery hereunder at the time of such transfer, and in lieu of delivering such original documents or certified conformed copies where permitted, Borrower Seller has delivered to Custodian a true copy thereof, Seller shall deliver such original documents, together with any related policy of title insurance not previously delivered, on behalf of Seller to Custodian promptly after they are received. (ii) With respect to each Co-op Loan: (A) The original Mortgage Note bearing all intervening endorsements, endorsed "Pay to the order of _________ without recourse" and provided further signed in the name of the last endorsee (the "Last Endorsee") by an authorized Person (in the event that provided thatthe Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"); (B) The original Co-op Security Agreement entered into by the Mortgagor with respect to such Co-op Loan; (C) UCC-3 assignment in blank (or equivalent instrument), sufficient under the laws of the jurisdiction where the related Underlying Mortgaged Property is located to reflect of record the sale and assignment of mortgage the Mortgage Loan to Borrower with mortgage recording information thereon, shall be delivered by Borrower to Custodian within fourteen the Buyer; (14D) days Original assignments of Co-op Security Agreement in blank showing a complete chain of assignment from the originator of the related acquisition dateCo-op Loan to the Seller; (E) Original Form UCC-1 and any continuation statements with evidence of filing thereon with respect to such Co-op Loan; (F) Stock certificate representing the stock allocated to the related dwelling unit in the related residential cooperative housing corporation and pledged by the related Mortgagor to the originator of such Co-op Loan with a stock power in blank attached; (G) Original proprietary lease. (H) Original assignment of proprietary lease, in blank, and Borrower all intervening assignments thereof; (I) Original recognition agreement of the interests of the mortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; and (J) Originals of any assumption, consolidation or modification agreements relating to any of the items specified in (A) through (F) above with respect to such Co-op Loan. (b) Seller shall deliver all other release to Custodian the following original or certified documents when receivedpertaining to each Eligible Asset that is a Wet-Ink Mortgage Loan in accordance with the required delivery times set forth in Section 3(a) and set forth below, each of which Mortgage Loans shall be identified in the related Seller Asset Schedule: (i) original promissory note and any allonges;Seller shall cause the Settlement Agent to send Custodian a facsimile of each Escrow Instruction Letter with respect to all Wet-Ink Mortgage Loans to be purchased on each Purchase Date. Custodian shall not be responsible for reviewing such Escrow Instruction Letter, except to the extent requested by Buyer, to verify wire instructions. (ii) original Mortgage reflecting recording information; No later than ten (iii10) original Assignment of Mortgage Business Days following the applicable Purchase Date, Seller shall deliver to Lender (Custodian the documents listed in blank and unrecorded) , together with all intervening assignments of mortgage; (iv) title commitment; (v) policy of title insuranceSection 2(a). (bc) With respect to all Mortgage Files, from : (A) From time to time, Borrower Seller shall forward to Custodian additional original documents or additional documents evidencing any assumption, modification, consolidation or extension of a Mortgage Loan approved by Borrower (or Seller, in accordance with the servicer on its behalf)terms of the Repurchase Agreement, and upon receipt of any such other documents, Custodian shall hold such other documents as the Lender Buyer shall request from time to time. (cB) AdditionallyWith respect to any documents which have been delivered or are being delivered to recording offices for recording and have not been returned to Seller in time to permit their delivery hereunder at the time required, on or promptly following the execution date in lieu of this Agreementdelivering such original documents, Seller shall deliver to Custodian a copy thereof certified by Seller, the Borrower shall cause title company, the delivery Settlement Agent or the closing attorney to be a true and correct copy of Mortgage Files held by U.S. Bank National Association as custodian under the Custody Agreement dated as of April 30, 2014 (as amended on May 27, 2014) ( the “Initial Custody Agreement”) among Iron Bridge Mortgage Fund LLC, Iron Bridge Realty LLC, Sunwest Bank and U.S. and National Association (collectively, “Previously Held Mortgage Files”), original that has been duly delivered to the Custodian under this Custody Agreement. The Custodian shall have no obligation appropriate recording office, with a conformed recorded copy to perform a review of follow as soon as the Previously Held Mortgage Files and no obligation to provide a Trust Receipt with respect to such files, but promptly following its receipt of such Previously Held Mortgages Files, the Custodian shall provide a Custodial Loan Transmission and Exception Report with respect to such files; provided such Exception Report shall list only those exceptions previously reported under the Initial Custody Agreementsame is received by Seller.

Delivery of Mortgage File. Borrower Seller shall deliver release to Custodian the following original documents pertaining to each Loan monthly upon Eligible Asset in accordance with the second Business Day required delivery times set forth in Section 3(a), each of each month for which Mortgage Loans closed or acquired within the prior month. Upon delivery by Borrower, without any further act by any party, Borrower shall be deemed to certify to identified in the Lender that the Loans pledged on such date are not subject to a lien of any third party.related Seller Asset Schedule: (a) With respect to each Eligible Asset: (i) (other than a Wet-Ink Mortgage Loan or a Co-op Loan): (A) The original Mortgage Note or Credit Line Agreement, as applicable, bearing all intervening endorsements, endorsed “Pay to the order of without recourse” and signed in the name of the last endorsee (the “Last Endorsee”) by an authorized Person (in the event that the Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: “[Last Endorsee], successor by merger to [name of predecessor]”; in the event that the Eligible Asset was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: “[Last Endorsee], formerly known as [previous name]”); (B) The original Mortgage with evidence of recording thereon, or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office and, with respect to MERS Designated Mortgage Loans, the Mortgage File; including names MERS as the “mortgagee” or “beneficiary” thereof (or MERS is reflected as the current mortgagee pursuant to an assignment of mortgage with evidence of recording thereon and reflecting a complete chain of title from the named originator in the Mortgage), with a conformed recorded copy to follow as soon as the same is received by Seller; (C) The originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon, or a copy thereof certified copies where indicated by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the followingoriginal that has been duly delivered to the appropriate recording office; (D) The original Assignment of Mortgage in blank for each Eligible Asset, in form and substance acceptable for recording and signed in the name of the Last Endorsee (in the event that the Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: “[Last Endorsee], successor by merger to [name of predecessor]”; in the event that the Eligible Asset was acquired or originated while doing business under another name, the signature must be in the following form: “[Last Endorsee], formerly known as [previous name]”), except in the case of such Eligible Asset that has been originated in the name of or assigned to MERS and registered under the MERS® System; (E) The originals of all intervening assignments of mortgage, if any, with evidence of recording thereon, showing an unbroken chain of title from the originator thereof to the Last Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office; (F) The original attorney’s opinion of title and abstract of title or the original mortgagee title insurance policy, or if the original mortgagee title insurance policy has not been issued, the irrevocable commitment to issue the same; (G) The original of any security agreement, chattel mortgage or equivalent document executed in connection with the Eligible Asset; (H) If any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power certified by Seller to be a true and correct copy of the original; (I) Either a Seller’s Release or a Warehouse Lender’s Release; (J) In the case of a MERS Designated Mortgage Loan where any Person is named in the Interim Funder field on the MERS® System, an Agreement and Release; and (K) an original release letter for each Eligible Asset which has been the subject of a prior interest of which an Authorized Representative of Custodian has actual knowledge; provided, however, that as to the documents listed in clauses (B), (C) and (E) above which have been delivered or are being delivered to recording offices for recording and have not been returned to Borrower Seller in time to permit their delivery hereunder at the time of such transfer, and in lieu of delivering such original documents or certified conformed copies where permitted, Borrower Seller has delivered to Custodian a true copy thereof, Seller shall deliver such original documents, together with any related policy of title insurance not previously delivered, on behalf of Seller to Custodian promptly after they are received. (ii) With respect to each Co-op Loan: (A) The original Mortgage Note or Credit Line Agreement, as applicable, bearing all intervening endorsements, endorsed “Pay to the order of without recourse” and provided further signed in the name of the last endorsee (the “Last Endorsee”) by an authorized Person (in the event that provided thatthe Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: “[Last Endorsee], successor by merger to [name of predecessor]”; in the event that the Eligible Asset was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: “[Last Endorsee], formerly known as [previous name]”); (B) The original Co-op Security Agreement entered into by the Mortgagor with respect to such Co-op Loan; (C) UCC-3 assignment in blank (or equivalent instrument), sufficient under the laws of the jurisdiction where the related underlying Mortgaged Property is located to reflect of record the sale and assignment of mortgage the Mortgage Loan to Borrower with mortgage recording information thereon, shall be delivered by Borrower to Custodian within fourteen the Buyer; (14D) days Original assignments of Co-op Security Agreement in blank showing a complete chain of assignment from the originator of the related acquisition dateCo-op Loan to the Seller; (E) Original Form UCC-1 and any continuation statements with evidence of filing thereon with respect to such Co-op Loan; (F) Stock certificate representing the stock allocated to the related dwelling unit in the related residential cooperative housing corporation and pledged by the related Mortgagor to the originator of such Co-op Loan with a stock power in blank attached; (G) Original proprietary lease. (H) Original assignment of proprietary lease, in blank, and Borrower all intervening assignments thereof; (I) Original recognition agreement of the interests of the mortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; and (J) Originals of any assumption, consolidation or modification agreements relating to any of the items specified in (A) through (F) above with respect to such Co-op Loan. (b) Seller shall deliver all other release to Custodian the following original or certified documents when receivedpertaining to each Eligible Asset that is a Wet-Ink Mortgage Loan in accordance with the required delivery times set forth in Section 3(a) and set forth below, each of which Mortgage Loans shall be identified in the related Seller Asset Schedule: (i) original promissory note and any allonges;Seller shall cause the Settlement Agent to send Custodian a facsimile of each Escrow Instruction Letter with respect to all Wet-Ink Mortgage Loans to be purchased on each Purchase Date. Custodian shall not be responsible for reviewing such Escrow Instruction Letter, except to the extent requested by Buyer, to verify wire instructions. (ii) original Mortgage reflecting recording information; No later than ten (iii10) original Assignment of Mortgage Business Days following the applicable Purchase Date, Seller shall deliver to Lender (Custodian the documents listed in blank and unrecorded) , together with all intervening assignments of mortgage; (iv) title commitment; (v) policy of title insuranceSection 2(a). (bc) With respect to all Mortgage Files, from : (A) From time to time, Borrower Seller shall forward to Custodian additional original documents or additional documents evidencing any assumption, modification, consolidation or extension of a Mortgage Loan approved by Borrower (or Seller, in accordance with the servicer on its behalf)terms of the Repurchase Agreement, and upon receipt of any such other documents, Custodian shall hold such other documents as the Lender Buyer shall request from time to time. (cB) AdditionallyWith respect to any documents which have been delivered or are being delivered to recording offices for recording and have not been returned to Seller in time to permit their delivery hereunder at the time required, on or promptly following the execution date in lieu of this Agreementdelivering such original documents, Seller shall deliver to Custodian a copy thereof certified by Seller, the Borrower shall cause title company, the delivery Settlement Agent or the closing attorney to be a true and correct copy of Mortgage Files held by U.S. Bank National Association as custodian under the Custody Agreement dated as of April 30, 2014 (as amended on May 27, 2014) ( the “Initial Custody Agreement”) among Iron Bridge Mortgage Fund LLC, Iron Bridge Realty LLC, Sunwest Bank and U.S. and National Association (collectively, “Previously Held Mortgage Files”), original that has been duly delivered to the Custodian under this Custody Agreement. The Custodian shall have no obligation appropriate recording office, with a conformed recorded copy to perform a review of follow as soon as the Previously Held Mortgage Files and no obligation to provide a Trust Receipt with respect to such files, but promptly following its receipt of such Previously Held Mortgages Files, the Custodian shall provide a Custodial Loan Transmission and Exception Report with respect to such files; provided such Exception Report shall list only those exceptions previously reported under the Initial Custody Agreementsame is received by Seller.

Delivery of Mortgage File. With respect to each Advance, (a) the Borrower shall provide oral notice to the Lender and the Custodian of the approximate amount of the principal balance of the Mortgage Loans to be used as Collateral no later than 5:00 p.m. eastern time on the day prior to the requested Funding Date and (b) no later than 10:30 a.m. eastern time on the Funding Date, the Borrower shall deliver to the Custodian the following original documents pertaining to each Loan monthly upon the second Business Day of each month for Eligible Mortgage Loans closed or acquired within the prior month. Upon delivery by Borrower, without any further act by any party, Borrower shall to be deemed to certify pledged to the Lender on such Funding Date each of which Mortgage Loans shall be identified in a Mortgage Loan Data File delivered by 12:00 p.m. eastern time on the requested Funding Date, to both the Custodian and the Lender by electronic medium acceptable to the Custodian and the Lender: (I) In the case of Dry Loans: a) The original Mortgage Note bearing all intervening endorsements showing a complete chain of endorsements from the originator of such Mortgage Loan to the last endorsee (the "Last Endorsee"), endorsed by the Last Endorsee, without recourse in the following form: "Pay to the order of _________, without recourse" and signed in the name of the Last Endorsee by an authorized officer; b) The original Mortgage with evidence of recording indicated thereon, subject to paragraph III below; c) An original Assignment of Mortgage, in suitable form for recordation in the jurisdiction in which the related Mortgaged Property is located, such assignment to be in blank and signed in the name of the Last Endorsee by an authorized person; d) The originals of all intervening assignments of the Mortgage (with evidence of recording thereon) showing a complete chain of assignments from the originator of such Mortgage Loan to the Last Endorsee, subject to paragraph III below; e) Any assumption, modification (with evidence of recording thereon), consolidation or extension agreements; f) The original policy of title insurance (or a commitment for title insurance, if the policy is being held by the title insurance company pending recordation of the Mortgage) or attorney's opinion of title; and g) A Notice of Borrowing and Pledge executed by an authorized representative of the Borrower together with a Mortgage Loan List and such other documentation required under the Loan Agreement. In the event that the Loans pledged on such date are not subject Lender shall reasonably request, the Borrower shall deliver to a lien the Custodian the following additional documents: h) The original of the guarantee executed in connection with the Mortgage Note (if any); i) The original of any third partysecurity agreement, chattel mortgage or equivalent document executed in connection with the Mortgage Loan; and j) The certificate of primary mortgage guaranty insurance, if any, issued with respect to such Mortgage Loan. (aII) In the Mortgage File; including originals or certified copies where indicated case of Wet Loans: A Notice of Borrowing and Pledge executed by an authorized representative of the followingBorrower together with a Mortgage Loan List and such other documentation required under the Loan Agreement. (III) With respect to all Mortgage Files: From time to time, providedthe Borrower shall forward to the Custodian additional original documents or additional documents evidencing any assumption, howevermodification, that as consolidation or extension of a Mortgage Loan approved by the Borrower, in accordance with the terms of the Loan Agreement, and upon receipt of any such other documents, the Custodian shall hold such other documents for the Lender hereunder. With respect to any documents which have been delivered or are being delivered to recording offices for recording and have not been returned to the Borrower in time to permit their delivery hereunder at the time of such transferrequired, and in lieu of delivering such original documents or certified copies where permitted, Borrower has delivered to Custodian a true copy thereof, and provided further that provided thatdocuments, the original assignment of mortgage to Borrower with mortgage recording information thereon, shall be delivered by Borrower to Custodian within fourteen (14) days of the related acquisition date, and Borrower shall deliver all other to the Custodian a copy thereof certified by an authorized representative of the Borrower as a true, correct and complete copy of the original or certified which has been transmitted for recordation. The Borrower shall deliver such original documents to the Custodian promptly when they are received: (i) original promissory note and any allonges; (ii) original Mortgage reflecting recording information; (iii) original Assignment of Mortgage to Lender (in blank and unrecorded) , together with all intervening assignments of mortgage; (iv) title commitment; (v) policy of title insurance. (bIV) With respect to all Mortgage FilesLoans with Exceptions: With respect to any Mortgage Loan, from time to time, if the Custodian has identified such Mortgage Loan as having any Exception or if the Borrower shall forward to Custodian additional original documents or additional documents evidencing has knowledge of any assumption, modification, consolidation or extension of a Loan approved by Borrower (or the servicer on its behalf), and Custodian shall hold such other documents as the Lender shall request from time to time. (c) Additionally, on or promptly following the execution date of this AgreementException, the Borrower shall cause promptly and diligently notify the delivery Lender of Mortgage Files held by U.S. Bank National Association as custodian under the Custody Agreement dated as of April 30, 2014 (as amended on May 27, 2014) ( the “Initial Custody Agreement”) among Iron Bridge Mortgage Fund LLC, Iron Bridge Realty LLC, Sunwest Bank and U.S. and National Association (collectively, “Previously Held Mortgage Files”), to the Custodian under this Custody Agreement. The Custodian shall have no obligation to perform a review of the Previously Held Mortgage Files and no obligation to provide a Trust Receipt with respect to such files, but promptly following its receipt of such Previously Held Mortgages Files, the Custodian shall provide a Custodial Loan Transmission and Exception Report with respect to such files; provided any such Exception Report and shall list only those exceptions previously reported under the Initial Custody Agreementpromptly and diligently attempt to cure any such Exception.

Delivery of Mortgage File. (a) The Borrower shall from time to time deliver Mortgage Files to the Custodian to be held hereunder, which shall be reviewed by the Custodian as provided in Section 3. With respect to each Advance, (i) in the case of Dry Loans, the Borrower shall provide written notice, in the form of a Notice of Borrowing and Pledge together with the related Mortgage Loan Transmission, to the Lender and the Custodian with respect to such Dry Loans which are to be used as Collateral no later than 6:00 p.m. (eastern time) on the day prior to the requested Funding Date, (ii) in the case of AM Funded Wet Loans, the Borrower shall provide written notice, in the form of a Notice of Borrowing and Pledge together with the related Mortgage Loan Transmission to the Lender and the Custodian with respect to such AM Funded Wet Loans which are to be used as Collateral no later than 6:00 p.m. (eastern time) on the day prior to the requested Funding Date, (iii) in the case of PM Funded Wet Loans, the Borrower shall provide written notice, in the form of a Notice of Borrowing and Pledge together with the related Mortgage Loan Transmission, to the Lender and the Custodian, and with respect to such PM Funded Wet Loans which are to be used as Collateral no later than 3:00 p.m. (eastern time) on the requested Funding Date, and (iv) in the case of Dry Loans, the Borrower shall have delivered to the Custodian the items set forth on Annex 16 hereto pertaining to the Dry Loans which shall secure the Advance to be made on such Funding Date, not later than 12:00 noon (eastern time) on the Business Day prior to the requested Funding Date. Notwithstanding anything herein to the contrary, in the event that more than 250 Mortgage Files are to be delivered on any Funding Date, the Custodian shall have such additional time to complete its review of such Mortgage Files in excess of 250 as agreed between the Custodian and the related Borrower. In such event, the related Borrower shall deliver the Mortgage Files to the Custodian so that the following documents pertaining Custodian shall have the time required to each Loan monthly upon complete its review and issue the second Business Day required Trust Receipts on the Funding Date. Following the Custodian's review of each month for Loans closed or acquired within the prior month. Upon delivery by Borroweritems specified above, without any further act by any party, Borrower the Custodian shall be deemed to certify deliver to the Lender that a notice of intent to Issue Trust Receipt not later than 7:00 p.m. (eastern time) on the Loans pledged day prior to the requested Funding Date for any AM Funded Wet Loans, not later than 4:00 p.m. (eastern time) on such date are the requested Funding Date for any PM Funded Wet Loans, and not subject to a lien of later than 12:00 noon (eastern time) on the requested Funding Date for any third partyDry Loans. (ab) From time to time, the Borrower shall forward to the Custodian additional original documents or additional documents evidencing any assumption, modification, consolidation or extension of a Mortgage File; including originals Loan approved by the Borrower, or certified copies where indicated other documents with respect to a Mortgage Loan, in accordance with the terms of the followingLoan Agreement, providedand upon receipt of any such other documents, however, that as the Custodian shall hold such other documents for the Lender hereunder. With respect to any documents which have been delivered or are being delivered to recording offices for recording and have not been returned to the related Borrower in time to permit their delivery hereunder at the time of such transferrequired, and in lieu of delivering such original documents or certified copies where permitteddocuments, Borrower has delivered to Custodian a true copy thereof, and provided further that provided that, the original assignment of mortgage to Borrower with mortgage recording information thereon, shall be delivered by Borrower to Custodian within fourteen (14) days of the related acquisition date, and such Borrower shall deliver all other to the Custodian a copy thereof certified by such Borrower, originating lender, Settlement Agent, title company or escrow closing company as a true, correct and complete copy of the original or certified documents when received: (i) original promissory note and any allonges; (ii) original Mortgage reflecting recording information; (iii) original Assignment of Mortgage to Lender (in blank and unrecorded) , together with all intervening assignments of mortgage; (iv) title commitment; (v) policy of title insurance. (b) With respect to all Mortgage Files, from time to time, which has been transmitted for recordation. Such Borrower shall forward to Custodian additional deliver such original documents or additional documents evidencing any assumption, modification, consolidation or extension of a to the Custodian promptly when they are received if the related Mortgage Loan approved by Borrower (or the servicer on its behalf), and Custodian shall hold such other documents as the Lender shall request from time is then subject to timethis Custodial Agreement. (c) AdditionallyWith respect to any Mortgage Loan, on if the Custodian has identified such Mortgage Loan as having any Exception or promptly following if the execution date Borrower has knowledge of this Agreementany Exception, the Borrower shall cause promptly and diligently notify the delivery Lender of Mortgage Files held by U.S. Bank National Association as custodian under the Custody Agreement dated as of April 30, 2014 (as amended on May 27, 2014) ( the “Initial Custody Agreement”) among Iron Bridge Mortgage Fund LLC, Iron Bridge Realty LLC, Sunwest Bank and U.S. and National Association (collectively, “Previously Held Mortgage Files”), to the Custodian under this Custody Agreement. The Custodian shall have no obligation to perform a review of the Previously Held Mortgage Files and no obligation to provide a Trust Receipt with respect to such files, but promptly following its receipt of such Previously Held Mortgages Files, the Custodian shall provide a Custodial Loan Transmission and Exception Report with respect to such files; provided any such Exception Report and shall list only those exceptions previously reported under the Initial Custody Agreementpromptly and diligently attempt to cure any such Exception.

Delivery of Mortgage File. Borrower Seller shall deliver release to Custodian the following original documents pertaining to each Loan monthly upon Eligible Asset in accordance with the second Business Day required delivery times set forth in Section 3(a), each of each month for which Mortgage Loans closed or acquired within the prior month. Upon delivery by Borrower, without any further act by any party, Borrower shall be deemed identified in the related Seller Asset Schedule: (i) With respect to certify each Eligible Asset (other than a Wet-Ink Mortgage Loan): (A) The original Mortgage Note bearing all intervening endorsements, endorsed "Pay to the Lender order of _________ without recourse" and signed in the name of the last endorsee (the "Last Endorsee") by an authorized Person (in the event that the Loans pledged on such date are not subject Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"); (B) The original Mortgage with evidence of recording thereon, or a lien copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of any third party. the original that has been duly delivered to the appropriate recording office, and a conformed recorded copy to follow as soon as the same is received by Seller, and, with respect to MERS Designated Mortgage Loans, (a) the Mortgage File; including names MERS as the "mortgagee" or "beneficiary" thereof (or MERS is reflected as the current mortgagee pursuant to an assignment of mortgage with evidence of recording thereon and reflecting a complete chain of title from the named originator in the Mortgage) and (b) in reviewing the Mortgage, the Custodian shall confirm that each MERS Designated Mortgage Loan has been issued a MERS Identification Number; (C) The originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon, or a copy thereof certified copies where indicated by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the followingoriginal that has been duly delivered to the appropriate recording office; (D) The original Assignment of Mortgage in blank for each Eligible Asset, in form and substance acceptable for recording and signed in the name of the Last Endorsee (in the event that the Eligible Asset was acquired by the Last Endorsee in a merger, the signature must be in the following form: "[Last Endorsee], successor by merger to [name of predecessor]"; in the event that the Eligible Asset was acquired or originated while doing business under another name, the signature must be in the following form: "[Last Endorsee], formerly known as [previous name]"), except in the case of such Eligible Asset that has been originated in the name of or assigned to MERS and registered under the MERS(R) System; (E) The originals of all intervening assignments of mortgage, if any, with evidence of recording thereon, showing an unbroken chain of title from the originator thereof to the Last Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) or a copy thereof certified by Seller, the title company, the Settlement Agent or the closing attorney to be a true and correct copy of the original that has been duly delivered to the appropriate recording office; (F) The original attorney's opinion of title and abstract of title or the original mortgagee title insurance policy, or if the original mortgagee title insurance policy has not been issued, the irrevocable commitment to issue the same; (G) The original of any security agreement, chattel mortgage or equivalent document executed in connection with the Eligible Asset; (H) If any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power certified by Seller to be a true and correct copy of the original; (I) Either a Seller's Release or a Warehouse Lender's Release; (J) In the case of a MERS Designated Mortgage Loan where any Person is named in the Interim Funder field on the MERS(R) System, an Agreement and Release; (K) With respect to each High Cost Loan, a notice of assignee's liability under the Homeowner and Equity Protection Act of 1994, P.L. 103-325, 000 Xxxx 0000; and (L) an original release letter for each Eligible Asset which has been the subject of a prior interest of which an Authorized Representative of the Custodian has actual knowledge; provided, however, that as to the documents listed in clauses (B), (C) and (E) above which have been delivered or are being delivered to recording offices for recording and have not been returned to Borrower Seller in time to permit their delivery hereunder at the time of such transfer, and in lieu of delivering such original documents or certified conformed copies where permitted, Borrower Seller has delivered to Custodian a true copy thereof, and provided further that provided thatSeller shall deliver such original documents, the original assignment together with any related policy of mortgage to Borrower with mortgage recording information thereontitle insurance not previously delivered, shall be delivered by Borrower on behalf of Seller to Custodian within fourteen (14) days of the related acquisition date, and Borrower shall deliver all other original or certified documents when promptly after they are received: (i) original promissory note and any allonges;. (ii) original With respect to each Wet-Ink Mortgage reflecting recording information;Loan: (A) To the extent requested by Buyer, Seller shall (or shall cause the Settlement Agent to) send Custodian a facsimile of each Escrow Instruction Letter with respect to all Wet-Ink Mortgage Loans to be purchased on each Purchase Date. (B) No later than eight (8) Business Days following the applicable Purchase Date, Seller shall deliver to Custodian the documents listed in Section 2(i). (iii) original Assignment of Mortgage to Lender (in blank and unrecorded) , together with all intervening assignments of mortgage; (iv) title commitment; (v) policy of title insurance. (b) With respect to all Mortgage Files, from : (A) From time to time, Borrower Seller shall forward to Custodian additional original documents or additional documents evidencing any assumption, modification, consolidation or extension of a Mortgage Loan approved by Borrower (or Seller, in accordance with the servicer on its behalf)terms of the Repurchase Agreement, and upon receipt of any such other documents, Custodian shall hold such other documents as the Lender Buyer shall request from time to time. (cB) AdditionallyWith respect to any documents which have been delivered or are being delivered to recording offices for recording and have not been returned to Seller in time to permit their delivery hereunder at the time required, on or promptly following the execution date in lieu of this Agreementdelivering such original documents, Seller shall deliver to Custodian a copy thereof certified by Seller, the Borrower shall cause title company, the delivery Settlement Agent or the closing attorney to be a true and correct copy of Mortgage Files held by U.S. Bank National Association as custodian under the Custody Agreement dated as of April 30, 2014 (as amended on May 27, 2014) ( the “Initial Custody Agreement”) among Iron Bridge Mortgage Fund LLC, Iron Bridge Realty LLC, Sunwest Bank and U.S. and National Association (collectively, “Previously Held Mortgage Files”), original that has been duly delivered to the Custodian under this Custody Agreement. The Custodian shall have no obligation appropriate recording office, with a conformed recorded copy to perform a review of follow as soon as the Previously Held Mortgage Files and no obligation to provide a Trust Receipt with respect to such files, but promptly following its receipt of such Previously Held Mortgages Files, the Custodian shall provide a Custodial Loan Transmission and Exception Report with respect to such files; provided such Exception Report shall list only those exceptions previously reported under the Initial Custody Agreementsame is received by Seller.