Common use of Due-on-Sale Clauses; Assumption Agreements Clause in Contracts

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in the Xxxxx Fargo Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Servicer to enforce such clauses in accordance with the Xxxxx Fargo Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with the Xxxxx Fargo Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with the Xxxxx Fargo Servicing Agreement.

Appears in 7 contracts

Samples: Sale and Servicing Agreement (Bear Stearns ARM Trust 2006-1), Sale and Servicing Agreement (Bear Stearns ARM Trust 2006-1), Sale and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC)

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