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: Mortgage Loan Purchase Agreement (Bear Stearns ARM Trust 2006-1), Mortgage Loan Purchase Agreement (Bear Stearns Asset Backed Securities I LLC), Mortgage Loan Purchase Agreement (Bear Stearns ARM Trust 2006-1)
Due-on-Sale Clauses; Assumption Agreements. To the extent provided in the Xxxxx Wxxxx 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 Wxxxx 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 Wxxxx 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 Wxxxx Fargo Servicing Agreement.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-9), Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5)
