Common use of Examination of Mortgage Clause in Contracts

Examination of Mortgage. Prior to the Closing Date, the Seller shall make the Mortgage Files available to the Purchaser or its designee for examination at the Seller's offices or at such other place as the Seller shall reasonably specify. The Purchaser or its designee may make such examination at any time on or before the Closing Date. If the Purchaser or its designee makes such examination prior to the Closing and identifies any Mortgage Loans that do not conform to the requirements of the Purchaser as described in this Agreement, such Mortgage Loans shall be deleted from the Mortgage Loan Schedule and may be replaced, prior to the Closing Date by substitute Mortgage Loans acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase all or part of the Mortgage Loans without conducting any partial or complete examination.

Examination of Mortgage. Prior to the Closing Date, the Seller shall make the Mortgage Files available to the Purchaser or its designee for examination at the Seller's ’s offices or at such other place as the Seller shall reasonably specify. The Purchaser or its designee may make such examination at any time on or before the Closing Date. If the Purchaser or its designee makes such examination prior to the Closing and identifies any Mortgage Loans that do not conform to the requirements of the Purchaser as described in this Agreement, such Mortgage Loans shall be deleted from the Mortgage Loan Schedule and may be replaced, prior to the Closing Date by substitute Mortgage Loans acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase all or part of the Mortgage Loans without conducting any partial or complete examination.