Foreclosure Proceedings. The first sentence of Subsection 11.13 is hereby deleted and replaced in its entirety with the following: Subject to Subsection 11.02, in the event that title to the Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale shall be taken in the name of the Trust, where permitted by applicable law or regulation, and where not so permitted, in the name of the trustee of the Trust or its nominee.
Appears in 8 contracts
Samples: Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2012-1), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2012-1), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2011-2)
