Common use of Initial and Final Certifications Clause in Contracts

Initial and Final Certifications. (a) Within sixty (60) days after the Closing Date, the Custodian shall ascertain that all documents specified in Sections 2(a)(i)-(vi) of this Custodial Agreement are in its possession, and shall deliver to the Trustee a Trust Receipt and Initial Certification certifying, subject to any exceptions noted thereon that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification): (i) all documents required to be delivered to it pursuant to Sections 2(a)(i)-(vi) of this Custodial Agreement are in its possession; (ii) such documents have been reviewed by it; and have not been mutilated, damaged or torn and relate to such Mortgage Loan and (iii) based on its examination and only as to the foregoing, the information set forth in the Mortgage Loan Schedule relating to the Mortgage Loan identifying number, the city, state, and zip code of the Mortgaged Property, the type of Residential Dwelling constituting the Mortgaged Property or a designation that the Mortgaged Property is a multi-family property, the original months to maturity, the Mortgage Interest Rate of the Mortgage Loan as of the Cut-off Date, and whether the Mortgage Loan has a prepayment penalty accurately reflects information set forth in the Mortgage File; (iv) all Assignments of Mortgage or intervening assignments of mortgage, as applicable, have been submitted for recording; and (v) each Mortgage Note has been endorsed as provided in Section 2(a)(i) of this Custodial Agreement and each Mortgage has been assigned in accordance with Section 2(a)(iii) of this Custodial Agreement. (b) Prior to the first anniversary date of this Custodial Agreement the Custodian shall deliver to the Depositor, the Trustee and the Servicer a Trust Receipt and Final Certification in the form annexed hereto as Exhibit 2B evidencing the completeness of the Mortgage Files, with any applicable exceptions noted thereon.

Initial and Final Certifications. (a) Within sixty (60) days after the Closing Date, the Custodian shall ascertain that all documents specified in Sections 2(a)(i)-(vi) of this Custodial Agreement are in its possession, and shall deliver to the Trustee a Trust Receipt and Initial Certification certifying, subject to any exceptions noted thereon that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification): (i) all documents required to be delivered to it pursuant to Sections 2(a)(i)-(vi) of this Custodial Agreement are in its possession; (ii) such documents have been reviewed by it; and have not been mutilated, damaged or torn and relate to such Mortgage Loan and (iii) based on its examination and only as to the foregoing, the information set forth in the Mortgage Loan Schedule relating to the Mortgage Loan identifying number, the city, state, and zip code of the Mortgaged Property, the type of Residential Dwelling constituting the Mortgaged Property or a designation that the Mortgaged Property is a multi-family property, the original months to maturity, the Mortgage Interest Rate of the Mortgage Loan as of the Cut-off Date, and whether the Mortgage Loan has a prepayment penalty accurately reflects information set forth in the Mortgage File; (iv) all Assignments of Mortgage or intervening assignments of mortgage, as applicable, have been submitted for recording; and (v) each Mortgage Note has been endorsed as provided in Section 2(a)(i) of this Custodial Agreement and each Mortgage has been assigned in accordance with Section 2(a)(iii) of this Custodial Agreement. (b) Prior to the first anniversary date of this Custodial Agreement the Custodian shall deliver to the Depositor, the Trustee and the Servicer a Trust Receipt and Final Certification in the form annexed hereto as Exhibit 2B evidencing the completeness of the Mortgage Files, with any applicable exceptions noted thereon.