Common use of Liquidation of Mortgage Loans Clause in Contracts

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx or Xxxxxxx Mac. In such connection, the Servicer shall from its own funds make all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx Fannie Mae or Xxxxxxx Freddie Mac. In such connection, the Servicer shall from its own funds make all xxx xxn xxnds xxxx xxl necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx Fxxxxx Mxx or Xxxxxxx Fxxxxxx Mac. In such connection, the Servicer shall from its own funds make all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx Fannie Mae or Xxxxxxx Freddie Mac. In such connectioncxxxxxxixx, the Servicer Xxxxxxer shall from its own funds make all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx Fannie Mae or Xxxxxxx Freddie Mac. In such connectioncxxxxxxixx, the Servicer Xxxxxxer shall from its own funds make all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx Fannie Mae or Xxxxxxx Freddie Mac. In such connection, the Servicer shall from its own funds make frxx xxx xxx funxx xxxx all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx Fannie Mae or Xxxxxxx Freddie Mac. In such connection, the Servicer shall from its own funds make fxxx xxs xxn fuxxx xxxe all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx Fannie Mae or Xxxxxxx Freddie Mac. In such connection, the Servicer shall from its own funds make all xxx xxn xxnds xxxx xxl necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. In the event that any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform or observe any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer will proceed diligently to collect all payments due and shall take such action as it shall reasonably deem to be in the best interest of the Owner. In the event that any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with Acceptable Servicing Procedures and the guidelines with respect to the timelines, fees and costs set forth by Xxxxxx Xxx or Xxxxxxx Mac. In such connection, the Servicer shall from its own funds make all necessary and proper Servicing Advances.