Common use of Maintenance, Custody and Ownership of Tax Lien Files and Records Clause in Contracts

Maintenance, Custody and Ownership of Tax Lien Files and Records. On or prior to the applicable Closing Date, the Issuer shall deliver or cause to be delivered the original Tax Lien Certificate for each Tax Lien to the Collateral Agent and Custodian under the Paying Agent and Custody Agreement. On the applicable Closing Date, the Issuer shall deliver or cause to be delivered, a copy of the original Tax Lien Certificate for each Tax Lien to the Servicer, and the Servicer shall retain such copy as a part of the Servicer’s Tax Lien File for such Tax Lien. The Servicer shall also maintain, as a part of the Servicer’s Tax Lien File for each Tax Lien (i) copies of any instruments or documents that modify or supplement the terms or conditions of the applicable Tax Lien Certificate, and (ii) all other papers and documents generated by or coming into the possession of the Servicer (including but not limited to, tax receipts, insurance premium receipts, ledger sheets, payment records, insurance claim files and correspondence, foreclosure files and correspondence, current and historical computerized data files, whether developed or originated by the Servicer or others) that are required to document or service such Tax Lien. The Servicer’s Tax Lien Files shall remain a part of the Trust Estate at all times, subject however, to the right of the Servicer to retain copies of the Servicer’s Tax Lien Files for its own purposes, and all such records, documents and instruments in the possession and custody of the Servicer constituting a part of the Servicer's Tax Lien File relating to such Tax Lien shall be held by the Servicer as the agent and bailee of the Collateral Agent and Custodian for purposes of perfecting the Collateral Agent and Custodian’s security interest in the Tax Liens, in the event it is determined that such perfection is achieved through possession by the secured party or its agent and bailee as may be contemplated by the Uniform Commercial Code or other applicable Law. On written request of the Collateral Agent and Custodian, the Servicer shall immediately deliver all or any of such records and documents in its possession or custody to the Issuer, together with a list identifying each Tax Lien to which such records pertain. The Servicer, at its option, may microfilm, microfiche or otherwise condense any records or documents constituting a part of, or relating to, any Tax Lien or the Servicer’s Tax Lien File except for the Hazard Insurance Policy or any Flood Insurance Policy, provided that the Servicer will, upon written request by the Collateral Agent and Custodian, promptly reproduce in their entirety any or all such records or documents, the cost of such reproduction to be considered a Lien Administration Expense.

Maintenance, Custody and Ownership of Tax Lien Files and Records. On or prior to the applicable Closing Date, the Issuer shall deliver or cause to be delivered the original Tax Lien Certificate for each Tax Lien to the Indenture Trustee, in its capacity as Collateral Agent and Custodian under the Indenture, if Bonds have been issued, or under the Paying Agent and Custody Agreement, if Bonds have not been issued. On the applicable Closing Date, the Issuer shall deliver or cause to be delivered, a copy of the original Tax Lien Certificate for each Tax Lien to the Servicer, and the Servicer shall retain such copy as a part of the Servicer’s Tax Lien File for such Tax Lien. The Servicer shall also maintain, as a part of the Servicer’s Tax Lien File for each Tax Lien (i) copies of any instruments or documents that modify or supplement the terms or conditions of the applicable Tax Lien Certificate, and (ii) all other papers and documents generated by or coming into the possession of the Servicer (including but not limited to, tax receipts, insurance premium receipts, ledger sheets, payment records, insurance claim files and correspondence, foreclosure files and correspondence, current and historical computerized data files, whether developed or originated by the Servicer or others) that are required to document or service such Tax Lien. The Servicer’s Tax Lien Files shall remain a part of the Trust Estate at all times, subject however, to the right of the Servicer to retain copies of the Servicer’s Tax Lien Files for its own purposes, and all such records, documents and instruments in the possession and custody of the Servicer constituting a part of the Servicer's ’s Tax Lien File relating to such Tax Lien shall be held by the Servicer as the agent and bailee of the Collateral Agent and Custodian Indenture Trustee for purposes of perfecting the Collateral Agent and CustodianIndenture Trustee’s security interest in the Tax Liens, in the event it is determined that such perfection is achieved through possession by the secured party or its agent and bailee as may be contemplated by the Uniform Commercial Code or other applicable Law. On written request of the Indenture Trustee, the Servicer and/or the Collateral Agent and Custodian, the Servicer Custodian shall immediately deliver all or any of such records and documents in its possession or custody to the IssuerIndenture Trustee, together with a list identifying each Tax Lien to which such records pertain. The Servicer, at its option, may microfilm, microfiche or otherwise condense any records or documents constituting a part of, or relating to, any Tax Lien or the Servicer’s Tax Lien File except for the Hazard Insurance Policy or any Flood Insurance Policy, provided that the Servicer will, upon written request by the Collateral Agent and CustodianIndenture Trustee, promptly reproduce in their entirety any or all such records or documents, the cost of such reproduction to be considered a Lien Administration Expense.