Common use of Modifications; Mortgages Recorded Clause in Contracts

Modifications; Mortgages Recorded. The terms of the Note and the Mortgage have not been impaired, altered or modified in any material respect, except by a written instrument which has been recorded, if required, or is in the process of being recorded (and, in either case, contained in the Collateral File), if necessary, to protect the interest of Purchaser and which has been or will be delivered to Purchaser. Each original Mortgage was recorded, and all subsequent assignments of the original Mortgage have been recorded in the appropriate jurisdictions wherein such recordation is necessary to perfect the lien thereof as against creditors of HUD (or, are in the process of being recorded, or are, in the opinion of counsel which has been provided to HUD and on which HUD is entitled expressly therein to rely, not required to be recorded).

Modifications; Mortgages Recorded. The terms of the Note and the Mortgage have not been impaired, altered or modified in any material respect, except by a written instrument which has been recorded, if required, or is in the process of being recorded (and, in either case, contained in the Collateral Asset File), if necessary, to protect the interest of Purchaser Buyer, and which has been or will be delivered to PurchaserBuyer or Custodian. Each original Mortgage was recorded, and all subsequent assignments of the original Mortgage have been recorded in the appropriate jurisdictions wherein such recordation is necessary to perfect the lien thereof as against creditors of HUD REO Entity (or, or are in the process of being recorded, or are, in the opinion of counsel which has been provided to HUD Seller or REO Entity and on which HUD Seller or REO Entity is entitled expressly therein to rely, not required to be recorded).