Common use of Obligations of the Custodian Clause in Contracts

Obligations of the Custodian. With respect to the Mortgage Note, the Mortgage and the Assignment of Mortgage and other documents constituting each Custodial File which is delivered to the Custodian or which come into the possession of the Custodian, the Custodian is the custodian for the Owner exclusively. The Custodian shall hold all mortgage documents received by it constituting the Custodial File for the exclusive use and benefit of the Owner or its designee, and shall make disposition thereof only in accordance with the Agreement and the instructions furnished by the Owner or its designee. The Custodian shall segregate and maintain continuous custody of all mortgage documents constituting the Custodial File in secure and fireproof facilities in accordance with customary standards for such custody.

Obligations of the Custodian. With respect to the Mortgage Note, the Mortgage and the Assignment of Mortgage and other documents constituting each Custodial File which is delivered to the Custodian or which come into the possession of the Custodian, the Custodian is the custodian for the Owner Purchaser exclusively. The Custodian shall hold all mortgage documents received by it constituting the Custodial File for the exclusive use and benefit of the Owner or its designeePurchaser, and shall make disposition thereof only in accordance with the this Custodial Agreement and the instructions furnished by the Owner or its designeePurchaser. The Custodian shall segregate and maintain continuous custody of all mortgage documents constituting the Custodial File in secure and fireproof fire resistant facilities in accordance with customary standards for such custody.

Obligations of the Custodian. With respect to the Mortgage Note, the Mortgage and the Assignment of Mortgage and other documents constituting each Custodial File which is delivered to the Custodian or which come into the possession of the Custodian, the Custodian is the custodian for and the Owner bailee of the Purchaser exclusively. The Custodian shall hold all mortgage documents received by it constituting the Custodial File for the exclusive use and benefit of the Owner or its designeePurchaser, and shall make disposition thereof only in accordance with the Agreement and the instructions furnished by the Owner or its designeePurchaser in writing. The Custodian shall segregate and maintain continuous custody of all mortgage documents constituting the Custodial File in secure and fireproof facilities in accordance with customary standards for such custody.

Obligations of the Custodian. With respect to the Mortgage Note, the Mortgage and the Assignment of Mortgage and other documents constituting each Custodial File which is delivered to the Custodian or which come into the possession of the Custodian, the Custodian is the custodian Custodian for the Owner Purchaser exclusively. The Custodian shall hold all mortgage documents received by it constituting the Custodial File for the exclusive use and benefit of the Owner or its designeePurchaser, and shall make disposition thereof only in accordance with the Agreement and the instructions furnished by the Owner or its designeePurchaser. The Custodian shall segregate and maintain continuous custody of all mortgage documents constituting the each Custodial File in secure and fireproof facilities in accordance with customary standards for such custody.