Common use of Properties with respect to Which Foreclosure is Permitted and Has Begun Clause in Contracts

Properties with respect to Which Foreclosure is Permitted and Has Begun. The Servicer shall prepare and place in the Servicer’s Tax Lien File a Property Inspection Report as to any Property with respect to which foreclosure is permissible under applicable Law and with respect to which foreclosure proceedings have been commenced. Subject to the ability of the Servicer to gain access to or control of the Property, the Servicer shall also perform any and all other acts as may be consistent with accepted commercial practice for inspection and protection of properties secured by delinquent mortgage loans; provided, however, that, subject to Section 10.02(c) hereof, the Servicer may, but shall not be required to, insure any Property. The Servicer shall also complete and place in the Servicer’s Tax Lien File, at regular intervals, Property Inspection Reports on REO Property. All Property Inspection Reports shall be delivered to the Collateral Agent and Custodian or the Owner or PACE Program Administrator, as applicable, upon request.

Properties with respect to Which Foreclosure is Permitted and Has Begun. The Servicer shall prepare and place in the Servicer’s Tax Lien File a Property Inspection Report as to any Property with respect to which foreclosure is permissible under applicable Law and with respect to which foreclosure proceedings have been commenced. Subject to the ability of the Servicer to gain access to or control of the Property, the Servicer shall also perform any and all other acts as may be consistent with accepted commercial practice for inspection and protection of properties secured by delinquent mortgage loans; provided, however, that, subject to Section 10.02(c) hereof, the Servicer may, but shall not be required to, insure any Property. The Servicer shall also complete and place in the Servicer’s Tax Lien File, at regular intervals, Property Inspection Reports on REO Property. All Property Inspection Reports shall be delivered to the Collateral Agent and Custodian Indenture Trustee or the Owner or PACE Program AdministratorOwner, as applicable, upon request.