Common use of Record Title Clause in Contracts

Record Title. Record title to each Mortgage and the related Mortgage Note shall be transferred by the Seller to the Purchaser. The Seller shall, with respect to any Mortgage Loan not registered with the MERS System, at the option of the Purchaser, either (i) prepare and cause to be recorded the Assignment of Mortgage for each Mortgage Loan and shall, promptly upon its receipt of each original recorded Assignment of Mortgage from the applicable recording office, deliver the same to the Purchaser, or (ii) prepare and deliver to the Purchaser an original Assignment of Mortgage in blank, in each case, within the time and in the manner specified in Section 2.5. In addition, with respect to any Mortgage Loan not registered with the MERS System, the Seller shall, at the option of the Purchaser, prepare and deliver to the Purchaser an Assignment of Mortgage for each Mortgage Loan in the form of "COUNTRYWIDE HOME LOANS, INC. to blank ("_________")." With respect to any Mortgage Loan registered with the MERS System, the Seller shall, on or prior to the Closing Date, take all actions necessary to cause the MERS System to reflect the Purchaser as the owner of the Mortgage Loans and the Servicing Rights. The Seller shall bear the cost and expense related to (i) providing all Assignments of Mortgages and endorsements of Mortgage Notes for any transfer of record title required hereunder with respect to the obligations of the Mortgage Notes and the underlying security interest related to each Mortgage Loan, and (ii) recording title of the Mortgage Loans not registered with the MERS System including, but not limited to, recording fees and fees for title policy endorsements, and (iii) causing the MERS System to reflect the Purchaser as the owner of the Mortgage Loans.

Record Title. Record title to each Mortgage and the related Mortgage Note shall be transferred by the Seller to the Purchaser. The Seller shall, with respect to any Mortgage Loan not registered with the MERS System, at the option of the Purchaser, either (i) prepare and cause to be recorded the Assignment of Mortgage for each Mortgage Loan and shall, promptly upon its receipt of each original recorded Assignment of Mortgage from the applicable recording office, deliver the same to the Purchaser, or (ii) prepare and deliver to the Purchaser an original Assignment of Mortgage in blank, in each case, within the time and in the manner specified in Section 2.5. In addition, with respect to any Mortgage Loan not registered with the MERS System, the Seller shall, at the option of the Purchaser, prepare and deliver to the Purchaser an Assignment of Mortgage for each Mortgage Loan in the form of "“COUNTRYWIDE HOME LOANS, INC. to blank ("_________"“ ”)." With respect to any Mortgage Loan registered with the MERS System, the Seller shall, on or prior to the Closing Date, take all actions necessary to cause the MERS System to reflect the Purchaser as the owner of the Mortgage Loans and the Servicing Rights. ” The Seller shall bear the cost and expense related to (i) providing all Assignments of Mortgages and endorsements of Mortgage Notes for any transfer of record title required hereunder with respect to the obligations of the Mortgage Notes and the underlying security interest related to each Mortgage Loan, Loan and (ii) recording title of the Mortgage Loans not registered with the MERS System including, but not limited to, recording fees and fees for title policy endorsements. With respect to any Mortgage Loan registered with the MERS System, and (iii) causing the Seller shall, on the Closing Date, take all actions necessary to cause the MERS System to reflect the Purchaser as the beneficial owner of the Mortgage LoansLoans consistent with the terms of this Agreement.

Record Title. Record With respect to each Mortgage Loan, record title to each Mortgage and the related Mortgage Note shall be transferred by the Seller to the Purchaser. The Seller shall, with respect to any Mortgage Loan not registered with the MERS System, at the option of the Purchaser, either (i) prepare and cause to be recorded the Assignment of Mortgage for each Mortgage Loan and shall, promptly upon its receipt of each original recorded Assignment of Mortgage from the applicable recording office, deliver the same to the Purchaser, or (ii) prepare and deliver to the Purchaser an original Assignment of Mortgage either in blank, in each either case, within the time and in the manner specified in Section 2.5. In addition, or (iii) with respect to any Mortgage Loan not registered with on the MERS System, the Seller shall, at the option of the Purchaser, prepare and deliver to the Purchaser an Assignment of Mortgage for each Mortgage Loan in the form of "COUNTRYWIDE HOME LOANS, INC. to blank ("_________")." With respect to any Mortgage Loan registered with the MERS System, the Seller shall, on or prior to the Closing Date, take all actions necessary to cause the MERS System to reflect the Purchaser as the owner of the Mortgage Loans Loan and the Servicing RightsRights related thereto. The Seller shall bear the cost and expense related to (iA) providing all Assignments of Mortgages and endorsements of Mortgage Notes for any transfer of record title required hereunder with respect to the obligations of the Mortgage Notes and the underlying security interest related to each Mortgage Loan, and (iiB) recording title of the Mortgage Loans not registered with the MERS System including, but not limited to, recording fees and fees for title policy endorsements, and (iiiC) causing the MERS System to reflect the Purchaser as the owner of the Mortgage Loans.

Record Title. Record title to each Mortgage and (i) if in the name of a Private Investor or Trustee, shall remain in the name of such Private Investor or Trustee or in the name as such Person shall designate, to the extent not inconsistent with the terms of the related Servicing Agreements, or (ii) if in the name of Seller or any predecessor servicer of the Mortgage Note Loans as required under the related Servicing Agreements, record title of such Mortgage shall be transferred by the Seller (or predecessor servicer) to Purchaser or its designee to the Purchaserextent required by the terms of the related Servicing Agreements or Purchaser otherwise deems such transfer to be necessary or desirable. The Seller shall, with respect to any Mortgage Loan not registered In connection with the MERS Systemforegoing, at the option of the Purchaser, either (i) Purchaser shall prepare and cause to be recorded the any Mortgages, Assignment of Mortgages, or any interim Assignment of Mortgage for each Mortgage Loan and shall, promptly upon its receipt of each original recorded Assignment of Mortgage from the applicable recording office, deliver the same to the Purchaser, or extent necessary (i) to cure any defect in the chain of title and (ii) prepare and deliver to the Purchaser an original Assignment of Mortgage in blank, in each case, within the time and ensure that record title vests in the manner specified proper party as contemplated in this Section 2.5. In addition, with respect to any Mortgage Loan not registered with the MERS System, the Seller shall, at the option of the Purchaser, prepare and deliver to the Purchaser an Assignment of Mortgage for each Mortgage Loan in the form of "COUNTRYWIDE HOME LOANS, INC. to blank ("_________")." With respect to any Mortgage Loan registered with the MERS System, the Seller shall, on or prior to the Closing Date, take all actions necessary to cause the MERS System to reflect the Purchaser as the owner of the Mortgage Loans and the Servicing Rights2.11. The Seller Purchaser shall bear the cost costs and expense expenses related to (i) providing all Assignments of Mortgages procuring, preparing, completing and endorsements recording each Mortgage and Assignment of Mortgage Notes which is required or otherwise necessary for any transfer of record title required hereunder with respect to the obligations of the Mortgage Notes Loans and the underlying security interest related to each Mortgage Loan, and Loan as provided in the foregoing sentence; (ii) recording title of the ensuring that each Mortgage Loans not registered with the MERS System including, but not limited to, recording fees and fees for title policy endorsements, Note has been properly endorsed and (iii) causing the MERS System curing of any defects associated with any of these documents. Purchaser shall pay all costs associated with procuring, preparing completing and recording any Mortgages, Assignments of Mortgage (including interim mortgage assignments and assignments to reflect be recorded in the name of the owners or trustees of Mortgage Loans) and any powers of attorney necessary to accomplish the foregoing. However, Seller shall, at Purchaser's sole discretion and request prior to the Sale Date, execute separate powers of attorney in recordable form granting to Purchaser the right to act as Seller's agent-in-fact or appoint certain officers of Purchaser as officers of Seller for the owner sole purpose of taking the Mortgage Loans.actions described in this Section 2.11 on