Common use of Recordation of Assignments of Security Instrument Clause in Contracts

Recordation of Assignments of Security Instrument. Subject to the sale of the Mortgage Loans by each Seller to SAXON, SAXON hereby authorizes and instructs each Seller and each Seller hereby agrees, with respect to each Mortgage Loan (other than a MERS Mortgage Loan) transferred by such Seller to SAXON, to record all Assignments required to be contained in the Mortgage File pursuant to Section 2.1 of the Pooling and Servicing Agreement in the public recording office for the jurisdiction in which the related Mortgaged Property is located if not previously recorded, as evidenced in the manner provided in Section (30) of Exhibit B hereto. All recording fees relating to the recordation of the Assignments as described above shall be paid by SFM. If the Trustee does not receive, within the time specified in the Pooling and Servicing Agreement, evidence satisfactory to it of such recording with respect to any Mortgage Loan or, in the alternative, an Opinion of Counsel acceptable to SAXON and the Rating Agencies, to the effect that such recording is not required to protect the right, title and interest of the Trustee in any such Mortgage Loan, SFM shall, in cooperation with the Trustee, correct or cure any such omission or repurchase the affected Mortgage Loan within 90 days of such demand which demand is made within the time specified in the Pooling and Servicing Agreement (including any such extensions provided for therein).

Recordation of Assignments of Security Instrument. Subject to the sale of the Mortgage Loans by each Seller Aegis Mortgage to SAXONAegis, SAXON Aegis hereby authorizes and instructs each Seller Aegis Mortgage, and each Seller Aegis Mortgage hereby agrees, with respect to each Mortgage Loan (other than a MERS Mortgage Loan) transferred by such Seller to SAXON, to record all Assignments required to be contained in the Mortgage File pursuant to Section 2.1 of the Pooling and Servicing Agreement in the public recording office for the jurisdiction in which the related Mortgaged Property is located if not previously recorded, as evidenced in the manner provided in Section (30) of Exhibit B hereto. All recording fees relating to the recordation of the Assignments as described above shall be paid by SFMAegis Mortgage. If the Trustee does not receive, within the time specified in the Pooling and Servicing Agreement, evidence satisfactory to it of such recording with respect to any Mortgage Loan or, in the alternative, an Opinion of Counsel acceptable to SAXON Aegis and the Rating Agencies, to the effect that such recording is not required to protect the right, title and interest of the Trustee in any such Mortgage Loan, SFM Aegis Mortgage shall, in cooperation with the Trustee, correct or cure any such omission or repurchase the affected Mortgage Loan within 90 days of such demand which demand is made within the time specified in the Pooling and Servicing Agreement (including any such extensions provided for therein).

Recordation of Assignments of Security Instrument. Subject to the sale of the Mortgage Loans by each Seller SFM to SAXON, SAXON hereby authorizes and instructs each Seller SFM and each Seller SFM hereby agrees, with respect to each Mortgage Loan (other than a MERS Mortgage Loan) transferred by such Seller SFM to SAXON, to record all Assignments required to be contained in the Mortgage File pursuant to Section 2.1 of the Pooling and Servicing Agreement in the public recording office for the jurisdiction in which the related Mortgaged Property is located if not previously recorded, as evidenced in the manner provided in Section (30) of Exhibit B hereto. All recording fees relating to the recordation of the Assignments as described above shall be paid by SFM. If the Trustee does not receive, within the time specified in the Pooling and Servicing Agreement, evidence satisfactory to it of such recording with respect to any Mortgage Loan or, in the alternative, an Opinion of Counsel acceptable to SAXON and the Rating Agencies, to the effect that such recording is not required to protect the right, title and interest of the Trustee in any such Mortgage Loan, SFM shall, in cooperation with the Trustee, correct or cure any such omission or repurchase the affected Mortgage Loan within 90 days of such demand which demand is made within the time specified in the Pooling and Servicing Agreement (including any such extensions provided for therein).

Recordation of Assignments of Security Instrument. Subject to the sale of the Subsequent Mortgage Loans by each Seller SMF to SAXON, SAXON hereby authorizes and instructs each Seller SMF and each Seller SMF hereby agrees, with respect to each Subsequent Mortgage Loan (other than a MERS Mortgage Loan) transferred by such Seller SMF to SAXON, to record all Assignments required to be contained in the Mortgage File pursuant to Section 2.1 of the Pooling and Servicing Agreement in the public recording office for the jurisdiction in which the related Mortgaged Property is located if not previously recorded, as evidenced in the manner provided in Section (30) of Exhibit B hereto. All recording fees relating to the recordation of the Assignments as described above shall be paid by SFMSMF. If the Trustee does not receive, within the time specified in the Pooling and Servicing Agreement, evidence satisfactory to it of such recording with respect to any Subsequent Mortgage Loan or, in the alternative, an Opinion of Counsel acceptable to SAXON and the Rating Agencies, to the effect that such recording is not required to protect the right, title and interest of the Trustee in any such Subsequent Mortgage Loan, SFM the Diligence Agent shall, in cooperation with the Trustee, correct or cure any such omission or repurchase the affected Subsequent Mortgage Loan within 90 days of such demand which demand is made within the time specified in the Pooling and Servicing Agreement (including any such extensions provided for therein).