Release of Collateral Agent and Custodian’s Tax Lien File Upon Tax Lien Redemption or Other Liquidation. (i) Upon the redemption in full of any Tax Lien, the Servicer shall prepare and deliver to the Collateral Agent and Custodian an Officer’s Certificate directing the release of the Property from the lien of the Tax Lien. Upon receipt of the Officer’s Certificate, the Collateral Agent and Custodian shall prepare an instrument or instruments necessary to release the lien of the Tax Lien (all such instruments collectively, the “Instruments of Release”), and shall also deliver such Instruments of Release, in recordable form, to or for the benefit of the Property Owner, and deposit any remaining documents into the Servicer’s Tax Lien File. (ii) Upon the receipt of all condemnation proceeds awarded in an eminent domain proceeding relating to a Tax Lien, the Servicer may prepare and deliver to the Collateral Agent and Custodian an Officer’s Certificate directing the release of the Property from the lien of the Tax Lien. Upon receipt of the Officer’s Certificate, the Collateral Agent and Custodian shall prepare Instruments of Release and shall also deliver such Instruments of Release, in recordable form, as directed by the Servicer, and deposit any remaining documents into the Servicer’s Tax Lien File.
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Samples: Servicing Agreement, Servicing Agreement, Servicing Agreement