Common use of Release of Trustee Mortgage Loan File for Other Purposes Clause in Contracts

Release of Trustee Mortgage Loan File for Other Purposes. From time to time as is appropriate for the servicing or foreclosure of a Mortgage Loan or the acquisition of Mortgaged Premises in lieu of foreclosure or for the making of any claim against or collection under any Mortgage Insurance Policy, Flood Insurance Policy, Hazard Insurance Policy, Mortgagor Bankruptcy Bond, the Special Hazard Insurance Policy, the Servicer Fidelity Bond, the Servicer Errors and Omissions Policy, or for purposes of effecting a partial release of any Mortgaged Premises from the lien of the Security Instrument or for making any corrections to the Note or the Security Instrument or other documents constituting the Trustee Mortgage Loan File, the Master Servicer shall deliver to the Trustee, with a copy to the Issuing Entity, (i) an officer’s certificate of the Servicer (RMIC Form 340) as required under Section 731 or Section 742 of the Sales/Servicing Agreement, and shall certify as to the reason for such release and that such release will not invalidate the insurance coverage provided in respect to the Mortgage Loan under any of the foregoing insurance policies, and (ii) an executed Trust Receipt (RMIC Form 347), executed by an officer of the Lender or by a Servicing Officer, designating whether the Trustee Mortgage File, or the part thereof requested, shall be released to the Master Servicer or the Servicer. Upon receipt of the foregoing, the Issuing Entity will cause the Trustee or its agent to deliver to the Master Servicer, or the Servicer if the Master Servicer so requests, the Trustee Mortgage Loan File or documents so requested. Subject to the further limitations in this Section 3.04(b) below, the Master Servicer shall cause the Trustee Mortgage Loan File or documents so released to be returned to the Trustee or its agent when the need therefor by the Master Servicer or Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in a Custodial P & I Account, in which case the Issuing Entity shall cause the Trustee to deliver the Trust Receipt to the Master Servicer. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Premises as authorized by its Sales/Servicing Agreement, the Master Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, request for trustee’s sale or other documents necessary to such foreclosure or to any legal action brought to obtain judgment against the Borrower on the Note or the Security Instrument or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Note or the Security Instrument or otherwise available at law or in equity. Together with such documents or pleadings, the Master Servicer shall deliver to the Trustee an officer’s certificate of the Servicer as required under Section 731 or Section 742 of the Sales/Servicing Agreement requesting that such pleadings or documents be executed by the Trustee and a Servicing Officer shall certify as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate the insurance coverage under the Special Hazard Insurance Policy, Flood Insurance Policy (if any), or Mortgagor Bankruptcy Bond or invalidate or otherwise affect the lien of the Security Instrument except for the termination of such lien upon completion of the foreclosure. Notwithstanding the foregoing, the Master Servicer shall cause possession of any Trustee Mortgage Loan File or documents therein which have been released by the Trustee to be retained at all times by the Master Servicer or the Servicer, if appropriate, unless (i) the Mortgage Loan has been liquidated and the Insurance Proceeds or Liquidation Proceeds relating to the Mortgage Loan have been deposited in a Custodial P & I Account or (ii) the Trustee Mortgage Loan File or documents have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgage Premises and the Master Servicer has delivered to the Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which the Trustee Mortgage Loan File or documents were delivered and the purpose or purposes of such delivery.

Release of Trustee Mortgage Loan File for Other Purposes. From time to -------------------------------------------------------- time as is appropriate for the servicing or foreclosure of a Mortgage Loan or the acquisition of Mortgaged Premises in lieu of foreclosure or for the making of any claim against or collection under any Mortgage Insurance Policy, Flood Insurance Policy, Hazard Insurance Policy, Mortgagor Bankruptcy Bond, the Special Hazard Insurance Policy, the Servicer Fidelity Bond, the Servicer Errors and Omissions Policy, or for purposes of effecting a partial release of any Mortgaged Premises from the lien of the Security Instrument or for making any corrections to the Note or the Security Instrument or other documents constituting the Trustee Mortgage Loan File, the Master Servicer shall deliver to the Trustee, with a copy to the Issuing EntityIssuer, (i) an officer’s 's certificate of the Servicer (RMIC Form 340) as required under Section 731 or Section 742 of the Sales/Servicing AgreementServicer, and shall certify as to the reason for such release and that such release will not invalidate the insurance coverage provided in respect to the Mortgage Loan under any of the foregoing insurance policies, and (ii) an executed Trust Receipt (RMIC Form 347)Receipt, executed by an officer of the Lender or by a Servicing Officer, designating whether the Trustee Mortgage File, or the part thereof requested, shall be released to the Master Servicer or the Servicer. Upon receipt of the foregoing, the Issuing Entity Issuer will cause the Trustee or its agent to deliver to the Master Servicer, or the Servicer if the Master Servicer so requests, the Trustee Mortgage Loan File or documents so requested. Subject to the further limitations in this Section 3.04(b) below, the Master Servicer shall cause the Trustee Mortgage Loan File or documents so released to be returned to the Trustee or its agent when the need therefor by the Master Servicer or Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in a Custodial P & I Account, in which case the Issuing Entity Issuer shall cause the Trustee to deliver the Trust Receipt to the Master Servicer. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Premises as authorized by its Sales/Servicing Agreement, the Master Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, request for trustee’s 's sale or other documents necessary to such foreclosure or to any legal action brought to obtain judgment against the Borrower on the Note or the Security Instrument or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Note or the Security Instrument or otherwise available at law or in equity. Together with such documents or pleadings, the Master Servicer shall deliver to the Trustee an officer’s 's certificate of the Servicer as required under Section 731 or Section 742 of the Sales/Servicing Agreement requesting that such pleadings or documents be executed by the Trustee and a Servicing Officer shall certify as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate the insurance coverage under the Special Hazard Insurance Policy, Flood Insurance Policy (if any), or Mortgagor Bankruptcy Bond or invalidate or otherwise affect the lien of the Security Instrument except for the termination of such lien upon completion of the foreclosure. Notwithstanding the foregoing, the Master Servicer shall cause possession of any Trustee Mortgage Loan File or documents therein which have been released by the Trustee to be retained at all times by the Master Servicer or the Servicer, if appropriate, unless (i) the Mortgage Loan has been liquidated and the Insurance Proceeds or Liquidation Proceeds relating to the Mortgage Loan have been deposited in a Custodial P & I Account or (ii) the Trustee Mortgage Loan File or documents have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgage Premises and the Master Servicer has delivered to the Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which the Trustee Mortgage Loan File or documents were delivered and the purpose or purposes of such delivery.

Release of Trustee Mortgage Loan File for Other Purposes. From time to -------------------------------------------------------- time as is appropriate for the servicing or foreclosure of a Mortgage Loan or the acquisition of Mortgaged Premises in lieu of foreclosure or for the making of any claim against or collection under any Mortgage Insurance Policy, Flood Insurance Policy, Hazard Insurance Policy, Mortgagor Bankruptcy Bond, the Special Hazard Insurance Policy, the Servicer Fidelity Bond, the Servicer Errors and Omissions Policy, or for purposes of effecting a partial release of any Mortgaged Premises from the lien of the Security Instrument or for making any corrections to the Note or the Security Instrument or other documents constituting the Trustee Mortgage Loan File, the Master Servicer shall deliver to the Trustee, with a copy to the Issuing EntityIssuer, (i) an officer’s 's certificate of the Servicer (RMIC Form 340) as required under Section 731 or Section 742 of the Sales/Servicing Agreement, and shall certify as to the reason for such release and that such release will not invalidate the insurance coverage provided in respect to the Mortgage Loan under any of the foregoing insurance policies, and (ii) an executed Trust Receipt (RMIC Form 347), executed by an officer of the Lender or by a Servicing Officer, designating whether the Trustee Mortgage File, or the part thereof requested, shall be released to the Master Servicer or the Servicer. Upon receipt of the foregoing, the Issuing Entity Issuer will cause the Trustee or its agent to deliver to the Master Servicer, or the Servicer if the Master Servicer so requests, the Trustee Mortgage Loan File or documents so requested. Subject to the further limitations in this Section 3.04(b) below, the Master Servicer shall cause the Trustee Mortgage Loan File or documents so released to be returned to the Trustee or its agent when the need therefor by the Master Servicer or Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in a Custodial P & I Account, in which case the Issuing Entity Issuer shall cause the Trustee to deliver the Trust Receipt to the Master Servicer. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Premises as authorized by its Sales/Servicing Agreement, the Master Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, request for trustee’s 's sale or other documents necessary to such foreclosure or to any legal action brought to obtain judgment against the Borrower on the Note or the Security Instrument or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Note or the Security Instrument or otherwise available at law or in equity. Together with such documents or pleadings, the Master Servicer shall deliver to the Trustee an officer’s 's certificate of the Servicer as required under Section 731 or Section 742 of the Sales/Servicing Agreement requesting that such pleadings or documents be executed by the Trustee and a Servicing Officer shall certify as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate the insurance coverage under the Special Hazard Insurance Policy, Flood Insurance Policy (if any), or Mortgagor Bankruptcy Bond or invalidate or otherwise affect the lien of the Security Instrument except for the termination of such lien upon completion of the foreclosure. Notwithstanding the foregoing, the Master Servicer shall cause possession of any Trustee Mortgage Loan File or documents therein which have been released by the Trustee to be retained at all times by the Master Servicer or the Servicer, if appropriate, unless (i) the Mortgage Loan has been liquidated and the Insurance Proceeds or Liquidation Proceeds relating to the Mortgage Loan have been deposited in a Custodial P & I Account or (ii) the Trustee Mortgage Loan File or documents have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgage Premises and the Master Servicer has delivered to the Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which the Trustee Mortgage Loan File or documents were delivered and the purpose or purposes of such delivery.

Release of Trustee Mortgage Loan File for Other Purposes. From -------------------------------------------------------- time to time as is appropriate for the servicing or foreclosure of a Mortgage Loan or the acquisition of Mortgaged Premises in lieu of foreclosure or for the making of any claim against or collection under any Mortgage Insurance Policy, Flood Insurance Policy, Hazard Insurance Policy, Mortgagor Bankruptcy Bond, the Special Hazard Insurance Policy, the Servicer Fidelity Bond, the Servicer Errors and Omissions Policy, or for purposes of effecting a partial release of any Mortgaged Premises from the lien of the Security Instrument or for making any corrections to the Note or the Security Instrument or other documents constituting the Trustee Mortgage Loan File, the Master Servicer shall deliver to the Trustee, with a copy to the Issuing EntityIssuer, (i) an officer’s 's certificate of the Servicer (RMIC Form 340) as required under Section 731 or Section 742 of the Sales/Servicing Agreement, and shall certify as to the reason for such release and that such release will not invalidate the insurance coverage provided in respect to the Mortgage Loan under any of the foregoing insurance policies, and (ii) an executed Trust Receipt (RMIC Form 347), executed by an officer of the Lender or by a Servicing Officer, designating whether the Trustee Mortgage File, or the part thereof requested, shall be released to the Master Servicer or the Servicer. Upon receipt of the foregoing, the Issuing Entity Issuer will cause the Trustee or its agent to deliver to the Master Servicer, or the Servicer if the Master Servicer so requests, the Trustee Mortgage Loan File or documents so requested. Subject to the further limitations in this Section 3.04(b) below, the Master Servicer shall cause the Trustee Mortgage Loan File or documents so released to be returned to the Trustee or its agent when the need therefor by the Master Servicer or Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in a Custodial P & I Account, in which case the Issuing Entity Issuer shall cause the Trustee to deliver the Trust Receipt to the Master Servicer. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Premises as authorized by its Sales/Servicing Agreement, the Master Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, request for trustee’s 's sale or other documents necessary to such foreclosure or to any legal action brought to obtain judgment against the Borrower on the Note or the Security Instrument or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Note or the Security Instrument or otherwise available at law or in equity. Together with such documents or pleadings, the Master Servicer shall deliver to the Trustee an officer’s 's certificate of the Servicer as required under Section 731 or Section 742 of the Sales/Servicing Agreement requesting that such pleadings or documents be executed by the Trustee and a Servicing Officer shall certify as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate the insurance coverage under the Special Hazard Insurance Policy, Flood Insurance Policy (if any), or Mortgagor Bankruptcy Bond or invalidate or otherwise affect the lien of the Security Instrument except for the termination of such lien upon completion of the foreclosure. Notwithstanding the foregoing, the Master Servicer shall cause possession of any Trustee Mortgage Loan File or documents therein which have been released by the Trustee to be retained at all times by the Master Servicer or the Servicer, if appropriate, unless (i) the Mortgage Loan has been liquidated and the Insurance Proceeds or Liquidation Proceeds relating to the Mortgage Loan have been deposited in a Custodial P & I Account or (ii) the Trustee Mortgage Loan File or documents have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgage Premises and the Master Servicer has delivered to the Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which the Trustee Mortgage Loan File or documents were delivered and the purpose or purposes of such delivery.