Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 49 contracts
Samples: Flow Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp2), Reconstituted Servicing Agreement (LXS 2007-3), Flow Interim Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar4)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing PracticesProcedures. At For claims greater than $15,000, at a minimum, the Seller shall shall, to the extent permitted by the terms of the related Mortgage Note and applicable law, comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 45 contracts
Samples: Flow Mortgage Loan Purchase and Sale Agreement, Flow Mortgage Loan Purchase and Sale Agreement (Sequoia Mortgage Trust 2013-8), Flow Mortgage Loan Purchase and Sale Agreement (Sequoia Mortgage Trust 2013-7)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing PracticesProcedures. At For claims greater than $15,000, at a minimum, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 11 contracts
Samples: Purchase and Sale Agreement (Sequoia Mortgage Trust 2013-6), Purchase and Sale Agreement (Sequoia Mortgage Trust 2013-4), Purchase and Sale Agreement (Sequoia Mortgage Trust 2013-1)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Acceptable Servicing Practices. At a minimumFor claims greater than $10,000, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 5 contracts
Samples: Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-1f), Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-2f), Assignment and Assumption Agreement (Banc of America Funding 2006-5 Trust)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing PracticesPractices and the terms of this Agreement. At a minimum, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 5 contracts
Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2006-Aa2), Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind2), Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practicesthe terms of the Mortgage Loan Documents. At a minimum, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 3 contracts
Samples: Commercial Servicing Agreement (Peoples Preferred Capital Corp), Residential Servicing Agreement (Peoples Preferred Capital Corp), Commercial Servicing Agreement (Peoples Preferred Capital Corp)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:: 13 Section 2.16
Appears in 1 contract
Samples: Flow Interim Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-34a)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser or its designee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor Borrower to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing PracticesProcedures. At a minimum, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 1 contract
Samples: Flow Mortgage Loan Interim Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-S1)
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing PracticesProcedures. At For claims greater than $XX,000, at a minimum, the Seller shall shall, to the extent permitted by the terms of the related Mortgage Note and applicable law, comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
Appears in 1 contract
Restoration of Mortgaged Property. The Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, the Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:Proceeds:.........................13
Appears in 1 contract
Samples: Flow Interim Servicing Agreement (Mortgage Pass-Through Certificates Series 2003-37a)
