Common use of Review of Contract Files Clause in Contracts

Review of Contract Files. Prior to the Closing Date, the Servicer's operations department will complete a review of all of the Contract Files (including the certificates of title to, or other evidence of a perfected security interest in, the related Manufactured Homes), confirming the accuracy of the Contract Schedule delivered to the Trustee. On or before the Closing Date, the Servicer shall deliver to the Trustee a Servicer Custodial Certification signed by one of its Officers confirming that it is in possession of the Contract File for each Contract identified on Schedule I to the Pooling and Servicing Agreement, subject to any exceptions noted in a schedule to such certificate. Such certification shall be substantially in the form of Exhibit 1 hereto. In giving its Servicer's Custodial Certification with respect to a Series, the Servicer shall be under no duty or obligation (A) to inspect, review or examine any such documents, instruments, securities or other papers to determine that they or the signatures thereon are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face or (B) to determine whether any Contract File should include any assumption agreement, modification agreement or waiver agreement. If the Servicer discovers any discrepancy between any Contract and the Contract Schedule, or that any required Contract Document is defective or missing from the related Contract File, in either case in a manner that is materially adverse to the interests of the Certificateholders, it shall immediately provide written notice to the Seller (unless the Seller is the Servicer) and the Trustee of such discrepancy, incompleteness or defect. If the Seller does not cure such discrepancy or such incomplete or defective Contract File within 90 days after discovery or its receipt of written notice of such discrepancy, incompleteness or defect, the Servicer shall take all steps within its power to enforce the Trustee's right to require the Seller to repurchase the affected Contract (or in the alternative to substitute for such Contract, if the substitution will take place within two years after the Closing Date) pursuant to the applicable Sales Agreement or, in the alternative (if the discrepancy consists of an overstatement in the Contract Schedule of the Cut-off Date Principal Balance of a Contract), to deposit cash into the related Certificate Account in the amount of such overstatement of the Cut-off Date Principal Balance of a Contract in the Contract Schedule (as described in the applicable Sales Agreement).

Review of Contract Files. Prior to the Closing Date, the Servicer's operations department will complete a review of all of the Contract Files (including the certificates of title to, or other evidence of a perfected security interest in, the related Manufactured Homes), confirming the accuracy of the Contract Schedule delivered to the Trustee. On or before the Closing Date, the Servicer shall deliver to the Trustee a Servicer Custodial Certification signed by one of its Officers confirming that it is in possession of the Contract File for each Contract identified on Schedule I to the Pooling and Servicing Agreement, subject to any exceptions noted in a schedule to such certificate. Such certification shall be substantially in the form of Exhibit 1 hereto. In giving its Servicer's Custodial Certification with respect to a Series, the Servicer shall be under no duty or obligation (A) to inspect, review or examine any such documents, instruments, securities or other papers to determine that they or the signatures thereon are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face or (B) to determine whether any Contract File should include any assumption agreement, modification agreement or waiver agreement. If the Servicer discovers any discrepancy between any Contract and the Contract Schedule, or that any required Contract Document is defective or missing from the related Contract File, in either case in a manner that is materially adverse to the interests of the Certificateholders, it shall immediately provide written notice to the Seller (unless the Seller is the Servicer) and the Trustee of such discrepancy, incompleteness or defect. If the Seller does not cure such discrepancy or such incomplete or defective Contract File within 90 days after discovery or its receipt of written notice of such discrepancy, incompleteness or defect, the Servicer shall take all steps within its power to enforce the Trustee's right to require the Seller to repurchase the affected Contract (or in the alternative to substitute for such Contract, if the substitution will take place within two years after the Closing Date) pursuant to the applicable Sales Agreement or, in the alternative (if the discrepancy consists of an overstatement in the Contract Schedule of the Cut-off Date Principal Balance of a Contract), to deposit cash into the related Certificate Account in the amount of such overstatement of the Cut-off Date Principal Balance of a Contract in the Contract Schedule (as described in the applicable Sales Agreement).

Review of Contract Files. Prior to the Closing Date, the Servicer's ------------------------ operations department will complete a review of all of the Contract Files (including the certificates of title to, or other evidence of a perfected security interest in, the related Manufactured Homes), confirming the accuracy of the Contract Schedule delivered to the Trustee. On or before the Closing Date, the Servicer shall deliver to the Trustee a Servicer Custodial Certification signed by one of its Officers confirming that it is in possession of the Contract File for each Contract identified on Schedule I to the Pooling and Servicing Agreement, subject to any exceptions noted in a schedule to such certificate. Such certification shall be substantially in the form of Exhibit 1 hereto. In giving its Servicer's Custodial Certification with respect to a Series, the Servicer shall be under no duty or obligation (A) to inspect, review or examine any such documents, instruments, securities or other papers to determine that they or the signatures thereon are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face or (B) to determine whether any Contract File should include any assumption agreement, modification agreement or waiver agreement. If the Servicer discovers any discrepancy between any Contract and the Contract Schedule, or that any required Contract Document is defective or missing from the related Contract File, in either case in a manner that is materially adverse to the interests of the Certificateholders, it shall immediately provide written notice to the Seller (unless the Seller is the Servicer) and the Trustee of such discrepancy, incompleteness or defect. If the Seller does not cure such discrepancy or such incomplete or defective Contract File within 90 days after discovery or its receipt of written notice of such discrepancy, incompleteness or defect, the Servicer shall take all steps within its power to enforce the Trustee's right to require the Seller to repurchase the affected Contract (or in the alternative to substitute for such Contract, if the substitution will take place within two years after the Closing Date) pursuant to the applicable Sales Agreement or, in the alternative (if the discrepancy consists of an overstatement in the Contract Schedule of the Cut-off Date Principal Balance of a Contract), to deposit cash into the related Certificate Account in the amount of such overstatement of the Cut-off Date Principal Balance of a Contract in the Contract Schedule (as described in the applicable Sales Agreement).