Common use of Securities Administrator Not Liable for Certificates or Mortgage Loans Clause in Contracts

Securities Administrator Not Liable for Certificates or Mortgage Loans. The recitals contained herein and in the Certificates shall be taken as the statements of the Depositor or the Transferor, as the case may be, and the Securities Administrator assumes no responsibility for their correctness. The Securities Administrator makes no representations as to the validity or sufficiency of this Agreement or of the Certificates or of any Mortgage Loan or related document other than with respect to the Securities Administrator's execution and authentication of the Certificates. The Securities Administrator shall not be accountable for the use or application by the Depositor of any funds paid to the Depositor in respect of the Mortgage Loans or deposited in or withdrawn from the Collection Account by the Depositor. The Securities Administrator shall execute the Certificates not in its individual capacity but solely on behalf of the Trustee of the Trust Fund created by this Agreement, in exercise of the powers and authority conferred or vested in the Securities Administrator by this Agreement.

Securities Administrator Not Liable for Certificates or Mortgage Loans. The recitals contained herein and in the Certificates shall be taken as the statements of the Depositor or the Transferor, as the case may be, and the Securities Administrator assumes no responsibility for their correctness. The Securities Administrator makes no representations as to the validity or sufficiency of this Agreement, the Interest Rate Corridor Agreement or of the Certificates or of any Mortgage Loan or related document other than with respect to the Securities Administrator's execution and authentication of the Certificates. The Securities Administrator shall not be accountable for the use or application by the Depositor of any funds paid to the Depositor in respect of the Mortgage Loans or deposited in or withdrawn from the Collection Account by the Depositor. The Securities Administrator shall execute the Certificates not in its individual capacity but solely on behalf of the Trustee of the Trust Fund created by this Agreement, in exercise of the powers and authority conferred or vested in the Securities Administrator by this Agreement.