Common use of The Contracts Clause in Contracts

The Contracts. (a) Servicer's Custody of Contract Files and Servicer Contract Files. The parties to the Pooling and Servicing Agreement, by their execution thereof, acknowledge the Servicer's appointment to serve as custodian of the Contract Files and the Servicer Contract Files as described herein for the benefit of the Certificateholders and the Trustee. The Servicer, by its execution of the Pooling and Servicing Agreement, agrees to, and shall, retain possession of the Contract File and the Servicer Contract File pertaining to each of the Contracts on behalf of the Certificateholders and the Trustee. The Servicer (or a custodian appointed by the Servicer) shall hold each Contract and any other documents constituting each Contract File and each Servicer Contract File that are in the possession of the Servicer or that at any time come into the possession of the Servicer in trust as custodian for the Holders of the Certificates, and the Servicer hereby acknowledges and declares that it holds and will hold or has agreed to hold such documents as custodian and as the bailee for, and for the exclusive use and benefit of, the Holders of the Certificates in accordance with the terms of the Pooling and Servicing Agreement, and shall make disposition thereof only in accordance with the Pooling and Servicing Agreement. The Servicer shall segregate and maintain continuous custody of all documents constituting the Contract Files in its possession in secure and fireproof-rated locked files or vaults in accordance with customary standards for such custody. From time to time, the Company or the Seller shall deliver to the Servicer for inclusion in the appropriate Contract File, the original Contract Documents for any Contract to the extent that copies of such original documents were initially included in such Contract File or in the event that only a copy of an application for an original Contract Document was initially included among the related Contract Documents. In addition, the Servicer shall add to the appropriate Contract File any additional original documents received by the Servicer that evidence a modification of the related Contract approved by the Company. The Servicer shall maintain custody of the Contract Files and Servicer Contract Files for each Series in its possession at its offices where the Contract Files and Servicer Contract Files are presently maintained or at such other offices of the Servicer in the State of Florida as the Servicer may identify to the Trustee by written notice provided at least ten days prior to the Servicer's change of the location of its custody of the Contract Files and Servicer Contract Files. The Servicer may not move the location of its custody of the Contract Files and Servicer Contract Files for any Series outside of the State of Florida without first giving 30 days' prior written notice of such relocation to each applicable Rating Agency and the Trustee and obtaining each such Rating Agency's written confirmation that such relocation will not result in any downgrading of any Certificates of such Series. Notwithstanding the foregoing, the Servicer may temporarily move individual Contract Files or any portions thereof without notice to the Trustee or any Rating Agency as may be necessary for it to conduct collection and other servicing activities in accordance with its customary practices and procedures. In acting as custodian of the Contract Files, the Servicer agrees not to assert any ownership interests in the Contracts or the Contract Files, and to indicate to any third parties, promptly upon their inquiry to the Servicer, that the Contracts and the Contract Files have been sold and assigned to the appropriate Trust.

The Contracts. (a) Servicer's Custody of Contract Files and Servicer Contract Files. The parties to the Pooling and Servicing Agreement, by their execution thereof, acknowledge the Servicer's appointment to serve as custodian of the Contract Files and the Servicer Contract Files as described herein for the benefit of the Certificateholders and the Trustee. The Servicer, by its execution of the Pooling and Servicing Agreement, agrees to, and shall, retain possession of the Contract File and the Servicer Contract File pertaining to each of the Contracts on behalf of the Certificateholders and the Trustee. Without limiting the foregoing, the Trustee acknowledges that, with respect to each Contract secured by a Manufactured Home located in Virginia as to which the Trustee is identified as first lienor on the related certificate of title, for purposes of Section 46.2-641 of the Virginia Code (as currently in effect), the Servicer is holding such Contract and the related certificate of title as bailee and agent for the Trustee as such first lienor. The Servicer (or a custodian appointed by the Servicer) shall hold each Contract and any other documents constituting each Contract File and each Servicer Contract File that are in the possession of the Servicer or that at any time come into the possession of the Servicer in trust as custodian for the Holders of the Certificates, and the Servicer hereby acknowledges and declares that it holds and will hold or has agreed to hold such documents as custodian and as the bailee for, and for the exclusive use and benefit of, the Holders of the Certificates in accordance with the terms of the Pooling and Servicing Agreement, and shall make disposition thereof only in accordance with the Pooling and Servicing Agreement. The Servicer shall segregate and maintain continuous custody of all documents constituting the Contract Files in its possession in secure and fireproof-rated locked files or vaults in accordance with customary standards for such custody. From time to time, the Company OMI or the Seller shall deliver to the Servicer for inclusion in the appropriate Contract File, the original Contract Documents for any Contract to the extent that copies of such original documents were initially included in such Contract File or in the event that only a copy of an application for an original Contract Document was initially included among the related Contract Documents. In addition, the Servicer shall add to the appropriate Contract File any additional original documents received by the Servicer that evidence a modification of the related Contract approved by the CompanyOMI. The Servicer shall maintain custody of the Contract Files and Servicer Contract Files for each Series in its possession at its offices where the Contract Files and Servicer Contract Files are presently maintained or at such other offices of the Servicer in the State of Florida North Carolina as the Servicer may identify to the Trustee by written notice provided at least ten days prior to the Servicer's change of the location of its custody of the Contract Files and Servicer Contract Files. The Servicer may not move the location of its custody of the Contract Files and Servicer Contract Files for any Series outside of the State of Florida North Carolina without first giving 30 days' prior written notice of such relocation to each applicable Rating Agency and the Trustee and obtaining each such Rating Agency's written confirmation that such relocation will not result in any downgrading of any Certificates of such Series. Notwithstanding the foregoing, the Servicer may temporarily move individual Contract Files or any portions thereof without notice to the Trustee or any Rating Agency as may be necessary for it to conduct collection and other servicing activities in accordance with its customary practices and procedures. In acting as custodian of the Contract Files, the Servicer agrees not to assert any ownership interests in the Contracts or the Contract Files, and to indicate to any third parties, promptly upon their inquiry to the Servicer, that the Contracts and the Contract Files have been sold and assigned to the appropriate Trust.

The Contracts. (a) Servicer's Custody of Contract Files and Servicer Contract Files. The parties to the Pooling and Servicing Agreement, by their execution thereof, acknowledge the Servicer's appointment to serve as custodian of the Contract Files and the Servicer Contract Files as described herein for the benefit of the Certificateholders and the Trustee. The Servicer, by its execution of the Pooling and Servicing Agreement, agrees to, and shall, retain possession of the Contract File and the Servicer Contract File pertaining to each of the Contracts on behalf of the Certificateholders and the Trustee. The Servicer (or a custodian appointed by the Servicer) shall hold each Contract and any other documents constituting each Contract File and each Servicer Contract File that are in the possession of the Servicer or that at any time come into the possession of the Servicer in trust as custodian for the Holders of the Certificates, and the Servicer hereby acknowledges and declares that it holds and will hold or has agreed to hold such documents as custodian and as the bailee for, and for the exclusive use and benefit of, the Holders of the Certificates in accordance with the terms of the Pooling and Servicing Agreement, and shall make disposition thereof only in accordance with the Pooling and Servicing Agreement. The Servicer shall segregate and maintain continuous custody of all documents constituting the Contract Files in its possession in secure and fireproof-rated locked files or vaults in accordance with customary standards for such custody. From time to time, the Company or the Seller shall deliver to the Servicer for inclusion in the appropriate Contract File, the original Contract Documents for any Contract to the extent that copies of such original documents were initially included in such Contract File or in the event that only a copy of an application for an original Contract Document was initially included among the related Contract Documents. In addition, the Servicer shall add to the appropriate Contract File any additional original documents received by the Servicer that evidence a modification of the related Contract approved by the Company. The Servicer shall maintain custody of the Contract Files and Servicer Contract Files for each Series in its possession at its offices where the Contract Files and Servicer Contract Files are presently maintained or at such other offices of the Servicer in the State of Florida as the Servicer may identify to the Trustee by written notice provided at least ten days prior to the Servicer's change of the location of its custody of the Contract Files and Servicer Contract Files. The Servicer may not move the location of its custody of the Contract Files and Servicer Contract Files for any Series outside of the State of Florida without first giving 30 days' prior written notice of such relocation to each applicable Rating Agency and the Trustee and obtaining each such Rating Agency's written confirmation that such relocation will not result in any downgrading of any Certificates of such Series. Notwithstanding the foregoing, the Servicer may temporarily move individual Contract Files or any portions thereof without notice to the Trustee or any Rating Agency as may be necessary for it to conduct collection and other servicing activities in accordance with its customary practices and procedures. In acting as custodian of the Contract Files, the Servicer agrees not to assert any ownership interests in the Contracts or the Contract Files, and to indicate to any third parties, promptly upon their inquiry to the Servicer, that the Contracts and the Contract Files have been sold and assigned to the appropriate Trust.relocation

The Contracts. (a) Servicer's Custody of Contract Files and Servicer Contract Files. The parties to the Pooling and Servicing Agreement, by their execution thereof, acknowledge the Servicer's appointment to serve as custodian of the Contract Files and the Servicer Contract Files as described herein for the benefit of the Certificateholders and the Trustee. The Servicer, by its execution of the Pooling and Servicing Agreement, agrees to, and shall, retain possession of the Contract File and the Servicer Contract File pertaining to each of the Contracts on behalf of the Certificateholders and the Trustee. [Without limiting the foregoing, the Trustee acknowledges that, with respect to each Contract secured by a Manufactured Home located in Virginia as to which the Trustee is identified as first lienor on the related certificate of title, for purposes of Section 46.2-641 of the Virginia Code (as currently in effect), the Servicer is holding such Contract and the related certificate of title as bailee and agent for the Trustee as such first lienor.] The Servicer (or a custodian appointed by the Servicer) shall hold each Contract and any other documents constituting each Contract File and each Servicer Contract File that are in the possession of the Servicer or that at any time come into the possession of the Servicer in trust as custodian for the Holders of the Certificates, and the Servicer hereby acknowledges and declares that it holds and will hold or has agreed to hold such documents as custodian and as the bailee for, and for the exclusive use and benefit of, the Holders of the Certificates in accordance with the terms of the Pooling and Servicing Agreement, and shall make disposition thereof only in accordance with the Pooling and Servicing Agreement. The Servicer shall segregate and maintain continuous custody of all documents constituting the Contract Files in its possession in secure and fireproof-rated locked files or vaults in accordance with customary standards for such custody. From time to time, the Company or the Seller shall deliver to the Servicer for inclusion in the appropriate Contract File, the original Contract Documents for any Contract to the extent that copies of such original documents were initially included in such Contract File or in the event that only a copy of an application for an original Contract Document was initially included among the related Contract Documents. In addition, the Servicer shall add to the appropriate Contract File any additional original documents received by the Servicer that evidence a modification of the related Contract approved by the Company. The Servicer shall maintain custody of the Contract Files and Servicer Contract Files for each Series in its possession at its offices where the Contract Files and Servicer Contract Files are presently maintained or at such other offices of the Servicer in the State of Florida North Carolina as the Servicer may identify to the Trustee by written notice provided at least ten days prior to the Servicer's change of the location of its custody of the Contract Files and Servicer Contract Files. The Servicer may not move the location of its custody of the Contract Files and Servicer Contract Files for any Series outside of the State of Florida North Carolina without first giving 30 days' prior written notice of such relocation to each applicable Rating Agency and the Trustee and obtaining each such Rating Agency's written confirmation that such relocation will not result in any downgrading of any Certificates of such Series. Notwithstanding the foregoing, the Servicer may temporarily move individual Contract Files or any portions thereof without notice to the Trustee or any Rating Agency as may be necessary for it to conduct collection and other servicing activities in accordance with its customary practices and procedures. In acting as custodian of the Contract Files, the Servicer agrees not to assert any ownership interests in the Contracts or the Contract Files, and to indicate to any third parties, promptly upon their inquiry to the Servicer, that the Contracts and the Contract Files have been sold and assigned to the appropriate Trust.

The Contracts. (a) Servicer's Custody of Contract Files and Servicer Contract Files. The parties to the Pooling and Servicing Agreement, by their execution thereof, acknowledge the Servicer's appointment to serve as custodian of the Contract Files and the Servicer Contract Files as described herein for the benefit of the Certificateholders and the Trustee. The Servicer, by its execution of the Pooling and Servicing Agreement, agrees to, and shall, retain possession of the Contract File and the Servicer Contract File pertaining to each of the Contracts on behalf of the Certificateholders and the Trustee. Without limiting the foregoing, the Trustee acknowledges that, with respect to each Contract secured by a Manufactured Home located in Virginia as to which the Trustee is identified as first lienor on the related certificate of title, for purposes of Section 46.2-641 of the Virginia Code (as currently in effect), the Servicer is holding such Contract and the related certificate of title as bailee and agent for the Trustee as such first lienor. The Servicer (or a custodian appointed by the Servicer) shall hold each Contract and any other documents constituting each Contract File and each Servicer Contract File that are in the possession of the Servicer or that at any time come into the possession of the Servicer in trust as custodian for the Holders of the Certificates, and the Servicer hereby acknowledges and declares that it holds and will hold or has agreed to hold such documents as custodian and as the bailee for, and for the exclusive use and benefit of, the Holders of the Certificates in accordance with the terms of the Pooling and Servicing Agreement, and shall make disposition thereof only in accordance with the Pooling and Servicing Agreement. The Servicer shall segregate and maintain continuous custody of all documents constituting the Contract Files in its possession in secure and fireproof-rated locked files or vaults in accordance with customary standards for such custody. From time to time, the Company or the Seller shall deliver to the Servicer for inclusion in the appropriate Contract File, the original Contract Documents for any Contract to the extent that copies of such original documents were initially included in such Contract File or in the event that only a copy of an application for an original Contract Document was initially included among the related Contract Documents. In addition, the Servicer shall add to the appropriate Contract File any additional original documents received by the Servicer that evidence a modification of the related Contract approved by the Company. The Servicer shall maintain custody of the Contract Files and Servicer Contract Files for each Series in its possession at its offices where the Contract Files and Servicer Contract Files are presently maintained or at such other offices of the Servicer in the State of Florida as the Servicer may identify to the Trustee by written notice provided at least ten days prior to the Servicer's change of the location of its custody of the Contract Files and Servicer Contract Files. The Servicer may not move the location of its custody of the Contract Files and Servicer Contract Files for any Series outside of the State of Florida without first giving 30 days' prior written notice of such relocation to each applicable Rating Agency and the Trustee and obtaining each such Rating Agency's written confirmation that such relocation will not result in any downgrading of any Certificates of such Series. Notwithstanding the foregoing, the Servicer may temporarily move individual Contract Files or any portions thereof without notice to the Trustee or any Rating Agency as may be necessary for it to conduct collection and other servicing activities in accordance with its customary practices and procedures. In acting as custodian of the Contract Files, the Servicer agrees not to assert any ownership interests in the Contracts or the Contract Files, and to indicate to any third parties, promptly upon their inquiry to the Servicer, that the Contracts and the Contract Files have been sold and assigned to the appropriate Trust.

The Contracts. (a) Servicer's Custody of Contract Files and Servicer Contract Files. The ---------------------------------------------------------------- parties to the Pooling and Servicing Agreement, by their execution thereof, acknowledge the Servicer's appointment to serve as custodian of the Contract Files and the Servicer Contract Files as described herein for the benefit of the Certificateholders and the Trustee. The Servicer, by its execution of the Pooling and Servicing Agreement, agrees to, and shall, retain possession of the Contract File and the Servicer Contract File pertaining to each of the Contracts on behalf of the Certificateholders and the Trustee. Without limiting the foregoing, the Trustee acknowledges that, with respect to each Contract secured by a Manufactured Home located in Virginia as to which the Trustee is identified as first lienor on the related certificate of title, for purposes of Section 46.2-641 of the Virginia Code (as currently in effect), the Servicer is holding such Contract and the related certificate of title as bailee and agent for the Trustee as such first lienor. The Servicer (or a custodian appointed by the Servicer) shall hold each Contract and any other documents constituting each Contract File and each Servicer Contract File that are in the possession of the Servicer or that at any time come into the possession of the Servicer in trust as custodian for the Holders of the Certificates, and the Servicer hereby acknowledges and declares that it holds and will hold or has agreed to hold such documents as custodian and as the bailee for, and for the exclusive use and benefit of, the Holders of the Certificates in accordance with the terms of the Pooling and Servicing Agreement, and shall make disposition thereof only in accordance with the Pooling and Servicing Agreement. The Servicer shall segregate and maintain continuous custody of all documents constituting the Contract Files in its possession in secure and fireproof-rated locked files or vaults in accordance with customary standards for such custody. From time to time, the Company OMI or the Seller shall deliver to the Servicer for inclusion in the appropriate Contract File, the original Contract Documents for any Contract to the extent that copies of such original documents were initially included in such Contract File or in the event that only a copy of an application for an original Contract Document was initially included among the related Contract Documents. In addition, the Servicer shall add to the appropriate Contract File any additional original documents received by the Servicer that evidence a modification of the related Contract approved by the CompanyOMI. The Servicer shall maintain custody of the Contract Files and Servicer Contract Files for each Series in its possession at its offices where the Contract Files and Servicer Contract Files are presently maintained or at such other offices of the Servicer in the State of Florida North Carolina as the Servicer may identify to the Trustee by written notice provided at least ten days prior to the Servicer's change of the location of its custody of the Contract Files and Servicer Contract Files. The Servicer may not move the location of its custody of the Contract Files and Servicer Contract Files for any Series outside of the State of Florida North Carolina without first giving 30 days' prior written notice of such relocation to each applicable Rating Agency and the Trustee and obtaining each such Rating Agency's written confirmation that such relocation will not result in any downgrading of any Certificates of such Series. Notwithstanding the foregoing, the Servicer may temporarily move individual Contract Files or any portions thereof without notice to the Trustee or any Rating Agency as may be necessary for it to conduct collection and other servicing activities in accordance with its customary practices and procedures. In acting as custodian of the Contract Files, the Servicer agrees not to assert any ownership interests in the Contracts or the Contract Files, and to indicate to any third parties, promptly upon their inquiry to the Servicer, that the Contracts and the Contract Files have been sold and assigned to the appropriate Trust.

The Contracts. (a) Servicer's Custody of Contract Files and Servicer Contract Files. The parties to the Pooling and Servicing Agreement, by their execution thereof, acknowledge the Servicer's appointment to serve as custodian of the Contract Files and the Servicer Contract Files as described herein for the benefit of the Certificateholders and the Trustee. The Servicer, by its execution of the Pooling and Servicing Agreement, agrees to, and shall, retain possession of the Contract File and the Servicer Contract File pertaining to each of the Contracts on behalf of the Certificateholders and the Trustee. Without limiting the foregoing, the Trustee acknowledges that, with respect to each Contract secured by a Manufactured Home located in Virginia as to which the Trustee is identified as first lienor on the related certificate of title, for purposes of Section 46.2-641 of the Virginia Code (as currently in effect), the Servicer is holding such Contract and the related certificate of title as bailee and agent for the Trustee as such first lienor. The Servicer (or a custodian appointed by the Servicer) shall hold each Contract and any other documents constituting each Contract File and each Servicer Contract File that are in the possession of the Servicer or that at any time come into the possession of the Servicer in trust as custodian for the Holders of the Certificates, and the Servicer hereby acknowledges and declares that it holds and will hold or has agreed to hold such documents as custodian and as the bailee for, and for the exclusive use and benefit of, the Holders of the Certificates in accordance with the terms of the Pooling and Servicing Agreement, and shall make disposition thereof only in accordance with the Pooling and Servicing Agreement. The Servicer shall segregate and maintain continuous custody of all documents constituting the Contract Files in its possession in secure and fireproof-rated locked files or vaults in accordance with customary standards for such custody. From time to time, the Company or the Seller shall deliver to the Servicer for inclusion in the appropriate Contract File, the original Contract Documents for any Contract to the extent that copies of such original documents were initially included in such Contract File or in the event that only a copy of an application for an original Contract Document was initially included among the related Contract Documents. In addition, the Servicer shall add to the appropriate Contract File any additional original documents received by the Servicer that evidence a modification of the related Contract approved by the Company. The Servicer shall maintain custody of the Contract Files and Servicer Contract Files for each Series in its possession at its offices where the Contract Files and Servicer Contract Files are presently maintained or at such other offices of the Servicer in the State of Florida North Carolina as the Servicer may identify to the Trustee by written notice provided at least ten days prior to the Servicer's change of the location of its custody of the Contract Files and Servicer Contract Files. The Servicer may not move the location of its custody of the Contract Files and Servicer Contract Files for any Series outside of the State of Florida North Carolina without first giving 30 days' prior written notice of such relocation to each applicable Rating Agency and the Trustee and obtaining each such Rating Agency's written confirmation that such relocation will not result in any downgrading of any Certificates of such Series. Notwithstanding the foregoing, the Servicer may temporarily move individual Contract Files or any portions thereof without notice to the Trustee or any Rating Agency as may be necessary for it to conduct collection and other servicing activities in accordance with its customary practices and procedures. In acting as custodian of the Contract Files, the Servicer agrees not to assert any ownership interests in the Contracts or the Contract Files, and to indicate to any third parties, promptly upon their inquiry to the Servicer, that the Contracts and the Contract Files have been sold and assigned to the appropriate Trust.