Common use of Title and Mortgage Loan Schedule Clause in Contracts

Title and Mortgage Loan Schedule. RRAC represents and warrants to, and agrees with, Sequoia that (i) on the Closing Date, RRAC will have good, valid and marketable title to the mortgage loans identified on Schedule A hereto (the “Mortgage Loans”), in each case free and clear of all liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; (ii) upon transfer to Sequoia, Sequoia will receive good, valid and marketable title to all of the Mortgage Loans, in each case free and clear of any liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; and (iii) as to each Mortgage Loan that is not a Schedule 1B Mortgage Loan (as defined in the PHH AAR), as of the date on which RRAC purchased such Mortgage Loan from either First Republic Bank or PHH Mortgage Corporation, as applicable (each, an “Originator”), and as to each Schedule 1B Mortgage Loan, as of the date on which DLJ Mortgage Capital, Inc. purchased such Mortgage Loan from PHH Mortgage Corporation, the information set forth in the Mortgage Loan Schedule in the fields identified as “Document Type,” “Monthly Income” and “Assets Verified” is complete, true and correct in all material respects.

Title and Mortgage Loan Schedule. RRAC represents and warrants to, and agrees with, Sequoia that (i) on the Closing Date, RRAC will have good, valid and marketable title to the mortgage loans identified on Schedule A hereto (the “Mortgage Loans”), in each case free and clear of all liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; (ii) upon transfer to Sequoia, Sequoia will receive good, valid and marketable title to all of the Mortgage Loans, in each case free and clear of any liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; and (iii) (1) as to each Mortgage Loan that is not a Schedule 1B Mortgage Loan originated by First Republic Bank (as defined in the PHH AAR“First Republic”) and purchased by RRAC from DLJ Mortgage Capital, Inc. (a “FRB DLJ Loan”), as of the date on which RRAC purchased such Mortgage Loan from either Xxxx Xxxxxx Bank (“Xxxx Xxxxxx”), First Republic Bank or Republic, Flagstar Capital Markets Corporation (“Flagstar”), GuardHill Financial Corporation (“GuardHill”), PHH Mortgage CorporationCorporation (“PHH”), PrimeLending, a PlainsCapital Company (“PrimeLending”), Sterling Savings Bank (“Sterling”) or Wintrust Mortgage, a division of Barrington Bank and Trust (“Wintrust”), as applicable (each, an “Originator”), and (2) as to each Schedule 1B Mortgage FRB DLJ Loan, as of the date on which DLJ Mortgage Capital, Inc. purchased such Mortgage Loan from PHH Mortgage CorporationFirst Republic, the information set forth in the Mortgage Loan Schedule in the fields identified as “Document Type,” “Monthly Income” and “Assets Verified” is complete, true and correct in all material respects.

Title and Mortgage Loan Schedule. RRAC represents and warrants to, and agrees with, Sequoia that (i) on the Closing Date, RRAC will have good, valid and marketable title to the mortgage loans identified on Schedule A hereto (the “Mortgage Loans”), in each case free and clear of all liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; (ii) upon transfer to Sequoia, Sequoia will receive good, valid and marketable title to all of the Mortgage Loans, in each case free and clear of any liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; and (iii) (1) as to each Mortgage Loan that is not a Schedule 1B Mortgage Loan originated by First Republic Bank (as defined in the PHH AAR“First Republic”) and purchased by RRAC from DLJ Mortgage Capital, Inc. (a “FRB DLJ Loan”), as of the date on which RRAC purchased such Mortgage Loan from either Xxxx Xxxxxx Bank (“Xxxx Xxxxxx”), First Republic Bank or Republic, Flagstar Capital Markets Corporation (“Flagstar”), GuardHill Financial Corporation (“GuardHill”), PHH Mortgage CorporationCorporation (“PHH”), PrimeLending, a PlainsCapital Company (“PrimeLending”), Sterling Savings Bank (“Sterling”) or Wintrust Mortgage Corporation (“Wintrust”), as applicable (each, an “Originator”), and (2) as to each Schedule 1B Mortgage FRB DLJ Loan, as of the date on which DLJ Mortgage Capital, Inc. purchased such Mortgage Loan from PHH Mortgage CorporationFirst Republic, the information set forth in the Mortgage Loan Schedule in the fields identified as “Document Type,” “Monthly Income” and “Assets Verified” is complete, true and correct in all material respects.

Title and Mortgage Loan Schedule. RRAC represents and warrants to, and agrees with, Sequoia Sxxxxxx that (i) on the Closing Date, RRAC will have good, valid and marketable title to the mortgage loans identified on Schedule A hereto (the “Mortgage Loans”), in each case free and clear of all liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; (ii) upon transfer to Sequoia, Sequoia will receive good, valid and marketable title to all of the Mortgage Loans, in each case free and clear of any liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; and (iii) (1) as to each Mortgage Loan that is not either (A) a Schedule 1B Mortgage Loan (as defined in the PHH AAR) or (B) a Mortgage Loan originated by First Republic Bank and purchased by RRAC from DLJ Mortgage Capital, Inc. (a “FRB DLJ Loan”), as of the date on which RRAC purchased such Mortgage Loan from either First Republic Bank or Bank, PHH Mortgage Corporation, PrimeLending, a PlainsCapital Company (“PrimeLending”), Sterling Savings Bank (“Sterling”), SunTrust Mortgage, Inc. or Wxxxx Fargo Bank, N.A., as applicable (each, an “Originator”), and (2) as to each Schedule 1B Mortgage Loan, as of the date on which DLJ Mortgage Capital, Inc. purchased such Mortgage Loan from PHH Mortgage Corporation, and (3) as to each FRB DLJ Loan, as of the date on which DLJ Mortgage Capital, Inc. purchased such Mortgage Loan from First Republic Bank, the information set forth in the Mortgage Loan Schedule in the fields identified as “Document Type,” “Monthly Income” and “Assets Verified” is complete, true and correct in all material respects.

Title and Mortgage Loan Schedule. RRAC represents and warrants to, and agrees with, Sequoia that (i) on the Closing Date, RRAC will have good, valid and marketable title to the mortgage loans identified on Schedule A hereto (the “Mortgage Loans”), in each case free and clear of all liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; (ii) upon transfer to Sequoia, Sequoia will receive good, valid and marketable title to all of the Mortgage Loans, in each case free and clear of any liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims; and (iii) (1) as to each Mortgage Loan that is not either (A) a Schedule 1B Mortgage Loan (as defined in the PHH AAR) or (B) a Mortgage Loan originated by First Republic Bank and purchased by RRAC from DLJ Mortgage Capital, Inc. (a “FRB DLJ Loan”), as of the date on which RRAC purchased such Mortgage Loan from either First Republic Bank or Bank, PHH Mortgage Corporation, PrimeLending, a PlainsCapital Company (“PrimeLending”), Sterling Savings Bank (“Sterling”), SunTrust Mortgage, Inc. or Wxxxx Fargo Bank, N.A., as applicable (each, an “Originator”), and (2) as to each Schedule 1B Mortgage Loan, as of the date on which DLJ Mortgage Capital, Inc. purchased such Mortgage Loan from PHH Mortgage Corporation, and (3) as to each FRB DLJ Loan, as of the date on which DLJ Mortgage Capital, Inc. purchased such Mortgage Loan from First Republic Bank, the information set forth in the Mortgage Loan Schedule in the fields identified as “Document Type,” “Monthly Income” and “Assets Verified” is complete, true and correct in all material respects.