Common use of Trustee and Trust Administrator to Cooperate; Release of Mortgage Files Clause in Contracts

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-7), Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-Ar8), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-3)

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Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates Ser 2002-Ar31), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2002 Ar27)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trust Administrator by a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian shall Trust Administrator shall, within three five Business Days Days, release and send by overnight mail, at the expense of the Servicer, the related Mortgage File to the related Servicer. The Trust Administrator agrees to indemnify the Servicer, and out of its own funds, for any loss, liability or expense (other than special, indirect, punitive or consequential damages which will not be paid by the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Trust Administrator) incurred by the Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien as a proximate result of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence Trust Administrator's breach of cancellation thereonits obligations pursuant to this Section 3.17. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related MortgagorCollection Account or the Distribution Account. The Trust Administrator will provide to the Certificate Insurer and the Trustee an updated listing of any Mortgage Files released pursuant to this Section 3.17(a) on March 30, June 30, September 30 and December 30 of each year, beginning in March 1999 and as otherwise requested by the Certificate Insurer or the Trustee. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note Loans, the Trust Administrator shall, upon any request made by or the Mortgage or any on behalf of the other documents included in the Mortgage File, the Custodian within three Business Days of Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Servicer, and the Trustee shall, at the direction of the Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, in which case such or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer shall deliver has delivered, or caused to be delivered, to the Trustee, or the Custodian a Trust Administrator an additional Request for Release in certifying as to such liquidation or action or proceedings. Upon the form request of Exhibit Kthe Trust Administrator, signed by a Servicing Officer. Each the Trustee or the Certificate Insurer, the Servicer is also authorized shall provide notice to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliverTrust Administrator, on behalf of the Trustee and the Certificateholders Certificate Insurer of the name and address of the Person to which such Mortgage File or any such document was delivered and the purpose or purposes of themsuch delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of outstanding Requests for Release with respect to such loan Mortgage Loan shall be released by the Trust Administrator to the Trustee. If Servicer or its designee. (c) Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the Servicer at any time seeks to initiate a foreclosure proceeding in respect or the Sub-Servicer, as the case may be, and upon the request of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such the Certificate Insurer the Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriateCertificate Insurer copies of, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (Salomon Bros MRT Sec Vii Inc MRT PSS THR Cert Ser 1998 Nc7), Pooling and Servicing Agreement (Argent Securities Inc)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer or the Trust Administrator will immediately notify the Custodian Custodian, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. J. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K J signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit KJ, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Acceptance Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Acceptance Corp), Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-8)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. M. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K M signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KM, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage Acceptance Corp Mort Back Cert Ser 2003-1), Pooling and Servicing Agreement (CSFB Mortgage Acceptance Corp Mort Back Cert Ser 2003-1), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2003-8)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. M. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K M signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KM, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2002-29)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer or the Trust Administrator will immediately notify the Custodian Custodian, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. L. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K L signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit KL, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-5), Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-9), Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-3)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trust Administrator and the Trustee by a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. Collection Account or the Distribution Account. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note Loans, the Trust Administrator shall, upon any request made by or the Mortgage or any on behalf of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Master Servicer, and the Trustee shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, in which case or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer has delivered, or caused to be delivered, to the Trust Administrator an additional Request for Release certifying as to such liquidation or action or proceedings. Upon the request of the Trust Administrator or the Trustee, the Master Servicer shall provide notice to the Trust Administrator and the Trustee of the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, any outstanding Requests for Release with respect to such Mortgage Loan shall be released by the Trust Administrator to the Master Servicer or its designee. (c) Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the Trustee, Master Servicer or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a NonSub-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signatureServicer, as appropriatethe case may be, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Fl Rte Pas THR Ce Se 1999 Nc3), Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Fl Rt Cer Se 1999-Nc5), Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Fl Rte Cert Se 1999-Nc4)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will the Trust Administrator shall immediately notify the Custodian Custodian, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. L. Upon receipt the Custodian’s release of such request, the Custodian shall within three Business Days release the related Mortgage File to the related ServicerServicer pursuant to the Custodial Agreement, and the Trustee shall within three Business Days of such the Servicer’s direction execute and deliver to such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage Mortgage, in each case provided by such the Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policypolicy or, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery Servicer shall provide to the Custodian of a Request for Release substantially in the form of Exhibit K L signed by a Servicing Officer, requesting release of the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Custodial Account, in which case such the Servicer shall deliver to the Trustee, or the Custodian a Request for Release substantially in the form of Exhibit KL, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such the Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (TBW Mortgage-Backed Trust Series 2007-2), Pooling and Servicing Agreement (TBW Mortgage-Backed Trust Series 2006-4), Pooling and Servicing Agreement (TBW 2006-1)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trust Administrator by a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian shall Trust Administrator shall, within three five Business Days Days, release and send by overnight mail, at the expense of the Servicer, the related Mortgage File to the related Servicer. The Trust Administrator agrees to indemnify the Servicer, and out of its own funds, for any loss, liability or expense (other than special, indirect, punitive or consequential damages which will not be paid by the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Trust Administrator) incurred by the Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien as a proximate result of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence Trust Administrator's breach of cancellation thereonits obligations pursuant to this Section 3.17. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related MortgagorCollection Account or the Distribution Account. The Trust Administrator will provide to the Certificate Insurer and the Trustee an updated listing of any Mortgage Files released pursuant to this Section 3.17(a) on March 30, June 30, September 30 and December 30 of each year, beginning in March 2000 and as otherwise requested by the Certificate Insurer or the Trustee. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note Loans, the Trust Administrator shall, upon any request made by or the Mortgage or any on behalf of the other documents included in the Mortgage File, the Custodian within three Business Days of Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Servicer, and the Trustee shall, at the direction of the Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, in which case such or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer shall deliver has delivered, or caused to be delivered, to the Trustee, or the Custodian a Trust Administrator an additional Request for Release in certifying as to such liquidation or action or proceedings. Upon the form request of Exhibit Kthe Trust Administrator, signed by a Servicing Officer. Each the Trustee or the Certificate Insurer, the Servicer is also authorized shall provide notice to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliverTrust Administrator, on behalf of the Trustee and the Certificateholders Certificate Insurer of the name and address of the Person to which such Mortgage File or any such document was delivered and the purpose or purposes of themsuch delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of outstanding Requests for Release with respect to such loan Mortgage Loan shall be released by the Trust Administrator to the Trustee. If Servicer or its designee. (c) Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the Servicer at any time seeks to initiate a foreclosure proceeding in respect or the Sub-Servicer, as the case may be, and upon the request of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such the Certificate Insurer the Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriateCertificate Insurer copies of, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Park Place Securities, Inc.), Pooling and Servicing Agreement (New Century Mortgage Securities LLC), Pooling and Servicing Agreement (Boardwalk Mortgage Securities Inc.)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer or the Trust Administrator will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. J. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K J signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KJ, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2003 23), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2003-25), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Thru Cert Ser 2003-27)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer or the Trust Administrator will immediately notify the Custodian related Custodian, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. L. Upon receipt of such request, the related Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the related Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the related Custodian within three Business Days of delivery to the related Custodian of a Request for Release in the form of Exhibit K L signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the related Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the related Custodian a Request for Release in the form of Exhibit KL, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-7), Pooling and Servicing Agreement (CSAB Mortgage-Backed Trust 2007-1), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates Ser Ar15), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Ser 2003-Ar12), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2002-Ar33)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer or the Trust Administrator will immediately notify the Custodian Custodian, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. J. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K J signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit KJ, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Thru Cert Series 2004-1), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Thru Cert Series 2004-1)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Non Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Non Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Non Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-the Non Designated Mortgage Mortage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSFB Sec Corp CSFB Mort Backed Pass THR Certs Ser 2003 Ar18), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2003 Ar20)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of such Servicer’s 's direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mort Accept Corp Series 2002-5)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. L. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of such Servicer’s 's direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K L signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KL, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Ser 2004-Ar1), Pooling and Servicing Agreement (CSFB Mortgage Back Pass THR Cer Ser 2003-Ar2)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will shall immediately notify the related Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the such Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the such Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the related Custodian within three Business Days of delivery to the such Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the related Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the related Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-6)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. P. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer's or such Servicer’s 's direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K P signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KP, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Ser 2002 18)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trust Administrator, the Trustee and the Certificate Insurer by a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. Collection Account or the Distribution Account. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note Loans, the Trust Administrator shall, upon any request made by or the Mortgage or any on behalf of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Master Servicer, and the Trustee shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, in which case such or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer shall deliver has delivered, or caused to be delivered, to the Trustee, or the Custodian a Trust Administrator an additional Request for Release in certifying as to such liquidation or action or proceedings. Upon the form request of Exhibit Kthe Trust Administrator, signed by a Servicing Officer. Each the Trustee or the Certificate Insurer, the Master Servicer is also authorized shall provide notice to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliverTrust Administrator, on behalf of the Trustee and the Certificateholders Certificate Insurer of the name and address of the Person to which such Mortgage File or any such document was delivered and the purpose or purposes of themsuch delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of outstanding Requests for Release with respect to such loan Mortgage Loan shall be released by the Trust Administrator to the Trustee. If Master Servicer or its designee. (c) Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the Master Servicer at any time seeks to initiate a foreclosure proceeding in respect or the Sub-Servicer, as the case may be, and upon the request of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such the Certificate Insurer the Master Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriateCertificate Insurer copies of, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Salom BRS MRT Sec Vii Call FLT Rt Mt Ps Th Cer Ser 1998 Nc5)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s 's direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse Adjustable Rate Mortgage Trust 2006-1)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. I. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer's or such Servicer’s 's direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K I signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KI, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Cert Series 2002-Ar8)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. M. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K M signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KM, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Cert Series 2003-10)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-Ar7)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in payment-in-full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in payment-in-full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a the Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certs Series 2003-Ar24)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, Loan or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trustee, the Trust Administrator and the Certificate Insurer by a “Request for Release” substantially certification in the form of Exhibit K. D-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to any Account or shall be otherwise chargeable to the related MortgagorTrust, the Trustee, the Trust Administrator , the Certificateholders or the Certificate Insurer. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purposethe Trust Administrator shall, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien upon request of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerD-1, release the related Mortgage File to the Master Servicer, and the Trustee shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds or Insurance Proceeds relating to the Mortgage Loan have been deposited in the related Collection Account, in which case Account or the Mortgage File or such Servicer shall deliver document has been delivered to the Trusteean attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the Custodian a Request for Release in foreclosure of the form of Exhibit KMortgaged Property either judicially or non-judicially, signed by a Servicing Officer. Each and the Master Servicer is also authorized has delivered to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders Trust Administrator a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or any of them, any such document was delivered and all instruments of satisfaction the purpose or cancellation or of partial or full release, including an assignment purposes of such loan delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Collection Account have been so deposited, a copy of the Request for Release shall be released by the Trust Administrator to the TrusteeMaster Servicer. If Upon written certification of a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this AgreementServicing Officer, such Servicer the Trustee shall execute and deliver or cause to be delivered to the Trustee, for signature, as appropriate, Master Servicer any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (New Century Mort Sec Inc New Cent Hm Eq Ln Tr Ser 2000-Nca)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s 's direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-10)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately promptly notify the Custodian Trustee and Trust Administrator by delivering, or causing to be delivered a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Representative and shall request delivery to it of the related Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. Collection Account or the Distribution Account. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note or Loans, the Mortgage or any Trust Administrator shall, upon request of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Master Servicer, and the Trustee or the Trust Administrator, on behalf of the Trustee, shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings and the Master Servicer shall retain such Mortgage File in trust for the benefit of the Certificateholders. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer has delivered to the Trust Administrator a certificate of a Servicing Representative certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Representative stating that such Mortgage Loan was liquidated and that all amounts received or to be received in which case connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Trust Administrator to the Master Servicer or its designee. (c) Upon written certification of a Servicing Representative, the Trust Administrator shall execute and deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents reasonably necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity, or shall exercise and deliver to the Master Servicer a power of attorney sufficient to authorize the Master Servicer to execute such documents on its behalf, provided that the Trust Administrator shall be obligated to execute the documents identified above if necessary to enable the Master Servicer to perform its duties hereunder. Each such certification shall include a request that such pleadings or documents be executed by the Trust Administrator and a statement as to the reason such documents or pleadings are required.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Mort Loan Tr 2001-4 as Bk Cert Ser 2001-4)

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Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, Loan or the receipt by a the Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trustee, the Trust Administrator and the Certificate Insurer by a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to any Account or shall be otherwise chargeable to the related MortgagorTrust, the Trustee, the Trust Administrator , the Certificateholders or the Certificate Insurer. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purposethe Trust Administrator shall, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien upon request of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-1, release the related Mortgage File to the Servicer, and the Trustee shall, at the direction of the Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds or Property Insurance Proceeds relating to the Mortgage Loan (net of the amounts, if any, described in clauses (w), (x), (y) and (z) of Section 3.10(a)(v) hereof) have been deposited in the related Collection Account, in which case Account or the Mortgage File or such Servicer shall deliver document has been delivered to the Trusteean attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the Custodian a Request for Release in foreclosure of the form of Exhibit KMortgaged Property either judicially or non-judicially, signed by a Servicing Officer. Each and the Servicer is also authorized has delivered to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders Trust Administrator a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or any of them, any such document was delivered and all instruments of satisfaction the purpose or cancellation or of partial or full release, including an assignment purposes of such loan delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Collection Account have been so deposited, a copy of the Request for Release shall be released by the Trust Administrator to the TrusteeServicer. If Upon written certification of a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this AgreementServicing Officer, such Servicer the Trustee shall execute and deliver or cause to be delivered to the Trustee, for signature, as appropriate, Servicer any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. I. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K I signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit KI, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-6a)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately promptly notify the Trustee, Trust Administrator and the applicable Custodian holding the related Mortgage File by delivering, or causing to be delivered a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Representative and shall request delivery to it of the related Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator or such Custodian, as applicable, shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. Collection Account or the Distribution Account. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note Loans, the Trust Administrator or the Mortgage or any applicable Custodian shall, upon request of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Trust Administrator or the applicable Custodian of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Master Servicer, and the Trustee or the Trust Administrator or the applicable Custodian, on behalf of the Trustee, shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings and the Master Servicer shall retain such Mortgage File in trust for the benefit of the Certificateholders and the Certificate Insurer. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to Trust Administrator or the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the applicable Custodian on its behalf, when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer has delivered to the Trust Administrator or the applicable Custodian a certificate of a Servicing Representative certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Representative stating that such Mortgage Loan was liquidated and that all amounts received or to be received in which case connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Trust Administrator or the applicable Custodian to the Master Servicer or its designee. (c) At the direction of the Master Servicer and upon written certification of a Servicing Representative, each of the Trustee, the applicable Custodian or the Trust Administrator shall execute and deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents reasonably necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity, or shall execute and deliver to the Master Servicer a power of attorney sufficient to authorize the Master Servicer or the Sub-Servicer to execute such documents on its behalf, provided that each of the Trustee and the Trust Administrator or the applicable Custodian shall be obligated to execute the documents identified above if necessary to enable the Master Servicer or the Sub-Servicer to perform their respective duties hereunder or under the Sub-Servicing Agreement. Each such certification shall include a request that such pleadings or documents be executed by the Trust Administrator or the applicable Custodian and a statement as to the reason such documents or pleadings are required.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Sec Corp Asset Backed Cert Ser 2002 3)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such the Master Servicer or the Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. M. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the related Master Servicer or the Servicer, and the Trustee shall within three Business Days of such the Master Servicer’s or the Servicer’s direction execute and deliver to such the Master Servicer or the Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such the Master Servicer or the Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K M signed by a Servicing Officer, release the Mortgage File to the related Master Servicer or the Servicer. Subject to the further limitations set forth below, the related Master Servicer or the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by such the Master Servicer or the Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such the Master Servicer or the Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KM, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such the Master Servicer or the Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated the Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Ser 2003-Ar30)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer's or such Servicer’s 's direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2002-Ar13)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a the Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Ser 2003-Ar26)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, Loan or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trustee, the Trust Administrator and the Certificate Insurer by a “Request for Release” substantially certification in the form of Exhibit K. D-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to any Account or shall be otherwise chargeable to the related MortgagorTrust, the Trustee, the Trust Administrator , the Certificateholders or the Certificate Insurer. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purposethe Trust Administrator shall, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien upon request of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerD-1, release the related Mortgage File to the Master Servicer, and the Trustee shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds or Insurance Proceeds relating to the Mortgage Loan have been deposited in the related Collection Account, in which case Account or the Mortgage File or such Servicer shall deliver document has been delivered to the Trusteean attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the Custodian a Request for Release in foreclosure of the form of Exhibit KMortgaged Property either judicially or non-judicially, signed by a Servicing Officer. Each and the Master Servicer is also authorized has delivered to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders Trust Administrator a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or any of them, any such document was delivered and all instruments of satisfaction the purpose or cancellation or of partial or full release, including an assignment purposes of such loan delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the 72 Collection Account have been so deposited, a copy of the Request for Release shall be released by the Trust Administrator to the TrusteeMaster Servicer. If Upon written certification of a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this AgreementServicing Officer, such Servicer the Trustee shall execute and deliver or cause to be delivered to the Trustee, for signature, as appropriate, Master Servicer any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (New Century Mort Sec Inc Home Equity Loan Trust Ser 1999 NCD)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, Loan or the receipt by a the Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trustee, the Trust Administrator and the Certificate Insurer by a “Request for Release” substantially certification in the form of Exhibit K. D-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to any Account or shall be otherwise chargeable to the related MortgagorTrust, the Trustee, the Trust Administrator , the Certificateholders or the Certificate Insurer. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purposethe Trust Administrator shall, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien upon request of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerD-1, release the related Mortgage File to the Servicer, and the Trustee shall, at the direction of the Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.the

Appears in 1 contract

Samples: Pooling and Servicing Agreement (New Century Home Eq Ln Tr Ser 2000 NCB Asset Back Ps THR Cer)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer will or the Trust Administrator shall immediately notify the related Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the such Custodian shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the such Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the related Custodian within three Business Days of delivery to the such Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the related Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the related Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-6)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. S. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer's or such Servicer’s 's direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K S signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KS, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2002 10)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Custodian by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. Upon receipt of such request, the Custodian shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of delivery to the Custodian of a Request for Release in the form of Exhibit K signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated the Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Cert Series 2003-Ar28)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. M. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer's or such Servicer’s 's direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K M signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KM, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately promptly notify the Custodian Trustee and Trust Administrator by delivering, or causing to be delivered a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Representative and shall request delivery to it of the related Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. Collection Account or the Distribution Account. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note or Loans, the Mortgage or any Trust Administrator shall, upon request of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Master Servicer, and the Trustee or the Trust Administrator, on behalf of the Trustee, shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings and the Master Servicer shall retain such Mortgage File in trust for the benefit of the Certificateholders. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, in which case such or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer shall deliver has delivered to the TrusteeTrust Administrator a certificate of a Servicing Representative certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Representative stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Custodian a Request for Release in shall be released by the form Trust Administrator to the Master Servicer or its designee. (c) At the direction of Exhibit K, signed by the Master Servicer and upon written certification of a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliverRepresentative, on behalf each of the Trustee and the Certificateholders or any of them, any Trust Administrator shall execute and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan deliver to the Trustee. If a Master Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents reasonably necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity, or shall execute 132 and deliver to the Master Servicer a power of attorney sufficient to authorize the Master Servicer or the Sub-Servicer to execute such documents on its behalf, provided that each of the Trustee and the Trust Administrator shall be obligated to execute the documents identified above if necessary to enable the Master Servicer or the Sub-Servicer to perform their respective duties hereunder or under the Sub-Servicing Agreement. Each such certification shall include a request that such pleadings or documents be executed by the Trust Administrator and a statement as to the reason such documents or pleadings are required.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Backed Cert Ser 2002 2)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately notify the Trust Administrator and the Trustee and any related Custodian by delivering, or causing to be delivered a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator or such Custodian, as the case may be, shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. Collection Account or the Distribution Account. (b) From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including including, for such this purpose, collection under any insurance policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections relating to the Mortgage Note or Loans, the Mortgage or Trust Administrator and any related Custodian shall, upon request of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator or such Custodian, as the case may be, of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-l, release the related Mortgage File to the Master Servicer, and the Trustee or the Trust Administrator, on behalf of the Trustee, shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings and the Master Servicer shall retain such Mortgage File in trust for the benefit of the Certificateholders. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject Trust Administrator or to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the such Custodian on its behalf, when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Collection AccountAccount or the Mortgage File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer has delivered to the Trust Administrator a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in which case connection with such liquidation that are required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Trust Administrator or such Custodian to the Master Servicer or its designee. (c) Upon written certification of a Servicing Officer, the Trust Administrator shall execute and deliver to the Trustee, or the Custodian a Request for Release in the form of Exhibit K, signed by a Servicing Officer. Each Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s 's sale or other documents reasonably necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity, or shall exercise and deliver to the Master Servicer a power of attorney sufficient to authorize the Master Servicer to execute such documents on its behalf, provided that the Trust Administrator shall be obligated to execute the documents identified above if necessary to enable the Master Servicer to perform its duties hereunder. Each such certification shall include a request that such pleadings or documents be executed by the Trust Administrator and a statement as to the reason such documents or pleadings are required.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Backed Certs Series 2000 1)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, such Servicer or the Trust Administrator will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a “Request for Release” substantially in the form of Exhibit K. M. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the related Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K M signed by a Servicing Officer, release the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KM, signed by a Servicing Officer. Each Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2003 19)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, Loan or the receipt by a the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, such the Master Servicer will immediately notify the Custodian by delivering, or causing cause to be delivered notified the Trustee, the Trust Administrator and the Certificate Insurer by a “Request for Release” substantially certification in the form of Exhibit K. E-2 (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File. Upon receipt of such certification and request, the Custodian Trust Administrator shall within three Business Days promptly release the related Mortgage File to the related Master Servicer, and the Trustee shall within three Business Days of such Servicer’s direction execute and deliver to such Servicer the deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by such Servicer, and the Custodian shall deliver the Mortgage Note with written evidence of cancellation thereon. Expenses No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to any Account or shall be otherwise chargeable to the related MortgagorTrust, the Trustee, the Trust Administrator , the Certificateholders or the Certificate Insurer. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purposethe Trust Administrator shall, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien upon request of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Custodian within three Business Days of Master Servicer and delivery to the Custodian Trust Administrator of a Request for Release in the form of Exhibit K signed by a Servicing OfficerE-1, release the related Mortgage File to the Master Servicer, and the Trustee shall, at the direction of the Master Servicer, execute such documents as shall be necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Master Servicer to return each and every document previously requested from the Mortgage File to the related Servicer. Subject to the further limitations set forth below, the related Servicer shall cause the Mortgage File or documents so released to be returned to the Custodian on its behalf, Trust Administrator when the need therefor by such the Master Servicer no longer exists, unless the Non-Designated Mortgage Loan is has been liquidated and the proceeds thereof are Liquidation Proceeds or Insurance Proceeds relating to the Mortgage Loan have been deposited in the related Collection Account, in which case Account or the Mortgage File or such Servicer shall deliver document has been delivered to the Trusteean attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the Custodian a Request for Release in foreclosure of the form of Exhibit KMortgaged Property either judicially or non-judicially, signed by a Servicing Officer. Each and the Master Servicer is also authorized has delivered to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders Trust Administrator a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or any of them, any such document was delivered and all instruments of satisfaction the purpose or cancellation or of partial or full release, including an assignment purposes of such loan delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Collection Account have been so deposited, a copy of the Request for Release shall be released by the Trust Administrator to the TrusteeMaster Servicer. If Upon written certification of a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this AgreementServicing Officer, such Servicer the Trustee shall execute and deliver or cause to be delivered to the Trustee, for signature, as appropriate, Master Servicer any court pleadings, requests for trustee’s 's sale or other documents necessary to effectuate such the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against the any Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment judgment, or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 1999-NCB)

Trustee and Trust Administrator to Cooperate; Release of Mortgage Files. Upon the payment in full of any Non-Designated Mortgage Loan, or the receipt by the Master Servicer or a Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer or such Servicer will immediately notify the Trustee, or the Custodian on its behalf, by delivering, or causing to be delivered a "Request for Release" substantially in the form of Exhibit K. M. Upon receipt of such request, the Trustee, or the Custodian on its behalf, shall within three Business Days release the related Mortgage File to the Master Servicer or the related Servicer, and the Trustee shall within three Business Days of the Master Servicer’s or such Servicer’s direction execute and deliver to the Master Servicer or such Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage in each case provided by the Master Servicer or such Servicer, and the Custodian shall deliver together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the related Mortgagor. From time to time and as shall be appropriate for the servicing or foreclosure of any Non-Designated Mortgage Loan, including for such purpose, collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee, or the Custodian on its behalf within three Business Days of delivery to the Trustee, or the Custodian on its behalf of a Request for Release in the form of Exhibit K M signed by a Servicing Officer, release the Mortgage File to the Master Servicer or the related Servicer. Subject to the further limitations set forth below, the Master Servicer or the related Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee, or the Custodian on its behalf, when the need therefor by the Master Servicer or such Servicer no longer exists, unless the Non-Designated Mortgage Loan is liquidated and the proceeds thereof are deposited in the related Collection Account, in which case the Master Servicer or such Servicer shall deliver to the Trustee, or the Custodian on its behalf, a Request for Release in the form of Exhibit KM, signed by a Servicing Officer. Each If the Master Servicer is also authorized to cause the removal from the registration on the MERS® System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release, including an assignment of such loan to the Trustee. If a Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property related to a Non-Designated Mortgage Loan as authorized by this Agreement, the Master Servicer or such Servicer shall deliver or cause to be delivered to the Trustee, for signature, as appropriate, any court pleadings, requests for trustee’s sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

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