Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of receipt of such certification and request, the Trustee shall release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 197 contracts
Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (RFMSI Series 2006- SA2 Trust), Pooling and Servicing Agreement (Residential Accredit Loans Inc Rali Series 2004 Qa1 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, G requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 37 contracts
Samples: Custodial Agreement (Ramp Series 2004-Rs4 Trust), Pooling and Servicing Agreement (RAMP Series 2005 SL2 Trust), Custodial Agreement (RAMP Series 2004-Sl4 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit FG, or, in the case of the a Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 14 contracts
Samples: Custodial Agreement (Residential Asset Securities Corp), Custodial Agreement (Residential Asset Securities Corp), Pooling and Servicing Agreement (Residential Asset Securities Corp)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will shall immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms form attached hereto as Exhibit FG, or, in the case of the a Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 14 contracts
Samples: Pooling and Servicing Agreement (RASC Series 2005-Ahl1 Trust), Pooling and Servicing Agreement (RASC Series 2006-Emx1 Trust), Pooling and Servicing Agreement (RASC Series 2006-Ks1 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within five (5) Business Days release the related Mortgage File to the Master ServicerServicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the Servicer is authorized authorized, to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust Series 2005-He2), Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust 2005-He5), Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust 2005-Rm2)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will shall immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, H requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (RAMP Series 2006-Sp1 Trust), Pooling and Servicing Agreement (RAMP Series 2006-Rs3 Trust), Pooling and Servicing Agreement (RAMP Series 2006-Rs4 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 58 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of receipt of such certification and request, the Trustee shall release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full Payoff or scheduled maturity of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that shall cause such final payment to be immediately deposited in full will be escrowed in a manner customary the related Custodial Account for such purposes, P&I or the Investment Account. The Master Servicer will immediately shall promptly notify the Trustee (if it holds the related Mortgage File) or the Custodian thereof by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 either such account have been or will be so deposited), substantially in one ) of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic a Servicing Officer and shall request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File; provided, however, that such certification shall not be required if the Mortgage File is held by a Custodian which is also the Servicer of the Mortgage Loan. Within two Business Days of Upon receipt of such certification and request, the Trustee shall shall, not later than the fifth succeeding Business Day, release, or cause the Custodian to releasebe released, the related Mortgage File to the Master ServicerServicer or the applicable Servicer indicated in such request. The With any such Payoff or other final payment, the Master Servicer is authorized (i) to execute prepare for and deliver to procure from the Mortgagor trustee or mortgagee under the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with Mortgage which secured the Mortgage Note witha deed of full reconveyance or other form of satisfaction or assignment of Mortgage and endorsement of Mortgage Note in connection with a refinancing covering the Mortgaged Property, as appropriatewhich satisfaction, written evidence of cancellation thereon endorsed Mortgage Note or assigning document shall be delivered by the Master Servicer to the person or persons entitled thereto, and (ii) with respect to any MERS Loan, to cause the removal of such Mortgage Loan from the registration on the 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.)
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2002-Ar16), Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2002-S2), Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2002 Ar14)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will shall immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms form attached hereto as Exhibit FG, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (RAMP Series 2005-Rz3 Trust), Pooling and Servicing Agreement (RAMP Series 2004-Rz4 Trust), Pooling and Servicing Agreement (RAMP Series 2005-Rz4 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will shall immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms form attached hereto as Exhibit FG, or, in the case of the a Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (RASC Series 2005-Ks5 Trust), Pooling and Servicing Agreement (SG Mortgage Securities, LLC), Pooling and Servicing Agreement (SG Mortgage Securities, LLC)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit FG, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit FE, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp), Custodial Agreement (Residential Asset Securities Corp), Pooling and Servicing Agreement (Residential Asset Securities Corp)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master related Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master related Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial related Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of related Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within five (5) Business Days release the related Mortgage File to the Master Servicerrelated Servicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the related Servicer is authorized authorized, to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate related Collection Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Series 2005-He1), Pooling and Servicing Agreement (ACE Securities Corp Series 2004-He4), Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust Series 2004 He1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of the principal balance of any Mortgage Loan, or upon if the receipt by Trustee is holding the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposesMortgage Files, the Master Servicer will immediately shall notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification in the form of a Servicing Officer Exhibit E hereto (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 to the Custodial Collection Account pursuant to Section 3.07 3.02 have been or will be so deposited)) of a Servicing Officer. Such notification shall be made each month at the time that the Servicer delivers its Servicer Remittance Report to the Trustee pursuant to Section 4.01. Upon any such payment in full, substantially the Servicer is authorized to procure from such trustee under the Mortgage that secured the related Mortgage Note a deed of full reconveyance covering the related Mortgaged Property encumbered by such Mortgage, which deed, except as otherwise provided in one Section 2941(c) of the forms attached hereto as Exhibit FCalifornia Civil Code or other applicable law, shall be recorded by such trustee in the office of the County Recorder in which the Mortgage is recorded, or, as the case may be, to procure from such trustee an instrument of satisfaction or, if the related Mortgagor so requests, an assignment without recourse, in each case prepared by the Servicer at its expense and executed by the Trustee, which deed of reconveyance, instrument of satisfaction or assignment shall be delivered by the Servicer to the Person entitled thereto, it being understood and agreed that no expenses incurred in connection with such deed of reconveyance, assignment or instrument of satisfaction shall be reimbursed from amounts at the time on deposit in the case Collection or Certificate Account. From time to time and as appropriate for the servicing or foreclosure of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the any Mortgage File. Within two Business Days of receipt of such certification and requestLoan, the Trustee shall releaseshall, or cause upon written request of the Custodian Servicer and delivery to releasethe Trustee of a trust receipt signed by a Servicing Officer, release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to and shall execute and deliver such documents prepared by the Servicer as shall be necessary to the Mortgagor prosecution of any such proceedings. Such trust receipt shall obligate the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with Servicer to return the Mortgage Note with, as appropriate, written evidence of cancellation thereon and File to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and when the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance need therefor by the Servicer no longer exists unless the Mortgage Loan shall be chargeable liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that herein above specified, the trust receipt shall be released by the Trustee to the Custodial Account or the Certificate AccountServicer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Aames Capital Corp), Pooling and Servicing Agreement (Aames Capital Corp), Pooling and Servicing Agreement (Aames Capital Corp)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit FG, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (RAMP Series 2004-Rz3 Trust), Custodial Agreement (Residential Asset Mortgage Products Inc), Custodial Agreement (RAMP Series 2004-Rz3 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) ----------------------------------------------- Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee Custodian (if it the Custodian holds the related Mortgage File) or the Custodian by a certification in the form of a Servicing Officer an Officer's Certificate (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 Custodial Certificate Account pursuant to Section 3.07 5.08 have been or will be so deposited), substantially in one ) of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic a Servicing Officer and shall request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, pursuant to the Custodial Agreement, shall release, or cause the Custodian to release, promptly release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to and shall execute and deliver to the Mortgagor Master Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage Mortgage or such instrument other instruments releasing the lien of the Mortgage, together with any other documents presented to it by the Master Servicer for such purposes or to evidence the cancellation of indebtedness, and the Trustee shall thereafter have no further responsibility with respect to said Mortgage File. Upon any such payment in full, the Master Servicer is authorized to procure from the trustee under the deed of trust which secured the Mortgage Note withNote, if any, a deed of full reconveyance covering the property encumbered by such deed of trust, or, as appropriatethe case may be, written evidence of cancellation thereon and to cause the removal procure from the registration on Trustee an instrument of satisfaction or, if the MERS(R) System Mortgagor so requests, an assignment without recourse, which deed of such Mortgage and to execute and deliverreconveyance, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments instrument of satisfaction or cancellation assignment shall be delivered by the Master Servicer to the Person or of partial or full releasePersons entitled thereto. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (MLCC Mortgage Investors Inc), Pooling and Servicing Agreement (MLCC Mort Inv Inc Mort Loan Asst Bk Pass Thru Cert Se 1997-A), Pooling and Servicing Agreement (MLCC Mortgage Investors Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer will shall immediately notify or cause to be notified the Trustee (if it holds the related Mortgage File) or the Custodian by a certification and shall deliver to the Trustee, in written or electronic format, which format is acceptable to the Custodian, two executed copies of a Servicing Officer Request for Release in the form of Exhibit E hereto (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 Custodial Collection Account pursuant to Section 3.07 3.10 have been or will be so deposited), substantially ) signed by a Servicing Officer (or in one of the forms attached hereto as Exhibit F, ora mutually agreeable electronic format that will, in the case lieu of the Custodiana signature on its face, an electronic originate from a Servicing Officer) and shall request in a form acceptable to the Custodian, requesting delivery to it or its designee of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall releaseshall, within three Business Days, release and send by overnight mail, at the expense of the Servicer or cause the Custodian to releaserelated Mortgagor, the related Mortgage File to the Master ServicerServicer or its designee. The Master Trustee agrees to indemnify the Servicer, 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) incurred by the Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien as a proximate result of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence Trustee's breach of cancellation thereon and its obligations pursuant to cause the removal from the registration on the 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 releasethis Section 3.17. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate Distribution Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff5), Pooling and Servicing Agreement (Financial Asset Securities Corp First Franklin Mortgage Loan Trust 2004-Ffh3), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ffh2)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, promptly release the related Mortgage File to the Master ServicerServicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the Servicer is authorized authorized, to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp), Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust Series 2003 Hs1), Pooling and Servicing Agreement (Ace Securities Corp)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit FH, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 releasethereon. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Residential Accredit Loans Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Accredit Loans Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, H requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 3 contracts
Samples: Custodial Agreement (RAMP Series 2005-Efc1 Trust), Custodial Agreement (RAMP Series 2005-Rs4 Trust), Custodial Agreement (RAMP Series 2005-Rs5 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds applicable Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the respective Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited)) and shall request that the applicable Custodian, substantially in one on behalf of the forms attached hereto as Exhibit FTrustee, or, in the case of the Custodian, an electronic request in a form acceptable deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee applicable Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within five (5) Business Days release the related Mortgage File to the Master ServicerServicer and the applicable Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the Servicer is authorized to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account, unless it shall represent a Servicing Advance.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl2 Asset Backed Pass-Through Certificates), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl3)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, G requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Custodial Agreement (Residential Asset Mortgage Products Inc), Custodial Agreement (Residential Asset Mortgage Products Inc)
Trustee to Cooperate; Release of Mortgage Files. (ab) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, G requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Mortgage File) or the Custodian Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited)) and shall request that the applicable Custodian, substantially in one on behalf of the forms attached hereto as Exhibit FTrustee, or, in the case of the Custodian, an electronic request in a form acceptable deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee related Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within five (5) Business Days release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders related Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such payment in full, the Servicer is authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or any assignment of themmortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, any and all instruments which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account, unless it shall represent a Servicing Advance.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap3)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or cause to be notified the Custodian by a certification and shall deliver to the Custodian, in written or electronic format, a Request for Release in the form of a Servicing Officer Exhibit E (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 Custodial Collection Account pursuant to Section 3.07 3.10 have been or will be so deposited), substantially ) signed by a Servicing Officer (or in one of the forms attached hereto as Exhibit F, ora mutually agreeable electronic format that will, in the case lieu of the Custodiana signature on its face, an electronic originate from a Servicing Officer) and shall request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and requestrequest and pursuant to the terms of the Custodial Agreement, the Trustee shall releaseCustodian shall, or cause within three Business Days, release and send by overnight mail, at the Custodian to releaseexpense of the Servicer, or, at the expense of the related mortgagor, the related Mortgage File to the Master Servicer. The Master Servicer and the Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of any such Mortgage Mortgage, if applicable, 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. The Trustee agrees to indemnify the Servicer, 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) incurred by the Servicer as a proximate result of the Trustee's breach of its obligations pursuant to this Section 3.17. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate Distribution Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pas THR Cert Ser 2003 WMC), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pas THR Cert Se 03 WMC)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, H or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 releasethereon. No expenses incurred in connection with any instrument of satisfaction 42 or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within three (3) Business Days release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such payment in full, the Servicer is authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or any assignment of themmortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, any and all instruments which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account, unless it shall represent a Servicing Advance.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (MortgageIT Securities Corp. Mortgage Loan Trust, Series 2007-2), Pooling and Servicing Agreement (MortgageIT Securities Corp. Mortgage Loan Trust, Series 2007-1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds applicable Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the respective Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited)) and shall request that the applicable Custodian, substantially in one on behalf of the forms attached hereto as Exhibit FTrustee, or, in the case of the Custodian, an electronic request in a form acceptable deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee applicable Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within five (5) Business Days release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such payment in full, the Servicer is authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or any assignment of themmortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, any and all instruments which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account, unless it shall represent a Servicing Advance.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He2), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He3)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to this Agreement as Exhibit E signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within three (3) Business Days release the related Mortgage File to the Master ServicerServicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the Servicer is authorized authorized, to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (SG Mortgage Securities Trust 2006-Fre1), Pooling and Servicing Agreement (Sg Mortgage Securities Trust 2006-Fre2)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master related Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master related Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of related Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, promptly release the related Mortgage File to the Master Servicerrelated Servicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the related Servicer is authorized authorized, to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp Terwin Mort Trust Series TMTS 2003 6he), Pooling and Servicing Agreement (Home Equity Loan Trust Series 2003-Nc1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within five (5) Business Days release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such payment in full, the Servicer is authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or any assignment of themmortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, any and all instruments which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp. Home Equity Loan Trust, Series 2006-Nc1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Op1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to this Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within five (5) Business Days release the related Mortgage File to the Master ServicerServicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the Servicer is authorized authorized, to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (SG Mortgage Securities Trust 2006-Opt2), Pooling and Servicing Agreement (SG Mortgage Securities Trust 2005-Opt1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of receipt of such certification and request, the Trustee shall release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Accredit Loans Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of the principal balance of any Mortgage Loan, or upon if the receipt by Trustee is holding the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposesMortgage Files, the Master Servicer will immediately shall notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification in the form of a Servicing Officer Exhibit E hereto (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 to the Custodial Collection Account pursuant to Section 3.07 3.02 74 80 have been or will be so deposited)) of a Servicing Officer. Such notification shall be made each month at the time that the Servicer delivers its Servicer Remittance Report to the Trustee pursuant to Section 4.01. Upon any such payment in full, substantially the Servicer is authorized to procure from such trustee under the Mortgage that secured the related Mortgage Note a deed of full reconveyance covering the related Mortgaged Property encumbered by such Mortgage, which deed, except as otherwise provided in one Section 2941(c) of the forms attached hereto as Exhibit FCalifornia Civil Code or other applicable law, shall be recorded by such trustee in the office of the County Recorder in which the Mortgage is recorded, or, as the case may be, to procure from such trustee an instrument of satisfaction or, if the related Mortgagor so requests, an assignment without recourse, in each case prepared by the Servicer at its expense and executed by the Trustee, which deed of reconveyance, instrument of satisfaction or assignment shall be delivered by the Servicer to the Person entitled thereto, it being understood and agreed that no expenses incurred in connection with such deed of reconveyance, assignment or instrument of satisfaction shall be reimbursed from amounts at the time on deposit in the case Collection or Certificate Account. From time to time and as appropriate for the servicing or foreclosure of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the any Mortgage File. Within two Business Days of receipt of such certification and requestLoan, the Trustee shall releaseshall, or cause upon written request of the Custodian Servicer and delivery to releasethe Trustee of a trust receipt signed by a Servicing Officer, release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to and shall execute and deliver such documents prepared by the Servicer as shall be necessary to the Mortgagor prosecution of any such proceedings. Such trust receipt shall obligate the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with Servicer to return the Mortgage Note with, as appropriate, written evidence of cancellation thereon and File to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and when the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance need therefor by the Servicer no longer exists unless the Mortgage Loan shall be chargeable liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that herein above specified, the trust receipt shall be released by the Trustee to the Custodial Account or the Certificate AccountServicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Aames Capital Acceptance Corp)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, within three (3) Business Days release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such payment in full, the Servicer is authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or any assignment of themmortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, any and all instruments which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate Collection Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2005-Ag1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will immediately promptly notify the Trustee (if it holds and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release (and shall include two copies) or the Custodian signed by a certification of a Servicing Officer (which certification or in a mutually agreeable electronic format that will, in lieu of a signature on its face, originate from a Servicing Officer) and 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 or an A/B Loan Pair Custodial Account Account, as applicable pursuant to Section 3.07 3.04, or remitted to the Master Servicer to enable such deposit, have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two six Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or Special Servicer notifies the Trustee of an exigency) of receipt of such certification notice and request, the Trustee (or, to the extent provided in Section 3.01(b), the Master Servicer or the Special Servicer, as applicable) shall releaseexecute such instruments of satisfaction, deeds of reconveyance and other documents as shall have been furnished to it by the Master Servicer or cause the Custodian to releaseSpecial Servicer, and the Trustee shall release and deliver the related Mortgage File to the Master Servicer or Special Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 releasecase may be. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate any A/B Loan Pair Custodial Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse Commercial Mortgage Trust Series 2006-C3)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify shall deliver to the Trustee (if it holds the related Mortgage File) or the Custodian by on its behalf), in written (with two executed copies) or electronic format, a certification Request for Release in the form of a Servicing Officer Exhibit E hereto (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 Custodial Collection Account pursuant to Section 3.07 3.10 have been or will be so deposited), substantially ) signed by a Servicing Officer (or in one of the forms attached hereto as Exhibit F, ora mutually agreeable electronic format that will, in the case lieu of the Custodiana signature on its face, an electronic originate from a Servicing Officer) and shall request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall release, (or cause the Custodian on behalf of the Trustee) shall (pursuant to releasethe terms of the Custodial Agreement), within three Business Days, release and send by overnight mail, the related Mortgage File to the Master Servicer. The Master Servicer and the Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) MERS® System of any such Mortgage and Loan, if applicable. The Trustee agrees to execute and deliverindemnify the Servicer, on behalf 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) incurred by the Servicer as a proximate result of the Trustee and the Certificateholders or any Trustee’s breach of themits obligations pursuant to this Section 3.17. Except as otherwise provided herein, any and all instruments of satisfaction or cancellation or of partial or full release. No no expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate Distribution Account.
Appears in 1 contract
Samples: Distribution Instructions (MASTR Asset Backed Securities Trust 2006-Am1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed made in a manner customary for such purposes, the Master Servicer will shall immediately notify the Trustee (if it the Trustee holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Collection Account pursuant to Section 3.07 5.08 have been or will be so deposited), substantially in one ) of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic a Servicing Officer and shall request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, within five Business Days the Trustee shall release, or cause the Custodian to release, release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to and execute and deliver to the Mortgagor Servicer the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument other instruments releasing the lien of the MortgageMortgage as have been provided by the Servicer to the Trustee, together with the Mortgage Note with, as appropriate, with written evidence of cancellation thereon thereon, and the Trustee shall have no further responsibility with respect to cause said Mortgage File. Upon any such payment in full, or the removal receipt of such notification, the Servicer is authorized to procure from the registration on Trustee under the 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. No expenses incurred in connection with any instrument of satisfaction or deed of trust which secured the Mortgage Note, if any, a deed of full reconveyance covering the property encumbered by such deed of trust, which assignment of deed of trust, except as otherwise provided by any applicable law, shall be chargeable to recorded by the Custodial Account or Servicer in the Certificate Account.appropriate land records in the jurisdiction in which the assignment of
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, G requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the 100 request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will immediately promptly notify the Trustee (if it holds and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release (and shall include two copies) or the Custodian signed by a certification of a Servicing Officer (which certification or in a mutually agreeable electronic format that will, in lieu of a signature on its face, originate from a Servicing Officer) and 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 or a Mortgage Loan Combination Custodial Account Account, as applicable pursuant to Section 3.07 3.04, or remitted to the Master Servicer to enable such deposit, have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two six Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or Special Servicer notifies the Trustee of an exigency) of receipt of such certification notice and request, the Trustee (or, to the extent provided in Section 3.01(b), the Master Servicer or the Special Servicer, as applicable) shall releaseexecute such instruments of satisfaction, deeds of reconveyance and other documents as shall have been furnished to it by the Master Servicer or cause the Custodian to releaseSpecial Servicer, and the Trustee shall release and deliver the related Mortgage File to the Master Servicer or Special Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 releasecase may be. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate any Mortgage Loan Combination Custodial Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse Commercial Mortgage Trust Series 2006-C2)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of receipt of such certification and request, the Trustee shall release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account. (b) From time to time as is appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer shall deliver to the Custodian, with a copy to the Trustee, a certificate of a Servicing Officer substantially in one of the forms attached as Exhibit F hereto, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting that possession of all, or any document constituting part of, the Mortgage File be released to the Master Servicer and certifying as to the reason for such release and that such release will not invalidate any insurance coverage provided in respect of the Mortgage Loan under any Required Insurance Policy. Upon receipt of the foregoing, the Trustee shall deliver, or cause the Custodian to deliver, the Mortgage File or any document therein to the Master Servicer. The Master Servicer shall cause each Mortgage File or any document therein so released to be returned to the Trustee, or the Custodian as agent for the Trustee when the need therefor by the Master Servicer no longer exists, unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or (ii) the Mortgage File or such document has been delivered directly or through a Subservicer 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 directly or through a Subservicer to the Trustee 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. In the event of the liquidation of a Mortgage Loan, the Trustee shall deliver the Request for Release with respect thereto to the Master Servicer upon deposit of the related Liquidation Proceeds in the Custodial Account. (c) The Trustee or the Master Servicer on the Trustee's behalf shall execute and deliver to the Master Servicer, if necessary, any court pleadings, requests for trustee's sale or other documents necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. Together with such documents or pleadings (if signed by the Trustee), the Master Servicer shall deliver to the Trustee a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate any insurance coverage under any Required Insurance Policy or 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. Section 3.16.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RALI Series 2006-Qa7 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit FG, or, in the case of the a Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(RMERS (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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2004-Ks10 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of the Principal Balance of any Mortgage LoanLoan (including the repurchase of any Mortgage Loan or any liquidation of such Mortgage Loan through foreclosure or otherwise), or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify shall deliver to the Trustee (if it holds a Master Servicer's Trust Receipt. Upon receipt of such Master Servicer's Trust Receipt, the Trustee shall promptly release the related Mortgage File, in trust to (i) the Master Servicer, (ii) an escrow agent or (iii) any employee, agent or attorney of the Trustee, in each case pending its release by the Master Servicer, such escrow agent or such employee, agent or attorney of the Trustee, as the case may be. Upon any such payment in full, or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of receipt of such certification and requestnotification that such funds have been placed in escrow, the Trustee shall release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note withgive, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of such Mortgage and to execute and deliver, on behalf of attorney-in-fact for the Trustee and the Certificateholders mortgagee under the Mortgage which secured the Credit Line Agreement, an instrument of satisfaction (or any assignment of themMortgage without recourse) regarding the Mortgaged Property relating to such Mortgage, any and all instruments which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No expenses payment in full, it being understood and agreed that no expense incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account Principal and Interest Account. In lieu of executing any such satisfaction or assignment, as the Certificate Accountcase may be, the Master Servicer may prepare and submit to the Trustee, a satisfaction (or assignment without recourse, if requested by the Person or Persons entitled thereto) in form for execution by the Trustee with all requisite information completed by the Master Servicer; in such event, the Trustee shall execute and acknowledge such satisfaction or assignment, as the case may be, and deliver the same with the related Mortgage File, as aforesaid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Advanta Revolving Home Equity Loan Trust 1996-A)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds Custodian on behalf of the related Mortgage File) or the Custodian Trustee, by a certification Request for Release in the form of a Servicing Officer Exhibit E (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 Custodial Collection Account pursuant to Section 3.07 3.10 have been or will be so deposited), substantially in one ) of a Servicing Officer and shall request that the Custodian on behalf of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery Trustee deliver to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian shall release, or cause the Custodian to release, promptly release the related Mortgage File to the Master Servicer (at no cost to the Servicer. The Master ), and the Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) MERS® System of any such Mortgage Mortgage, if applicable, 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. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate Distribution Account. The Custodian on behalf of the Trustee shall, at the written request and expense of any Certificateholder, provide a written report to such Certificateholder of all Mortgage Files released to the Servicer for servicing purposes.
Appears in 1 contract
Samples: Assignment and Recognition Agreement (MASTR Asset Backed Securities Trust 2006-He2)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will shall immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in 77 connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, H requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment or Liquidation Proceeds which are required to be deposited in the Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms form attached hereto as Exhibit F, or, in the case of the Custodian, an E (or acceptable electronic request in a form acceptable to the Custodian, notification) requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 releasethereon. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, G requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in 77 connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will shall immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, G requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RAMP Series 2005-Sp2 Trust)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, Loan or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Custodian and the Trustee (if it holds the related Mortgage File) or the Custodian by sending two copies of a request for release signed by a certification Servicing Officer in the form of Exhibit D hereto or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification request for release 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 Custodial Certificate Account pursuant to Section 3.07 have been or will be so deposited)deposited therein) and shall request delivery to the Master Servicer or a Sub-Servicer, substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodianmay be, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and requestrequest for release, the Trustee Custodian, pursuant to the terms of the Custodial Agreement, shall release, or cause the Custodian to release, promptly release the related Mortgage File to the Master Servicer. The Master Servicer is authorized to or a Sub-Servicer and execute and deliver to the Mortgagor Master Servicer, without recourse, the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the MortgageMortgage (furnished by the Master Servicer), together with the Mortgage Note with, as appropriate, with written evidence of cancellation thereon and to cause the removal from the registration on the 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 releasethereon. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003 -Abf1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trust Administrator, the Trustee (if it holds the related Mortgage File) or and the Custodian by a certification in the form of a Servicing Officer Exhibit 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 Custodial Collection Account pursuant to Section 3.07 3.10 have been or will be so deposited), substantially in one ) of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic a Servicing Officer and shall request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall release, (or cause the Custodian to release, on behalf of the Trustee) shall promptly release the related Mortgage File to the Master Servicer. The Master Servicer and the Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R) System of any such Mortgage and to execute and deliverMortgage, if applicable. In the event that the Trustee (or the Custodian on behalf of the Trustee Trustee) fails to release or cause to be released to the Servicer the related Mortgage File within five (5) Business Days of the Servicer's request therefore, the Depositor shall be liable to the Servicer for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full releaseServicer resulting from such failure. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate Distribution Account. The Trustee shall, at the written request and expense of any Certificateholder, provide a written report to such Certificateholder of all Mortgage Files released to the Servicer for servicing purposes.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Series 2004-Hyb1)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master related Servicer of a notification that payment in full will be has been escrowed in a manner customary for such purposespurposes for payment to Certificateholders on the next Distribution Date, the Master related Servicer will immediately notify promptly furnish to the Trustee (if it holds Custodian, on behalf of the related Mortgage File) or Trustee, two copies of a request for release substantially in the Custodian form attached to the Custodial Agreement signed by a certification Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which that are required to be deposited in the Custodial related Collection Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of ) and shall request that the Custodian, an electronic request in a form acceptable on behalf of the Trustee, deliver to the Custodian, requesting delivery to it of related Servicer the related Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee Custodian, on behalf of the Trustee, shall release, or cause the Custodian to release, promptly release the related Mortgage File to the Master Servicerrelated Servicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. The Master Upon any such payment in full, the related Servicer is authorized authorized, to execute and deliver to give, as agent for the Mortgagor Trustee, as the request for reconveyancemortgagee under the Mortgage that secured the Mortgage Loan, deed an instrument of reconveyance satisfaction (or release or satisfaction assignment of mortgage or such instrument releasing without recourse) regarding the lien of Mortgaged Property subject to the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 which instrument of satisfaction or cancellation assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of partial or full release. No such payment, it being understood and agreed that no expenses incurred in connection with any such instrument of satisfaction or deed of reconveyance assignment, as the case may be, shall be chargeable to the Custodial Account or the Certificate related Collection Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Hm Equity Ln Trust Ser 2003-He1)
Trustee to Cooperate; Release of Mortgage Files. (ab) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (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 Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, G requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as 91 appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Custodial Agreement (Residential Asset Mortgage Products Inc)
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will shall be escrowed in a manner customary for such purposes, the Master Servicer will immediately shall notify or cause to be notified the Trustee (if it holds the related Mortgage File) or the Custodian by a certification and shall deliver to the Trustee, in written or electronic format, which format is acceptable to the Custodian, two executed copies of a Servicing Officer Request for Release in the form of Exhibit E hereto (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 Custodial Collection Account pursuant to Section 3.07 3.10 have been or will be so deposited), substantially ) signed by a Servicing Officer (or in one of the forms attached hereto as Exhibit F, ora mutually agreeable electronic format that will, in the case lieu of the Custodiana signature on its face, an electronic originate from a Servicing Officer) and shall request in a form acceptable to the Custodian, requesting delivery to it or its designee of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall releaseshall, within three Business Days, release and send by overnight mail, at the expense of the Servicer or cause the Custodian to releaserelated Mortgagor, the related Mortgage File to the Master ServicerServicer or its designee. The Master Trustee agrees to indemnify the Servicer, 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) incurred by the Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien as a proximate result of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence Trustee's breach of cancellation thereon and its obligations pursuant to cause the removal from the registration on the 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 releasethis Section 3.17. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the Certificate Distribution Account.
Appears in 1 contract
Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment or Liquidation Proceeds which are required to be deposited in the Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms form attached hereto as Exhibit FE, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of Upon receipt of such certification and request, the Trustee shall promptly release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the 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 any applicable UCC termination statements. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
Appears in 1 contract
Samples: Custodial Agreement (RFMSII Series 2006-Hsa1 Trust)