Common use of Trustee under Deed of Trust Clause in Contracts

Trustee under Deed of Trust. If the Mortgage for any Mortgage Loan is a deed of trust, then (a) a trustee, duly qualified under applicable law to serve as such, has either been properly designated and currently so serves or may be substituted in accordance with the Mortgage and applicable law, and (b) no fees or expenses are payable to such trustee by the Seller, the Depositor or any transferee thereof except for such fees and expenses (all of which are the obligation of the related Borrower under the related Mortgage Loan Documents) as would be payable in connection with a trustee's sale after default by the related Borrower or in connection with any full or partial release of the related Mortgaged Property or related security for such Mortgage Loan.

Trustee under Deed of Trust. If In the case of each Mortgage for any Loan, as of the date of origination, and, to the Seller’s knowledge, as of the Closing Date, if the related Mortgage Loan is a deed of trust, then (ai) a trustee, duly qualified under applicable law to serve as such, has either been properly designated and currently so serves serving under such Mortgage or may be substituted in accordance with the Mortgage and applicable law, law and (bii) no fees or expenses are payable to such trustee by the Seller, the Depositor Purchaser or any transferee thereof except for such fees and expenses (all of which are the obligation of the related Borrower under the related Mortgage Loan Documents) as would be payable in connection with a trustee's ’s sale after default by the related Borrower Mortgagor or in connection with any full or partial release of the related Mortgaged Property or related security for such the related Mortgage Loan.

Trustee under Deed of Trust. If the Mortgage for any Mortgage Loan is a deed of trust, then (a) a trustee, duly qualified under applicable law to serve as such, has either been properly designated and currently so serves or may be substituted in accordance with the Mortgage and applicable law, and (b) no fees or expenses are payable to such trustee by the Seller, the Depositor Additional Party, the Purchaser or any transferee thereof except for such fees and expenses (all of which are the obligation of the related Borrower under the related Mortgage Loan Documents) as would be payable in connection with a trustee's sale after default by the related Borrower or in connection with any full or partial release of the related Mortgaged Property or related security for such Mortgage Loan.