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Exhibit 4.3
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CONVEYANCE AGREEMENT
Advanta Mortgage Corp. USA, Advanta Mortgage Corp.
Midatlantic, Advanta Mortgage Corp. Midatlantic II, Advanta Mortgage Corp.
Midwest, Advanta Mortgage Corp. Northeast, Advanta Finance Corp., Advanta Bank
Corp. and Advanta National Bank, (each, an "Affiliated Originator"), Advanta
Conduit Receivables, Inc., as an Affiliate, and Advanta Mortgage Conduit
Services, Inc., as Sponsor, pursuant to the Master Loan Transfer Agreement dated
as of May 1, 1999 among themselves and Bankers Trust Company of California, N.A.
as Trustee (the "Master Transfer Agreement"), hereby confirm their understanding
with respect to the conveyance by each Affiliated Originator, each Warehouse
Trust the Affiliate and the Sponsor of those Mortgage Loans listed on the
attached Schedule of Mortgage Loans (the "Transferred Mortgage Loans") to the
Sponsor.
Conveyance of Transferred Mortgage Loans. Each Affiliated
Originator, the Affiliate and the Sponsor, concurrently with the execution and
delivery of this Conveyance Agreement, does hereby irrevocably transfer, assign,
set over and otherwise convey, and does direct the Trustee to convey to the
Sponsor and/or the Advanta Mortgage Loan Trust, without recourse (except as
otherwise explicitly provided for herein) all of its right, title and interest
in and to the Transferred Mortgage Loans being conveyed by it, including
specifically, without limitation, the Mortgages (as such term is defined in the
"Advanta Pooling Agreement"), the Files and all other documents, materials and
properties appurtenant thereto and the Notes, including all accrued interest and
principal received by such Affiliated Originator on or with respect to such
Transferred Mortgage Loans on or after the related Cut-off Date, together with
all of its right, title and interest in and to the proceeds received on or after
the related Cut-off Date of any related Mortgage Insurance Policies.
If an Affiliated Originator cannot deliver the original
Mortgage or mortgage assignment with evidence of recording thereon concurrently
with the execution and delivery of this Conveyance Agreement solely because of a
delay caused by the public recording office where such original Mortgage or
mortgage assignment has been delivered for recordation, such Affiliated
Originator shall promptly deliver to the Trustee such original Mortgage or
mortgage assignment with evidence of recording indicated thereon upon receipt
thereof from the public recording official.
The costs relating to the delivery of the documents specified
in this Conveyance Agreement shall be borne by each Affiliated Originator.
The Affiliated Originators hereby make the Representations and
Warranties set forth in Section 5(b) of the Master Transfer Agreement with
respect to the Transferred Mortgage Loans.
The "Cut-off Date" with respect to such Transferred Mortgage
Loans shall be May 1, 1999.
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All terms and conditions of the Master Transfer Agreement are
hereby incorporated herein, provided that in the event of any conflict the
provisions of this Conveyance Agreement shall control over the conflicting
provisions of the Master Transfer Agreement.
For purposes of this Conveyance Agreement, the "Advanta
Pooling Agreement" is the Pooling and Servicing Agreement dated as of May 1,
1999 relating to Advanta Mortgage Loan Trust 1999-2.
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Dated: June 3, 1999
ADVANTA MORTGAGE CORP. USA
ADVANTA MORTGAGE CORP. MIDATLANTIC
ADVANTA MORTGAGE CORP. MIDATLANTIC II
ADVANTA MORTGAGE CORP. MIDWEST
ADVANTA MORTGAGE CORP. NORTHEAST
ADVANTA NATIONAL BANK,
as Affiliated Originators
and
ADVANTA CONDUIT RECEIVABLES, INC.,
as an Affiliate
By:/s/ Xxxxxxx Xxxx
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Name: Xxxxxxx Xxxx
Title: Vice President
ADVANTA MORTGAGE CONDUIT
SERVICES, INC., as Sponsor
By:/s/ Xxxxxxx Xxxx
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Name: Xxxxxxx Xxxx
Title: Vice President
ADVANTA FINANCE CORP.
By: /s/ Xxxxxxx Xxxx
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Name: Xxxxxxx Xxxx
Title: Vice President
ADVANTA BANK CORP.,
as an affiliated Originator
By:/s/ Xxxx X. Xxxxxxxx
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Name: Xxxx X. Xxxxxxxx
Title: President and CEO
Conveyance Agreement
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BANKERS TRUST COMPANY
OF CALIFORNIA, N.A., as Trustee
By: /s/ Xxxx XxXxxxx
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Name: Xxxx XxXxxxx
Title: Assistant Secretary
[Conveyance Agreement]
