The guaranty association is composed of all insurers licensed to sell property and casualty insurance in the state of Delaware.
Sub- Pool 1 consists of fixed rate mortgage loans and Sub-Pool 2 consists of adjustable rate mortgage loans. The Class 2A Certificates will have a variable pass-through rate. As provided herein, the Servicer will make an election that the segregated pool of assets subject to this Agreement, including the Mortgage Loans, be treated for federal income tax purposes as a "real estate mortgage investment conduit" a "REMIC".
The parties hereto agree as follows: All calculations of interest pursuant to this Agreement, unless otherwise specified, are based on a day year consisting of twelve day months.
With respect to the Class 1A-1 and Class 2A Certificates and with respect to any Remittance Date other than the July Remittance Date, the period commencing on the immediately preceding Remittance Date and ending on the day immediately preceding such Remittance Date.
With respect to the July Remittance Date, the period commencing on the Closing Date and ending on the day immediately preceding the July Remittance Date. As defined in Section With respect to any Person, any other Person controlling, controlled by or under common control with such Person.
For the purposes of this definition, "control" means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing.
This Pooling and Servicing Agreement and all amendments hereof and supplements hereto.
With respect to any Sub-Pool and as to any Remittance Date, the aggregate amount held in the Principal and Interest Account with respect lisa mizer lumbermans underwriting alliance such Sub-Pool on account of all Monthly Payments, or portions thereof, received in respect of scheduled principal and interest due after the Due Period related to such Remittance Date for application on the scheduled Due Date at the request of the Mortgagor.
As of each Remittance Date, with respect to each Mortgage Loan, an amount equal to one-twelfth of the product of 0.
The appraised value of the Mortgaged Property based upon the appraisal made by or for the originator at the time of the origination of the related Mortgage Loan, or the sales price of the Mortgaged Property lisa mizer lumbermans underwriting alliance the time of such origination, whichever is less.
With respect to any Mortgaged Property related to the Multifamily Loans and Sub-Pool 1 Mixed Use Loans, any assignment of leases, rents and profits or similar document or instrument executed by the related Mortgagor in connection with the origination of the related Multifamily Loan or Sub-Pool 1 Mixed Use Loan assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation, leasing or disposition of all or a portion of such Mortgaged Property.
With respect to each Mortgage Loan, an assignment of the Mortgage, notice of transfer or equivalent instrument sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect of record the sale of the Mortgage to the Trustee for the benefit of the Certificateholders.
With respect to any Sub-Pool and for a particular Remittance Date, the excess, if any, of the amount described in the definition of Class A Principal Remittance Amount without giving effect to clause a thereof over the amount described in the definition of Class A Principal Remittance Amount, after giving effect to clause a thereof.
With respect to each Sub-Pool and Remittance Date, the sum of the following: No amount included in the computation of the Available Remittance Amount with respect to any Remittance Date by virtue of being described by any component of the definition thereof shall be included more than once by virtue of also being described by any other component or otherwise.
Any Mortgage Loan that provided on the date of origination for an amortization schedule extending beyond its stated maturity date. With respect to any Balloon Mortgage Loan, as of any date of determination, the Monthly Payment payable on the stated maturity date of such Mortgage Loan.
Any day other than i a Saturday or Sunday, or ii a day on which banking institutions in the States of New York, Illinois or New Jersey are authorized or obligated by law or executive order to be closed; provided, however, that the Servicer shall provide the Trustee with a list of dates on which banking institutions in the State of New Jersey are authorized or obligated by law or executive order to be closed and such list shall be revised annually thereafter and delivered to the Trustee prior to the expiration of the most recent list provided.
Failure to provide such list shall not constitute an Event of Default; provided that the Trustee may rely on the most recently delivered list without further investigation. With respect to each Sub-Pool, as described in Section 6. The Person in whose name a Certificate is registered in the Certificate Register, except that, neither a Disqualified Organization nor a Non-United States Person shall be a Holder of a Class R Certificate for any purposes hereof and, solely for the purposes of giving any consent, waiver, request or demand pursuant to this Agreement, any Certificate registered in the name of the Depositor, the Servicer or any Subservicer, or registered in the name of any Person known to a Responsible Officer of the Trustee to be an Affiliate of any of them, shall be deemed not to be outstanding and the undivided Percentage Interest evidenced thereby shall not be taken into account in determining whether the requisite Percentage Interest of Certificates necessary to effect any such consent, waiver, request or demand has been obtained.
All references to "Holders" or "Certificateholders" shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and participating members thereof, except as otherwise specified herein; provided, however, that the Trustee shall be required to recognize as a "Holder" or "Certificateholder" only the Person in whose name a Certificate is registered in the Certificate Register.
The certificate guaranty surety bond, policy numberdated the Closing Date, issued by the Certificate Insurer for the benefit of the Holders of the Class A Certificates, pursuant to which the Certificate Insurer guarantees Insured Payments, a copy of which is attached hereto as Exhibit O.
With respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Certificate as reflected on the books of the Depository or on the books of a Person maintaining an account with the Depository directly or as an indirect participant, in accordance with the rules of the Depository.
As defined in Section 4. Initially, the Trustee, and thereafter, any successor appointed pursuant to Section 4. A Certificate denominated as a Class 1A-1 Certificate. A Certificate denominated as a Class 1A-2 Certificate.
A Certificate denominated as a Class 1A-3 Certificate. A Certificate denominated as a Class 1A-4 Certificate.9 records for Michael Gulbrandson. Find Michael Gulbrandson's phone, address, and email on Spokeo, the leading online directory Related To Frances Gulbrandson, Ivie Gulbrandson, Charles Gulbrandson, Erica Gulbrandson, Lisa Gulbrandson.
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