Common use of Modification or Subordination of Mortgage Clause in Contracts

Modification or Subordination of Mortgage. The Originator has not done, and in the case of any Mortgage which the Originator purchased, no prior holder of any interest in such Mortgage has done, any of the following, except as may be necessary to reform the Mortgage documents for the purpose of correcting or conforming such Mortgage documents to accurately reflect the Mortgage transaction: (1) materially modified or waived any provision of the Mortgage; (2) satisfied or canceled the Mortgage in whole or in part; (3) subordinated the Mortgage in whole or in part; (4) released the Property in whole or in part from the Mortgage lien; or (5) signed any release, cancellation, modification or satisfaction of the Mortgage. The warranty set forth in this subsection (h) is not made to the extent that any of the actions or occurrences set forth above have been done and have been expressly consented to by the Bank in a writing signed and delivered by the Bank prior to the Bank’s purchase of the Mortgage.