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Assignment, Assumption and Recognition Agreement

 

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Title:

Assignment, Assumption and Recognition Agreement

Entities:

Citigroup Global Markets Realty Corp.; Luminent Mortgage Trust 2006-6; Federal National Mortgage Association

Date:

2006

Size:

Preview shows 4KB of 31KB total

Price:

$36

ID:

#2568117

 

 

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                ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT


This Assignment, Assumption and Recognition Agreement (this "AAR
Agreement") is made and entered into as of August 15, 2006 (the "Closing Date"),
among Citigroup Global Markets Realty Corp., (the "Assignor"), Maia Mortgage
Finance Statutory Trust (the "Assignee") and Countrywide Home Loans, Inc. (the
"Company").

For and in consideration of the sum of good and valuable consideration
the receipt and sufficiency of which is hereby acknowledged, and of the mutual
covenants herein contained, the parties hereto hereby agree as follows:

Assignment and Conveyance

1. The Assignor hereby conveys, sells, grants, transfers and assigns
to the Assignee all of the right, title, interest and obligation of the
Assignor, as purchaser, in, to and under (a) those certain Mortgage Loans set
forth on the schedule (the "Mortgage Loan Schedule") attached hereto as
Attachment 1 (the "Mortgage Loans") and (b) except as described below, that
certain Amended and Restated Master Mortgage Loan Purchase and Servicing
Agreement dated as of December 15, 2003, between the Assignor, as purchaser and
the Company, as seller, as amended by Amendment Reg AB, dated as of February 28,
2006 between the Assignor and the Company (the "Agreement"), solely insofar as
the Agreement relates to the Mortgage Loans.

The Assignor specifically reserves and does not assign to the Assignee
hereunder any right, title and interest in, to and under and any mortgage loans
subject to the Agreement which are not the Mortgage Loans set forth on
Attachment 1 and are not the subject of this AAR Agreement. In addition, the
Assignor specifically reserves and does not assign, the right to enforce the
representations and warranties set forth in Section 3.02 of the Agreement, and
the corresponding remedies set forth in Section 3.03 of the Agreement.

Representations and Warranties

2. Assignor warrants and represents to Assignee and Company as of the
Closing Date:

(a) Attached hereto as Attachment 2 is a true and accurate copy of the
Agreement, which Agreement is in full force and effect as of the Closing
Date and the provisions of which have not been waived, amended or modified
in any respect, except as contemplated herein, nor has any notice of
termination been given thereunder;

(b) Assignor is the lawful owner of the Mortgage Loans with full right
to transfer the Mortgage Loans and any and all of its interests, rights and
obligations under the Agreement free and clear of any and all claims and
encumbrances; and upon the transfer of the Mortgage Loans to Assignee,
Assignee shall have good title to the Mortgage Loans free and clear of any
and all liens, claims and encumbrances;

{PAGE}

(c) Assignor is duly organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation, and has all
requisite power and authority to sell, transfer and assign the Mortgage
Loans;

(d) Assignor has full corporate power and authority to execute,
deliver and perform its obligations under this AAR Agreement, and to
consummate the transactions set forth herein. The consummation of the
transactions contemplated by this AAR Agreement is in the ordinary course
of Assignor's business and will not conflict with, or result in a breach
of, any of the terms, conditions or provisions of Assignor's certificate of
incorporation or by-laws or any legal restriction, or any material
agreement or instrument to which Assignor is now a party or by which it is
bound, or result in the violation of any law, rule, regulation, order,
judgment or decree to which Assignor or its property is subject. The

 

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