Enforceability of Late Charges and Default Interest
The enforceability of late charges and default interest may depend on the law in the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). jurisdiction. The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must determine, based on the facts and circumstances of any transaction and their legal counsel's advice, whether any such charges are enforceable in the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). jurisdiction prior to making demand.