Covenant 20

20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) ...
The Note a partial interest in the Note (together with this Security Instrument)

or

The Note Tangible (Personal Property) UCC 3 Security Instrument [Carpenter v. Longan - 83 U.S. 271] Mortgage follows the Note (Security Instrument follows the Note) Local Laws of Jurisdiction

Partial interest in the Note Payment Stream (Transferable Record) UCC 9

Lacks Supporting Law

MERS REGISTRY TRACKING

Sold To Investors

Note NOT Negotiated To Investors Negotiation in blank to be a Secured Party

Supporting Law

Lacks Supporting Law

GSEs Secured Noteholder with PETE by opinion of law whereas the GSE Investment Vehicle and the Security Instrument require the Certificateholders to be the owner of the Security Instrument, conflict of law. Fraud in the Concept! Caveat to Secured Noteholder, Perfection of Lien in Subsequent Indorsees name per laws of local jurisdiction.