ASP.NET MVC customError page doesn't get displayed for some of the 400 errors

I'm having quite an interesting issue with the custom error pages management for a new ASP.NET MVC application.

This issue is like this:
- if I'm calling an URL (doesn't matter which) with a "bad" argument at the end of URL, like ..../c<, the application is displaying the correct server error page as instructed in the web.config;
- if I'm changing the URL to a more nasty one, like .../<c (to look more like an HTML tag, there is no more server error page displayed in the browser and instead of that, I'm getting a plain YSOD with a message like An exception occurred while processing your request. Additionally, another exception occurred while executing the custom error page for the first exception. The request has been terminated.

According to ELMAH, both requests ended with a 400 status code and the message being:
- for the first one: System.Web.HttpException (0x80004005): A potentially dangerous Request.Path value was detected from the client (<). at System.Web.HttpRequest.ValidateInputIfRequiredByConfig() at System.Web.HttpApplication.PipelineStepManager.ValidateHelper(HttpContext context)
- for the second one: System.Web.HttpException (0x80004005): A potentially dangerous Request.Path value was detected from the client (<). at System.Web.HttpRequest.ValidateInputIfRequiredByConfig() at System.Web.HttpApplication.PipelineStepManager.ValidateHelper(HttpContext context)

So, both errors are the same, the status code is the same, but for one of the errors, the custom error page is not getting displayed. I've also went to global.asax in debug mode and checked the Server.GetLastError() in protected void Application_Error(object sender, EventArgs e) and again, both errors were the same, nothing is different.

In web.config, this is how my <customErrors> tag looks like:

<customErrors mode="On" defaultRedirect="/ServerError.aspx" redirectMode="ResponseRewrite"> <error statusCode="500" redirect="/ServerError.aspx" /> <error statusCode="404" redirect="/PageNotFound.aspx" /> </customErrors>

Can please someone tell me why the behavior is different in these two cases?

Thank you very much for your time.