Common use of Acceptance of Mortgage Loans Clause in Contracts

Acceptance of Mortgage Loans. Prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrow, for examination, the Mortgage Loan Documents pertaining to each Mortgage Loan then being sold by it or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be included in each Mortgage File (as such term has been defined in the Pooling and Servicing Agreement) are so included. Prior to the Closing Date, the Custodian shall review the documents delivered pursuant to Section 3(c) hereof to ascertain that, as to each Mortgage Loan listed on Schedule I, (i) all documents required to be delivered by SFM pursuant to Section 3(c) have been received, (ii) such documents appear regular on their face and relate to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Mortgage File, to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review shall be conducted by the Custodian or its designee prior to the first anniversary of the Closing Date to determine that all Mortgage Loan Documents required to be included in the Mortgage File are included therein. If at any time SAXON or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided herein.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Sale and Servicing Agreement, the Indenture Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON Date an acknowledgment of receipt of the original Mortgage Note or its designee in escrow, for examination, the Mortgage Loan Documents pertaining Agreement with respect to each Mortgage Loan then being sold by (with any exceptions noted) and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available supplements thereto, as well as any other assets included in the definition of Trust Estate in the Indenture and delivered to SAXON or its designee the Indenture Trustee, as Indenture Trustee in trust upon and subject to the conditions set forth in the Indenture and Sale and Servicing Agreement for examination at SFM’s offices or at such other place as SFM shall specifythe benefit of the Securityholders and the Enhancer. SAXONPursuant to the Sale and Servicing Agreement, the Custodian, Indenture Trustee has agreed to review (or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required cause to be included in reviewed) each Mortgage File (as such term has been defined in the Pooling and Servicing Agreement) are so included. Prior to within 120 days after the Closing DateDate (or, with respect to any Eligible Substitute Mortgage Loan, within 120 days after the Custodian shall review receipt by the documents delivered pursuant Indenture Trustee thereof) to Section 3(c) hereof to ascertain that, as to each Mortgage Loan listed on Schedule I, determine that (i) all documents required to be delivered by SFM to it hereunder and pursuant to Section 3(c) have been receivedthe Sale and Servicing Agreement are in its possession, and relate to the Mortgages identified on the Mortgage Loan Schedule and (ii) each such documents appear document has been reviewed by it, has been executed to the extent required, and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Mortgage File, to the extent required by Section 2.1 of the Pooling Loan. The Sale and Servicing Agreement. An additional review Agreement provides that the Indenture Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all Mortgage Loan Documents required they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be included in the Mortgage File are included therein. If at any time SAXON or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinon their face.

Acceptance of Mortgage Loans. Prior to the Closing Date, SFM the Seller shall either (i) deliver to SAXON the Purchaser or its designee in escrow, for examination, the Mortgage Loan Documents pertaining to each Mortgage Loan then being sold by it Loan, or (ii) make such Mortgage Loan Documents available to SAXON the Purchaser or its designee for examination at SFM’s the Seller's offices or at such other place as SFM the Seller shall specify. SAXONThe Purchaser, the CustodianTrustee, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be included in each Trustee Mortgage Loan File (as such term has been defined in the Pooling and Servicing Agreement) are so included. Prior to the Closing Date, the Custodian Trustee or its designee shall review the documents delivered pursuant to Section 3(c) hereof to ascertain that, as to each Mortgage Loan listed on in [Schedule I], (i) all documents required to be delivered by SFM the Seller pursuant to Section 3(c) have been received, (ii) such documents appear regular on their face and relate to such Mortgage Loan Loan, and (iii) the information on the Mortgage Loans set forth in [Schedule I I] accurately reflects the information set forth in the corresponding Trustee Mortgage Loan File, to the extent required by Section 2.1 ___ of the Pooling and Servicing Agreement. An additional review shall be conducted by the Custodian Trustee or its designee prior to the first anniversary of the Closing Date to determine that all Mortgage Loan Documents required to be included in the Trustee Mortgage Loan File are included therein. If at any time SAXON the Purchaser or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM the Seller shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage LoanLoans, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 __ hereof. At the time of such repurchase or substitution, the Custodian Trustee shall release documents in its possession relating to such Mortgage Loan to SFMthe Seller. The fact that SAXONthe Purchaser, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON the Purchaser (or any assignee or successor thereof) to demand repurchase or other relief as provided herein.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowany Subsequent Transfer Date, an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Trustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 30 days after the Closing Date or the Subsequent Transfer Date, as applicable (or, with respect to any Qualified Substitute Mortgage Loan, within 30 days after the Custodian shall review receipt by the documents delivered pursuant Trustee thereof), and to Section 3(c) hereof deliver to ascertain the Unaffiliated Seller, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c) have been receivedthe Pooling and Servicing Agreement are in its possession, (ii) each such documents appear document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the Mortgage Loan Schedule I accurately reflects the information set forth in the corresponding Trustee's Mortgage File, File delivered on such date. Pursuant to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by under no duty or obligation to inspect, review or examine any such documents, instruments, certificates or other papers to determine that they are genuine, enforceable, or appropriate for the Custodian represented purpose or its designee prior that they are other than what they purport to be on their face. Pursuant to the first anniversary Pooling and Servicing Agreement, within 90 days of the Closing Date Date, with respect to determine that all the Initial Mortgage Loan Documents required to be included in Loans, and within 90 days of the Mortgage File are included therein. If at any time SAXON or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect Subsequent Transfer Date, with respect to any related Subsequent Mortgage Loans, the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Unaffiliated Seller, the initial Certificateholders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered to it pursuant to the Pooling and Servicing Agreement are in its possession, (ii) each such document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on its face and relates to such Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs and (iii) based on its examination and only as to the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitutionforegoing documents, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of information set forth on the Mortgage Loan Documents prior to Schedule accurately reflects the Closing Date shall not affect information set forth in the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinTrustee's Mortgage File delivered on such date.

Acceptance of Mortgage Loans. Prior to the Closing Date, SFM the Seller shall either (i) deliver to SAXON the Purchaser or its designee in escrow, for examination, the Mortgage Loan Documents pertaining to each Mortgage Loan then being sold by it Loan, or (ii) make such Mortgage Loan Documents available to SAXON the Purchaser or its designee for examination at SFM’s the Seller's offices or at such other place as SFM the Seller shall specify. SAXONThe Purchaser, the CustodianTrustee, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be included in each Trustee Mortgage Loan File (as such term has been defined in the Pooling and Servicing Agreement) are so included. Prior to the Closing Date, the Custodian Trustee or its designee shall review the documents delivered pursuant to Section 3(c) hereof to ascertain that, as to each Mortgage Loan listed on in Schedule I, (i) all documents required to be delivered by SFM the Seller pursuant to Section 3(c) have been received, (ii) such documents appear regular on their face and relate to such Mortgage Loan Loan, and (iii) the information on the Mortgage Loans set forth in Schedule I accurately reflects the information set forth in the corresponding Trustee Mortgage Loan File, to the extent required by Section 2.1 ___ of the Pooling and Servicing Agreement. An additional review shall be conducted by the Custodian Trustee or its designee prior to the first anniversary of the Closing Date to determine that all Mortgage Loan Documents required to be included in the Trustee Mortgage Loan File are included therein. If at any time SAXON the Purchaser or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM the Seller shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage LoanLoans, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian Trustee shall release documents in its possession relating to such Mortgage Loan to SFMthe Seller. The fact that SAXONthe Purchaser, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON the Purchaser (or any assignee or successor thereof) to demand repurchase or other relief as provided herein.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowDate an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Closing DateTrustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Custodian shall Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 45 Business Days after the documents delivered pursuant Closing Date (or, with respect to Section 3(cany Qualified Substitute Mortgage Loan, within 45 Business Days after the receipt by the Trustee thereof) hereof and to ascertain deliver to the initial Certificateholders, the Seller, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c) have been receivedthe Pooling and Servicing Agreement are in its possession, and (ii) each such documents appear regular on their face and relate to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Mortgage Filedocument has been reviewed by it, has been, to the extent required required, executed, and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by Section 2.1 of the Mortgagor), appears regular on its face and relates to such Mortgage Loan. Pursuant to the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be on their face. Pursuant to the Pooling and Servicing Agreement, by December 6, 1996 the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Seller, the initial Certificateholders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan Documents listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), and as to any document noted in an exception included in the Trustee's initial certification, (i) all documents required to be included delivered to it hereunder and pursuant to the Pooling and Servicing Agreement are in its possession, and (ii) each such document has been reviewed by it, has been, to the Mortgage File are included therein. If at any time SAXON extent required, executed, and has not been mutilated, damaged, torn or the Trustee otherwise physically altered (handwritten additions, changes or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM corrections shall correct or cure any such omission or defect or, not constitute physical alteration if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted initialled by the terms of Section 7 hereof. At the time of such repurchase or substitutionMortgagor), the Custodian shall release documents in appears regular on its possession relating face and relates to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinLoan.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowany Subsequent Transfer Date, an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Trustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 30 days after the Closing Date or the Subsequent Transfer Date, as applicable (or, with respect to any Qualified Substitute Mortgage Loan, within 30 days after the Custodian shall review receipt by the documents delivered pursuant Trustee thereof), and to Section 3(c) hereof deliver to ascertain the Unaffiliated Seller, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c) have been receivedthe Pooling and Servicing Agreement are in its possession, (ii) each such documents appear document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the Mortgage Loan Schedule I accurately reflects the information set forth in the corresponding Trustee's Mortgage File, File delivered on such date. The Pursuant to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all Mortgage Loan Documents required they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be included in on their face. Pursuant to the Pooling and Servicing Agreement, by December 29, 1997, with respect to the Initial Mortgage File are included therein. If at any time SAXON or Loans, and within 90 days of the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect Subsequent Transfer Date, with respect to any related Subsequent Transfer Date, the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Unaffiliated Seller, the initial Certificateholders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered to it pursuant to the Pooling and Servicing Agreement are in its possession, (ii) each such document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on its face and relates to such Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs and (iii) based on its examination and only as to the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitutionforegoing documents, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of information set forth on the Mortgage Loan Documents prior to Schedule accurately reflects the Closing Date shall not affect information set forth in the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinTrustee's Mortgage File delivered on such date.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Sale and Servicing Agreement, the Indenture Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON Date an acknowledgment of receipt of the original Mortgage Note or its designee in escrow, for examination, the Mortgage Loan Documents pertaining Agreement with respect to each Mortgage Loan then being sold by (with any exceptions noted) and declares that it will hold such documents and any amendments, replacements or (ii) make such supplements thereto, as well as any other assets included in the definition of Trust Estate in the Indenture and delivered to the Indenture Trustee, as Indenture Trustee in trust upon and subject to the conditions set forth in the Indenture and Sale and Servicing Agreement for the benefit of the Securityholders and, as it relates to the Group I Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such other place as SFM shall specify. SAXONLoans, the CustodianEnhancer. Pursuant to the Sale and Servicing Agreement, the Indenture Trustee has agreed to review (or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required cause to be included in reviewed) each Mortgage File (as such term has been defined in the Pooling and Servicing Agreement) are so included. Prior to within 120 days after the Closing DateDate (or, with respect to any Eligible Substitute Mortgage Loan, within 120 days after the Custodian shall review receipt by the documents delivered pursuant Indenture Trustee thereof) to Section 3(c) hereof to ascertain that, as to each Mortgage Loan listed on Schedule I, determine that (i) all documents required to be delivered by SFM to it hereunder and pursuant to Section 3(c) have been receivedthe Sale and Servicing Agreement are in its possession, and relate to the Mortgages identified on the Mortgage Loan Schedule and (ii) each such documents appear document has been reviewed by it, has been executed to the extent required, and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Mortgage File, to the extent required by Section 2.1 of the Pooling Loan. The Sale and Servicing Agreement. An additional review Agreement provides that the Indenture Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all Mortgage Loan Documents required they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be included in the Mortgage File are included therein. If at any time SAXON or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinon their face.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowany Subsequent Transfer Date, an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Trustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 30 days after the Closing Date or the Subsequent Transfer Date, as applicable (or, with respect to any Qualified Substitute Mortgage Loan, within 30 days after the Custodian shall review receipt by the documents delivered pursuant Trustee thereof), and to Section 3(c) hereof deliver to ascertain the Unaffiliated Seller, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c) have been receivedthe Pooling and Servicing Agreement are in its possession, (ii) each such documents appear document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the Mortgage Loan Schedule I accurately reflects the information set forth in the corresponding Trustee's Mortgage File, File delivered on such date. Pursuant to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all Mortgage Loan Documents required they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be included in on their face. Pursuant to the Pooling and Servicing Agreement, by June 30, 1997, with respect to the Initial Mortgage File are included therein. If at any time SAXON or Loans, and within 90 days of the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect Subsequent Transfer Date, with respect to any related Subsequent Transfer Date, the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Unaffiliated Seller, the initial Certificate- holders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered to it pursuant to the Pooling and Servicing Agreement are in its possession, (ii) each such document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by the Mortgagor), appears regular on its face and relates to such Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs and (iii) based on its examination and only as to the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitutionforegoing documents, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of information set forth on the Mortgage Loan Documents prior to Schedule accurately reflects the Closing Date shall not affect information set forth in the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinTrustee's Mortgage File delivered on such date.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Sale and Servicing Agreement, the Indenture Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON Date an acknowledgment of receipt of the original Mortgage Note or its designee in escrow, for examination, the Mortgage Loan Documents pertaining Agreement with respect to each Mortgage Loan then being sold by (with any exceptions noted) and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available supplements thereto, as well as any other assets included in the definition of Trust Estate in the Indenture and delivered to SAXON or its designee the Indenture Trustee, as Indenture Trustee in trust upon and subject to the conditions set forth in the Indenture and Sale and Servicing Agreement for examination at SFM’s offices or at such other place as SFM shall specifythe benefit of the Securityholders. SAXONPursuant to the Sale and Servicing Agreement, the Custodian, Indenture Trustee has agreed to review (or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required cause to be included in reviewed) each Mortgage File (as such term has been defined in the Pooling and Servicing Agreement) are so included. Prior to within 120 days after the Closing Date or Subsequent Transfer Date, as applicable (or, with respect to any Eligible Substitute Mortgage Loan, within 120 days after the Custodian shall review receipt by the documents delivered pursuant Indenture Trustee thereof) to Section 3(c) hereof to ascertain that, as to each Mortgage Loan listed on Schedule I, determine that (i) all documents required to be delivered by SFM to it hereunder, pursuant to Section 3(c) have been receivedthe Purchase and Sale Agreement and pursuant to the Sale and Servicing Agreement are in its possession, and (ii) each such documents appear document has been reviewed by it, has been executed to the extent required, and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Mortgage File, to the extent required by Section 2.1 of the Pooling Loan. The Sale and Servicing Agreement. An additional review Agreement provides that the Indenture Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all Mortgage Loan Documents required they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be included in the Mortgage File are included therein. If at any time SAXON or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinon their face.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowDate an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Closing DateTrustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Custodian shall Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 45 Business Days after the documents delivered pursuant Closing Date (or, with respect to Section 3(cany Qualified Substitute Mortgage Loan, within 45 Business Days after the receipt by the Trustee thereof) hereof and to ascertain deliver to the initial Certificateholders, the Purchaser, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it hereunder, pursuant to Section 3(c) have been received, (ii) such documents appear regular on their face the Purchase and relate Sale Agreement and pursuant to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Mortgage File, to the extent required by Section 2.1 of the Pooling and Servicing AgreementAgreement are in its possession, and (ii) each such document has been reviewed by it, has been executed to the extent required, and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by the Mortgagor), appears regular on its face and relates to such Mortgage Loan. An additional review The Pooling and Servicing Agreement provides that the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be on their face. The Pooling and Servicing Agreement also provides that, by December 6, 1996, the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Purchaser, the initial Certificateholders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan Documents listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), and as to any document noted in an exception included in the Trustee's initial certification, (i) all documents required to be included delivered to it hereunder and in the Mortgage File Purchase and Sale Agreement and pursuant to the Pooling and Servicing Agreement are included therein. If at any time SAXON in its possession, and (ii) each such document has been reviewed by it, has been executed to the extent required, and has not been mutilated, damaged, torn or the Trustee otherwise physically altered (handwritten additions, changes or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM corrections shall correct or cure any such omission or defect or, not constitute physical alteration if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted initialled by the terms of Section 7 hereof. At the time of such repurchase or substitutionMortgagor), the Custodian shall release documents in appears regular on its possession relating face and relates to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinLoan.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowany Subsequent Transfer Date, an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Trustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 30 days after the Closing Date or the Subsequent Transfer Date, as applicable (or, with respect to any Qualified Substitute Mortgage Loan, within 30 days after the Custodian shall review receipt by the documents delivered pursuant Trustee thereof), and to Section 3(c) hereof deliver to ascertain the Unaffiliated Seller, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c) have been receivedthe Pooling and Servicing Agreement are in its possession, (ii) each such documents appear document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initiated by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the Mortgage Loan Schedule I accurately reflects the information set forth in the corresponding Trustee's Mortgage File, File delivered on such date. Pursuant to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by under no duty or obligation to inspect, review or examine any such documents, instruments, certificates or other papers to determine that they are genuine, enforceable, or appropriate for the Custodian represented purpose or its designee prior that they are other than what they purport to be on their face. Pursuant to the first anniversary Pooling and Servicing Agreement, within 90 days of the Closing Date Date, with respect to determine that all the Initial Mortgage Loan Documents required to be included in Loans, and within 90 days of the Mortgage File are included therein. If at any time SAXON or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect Subsequent Transfer Date, with respect to any related Subsequent Mortgage Loans, the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Unaffiliated Seller, the initial Certificateholders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered to it pursuant to the Pooling and Servicing Agreement are in its possession, (ii) each such document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on its face and relates to such Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs and (iii) based on its examination and only as to the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitutionforegoing documents, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of information set forth on the Mortgage Loan Documents prior to Schedule accurately reflects the Closing Date shall not affect information set forth in the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinTrustee's Mortgage File delivered on such date.

Acceptance of Mortgage Loans. Prior to the Closing Date, SFM SMI shall either (i) deliver to SAXON Saxon or its designee in escrow, for examination, the Mortgage Loan Documents pertaining to each Mortgage Loan then being sold by it or (ii) make such Mortgage Loan Documents available to SAXON Saxon or its designee for examination at SFM’s SMI's offices or at such other place as SFM SMI shall specify. SAXONSaxon, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be included in each Trustee Mortgage Loan File (as such term has been defined in the Pooling and Servicing Trust Agreement) are so included. Prior to the Closing Date, the Custodian shall review the documents delivered pursuant to Section 3(c) hereof to ascertain that, as to each Mortgage Loan listed on Schedule I, (i) all documents required to be delivered by SFM SMI pursuant to Section 3(c) have been received, (ii) such documents appear regular on their face and relate to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Trustee Mortgage Loan File, to the extent required by Section 2.1 2.02 of the Pooling and Servicing AgreementStandard Terms. An additional review shall be conducted by the Custodian or its designee prior to the first anniversary of the Closing Date to determine that all Mortgage Loan Documents required to be included in the Trustee Mortgage Loan File are included therein. If at any time SAXON Saxon or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM SMI shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Qualified Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFMSMI. The fact that SAXONSaxon, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON Saxon (or any assignee or successor thereof) to demand repurchase or other relief as provided herein.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrow, for examinationDate an acknowledgment of receipt of each Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit D to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Closing DateTrustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the [Certificate Insurer]. Pursuant to the Pooling and Servicing Agreement, the Custodian shall Trustee has agreed, for the benefit of the Certificateholders and the [Certificate Insurer], to review (or cause to be reviewed) each Trustee's Mortgage File within 30 days after the documents delivered pursuant Closing Date (or, with respect to Section 3(cany Subsequent Mortgage Loan or Qualified Substitute Mortgage Loan, within 30 days after the receipt by the Trustee thereof) hereof and to ascertain deliver to the initial Certificateholders, the Seller, the Servicer and the [Certificate Insurer] a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c2.3(a)(i) have been receivedof the Pooling and Servicing Agreement are in its possession, (ii) each such documents appear document has been reviewed by it, has been, to the extent required, executed and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the Mortgage Loan Schedule I accurately reflects the information set forth in the corresponding Trustee's Mortgage File, File delivered on such date. Pursuant to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all Mortgage Loan Documents required they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be included in the Mortgage File are included therein. If at any time SAXON or the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinon their face.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowDate an acknowledgment of receipt of, for examinationeach Mortgage Loan, the Mortgage Loan Documents pertaining items listed in Section 2.04(a)-(e) above with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E-1 to the Pooling and Servicing Agreement, and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Closing DateTrustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Custodian shall Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 15 days after the documents delivered pursuant Closing Date (or, with respect to Section 3(cany Qualified Substitute Mortgage Loan, within 15 days after the receipt by the Trustee thereof) hereof and to ascertain deliver to the initial Certificateholders, the Unaffiliated Seller, the Master Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit E-2 to the effect that, as to each Mortgage Loan listed on in the related Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to the Pooling and Servicing Agreement are in its possession (other than those described in Section 3(c2.04(f) have been receivedthereto), (ii) each such documents appear document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule I (other than items (ii), (iii), (v), (vii), (ix) and (xii) of the definition of Mortgage Loan Schedule) accurately reflects the information set forth in the corresponding Trustee's Mortgage File, File delivered on such date. Pursuant to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all Mortgage Loan Documents required they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be included in on their face. Pursuant to the Mortgage File are included therein. If at any time SAXON or Pooling and Servicing Agreement, within 360 days after the Trustee (or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitution, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXONClosing Date, the Trustee shall be required to deliver (or cause to be delivered) to the Master Servicer, the Unaffiliated Seller, the initial Certificateholders and the Certificate Insurer a designee of either entity has conducted or has failed final certification in the form attached to conduct any partial or complete examination the Pooling and Servicing Agreement as Exhibit E-3 evidencing the completeness of the Trustee's Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinFiles.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowDate and each Subsequent Transfer Date an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Closing DateTrustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Custodian shall Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 45 Business Days after the documents delivered pursuant Closing Date (or, with respect to Section 3(cany Qualified Substitute Mortgage Loan or Subsequent Mortgage Loan, within 45 Business Days after the receipt by the Trustee thereof) hereof and to ascertain deliver to the initial Certificateholders, the Seller, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c) have been receivedthe Pooling and Servicing Agreement are in its possession, and (ii) each such documents appear regular on their face and relate to such Mortgage Loan and (iii) the information on Schedule I accurately reflects the information set forth in the corresponding Mortgage Filedocument has been reviewed by it, has been, to the extent required required, executed, and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by Section 2.1 of the Mortgagor), appears regular on its face and relates to such Mortgage Loan. Pursuant to the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be on their face. Pursuant to the Pooling and Servicing Agreement, by October 15, 1997 the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Seller, the initial Certificateholders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan Documents listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), and as to any document noted in an exception included in the Trustee's initial certification, (i) all documents required to be included delivered to it hereunder and pursuant to the Pooling and Servicing Agreement are in its possession, and (ii) each such document has been reviewed by it, has been, to the Mortgage File are included therein. If at any time SAXON extent required, executed, and has not been mutilated, damaged, torn or the Trustee otherwise physically altered (handwritten additions, changes or its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, SFM corrections shall correct or cure any such omission or defect or, not constitute physical alteration if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted initialled by the terms of Section 7 hereof. At the time of such repurchase or substitutionMortgagor), the Custodian shall release documents in appears regular on its possession relating face and relates to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinLoan.

Acceptance of Mortgage Loans. Prior (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date, SFM shall either (i) deliver to SAXON or its designee in escrowDate an acknowledgment of receipt of, for examinationeach Mortgage Loan, the original Mortgage Loan Documents pertaining Note with respect to each Mortgage Loan then being sold by (with any exceptions noted), in the form attached as Exhibit E to the Pooling and Servicing Agreement and declares that it will hold such documents and any amendments, replacements or (ii) make such Mortgage Loan Documents available to SAXON or its designee for examination at SFM’s offices or at such supplements thereto, as well as any other place as SFM shall specify. SAXON, the Custodian, or a designee of either entity may review the Mortgage Loan Documents to verify that all documents required to be assets included in each Mortgage File (as such term has been defined the definition of Trust Fund in the Pooling and Servicing Agreement) are so included. Prior Agreement and delivered to the Closing DateTrustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Custodian shall Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 30 days after the documents delivered pursuant Closing Date (or, with respect to Section 3(cany Qualified Substitute Mortgage Loan, within 30 days after the receipt by the Trustee thereof) hereof and to ascertain deliver to the initial Certificateholders, the Unaffiliated Seller, the Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit F to the effect that, as to each Mortgage Loan listed on in the Mortgage Loan Schedule I(other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered by SFM to it pursuant to Section 3(c) have been receivedthe Pooling and Servicing Agreement are in its possession, (ii) each such documents appear document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by the Mortgagor), appears regular on their its face and relate relates to such Mortgage Loan Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the Mortgage Loan Schedule I accurately reflects the information set forth in the corresponding Trustee's Mortgage File, File delivered on such date. Pursuant to the extent required by Section 2.1 of the Pooling and Servicing Agreement. An additional review , the Trustee shall be conducted by the Custodian under no duty or its designee prior obligation to the first anniversary of the Closing Date inspect, review or examine any such documents, instruments, certificates or other papers to determine that all they are genuine, enforceable, or appropriate for the represented purpose or that they are other than what they purport to be on their face. Pursuant to the Pooling and Servicing Agreement, within 270 days after the Closing Date, the Trustee shall be required to deliver (or cause to be delivered) to the Servicer, the Unaffiliated Seller, the initial Certificateholders and the Certificate Insurer a final certification in the form attached to the Pooling and Servicing Agreement as Exhibit G to the effect that, as to each Mortgage Loan Documents listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be included delivered to it pursuant to the Pooling and Servicing Agreement are in its possession, (ii) each such document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialled by the Mortgage File are included therein. If at any time SAXON or the Trustee (or Mortgagor), appears regular on its Custodian) discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect face and relates to any such Mortgage Loan, SFM shall correct or cure any such omission or defect or, if such omission or defect materially impairs and (iii) based on its examination and only as to the value of the Mortgage Loan, repurchase the defective Mortgage Loan or substitute for such defective Mortgage Loan a Substitute Mortgage Loan in accordance with and if permitted by the terms of Section 7 hereof. At the time of such repurchase or substitutionforegoing documents, the Custodian shall release documents in its possession relating to such Mortgage Loan to SFM. The fact that SAXON, the Trustee or a designee of either entity has conducted or has failed to conduct any partial or complete examination of information set forth on the Mortgage Loan Documents prior to Schedule accurately reflects the Closing Date shall not affect information set forth in the rights of SAXON (or any assignee or successor thereof) to demand repurchase or other relief as provided hereinTrustee's Mortgage File delivered on such date.