Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. (a) The Master Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Mortgage Note for a period not greater than 180 days; provided, however, that the Master Servicer cannot extend the maturity of any such Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date. In the event of any such arrangement, the Master Servicer shall make Advances on the related Mortgage Loan in accordance with the provisions of Section 4.1 during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Master Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Supplemental Loan Account; Capitalized Interest Account; Corridor Contract Reserve Fund.........................................................................III-3 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts..................III-7 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans.........III-8 SECTION 3.08. Permitted Withdrawals from the Certificate Account, the Rounding Account; Corridor Contract Reserve Fund and the Distribution Account..........................III-8 SECTION 3.09. Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies..........III-10 SECTION 3.10. Enforcement of Due-on-Sale Clauses; Assumption Agreements...........................III-12 SECTION 3.11. Realization Upon Defaulted Mortgage Loans; Repurchase of Certain Mortgage Loans.....III-13 SECTION 3.12. Trustee to Cooperate; Release of Mortgage Files.....................................III-16 SECTION 3.13. Documents, Records and Funds in Possession of Master Servicer to be Held for the Trustee.............................................................................III-16 SECTION 3.14. Servicing Compensation..............................................................III-17 SECTION 3.15. Access to Certain Documentation.....................................................III-17 SECTION 3.16. Annual Statement as to Compliance...................................................III-17 SECTION 3.17. Annual Independent Public Accountants' Servicing Statement; Financial Statements....III-18 SECTION 3.18. Errors and Omissions Insurance; Fidelity Bonds......................................III-18 SECTION 3.19. The Corridor Contract...............................................................III-18
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. (a) In accordance with and to the extent of the Servicing Standard, the Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the Mortgage Loans to the extent the procedures are consistent with this Agreement and any related Required Insurance Policy. Consistent with the foregoing, the Servicer may in its discretion (i) subject to Section 3.21, waive any Late Payment Fee or, subject to Section 3.20, any Prepayment Charge in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Delinquent Mortgage Loan for a period not greater than 125 days. In connection with a seriously delinquent or defaulted Mortgage Loan, the Servicer may, consistent with the Servicing Standard, waive, modify or vary any term of that Mortgage Loan (including modifications that change the Mortgage Rate, forgive the payment of principal or interest or extend the final maturity date of that Mortgage Loan ), accept payment from the related Mortgagor of an amount less than the Stated Principal Balance in final satisfaction of that Mortgage Loan, or consent to the postponement of strict compliance with any such term or otherwise grant indulgence to any Mortgagor if in the Servicer's determination such waiver, modification, postponement or indulgence is not materially adverse to the interests of the Certificateholders (taking into account any estimated loss that might result absent such action) and is expected to minimize the loss on such Mortgage Loan; provided, however, the Servicer shall not initiate new lending to such Mortgagor through the Trust and cannot, except as provided in the immediately succeeding sentence, extend the maturity of any Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date. With respect to no more than 5% of the Mortgage Loans (measured by aggregate Cut-off Date Principal Balance of the Mortgage Loans), the Servicer may extend the maturity of a Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date, but in no event more than one year past such date. In the event of any such arrangement, the Servicer shall make Advances on the related Mortgage Loan in accordance with Section 4.01 during the scheduled period in accordance with the amortization schedule of the Mortgage L...
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account the Pre-funding Account the Capitalized Interest Account; the Supplemental Interest Trust and the Corridor Contract Reserve Fund; the Principal Reserve Fund.
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. (a) In accordance with and to the extent of the Servicing Standard, the Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the Mortgage Loans to the extent the procedures are consistent with this Agreement and any related Required Insurance Policy. Consistent with the foregoing, the Servicer may in its discretion (i) subject to Section 3.21, waive any Late Payment Fee or, to the extent provided in Section 3.20, waive any Prepayment Charge in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Delinquent Mortgage Loan for a period not greater than 125
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Supplemental Loan Account; Capitalized Interest Account; Corridor Contract Reserve Fund.................................................65 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts..............................................70 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans.................................70 SECTION 3.08. Permitted Withdrawals from the Certificate Account, the Distribution Account and the Corridor Contract Reserve Fund.........................................................71 SECTION 3.09. Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies...........................................73 SECTION 3.10. Enforcement of Due-on-Sale Clauses; Assumption Agreements...................................................74 SECTION 3.11. Realization Upon Defaulted Mortgage Loans; Repurchase of Certain Mortgage Loans.......................................76 SECTION 3.12. Trustee to Cooperate; Release of Mortgage Files..............79
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Pre-Funding Account; Capitalized Interest Account; Carryover Shortfall Reserve Fund. 61 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts. 65 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans. 66
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Carryover Reserve Fund; Principal Reserve Fund; and Supplemental Interest Trust...51 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts...............56 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans......57
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Pre-Funding Account;
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Class A-4 Reserve Fund; Pre-Funding Account;
