Common use of Mortgage Loan Clause in Contracts

Mortgage Loan. Except with the written permission of the Master Servicer, no modification, recast, extension, or capitalization of delinquent payments of a Mortgage Loan shall be permitted. Where applicable, the Servicer must satisfy all requirements under the applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted with respect to a delinquent Mortgage Loan, including, without limitation, securing the prior written consent of the respective Qualified Insurer regarding any change in any term of such Mortgage Loan, the release of the related Mortgagor from any liability related to such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance of such Mortgage Loan and (b) the amount paid by the Mortgagor. The Servicer shall be entitled to reimbursement for such advances to the same extent as for all other advances made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward to the Master Servicer copies of any documents evidencing such assumption, modification, consolidation or extension. In servicing and administering the Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreement, and the Owner's reliance on the Servicer.

Mortgage Loan. Except The Seller shall promptly reimburse the Master Servicer and the Trustee for any expenses reasonably incurred by the Master Servicer or the Trustee in respect of enforcing the remedies for the breach. With respect to any Substitute Mortgage Loan or Loans, the Seller shall deliver to the Trustee for the benefit of the Certificateholders the Mortgage Note, the Mortgage, the related assignment of the Mortgage, and such other documents and agreements as are required by Section 2.01, with the written permission of Mortgage Note endorsed and the Master Servicer, no modification, recast, extension, or capitalization of delinquent payments of a Mortgage Loan shall assigned as required by Section 2.01. No substitution is permitted to be permittedmade in any calendar month after the Determination Date for such month. Where applicable, the Servicer must satisfy all requirements under the applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted Scheduled Payments due with respect to a delinquent Substitute Mortgage Loan, including, without limitation, securing Loans in the prior written consent month of substitution shall not be part of the respective Qualified Insurer regarding any change in any term Trust Fund and will be retained by the Seller on the next succeeding Distribution Date. For the month of such Mortgage Loansubstitution, distributions to Certificateholders will include the release of the related Mortgagor from any liability related to such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments monthly payment due on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Deleted Mortgage Loan Remittance Rate on for such month and thereafter the unpaid principal balance of such Mortgage Loan and (b) the amount paid by the Mortgagor. The Servicer Seller shall be entitled to reimbursement retain all amounts received in respect of such Deleted Mortgage Loan. The Master Servicer shall amend the Mortgage Loan Schedule for such advances the benefit of the Certificateholders to reflect the removal of the Deleted Mortgage Loan and the substitution of the Substitute Mortgage Loans and the Master Servicer shall deliver the amended Mortgage Loan Schedule to the same extent Trustee. Upon the substitution, the Substitute Mortgage Loans shall be subject to this Agreement in all respects, and the Seller shall be deemed to have made with respect to the Substitute Mortgage Loans, as for all other advances of the date of substitution, the representations and warranties made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, 2.03(b) with respect to the Mortgage Loan. Upon any substitution and the deposit to the Certificate Account of the amount required to be deposited therein in connection with the substitution as described in the following paragraph, the Trustee shall release the Mortgage File held for the benefit of the Certificateholders relating to the Deleted Mortgage Loan to the Seller and shall execute and deliver at the Seller's direction such instruments of transfer or assignment prepared by the Seller, in each case without recourse, as shall be necessary to vest title in the Seller, or its designee, the Trustee's interest in any Deleted Mortgage Loan substituted for pursuant to this Section 2.03. For any month in which the Seller substitutes one or more Substitute Mortgage Loans for one or more Deleted Mortgage Loans, the Master Servicer will determine the amount (if any) by which the aggregate principal balance of all such Substitute Mortgage Loans as of the date of substitution is less than the aggregate Stated Principal Balance of all such Deleted Mortgage Loans (after application of the scheduled principal portion of the monthly payments due in the month of substitution). The amount of such shortage (the "Substitution Adjustment Amount") plus, if the Seller is not the Master Servicer, an amount equal to the aggregate of any unreimbursed Advances and Servicer Advances with respect to such Deleted Mortgage Loans shall be deposited into the Mortgaged PropertiesCertificate Account by the Seller by the Distribution Account Deposit Date for the Distribution Date in the month succeeding the calendar month during which the related Mortgage Loan became required to be purchased or replaced hereunder. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Seller repurchases a Mortgage Loan, but the Purchase Price therefor shall be deposited in no event later than the Reporting Certificate Account pursuant to Section 3.06 by the Distribution Account Deposit Date for the Distribution Date in the month following the date month during which the Seller became obligated hereunder to repurchase or replace the Mortgage Loan and upon such deposit of execution of such instrumentthe Purchase Price, the Servicer shall forward to delivery of the Master Servicer copies Opinion of any documents evidencing such assumption, modification, consolidation or extension. In servicing Counsel required by Section 2.05 and administering receipt of a Request for Release in the Mortgage Loansform of Exhibit N, the Servicer Trustee shall employ procedures (including collection procedures) and exercise release the same care that it customarily employs and exercises in servicing and administering mortgage loans related Mortgage File held for its own account, giving due consideration the benefit of the Certificateholders to Accepted Servicing Practices where such practices do not conflict with the requirements of this AgreementPerson, and the OwnerTrustee shall execute and deliver at such Person's reliance direction such instruments of transfer or assignment prepared by such Person, in each case without recourse, as shall be necessary to transfer title from the Trustee. The obligation under this Agreement of any Person to cure, repurchase, or replace any Mortgage Loan as to which a breach has occurred and is continuing shall constitute the sole remedy against the Person respecting the breach available to Certificateholders, the Depositor, or the Trustee on their behalf. The representations and warranties made pursuant to this Section 2.03 shall survive delivery of the Servicerrespective Mortgage Files to the Trustee for the benefit of the Certificateholders.

Mortgage Loan. Except The Seller shall promptly reimburse the Master Servicer and the Trustee for any expenses reasonably incurred by the Master Servicer or the Trustee in respect of enforcing the remedies for the breach. With respect to any Substitute Mortgage Loan or Loans, the Seller shall deliver to the Trustee for the benefit of the Certificateholders the Mortgage Note, the Mortgage, the related assignment of the Mortgage, and such other documents and agreements as are required by Section 2.01, with the written permission of Mortgage Note endorsed and the Master Servicer, no modification, recast, extension, or capitalization of delinquent payments of a Mortgage Loan shall assigned as required by Section 2.01. No substitution is permitted to be permittedmade in any calendar month after the Determination Date for such month. Where applicable, the Servicer must satisfy all requirements under the applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted Scheduled Payments due with respect to a delinquent Substitute Mortgage Loan, including, without limitation, securing Loans in the prior written consent month of substitution shall not be part of the respective Qualified Insurer regarding any change in any term Trust Fund and will be retained by the Seller on the next succeeding Distribution Date. For the month of such Mortgage Loansubstitution, distributions to Certificateholders will include the release of the related Mortgagor from any liability related to such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments monthly payment due on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Deleted Mortgage Loan Remittance Rate on for such month and thereafter the unpaid principal balance of such Mortgage Loan and (b) the amount paid by the Mortgagor. The Servicer Seller shall be entitled to reimbursement retain all amounts received in respect of such Deleted Mortgage Loan. The Master Servicer shall amend the Mortgage Loan Schedule for such advances the benefit of the Certificateholders to reflect the removal of the Deleted Mortgage Loan and the substitution of the Substitute Mortgage Loans and the Master Servicer shall deliver the amended Mortgage Loan Schedule to the same extent Trustee. Upon the substitution, the Substitute Mortgage Loans shall be subject to this Agreement in all respects, and the Seller shall be deemed to have made with respect to the Substitute Mortgage Loans, as for all other advances of the date of substitution, the representations and warranties made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, 2.03(b) with respect to the Mortgage Loan. Upon any substitution and the deposit to the Certificate Account of the amount required to be deposited therein in connection with the substitution as described in the following paragraph, the Trustee shall release the Mortgage File held for the benefit of the Certificateholders relating to the Deleted Mortgage Loan to the Seller and shall execute and deliver at the Seller's direction such instruments of transfer or assignment prepared by the Seller, in each case without recourse, as shall be necessary to vest title in the Seller, or its designee, the Trustee's interest in any Deleted Mortgage Loan substituted for pursuant to this Section 2.03. For any month in which the Seller substitutes one or more Substitute Mortgage Loans for one or more Deleted Mortgage Loans, the Master Servicer will determine the amount (if any) by which the aggregate principal balance of all such Substitute Mortgage Loans as of the date of substitution is less than the aggregate Stated Principal Balance of all such Deleted Mortgage Loans (after application of the scheduled principal portion of the monthly payments due in the month of substitution). The amount of such shortage and interest thereon (the "Substitution Adjustment Amount") plus, if the Seller is not the Master Servicer, an amount equal to the aggregate of any unreimbursed Advances and Servicer Advances with respect to such Deleted Mortgage Loans shall be deposited into the Mortgaged PropertiesCertificate Account by the Seller by the Distribution Account Deposit Date for the Distribution Date in the month succeeding the calendar month during which the related Mortgage Loan became required to be purchased or replaced hereunder. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Seller repurchases a Mortgage Loan, but the Purchase Price therefor shall be deposited in no event later than the Reporting Certificate Account pursuant to Section 3.06 by the Distribution Account Deposit Date for the Distribution Date in the month following the date month during which the Seller became obligated hereunder to repurchase or replace the Mortgage Loan and upon such deposit of execution of such instrumentthe Purchase Price, the Servicer shall forward to delivery of the Master Servicer copies Opinion of any documents evidencing such assumption, modification, consolidation or extension. In servicing Counsel required by Section 2.05 and administering receipt of a Request for Release in the Mortgage Loansform of Exhibit N, the Servicer Trustee shall employ procedures (including collection procedures) and exercise release the same care that it customarily employs and exercises in servicing and administering mortgage loans related Mortgage File held for its own account, giving due consideration the benefit of the Certificateholders to Accepted Servicing Practices where such practices do not conflict with the requirements of this AgreementPerson, and the OwnerTrustee shall execute and deliver at such Person's reliance direction such instruments of transfer or assignment prepared by such Person, in each case without recourse, as shall be necessary to transfer title from the Trustee. The obligation under this Agreement of any Person to cure, repurchase, or replace any Mortgage Loan as to which a breach has occurred and is continuing shall constitute the sole remedy against the Person respecting the breach available to Certificateholders, the Depositor, or the Trustee on their behalf. The representations and warranties made pursuant to this Section 2.03 shall survive delivery of the Servicerrespective Mortgage Files to the Trustee for the benefit of the Certificateholders.

Mortgage Loan. Except Upon any such substitution and the deposit to the Certificate Account of the amount required to be deposited therein in connection with such substitution as described in the written permission following paragraph, the Co-Trustee shall release to the Representing Party the Mortgage File relating to such Deleted Mortgage Loan and held for the benefit of the Certificateholders and shall execute and deliver at the Master Servicer's direction such instruments of transfer or assignment as have been prepared by the Master Servicer, no modificationin each case without recourse, recast, extensionas shall be necessary to vest in the applicable Seller, or capitalization of delinquent payments of a its respective designee, title to the Trustee's interest in any Deleted Mortgage Loan shall be permittedsubstituted for pursuant to this Section 2.03. Where applicable, the Servicer must satisfy all requirements under the applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted with respect to a delinquent Mortgage Loan, including, without limitation, securing the prior written consent of the respective Qualified Insurer regarding any change in any term of such Mortgage Loan, the release of the related Mortgagor from any liability related to such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in For any month in which any such principal Seller substitutes one or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03more Replacement Mortgage Loans for one or more Deleted Mortgage Loans, the difference between Master Servicer will determine the amount (aif any) such month's principal and one month's interest at by which the Mortgage Loan Remittance Rate on the unpaid aggregate principal balance of all such Replacement Mortgage Loans as of the date of substitution is less than the Stated Principal Balance (after application of the principal portion of the Scheduled Payment due in the month of substitution) of all such Deleted Mortgage Loans. An amount equal to the aggregate of the deficiencies described in the preceding sentence (such amount, the "Substitution Adjustment Amount") shall be forwarded by the applicable Seller to the Master Servicer and deposited by the Master Servicer into the Certificate Account not later than the Determination Date for the Distribution Date relating to the Prepayment Period during which the related Mortgage Loan and (b) became required to be purchased or replaced hereunder. In the amount paid by event that a Seller shall have repurchased a Mortgage Loan, the Mortgagor. The Servicer Purchase Price therefor shall be entitled to reimbursement for such advances to deposited in the same extent as for all other advances made Certificate Account pursuant to Section 5.03. Without limiting 3.05 on the generality of Determination Date for the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Distribution Date in the month following the date month during which such Seller became obligated to repurchase or replace such Mortgage Loan and upon such deposit of execution of such instrumentthe Purchase Price, the Servicer shall forward to delivery of the Master Servicer copies Opinion of any documents evidencing such assumptionCounsel required by Section 2.05, modification, consolidation or extension. In servicing and administering the Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreementif any, and the Ownerreceipt of a Request for File Release, the Co-Trustee shall release the related Mortgage File held for the benefit of the Certificateholders to such Seller, and the Trustee shall execute and deliver at such Person's reliance on direction the Servicerrelated instruments of transfer or assignment prepared by such Seller, in each case without recourse, as shall be necessary to transfer title from the Trustee for the benefit of the Certificateholders and transfer the Trustee's interest to such Seller to any Mortgage Loan purchased pursuant to this Section 2.03. It is understood and agreed that the obligation under this Agreement of the Sellers to cure, repurchase or replace any Mortgage Loan as to which a breach has occurred and is continuing shall constitute the sole remedy against the Sellers respecting such breach available to Certificateholders, the Depositor or the Trustee.

Mortgage Loan. Except The Trustee shall be under no duty or obligation to inspect, review or examine said documents, instruments, certificates or other papers to determine that the same are genuine, enforceable or appropriate for the represented purpose or that they have actually been recorded in the real estate records or that they are other than what they purport to be on their face. On or about the thirtieth (30th) day after the Closing Date, the Trustee shall deliver to the Depositor, the Master Servicer and the Seller a Delay Delivery Certification with respect to the written permission Initial Mortgage Loans in the form annexed hereto as Exhibit G, with any applicable exceptions noted thereon. Not later than 90 days after the Closing Date, the Trustee shall deliver to the Depositor, the Master Servicer and the Seller a Final Certification with respect to the Initial Mortgage Loans in the form annexed hereto as Exhibit H, with any applicable exceptions noted thereon. If, in the course of such review, the Trustee finds any document constituting a part of a Mortgage File which does not meet the requirements of Section 2.01, the Trustee shall list such as an exception in the Final Certification; provided, however that the Trustee shall not make any determination as to whether (i) any endorsement is sufficient to transfer all right, title and interest of the Master Servicerparty so endorsing, no modificationas noteholder or assignee thereof, recastin and to that Mortgage Note or (ii) any assignment is in recordable form or is sufficient to effect the assignment of and transfer to the assignee thereof under the mortgage to which the assignment relates. The Seller shall promptly correct or cure such defect within 90 days from the date it was so notified of such defect and, extensionif the Seller does not correct or cure such defect within such period, the Seller shall either (a) substitute for the related Mortgage Loan a Substitute Mortgage Loan, which substitution shall be accomplished in the manner and subject to the conditions set forth in Section 2.03, or capitalization (b) purchase such Mortgage Loan from the Trustee within 90 days from the date the Seller was notified of delinquent payments such defect in writing at the Purchase Price of such Mortgage Loan; provided, however, that in no event shall such substitution or purchase occur more than 540 days from the Closing Date, except that if the substitution or purchase of a Mortgage Loan shall be permitted. Where applicablepursuant to this provision is required by reason of a delay in delivery of any documents by the appropriate recording office, and there is a dispute between either the Master Servicer must satisfy all requirements under or the applicable PMI Policy and/or any applicable LPMI Policy regarding Seller and the relief granted with respect to a delinquent Mortgage Loan, including, without limitation, securing Trustee over the prior written consent location or status of the respective Qualified Insurer regarding any change in any term recorded document, then such substitution or purchase shall occur within 720 days from the Closing Date. The Trustee shall deliver written notice to each Rating Agency within 270 days from the Closing Date indicating each Mortgage Loan (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage Loan, the release of . Such notice shall be delivered every 90 days thereafter until the related Mortgagor from any liability related Mortgage Loan is returned to the Trustee. Any such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between substitution pursuant to (a) above or purchase pursuant to (b) above shall not be effected prior to the delivery to the Trustee of the Opinion of Counsel required by Section 2.05 hereof, if any, and any substitution pursuant to (a) above shall not be effected prior to the additional delivery to the Trustee of a Request for Release substantially in the form of Exhibit N. No substitution is permitted to be made in any calendar month after the Determination Date for such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance of . The Purchase Price for any such Mortgage Loan and (b) the amount paid shall be deposited by the Mortgagor. The Servicer shall be entitled to reimbursement for such advances Seller in the Certificate Account on or prior to the same extent as Distribution Account Deposit Date for all other advances made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Distribution Date in the month following the date month of execution repurchase and, upon receipt of such instrumentdeposit and certification with respect thereto in the form of Exhibit N hereto, the Servicer Trustee shall forward release the related Mortgage File to the Seller and shall execute and deliver at the Seller's request such instruments of transfer or assignment prepared by the Seller, in each case without recourse, as shall be necessary to vest in the Seller, or a designee, the Trustee's interest in any Mortgage Loan released pursuant hereto. If pursuant to the foregoing provisions the Seller repurchases an Initial Mortgage Loan that is a MERS Mortgage Loan, the Master Servicer copies shall either (i) cause MERS to execute and deliver an assignment of any documents evidencing such assumption, modification, consolidation or extension. In servicing and administering the Mortgage Loans, in recordable form to transfer the Servicer Mortgage from MERS to the Seller and shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration cause such Mortgage to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreement, and the Owner's reliance be removed from registration on the ServicerMERS(R) System in accordance with MERS' rules and regulations or (ii) cause MERS to designate on the MERS(R) System the Seller as the beneficial holder of such Mortgage Loan.

Mortgage Loan. Except with Subject to the written permission of the Master Servicer, no modification, recast, extension, or capitalization of delinquent payments of a Mortgage Loan shall be permitted. Where applicableforegoing, the Servicer must satisfy all requirements is authorized to take or enter into an assumption agreement from or with the Person to whom such property is about to be conveyed, pursuant to which such person becomes liable under the related Mortgage Note and, unless prohibited by applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted with respect to a delinquent Mortgage Loan, including, without limitation, securing the prior written consent of the respective Qualified Insurer regarding any change in any term of such Mortgage Loanstate law, the Mortgagor remains liable thereon. The Servicer is also authorized, to release of the related original Mortgagor from any liability related to such upon the Mortgage Loan, or Loan and substitute the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgagenew Mortgagor as obligor thereon. In the event of any modification permitted hereunder which permits the deferral of interest connection with such assumption or principal payments on any Mortgage Loansubstitution, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any shall apply such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) underwriting standards and follow such month's principal practices and one month's interest at procedures as shall be normal and usual for mortgage loans similar to the Mortgage Loan Remittance Rate on the unpaid principal balance of such Mortgage Loan Loans and (b) the amount paid as it applies to mortgage loans owned solely by the Mortgagorit. The Servicer shall notify the Trustee that any such assumption or substitution agreement has been completed by forwarding to the Trustee the original copy of such assumption or substitution agreement, which copy shall be entitled added by the Trustee to reimbursement the related Mortgage File and shall, for all purposes, be considered a part of such advances Mortgage File to the same extent as for all other advances made pursuant to Section 5.03documents and instruments constituting a part thereof. Without limiting In connection with any such assumption or substitution agreement, the generality Mortgage Interest Rate of the foregoingrelated Mortgage Note, the payment terms and other material terms shall not be changed. Any fee collected by the Servicer for entering into an assumption or substitution of liability agreement will be retained by the Servicer as servicing compensation. Notwithstanding the foregoing paragraph or any other provision of this Agreement, the Servicer shall continuenot be deemed to be in default, and is hereby authorized and empowered, to execute and deliver on behalf breach or any other violation of itself and its obligations hereunder by reason of any conveyance by the Owner, all instruments Mortgagor of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect the property subject to the Mortgage Loans and with respect or any assumption of a Mortgage Loan by operation of law which the Servicer in good faith determines it may be restricted by law from preventing, for any reason whatsoever, or if the exercise of such right would impair or threaten to impair any recovery under any applicable insurance policy or, in the Mortgaged Properties. If Servicer's judgment, be reasonably required likely to result in legal action by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward to the Master Servicer copies of any documents evidencing such assumption, modification, consolidation or extension. In servicing and administering the Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreement, and the Owner's reliance on the ServicerMortgagor.

Mortgage Loan. Except with the written permission of the Master Servicer, no modification, recast, extension, or capitalization of delinquent payments of a Mortgage Loan shall be permitted. Where applicable, the Servicer must satisfy all requirements under the applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted with respect to a delinquent Mortgage Loan, including, without limitation, securing the prior written consent of the respective Qualified Insurer regarding any change in any term of such Mortgage Loan, the release of the related Mortgagor from any liability related to such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance of such Mortgage Loan and (b) the amount paid by the Mortgagor. The Servicer shall be entitled to reimbursement for such advances to the same extent as for all other advances made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, Trustee agrees to execute and deliver on behalf of itself within 30 days after the Closing Date to the Depositor, the Master Servicer and the OwnerSeller an Interim Certification substantially in the form annexed hereto as Exhibit G-2 to the effect that, as to each Initial Mortgage Loan listed in the Mortgage Loan Schedule (other than any Initial Mortgage Loan paid in full or any Initial Mortgage Loan specifically identified in such certification as not covered by such certification), all instruments documents required to be delivered to it pursuant to this Agreement with respect to such Initial Mortgage Loan are in its possession (except those described in Section 2.01(g)(vi)) and based on its review and examination and only as to the foregoing documents, (i) such documents appear regular on their face and relate to such Initial Mortgage Loan, and (ii) the information set forth in items (i), (iv), (v), (vi), (viii), (xi) and (xiv) of satisfaction the definition of the "Mortgage Loan Schedule" accurately reflects information set forth in the Mortgage File. On or cancellationbefore the thirtieth (30th) day after the Closing Date (or if such thirtieth day is not a Business Day, or of partial or full releasethe succeeding Business Day), discharge the Trustee shall deliver to the Depositor, the Master Servicer and all other comparable instruments, the Seller a Delay Delivery Certification with respect to the Initial Mortgage Loans substantially in the form annexed hereto as Exhibit G-3, with any applicable exceptions noted thereon. The Trustee shall be under no duty or obligation to inspect, review or examine such documents, instruments, certificates or other papers to determine that the same are genuine, enforceable or appropriate for the represented purpose or that they have actually been recorded in the real estate records or that they are other than what they purport to be on their face. Not later than 180 days after the Closing Date, the Trustee shall deliver to the Depositor, the Master Servicer and the Seller (and to any Certificateholder that so requests) a Final Certification with respect to the Mortgaged PropertiesInitial Mortgage Loans substantially in the form annexed hereto as Exhibit H-1, with any applicable exceptions noted thereon. If reasonably required by In connection with the ServicerTrustee's completion and delivery of such Final Certification, the Owner Trustee shall furnish the Servicer review each Mortgage File with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward respect to the Master Servicer copies of any documents evidencing such assumption, modification, consolidation or extension. In servicing and administering the Initial Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care Loans to determine that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with contains the requirements of this Agreement, and the Owner's reliance on the Servicer.following documents:

Mortgage Loan. Except with Notwithstanding the written permission of immediately preceding two sentences, the Master Servicer, no modification, recast, extension, or capitalization 's right to purchase any Mortgage Loan pursuant to either of such preceding sentences shall be subject to the following additional conditions: (x) if the date on which the Mortgage Loan first became 90-day delinquent payments (the "Initial Delinquency Date") occurred during the first two calendar months of a Mortgage Loan shall be permitted. Where applicablecalendar quarter, the Master Servicer must satisfy all requirements under may exercise the applicable PMI Policy and/or any applicable LPMI Policy regarding purchase right during the relief granted period commencing on the Initial Delinquency Date and ending on the last Master Servicer Business Day of such calendar quarter, (y) if the Initial Delinquency Date occurred during the third calendar month of a calendar quarter, the Master Servicer may exercise the purchase right during the period commencing on the first day of the immediately succeeding calendar quarter and ending on the last Master Servicer Business Day of such succeeding calendar quarter and (z) if the Master Servicer does not exercise the purchase right with respect to a Mortgage Loan during the period specified in clause (x) or (y), as applicable, such Mortgage Loan shall thereafter again become eligible for purchase pursuant to the preceding two sentences only after the Mortgage Loan ceases to be 90-day delinquent and thereafter becomes 90-day delinquent again. For purposes of this paragraph, a Mortgage Loan is considered delinquent for 90 consecutive days if a Monthly Payment is not received by the first day of the third month following the month during which such payment was due. Consistent with the terms of this Section 3.01, the Master Servicer may waive, modify or vary any term of any Mortgage Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any Mortgagor if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Mortgage Loan, includingthat the security for, without limitationand the timely and full collectability of, securing such Mortgage Loan would not be adversely affected by such waiver, modification, postponement or indulgence; provided, however, that (unless the prior written consent Mortgagor is in default with respect to the Mortgage Loan or in the reasonable judgment of the respective Qualified Insurer regarding Master Servicer such default is imminent) the Master Servicer shall not permit any modification with respect to any Mortgage Loan that would (i) change in the applicable Mortgage Interest Rate, defer or forgive the payment of any term principal or interest, reduce the outstanding principal balance (except for actual payments of such Mortgage Loan, principal) or extend the release of the related Mortgagor from any liability related final maturity date with respect to such Mortgage Loan, or (ii) be inconsistent with the release terms of any portion ofapplicable Primary Insurance Policy, FHA insurance policy, VA guaranty, hazard insurance policy or interest infederal flood insurance policy. Notwithstanding the foregoing, the Mortgaged Property from the lien of the related Mortgage. In the event of Master Servicer shall not permit any modification permitted hereunder which permits the deferral of interest or principal payments on with respect to any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal Loan that would both constitute a sale or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance exchange of such Mortgage Loan within the meaning of Section 1001 of the Code (including any proposed, temporary or final regulations promulgated thereunder) (other than in connection with a proposed conveyance or assumption of such Mortgage Loan that is treated as a Principal Prepayment or in a default situation) and (b) cause any REMIC to fail to qualify as such under the amount paid by the MortgagorCode. The Master Servicer shall be entitled to reimbursement approve a request from a Mortgagor for such advances to a partial release of the related Mortgaged Property, the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property or other similar matters if it has determined, exercising its good faith business judgment in the same extent manner as for all other advances made pursuant to Section 5.03. Without limiting it would if it were the generality owner of the foregoingrelated Mortgage Loan, that the Servicer shall continuesecurity for, and the timely and full collectability of, such Mortgage Loan would not be adversely affected thereby and that REMIC I, REMIC II and REMIC III would not fail to continue to qualify as REMICs under the Code as a result thereof and that no tax on "prohibited transactions" or "contributions" after the startup day would be imposed on any REMIC as a result thereof. 104 The Master Servicer is hereby authorized and empowered, empowered by the Trust to execute and deliver or cause to be executed and delivered on behalf of itself the Holders of the REMIC I Regular Interests and the OwnerClass R-1 Residual Interest, and the Trust or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release, discharge or modification, assignments of Mortgages and endorsements of Mortgage Notes in connection with refinancings (in jurisdictions where such assignments are the customary and usual standard of practice of mortgage lenders) and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required The Master Servicer is hereby further authorized and empowered by the Trust to execute and deliver or cause to be executed and delivered on behalf of the Holders of the REMIC I Regular Interests and the Class R-1 Residual Interest and the Trust, or any of them, such instruments of assignment or other comparable instruments as the Master Servicer shall, in its sole judgment, deem appropriate in order to register any Mortgage Loan on the MERS(R) System or to cause the removal of any Mortgage Loan from registration thereon. Any expenses incurred in connection with the actions described in the preceding sentence shall be borne by the Master Servicer with no right of reimbursement; provided, however, that any such expenses incurred as a result of any termination by MERS of the MERS(R) System shall be reimbursable to the Master Servicer. The Trustee on behalf of the Trust shall execute and furnish to the Master Servicer, at the Owner shall furnish the Servicer with Master Servicer's direction, any powers of attorney and other documents prepared by the Master Servicer and determined by the Master Servicer to be necessary or appropriate to enable the Master Servicer to carry out its supervisory, servicing and administrative duties under this Agreement. Promptly after The Master Servicer and each Servicer shall obtain (to the execution extent generally commercially available) and maintain fidelity bond and errors and omissions coverage acceptable to Xxxxxx Xxx or Xxxxxxx Mac with respect to their obligations under this Agreement and the applicable Selling and Servicing Contract, respectively. The Master Servicer or each Servicer, as applicable, shall establish escrow accounts for, or pay when due (by means of an advance), any assumption, modification, consolidation or extension tax liens in connection with the Mortgaged Properties that are not paid by the Mortgagors when due to the extent that any such payment would not constitute a Nonrecoverable Advance when made. In connection with the servicing and administering of any each Mortgage Loan, but in no event later than the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward to the Master Servicer copies and any affiliate of any documents evidencing the Master Servicer (i) may perform services such assumptionas appraisals, modificationdefault management and (in the case of affiliates only) brokerage services that are not customarily provided by servicers of mortgage loans, consolidation or extension. In servicing and administering the Mortgage Loansshall be entitled to reasonable compensation therefor and (ii) may, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for at its own accountdiscretion and on behalf of the Trust, giving due consideration to Accepted Servicing Practices where such practices do not conflict with obtain credit information in the requirements form of this Agreement, and the Owner's reliance on the Servicera "credit score" from a credit repository.

Mortgage Loan. Except with The Custodian shall be under no duty or obligation to inspect, review or examine said documents, instruments, certificates or other papers to determine that the written permission same are genuine, enforceable or appropriate for the represented purpose or that they have actually been recorded in the real estate records or that they are other than what they purport to be on their face. Pursuant to Section 6 of the Master ServicerLaSalle Custodial Agreement, no modificationnot later than 90 days after the Closing Date, recastthe Custodian shall deliver to the Depositor, extensionthe Trustee and the Trust Administrator a Trust Receipt and Final Certification in the form annexed hereto as Exhibit J, with any applicable exceptions noted thereon. Based solely upon the Trust Receipt and Initial Certification received from the Custodian, and subject to the provisions of Section 2.01 and any exceptions noted on the exception report described in the next paragraph below, the Trustee acknowledges receipt of the documents referred to in Section 2.01 above and declares that it holds and will hold such documents and the other documents delivered to it constituting the Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of the Trust Fund in trust for the exclusive use and benefit of all present and future Certificateholders. If, in the course of such review, the Custodian finds any document constituting a part of a Mortgage File which does not meet the requirements of Section 2.01, the Custodian shall list such as an exception in the Trust Receipt and Final Certification pursuant to Section 6 of the LaSalle Custodial Agreement; provided, however, that the Custodian shall not make any determination as to whether (i) any endorsement is sufficient to transfer all right, title and interest of the party so endorsing, as noteholder or assignee thereof, in and to that Mortgage Note or (ii) any assignment is in recordable form or is sufficient to effect the assignment of and transfer to the assignee thereof under the mortgage to which the assignment relates. The Seller shall promptly correct or cure such defect within 90 days from the date it was so notified of such defect and, if the Seller does not correct or cure such defect within such period and such defect materially and adversely affects the interests of Certificateholders in the related Mortgage Loan, the Seller shall either (a) substitute for the related Mortgage Loan a Qualified Substitute Mortgage Loan, which substitution shall be accomplished in the manner and subject to the conditions set forth in Section 2.03, or capitalization (b) repurchase such Mortgage Loan within 90 days from the date that the Seller was notified of delinquent payments such defect in writing at the Purchase Price of such Mortgage Loan; or such longer period not to exceed 720 days from the Closing Date if the substitution or repurchase of a Mortgage Loan pursuant to this provision is required by reason of a delay in delivery of any documents by the appropriate recording office or title insurer, as applicable; provided, however, that the Seller shall have no liability for recording any Assignment of Mortgage in favor of the Trustee or for the Custodian’s failure to record such Assignment of Mortgage, and provided, further, that no Seller shall be permitted. Where applicable, the Servicer must satisfy all requirements under the applicable PMI Policy and/or obligated to repurchase or cure any applicable LPMI Policy regarding the relief granted with respect to Mortgage Loan solely as a delinquent Mortgage Loan, including, without limitation, securing the prior written consent result of the respective Qualified Insurer regarding any change in any term Custodian’s failure to record such Assignment of Mortgage. The Trust Administrator shall deliver or direct the Custodian to deliver to each Rating Agency written notice within 270 days from the Closing Date indicating each Mortgage Loan (a) for which a mortgage or assignment of mortgage required to be recorded hereunder has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage Loan, . Such notice shall be delivered every 90 days thereafter until the release related Mortgage Loan is returned to the Custodian. Any such substitution pursuant to clause (a) of the related Mortgagor from preceding sentence shall not be effected prior to the delivery to the Trustee and the Trust Administrator of (1) the Opinion of Counsel required by Section 2.05 hereof, and (2) a Request for Release substantially in the form of Exhibit K. No substitution is permitted to be made in any liability related to calendar month after the Determination Date for such month. The Purchase Price for any such Mortgage Loan, or Loan shall be deposited by the release of any portion of, or interest in, the Mortgaged Property from the lien of Seller in the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest Collection Account on or principal payments on any Mortgage Loan, the Servicer shall, on prior to the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance of such Mortgage Loan and (b) the amount paid by the Mortgagor. The Servicer shall be entitled to reimbursement for such advances to the same extent as for all other advances made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Distribution Date in the month following the date of execution month during which the Seller became obligated hereunder to repurchase or replace such Mortgage Loan and, upon receipt of such instrumentdeposit and certification with respect thereto in the form of Exhibit K hereto, the Servicer Custodian shall forward release the related Mortgage File to the Master Seller and shall execute and deliver at such entity’s request such instruments of transfer or assignment prepared by such entity, in each case without recourse, as shall be necessary to vest in such entity, or a designee, the Trustee’s interest in any Mortgage Loan released pursuant hereto. If pursuant to the preceding paragraph the Seller repurchases a Mortgage Loan that is a MERS Mortgage Loan, the related Servicer copies shall, at the Seller’s expense, either (i) cause MERS to execute and deliver an Assignment of Mortgage in recordable form to transfer the Mortgage from MERS to the Seller and shall cause such Mortgage to be removed from registration on the MERS® System in accordance with MERS’ rules and regulations or (ii) cause MERS to designate on the MERS® System the Seller as the beneficial holder of such Mortgage Loan. The Custodian shall execute and deliver prior to 10:00 a.m. (New York time) on each Subsequent Transfer Date to the Depositor, the Trust Administrator and each Servicer a Subsequent Certification in the form annexed hereto as Exhibit I-2. Based on its review and examination, and only as to the documents identified in such Subsequent Certification, the Custodian shall acknowledge that such documents appear regular on their face and relate to such Subsequent Mortgage Loan. None of the Trustee, the Trust Administrator or the Custodian shall be under any documents evidencing duty or obligation to inspect, review or examine said documents, instruments, certificates or other papers to determine that the same are genuine, enforceable or appropriate for the represented purpose or that they have actually been recorded in the real estate records or that they are other than what they purport to be on their face. Not later than 90 days after the end of the Prefunding Period, the Custodian shall deliver to the Depositor, the Trust Administrator, the Seller and each Servicer a Final Certification with respect to the Subsequent Mortgage Loans in the form annexed hereto as Exhibit J with any applicable exceptions noted thereon. If, in the course of such assumption, modification, consolidation or extension. In servicing and administering review of the Mortgage Files relating to the Subsequent Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do Custodian finds any document constituting a part of a Mortgage File which does not conflict with meet the requirements of Section 2.01, the Custodian shall list such as an exception in the Final Certification; provided, however that the Custodian shall not make any determination as to whether (i) any endorsement is sufficient to transfer all right, title and interest of the party so endorsing, as noteholder or assignee thereof, in and to that Mortgage Note or (ii) any assignment is in recordable form or is sufficient to effect the assignment of and transfer to the assignee thereof under the mortgage to which the assignment relates. The Seller shall cure any such defect or repurchase or substitute for any such Mortgage Loan in accordance with this Agreement, and the Owner's reliance on the ServicerSection 2.02(a).

Mortgage Loan. Except with Notwithstanding anything herein to the written permission of the Master Servicercontrary, no modification, recast, extension, or capitalization of delinquent payments of a each Substitute Mortgage Loan shall be permitted. Where applicable, deemed to have the Servicer must satisfy all requirements under the applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted with respect to a delinquent Mortgage Loan, including, without limitation, securing the prior written consent of the respective Qualified Insurer regarding any change in any term of such Mortgage Loan, the release of the related Mortgagor from any liability related to such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at same Pass-Through Rate as the Mortgage Loan Remittance Rate on for which it was substituted. The Purchase Price for each purchased or repurchased Mortgage Loan shall be deposited by the unpaid principal balance Company in the Certificate Account and, upon receipt by the Trustee of written notification of such deposit signed by a Servicing Officer, the Trustee shall (or, if applicable, shall cause the Custodian to) release to the Company the related Mortgage File and shall execute and deliver (or, in the event that the Mortgage Files are held in the name of the Custodian, shall cause the Custodian to execute and deliver) on behalf of the Trust such instruments of transfer or assignment, in each case without recourse, as shall be necessary to vest in the Company or its designee or assignee title to any Mortgage Loan and (b) the amount paid by the Mortgagorreleased pursuant hereto. The Servicer shall be entitled to reimbursement for such advances to the same extent as for all other advances made pursuant to Section 5.03. Without limiting the generality In furtherance of the foregoing, if such Mortgage Loan is a MERS Loan and as a result of the repurchase thereof such Mortgage Loan shall cease to be serviced by a servicer that is a member of MERS or if the Company or its assignee shall so request, the Master Servicer shall continue, and is hereby authorized and empowered, cause MERS to execute and deliver on behalf an assignment of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect Mortgage in recordable form from MERS to the Company or its assignee and shall cause the Mortgage Loans Loan to be removed from registration on the MERS(R) System in accordance with MERS' rules and with respect procedures. The obligation of the Company to repurchase or substitute any Mortgage Loan as to which such a defect in a constituent document exists shall constitute the sole remedy respecting such defect available to the Mortgaged Properties. If reasonably required by Trust or the Servicer, Holders of the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward to the Master Servicer copies of any documents evidencing such assumption, modification, consolidation or extension. In servicing and administering the Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreement, and the Owner's reliance on the ServicerCertificates.

Mortgage Loan. Except with Notwithstanding the written permission of immediately preceding two sentences, the Master Servicer, no modification, recast, extension, or capitalization 's right to purchase any Mortgage Loan pursuant to either of such preceding sentences shall be subject to the following additional conditions: (x) if the date on which the Mortgage Loan first became 90-day delinquent payments (the "Initial Delinquency Date") occurred during the first two calendar months of a Mortgage Loan shall be permitted. Where applicablecalendar quarter, the Master Servicer must satisfy all requirements under may exercise the applicable PMI Policy and/or any applicable LPMI Policy regarding purchase right during the relief granted period commencing on the Initial Delinquency Date and ending on the last Master Servicer Business Day of such calendar quarter, (y) if the Initial Delinquency Date occurred during the third calendar month of a calendar quarter, the Master Servicer may exercise the purchase right during the period commencing on the first day of the immediately succeeding calendar quarter and ending on the last Master Servicer Business Day of such succeeding calendar quarter and (z) if the Master Servicer does not exercise the purchase right with respect to a Mortgage Loan during the period specified in clause (x) or (y), as applicable, such Mortgage Loan shall thereafter again become eligible for purchase pursuant to the preceding two sentences only after the Mortgage Loan ceases to be 90-day delinquent and thereafter becomes 90-day delinquent again. For purposes of this paragraph, a Mortgage Loan is considered delinquent for 90 consecutive days if a Monthly Payment is not received by the first day of the third month following the month during which such payment was due. Consistent with the terms of this Section 3.01, the Master Servicer may waive, modify or vary any term of any Mortgage Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any Mortgagor if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Mortgage Loan, includingthat the security for, without limitationand the timely and full collectability of, securing such Mortgage Loan would not be adversely affected by such waiver, modification, postponement or indulgence; provided, however, that (unless the prior written consent Mortgagor is in default with respect to the Mortgage Loan or in the reasonable judgment of the respective Qualified Insurer regarding Master Servicer such default is imminent) the Master Servicer shall not permit any modification with respect to any Mortgage Loan that would (i) change in the applicable Mortgage Interest Rate, defer or forgive the payment of any term principal or interest, reduce the outstanding principal balance (except for actual payments of such Mortgage Loan, principal) or extend the release of the related Mortgagor from any liability related final maturity date with respect to such Mortgage Loan, or (ii) be inconsistent with the release terms of any portion ofapplicable Primary Insurance Policy, FHA insurance policy, VA guaranty, hazard insurance policy or interest infederal flood insurance policy. Notwithstanding the foregoing, the Mortgaged Property from the lien of the related Mortgage. In the event of Master Servicer shall not permit any modification permitted hereunder which permits the deferral of interest or principal payments on with respect to any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal Loan that would both constitute a sale or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance exchange of such Mortgage Loan within the meaning of Section 1001 of the Code (including any proposed, temporary or final regulations promulgated thereunder) (other than in connection with a proposed conveyance or assumption of such Mortgage Loan that is treated as a Principal Prepayment or in a default situation) and (b) cause any REMIC to fail to qualify as such under the amount paid by the MortgagorCode. The Master Servicer shall be entitled to reimbursement approve a request from a Mortgagor for such advances to a partial release of the related Mortgaged Property, the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property or other similar matters if it has determined, exercising its good faith business judgment in the same extent manner as for all other advances made pursuant to Section 5.03. Without limiting it would if it were the generality owner of the foregoingrelated Mortgage Loan, that the Servicer shall continuesecurity for, and the timely and full collectability of, such Mortgage Loan would not be adversely affected thereby and that the applicable trust fund would not fail to continue to qualify as a REMIC under the Code as a result thereof and that no tax on "prohibited transactions" or "contributions" after the startup day would be imposed on any REMIC as a result thereof. The Master Servicer is hereby authorized and empowered, empowered by the Trustee to execute and deliver or cause to be executed and delivered on behalf of itself the Holders of the Certificates, and the OwnerTrustee or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release, discharge or modification, assignments of Mortgages and endorsements of Mortgage Notes in connection with refinancings (in jurisdictions where such assignments are the customary and usual standard of practice of mortgage lenders) and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required The Master Servicer is hereby further authorized and empowered by the Trustee to execute and deliver or cause to be executed and delivered on behalf of the Holders of the Certificates and the Trustee, or any of them, such instruments of assignment or other comparable instruments as the Master Servicer shall, in its sole judgment, deem appropriate in order to register any Mortgage Loan on the MERS'r' System or to cause the removal of any Mortgage Loan from registration thereon. Any expenses incurred in connection with the actions described in the preceding sentence shall be borne by the Master Servicer with no right of reimbursement; provided, however, that any such expenses incurred as a result of any termination by MERS of the MERS'r' System shall be reimbursable to the Master Servicer. The Trustee shall execute and furnish to the Master Servicer, at the Owner shall furnish the Servicer with Master Servicer's direction, any powers of attorney and other documents prepared by the Master Servicer and determined by the Master Servicer to be necessary or appropriate to enable the Master Servicer to carry out its supervisory, servicing and administrative duties under this Agreement. Promptly after The Master Servicer and each Servicer shall obtain (to the execution extent generally commercially available) and maintain fidelity bond and errors and omissions coverage acceptable to Xxxxxx Xxx or Xxxxxxx Mac with respect to their obligations under this Agreement and the applicable Selling and Servicing Contract, respectively. The Master Servicer or each Servicer, as applicable, shall establish escrow accounts for, or pay when due (by means of an advance), any assumption, modification, consolidation or extension tax liens in connection with the Mortgaged Properties that are not paid by the Mortgagors when due to the extent that any such payment would not constitute a Nonrecoverable Advance when made. In connection with the servicing and administering of any each Mortgage Loan, but in no event later than the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward to the Master Servicer copies and any affiliate of any documents evidencing the Master Servicer (i) may perform services such assumptionas appraisals, modificationdefault management and (in the case of affiliates only) brokerage services that are not customarily provided by servicers of mortgage loans, consolidation or extension. In servicing and administering the Mortgage Loansshall be entitled to reasonable compensation therefor and (ii) may, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for at its own accountdiscretion and on behalf of the Trustee, giving due consideration to Accepted Servicing Practices where such practices do not conflict with obtain credit information in the requirements form of this Agreement, and the Owner's reliance on the Servicera "credit score" from a credit repository.

Mortgage Loan. Except with Notwithstanding the written permission of immediately preceding two sentences, the Master Servicer, no modification, recast, extension, or capitalization 's right to purchase any Mortgage Loan pursuant to either of such preceding sentences shall be subject to the following additional conditions: (x) if the date on which the Mortgage Loan first became 90-day delinquent payments (the "Initial Delinquency Date") occurred during the first two calendar months of a Mortgage Loan shall be permitted. Where applicablecalendar quarter, the Master Servicer must satisfy all requirements under may exercise the applicable PMI Policy and/or any applicable LPMI Policy regarding purchase right during the relief granted period commencing on the Initial Delinquency Date and ending on the last Master Servicer Business Day of such calendar quarter, (y) if the Initial Delinquency Date occurred during the third calendar month of a calendar quarter, the Master Servicer may exercise the purchase right during the period commencing on the first day of the immediately succeeding calendar quarter and ending on the last Master Servicer Business Day of such succeeding calendar quarter and (z) if the Master Servicer does not exercise the purchase right with respect to a Mortgage Loan during the period specified in clause (x) or (y), as applicable, such Mortgage Loan shall thereafter again become eligible for purchase pursuant to the preceding two sentences only after the Mortgage Loan ceases to be 90-day delinquent and thereafter becomes 90-day delinquent again. For purposes of this paragraph, a Mortgage Loan is considered delinquent for 90 consecutive days if a Monthly Payment is not received by the first day of the third month following the month during which such payment was due. Consistent with the terms of this Section 3.01, the Master Servicer may waive, modify or vary any term of any Mortgage Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any Mortgagor if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Mortgage Loan, includingthat the security for, without limitationand the timely and full collectability of, securing such Mortgage Loan would not be adversely affected by such waiver, modification, postponement or indulgence; provided, however, that (unless the prior written consent Mortgagor is in default with respect to the Mortgage Loan or in the reasonable judgment of the respective Qualified Insurer regarding Master Servicer such default is imminent) the Master Servicer shall not permit any modification with respect to any Mortgage Loan that would (i) change in the applicable Mortgage Interest Rate, defer or forgive the payment of any term principal or interest, reduce the outstanding principal balance (except for actual payments of such Mortgage Loan, principal) or extend the release of the related Mortgagor from any liability related final maturity date with respect to such Mortgage Loan, or (ii) be inconsistent with the release terms of any portion ofapplicable Primary Insurance Policy, FHA insurance policy, VA guaranty, hazard insurance policy or interest infederal flood insurance policy. Notwithstanding the foregoing, the Mortgaged Property from the lien of the related Mortgage. In the event of Master Servicer shall not permit any modification permitted hereunder which permits the deferral of interest or principal payments on with respect to any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal Loan that would both constitute a sale or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance exchange of such Mortgage Loan within the meaning of Section 1001 of the Code (including any proposed, temporary or final regulations promulgated thereunder) (other than in connection with a proposed conveyance or assumption of such Mortgage Loan that is treated as a Principal Prepayment or in a default situation) and (b) cause any REMIC to fail to qualify as such under the amount paid by the MortgagorCode. The Master Servicer shall be entitled to reimbursement approve a request from a Mortgagor for such advances to a partial release of the related Mortgaged Property, the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property or other similar matters if it has determined, exercising its good faith business judgment in the same extent manner as for all other advances made pursuant to Section 5.03. Without limiting it would if it were the generality owner of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any related Mortgage Loan, but in no event later than that the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward to the Master Servicer copies of any documents evidencing such assumption, modification, consolidation or extension. In servicing and administering the Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreementsecurity for, and the Owner's reliance timely and full collectability of, such Mortgage Loan would not be adversely affected thereby and that the applicable trust fund would not fail to continue to qualify as a REMIC under the Code as a result thereof and that no tax on "prohibited transactions" or "contributions" after the Servicerstartup day would be imposed on any REMIC as a result thereof.