Common use of Power to Act; Procedures Clause in Contracts

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.19

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 53 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS...........................................................................................53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 54 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 54 Section 3.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 55 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 56 Section 3.193.19 PAYMENT TO MORTGAGE LOAN DEPOSITOR....................................................56 Section 3.20 UCC...................................................................................57 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................57 Section 3.22 SURETY BOND...........................................................................57

Power to Act; Procedures. 49 57 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 58 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 58 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................59 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 60 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 60 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 61 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................61 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 62 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 62 Section 3.15 REO PROPERTY..........................................................................54 62 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 63 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 63 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 64 Section 3.19

Power to Act; Procedures. 49 56 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 57 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 57 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................58 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 59 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 59 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 60 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 60 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 61 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 61 Section 3.15 REO PROPERTY..........................................................................54 61 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 62 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 62 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 63 Section 3.193.19 EMC...................................................................................63 Section 3.20 UCC...................................................................................64 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................64 Section 3.22 SURETY BOND...........................................................................64

Power to Act; Procedures. 49 41 Section 3.06 DUE-ON-SALE TERMINATION OF SERVICING AGREEMENTS; SUCCESSOR SERVICERS..............................42 Section 3.07 "DUE ON SALE" CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..........................................42 Section 3.07 3.08 RELEASE OF MORTGAGE FILES.............................................................50 42 Section 3.08 3.09 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 44 Section 3.09 3.10 [RESERVED]............................................................................44 Section 3.11 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ..........................................44 Section 3.10 3.12 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 45 Section 3.11 3.13 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES AND THE CMAC PMI POLICIES................................52 ..........................................................................45 Section 3.12 3.14 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 46 Section 3.13 3.15 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.1946

Power to Act; Procedures. 49 43 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 44 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 44 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ...................................................................45 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 46 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 46 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 47 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................47 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 48 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 48 Section 3.15 REO PROPERTY..........................................................................54 49 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 49 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 50 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 50 Section 3.19

Power to Act; Procedures. 49 Section 3.06 59- SECTION 3.06. DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 ...................-60- SECTION 3.07. RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 ....................................-60- SECTION 3.08. DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 Section 3.09 .......................................-61- SECTION 3.09. STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 .......-62- SECTION 3.10. PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 .............-62- SECTION 3.11. MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 .......-63- SECTION 3.12. TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 ................................................-63- SECTION 3.13. REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 ....................-64- SECTION 3.14. COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 .........................-64- SECTION 3.15. REO PROPERTY..........................................................................54 Section 3.16 .................................................-64- SECTION 3.16. ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ................-65- SECTION 3.17. ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 .............-66- SECTION 3.18. REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section ........-66- SECTION 3.19. UCC..........................................................-67- SECTION 3.20. OBLIGATION OF THE MASTER SERVICER IN RESPECT OF PREPAYMENT INTEREST SHORTFALLS..........................................-67- SECTION 3.21. [______________] PMI POLICY; CLAIMS UNDER THE [____________] PMI POLICY...................................................-67- SECTION 3.22. PROTECTED ACCOUNTS...........................................-67- SECTION 3.23. MASTER SERVICER COLLECTION ACCOUNT...........................-68- SECTION 3.24. PERMITTED WITHDRAWALS AND TRANSFERS FROM THE MASTER SERVICER COLLECTION ACCOUNT..................................-69- SECTION 3.25. DISTRIBUTION ACCOUNT.........................................-70- SECTION 3.26. PERMITTED WITHDRAWALS AND TRANSFERS FROM THE DISTRIBUTION ACCOUNT......................................................-71- SECTION 3.27

Power to Act; Procedures. 49 73 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 74 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 74 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................75 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 76 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 76 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 77 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................77 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 78 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 78 Section 3.15 REO PROPERTY..........................................................................54 78 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 79 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 79 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 80 Section 3.19

Power to Act; Procedures. 49 Section 3.06 64- SECTION 3.06. DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 ...................................................-65- SECTION 3.07. RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 ....................................................................-65- SECTION 3.08. DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 Section 3.09 ....................................................................................................-66- SECTION 3.09. STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 .......................................-67- SECTION 3.10. PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 .............................................-67- SECTION 3.11. MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 .......................................-68- SECTION 3.12. TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 DOCUMENTS ................................................................................................................-68- SECTION 3.13. REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 ....................................................-69- SECTION 3.14. COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 .........................................................-69- SECTION 3.15. REO PROPERTY..........................................................................54 Section 3.16 .................................................................................-69- SECTION 3.16. ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ................................................-70- SECTION 3.17. ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 .............................................-71- SECTION 3.18. REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION........................................-71- SECTION 3.19. UCC..........................................................................................-72- OBLIGATION OF THE MASTER SERVICER IN RESPECT OF PREPAYMENT INTEREST SHORTFALLS.................................55 Section 3.19-72- SECTION 3.21. RESERVED.....................................................................................-72- SECTION 3.22. PROTECTED ACCOUNTS...........................................................................-72- SECTION 3.23. MASTER SERVICER COLLECTION ACCOUNT...........................................................-74- SECTION 3.24. PERMITTED WITHDRAWALS AND TRANSFERS FROM THE MASTER SERVICER COLLECTION ACCOUNT........................................................................................................-75- SECTION 3.25. DISTRIBUTION ACCOUNT.........................................................................-75- SECTION 3.26. PERMITTED WITHDRAWALS AND TRANSFERS FROM THE DISTRIBUTION ACCOUNT ................................................................................................................-76- SECTION 3.27

Power to Act; Procedures. 49 47 Section 3.06 3.06. DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 48 Section 3.07 3.07. RELEASE OF MORTGAGE FILES.............................................................50 48 Section 3.08 3.08. DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ...............................................................................49 Section 3.09 3.09. STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 50 Section 3.10 3.10. PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 50 Section 3.11 3.11. MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 51 Section 3.12 3.12. TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 51 Section 3.13 3.13. REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 52 Section 3.14 3.14. COMPENSATION FOR THE MASTER SERVICER..................................................53 52 Section 3.15 3.15. REO PROPERTY..........................................................................54 53 Section 3.16 3.16. ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 53 Section 3.17 3.17. ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 54 Section 3.18 3.18. REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................54 Section 3.19. EMC...................................................................................55 Section 3.193.20. UCC...................................................................................55 Section 3.21. OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................55

Power to Act; Procedures. 49 14 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 15 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 15 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR ISSUER AND INDENTURE TRUSTEE...........................................................................51 ..............................................16 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 17 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 17 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 17 Section 3.12 INDENTURE TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .........................................................................18 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 18 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 19 Section 3.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.193.15

Power to Act; Procedures. 49 45 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 46 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 46 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ......................................................................................................47 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 47 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 48 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 48 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 DOCUMENTS ..................................................................................................................49 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 49 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 49 Section 3.15 REO PROPERTY..........................................................................54 49 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 50 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 51 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 51 Section 3.19

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE.....................................................................................................................................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.193.19 EMC...................................................................................56 Section 3.20 UCC...................................................................................56 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................56 Section 3.22 THE CLASS X SERVICING CONTRACTS.......................................................57

Power to Act; Procedures. 49 67 Section 3.06 3.6 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..................................................68 Section 3.07 3.7 RELEASE OF MORTGAGE FILES.............................................................50 ...................................................................69 Section 3.08 3.8 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ........69 Section 3.09 3.9 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ......................................70 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ............................................71 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ......................................71 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ....................71 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ............................................................72 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ........................................................72 Section 3.15 REO PROPERTY..........................................................................54 ................................................................................72 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 ...............................................73 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.19............................................74

Power to Act; Procedures. 49 Section 3.06 3.06. DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................................................................50 Section 3.07 3.07. RELEASE OF MORTGAGE FILES.............................................................50 .................................................................51 Section 3.08 3.08. DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ...................................................................................52 Section 3.09 3.09. STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES....................................................................52 Section 3.10 3.10. PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ..........................................53 Section 3.11 3.11. MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ....................................53 Section 3.12 3.12. TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ..................54 Section 3.13 3.13. REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 .................................................54 Section 3.14 3.14. COMPENSATION FOR THE MASTER SERVICER..................................................53 ......................................................55 Section 3.15 3.15. REO PROPERTY..........................................................................54 ..............................................................................55 Section 3.16 3.16. ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 .............................................56 Section 3.17 3.17. ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 ..........................................56 Section 3.18 3.18. REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 .....................................57 Section 3.19. EMC.......................................................................................57 Section 3.20. UCC.......................................................................................58 Section 3.21. OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.............................................58

Power to Act; Procedures. 49 70 Section 3.06 4.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ...................................................71 Section 3.07 4.07 RELEASE OF MORTGAGE FILES.............................................................50 ....................................................................71 Section 3.08 4.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER, COMPANY AND SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ..............................................................72 Section 3.09 4.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 .......................................73 Section 3.10 4.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 .............................................74 Section 3.11 4.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 .......................................74 Section 3.12 4.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .....................74 Section 3.13 4.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ....................................................75 Section 3.14 4.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 .........................................................75 Section 3.15 4.15 REO PROPERTY..........................................................................54 .................................................................................75 Section 3.16 4.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 ................................................76 Section 3.17 4.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 .............................................76 Section 3.18 4.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 ........................................77 Section 3.194.19 EMC..........................................................................................78 Section 4.20 UCC..........................................................................................78 Section 4.21 OPTIONAL PURCHASE OF CERTAIN MORTGAGE LOANS..................................................78 ARTICLE V

Power to Act; Procedures. 49 53 Section 3.06 3.06. DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 54 Section 3.07 3.07. RELEASE OF MORTGAGE FILES.............................................................50 54 Section 3.08 3.08. DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ..........................................................................................................55 Section 3.09 3.09. STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 56 Section 3.10 3.10. PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 56 Section 3.11 3.11. MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 57 Section 3.12 3.12. TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 57 Section 3.13 3.13. REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 58 Section 3.14 3.14. COMPENSATION FOR THE MASTER SERVICER..................................................53 58 Section 3.15 3.15. REO PROPERTY..........................................................................54 59 Section 3.16 3.16. ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 59 Section 3.17 3.17. ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 60 Section 3.18 3.18. REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 60 Section 3.19. EMC...................................................................................61 Section 3.20. UCC...................................................................................61 Section 3.21. OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................61

Power to Act; Procedures. 49 14 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 14 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 15 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR ISSUER AND INDENTURE TRUSTEE...........................................................................51 ...........................................15 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 16 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 17 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 17 Section 3.12 INDENTURE TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .........................................................................17 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 18 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 18 Section 3.15 REO PROPERTY..........................................................................54 18 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 19 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 19 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 20 Section 3.19

Power to Act; Procedures. 49 40 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ...................................41 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 ....................................................41 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ............................................................................42 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 .......................43 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 .............................43 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 .......................43 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ......................................................................................44 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ....................................44 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 .........................................44 Section 3.15 REO PROPERTY..........................................................................54 .................................................................45 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 ................................46 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 .............................46 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 ........................47 Section 3.193.19 EMC..........................................................................47 Section 3.20 UCC..........................................................................47

Power to Act; Procedures. 49 57 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ....................58 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 .....................................58 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 .....................59 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ............................................60 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ..............60 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ............................................61 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ..............................61 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 .....................62 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ..........................62 Section 3.15 REO PROPERTY..........................................................................54 ..................................................62 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 .................63 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 ..............................................63 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 ...........................................64 Section 3.19

Power to Act; Procedures. 49 48 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 49 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 49 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ..........................................................................................................50 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 51 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 51 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 52 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY..........................................................................54 53 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 54 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.193.19 EMC...................................................................................55 Section 3.20 UCC...................................................................................56 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................56

Power to Act; Procedures. 49 55 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 56 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 56 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................57 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 57 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 58 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 58 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................59 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 59 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 59 Section 3.15 REO PROPERTY..........................................................................54 60 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 60 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 61 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 61 Section 3.19

Power to Act; Procedures. 49 55 Section 3.06 3.6 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..................................................56 Section 3.07 3.7 RELEASE OF MORTGAGE FILES.............................................................50 ...................................................................57 Section 3.08 3.8 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ........57 Section 3.09 3.9 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ......................................58 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ............................................59 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ......................................59 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ....................60 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ............................................................60 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ........................................................60 Section 3.15 REO PROPERTY..........................................................................54 ................................................................................60 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.19...............................................61

Power to Act; Procedures. 49 47 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 48 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 48 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................49 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 50 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 50 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 50 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................51 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 51 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 51 Section 3.15 REO PROPERTY..........................................................................54 52 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 52 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 53 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 53 Section 3.19

Power to Act; Procedures. 49 Section 3.06 DUE93- SECTION 4.06 Due-ONon-SALE CLAUSESSale Clauses; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTSAssumption Agreements...................................................-94- SECTION 4.07 Reserved.....................................................................................-94- SECTION 4.08 Documents, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANSRecords and Funds in Possession of Master Servicer To Be Held for Trustee..................................................................................-94- SECTION 4.09 Standard Hazard Insurance and Flood Insurance Policies.......................................-95- SECTION 4.10 Presentment of Claims and Collection of Proceeds.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 -95- SECTION 4.11 Maintenance of Primary Mortgage Insurance Policies...........................................-95- SECTION 4.12 Trustee to Retain Possession of Certain Insurance Policies and Documents ............................................................................................-96- SECTION 4.13 Realization Upon Defaulted Mortgage Loans....................................................-96- SECTION 4.14 Compensation for the Master Servicer.........................................................-96- SECTION 4.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.19Property.................................................................................-96- SECTION 4.16 Annual Officer's Certificate as to Compliance................................................-97- SECTION 4.17 Annual Independent Accountant's Servicing Report.............................................-97- SECTION 4.18 UCC..........................................................................................-98- SECTION 4.19 Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls...................................................................................-98- SECTION 4.20 Reserved.....................................................................................-98- SECTION 4.21 Prepayment Penalty Verification..............................................................-98-

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE..........................................................................................................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.193.19 EMC...................................................................................56 Section 3.20 UCC...................................................................................56 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................56

Power to Act; Procedures. 49 37 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ....................................38 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 .....................................................38 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ........................................39 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ........................40 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ..............................40 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ........................40 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ........................................................41 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 .....................................41 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ..........................................41 Section 3.15 REO PROPERTY..........................................................................54 ..................................................................42 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 .................................42 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 ..............................43 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 .........................43 Section 3.193.19 EMC...........................................................................44 Section 3.20 UCC...........................................................................44

Power to Act; Procedures. 49 51 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ...................................52 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 ....................................................52 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ............................................................................53 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 .......................54 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 .............................54 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 .......................54 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ......................................................................................55 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ....................................55 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 .........................................55 Section 3.15 REO PROPERTY..........................................................................54 .................................................................56 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 ................................56 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 .............................57 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 ........................57 Section 3.193.19 EMC..........................................................................58 Section 3.20 UCC..........................................................................58 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS................................58

Power to Act; Procedures. 49 60 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 61 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 61 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ...................................................................62 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 63 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 63 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 63 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................64 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 64 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 65 Section 3.15 REO PROPERTY..........................................................................54 66 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 66 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 67 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 68 Section 3.193.19 EMC...................................................................................69 Section 3.20 UCC...................................................................................69 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................69

Power to Act; Procedures. 49 40 Section 3.06 DUETERMINATION OF SUB-ONSERVICING AGREEMENTS; SUCCESSOR SUB-SALE SERVICERS......................41 Section 3.07 "DUE ON SALE" CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..........................................41 Section 3.07 3.08 RELEASE OF MORTGAGE FILES.............................................................50 42 Section 3.08 3.09 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ......................................................................................................44 Section 3.09 3.10 [RESERVED]............................................................................44 Section 3.11 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ..........................................44 Section 3.10 3.12 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 46 Section 3.11 3.13 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 46 Section 3.12 3.14 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................47 Section 3.13 3.15 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 47 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY..........................................................................54 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 Section 3.193.16

Power to Act; Procedures. 49 62 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 63 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 63 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ......................................................................................................64 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 65 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 65 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 66 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 DOCUMENTS ..................................................................................................................66 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 66 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 67 Section 3.15 REO PROPERTY..........................................................................54 67 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................54 68 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 68 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................55 69 Section 3.193.19 THE COMPANY...........................................................................69 Section 3.20 UCC...................................................................................69 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................70 Section 3.22 SURETY BOND...........................................................................70

Power to Act; Procedures. 49 48 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ...................................49 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 ....................................................49 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ............................................................................50 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 .......................51 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 .............................51 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 .......................51 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ......................................................................................52 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ....................................52 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 .........................................52 Section 3.15 REO PROPERTY..........................................................................54 .................................................................53 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................................................54 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................55 .............................54 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.........................................................55 Section 3.193.19 EMC..........................................................................55 Section 3.20 UCC..........................................................................55