Common use of Primary Servicer Responsibilities Clause in Contracts

Primary Servicer Responsibilities. Each Primary Servicer will be responsible, on behalf of and for the benefit of each Trust for which the Primary Servicer services Mortgage Loans, to service the related Mortgage Loans pursuant to Accepted Servicing Practices, which responsibilities may include the following: (a) service the related Mortgage Loans in accordance with Sections 5.2 through 5.11, including without limitation: (i) collect payments on the Mortgage Loans as provided in Section 5.3 and deposit payments of principal and interest on those Mortgage Loans as provided in Section 6.1; (ii) make any Servicing Advances required by its Servicing Contract; (iii) waive, forbear and modify provisions of the Mortgage Loans to the extent provided in Subsection 5.3(3); (iv) process releases, additions and substitutions of Mortgaged Property, Defeasance Securities or Supplemental Collateral, including in connection with Defeasance; (v) enforce Due-on-Transfer Provisions as and to the extent provided in Section 5.8, subject to the exceptions in Subsection 5.8(2) and Section 5.9; and (vi) foreclose or otherwise realize upon defaulted Mortgage Loans as provided in Section 5.10. (b) retain possession of Supplemental Collateral, guaranty contracts and other security for the Mortgage Loans; (c) pay all expenses incurred by it in connection with its servicing activities with respect to the Mortgage Loans; (d) pay the Guaranty Fee to the Guarantor; and (e) establish and maintain Custodial Accounts as provided in Section 6.1. If and to the extent that the Special Servicer or Subservicer servicing a Mortgage Loan or REO Property is different from the Primary Servicer, the servicing duties described in this Subsection 5.1(3) that are assigned to that Special Servicer or Subservicer in the Servicing Contract will be performed by the Special Servicer or Subservicer, as applicable. Primary servicing will be performed by Primary Servicers engaged by contract with the Master Servicer or by Subservicers engaged by contract between a Subservicer and a Primary Servicer or the Master Servicer. If a Primary Servicer is terminated or resigns before a replacement Primary Servicer can be engaged, the Master Servicer may engage (or act as) Primary Servicer to perform such services.

Primary Servicer Responsibilities. Each Primary Servicer will be responsible, on behalf of and for the benefit of each Trust for which the Primary Servicer services Mortgage Loans, to service do the following to the extent permitted or required by the related Mortgage Loans pursuant to Accepted Servicing Practices, which responsibilities may include the followingContract: (a) service and administer the related Mortgage Loans in accordance with the standard of care stated in Subsection 5.1(1); (b) without limiting the generality of clause (a), service the related Mortgage Loans in accordance with Sections 5.2 through 5.115.12, including without limitation: (i) collect payments on the Mortgage Loans as provided in Section 5.3 and deposit payments of principal and interest on those Mortgage Loans as provided in Section 6.1; (ii) establish and maintain Escrow Accounts and Supplemental Accounts as provided in Subsection 5.3(2), except that, to the extent provided in the related Servicing Contract or Mortgage Documents, collections of payments from Borrowers for deposit to Escrow Accounts or Supplemental Accounts may be waived, delayed or reinstated; (iii) make any Servicing Advances required by its Servicing Contract; (iiiiv) waive, forbear and modify provisions of the Mortgage Loans to the extent provided in Subsection 5.3(3), except as limited by Subsections 5.3(3) and 5.3(4); (ivv) process releases, satisfactions and reconveyances (or deactivation on the Mortgage Registry System) when Mortgage Loans are repaid in whole or in part, as provided in Subsections 5.4(1) and 5.4(2); (vi) process releases, additions and substitutions of Mortgaged Property, Defeasance Securities or Supplemental Collateral, including in connection with Defeasance; (vvii) deliver documents to the applicable Custodian, hold documents and maintain records regarding the Mortgage Loans as provided in Subsection 5.4(2); (viii) enforce any requirements for property, hazard or flood insurance and any Mortgage Insurance required under the Mortgage Documents as provided in Sections 5.7 and 5.8, and apply any insurance proceeds and condemnation proceeds as provided in Sections 5.7 and 5.8; (ix) enforce Due-on-Transfer Provisions as and to the extent provided in Section 5.85.9, subject to the exceptions in Subsection 5.8(25.9(2) and Section 5.9; and5.10; (vix) foreclose or otherwise realize upon defaulted Mortgage Loans as provided in Section 5.10.5.11; and (bxi) process requests for easements, licenses, rights of use, assumptions, partial lien releases and commercial, mineral, oil or gas leases and perform other servicing functions relating to provisions of, and concerns arising under, the Mortgage Documents, as permitted by the related Servicing Contract; (c) retain possession of Supplemental Collateral, guaranty contracts and other security for the Mortgage Loans; (cd) pay all expenses incurred by it in connection with its servicing activities with respect to the Mortgage Loans; (de) pay the Guaranty Fee to the Guarantor; and (ef) establish and maintain Custodial Accounts as provided in Section 6.1. If and to the extent that the Special Servicer or Subservicer servicing a Mortgage Loan or REO Property is different from the Primary Servicer, the servicing duties described in this Subsection 5.1(3) that are assigned to that Special Servicer or Subservicer in the Servicing Contract will be performed by the Special Servicer or Subservicer, as applicable. Primary servicing will be performed by Primary Servicers engaged by contract with the Master Servicer or by Subservicers engaged by contract between a Subservicer and a Primary Servicer or the Master Servicer. If a Primary Servicer is terminated or resigns before a replacement Primary Servicer can be engaged, the Master Servicer may engage (or act as) Primary Servicer an interim servicer to perform such services.

Primary Servicer Responsibilities. Each Primary Servicer will be responsible, on behalf of and for the benefit of each Trust for which the Primary Servicer services Mortgage Loans, to do the following to the extent permitted or required by the related Servicing Contract:‌ (a) service and administer the related Mortgage Loans pursuant to Accepted Servicing Practices, which responsibilities may include in accordance with the following:standard of care stated in Subsection 5.1(1); (b) without limiting the generality of clause (a) ), service the related Mortgage Loans in accordance with Sections 5.2 through 5.115.12, including without limitation: (i) collect payments on the Mortgage Loans as provided in Section 5.3 and deposit payments of principal and interest on those Mortgage Loans as provided in Section 6.1; (ii) establish and maintain Escrow Accounts and Supplemental Accounts as provided in Subsection 5.3(2), except that, to the extent provided in the related Servicing Contract or Mortgage Documents, collections of payments from Borrowers for deposit to Escrow Accounts or Supplemental Accounts may be waived, delayed or reinstated; (iii) make any Servicing Advances required by its Servicing Contract; (iiiiv) waive, forbear and modify provisions of the Mortgage Loans to the extent provided in Subsection 5.3(3), except as limited by Subsections 5.3(3) and 5.3(4); (ivv) process releases, satisfactions and reconveyances (or deactivation on the Mortgage Registry System) when Mortgage Loans are repaid in whole or in part, as provided in Subsections 5.4(1) and 5.4(2); (vi) process releases, additions and substitutions of Mortgaged Property, Defeasance Securities or Supplemental Collateral, including in connection with Defeasance; (vvii) deliver documents to the applicable Custodian, hold documents and maintain records regarding the Mortgage Loans as provided in Subsection 5.4(2); (viii) enforce any requirements for property, hazard or flood insurance and any Mortgage Insurance required under the Mortgage Documents as provided in Sections 5.7 and 5.8, and apply any insurance proceeds and condemnation proceeds as provided in Sections 5.7 and 5.8; (ix) enforce Due-on-Transfer Provisions as and to the extent provided in Section 5.85.9, subject to the exceptions in Subsection 5.8(25.9(2) and Section 5.9; and5.10; (vix) foreclose or otherwise realize upon defaulted Mortgage Loans as provided in Section 5.10.5.11; and (bxi) process requests for easements, licenses, rights of use, assumptions, partial lien releases and commercial, mineral, oil or gas leases and perform other servicing functions relating to provisions of, and concerns arising under, the Mortgage Documents, as permitted by the related Servicing Contract; (c) retain possession of Supplemental Collateral, guaranty contracts and other security for the Mortgage Loans; (cd) pay all expenses incurred by it in connection with its servicing activities with respect to the Mortgage Loans; (de) pay the Guaranty Fee to the Guarantor; and (ef) establish and maintain Custodial Accounts as provided in Section 6.1. If and to the extent that the Special Servicer or Subservicer servicing a Mortgage Loan or REO Property is different from the Primary Servicer, the servicing duties described in this Subsection 5.1(3) that are assigned to that Special Servicer or Subservicer in the Servicing Contract will be performed by the Special Servicer or Subservicer, as applicable. Primary servicing will be performed by Primary Servicers engaged by contract with the Master Servicer or by Subservicers engaged by contract between a Subservicer and a Primary Servicer or the Master Servicer. If a Primary Servicer is terminated or resigns before a replacement Primary Servicer can be engaged, the Master Servicer may engage (or act as) Primary Servicer an interim servicer to perform such services.

Primary Servicer Responsibilities. Each Primary Servicer will be responsible, on behalf of and for the benefit of each Trust for which the Primary Servicer services Mortgage Loans, to do the following to the extent permitted or required by the related Servicing Contract:‌ (a) service and administer the related Mortgage Loans pursuant to Accepted Servicing Practices, which responsibilities may include in accordance with the following:standard of care stated in Subsection 5.1(1); (b) without limiting the generality of clause (a) ), service the related Mortgage Loans in accordance with Sections 5.2 through 5.115.12, including without limitation: (i) collect payments on the Mortgage Loans as provided in Section 5.3 and deposit payments of principal and interest on those Mortgage Loans as provided in Section 6.1; (ii) establish and maintain Escrow Accounts and Supplemental Accounts as provided in Subsection 5.3(2), except that, to the extent provided in the related Servicing Contract or Mortgage Documents, collections of payments from Borrowers for deposit to Escrow Accounts or Supplemental Accounts may be waived, delayed or reinstated; (iii) make any Servicing Advances required by its Servicing Contract; (iiiiv) waive, forbear and modify provisions of the Mortgage Loans to the extent provided in Subsection 5.3(3), except as limited by Subsection 5.3(4); (ivv) process releases, satisfactions and reconveyances (or deactivation on the Mortgage Registry System) when Mortgage Loans are repaid in whole or in part, as provided in Subsection 5.4(1); (vi) process releases, additions and substitutions of Mortgaged Property, Defeasance Securities or Supplemental Collateral, including in connection with Defeasance; (vvii) deliver documents to the applicable Custodian, hold documents and maintain records regarding the Mortgage Loans as provided in Subsections 5.4(1) and 5.4(2); (viii) enforce any requirements for property, hazard or flood insurance and any Mortgage Insurance required under the Mortgage Documents as provided in Sections 5.7 and 5.8, and apply any insurance proceeds and condemnation proceeds as provided in Sections 5.7 and 5.8; (ix) enforce Due-on-Transfer Provisions as and to the extent provided in Section 5.85.9, subject to the exceptions in Subsection 5.8(25.9(2) and Section 5.9; and5.10; (vix) foreclose or otherwise realize upon defaulted Mortgage Loans as provided in Section 5.10.5.11; and (bxi) process requests for easements, licenses, rights of use, assumptions, partial lien releases and commercial, mineral, oil or gas leases and perform other servicing functions relating to provisions of, and concerns arising under, the Mortgage Documents, as permitted by the related Servicing Contract; (c) retain possession of Supplemental Collateral, guaranty contracts and other security for the Mortgage Loans; (cd) pay all expenses incurred by it in connection with its servicing activities with respect to the Mortgage Loans; (de) pay the Guaranty Fee to the Guarantor; and (ef) establish and maintain Custodial Accounts as provided in Section 6.1. If and to the extent that the Special Servicer or Subservicer servicing a Mortgage Loan or REO Property is different from the Primary Servicer, the servicing duties described in this Subsection 5.1(3) that are assigned to that Special Servicer or Subservicer in the Servicing Contract will be performed by the Special Servicer or Subservicer, as applicable. Primary servicing will be performed by Primary Servicers engaged by contract with the Master Servicer or by Subservicers engaged by contract between a Subservicer and a Primary Servicer or the Master Servicer. If a Primary Servicer is terminated or resigns before a replacement Primary Servicer can be engaged, the Master Servicer may engage (or act as) Primary Servicer an interim servicer to perform such services.