Common use of PURCHASE AND SALE OF SERVICING Clause in Contracts

PURCHASE AND SALE OF SERVICING. ADVANCE RECEIVABLES 10 3.1 Assignment and Conveyance of Servicing Advance Receivables 10 3.2 Servicing Advance Receivables Purchase Price 11 3.3 Servicing Advances 11 3.4 Reimbursement of Servicing Advances 12 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF SELLER 12 4.1 General Representations 12 4.2 Title to Transferred Assets 12 4.3 Right to receive Servicing Fees 12 4.4 Servicing Agreements and Underlying Documents 12 4.5 Mortgage Pool Information, Related Matters 12 4.6 Enforceability of Servicing Agreements 13 4.7 Compliance With Servicing Agreements 13 4.8 No Recourse 14 4.9 The Mortgage Loans 14 4.10 Servicing Advance Receivables 16 4.11 Servicing Agreement Consents and Other Third Party Approvals 16 TABLE OF CONTENTS (continued) Page

PURCHASE AND SALE OF SERVICING. ADVANCE RECEIVABLES 10 3.1 Assignment and Conveyance of Servicing Advance Receivables 10 3.2 Servicing Advance Receivables Purchase Price 11 3.3 Servicing Advances 11 3.4 Reimbursement of Servicing Advances 12 11 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF SELLER 12 4.1 General Representations 12 4.2 Title to Transferred Assets 12 4.3 Right to receive Servicing Fees 12 4.4 Servicing Agreements and Underlying Documents 12 4.5 Mortgage Pool Information, Related Matters 12 4.6 Enforceability of Servicing Agreements 13 4.7 Compliance With Servicing Agreements 13 4.8 No Recourse 14 4.9 The Mortgage Loans 14 4.10 Servicing Advance Receivables 16 4.11 Servicing Agreement Consents and Other Third Party Approvals 16 TABLE OF CONTENTS (continued) Page

PURCHASE AND SALE OF SERVICING. ADVANCE RECEIVABLES 10 11 3.1 Assignment and Conveyance of Servicing Advance Receivables 10 11 3.2 Servicing Advance Receivables Purchase Price 11 3.3 Servicing Advances 11 12 3.4 Reimbursement of Servicing Advances 12 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF SELLER 12 4.1 General Representations 12 4.2 Title to Transferred Assets 12 4.3 Right to receive Servicing Fees 12 13 4.4 Servicing Agreements and Underlying Documents 12 13 4.5 Mortgage Pool Information, Related Matters 12 13 4.6 Enforceability of Servicing Agreements 13 4.7 Compliance With Servicing Agreements 13 14 4.8 No Recourse 14 4.9 The Mortgage Loans 14 15 4.10 Servicing Advance Receivables 16 4.11 Servicing Agreement Consents and Other Third Party Approvals 16 17 TABLE OF CONTENTS (continued) Page