Common use of Responsibility for Contract Administration and Servicing Clause in Contracts

Responsibility for Contract Administration and Servicing. The Servicer shall service and administer the Contracts and, subject to the terms of this Agreement, shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such servicing and administration. Subject to Section 5.02, without limiting the generality of the foregoing, the Servicer hereby is authorized and empowered when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Certificateholders and the Trustee or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments, with respect to the Contracts and any related Mortgages and with respect to the Manufactured Homes and any related Mortgaged Property. The Trustee shall execute and deliver to the Servicer any powers of attorney and other documents prepared by the Servicer and certified to the Trustee as being necessary or appropriate to enable the Servicer to service and administer the Contracts. Such power of attorney shall be in the form of Exhibit L hereto. The Servicer may perform its servicing and administration functions, as Servicer, pursuant to this Agreement through one or more subservicers. All actions by any subservicer with respect to the servicing and administration of the Contracts shall be treated as though done by the Servicer itself. All documents, instruments or contracts executed by any subservicer on behalf of the Servicer shall be treated by the Trustee as though executed by the Servicer itself. The Servicer shall remain primarily liable for all actions of any subservicer.

Responsibility for Contract Administration and Servicing. The Servicer shall service and administer the Contracts and, subject to the terms of this Agreement, shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such servicing and administration. Subject to Section 5.02, without limiting the generality of the foregoing, the Servicer hereby is authorized and empowered when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Certificateholders and the Trustee or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments, with respect to the Contracts and any related Mortgages and with respect to the Manufactured Homes and any related Mortgaged Property. The Trustee shall execute and deliver to the Servicer any powers of attorney and other documents prepared by the Servicer and certified to the Trustee as being necessary or appropriate to enable the Servicer to service and administer the Contracts. Such power of attorney shall be in the form of Exhibit L hereto. The Servicer may perform its servicing and administration functions, as Servicer, pursuant to this Agreement through one or more subservicers. All actions by any subservicer with respect to the servicing and administration of the Contracts shall be treated as though done by the Servicer itself. All documents, instruments or contracts executed by any subservicer on behalf of the Servicer shall be treated by the Trustee as though executed by the Servicer itself. The Servicer shall remain primarily liable for all actions of any subservicer.