Common use of Sale of Initial Mortgage Loans Clause in Contracts

Sale of Initial Mortgage Loans. The Seller hereby sells, and the Company hereby purchases on the Closing Date, the Initial Mortgage Loans identified on the Mortgage Loan Schedule annexed hereto as Exhibit 1. In addition, the Seller shall deposit with the Indenture Trustee from proceeds of the issuance of the Notes on the Closing Date (i) the Original Pre-Funded Amount for deposit in the Pre- Funding Account and (ii) the Interest Coverage Amount for deposit in the Interest Coverage Account. The Initial Mortgage Loans will be fixed and adjustable rate, residential first lien mortgage loans. The Initial Mortgage Loans will have a Principal Balance as of the close of business on the Cut-off Date, after giving effect to any payments due on or before such date whether or not received, of approximately $76,168,676.59. The sale of the Initial Mortgage Loans will take place on the Closing Date, subject to and simultaneously with the deposit of the Initial Mortgage Loans and the amounts in the Pre-Funding Account and the Interest Coverage Account into the Trust Estate, the issuance of the Securities and the sale of the Notes by the Issuer pursuant to the Underwriting Agreement. The purchase price (the "Purchase Price") for the Initial Mortgage Loans to be paid by the Company to the Seller on the Closing Date shall consist of the following:

Sale of Initial Mortgage Loans. The Seller hereby sells, and the Company hereby purchases on the Closing Date, the Initial Mortgage Loans identified on the Mortgage Loan Schedule annexed hereto as Exhibit 1. In addition, the Seller shall deposit with the Indenture Trustee from proceeds of the issuance of the Notes on the Closing Date (i) the Original Pre-Funded Amount for deposit in the Pre- Pre-Funding Account and (ii) the Interest Coverage Amount for deposit in the Interest Coverage Account. The Initial Mortgage Loans will be fixed and adjustable rate, residential first and second lien mortgage loans. The Initial Mortgage Loans will have a Principal Balance as of the close of business on the Cut-off Date, after giving effect to any payments due on or before such date whether or not received, of approximately $76,168,676.5999,717,402. The sale of the Initial Mortgage Loans will take place on the Closing Date, subject to and simultaneously with the deposit of the Initial Mortgage Loans and the amounts in the Pre-Funding Account and the Interest Coverage Account into the Trust Estate, the issuance of the Securities and the sale of the Notes by the Issuer pursuant to the Underwriting Agreement. The purchase price (the "Purchase Price") for the Initial Mortgage Loans to be paid by the Company to the Seller on the Closing Date shall consist of the following:

Sale of Initial Mortgage Loans. The Seller hereby sells, and the Company hereby purchases on the Closing Date, the Initial Mortgage Loans identified on the Mortgage Loan Schedule annexed hereto as Exhibit 1. In addition, the Seller shall deposit with the Indenture Trustee from proceeds of the issuance of the Notes on the Closing Date (i) the Original Pre-Funded Amount for deposit in the Pre- Funding Account and (ii) the Interest Coverage Amount for deposit in the Interest Coverage Account. The Initial Mortgage Loans will be fixed and adjustable rate, residential first and second lien mortgage loans. The Initial Mortgage Loans will have a Principal Balance as of the close of business on the Cut-off Date, after giving effect to any payments due on or before such date whether or not received, of approximately $76,168,676.5999,717,402. The sale of the Initial Mortgage Loans will take place on the Closing Date, subject to and simultaneously with the deposit of the Initial Mortgage Loans and the amounts in the Pre-Funding Account and the Interest Coverage Account into the Trust Estate, the issuance of the Securities and the sale of the Notes by the Issuer pursuant to the Underwriting Agreement. The purchase price (the "Purchase Price") for the Initial Mortgage Loans to be paid by the Company to the Seller on the Closing Date shall consist of the following:

Sale of Initial Mortgage Loans. (a) The Seller hereby sells, and the Company hereby purchases on the Closing Date, the Initial Mortgage Loans identified (and the related MI Policies) on the Mortgage Loan Schedule annexed hereto as Exhibit 1. In addition, the Seller shall deposit with proceeds thereof and all rights under the Indenture Trustee from proceeds of Related Documents (including the issuance of the Notes on the Closing Date (i) the Original Pre-Funded Amount for deposit in the Pre- Funding Account and (ii) the Interest Coverage Amount for deposit in the Interest Coverage Accountrelated Mortgage Files). The Initial Mortgage Loans will be fixed and adjustable rateconsist of four groups of conventional, residential first lien mortgage loansloans segregated into groups of fixed and adjustable interest rates. The Initial Mortgage Loans will have a Principal Balance as of the close of business on the Cut-off Date, after giving effect to any payments due on or before such date whether or not received, of approximately $76,168,676.59__________________. The sale of the Initial Mortgage Loans will take place on the Closing Date, subject to and simultaneously with the deposit of the Initial Mortgage Loans and the amounts in the Original Pre-Funding Account Funded Amount and the Interest Coverage Account Amount into the Trust Estate, the issuance of the Securities by the Issuer and the sale of the Notes by the Issuer Class A Bonds pursuant to the Underwriting Agreement. The purchase price (the "Purchase Price") for the Initial Mortgage Loans to be paid by the Company to the Seller on the Closing Date shall consist of the following:

Sale of Initial Mortgage Loans. The Seller hereby sells, and the Company hereby purchases on the Closing Date, the Initial Mortgage Loans identified on the Mortgage Loan Schedule annexed hereto as Exhibit 1. In addition, the Seller shall deposit with the Indenture Trustee from proceeds of the issuance of the Notes on the Closing Date (i) the Original Pre-Funded Amount for deposit in the Pre- Funding Account and (ii) the Interest Coverage Amount for deposit in the Interest Coverage Account. The Initial Mortgage Loans will be fixed and adjustable rate, residential first and second lien mortgage loans. The Initial Mortgage Loans will have a Principal Balance as of the close of business on the Cut-off Date, after giving effect to any payments due on or before such date whether or not received, of approximately $76,168,676.5946,076,103. The sale of the Initial Mortgage Loans will take place on the Closing Date, subject to and simultaneously with the deposit of the Initial Mortgage Loans and the amounts in the Pre-Funding Account and the Interest Coverage Account into the Trust Estate, the issuance of the Securities and the sale of the Notes by the Issuer pursuant to the Underwriting Agreement. The purchase price (the "Purchase Price") for the Initial Mortgage Loans to be paid by the Company to the Seller on the Closing Date shall consist of the following: