SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 3 Section 2.1 Sale of Mortgage Loans............................................3 Section 2.2 Payment of Purchase Price.........................................5
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 3 Section 2.1 Sale of Initial Mortgage Loans........................................3 Section 2.2 Sale of Subsequent Mortgage Loans.....................................6 Section 2.3 Payment of Purchase Price.............................................9 Section 2.4 [Reserved]...........................................................11 Section 2.5 Draws During Rapid Amortization Period...............................11
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1 Sale of Initial Mortgage Loans.
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 2 Section 2.01 Sale of Initial Mortgage Loans and MI Policies. 2 Section 2.02 Conveyance of the Subsequent Mortgage Loans. 5 Section 2.03 Pre-Funding Account. 9 Section 2.04 Interest Coverage Account 10 ARTICLE III REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH 10 Section 3.01 Sponsor Representations and Warranties. 10 Section 3.02 Depositor Representations and Warranties. 29 ARTICLE IV SPONSOR’S COVENANTS 30 Section 4.01 Covenants of the Sponsor. 30 Section 4.02 Payment of Expenses. 30 ARTICLE V CONDITIONS TO INITIAL MORTGAGE LOAN PURCHASE 31 Section 5.01 Conditions of Depositor’s Obligations. 31 ARTICLE VI INDEMNIFICATION BY THE SPONSOR WITH RESPECT TO THE MORTGAGE LOANS 32 Section 6.01 Indemnification With Respect to the Mortgage Loans. 32 Section 6.02 Limitation on Liability of the Sponsor. 32 ARTICLE VII TERMINATION 32 Section 7.01 Termination. 32 ARTICLE VIII MISCELLANEOUS PROVISIONS 34 Section 8.01 Amendment. 34 Section 8.02 Governing Law. 34 Section 8.03 Notices. 34 Section 8.04 Severability of Provisions. 35 Section 8.05 Relationship of Parties. 35 Section 8.06 Counterparts. 35 Section 8.07 Further Agreements. 35 Section 8.08 Intention of the Parties. 36 Section 8.09 Successors and Assigns; Assignment of Purchase Agreement. 36 Section 8.10 Survival. 37 Section 8.11 Liability of the Trustee. 37 EXHIBIT 1 Initial Mortgage Loan Schedule EXHIBIT 2(A) Sponsor’s Subsequent Transfer Instrument EXHIBIT 2(B) Depositor’s Subsequent Transfer Instrument THIS MORTGAGE LOAN PURCHASE AGREEMENT (this “Purchase Agreement”), dated as of November 1, 2006, is made among NovaStar Mortgage, Inc. (the “Sponsor”), NovaStar Mortgage Funding Corporation (the “Depositor”), U.S. Bank National Association (the “Custodian”) and Deutsche Bank National Trust Company as trustee (the “Trustee”).
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1 Sale of Mortgage Loans 2 Section 2.2 Payment of Purchase Price for the Mortgage Loans 5 ARTICLE III
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 2 Section 2.01 Sale of Initial Mortgage Loans and MI Policies............... 2 Section 2.02 Conveyance of the Subsequent Mortgage Loans.................. 5 Section 2.03 Pre-Funding Account.......................................... 9
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1 Sale of Mortgage Loans. Section 2.2 Agreement to Purchase.
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1.
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1. Sale of Initial Mortgage Loans.................................16 Section 2.2. Obligations Regarding the Mortgage Loans.......................16 Section 2.3. Conveyance of the Subsequent Mortgage Loans....................19 Section 2.4. Pre-Funding Account............................................22 Section 2.5. Interest Coverage Account......................................23
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.01 Sale of Initial Mortgage Loans, MI Policies and Cap Agreements.
