Common use of Servicing and Administration of Mortgage Loans Clause in Contracts

Servicing and Administration of Mortgage Loans. Section 8.01 Master Servicer and Sub-Servicers. Acting directly or through one or more Sub-Servicers as provided in Section 8.03, the Master Servicer shall service and administer the Mortgage Loans as described below and with reasonable care, and using that degree of skill and attention that the Master Servicer exercises with respect to comparable mortgage loans that it services for itself or others (the "Servicing Standard"), and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions the Master Servicer shall (i) take into account the non-conforming credit quality of the Mortgagors under the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Master Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, and (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent. Each of CSC and Fairbanks currently uses the FNMA Guide and the BFC Investor Guide as its servicing manual. To the extent the Master Servicer enters into a Sub-Servicing Agreement with any additional servicer pursuant to Section 8.03 of this Agreement, the Master Servicer shall provide the Certificate Insurer with a copy of the servicing manual or procedures for each additional Sub-Servicer within thirty days from the date of such Sub-Servicing Agreement. Subject to Section 8.03 hereof, the Master Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a Sub-Servicer as it may from time to time designate, but no such designation of a Sub-Servicer shall serve to release the Master Servicer from any of its obligations under this Agreement. Subject to the related Sub-Servicing Agreement, such Sub-Servicer shall have all the rights and powers of the Master Servicer with respect to such Mortgage Loans under this Agreement. Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, the Master Servicer in its own name or in the name of a Sub-Servicer may be authorized and empowered pursuant to a power of attorney executed and delivered by the Trustee to execute and deliver, and may be authorized and empowered by the Trustee, to execute and deliver, on behalf of itself, the Owners and the Trustee or any of them, (i) 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 Mortgage Loans and with respect to the Mortgaged Properties, and (ii) to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to effect ownership of any Mortgaged Property in the name of the Trustee; provided, however, that to the extent any instrument described in clause (i) preceding would be delivered by the Master Servicer outside of its usual procedures for mortgage loans held in its own portfolio, the Master Servicer shall, prior to executing and delivering such instrument, obtain the prior written consent of the Certificate Insurer, and provided further, that Section 8.14(a) shall constitute an authorization from the Trustee to the Master Servicer to execute an instrument of satisfaction (or assignment of mortgage without recourse) with respect to any Mortgage Loan paid in full (or with respect to which payment in full has been escrowed). The Trustee shall execute any documentation furnished to it by the Master Servicer for recordation by the Master Servicer in the appropriate jurisdictions as shall be necessary to effectuate the foregoing. Subject to Sections 8.13 and 8.14, the Trustee shall execute any authorizations and other documents as the Master Servicer or such Sub-Servicer shall reasonably request that are furnished to the Trustee to enable the Master Servicer and such Sub-Servicer to carry out their respective servicing and administrative duties hereunder. The Master Servicer shall give prompt notice to the Trustee and the Certificate Insurer of any action, of which the Master Servicer has actual knowledge, to (i) assert a claim against the Trust or (ii) assert jurisdiction over the Trust. Servicing Advances incurred by the Master Servicer or any Sub-Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Mortgaged Property shall be recoverable by the Master Servicer or such Sub-Servicer to the extent described in Section 8.09(b) hereof. Notwithstanding any other provision contained herein, with respect to the Actuarial Loans, payments due other than on the first day of a month are deemed to be due on the first day of the month for all purposes hereunder.

Servicing and Administration of Mortgage Loans. Section 8.01 Master Servicer and Sub-Servicers. Acting directly or through one or more Sub-Servicers as provided in Section 8.03, the Master Servicer shall service and administer the Mortgage Loans as described below and with reasonable care, and using that degree of skill and attention that the Master Servicer exercises with respect to comparable mortgage loans that it services for itself or others (the "Servicing Standard"), and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions the Master Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgagors under the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Master Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, and (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent. Each of CSC and Fairbanks currently uses the FNMA Guide and the BFC Investor Guide as its servicing manual. To the extent the Master Servicer enters into a Sub-Servicing Agreement with any additional servicer pursuant to Section 8.03 of this Agreement, the Master Servicer shall provide the Certificate Insurer with a copy of the servicing manual or procedures for each additional Sub-Servicer within thirty days from the date of such Sub-Servicing Agreement. Subject to Section 8.03 hereof, the Master Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a Sub-Servicer as it may from time to time designate, but no such designation of a Sub-Servicer shall serve to release the Master Servicer from any of its obligations under this Agreement. Subject to the related Sub-Servicing Agreement, such Sub-Servicer shall have all the rights and powers of the Master Servicer with respect to such Mortgage Loans under this Agreement. Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, the Master Servicer in its own name or in the name of a Sub-Servicer may be authorized and empowered pursuant to a power of attorney executed and delivered by the Trustee to execute and deliver, and may be authorized and empowered by the Trustee, to execute and deliver, on behalf of 84 itself, the Owners and the Trustee or any of them, (i) 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 Mortgage Loans and with respect to the Mortgaged Properties, and (ii) to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to effect ownership of any Mortgaged Property in the name of the Trustee; provided, however, that to the extent any instrument described in clause (i) preceding would be delivered by the Master Servicer outside of its usual procedures for mortgage loans held in its own portfolio, the Master Servicer shall, prior to executing and delivering such instrument, obtain the prior written consent of the Certificate Insurer, and provided further, that Section 8.14(a) shall constitute an authorization from the Trustee to the Master Servicer to execute an instrument of satisfaction (or assignment of mortgage without recourse) with respect to any Mortgage Loan paid in full (or with respect to which payment in full has been escrowed). The Trustee shall execute any documentation furnished to it by the Master Servicer for recordation by the Master Servicer in the appropriate jurisdictions as shall be necessary to effectuate the foregoing. Subject to Sections 8.13 and 8.14, the Trustee shall execute any authorizations and other documents as the Master Servicer or such Sub-Servicer shall reasonably request that are furnished to the Trustee to enable the Master Servicer and such Sub-Servicer to carry out their respective servicing and administrative duties hereunder. The Master Servicer shall give prompt notice to the Trustee and the Certificate Insurer of any action, of which the Master Servicer has actual knowledge, to (i) assert a claim against the Trust or (ii) assert jurisdiction over the Trust. Servicing Advances incurred by the Master Servicer or any Sub-Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Mortgaged Property shall be recoverable by the Master Servicer or such Sub-Servicer to the extent described in Section 8.09(b) hereof. Notwithstanding any other provision contained herein, with respect to the Actuarial Loans, payments due other than on the first day of a month are deemed to be due on the first day of the month for all purposes hereunder.

Servicing and Administration of Mortgage Loans. Section 8.01 Master Servicer and Sub-Servicers. Acting directly or through one or more Sub-Servicers as provided in Section 8.03, the Master Servicer shall service and administer the Mortgage Loans as described below in accordance with this Agreement and with reasonable care, and using that degree of skill and attention that the Master Servicer exercises with respect to comparable mortgage loans that it services for itself or others (servicing standards set forth in the "Servicing Standard"), FNMA Guide and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem in its reasonable opinion, necessary or desirable. In performing such servicing functions It is the intent of the parties hereto that the Master Servicer shall (i) take into account the non-conforming credit quality have all of the Mortgagors servicing obligations hereunder which a lender would have under the Mortgage LoansFNMA Guide (as such provisions relate to first or second lien mortgages); provided, (ii) follow however, that to the policies extent that such standards, such obligations or the FNMA Guide are amended by FNMA after the date hereof and procedures that it the effect of such amendment would apply be to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case impose upon the Master Servicer shall service the loans generally in accordance with standard industry practices applicable any material additional costs or other burdens relating to such servicing similar loans, and (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent. Each of CSC and Fairbanks currently uses the FNMA Guide and the BFC Investor Guide as its servicing manual. To the extent the Master Servicer enters into a Sub-Servicing Agreement with any additional servicer pursuant to Section 8.03 of this Agreementobligations, the Master Servicer shall provide the Certificate Insurer may, at its option, determine not to comply with a copy of the servicing manual or procedures for each additional Sub-Servicer within thirty days from the date of such Sub-Servicing Agreementamendment. Subject to Section 8.03 hereof, the Master Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a Sub-Servicer as it may from time to time designate, but no such designation of a Sub-Servicer shall serve to release the Master Servicer from any of its obligations under this Agreement. Subject to the related Sub-Servicing Agreement, such Sub-Such Sub- Servicer shall have all the rights and powers of the Master Servicer with respect to such Mortgage Loans under this Agreement. Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, the Master Servicer in its own name or in the name of a Sub-Servicer may be authorized and empowered pursuant to a power of attorney executed and delivered by the Trustee to execute and deliver, and may be authorized and empowered by the Trustee, to execute and deliver, on behalf of itself, the Owners and the Trustee or any of them, (i) 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 Mortgage Loans and with respect to the Mortgaged Properties, and (ii) to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to effect ownership of any Mortgaged Property in the name of the Trustee; provided, however, that to the extent any instrument described in clause (i) preceding would be delivered by the Master Servicer outside of its usual procedures for mortgage loans held in its own portfolio, the Master Servicer shall, prior to executing and delivering such instrument, obtain the prior written consent of the Certificate Insurer, and provided further, however, that Section 8.14(a) shall constitute an authorization from the Trustee to the Master Servicer to execute an instrument of satisfaction (or assignment of mortgage without recourse) with respect to any Mortgage Loan paid in full (or with respect to which payment in full has been escrowed). The Trustee shall execute any documentation furnished to it by the Master Servicer for recordation by the Master Servicer in the appropriate jurisdictions as shall be necessary to effectuate the foregoing. Subject to Sections 8.13 and 8.14, the Trustee shall execute any authorizations and other documents as the Master Servicer or such Sub-Servicer shall reasonably request that are furnished to the Trustee to enable the Master Servicer and such Sub-Servicer to carry out their respective servicing and administrative duties hereunder. The Master Servicer shall give prompt notice to the Trustee and the Certificate Insurer of any action, of which the Master Servicer has actual knowledge, to (i) assert a claim against the Trust or (ii) assert jurisdiction over the Trust. Servicing Advances incurred by the Master Servicer or any Sub-Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Mortgaged Property shall be recoverable by the Master Servicer or such Sub-Servicer to the extent described in Section 8.09(b) hereof. Notwithstanding any other provision contained herein, with respect to the Actuarial Loans, payments due other than on the first day of a month are deemed to be due on the first day of the month for all purposes hereunder.

Servicing and Administration of Mortgage Loans. Section 8.01 Master Servicer and Sub-Servicers. Acting directly or through one or more Sub-Servicers as provided in Section 8.03, the Master Servicer shall service and administer the Mortgage Loans as described below in accordance with this Agreement and with reasonable care, and using that degree of skill and attention that the Master Servicer exercises with respect to comparable mortgage loans that it services for itself or others (servicing standards set forth in the "Servicing Standard"), FNMA Guide and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem in its reasonable opinion, necessary or desirable. In performing such servicing functions It is the intent of the parties hereto that the Master Servicer shall (i) take into account the non-conforming credit quality have all of the Mortgagors servicing obligations hereunder which a lender would have under the Mortgage LoansFNMA Guide (as such provisions relate to second lien mortgages); provided, (ii) follow however, that to the policies extent that such standards, such obligations or the FNMA Guide are amended by FNMA after the date hereof and procedures that it the effect of such amendment would apply be to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case impose upon the Master Servicer shall service the loans generally in accordance with standard industry practices applicable any material additional costs or other burdens relating to such servicing similar loans, and (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent. Each of CSC and Fairbanks currently uses the FNMA Guide and the BFC Investor Guide as its servicing manual. To the extent the Master Servicer enters into a Sub-Servicing Agreement with any additional servicer pursuant to Section 8.03 of this Agreementobligations, the Master Servicer shall provide the Certificate Insurer may, at its option, determine not to comply with a copy of the servicing manual or procedures for each additional Sub-Servicer within thirty days from the date of such Sub-Servicing Agreementamendment. Subject to Section 8.03 hereof, the Master Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a Sub-Servicer as it may from time to time designate, but no such designation of a Sub-Servicer shall serve to release the Master Servicer from any of its obligations under this Agreement. Subject to the related Sub-Servicing Agreement, such Such Sub-Servicer shall have all the rights and powers of the Master Servicer with respect to such Mortgage Loans under this Agreement. Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, the Master Servicer in its own name or in the name of a Sub-Servicer may be authorized and empowered pursuant to a power of attorney executed and delivered by the Trustee to execute and deliver, and may be authorized and empowered by the Trustee, to execute and deliver, on behalf of itself, the Owners and the Trustee or any of them, (i) 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 Mortgage Loans and with respect to the Mortgaged Properties, and (ii) to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to effect ownership of any Mortgaged Property in the name of the Trustee; provided, however, [that to the extent any instrument described in clause (i) preceding would be delivered by the Master Servicer outside of its usual procedures for mortgage loans held in its own portfolio, the Master Servicer shall, prior to executing and delivering such instrument, obtain the prior written consent of the Certificate Insurer, and provided further, however,] that Section 8.14(a) shall constitute an authorization from the Trustee to the Master Servicer to execute an instrument of satisfaction (or assignment of mortgage without recourse) with respect to any Mortgage Loan paid in full (or with respect to which payment in full has been escrowed). The Trustee shall execute any documentation furnished to it by the Master Servicer for recordation by the Master Servicer in the appropriate jurisdictions as shall be necessary to effectuate the foregoing. Subject to Sections 8.13 and 8.14, the Trustee shall execute any authorizations and other documents as the Master Servicer or such Sub-Servicer shall reasonably request that are furnished to the Trustee to enable the Master Servicer and such Sub-Servicer to carry out their respective servicing and administrative duties hereunder. The Master Servicer shall give prompt notice to the Trustee and the Certificate Insurer of any action, of which the Master Servicer has actual knowledge, to (i) assert a claim against the Trust or (ii) assert jurisdiction over the Trust. Servicing Advances incurred by the Master Servicer or any Sub-Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Mortgaged Property shall be recoverable by the Master Servicer or such Sub-Servicer to the extent described in Section 8.09(b) hereof. Notwithstanding any other provision contained herein, with respect to the Actuarial Loans, payments due other than on the first day of a month are deemed to be due on the first day of the month for all purposes hereunder.

Servicing and Administration of Mortgage Loans. Section 8.01 Master Servicer and Sub-Servicers. Acting directly or through one or more Sub-Servicers servicers as provided in Section 8.03, the Master Servicer shall service and administer the Mortgage Loans as described below and with reasonable care, and using that degree of skill and attention that the Master Servicer exercises with respect to comparable mortgage loans that it services for itself or others (the "Servicing Standard"), and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions the Master Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgagors under the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Master Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, and (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent. Each The Master Servicer shall provide the Certificate Insurer with copies of CSC and Fairbanks the servicing manual or procedures for Option One within thirty days of the Closing Date. NFI currently uses the FNMA Guide and the BFC Investor Guide as its servicing manual. To the extent the Master Servicer enters into a Sub-Servicing Agreement with any additional servicer pursuant to Section 8.03 of this Agreement, the Master Servicer shall provide the Certificate Insurer with a copy of the servicing manual or procedures for each additional Subsub-Servicer servicer within thirty days from the date of such Sub-Servicing Agreement. Subject to Section 8.03 hereof, the Master Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a Sub-Servicer as it may from time to time designate, but no such designation of a Sub-Servicer shall serve to release the Master Servicer from any of its obligations under this Agreement. Subject to the related Sub-Servicing Agreement, such Such Sub-Servicer shall have all the rights and powers of the Master Servicer with respect to such Mortgage Loans under this Agreement. Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, the Master Servicer in its own name or in the name of a Sub-Servicer may be authorized and empowered pursuant to a power of attorney executed and delivered by the Trustee to execute and deliver, and may be authorized and empowered by the Trustee, to execute and deliver, on behalf of itself, the Owners and the Trustee or any of them, (i) 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 Mortgage Loans and with respect to the Mortgaged Properties, and (ii) to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to effect ownership of any Mortgaged Property in the name of the Trustee; provided, however, that to the extent any instrument described in clause (i) preceding would be delivered by the Master Servicer outside of its usual procedures for mortgage loans held in its own portfolio, the Master Servicer shall, prior to executing and delivering such instrument, obtain the prior written consent of the Certificate Insurer, and provided further, however, that Section 8.14(a) shall constitute an authorization from the Trustee to the Master Servicer to execute an instrument of satisfaction (or assignment of mortgage without recourse) with respect to any Mortgage Loan paid in full (or with respect to which payment in full has been escrowed). The Trustee shall execute any documentation furnished to it by the Master Servicer for recordation by the Master Servicer in the appropriate jurisdictions as shall be necessary to effectuate the foregoing. Subject to Sections 8.13 and 8.14, the Trustee shall execute any authorizations and other documents as the Master Servicer or such Sub-Servicer shall reasonably request that are furnished to the Trustee to enable the Master Servicer and such Sub-Servicer to carry out their respective servicing and administrative duties hereunder. The Master Servicer shall give prompt notice to the Trustee and the Certificate Insurer of any action, of which the Master Servicer has actual knowledge, to (i) assert a claim against the Trust or (ii) assert jurisdiction over the Trust. Servicing Advances incurred by the Master Servicer or any Sub-Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Mortgaged Property shall be recoverable by the Master Servicer or such Sub-Servicer to the extent described in Section 8.09(b) hereof. Notwithstanding any other provision contained herein, with respect to the Actuarial Loans, payments due other than on the first day of a month are deemed to be due on the first day of the month for all purposes hereunder.

Servicing and Administration of Mortgage Loans. Section 8.01 Master Servicer and Sub-Servicers. Acting directly or through one or more Sub-Servicers as provided in Section 8.03, the Master Servicer shall service and administer the Mortgage Loans as described below and with reasonable care, and using that degree of skill and attention that the Master Servicer exercises with respect to comparable mortgage loans that it services for itself or others (the "Servicing Standard"), and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions the Master Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgagors under the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Master Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, and (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent. Each of CSC and Fairbanks currently uses the FNMA Guide and the BFC Investor Guide as its servicing manual. To the extent the Master Servicer enters into a Sub-Servicing Agreement with any additional servicer pursuant to Section 8.03 of this Agreement, the Master Servicer shall provide the Certificate Insurer with a copy of the servicing manual or procedures for each additional Sub-Servicer within thirty days from the date of such Sub-Servicing Agreement. Subject to Section 8.03 hereof, the Master Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a Sub-Servicer as it may from time to time designate, but no such designation of a Sub-Sub- Servicer shall serve to release the Master Servicer from any of its obligations under this Agreement. Subject to the related Sub-Servicing Agreement, such Such Sub-Servicer shall have all the rights and powers of the Master Servicer with respect to such Mortgage Loans under this Agreement. Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, the Master Servicer in its own name or in the name of a Sub-Servicer may be authorized and empowered pursuant to a power of attorney executed and delivered by the Trustee to execute and deliver, and may be authorized and empowered by the Trustee, to execute and deliver, on behalf of itself, the Owners and the Trustee or any of them, (i) 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 Mortgage Loans and with respect to the Mortgaged Properties, and (ii) to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to effect ownership of any Mortgaged Property in the name of the Trustee; provided, however, that to the extent any instrument described in clause (i) preceding would be delivered by the Master Servicer outside of its usual procedures for mortgage loans held in its own portfolio, the Master Servicer shall, prior to executing and delivering such instrument, obtain the prior written consent of the Certificate Insurer, and provided further, however, that Section 8.14(a) shall constitute an authorization from the Trustee to the Master Servicer to execute an instrument of satisfaction (or assignment of mortgage without recourse) with respect to any Mortgage Loan paid in full (or with respect to which payment in full has been escrowed). The Trustee shall execute any documentation furnished to it by the Master Servicer for recordation by the Master Servicer in the appropriate jurisdictions as shall be necessary to effectuate the foregoing. Subject to Sections 8.13 and 8.14, the Trustee shall execute any authorizations and other documents as the Master Servicer or such Sub-Servicer shall reasonably request that are furnished to the Trustee to enable the Master Servicer and such Sub-Servicer to carry out their respective servicing and administrative duties hereunder. The Master Servicer shall give prompt notice to the Trustee and the Certificate Insurer of any action, of which the Master Servicer has actual knowledge, to (i) assert a claim against the Trust or (ii) assert jurisdiction over the Trust. Servicing Advances incurred by the Master Servicer or any Sub-Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Mortgaged Property shall be recoverable by the Master Servicer or such Sub-Servicer to the extent described in Section 8.09(b) hereof. Notwithstanding any other provision contained herein, with respect to the Actuarial Loans, payments due other than on the first day of a month are deemed to be due on the first day of the month for all purposes hereunder.