Common use of ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Clause in Contracts

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The Servicer to act as Servicer.............................70 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and Collection of Proceeds............75 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage Loans..................................................76 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.12

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 2.01 Servicer to act Act as Servicer.............................70 ...........................14 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 2.02 Collection of Proceeds............75 Mortgage Loan Payments..................15 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 2.03 Realization Upon Defaulted Mortgage Loans.............15 Section 2.04 Collection Account....................................16 Section 2.05 Permitted Withdrawals From the Collection Account.....18 Section 2.06 Establishment of Escrow Accounts; Determination Deposits in Escrow Accounts.....................................19 Section 2.07 Permitted Withdrawals From Escrow Account.............19 Section 2.08 Payment of Excess Liquidation Proceeds Taxes, Insurance and Realized LossesOther Charges; Repurchases of Certain Mortgage Loans..................................................76 Collections Thereunder..............................19 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 2.01 Servicer to act Act as Servicer.............................70 ; Subservicing................................................15 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 2.02 Collection of Proceeds............75 Mortgage Loan Payments.....................................................17 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 2.03 Realization Upon Defaulted Mortgage Loans................................................18 Section 2.04 Collection Account.......................................................................19 Section 2.05 Permitted Withdrawals From the Collection Account........................................20 Section 2.06 Establishment of Escrow Accounts; Determination Deposits in Escrow Accounts............................21 Section 2.07 Permitted Withdrawals From Escrow Account................................................21 Section 2.08 Payment of Excess Liquidation Proceeds Taxes, Insurance and Realized LossesOther Charges; Repurchases of Certain Mortgage Loans..................................................76 Collections Thereunder....................22 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 7.01 The Servicer to act as Servicer.............................70 ; Term.............................................62 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 7.02 Collection of Proceeds............75 Certain Mortgage Loan Payments; Collection Account........................................63 Section 3.07 Maintenance of the Primary Mortgage 7.03 Reserved.......................................................64 Section 7.04 Hazard Insurance Policies; Collections Thereunder.................................75 Property Protection Expenses........64 Section 3.08 Reserved....................................................76 7.05 Assumption and Modification Agreements.........................65 Section 3.09 7.06 Realization Upon Defaulted Mortgage Loans......................66 Section 7.07 Indenture Trustee to Cooperate.................................67 Section 7.08 Servicing Compensation; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases Payment of Certain Mortgage Loans..................................................76 Expenses by Servicer......................................67 Section 3.10 7.09 Annual Statement as to Compliance..............................68 Section 7.10 Annual Independent Public Accountants' Servicing Compensation......................................79 Report..........................................68 Section 3.11 REO Property................................................80 7.11 Access to Certain Documentation................................68 Section 3.127.12 Maintenance of Fidelity Bond...................................68

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 4.01 The Servicer to act Act as Servicer.............................70 ............................. Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 4.02 Collection of Proceeds............75 Mortgage Loan Payments........................ Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 4.03 Realization Upon Defaulted Mortgage Loans................... Section 4.04 Establishment of Custodial Accounts; Determination Deposits in Custodial Accounts.................................................... Section 4.05 Permitted Withdrawals From the Custodial Account............ Section 4.06 Establishment of Excess Liquidation Proceeds Escrow Accounts; Deposits in Accounts...... Section 4.07 Permitted Withdrawals From the Escrow Account............... Section 4.08 Payment of Taxes, Insurance and Realized LossesCharges; Repurchases Maintenance of Certain Primary Mortgage Loans..................................................76 Insurance or LPMI Policies; Collections Thereunder.................................................. Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.124.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 2.01 Servicer to act Act as Servicer.............................70 ...........................15 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 2.02 Collection of Proceeds............75 Mortgage Loan Payments..................17 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 2.03 Realization Upon Defaulted Mortgage Loans.............18 Section 2.04 Collection Account....................................19 Section 2.05 Permitted Withdrawals From the Collection Account.....20 Section 2.06 Establishment of Escrow Accounts; Determination Deposits in Escrow Accounts.....................................21 Section 2.07 Permitted Withdrawals From Escrow Account.............21 Section 2.08 Payment of Excess Liquidation Proceeds Taxes, Insurance and Realized LossesOther Charges; Repurchases of Certain Mortgage Loans..................................................76 Collections Thereunder..............................22 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 59 SECTION 3.01 The Servicer to act Act as Servicer.............................70 Section ...........................................................59 SECTION 3.02 DueSub-onServicing Agreements Between Servicer and Sub-Sale Clauses; Assumption Agreements..................71 Section Servicers...........................61 SECTION 3.03 Subservicers................................................72 Section Successor Sub-Servicers...............................................................62 SECTION 3.04 Documents, Records and Funds in Possession Liability of the Servicer To Be Held for Servicer.............................................................62 SECTION 3.05 No Contractual Relationship Between Sub-Servicers, the Trustee or the Certificateholders....................................................................63 SECTION 3.06 Assumption or Termination of Sub-Servicing Agreements by the Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and ..................63 SECTION 3.07 Collection of Proceeds............75 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage Loans..................................................76 Section Loan Payments..........................................64 SECTION 3.08 Sub-Servicing Accounts................................................................64 SECTION 3.09 Collection of Taxes, Assessments and Similar Items; Servicing Accounts................64 SECTION 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.12Custodial Account and Certificate Account.............................................65 TABLE OF CONTENTS (continued) PAGE

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The SECTION 3.01. Master Servicer to act Act as Master Servicer.............................70 Section 3.02 Due.....................63 SECTION 3.02. Sub-onServicing Agreements Between Master Servicer and Sub-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession Servicers........................................65 SECTION 3.03. Successor Sub-Servicers.......................................66 SECTION 3.04. Liability of the Servicer To Be Held for Master Servicer..............................66 SECTION 3.05. No Contractual Relationship Between Sub-Servicers and the NIMS Insurer, the Trustee or Certificateholders...............67 SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and ....................................................67 SECTION 3.07. Collection of Proceeds............75 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage Loans..................................................76 Section 3.10 Loan Payments..................67 SECTION 3.08. Sub-Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.12Accounts........................................68 SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................69 SECTION 3.10. Collection Account, Initial Deposit Account and Distribution

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 2.01 Servicer to act Act as Servicer.............................70 ..............................................................14 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 2.02 Collection of Proceeds............75 Mortgage Loan Payments.....................................................15 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 2.03 Realization Upon Defaulted Mortgage Loans................................................16 Section 2.04 Collection Account.......................................................................17 Section 2.05 Permitted Withdrawals From the Collection Account........................................18 Section 2.06 Establishment of Escrow Accounts; Determination Deposits in Escrow Accounts............................19 Section 2.07 Permitted Withdrawals From Escrow Account................................................19 Section 2.08 Payment of Excess Liquidation Proceeds Taxes, Insurance and Realized LossesOther Charges; Repurchases of Certain Mortgage Loans..................................................76 Collections Thereunder....................20 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 4.01 The Servicer to act Act as Servicer.............................70 .................................. Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 4.02 Collection of Proceeds............75 Mortgage Loan Payments............................. Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 4.03 Realization Upon Defaulted Mortgage Loans........................ Section 4.04 Establishment of Custodial Accounts; Determination Deposits in Custodial Accounts............................................. Section 4.05 Permitted Withdrawals From the Custodial Account................. Section 4.06 Establishment of Excess Liquidation Proceeds Escrow Accounts; Deposits in Accounts........... Section 4.07 Permitted Withdrawals From the Escrow Account.................... Section 4.08 Payment of Taxes, Insurance and Realized LossesCharges; Repurchases Maintenance of Certain Primary Mortgage Loans..................................................76 Insurance or LPMI Policies; Collections Thereunder..................................................... Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.124.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The Servicer to act Act as Servicer.............................70 ; Special Servicer to Act as Special Servicer; Administration of the Mortgage Loans............................................... Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession Liability of the Servicer To Be Held for Trustee........................73 and Special Servicer............... Section 3.03 Collection of Certain Mortgage Loan Payments................. Section 3.04 Collection of Taxes, Assessments and Similar Items; Escrow Accounts.............................................. Section 3.05 Collection Account, Distribution Account, Upper-Tier Distribution Account, Excess Interest Distribution Account and Repurchase Price Return of Premium Distribution Account................................. Section 3.06 Permitted Withdrawals from the Collection Account............ Section 3.07 Investment of Funds in the Collection Account and Borrower Accounts............................................ Section 3.08 Maintenance of Fire Insurance; Insurance Policies and Errors and Omissions and Fidelity Coverage......................................74 .............................. Section 3.06 Presentment of Claims and Collection of Proceeds............75 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage Loans..................................................76 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.123.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 2.01 Servicer to act Act as Servicer.............................70 ..............................................................14 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 2.02 Collection of Proceeds............75 Mortgage Loan Payments.....................................................15 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 2.03 Realization Upon Defaulted Mortgage Loans................................................15 Section 2.04 Collection Account.......................................................................16 Section 2.05 Permitted Withdrawals From the Collection Account........................................18 Section 2.06 Establishment of Escrow Accounts; Determination Deposits in Escrow Accounts............................19 Section 2.07 Permitted Withdrawals From Escrow Account................................................19 Section 2.08 Payment of Excess Liquidation Proceeds Taxes, Insurance and Realized LossesOther Charges; Repurchases of Certain Mortgage Loans..................................................76 Collections Thereunder....................19 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 3.01. Master Servicer to act Act as Master Servicer.............................70 .............................................58 Section 3.02 Due3.02. Sub-onServicing Agreements Between Master Servicer and Sub-Sale Clauses; Assumption Agreements..................71 Servicers.........................................................................60 Section 3.03 Subservicers................................................72 3.03. Successor Sub-Servicers...............................................................61 Section 3.04 Documents, Records and Funds in Possession 3.04. Liability of the Servicer To Be Held for Master Servicer......................................................61 Section 3.05. No Contractual Relationship Between Sub-Servicers and the Trustee or Certificateholders....................................................................62 Section 3.06. Assumption or Termination of Sub-Servicing Agreements by Trustee........................73 ......................62 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 3.07. Collection of Proceeds............75 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage Loans..................................................76 Loan Payments..........................................62 Section 3.10 3.08. Sub-Servicing Compensation......................................79 Accounts................................................................63 Section 3.11 REO Property................................................80 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts..............................................................................64 Section 3.123.10. Collection Account and Distribution Account...........................................64 Section 3.11. Withdrawals from the Collection Account and Distribution Account......................67

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 2.01 Servicer to act Act as Servicer.............................70 ....................................................................14 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 2.02 Collection of Proceeds............75 Mortgage Loan Payments...........................................................15 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 2.03 Realization Upon Defaulted Mortgage Loans......................................................16 Section 2.04 Collection Account.............................................................................17 Section 2.05 Permitted Withdrawals From the Collection Account..............................................18 Section 2.06 Establishment of Escrow Accounts; Determination Deposits in Escrow Accounts..................................19 Section 2.07 Permitted Withdrawals From Escrow Account......................................................19 Section 2.08 Payment of Excess Liquidation Proceeds Taxes, Insurance and Realized LossesOther Charges; Repurchases of Certain Mortgage Loans..................................................76 Collections Thereunder..........................20 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The Servicer 4.01 Seller to act Act as Servicer.............................70 ................................30 Section 3.02 Due-on-Sale Clauses4.02 Collection of Mortgage Loan Payments.....................32 Section 4.03 Realization Upon Defaulted Mortgage Loans................32 Section 4.04 Establishment of Custodial Accounts; Assumption Agreements..................71 Deposits in Custodial Accounts...........................33 Section 3.03 Subservicers................................................72 4.05 Permitted Withdrawals From the Custodial Account.........35 Section 3.04 Documents4.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts.......................................36 Section 4.07 Permitted Withdrawals From Escrow Account................36 Section 4.08 Payment of Taxes, Records Insurance and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Other Charges; Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and Collection of Proceeds............75 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 ...................................37 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage Loans..................................................76 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.124.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 2.01 Servicer to act Act as Servicer.............................70 ....................................................................14 Section 3.02 Due-on-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and 2.02 Collection of Proceeds............75 Mortgage Loan Payments...........................................................15 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 2.03 Realization Upon Defaulted Mortgage Loans......................................................16 Section 2.04 Collection Account.............................................................................17 Section 2.05 Permitted Withdrawals From the Collection Account..............................................18 Section 2.06 Tax Service Contracts; Determination Establishment of Excess Liquidation Proceeds Escrow Accounts; Deposits in Escrow Accounts...........19 Section 2.07 Permitted Withdrawals From Escrow Account......................................................19 Section 2.08 Payment of Taxes, Insurance and Realized LossesOther Charges; Repurchases of Certain Mortgage Loans..................................................76 Collections Thereunder..........................20 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.09

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. ..6 Section 3.01 2.01. Contract for Servicing; Possession of Servicing Files......................6 Section 2.02. Commencement of Servicing Responsibilities.................................7 Section 2.03. The Servicer to act Act as Servicer.............................70 ............................................7 Section 3.02 Due2.04. Collection of Mortgage Loan Payments.......................................8 Section 2.05. Foreclosure................................................................8 Section 2.06. Sub-on-Sale Clauses; Assumption Servicing Agreements..................71 ...................................................9 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession of the Servicer To Be Held for Trustee........................73 Section 3.05 2.07. Maintenance of Fire Hazard Insurance; ............................................9 Section 2.08. Maintenance of PMI Policy.................................................10 Section 2.09. Fidelity Bond and Errors and Omissions Insurance..........................11 Section 2.10. Establishment of and Fidelity Coverage......................................74 Deposits to Collection Account.......................11 Section 3.06 Presentment 2.11. Permitted Withdrawals from Collection Account.............................12 Section 2.12. Establishment of Claims and Collection of Proceeds............75 Deposits to Escrow Account...........................13 Section 3.07 2.13. Permitted Withdrawals from Escrow Account.................................13 Section 2.14. Maintenance of the Primary FHA Mortgage Insurance Policies; Collections Thereunder.................................75 and VA Guaranty.....................14 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage Loans..................................................76 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.122.15.

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The 3.01. Master Servicer to act Act as Master Servicer.............................70 Section 3.02 Due....................................................-59- 3.02. Sub-onServicing Agreements Between Master Servicer and Sub-Sale Clauses; Assumption Agreements..................71 Section 3.03 Subservicers................................................72 Section 3.04 Documents, Records and Funds in Possession Servicers...........................-60- 3.03. Successor Sub-Servicers......................................................................-62- 3.04. Liability of the Servicer To Be Held for Master Servicer.............................................................-62- 3.05. No Contractual Relationship Between Sub-Servicers and Trustee or Certificateholders................................................................-62- 3.06. Assumption or Termination of Sub-Servicing Agreements by Trustee........................73 Section 3.05 Maintenance of Fire Insurance; Errors and Omissions and Fidelity Coverage......................................74 Section 3.06 Presentment of Claims and .............................-63- 3.07. Collection of Proceeds............75 Section 3.07 Maintenance of the Primary Mortgage Insurance Policies; Collections Thereunder.................................75 Section 3.08 Reserved....................................................76 Section 3.09 Realization Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Mortgage LoansLoan Payments.................................................-63- 3.08. Sub-Servicing Accounts.......................................................................-64- 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts.......................-64- 3.10. Collection Account and Distribution Account..................................................76 Section 3.10 Servicing Compensation......................................79 Section 3.11 REO Property................................................80 Section 3.12-65- SECTION PAGE ------- ----