Common use of Servicer to Service Clause in Contracts

Servicer to Service. (a) The Servicer, as an independent contractor, shall administer the Mortgage Loans from and after the related Closing Date and shall be responsible for Servicing the Mortgage Loans as of the related Closing Date, and shall have full power and authority, acting alone, to do any and all things in connection with such Servicing and administration which the Servicer may deem necessary or desirable, consistent with the terms of this Agreement and with Accepted Servicing Practices, including (without limitation) the execution and delivery, on behalf of itself and the Owner, (i) of all agreements and instruments of subordination, of satisfaction, discharge or cancellation, and of partial or full release; and (ii) of all other comparable agreements and instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties. The Servicer may take any and all actions relative to the Servicing and administration of the Mortgage Loans that are consistent with Accepted Servicing Practices; provided, however, that all Distressed Mortgaged Loans shall be transferred by the Owner when a Mortgage Loan is 90 days delinquent. In the event, the Owner chooses to have the Servicer service Distressed Mortgage Loans, the Owner Servicing Guidelines shall be mutually agreed upon between the Servicer and the Owner pursuant to a side agreement. The Servicer shall provide Owner the reports described on Schedule I, attached hereto and made a part hereof.

Servicer to Service. (a) The Servicer, as an independent contractor, shall administer the Mortgage Loans from and after the related Closing Date and shall be responsible for Servicing the Mortgage Loans as of the related Closing Date, and shall have full power and authority, acting alone, to do any and all things in connection with such Servicing and administration which the Servicer may deem necessary or desirable, consistent with the terms of this Agreement and with Accepted Servicing Practices, including (without limitation) the execution and delivery, on behalf of itself and the Owner, (i) of all agreements and instruments of subordination, of satisfaction, discharge or cancellation, and of partial or full release; and (ii) of all other comparable agreements and instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties. The Servicer may take any and all actions relative to the Servicing and administration of the Mortgage Loans that are consistent with Accepted Servicing Practices; provided, however, that all Distressed Mortgaged Mortgage Loans shall be transferred by the Owner when a Mortgage Loan is 90 days delinquent. In the event, event the Owner chooses to have the Servicer service Distressed Mortgage Loans, the Owner Servicing Guidelines shall be mutually agreed upon between the Servicer and the Owner pursuant to a side agreement. The Servicer shall provide the Owner the reports described on Schedule I, attached hereto and made a part hereof.

Servicer to Service. (a) The Servicer, as an independent contractor, shall administer the Mortgage Loans from and after the related Closing Date and shall be responsible for Servicing the Mortgage Loans as of the related Closing Date, and shall have full power and authority, acting alone, to do any and all things in connection with such Servicing and administration which the Servicer may deem necessary or desirable, consistent with the terms of this Agreement and with Accepted Servicing Practices, including (without limitation) the execution and delivery, on behalf of itself and the Owner, (i) of all agreements and instruments of subordination, of satisfaction, discharge or cancellation, and of partial or full release; and (ii) of all other comparable agreements and instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties. The Servicer may take any and all actions relative to the Servicing and administration of the Mortgage Loans that are consistent with Accepted Servicing Practices; provided, however, that all Distressed Mortgaged Loans shall be transferred by the Owner when a Mortgage Loan is 90 days delinquent. In the event, event the Owner chooses to have the Servicer service Distressed Mortgage Loans, the Owner Servicing Guidelines shall be mutually agreed upon between the Servicer and the Owner pursuant to a side agreement. The Servicer shall provide the Owner the reports described on Schedule I, attached hereto and made a part hereof.