Common use of The Mortgage Loans Clause in Contracts

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Section 5.11. Access to Certain Documentation 43 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Section 5.18. Delinquency Advances 47 Section 5.19. Indemnification; Third Party Claims 47 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 Section 5.22. Administrative Duties 48 Section 5.23. Advance Facility 49 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 Section 6.02. Collection of Money 52 Section 6.03. Application of Principal and Interest 52 Section 6.04. [Reserved 52 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIII

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 15 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 to Assure Servicing 31 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Subservicing Agreements Between Servicer and Subservicers 32 Section 5.03. Permitted Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 34 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Withdrawals from the Collection Account 30 37 Section 5.045.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policiesand Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Property Protection Expenses 31 Assumption Agreements 41 Section 5.05. Assumption and Modification Agreements 33 Section 5.065.13. Realization Upon Defaulted Mortgage Loans 34 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Section 5.11. Access to Certain Documentation 43 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 42 Section 5.14. Reports Custodian to the Indenture TrusteeCooperate; Collection Account Statements 44 Release of Mortgage Files 43 Section 5.15. Servicing Compensation 45 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Section 5.18. Delinquency Advances 47 48 Section 5.19. Indemnification; Third Party Claims 47 Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer [Reserved] 48 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 [Reserved] 49 Section 5.22. Administrative Duties 48 Servicing and Administration of the MI Policies 49 Section 5.23. Determination Date Reports 50 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 49 51 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 54 Section 6.02. Collection of Money 52 54 Section 6.03. Application of Principal and Interest 52 54 Section 6.04. [Reserved 52 Reserved] 54 Section 6.05. Compensating Interest 52 54 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events Effect of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIPayments by the Note Insurer; Subrogation 54

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 27 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 30 Section 5.03. Permitted Withdrawals from the Collection Account 30 31 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 32 Section 5.05. Assumption and Modification Agreements 33 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 Section 5.07. Indenture Trustee to Cooperate 34 35 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 37 Section 5.11. Access to Certain Documentation 43 38 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 44 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Reserved] 46 Section 5.18. Delinquency Advances 47 48 Section 5.19. Indemnification; Third Party Claims 47 48 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 49 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 49 Section 5.23. Administrative Duties 49 Section 5.24. Advance Facility 49 50 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 54 Section 6.02. Collection of Money 52 54 Section 6.03. Application of Principal and Interest 52 54 Section 6.04. [Reserved 52 Reserved] 54 Section 6.05. Compensating Interest 52 54 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events Effect of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIPayments by the Note Insurer; Subrogation 55

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 15 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 30 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Subservicing Agreements Between Servicer and Subservicers 32 Section 5.03. Permitted Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Withdrawals from the Collection Account 30 36 Section 5.045.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policiesand Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Property Protection Expenses 31 Assumption Agreements 41 Section 5.05. Assumption and Modification Agreements 33 Section 5.065.13. Realization Upon Defaulted Mortgage Loans 34 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Section 5.11. Access to Certain Documentation 43 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 42 Section 5.14. Reports Custodian to the Indenture TrusteeCooperate; Collection Account Statements Release of Mortgage Files 43 Section 5.15. Servicing Compensation 44 Section 5.155.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Section 5.18. Delinquency Advances 47 48 Section 5.19. Indemnification; Third Party Claims 47 Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer [Reserved] 48 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign [Reserved] 48 Section 5.22. Administrative Duties Servicing and Administration of the MI Policies 48 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 49 51 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 53 Section 6.02. Collection of Money 52 53 Section 6.03. Application of Principal and Interest 52 54 Section 6.04. [Reserved 52 Reserved] 54 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIReserved] 54

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 17 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Master Servicer 26 27 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 30 Section 5.03. Permitted Withdrawals from the Collection Account 30 31 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 32 Section 5.05. Assumption and Modification Agreements 33 34 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 35 Section 5.07. Indenture Trustee to Cooperate 34 36 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Master Servicer 36 37 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 37 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 37 Section 5.11. Access to Certain Documentation 43 38 Section 5.12. Maintenance of Fidelity Bond 43 38 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 43 38 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 39 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 40 Section 5.16. Reports to be Provided by the Master Servicer 45 and the Backup Servicer 40 Section 5.17. [Reserved 47 Reserved] 42 Section 5.18. Delinquency Advances 47 42 Section 5.19. Indemnification; Third Party Claims 47 43 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer 48 and Backup Servicer 43 Section 5.21. Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 48 44 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 44 Section 5.23. Advance Facility 49 Administrative Duties 45 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 46 Section 6.03. Application of Principal and Interest 52 46 Section 6.04. [Reserved 52 Reserved] 46 Section 6.05. Compensating Interest 52 46 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events Effect of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIPayments by the Note Insurer; Subrogation 47

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 32 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 35 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 36 Section 5.12. Maintenance of Fidelity Bond 43 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Servicer 45 39 Section 5.17. [Reserved 47 Reserved] 40 Section 5.18. Delinquency Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 41 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 41 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 42 Section 5.23. Administrative Duties 43 Section 5.24. Advance Facility 49 44 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 46 Section 6.03. Application of Principal and Interest 52 47 Section 6.04. [Reserved 52 Reserved] 47 Section 6.05. Compensating Interest 52 47 Section 6.06. [Reserved 52 Reserved] 47 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIVII

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 17 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Master Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 32 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Master Servicer 36 35 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 36 Section 5.12. Maintenance of Fidelity Bond 43 37 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 43 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Master Servicer 45 and the Backup Servicer 39 Section 5.17. [Reserved 47 Reserved] 40 Section 5.18. Delinquency Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer 48 and Backup Servicer 41 Section 5.21. Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 48 42 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 42 Section 5.23. Advance Facility 49 Administrative Duties 43 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 Section 6.02. Collection of Money 52 Section 6.03. Application of Principal and Interest 52 Section 6.04. [Reserved 52 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIVI

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 24 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Master Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 28 Section 5.03. Permitted Withdrawals from the Collection Account 30 29 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 30 Section 5.05. Assumption and Modification Agreements 33 32 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Master Servicer 36 35 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 35 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 36 Section 5.12. Maintenance of Fidelity Bond 43 36 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 43 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 37 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Master Servicer 45 and the Backup Servicer 39 Section 5.17. [Reserved 47 Reserved] 40 Section 5.18. Delinquency Periodic Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer 48 and Backup Servicer 41 Section 5.21. Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 48 42 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 42 Section 5.23. Advance Facility 49 Administrative Duties 43 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 44 Section 6.02. Collection of Money 52 44 Section 6.03. Application of Principal and Interest 52 44 Section 6.04. [Reserved 52 Reserved] 44 Section 6.05. Compensating Interest 52 44 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events Effect of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIPayments by the Note Insurer; Subrogation 45

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 14 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 to Assure Servicing 30 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Subservicing Agreements Between Servicer and Subservicers 31 Section 5.03. Permitted Successor Subservicers 32 Section 5.04. Liability of the Servicer 32 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Withdrawals from the Collection Account 30 36 Section 5.045.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 38 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policiesand Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Property Protection Expenses 31 Assumption Agreements 41 Section 5.05. Assumption and Modification Agreements 33 Section 5.065.13. Realization Upon Defaulted Mortgage Loans 34 41 Section 5.075.14. Indenture Trustee Custodian to Cooperate 34 Cooperate; Release of Mortgage Files 43 Section 5.085.15. Servicing Compensation; Payment Compensation 44 Section 5.16. Annual Statements of Certain Expenses by Servicer 36 Compliance 44 Section 5.095.17. Assessments of Compliance and Attestation Reports 36 45 Section 5.105.18. Reports Filed with Securities and Exchange Commission 38 46 Section 5.11. Access to Certain Documentation 43 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.155.19. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Section 5.18. Delinquency Advances 47 Section 5.19. Indemnification; Third Party Claims 47 51 Section 5.20. Maintenance Information Required by the Internal Revenue Service Generally and Reports of Corporate Existence Foreclosures and Licenses; Merger or Consolidation Abandonments of the Servicer 48 Mortgaged Property 51 Section 5.21. Assignment Optional Purchase of Agreement by Servicer; Servicer Not to Resign 48 Mortgage Loans 52 Section 5.22. Administrative Duties 48 [Reserved] 52 Section 5.23. Servicing and Administration of the MI Policies 52 Section 5.24. Determination Date Reports 53 Section 5.25. Advances 54 Section 5.26. Compensating Interest Payments 54 Section 5.27. Advance Facility 49 54 Section 5.28. Servicer Rights Facility 57 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 57 Section 6.02. Collection of Money 52 57 Section 6.03. Application of Principal and Interest 52 Section 6.04. [Reserved 52 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 57 ARTICLE VII THE SERVICER DEFAULT AND THE DEPOSITOR Section 7.01. Liability of the Servicer Events of Default 53 and the Depositor 58 Section 7.02. Indenture Trustee to Act: Appointment Merger or Consolidation of, or Assumption of Successor 55 the Obligations of, the Servicer or the Depositor 58 Section 7.03. Waiver Limitation on Liability of Defaults the Servicer and Others 58 Section 7.04. Servicer Not to Resign 59 Section 7.05. Delegation of Duties 59 Section 7.06. Servicer to Pay Trustee’s Fees and Expenses; Indemnification 59 ARTICLE VIII

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 17 Section 4.02. Purchase and Substitution 25 26 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Master Servicer 26 27 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 30 Section 5.03. Permitted Withdrawals from the Collection Account 30 32 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 33 Section 5.05. Assumption and Modification Agreements 33 34 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 35 Section 5.07. Indenture Trustee to Cooperate 34 36 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Master Servicer 36 37 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 37 Section 5.10. Reports Filed with Securities and Exchange Commission Annual Independent Public Accountants’ Servicing Report 38 Section 5.11. Access to Certain Documentation 43 38 Section 5.12. Maintenance of Fidelity Bond 43 38 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 43 38 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 40 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 40 Section 5.16. Reports to be Provided by the Master Servicer 45 and the Backup Servicer 40 Section 5.17. [Reserved 47 Reserved] 42 Section 5.18. Delinquency Advances 47 42 Section 5.19. Indemnification; Third Party Claims 47 43 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer 48 and Backup Servicer 43 Section 5.21. Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 48 43 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 44 Section 5.23. Advance Facility 49 Administrative Duties 45 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 46 Section 6.03. Application of Principal and Interest 52 46 Section 6.04. [Reserved 52 Reserved] 46 Section 6.05. Compensating Interest 52 46 Section 6.06. [Reserved 52 Reserved] 47 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIVII

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Annual Statement as to Compliance 36 Section 5.10. Assessments of Compliance and Attestation Reports 36 Section 5.105.11. Reports Filed with Securities and Exchange Commission 38 Section 5.115.12. Access to Certain Documentation 43 Section 5.125.13. Maintenance of Fidelity Bond 43 Section 5.135.14. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.145.15. Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.155.16. Optional Purchase of Defaulted Mortgage Loans 45 44 Section 5.165.17. Reports to be Provided by the Servicer 45 Section 5.175.18. [Reserved 47 46 Section 5.185.19. Delinquency Advances 47 46 Section 5.195.20. Indemnification; Third Party Claims 47 Section 5.205.21. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 47 Section 5.215.22. Assignment of Agreement by Servicer; Servicer Not to Resign 48 Section 5.225.23. [Reserved 48 Section 5.24. Administrative Duties 48 Section 5.235.25. Advance Facility 49 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 51 Section 6.02. Collection of Money 52 Section 6.03. Application of Principal and Interest 52 Section 6.04. [Reserved 52 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 52 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIII58

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Annual Statement as to Compliance 36 Section 5.10. Assessments of Compliance and Attestation Reports 36 Section 5.105.11. Reports Filed with Securities and Exchange Commission 38 37 Section 5.115.12. Access to Certain Documentation 43 42 Section 5.125.13. Maintenance of Fidelity Bond 43 Section 5.135.14. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.145.15. Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.155.16. Optional Purchase of Defaulted Mortgage Loans 45 44 Section 5.165.17. Reports to be Provided by the Servicer 45 Section 5.175.18. [Reserved 47 46 Section 5.185.19. Delinquency Advances 47 46 Section 5.195.20. Indemnification; Third Party Claims 47 Section 5.205.21. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 47 Section 5.215.22. Assignment of Agreement by Servicer; Servicer Not to Resign 47 Section 5.23. [Reserved 48 Section 5.225.24. Administrative Duties 48 Section 5.235.25. Advance Facility 49 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 51 Section 6.02. Collection of Money 52 51 Section 6.03. Application of Principal and Interest 52 51 Section 6.04. [Reserved 52 51 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 52 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 54 Section 7.03. Waiver of Defaults 57 ARTICLE VIII TERMINATION Section 8.01. Termination 57 Section 8.02. Additional Termination Requirements 58 ARTICLE VIIISection 8.03. Accounting Upon Termination of Servicer 59

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 24 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Master Servicer 26 25 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 27 Section 5.03. Permitted Withdrawals from the Collection Account 30 29 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 30 Section 5.05. Assumption and Modification Agreements 33 31 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 32 Section 5.07. Indenture Trustee to Cooperate 34 33 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Master Servicer 36 34 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 35 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 35 Section 5.11. Access to Certain Documentation 43 35 Section 5.12. Maintenance of Fidelity Bond 43 35 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 43 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 37 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 37 Section 5.16. Reports to be Provided by the Master Servicer 45 and the Backup Servicer 38 Section 5.17. [Reserved 47 Reserved] 39 Section 5.18. Delinquency Periodic Advances 47 39 Section 5.19. Indemnification; Third Party Claims 47 40 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer 48 and Backup Servicer 40 Section 5.21. Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 48 41 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 41 Section 5.23. Advance Facility 49 Administrative Duties 42 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 43 Section 6.02. Collection of Money 52 43 Section 6.03. Application of Principal and Interest 52 43 Section 6.04. [Reserved 52 Reserved] 43 Section 6.05. Compensating Interest 52 44 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events Effect of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIPayments by the Note Insurer; Subrogation 44

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 32 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 35 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 36 Section 5.12. Maintenance of Fidelity Bond 43 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Servicer 45 38 Section 5.17. [Reserved 47 40 Section 5.18. Delinquency Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 40 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 41 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 41 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 41 Section 5.23. Administrative Duties 43 Section 5.24. Advance Facility 49 43 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 46 Section 6.03. Application of Principal and Interest 52 46 Section 6.04. [Reserved 52 46 Section 6.05. Compensating Interest 52 46 Section 6.06. [Reserved 52 46 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIVII

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 31 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 32 Section 5.05. Assumption and Modification Agreements 33 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 Section 5.07. Indenture Trustee to Cooperate 34 35 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 37 Section 5.12. Maintenance of Fidelity Bond 43 37 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Servicer 45 39 Section 5.17. [Reserved 47 40 Section 5.18. Delinquency Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 41 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 42 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 42 Section 5.23. Administrative Duties 43 Section 5.24. Advance Facility 49 44 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 47 Section 6.03. Application of Principal and Interest 52 47 Section 6.04. [Reserved 52 47 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 47 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIVII

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 19 Section 4.02. Purchase and Substitution 25 28 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 30 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 33 Section 5.03. Permitted Withdrawals from the Collection Account 30 34 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 35 Section 5.05. Assumption and Modification Agreements 33 36 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 37 Section 5.07. Indenture Trustee to Cooperate 34 38 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 39 Section 5.09. Annual Statement as to Compliance 39 Section 5.10. Assessments of Compliance and Attestation Reports 36 40 Section 5.105.11. Reports Filed with Securities and Exchange Commission 38 41 Section 5.115.12. Access to Certain Documentation 43 46 Section 5.125.13. Maintenance of Fidelity Bond 43 46 Section 5.135.14. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 46 Section 5.145.15. Reports to the Indenture Trustee; Collection Account Statements 44 47 Section 5.155.16. Optional Purchase of Defaulted Mortgage Loans 45 48 Section 5.165.17. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 48 Section 5.18. [Reserved] 50 Section 5.19. Delinquency Advances 47 50 Section 5.195.20. Indemnification; Third Party Claims 47 50 Section 5.205.21. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 51 Section 5.215.22. Assignment of Agreement by Servicer; Servicer Not to Resign 48 51 Section 5.225.23. [Reserved] 51 Section 5.24. Administrative Duties 48 51 Section 5.235.25. Advance Facility 49 52 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 55 Section 6.02. Collection of Money 52 55 Section 6.03. Application of Principal and Interest 52 55 Section 6.04. [Reserved 52 55 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIII55

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 19 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 to Assure Servicing 35 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Subservicing Agreements Between Servicer and Subservicers 36 Section 5.03. Permitted Successor Subservicers 37 Section 5.04. Liability of the Servicer 38 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 38 Section 5.06. Collection of Mortgage Loan Payments 39 Section 5.07. Withdrawals from the Collection Account 30 41 Section 5.045.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 43 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 43 Section 5.10. [Reserved] 44 Section 5.11. Maintenance of Hazard Insurance Policiesand Fidelity Coverage 44 Section 5.12. Due-on-Sale Clauses; Property Protection Expenses 31 Assumption Agreements 46 Section 5.05. Assumption and Modification Agreements 33 Section 5.065.13. Realization Upon Defaulted Mortgage Loans 34 46 Section 5.075.14. Indenture Trustee Custodian to Cooperate 34 Cooperate; Release of Mortgage Files 48 Section 5.085.15. Servicing Compensation; Payment Compensation 49 Section 5.16. Annual Statements of Certain Expenses by Servicer 36 Compliance 50 Section 5.095.17. Assessments of Compliance and Attestation Reports 36 50 Section 5.105.18. Reports Filed with Securities and Exchange Commission 38 51 Section 5.11. Access to Certain Documentation 43 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.155.19. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Section 5.18. Delinquency Advances 47 Section 5.19. Indemnification; Third Party Claims 47 56 Section 5.20. Maintenance Information Required by the Internal Revenue Service Generally and Reports of Corporate Existence Foreclosures and Licenses; Merger or Consolidation Abandonments of the Servicer 48 Mortgaged Property 57 Section 5.21. Assignment Optional Purchase of Agreement by Servicer; Servicer Not to Resign 48 Mortgage Loans 57 Section 5.22. Administrative Duties 48 [Reserved] 57 Section 5.23. Servicing and Administration of the MI Policies 57 Section 5.24. Determination Date Reports 58 Section 5.25. Advances 59 Section 5.26. Compensating Interest Payments 59 Section 5.27. Advance Facility 49 60 Section 5.28. Servicer Rights Facility 62 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 63 Section 6.02. Collection of Money 52 63 Section 6.03. Application of Principal and Interest 52 Section 6.04. [Reserved 52 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 63 ARTICLE VII THE SERVICER DEFAULT AND THE DEPOSITOR Section 7.01. Liability of the Servicer Events of Default 53 and the Depositor 63 Section 7.02. Indenture Trustee to Act: Appointment Merger or Consolidation of, or Assumption of Successor 55 the Obligations of, the Servicer or the Depositor 63 Section 7.03. Waiver Limitation on Liability of Defaults 58 ARTICLE VIIIthe Servicer and Others 64 Section 7.04. Servicer Not to Resign 64 Section 7.05. Delegation of Duties 65 Section 7.06. Servicing Rights Owner to Pay Trustee’s Fees and Expenses; Indemnification 65

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 31 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 32 Section 5.05. Assumption and Modification Agreements 33 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 Section 5.07. Indenture Trustee to Cooperate 34 35 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 37 Section 5.12. Maintenance of Fidelity Bond 43 37 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Servicer 45 39 Section 5.17. [Reserved 47 Reserved] 40 Section 5.18. Delinquency Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 41 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 42 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 42 Section 5.23. Administrative Duties 43 Section 5.24. Advance Facility 49 44 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 47 Section 6.03. Application of Principal and Interest 52 47 Section 6.04. [Reserved 52 Reserved] 47 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 47 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 47 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 50 Section 7.03. Waiver of Defaults 58 53 ARTICLE VIIIVIII TERMINATION Section 8.01. Termination 53 Section 8.02. Additional Termination Requirements 54 Section 8.03. Accounting Upon Termination of Servicer 54 ARTICLE IX [RESERVED] ARTICLE X

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 32 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 35 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 36 Section 5.12. Maintenance of Fidelity Bond 43 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Servicer 45 38 Section 5.17. [Reserved 47 40 Section 5.18. Delinquency Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 40 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 41 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 41 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 41 Section 5.23. Administrative Duties 43 Section 5.24. Advance Facility 49 43 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 46 Section 6.03. Application of Principal and Interest 52 46 Section 6.04. [Reserved 52 46 Section 6.05. Compensating Interest 52 46 Section 6.06. [Reserved 52 47 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 47 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 49 Section 7.03. Waiver of Defaults 52 ARTICLE VIII TERMINATION Section 8.01. Termination 52 Section 8.02. Additional Termination Requirements 53 Section 8.03. Accounting Upon Termination of Servicer 53 Section 8.04. [Reserved 54 ARTICLE IX [RESERVED] ARTICLE X MISCELLANEOUS PROVISIONS Section 10.01. Limitation on Liability 54 Section 10.02. Acts of Noteholders 55 Section 10.03. Amendment 55 Section 10.04. Recordation of Agreement 56 Section 10.05. Duration of Agreement 56 Section 10.06. Notices 56 Section 10.07. Severability of Provisions 57 Section 10.08. No Partnership 57 Section 10.09. Counterparts 57 Section 10.10. Successors and Assigns 57 Section 10.11. Headings 57 Section 10.12. No Petition 57 Section 10.13. Third Party Beneficiary 57 Section 10.14. Intent of the Parties 57 Section 10.15. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL 58 ARTICLE VIIISchedule I Mortgage Loan Schedule Appendix I Defined Terms EXHIBITS Exhibit A Contents of the Mortgage File Exhibit B Reserved Exhibit C Indenture Trustee’s Acknowledgement of Receipt Exhibit D Initial Certification of Indenture Trustee Exhibit E Final Certification of Indenture Trustee Exhibit F Request for Release of Documents Exhibit G AHL Officer’s Certificate SALE AND SERVICING AGREEMENT, dated as of , 20 (this “Agreement”), by and among ACCREDITED MORTGAGE LOAN REIT TRUST, a Maryland real estate investment trust, as seller (the “Seller”), ACCREDITED HOME LENDERS, INC., a California corporation, as sponsor (the “Sponsor”), ACCREDITED MORTGAGE LOAN TRUST 200 - , a Delaware statutory trust, as issuer (the “Trust”), ACCREDITED HOME LENDERS, INC., a California corporation, as servicer (the “Servicer”), and , a national banking association, as indenture trustee (the “Indenture Trustee”).

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Permitted Withdrawals from the Collection Account 30 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Modification Agreements 33 32 Section 5.06. Realization Upon Defaulted Mortgage Loans 34 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 35 Section 5.09. Assessments of Annual Statement as to Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Annual Independent Public Accountants’ Servicing Report 36 Section 5.11. Access to Certain Documentation 43 36 Section 5.12. Maintenance of Fidelity Bond 43 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 45 38 Section 5.16. Reports to be Provided by the Servicer 45 39 Section 5.17. [Reserved 47 Reserved.] 40 Section 5.18. Delinquency Advances 47 40 Section 5.19. Indemnification; Third Party Claims 47 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 41 Section 5.21. Assignment of Agreement by Servicer; Servicer Not to Resign 48 41 Section 5.22. Administrative Duties 48 Periodic Filings with the Securities and Exchange Commission Additional Information 42 Section 5.23. Administrative Duties 43 Section 5.24. Advance Facility 49 44 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 46 Section 6.02. Collection of Money 52 46 Section 6.03. Application of Principal and Interest 52 47 Section 6.04. [Reserved 52 Reserved.] 47 Section 6.05. Compensating Interest 52 47 Section 6.06. [Reserved 52 Reserved.] 47 ARTICLE VII SERVICER DEFAULT Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58 ARTICLE VIIIVII

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 16 Section 4.02. Purchase and Substitution 25 19 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 26 to Assure Servicing 35 Section 5.02. Collection of Certain Mortgage Loan Payments; Collection Account 29 Subservicing Agreements Between Servicer and Subservicers 36 Section 5.03. Permitted Successor Subservicers 37 Section 5.04. Liability of the Servicer 37 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 38 Section 5.06. Collection of Mortgage Loan Payments 39 Section 5.07. Withdrawals from the Collection Account 30 41 Section 5.045.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 43 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 43 Section 5.10. [Reserved] 44 Section 5.11. Maintenance of Hazard Insurance Policiesand Fidelity Coverage 44 Section 5.12. Due-on-Sale Clauses; Property Protection Expenses 31 Assumption Agreements 46 Section 5.05. Assumption and Modification Agreements 33 Section 5.065.13. Realization Upon Defaulted Mortgage Loans 34 46 Section 5.075.14. Indenture Trustee Custodian to Cooperate 34 Cooperate; Release of Mortgage Files 48 Section 5.085.15. Servicing Compensation; Payment Compensation 49 Section 5.16. Annual Statements of Certain Expenses by Servicer 36 Compliance 49 Section 5.095.17. Assessments of Compliance and Attestation Reports 36 50 Section 5.105.18. Reports Filed with Securities and Exchange Commission 38 51 Section 5.11. Access to Certain Documentation 43 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.155.19. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Section 5.18. Delinquency Advances 47 Section 5.19. Indemnification; Third Party Claims 47 56 Section 5.20. Maintenance Information Required by the Internal Revenue Service Generally and Reports of Corporate Existence Foreclosures and Licenses; Merger or Consolidation Abandonments of the Servicer 48 Mortgaged Property 56 Section 5.21. Assignment Optional Purchase of Agreement by Servicer; Servicer Not to Resign 48 Mortgage Loans 57 Section 5.22. Administrative Duties 48 [Reserved] 57 Section 5.23. Servicing and Administration of the MI Policies 57 Section 5.24. Determination Date Reports 58 Section 5.25. Advances 58 Section 5.26. Compensating Interest Payments 59 Section 5.27. Advance Facility 49 59 Section 5.28. Servicer Rights Facility 62 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 52 62 Section 6.02. Collection of Money 52 62 Section 6.03. Application of Principal and Interest 52 Section 6.04. [Reserved 52 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved 52 63 ARTICLE VII THE SERVICER DEFAULT AND THE DEPOSITOR Section 7.01. Liability of the Servicer Events of Default 53 and the Depositor 63 Section 7.02. Indenture Trustee to Act: Appointment Merger or Consolidation of, or Assumption of Successor 55 the Obligations of, the Servicer or the Depositor 63 Section 7.03. Waiver Limitation on Liability of Defaults 58 ARTICLE VIIIthe Servicer and Others 63 Section 7.04. Servicer Not to Resign 64 Section 7.05. Delegation of Duties 64 Section 7.06. Servicing Rights Owner to Pay Trustee’s Fees and Expenses; Indemnification 64