Administration and Servicing of Loan. In administering and servicing the Loan, Lead Lender shall act in its own behalf as to its interest in the Loan and shall act as an independent contractor (and not as an agent or trustee) for the Lender with respect to their respective interests in the Loan. The Lender hereby appoints and authorizes Lead Lender to act for and on behalf of Lender with regard to the Loan, subject to the restrictions set forth in this Agreement. Lead Lender shall utilize its own facilities and equipment and its own employees and other persons authorized under the Loan Documents in the administering and servicing of the Loan, all without cost to the Lender. In its administering and servicing of the Loan, Lead Lender shall perform the following duties (the enumeration of said duties not being intended to limit the duties to be performed by Lead Lender in accordance with the foregoing paragraph) and shall be subject to the following restrictions and shall have the following rights:
Administration and Servicing of Loan. (a) The duties of Lead Lender shall be administrative in nature other than with regard to the holding in trust of the Participant’s Participation Interest in the payments due from Borrower under the Loan Documents, Lead Lender shall not have, except as otherwise expressly set forth in this Agreement, a fiduciary relationship in respect of Participant, and nothing in this Agreement, expressed or implied, is intended to or shall be soon construed as to impose upon Lead Lender any obligations in respect of this Agreement except as set forth herein.
Administration and Servicing of Loan
