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

Administration and Servicing of Qualified Loans. (a) The Seller will service the Qualified Loans in the Portfolio using commercially reasonable practices and in substantial compliance with the applicable servicing standards set forth in the sections of Sections 5.01(a) through (f) of the Servicing Agreement pertaining to the servicing of loans and administration of proceeds, except as modified by this Commitment. The Seller may conduct such servicing through the facilities of agents or independent contractors but shall not thereby be released from any of its duties or responsibilities hereunder. (b) The Seller must maintain or provide for the maintenance of a Mortgage File for each Qualified Loan in the Portfolio. The Seller will provide for the physical segregation of any original Mortgage Notes relating to the Qualified Loans in the Portfolio and hold such Mortgage Notes in a secure environment in accordance with generally accepted industry standards for the custody of mortgage loan documentation. The Seller will maintain or provide for the maintenance of each Mortgage Note in a fire resistant vault, drawer or other suitable depository. The Seller is responsible for maintaining accurate accounting and borrower payment records. (c) Upon reasonable notice and at any reasonable time during the Commitment Term and subject to applicable confidentiality requirements, Xxxxxx Mac has the right to examine any and all books and records that pertain to the Qualified Loans, any and all accounting reports associated with the Qualified Loans and borrower remittances, and any other reports and documentation that Xxxxxx Mac considers necessary to assure that (i) the Qualified Loans meet the terms and conditions set forth herein and (ii) the Seller is servicing the Qualified Loans in compliance with Sections 5.01(a) through (f) of the Servicing Agreement and this Commitment. (d) The Seller shall service delinquent Qualified Loans using commercially reasonable practices in substantial compliance with Sections 5.01(a) through (f) of the Servicing Agreement, including timely initiation of loss mitigation efforts. However, the Seller must sell the delinquent Qualified Loan to Xxxxxx Mac prior to completion of the foreclosure process (or other comparable conversion) in accordance with Section 5.01 hereof. If title to the underlying mortgaged property has transferred to the Seller and no right of rescission by the borrower exists, the related Qualified Loan is no longer eligible for sale to Xxxxxx Mac and should be reported as a “payoff” in accordance with the requirements of Section 4.04. (e) The Seller shall service all Qualified Loans, and all other loans to borrowers of Qualified Loans (“Related Loans”), in a manner that protects Xxxxxx Mac’s financial interests. In that regard, without Xxxxxx Mac’s prior concurrence, which concurrence shall not be unreasonably withheld, the Seller shall not, without limitation, apply funds received, take or defer taking any servicing action (including restructuring or reamortizing), or waive a substantive default with respect to any Related Loan if so doing materially increases the amount of Xxxxxx Mac’s risk of or actual loss with respect to the relationship (i.e., the Qualified Loan plus all Related Loans). (f) With respect to either Qualified Participation Interests or Qualified Loans that are part of a syndication, the Seller shall provide promptly upon receipt any notices, requests for consent, or other information received from the lead lending institution for such Qualified Participation Interest or Qualified Loan, or from any other participant or lending institutions in the syndicate, as applicable. To the extent that the Seller is the lead agent or lead lending institution in the participation arrangement or syndication, as applicable, the Seller shall provide any such notices, requests for consent, or other information to Xxxxxx Mac concurrently with the remaining members of the participation or syndication.

Administration and Servicing of Qualified Loans. (a) The Seller will service the Qualified Loans in the Portfolio using commercially reasonable practices and in substantial compliance with no less stringent than those applicable to agricultural mortgage loans serviced under the applicable servicing standards set forth in the sections of Sections 5.01(a) through (f) direction of the Servicing Agreement pertaining to Seller other than the servicing of loans and administration of proceeds, except as modified by this CommitmentQualified Loans. The Seller may conduct such servicing through the facilities of agents or independent contractors but shall not thereby be released from any of its duties or responsibilities hereunder. (b) The Seller must maintain or provide for the maintenance of a Mortgage File an individual mortgage file for each Qualified Loan in the Portfolio. Each mortgage file must include any papers or records that are required by the Seller/Servicer Agreement (except assignments of mortgages to Xxxxxx Mac). The Seller will provide for the physical segregation of any original Mortgage Notes the mortgage notes relating to the Qualified Loans in the Portfolio and hold such Mortgage Notes mortgage notes in a secure environment in accordance with generally accepted industry standards for the custody of mortgage loan documentation. The Seller will maintain or provide for the maintenance of each Mortgage Note mortgage note in a fire resistant vault, drawer or other suitable depository. The Seller is responsible for maintaining accurate accounting and borrower payment records, as required in the Seller/Servicer Agreement. (c) Upon reasonable notice and at any reasonable time during the Commitment Term and subject to applicable confidentiality requirements, Xxxxxx Mac has the right to examine any and all books and records that pertain to the Qualified Loans, any and all accounting reports associated with the Qualified Loans and borrower remittances, and any other reports and documentation that Xxxxxx Mac considers necessary to assure that (i) the Qualified Loans meet the terms and conditions set forth herein and (ii) the Seller is servicing the Qualified Loans in compliance with Sections 5.01(a) through (f) of the Servicing Seller/Servicer Agreement and this Commitment. Seller agrees to forward such books, records or reports (or copies thereof) to Xxxxxx Mac upon request by Xxxxxx Mac. (d) The Seller shall service delinquent Qualified Loans using commercially reasonable practices no less stringent than those it uses in substantial compliance with Sections 5.01(a) through (f) of the Servicing Agreementservicing other delinquent agricultural real estate mortgage loans, including timely initiation of loss mitigation efforts. However, the Seller must sell the delinquent Qualified Loan to Xxxxxx Mac prior to completion of the foreclosure process (or other comparable conversion) in accordance with Section 5.01 hereof. If title to the underlying mortgaged property has transferred to the Seller and no right of rescission by the borrower exists, the related Qualified Loan is no longer eligible for sale to Xxxxxx Mac and should be reported as a “"payoff” " in accordance with the requirements of Section 4.04. (e) The Seller shall service all Qualified Loans, and all other loans to borrowers of Qualified Loans (“Related Loans”), in a manner that protects Xxxxxx Mac’s financial interests. In that regard, without Xxxxxx Mac’s prior concurrence, which concurrence shall not be unreasonably withheld, the Seller shall not, without limitation, apply funds received, take or defer taking any servicing action (including restructuring or reamortizing), or waive a substantive default with respect to any Related Loan if so doing materially increases the amount of Xxxxxx Mac’s risk of or actual loss with respect to the relationship (i.e., the Qualified Loan plus all Related Loans). (f) With respect to either Qualified Participation Interests or Qualified Loans that are part of a syndication, the Seller shall provide promptly upon receipt any notices, requests for consent, or other information received from the lead lending institution for such Qualified Participation Interest or Qualified Loan, or from any other participant or lending institutions in the syndicate, as applicable. To the extent that the Seller is the lead agent or lead lending institution in the participation arrangement or syndication, as applicable, the Seller shall provide any such notices, requests for consent, or other information to Xxxxxx Mac concurrently with the remaining members of the participation or syndication.

Administration and Servicing of Qualified Loans. (a) The Seller will shall service the Qualified Loans in the Portfolio using commercially reasonable practices and in substantial compliance with the applicable servicing standards set forth in the sections of Sections 5.01(a) through (f) Article III of the Servicing Agreement Contract pertaining to the servicing of loans and administration of proceeds, except as modified by this Commitment. The Seller may conduct such servicing through the facilities of agents or independent contractors but shall not thereby be released from any of its duties or responsibilities hereunder. (b) The Seller must shall maintain or provide for the maintenance of a Mortgage File for each Qualified Loan in the Portfolio. Each Mortgage File must include any papers or records that are required by the Servicing Contract (except, for purposes of this paragraph only, assignments of mortgages to Xxxxxx Mac). The Seller will provide for the physical segregation of any original Mortgage Notes the mortgage notes relating to the Qualified Loans in the Portfolio and hold such Mortgage Notes mortgage notes in a secure environment in accordance with generally accepted industry standards for the custody of mortgage loan documentation. The Seller will shall maintain or provide for the maintenance of each Mortgage Note mortgage note in a fire resistant vault, drawer or other suitable depository. The Seller is responsible for maintaining accurate accounting and borrower payment records, as required in the Servicing Contract. (c) Upon reasonable notice and at any reasonable time during the Commitment Term and subject to applicable confidentiality requirements, Xxxxxx Mac has the right to examine any and all books and records that pertain to the Qualified Loans, any and all accounting reports associated with the Qualified Loans and borrower remittances, and any other reports and documentation that Xxxxxx Mac considers necessary to assure that (i) the Qualified Loans meet the terms and conditions set forth herein and (ii) the Seller is servicing the Qualified Loans in compliance with Sections 5.01(a) through (f) of the Servicing Agreement Contract and this Commitment. The Seller agrees to forward such books, records or reports (or copies thereof) to Xxxxxx Mac upon request by Xxxxxx Mac. The Seller shall execute one or more written consents to authorize FCA to furnish to Xxxxxx Mac upon Xxxxxx Mac’s request those sections of the most recent FCA examination reports related to Seller’s mortgage loan administration, including underwriting, servicing, and the accuracy of the Seller’s risk-rating system. The Seller shall notify Xxxxxx Mac in writing not later than ten (10) Business Days following the issuance by FCA of any such examination report with respect to the Seller. (d) The Seller shall service delinquent Qualified Loans using commercially reasonable practices in substantial compliance with Sections 5.01(a) through (f) the provisions of Article III of the Servicing AgreementContract and the Seller/Servicer Guide relating to the servicing of delinquent loans, including timely initiation of loss mitigation efforts. However, the Seller must sell the delinquent Qualified Loan to Xxxxxx Mac prior to completion of the foreclosure process (or other comparable conversion) in accordance with Section 5.01 hereof. If title to the underlying mortgaged property has transferred to the Seller and no right of rescission by the borrower exists, the related Qualified Loan is no longer eligible for sale to Xxxxxx Mac and should be reported as a “payoff” in accordance with the requirements of Section 4.04. (e) The Seller shall service all Qualified Loans, and all other loans to borrowers of Qualified Loans (“Related Loans”), in a manner that protects Xxxxxx Mac’s financial interests. In that regard, without Xxxxxx Mac’s prior concurrence, which concurrence shall not be unreasonably withheld, the Seller shall not, without limitation, apply funds received, take or defer taking any servicing action (including restructuring or reamortizing), or waive a substantive default with respect to any Related Loan if so doing materially increases the amount of Xxxxxx Mac’s risk of or actual loss with respect to the relationship (i.e., the Qualified Loan plus all Related Loans). (f) With respect to either Qualified Participation Interests or Qualified Loans that are part of a syndication, the Seller shall provide promptly upon receipt any notices, requests for consent, or other information received from the lead lending institution for such Qualified Participation Interest or Qualified Loan, or from any other participant or lending institutions in the syndicate, as applicable. To the extent that the Seller is the lead agent or lead lending institution in the participation arrangement or syndication, as applicable, the Seller shall provide any such notices, requests for consent, or other information to Xxxxxx Mac concurrently with the remaining members of the participation or syndication.

Administration and Servicing of Qualified Loans. (a) The Seller will service the Qualified Loans in the Portfolio using commercially reasonable practices and in substantial compliance with the applicable servicing standards set forth in the sections of Sections 5.01(a) through (f) of the Servicing Agreement pertaining to the servicing of loans and administration of proceeds, except as modified by this Commitment. The Seller may conduct such servicing through the facilities of agents or independent contractors but shall not thereby be released from any of its duties or responsibilities hereunder. (b) The Seller must maintain or provide for the maintenance of a Mortgage File for each Qualified Loan in the Portfolio. The Seller will provide for the physical segregation of any original Mortgage Notes relating to the Qualified Loans in the Portfolio and hold such Mortgage Notes in a secure environment in accordance with generally accepted industry standards for the custody of mortgage loan documentation. The Seller will maintain or provide for the maintenance of each Mortgage Note in a fire resistant vault, drawer or other suitable depository. The Seller is responsible for maintaining accurate accounting and borrower payment records. (c) Upon reasonable notice and at any reasonable time during the Commitment Term and subject to applicable confidentiality requirements, Xxxxxx Mac has the right to examine any and all books and records that pertain to the Qualified Loans, any and all accounting reports associated with the Qualified Loans and borrower remittances, and any other reports and documentation that Xxxxxx Mac considers necessary to assure that (i) the Qualified Loans meet the terms and conditions set forth herein and (ii) the Seller is servicing the Qualified Loans in compliance with Sections 5.01(a) through (f) of the Servicing Agreement and this Commitment.. CFC DOC AA001-G-Xxxxxx(SIGMUNK) 199316-7 (d) The Seller shall service delinquent Qualified Loans using commercially reasonable practices in substantial compliance with Sections 5.01(a) through (f) of the Servicing Agreement, including timely initiation of loss mitigation efforts. However, the Seller must sell the delinquent Qualified Loan to Xxxxxx Mac prior to completion of the foreclosure process (or other comparable conversion) in accordance with Section 5.01 hereof. If title to the underlying mortgaged property has transferred to the Seller and no right of rescission by the borrower exists, the related Qualified Loan is no longer eligible for sale to Xxxxxx Mac and should be reported as a “payoff” in accordance with the requirements of Section 4.04. (e) The Seller shall service all Qualified Loans, and all other loans to borrowers of Qualified Loans (“Related Loans”), in a manner that protects Xxxxxx Mac’s financial interests. In that regard, without Xxxxxx Mac’s prior concurrence, which concurrence shall not be unreasonably withheld, the Seller shall not, without limitation, apply funds received, take or defer taking any servicing action (including restructuring or reamortizing), or waive a substantive default with respect to any Related Loan if so doing materially increases the amount of Xxxxxx Mac’s risk of or actual loss with respect to the relationship (i.e., the Qualified Loan plus all Related Loans). (f) With respect to either Qualified Participation Interests or Qualified Loans that are part of a syndication, the Seller shall provide promptly upon receipt any notices, requests for consent, or other information received from the lead lending institution for such Qualified Participation Interest or Qualified Loan, or from any other participant or lending institutions in the syndicate, as applicable. To the extent that the Seller is the lead agent or lead lending institution in the participation arrangement or syndication, as applicable, the Seller shall provide any such notices, requests for consent, or other information to Xxxxxx Mac concurrently with the remaining members of the participation or syndication.

Administration and Servicing of Qualified Loans. (a) The Seller will service the Qualified Loans in the Portfolio using commercially reasonable practices and in substantial compliance with the applicable servicing standards set forth in the sections of Sections 5.01(a) through (f) Article III of the Servicing Agreement Contract pertaining to the servicing of loans and administration of proceeds, except as modified by this Commitment. The Seller may conduct such servicing through the facilities of agents or independent contractors but shall not thereby be released from any of its duties or responsibilities hereunder. (b) The Seller must maintain or provide for the maintenance of a Mortgage File an individual mortgage file for each Qualified Loan in the Portfolio. Each mortgage file must include any papers or records that are required by the Servicing Contract (except assignments of mortgages to Xxxxxx Mac). The Seller will provide for the physical segregation of any original Mortgage Notes the mortgage notes relating to the Qualified Loans in the Portfolio and hold such Mortgage Notes mortgage notes in a secure environment in accordance with generally accepted industry standards for the custody of mortgage loan documentation. The Seller will maintain or provide for the maintenance of each Mortgage Note mortgage note in a fire resistant vault, drawer or other suitable depository. The Seller is responsible for maintaining accurate accounting and borrower payment records, as required in the Servicing Contract. (c) Upon reasonable notice and at any reasonable time during the Commitment Term and subject to applicable confidentiality requirements, Xxxxxx Mac has the right to examine any and all books and records that pertain to the Qualified Loans, any and all accounting reports associated with the Qualified Loans and borrower remittances, and any other reports and documentation that Xxxxxx Mac considers necessary to assure that (i) the Qualified Loans meet the terms and conditions set forth herein and (ii) the Seller is servicing the Qualified Loans in compliance with Sections 5.01(a) through (f) of the Servicing Agreement Contract and this Commitment. Seller agrees to forward such books, records or reports (or copies thereof) to Xxxxxx Mac upon request by Xxxxxx Mac. (d) The Seller shall service delinquent Qualified Loans using commercially reasonable practices in substantial compliance with Sections 5.01(a) through (f) the provisions of Article III of the Servicing AgreementContract and the Seller/Servicer Guide relating to the servicing of delinquent loans, including timely initiation of loss mitigation efforts. However, the Seller must sell the delinquent Qualified Loan to Xxxxxx Mac prior to completion of the foreclosure process (or other comparable conversion) in accordance with Section 5.01 hereof. If title to the underlying mortgaged property has transferred to the Seller and no right of rescission by the borrower exists, the related Qualified Loan is no longer eligible for sale to Xxxxxx Mac and should be reported as a “payoff” in accordance with the requirements of Section 4.04. (e) The Seller shall service all Qualified Loans, and all other loans to borrowers of Qualified Loans (“Related Loans”), in a manner that protects Xxxxxx Mac’s financial interests. In that regard, without Xxxxxx Mac’s prior concurrence, which concurrence shall not be unreasonably withheld, the Seller shall not, without limitation, apply funds received, take or defer taking any servicing action (including restructuring or reamortizing), or waive a substantive default with respect to any Related Loan if so doing materially increases the amount of Xxxxxx Mac’s risk of or actual loss with respect to the relationship (i.e., the Qualified Loan plus all Related Loans). (f) With respect to either Qualified Participation Interests or Qualified Loans that are part of a syndication, the Seller shall provide promptly upon receipt any notices, requests for consent, or other information received from the lead lending institution for such Qualified Participation Interest or Qualified Loan, or from any other participant or lending institutions in the syndicate, as applicable. To the extent that the Seller is the lead agent or lead lending institution in the participation arrangement or syndication, as applicable, the Seller shall provide any such notices, requests for consent, or other information to Xxxxxx Mac concurrently with the remaining members of the participation or syndication.