Common use of Administration and Servicing of the Trust Fund Clause in Contracts

Administration and Servicing of the Trust Fund. Section 3.01. Servicer to Act as Servicer.......................................................60 Section 3.02. Collection of Mortgage Loan Payments..............................................62 Section 3.03. Realization Upon Defaulted Mortgage Loans.........................................63 Section 3.04. Collection Account and Distribution Account.......................................64 Section 3.05. Permitted Withdrawals From the Collection Account.................................66 Section 3.06. Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 Section 3.07. Permitted Withdrawals From Escrow Account.........................................67 Section 3.08. Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 Section 3.09.

Administration and Servicing of the Trust Fund. Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 ..................................................................71 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 .........................................................73 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 ....................................................74 Section 3.04. 3.04 Collection Account and Distribution Account.......................................64 ..................................................75 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 ............................................77 Section 3.06. 3.06 Establishment of Escrow AccountsAccount; Deposits in Escrow Accounts.....................67 Account..................................78 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 ....................................................78 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 ........................79 Section 3.09.

Administration and Servicing of the Trust Fund. 4 Section 3.01. Primary Servicer to Act as Primary Servicer.......................................................60 ........... 4 Section 3.02. Collection of Mortgage Loan Payments..............................................62 .................. 5 Section 3.03. Realization Upon Defaulted Mortgage Loans.........................................63 Collection of Taxes, Assessments and Similar Items; Servicing Accounts and Reserve Accounts............ 5 Section 3.04. Collection Certificate Account and Distribution Account.......................................64 Serviced Whole Loan Custodial Account Remittances................................ 5 Section 3.05. Permitted Withdrawals From the Collection Primary Servicer Account and Companion Servicer Account.................................66 ............. 6 Section 3.06. Establishment Primary Servicer Account, Companion Servicer Account and Investment of Escrow Accounts; Deposits in Escrow Accounts.....................67 Funds............................ 6 Section 3.07. Permitted Withdrawals From Escrow Account.........................................67 Section 3.08. Payment Maintenance of Taxes, Insurance Policies; Errors and Other Charges; Collections Thereunder.............68 Section 3.09.Omissions and Fidelity Coverage.................... 7

Administration and Servicing of the Trust Fund. Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 ....................................................................41 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 ...........................................................42 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 ......................................................42 Section 3.04. 3.04 Collection Account and Distribution Account.......................................64 ....................................................43 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 ..............................................45 Section 3.06. 3.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 ..................................46 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 ......................................................46 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 ; Primary Mortgage Insurance.....................................................................................46 Section 3.09.

Administration and Servicing of the Trust Fund. Section 3.01. Servicer to Act as Servicer.......................................................60 .......................................................................41 Section 3.02. Collection of Mortgage Loan Payments..............................................62 ..............................................................42 Section 3.03. Realization Upon Defaulted Mortgage Loans.........................................63 .........................................................42 Section 3.04. Collection Account and Distribution Account.......................................64 .......................................................43 Section 3.05. Permitted Withdrawals From the Collection Account.................................66 .................................................45 Section 3.06. Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 .....................................46 Section 3.07. Permitted Withdrawals From Escrow Account.........................................67 .........................................................46 Section 3.08. Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 .....................................................46 Section 3.09.

Administration and Servicing of the Trust Fund. Section 3.01. Servicer to Act as Servicer.......................................................60 59 Section 3.02. Collection of Mortgage Loan Payments..............................................62 61 Section 3.03. Realization Upon Defaulted Mortgage Loans.........................................63 61 Section 3.04. Collection Account and Distribution Account.......................................64 63 Section 3.05. Permitted Withdrawals From the Collection Account.................................66 65 Section 3.06. Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 66 Section 3.07. Permitted Withdrawals From Escrow Account.........................................67 66 Section 3.08. Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 67 Section 3.09.

Administration and Servicing of the Trust Fund. Section 3.01. Servicer to Act as Servicer.......................................................60 ...................................61 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 ..........................63 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 .....................64 Section 3.04. 3.04 Collection Account, Distribution Account and Distribution Reserve Account.......................................64 .......................................................65 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 .............69 Section 3.06. 3.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 ......................................................70 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 .....................70 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 ........................................71 Section 3.09.

Administration and Servicing of the Trust Fund. Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 ...................................63 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 ..........................65 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 .....................66 Section 3.04. 3.04 Collection Account, Distribution Account and Distribution Account.......................................64 Reserve Accounts....................................................67 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 .............71 Section 3.06. 3.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 .............................................72 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 .....................73 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 Section 3.09.......................................74

Administration and Servicing of the Trust Fund. Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 ..................................................................65 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 .........................................................67 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 ....................................................67 Section 3.04. 3.04 Collection Account and Distribution Account.......................................64 ..................................................69 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 ............................................71 Section 3.06. 3.06 Establishment of Escrow AccountsAccount; Deposits in Escrow Accounts.....................67 Account..................................72 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 ....................................................72 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 ........................73 Section 3.09.

Administration and Servicing of the Trust Fund. Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 ...................................82 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 ..........................84 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 .....................84 Section 3.04. 3.04 Collection Account, Distribution Account and Distribution Account.......................................64 Reserve Accounts......................................................86 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 .............91 Section 3.06. 3.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 ......................................................92 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 .....................93 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 ; Primary Mortgage Insurance............93 Section 3.09.

Administration and Servicing of the Trust Fund. Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 .................................61 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 ........................63 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans............................................................63 Section 3.04. 3.04 Collection Account and Distribution Account........................................................64 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account............................................66 Section 3.06. 3.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts..................................................................67 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account............................................................67 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder...................................................68 Section 3.09.

Administration and Servicing of the Trust Fund. 55 Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 ...................................................... 55 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 ............................................. 56 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 ........................................ 57 Section 3.04. 3.04 Collection Account and Distribution Account.......................................64 ...................................... 58 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 ................................ 59 Section 3.06. 3.06 Establishment of Escrow AccountsAccount; Deposits in Escrow Accounts.....................67 Account...................... 60 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 ........................................ 61 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 Section 3.09............. 61

Administration and Servicing of the Trust Fund. Section 3.01. 3.01 Servicer to Act as Servicer.......................................................60 ..................................................................63 Section 3.02. 3.02 Collection of Mortgage Loan Payments..............................................62 .........................................................65 Section 3.03. 3.03 Realization Upon Defaulted Mortgage Loans.........................................63 ....................................................66 Section 3.04. 3.04 Collection Accounts, Distribution Account and Distribution Account.......................................64 Reserve Accounts...............................67 Section 3.05. 3.05 Permitted Withdrawals From the Collection Account.................................66 Accounts...........................................71 Section 3.06. 3.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts.....................67 ................................72 Section 3.07. 3.07 Permitted Withdrawals From Escrow Account.........................................67 ....................................................73 Section 3.08. 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder.............68 ........................74 Section 3.09.