Common use of Annual Accountants’ Report Clause in Contracts

Annual Accountants’ Report. On or before [____________] and on or before each [________] thereafter, the Servicer shall deliver to the Issuer and the Trustee with a copy to each Rating Agency a report, prepared by a firm of Independent Accountants of recognized national standing selected by the Servicer, to the effect that (i) they have examined certain documents and records relating to the Mortgage Loans, in accordance with the requirements of the Uniform Single Audit Program and (ii) their examinations disclosed no exceptions which, in their opinion, were material, relating to such Mortgage Loans, or, if any such exceptions were disclosed thereby, setting forth such exceptions which, in their opinion, were material. If any of the Mortgage Loans are being serviced by a Person other than the Servicer, as permitted by Section 2.06 hereof, the firm of Independent Accountants preparing the report with respect to the servicing of such Mortgage Loans by the Servicer may rely, as to matters relating to the servicing of such Mortgage Loans, upon a comparable report (rendered with respect to the most recent fiscal year of such other Person which ended at or prior to the end of the Servicer's fiscal year) of another firm of Independent Accountants with respect to such other Person's servicing of such Mortgage Loans.

Annual Accountants’ Report. On or before [____________] March 31, 1997 and on or before each [________] March 31st thereafter, the Servicer shall deliver to the Issuer and the Trustee with a copy to each Rating Agency a report, prepared by a firm of Independent Accountants of recognized national standing selected by the Servicer, to the effect that (i) they have examined certain documents and records relating to the Mortgage LoansNotes, in accordance with the requirements of the Uniform Single Audit Program and (ii) their examinations disclosed no exceptions which, in their opinion, were material, relating to such Mortgage LoansNotes, or, if any such exceptions were disclosed thereby, setting forth such exceptions which, in their opinion, were material. If any of the Mortgage Loans Notes are being serviced by a Person other than the Servicer, as permitted by Section 2.06 hereof, the firm of Independent Accountants preparing the report with respect to the servicing of such Mortgage Loans Notes by the Servicer may rely, as to matters relating to the servicing of such Mortgage LoansNotes, upon a comparable report (rendered with respect to the most recent fiscal year of such other Person which ended at or prior to the end of the Servicer's fiscal year) of another firm of Independent Accountants with respect to such other Person's servicing of such Mortgage LoansNotes.

Annual Accountants’ Report. On or before [____________] March 31, 2000 and on or before each [________] March 31st thereafter, the Servicer shall deliver to the Issuer and the Trustee with a copy to each Rating Agency a report, prepared by a firm of Independent Accountants of recognized national standing selected by the Servicer, to the effect that (i) they have examined certain documents and records relating to the Mortgage Loans, in accordance with the requirements of the Uniform Single Audit Attestation Program for Mortgage Bankers established by the Mortgage Bankers Association of America and (ii) their examinations disclosed no exceptions which, in their opinion, were material, relating to such Mortgage Loans, or, if any such exceptions were disclosed thereby, setting forth such exceptions which, in their opinion, were material. If any of the Mortgage Loans are being serviced by a Person other than the Servicer, as permitted by Section 2.06 hereof, the firm of Independent Accountants preparing the report with respect to the servicing of such Mortgage Loans by the Servicer may rely, as to matters relating to the servicing of such Mortgage Loans, upon a comparable report (rendered with respect to the most recent fiscal year of such other Person which ended at or prior to the end of the Servicer's fiscal year) of another firm of Independent Accountants with respect to such other Person's servicing of such Mortgage Loans.

Annual Accountants’ Report. On or before [____________] March 31, 1997 and on or before each [________] March 31st thereafter, the Servicer shall deliver to the Issuer and the Trustee with a copy to each Rating Agency Owner a report, prepared by a firm of Independent Accountants of recognized national standing selected by the Servicer, to the effect that (i) they have examined certain documents and records relating to the Mortgage LoansNotes, in accordance with the requirements of the Uniform Single Audit Program and (ii) their examinations disclosed no exceptions which, in their opinion, were material, relating to such Mortgage LoansNotes, or, if any such exceptions were disclosed thereby, setting forth such exceptions which, in their opinion, were material. If any of the Mortgage Loans Notes are being serviced by a Person other than the Servicer, as permitted by Section 2.06 hereof, the firm of Independent Accountants preparing the report with respect to the servicing of such Mortgage Loans Notes by the Servicer may rely, as to matters relating to the servicing of such Mortgage LoansNotes, upon a comparable report (rendered with respect to the most recent fiscal year of such other Person which ended at or prior to the end of the Servicer's fiscal year) of another firm of Independent Accountants with respect to such other Person's servicing of such Mortgage LoansNotes.