CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- SECTION 2.04. Reserved............................................................................-55- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. Issuance of Class R Certificates....................................................-58- SECTION 2.10. Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Servicers...........................................................................-61- SECTION 3.03. Successor Sub-Servicers.............................................................-62- SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-Servicers, the Trustee or the Certificateholders...........................................................-63- SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by the Trustee.............................................................................-63- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2003-5), Distribution Instructions (New Century Mortgage Sec Home Equity Loan Ser 2003-4)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- .............................................................-47- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- .............................................................-49- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- Originator..........................................................................-50- SECTION 2.04. Reserved............................................................................-55- .....................................................................................-52- SECTION 2.05. Representations, Warranties and Covenants of thethe Servicer....................................-55- -52- SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- -54- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- ..................................................................-55- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. Issuance of Class R Certificates....................................................-58- SECTION 2.10. Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- .............................................................-55- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer..................................................................-57- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- .......................................................................-59- SECTION 3.03. Successor Sub-Servicers.............................................................-62- ......................................................................-60- SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-ServicersServicer, the Trustee or the Certificateholders...........................................................-63- ..............................................................-60- SECTION 3.063.05. Assumption or Termination of Sub-Servicing Agreements Agreement by the Trustee.............................................................................-63- Trustee ............................................................................-60- SECTION 3.06. [Reserved]...................................................................................-60- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- .................................................-61- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- [Reserved]...................................................................................-61- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- -61- SECTION 3.10. Collection Account, Distribution Account and Distribution Account.........................................-65- Initial Deposit Accounts............................................................................-62- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- .............................-64- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IVInvestment Accounts...............................................-66-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2004-Nc1)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- .............................-51- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- .............................-53- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- Responsible Parties......................................-54- SECTION 2.04. Reserved............................................................................-55- .....................................................-57- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the ............................................................-57- SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- .....................................................-59- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- SECTION ......................................-59- 2.08. [Reserved]..........................................................................-58- ...................................................-59- SECTION 2.09. Issuance of Class R Certificates....................................................-58- SECTION 2.10. Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- .............................-59- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- ...................................-61- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Servicers...........................................................................-61- ....................................................-63- SECTION 3.03. Successor Sub-Servicers.............................................................-62- ......................................-64- SECTION 3.04. Liability of the Master Servicer....................................................-62- .............................-64- SECTION 3.05. No Contractual Relationship Between Sub-Servicers, Servicers and the Trustee or the Certificateholders...........................................................-63- ................................-65- SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by the Trustee.............................................................................-63- ......................................................-65- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- .................-66- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- .......................................-66- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- .....................................................-67- SECTION 3.10. Collection Account and Distribution Account.........................................-65- ..................-67- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV......................................................-70-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Mort Sec Inc Home Equity Ln Tr Se 2003 B)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- ...................................................................57 SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- ..........................................................................60 SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Originator or the Seller..........................-52- .........................................................................................61 SECTION 2.04. Reserved............................................................................-55- Intentionally Omitted..........................................................................64 SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the Servicer......................................64 SECTION 2.06. Representations and Warranties of the Depositor................................................66 SECTION 2.07. Issuance of the Certificates.......................................................................67 SECTION 2.08. Conveyance of Subsequent Mortgage Loans SECTION 2.09. Conveyance of REMIC I Regular Interests and the Class R-I Interest............................................................................-57- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II 2 and REMIC 3 by the Trustee.............................................................-57- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. ; Issuance of Class R Certificates....................................................-58- SECTION 2.10. Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- ...........................................71 ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer....................................................................72 SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- ....................................74 SECTION 3.03. Successor Sub-Servicers.............................................................-62- ........................................................................75 SECTION 3.04. Liability of the Master Servicer....................................................-62- ......................................................................75 SECTION 3.05. No Contractual Relationship Between Sub-Servicers, Servicers and the Trustee or the Certificateholders...........................................................-63- .............................................................................75 SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by the Trustee.............................................................................-63- ........................................................................................75 SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- ...................................................76 SECTION 3.08. Sub-Servicing Accounts..............................................................-64- .........................................................................76 SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IVAccounts ..............................................................................................77
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Meritage Mortgage Loan Trust 2004-2)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- -72- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- -74- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- -76- SECTION 2.04. Reserved............................................................................-55- -78- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the ...................................-78- SECTION 2.06. Issuance of the REMIC I I-A Regular Interests and the Class R-I Interest............................................................................-57- Certificates........................................................................-80- SECTION 2.07. Conveyance of the REMIC I I-A Regular Interests, REMIC I-B Regular Interests and REMIC I-C Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- ......................................................................-81- SECTION 2.08. [Reserved]..........................................................................-58- Conveyance of the REMIC II Regular Interests; Acceptance of REMIC III by the Trustee. SECTION 2.09. Issuance of Class R Residual Certificates....................................................-58- SECTION 2.10. Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- ...................................................-82- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- .................................................................-83- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Servicers...........................................................................-61- Sub-Servicers ...................................................................................-85- SECTION 3.03. Successor Sub-Servicers.............................................................-62- -86- SECTION 3.04. Liability of the Master Servicer....................................................-62- ...........................................................-87- SECTION 3.05. No Contractual Relationship Between Sub-Servicers, the Trustee Trustee, the Certificate Insurer, the Guarantor or the Certificateholders...........................................................-63- Certificateholders ...................................................................................-87- SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by the Trustee.............................................................................-63- -87- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- -88- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- -89- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- -89- SECTION 3.10. Collection Account and Distribution Account.........................................-65- -90- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- ....................-92- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- .............................................................................-94- SECTION 3.13. [Reserved]..........................................................................-70- Agreement to Appoint a Special Servicer.............................................-95- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- -97- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- -98- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- -99- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- ....................................-102- SECTION 3.18. Servicing Compensation..............................................................-77- .............................................................-103- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- ..................................................................................-104- SECTION 3.20. Statement as to Compliance..........................................................-77- .........................................................-104- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- ...................................-104- SECTION 3.22. Access to Certain Documentation.....................................................-78- ....................................................-105- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- ..................................-106- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- ...........-109- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- ...........................................................................-109- SECTION 3.26. Advance Facility....................................................................-82- SECTION ...................................................................-109- 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ......................................................-110- ARTICLE IV
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust, Series 2004-A)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- ...................................................................57 SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- ..........................................................................60 SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Originator or the Seller..........................-52- .....................................................................................61 SECTION 2.04. Reserved............................................................................-55- Intentionally Omitted..........................................................................64 SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the Servicer......................................64 SECTION 2.06. Representations and Warranties of the Depositor................................................66 SECTION 2.07. Issuance of the Certificates.......................................................................67 SECTION 2.08. Conveyance of Subsequent Mortgage Loans SECTION 2.09. Conveyance of REMIC I Regular Interests and the Class R-I Interest............................................................................-57- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II 2 and REMIC 3 by the Trustee.............................................................-57- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. ; Issuance of Class R Certificates....................................................-58- SECTION 2.10. Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- .........................................71 ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer....................................................................72 SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- ....................................74 SECTION 3.03. Successor Sub-Servicers.............................................................-62- ........................................................................75 SECTION 3.04. Liability of the Master Servicer....................................................-62- ......................................................................75 SECTION 3.05. No Contractual Relationship Between Sub-Servicers, Servicers and the Trustee or the Certificateholders...........................................................-63- ..........................................................................75 SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by the Trustee.............................................................................-63- SECTION Trustee75SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- Payments76.................................................... SECTION 3.08. Sub-Servicing Accounts..............................................................-64- .........................................................................76 SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- .......................................................................................77 SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV....................................................78
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Meritage Mortgage Loan Trust 2004 1)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- -46- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- -48- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- ................................-50- SECTION 2.04. Reserved............................................................................-55- -52- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the Servicer...........................-52- SECTION 2.06. Acceptance of REMIC I by the Trustee; Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- ........................................-54- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- ; Issuance of the Regular Interests in REMIC II..................................................................................-54- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. Issuance of Class R Certificates....................................................-58- -55- SECTION 2.09. Conveyance of the Class CE Interest; Acceptance of REMIC III by the Trustee.........................................................................-55- SECTION 2.10. ....................................................................................-55- Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- the Class P Interest; Acceptance of REMIC IV by the Trustee. ................................................................................................................-55- SECTION 2.11. Issuance of Class R-X Certificates.........................................-56- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer.........................................................-57- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Servicers...........................................................................-61- Sub-Servicers ...................................................................................-59- SECTION 3.03. Successor Sub-Servicers.............................................................-62- -60- SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-ServicersServicer, the Trust Administrator, Trustee or the Certificateholders...........................................................-63- ....................................-60- SECTION 3.063.05. Assumption or Termination of Sub-Servicing Agreements Agreement by the Trustee.............................................................................-63- Trust Administrator.......................................................................-60- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.133.06. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV-61-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mort Ln Tr Asst Back Ps THR Certs Ser 2003-He3)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- -59- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- -61- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Originator or the Seller..........................-52- ..........................................................................-63- SECTION 2.04. Reserved............................................................................-55- -66- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the Servicer...........................-66- SECTION 2.06. Issuance Conveyance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II I, REMIC II, REMIC III, REMIC IV and REMIC V by the Trustee.............................................................-57- ; Issuance of Certificates...................................................-68- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.092.07. Issuance of Class R Certificates and Class R-X Certificates....................................................-58- SECTION 2.10. Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- .........................-69- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer.........................................................-70- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Servicers...........................................................................-61- Sub-Servicers ...................................................................................-72- SECTION 3.03. Successor Sub-Servicers.............................................................-62- -73- SECTION 3.04. Liability of the Master Servicer....................................................-62- ...........................................................-73- SECTION 3.05. No Contractual Relationship Between Sub-ServicersServicers and the NIMS Insurer, the Trustee or the Certificateholders...........................................................-63- ..............................................-73- SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by the Trustee.............................................................................-63- -74- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- -74- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- -75- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- -75- SECTION 3.10. Collection Account and Distribution Account.........................................-65- -76- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- -78- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV.............................................................................-81-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2004-Fre1)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- ...........................-47- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- ...........................-49- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- Originator.................................................-50- SECTION 2.04. Reserved............................................................................-55- ...................................................-52- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the Servicer..-52- SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- ...............................................-54- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- ................................-55- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. Issuance of Class R Certificates....................................................-58- ...........................-55- SECTION 2.09. Conveyance of the Class M-4 Interest; Acceptance of REMIC III by the Trustee...................................-55- SECTION 2.10. Conveyance of Delayed Delivery Group the Class M-5 Interest; Acceptance of REMIC IV by the Trustee....................................-55- SECTION 2.11. Conveyance of the Class CE-I Mortgage Loans...............................-58- Interest and the Class CE-II Interest; Acceptance of REMIC V by the Trustee.......-55- SECTION 2.12. Conveyance of the Class P Interest; Acceptance of REMIC VI by the Trustee...................................-56- SECTION 2.13. Issuance of Class R-X Certificates.........................-56- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer................................-57- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- ..............................................-59- SECTION 3.03. Successor Sub-Servicers.............................................................-62- ....................................-60- SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-ServicersServicer, the Trustee or the Certificateholders...........................................................-63- ..................................-60- SECTION 3.063.05. Assumption or Termination of Sub-Servicing Agreements Agreement by the Trustee.............................................................................-63- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV...................................................-60-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- .............................................................-47- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- .............................................................-49- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- Originator..........................................................................-50- SECTION 2.04. Reserved............................................................................-55- .....................................................................................-52- SECTION 2.05. Representations, Warranties and Covenants of thethe Servicer....................................-55- -52- SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- -54- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- ..................................................................-55- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. Issuance of Class R Certificates....................................................-58- .............................................................-55- SECTION 2.09. Conveyance of the Class M-4 Interest; Acceptance of REMIC III by the Trustee......................................................................-55- SECTION 2.10. Conveyance of Delayed Delivery Group the Class M-5 Interest; Acceptance of REMIC IV by the Trustee......................................................................-55- SECTION 2.11. Conveyance of the Class CE-I Mortgage Loans...............................-58- Interest and the Class CE-II Interest; Acceptance of REMIC V by the Trustee......................................-55- SECTION 2.12. Conveyance of the Class P Interest; Acceptance of REMIC VI by the Trustee.............................................................................-56- SECTION 2.13. Issuance of Class R-X Certificates...........................................................-56- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer..................................................................-57- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- .......................................................................-59- SECTION 3.03. Successor Sub-Servicers.............................................................-62- ......................................................................-60- SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-ServicersServicer, the Trustee or the Certificateholders...........................................................-63- ..............................................................-60- SECTION 3.063.05. Assumption or Termination of Sub-Servicing Agreements Agreement by the Trustee.............................................................................-63- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing AccountsTrustee ............................................................................-64- SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV-60-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Broth Mort Sec Vii Inc Citi Hm Eq Ln Tr Se 2003-He1)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- -47- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- -49- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- Originator..........................................................................-50- SECTION 2.04. Reserved............................................................................-55- -52- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the Servicer...........................-52- SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- -54- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- ...................................................................-55- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. Issuance of Class R Certificates....................................................-58- -55- SECTION 2.09. Conveyance of the Class M-4 Interest; Acceptance of REMIC III by the Trustee.............................................................................-55- SECTION 2.10. Conveyance of Delayed Delivery Group the Class M-5 Interest; Acceptance of REMIC IV by the Trustee.............................................................................-55- SECTION 2.11. Conveyance of the Class CE-I Mortgage Loans...............................-58- Interest and the Class CE-II Interest; Acceptance of REMIC V by the Trustee................................................-55- SECTION 2.12. Conveyance of the Class P Interest; Acceptance of REMIC VI by the Trustee.............................................................................-56- SECTION 2.13. Issuance of Class R-X Certificates..................................................-56- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer.........................................................-57- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- .......................................................................-59- SECTION 3.03. Successor Sub-Servicers.............................................................-62- -60- SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-ServicersServicer, the Trust Administrator, Trustee or the Certificateholders...........................................................-63- ...................................................-60- SECTION 3.063.05. Assumption or Termination of Sub-Servicing Agreements Agreement by the Trustee.............................................................................-63- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IVTrust Administrator.......................................................................-60-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brother Mort Sec Inc Sal Hm Eq Ln Tr Ser 2002 Wmc2)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. 2.01 Conveyance of the Mortgage Loans....................................................-49- ...............................................................45 SECTION 2.02. 2.02 Acceptance of REMIC I by Trustee....................................................-51- ...............................................................47 SECTION 2.03. 2.03 Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- Originator.................................48 SECTION 2.04. 2.04 Reserved............................................................................-55- .......................................................................................51 SECTION 2.05. 2.05 Representations, Warranties and Covenants of the....................................-55- the Servicer......................................51 SECTION 2.06. 2.06 Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- ...........................53 SECTION 2.07. 2.07 Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- .............53 SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. 2.08 Issuance of Class R Certificates....................................................-58- ...............................................................54 SECTION 2.10. 2.09 Conveyance of Delayed Delivery Group I Mortgage Loans...............................-58- the Class M-4 Interest; Acceptance of REMIC III by the Trustee...................54 SECTION 2.10 Conveyance of the Class M-5 Interest; Acceptance of REMIC IV by the Trustee....................54 SECTION 2.11 Conveyance of the Class M-6 Interest; Acceptance of REMIC V by the Trustee.....................55 SECTION 2.12 Conveyance of the Class M-7 Interest; Acceptance of REMIC VI by the Trustee....................55 SECTION 2.13 Conveyance of the Class CE Interest; Acceptance of REMIC VII by the Trustee....................55 SECTION 2.14 Conveyance of the Class P Interest; Acceptance of REMIC VIII by the Trustee....................56 SECTION 2.15 Issuance of Class R-X Certificates.............................................................56 ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master 3.01 Servicer to Act as ..........................................................-59- Servicer....................................................................57 SECTION 3.02. 3.02 Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- ....................................59 SECTION 3.03. 3.03 Successor Sub-Servicers.............................................................-62- ........................................................................60 SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. 3.04 No Contractual Relationship Between Sub-ServicersServicer, the Trust Administrator, Trustee or the Certificateholders...........................................................-63- ..............................................................60 SECTION 3.06. 3.05 Assumption or Termination of Sub-Servicing Agreements by the Trustee.............................................................................-63- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- SECTION 3.10. Collection Account and Distribution Account.........................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- SECTION 3.13. [Reserved]..........................................................................-70- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- SECTION 3.15. Enforcement of Due-On-Sale Clauses; Assumption Agreements ...................................................................................-72- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- SECTION 3.18. Servicing Compensation..............................................................-77- SECTION 3.19. Reports to the Trustee and Others; Collection Account Statements ...................................................................................-77- SECTION 3.20. Statement as to Compliance..........................................................-77- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- SECTION 3.22. Access to Certain Documentation.....................................................-78- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- SECTION 3.25. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- SECTION 3.26. Advance Facility....................................................................-82- SECTION 3.28 Net WAC Rate Carryover Reserve Account..............................................-83- SECTION 3.29 Reserved............................................................................-85- ARTICLE IVAgreement by
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mort Loan Trust Inc Asset Bk Pas THR Ce Se 03 He2)
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE. OF CERTIFICATES SECTION 2.01. Conveyance of the Mortgage Loans....................................................-49- ..................................... -47- SECTION 2.02. Acceptance of REMIC I by Trustee....................................................-51- ..................................... -49- SECTION 2.03. Repurchase or Substitution of Mortgage Loans by the Seller..........................-52- Originator........................................................... -50- SECTION 2.04. Reserved............................................................................-55- ............................................................. -52- SECTION 2.05. Representations, Warranties and Covenants of the....................................-55- the Servicer............ -52- SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest............................................................................-57- ............................................................. -54- SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II by the Trustee.............................................................-57- ................................................... -55- SECTION 2.08. [Reserved]..........................................................................-58- SECTION 2.09. Issuance of Class R Certificates....................................................-58- ..................................... -55- SECTION 2.09. Conveyance of the Class M-4 Interest; Acceptance of REMIC III by the Trustee....................................................... -55- SECTION 2.10. Conveyance of Delayed Delivery Group the Class M-5 Interest; Acceptance of REMIC IV by the Trustee....................................................... -55- SECTION 2.11. Conveyance of the Class CE-I Mortgage Loans...............................-58- Interest and the Class CE-II Interest; Acceptance of REMIC V by the Trustee....................... -55- SECTION 2.12. Conveyance of the Class P Interest; Acceptance of REMIC VI by the Trustee.............................................................. -56- SECTION 2.13. Issuance of Class R-X Certificates................................... -56- ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01. Master Servicer to Act as ..........................................................-59- Servicer.......................................... -57- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Sub-Servicers...........................................................................-61- ........................................................ -59- SECTION 3.03. Successor Sub-Servicers.............................................................-62- .............................................. -60- SECTION 3.04. Liability of the Master Servicer....................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-ServicersServicer, the Trustee or -i- the Certificateholders...........................................................-63- ............................................... -60- SECTION 3.063.05. Assumption or Termination of Sub-Servicing Agreements Agreement by the Trustee.............................................................................-63- Trustee ............................................................. -60- SECTION 3.06. [Reserved]........................................................... -60- SECTION 3.07. Collection of Certain Mortgage Loan Payments........................................-64- ......................... -61- SECTION 3.08. Sub-Servicing Accounts..............................................................-64- [Reserved]........................................................... -61- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- ............................................................. -61- SECTION 3.10. Collection Account, Distribution Account and Distribution Account.........................................-65- Initial Deposit Accounts............................................................. -62- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................................................................-68- ..... -64- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account................................................................-69- Investment Accounts....................... -66- SECTION 3.13. [Reserved]..........................................................................-70- Reserved]........................................................... -67- SECTION 3.14. Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...................................................................-71- .................................................... -67- SECTION 3.15. Enforcement of Due-Onon-Sale Clauses; Assumption Agreements ...................................................................................-72- Agreements............ -68- SECTION 3.16. Realization Upon Defaulted Mortgage Loans...........................................-73- ............................ -69- SECTION 3.17. Trustee to Cooperate; Release of Mortgage Files.....................................-76- ...................... -71- SECTION 3.18. Servicing Compensation..............................................................-77- ............................................... -72- SECTION 3.19. Reports to the Trustee and OthersTrustee; Collection Account Statements ...................................................................................-77- Statements................ -73- SECTION 3.20. Statement as to Compliance..........................................................-77- ........................................... -73- SECTION 3.21. Independent Public Accountants' Servicing Report....................................-78- ..................... -73- SECTION 3.22. Access to Certain Documentation.....................................................-78- ...................................... -74- SECTION 3.23. Title, Management and Disposition of REO Property...................................-79- .................... -74- SECTION 3.24. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.................................................................-82- ........................................................... -77- SECTION 3.25. [Reserved]........................................................... -77- SECTION 3.26. Obligations of the Master Servicer in Respect of Mortgage Rates and Monthly Payments................................................................-82- ..................................................... -77- SECTION 3.263.27. Reserve Fund......................................................... -77- SECTION 3.28. Advance Facility....................................................................-82- ..................................................... -79- ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS SECTION 3.28 4.01. Distributions........................................................ -80- SECTION 4.02. Statements to Certificateholders..................................... -88- SECTION 4.03. Remittance Reports; Advances......................................... -91- SECTION 4.04. Allocation of Realized Losses........................................ -92- SECTION 4.05. Compliance with Withholding Requirements............................. -94- SECTION 4.06 Exchange Commission; Additional Information.......................... -95- SECTION 4.07 Net WAC Rate Carryover Reserve Account..............................................-83- ............................... -95- SECTION 3.29 Reserved............................................................................-85- ARTICLE IV4.08. Excess Net WAC Rate Reserve Fund..................................... -96-
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Securities Inc)
