Common use of CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES Clause in Contracts

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 Conveyance of Mortgage Loans................................... Section 2.02 Acceptance of the Component Mortgage Loan REMIC and REMIC I by Trustee.................................................. Section 2.03 Mortgage Loan Seller's Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Representations and Warranties of the Depositor................ Section 2.05 Representations and Warranties of the Master Servicer.......... Section 2.06 Representations and Warranties of the Special Servicer......... Section 2.07 Representations and Warranties of the Trustee and the REMIC Administrator........................................... Section 2.08 Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 Issuance of the REMIC II Certificates.......................... Section 2.12

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 SECTION 2.01. Creation of Trust; Conveyance of Mortgage Loans................................... Section 2.02 ...............................................82 SECTION 2.02. Acceptance of the Component Mortgage Loan REMIC and REMIC I Trust Fund by Trustee.................................................. Section 2.03 Mortgage Loan Seller's ...........................................................84 SECTION 2.03. Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Breaches of Representations and Warranties..................................................................................86 SECTION 2.04. Representations, Warranties and Covenants of the Depositor................ Section 2.05 Representations and Warranties ....................................88 SECTION 2.05. Acceptance of Grantor Trust Assets by Trustee; Issuance of the Master Servicer.......... Section 2.06 Representations and Warranties of the Special Servicer......... Section 2.07 Representations and Warranties of the Trustee and the REMIC Administrator........................................... Section 2.08 Class V Certificates...........90 SECTION 2.06. Execution, Authentication and Delivery of Class CP R-LR Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Interests.....................................................................91 SECTION 2.07. Conveyance of Loan REMIC Residual Interest....................................... Section 2.09 Issuance Regular Interests; Acceptance of the Loan REMICs by Trustee..........91 SECTION 2.08. Execution, Authentication and Delivery of Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 ...........................................................................91 SECTION 2.09. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 Issuance ....................92 SECTION 2.10. Execution, Authentication and Delivery of the Class R-II Certificates; Creation of REMIC II Regular Interests........................................................................92 SECTION 2.11. Conveyance of REMIC II Regular Interests; Acceptance of REMIC III by Trustee..................92 SECTION 2.12. Execution, Authentication and Delivery of REMIC III Certificates.......................... Section 2.12..............................92 ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 2.01. Conveyance of Mortgage Loans................................... Section 2.02 .......................................61 2.02. Acceptance of the Component Mortgage Loan REMIC and REMIC I by Trustee.................................................. Section 2.03 ...................................65 2.03. Mortgage Loan Seller's and Additional Warranting Parties' Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Certain Breaches of Representations and Warranties.......................67 2.04. Representations and Warranties of the Depositor................ Section 2.05 Sponsor......................69 2.05. Representations and Warranties of the Mortgage Loan Seller and the Additional Warranting Parties................................70 2.06. Representations and Warranties of the Master Servicer.......... Section 2.06 ..............85 2.07. Representations and Warranties of the Special Servicer......... Section 2.07 .............87 2.08. Representations and Warranties of the Trustee Trustee......................89 2.09. Representations and Warranties of the REMIC Administrator........................................... Section 2.08 Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Fiscal Agent.................90 2.10. Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 ........................................92 2.11. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 ..........................................92 2.12. Issuance of the Class R-II Certificates; Creation of the REMIC II Regular Interests.......................................93 2.13. Conveyance of REMIC II Regular Interests; Acceptance of REMIC III by the Trustee.........................................93 2.14. Issuance of the REMIC II III Certificates.......................... .............................93 Section 2.12Page ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 2.01. Conveyance of Mortgage Loans................................... Section 2.02 .........................................51 2.02. Acceptance of the Component Mortgage Loan REMIC and REMIC I by Trustee.................................................. Section 2.03 .....................................55 2.03. Mortgage Loan Seller's and Additional Warranting Party's Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Certain Breaches of Representations and Warranties.......................................57 2.04. Representations and Warranties of the Depositor................ Section 2.05 Sponsor........................58 2.05. Representations and Warranties of the Mortgage Loan Seller and the Additional Warranting Party..........................................59 2.06. Representations and Warranties of the Master Servicer.......... Section 2.06 ................70 2.07. Representations and Warranties of the Special Servicer......... Section 2.07 ...............72 2.08. Representations and Warranties of the Trustee Trustee........................74 2.09. Representations and Warranties of the REMIC Administrator........................................... Section 2.08 Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Fiscal Agent...................75 2.10. Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 ....................................................77 2.11. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 .......................................................77 2.12. Issuance of the REMIC II Certificates.......................... Section 2.12................................77

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 2.01. Conveyance of Mortgage Loans................................... Section 2.02 ............................................................................60 2.02. Acceptance of the Component Mortgage Loan REMIC and REMIC I by Trustee.................................................. Section 2.03 ........................................................................64 2.03. Mortgage Loan Seller's Sellers' Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Certain Breaches of Representations and Warranties...............................................66 2.04. Representations and Warranties of the Depositor................ Section 2.05 .........................................................68 2.05. Representations and Warranties of the Mortgage Loan Sellers.............................................69 2.06. Representations and Warranties of the Master Servicer.......... Section 2.06 ...................................................84 2.07. Representations and Warranties of the Special Servicer......... Section 2.07 ..................................................86 2.08. Representations and Warranties of the Trustee and Trustee...........................................................87 2.09. Acceptance of the REMIC Administrator........................................... Section 2.08 Execution, Authentication and Delivery of Class CP CertificatesGrantor Trusts by Trustee; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Issuance of the Class Y Certificates and the Class R-I Certificates; ..................................................89 2.10. Creation of the REMIC I Regular Interests..................................... Section 2.10 Interests and REMIC I Residual Interest.................................90 2.11. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 ..............................................................................90 2.12. Issuance of the Class R-II Certificates; Creation of the REMIC II Regular Interests.......................................................................90 2.13. Conveyance of REMIC II Regular Interests; Acceptance of REMIC III by the Trustee.............................................................................91 2.14. Issuance of the REMIC II III Certificates.......................... ..................................................................91 Section 2.12Page ------- ----

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 Conveyance of Mortgage Loans................................... Section ............................................48 2.02 Acceptance of the Component Mortgage Loan REMIC and REMIC I by Trustee.................................................. Section ........................................52 2.03 Mortgage Loan Seller's Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section Certain Breaches of Representations and Warranties.........54 2.04 Representations and Warranties of the Depositor................ Section .........................55 2.05 Representations and Warranties of the Mortgage Loan Seller..............56 2.06 Representations and Warranties of the Master Servicer.......... Section 2.06 ...................65 2.07 Representations and Warranties of the Special Servicer......... Section 2.07 ..................66 2.08 Representations and Warranties of the Trustee and the REMIC Administrator........................................... Section 2.08 Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section ..........................................................68 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section ......................................................69 2.10 Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section ............................................................70 2.11 Issuance of the REMIC II Certificates.......................... Section 2.12...................................70

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 SECTION 2.01. Conveyance of Mortgage Loans................................... Section 2.02 ..........................................................63 SECTION 2.02. Acceptance of the Component Mortgage Loan REMIC and REMIC I Trust Fund by Trustee.................................................. Section 2.03 ...............................................65 SECTION 2.03. Mortgage Loan Seller's Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Breaches of Representations and Warranties........................................................................66 SECTION 2.04. Representations and Warranties of the Depositor................ Section 2.05 Representations and Warranties of the Master Servicer.......... Section 2.06 Representations and Warranties of the Special Servicer......... Section 2.07 Representations and Warranties of the Trustee and the REMIC Administrator........................................... Section 2.08 ...........................................70 SECTION 2.05. Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 ...................................72 SECTION 2.06. Conveyance of REMIC I Senior Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 Issuance ................................................................72 SECTION 2.07. Execution, Authentication and Delivery of Class R-II Certificates..........................................................................72 SECTION 2.08. Conveyance of REMIC III Regular Interests; Acceptance of REMIC III by Trustee..................................................................72 SECTION 2.09. Execution, Authentication and Delivery of Class R-III Certificates..........................................................................73 SECTION 2.10. Conveyance of REMIC III Regular Interests; Acceptance of REMIC IV by Trustee...................................................................73 SECTION 2.11. Execution, Authentication and Delivery of REMIC IV Certificates..........................................................................73 ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND SECTION 3.01. Administration of the REMIC II Certificates.......................... Section 2.12Mortgage Loans..................................................73 SECTION 3.02. Collection of Mortgage Loan Payments..................................................74 SECTION 3.03. Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts............................................................76

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 SECTION 2.01. Creation of Trust; Conveyance of Mortgage Loans................................... Section 2.02 ...............................................69 SECTION 2.02. Acceptance of the Component Mortgage Loan REMIC and REMIC I Trust Fund by Trustee.................................................. Section 2.03 Mortgage Loan Seller's ...........................................................71 SECTION 2.03. Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Breaches of Representations and Warranties..............................................................72 SECTION 2.04. Representations, Warranties and Covenants of the Depositor................ Section 2.05 Representations and Warranties ....................................75 SECTION 2.05. Acceptance of Grantor Trust Assets by Trustee; Issuance of the Master Servicer.......... Section 2.06 Representations and Warranties of the Special Servicer......... Section 2.07 Representations and Warranties of the Trustee and the REMIC Administrator........................................... Section 2.08 Class V Certificates................................................................................90 SECTION 2.06. Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 ...................................................................91 SECTION 2.07. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 Issuance ....................91 SECTION 2.08. Execution, Authentication and Delivery of the Class R-II Certificates; Creation of REMIC II Regular Interests..................................................................91 SECTION 2.09. Conveyance of REMIC II Regular Interests; Acceptance of REMIC III by Trustee..................91 SECTION 2.10. Execution, Authentication and Delivery of REMIC III Certificates.......................... Section 2.12..............................92 ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 63 SECTION 2.01. Conveyance of Mortgage Loans................................... Section 2.02 ....................................... 63 SECTION 2.02. Acceptance of the Component Mortgage Loan REMIC and REMIC I Trust Fund by Trustee.................................................. Section 2.03 ............................ 65 SECTION 2.03. Mortgage Loan Seller's Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. Section 2.04 Breaches of Representations and Warranties..................................................... 66 SECTION 2.04. Representations and Warranties of the Depositor................ Section 2.05 Representations and Warranties of the Master Servicer.......... Section 2.06 Representations and Warranties of the Special Servicer......... Section 2.07 Representations and Warranties of the Trustee and the REMIC Administrator........................................... Section 2.08 ........................ 69 SECTION 2.05. Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 ................ 70 SECTION 2.06. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... Section 2.11 Issuance ................................................ 71 SECTION 2.07. Execution, Authentication and Delivery of Class R-II Certificates....................................................... 71 SECTION 2.08. Conveyance of REMIC II Regular Interests; Acceptance of REMIC III by Trustee............................................... 71 SECTION 2.09. Execution, Authentication and Delivery of REMIC III Certificates....................................................... 71 ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND................................ 72 SECTION 3.01. Administration of the REMIC II Certificates.......................... Section 2.12Mortgage Loans............................... 72 SECTION 3.02. Collection of Mortgage Loan Payments............................... 73 SECTION 3.03. Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts......................................... 76 SECTION 3.04. Certificate Account, Interest Reserve Account and Distribution Account............................................................ 80 SECTION 3.05. Permitted Withdrawals From the Certificate Account, Interest Reserve Account and the Distribution Account....................... 83 SECTION 3.06. Investment of Funds in the Servicing Accounts, the Reserve Accounts, the Certificate Account, the Distribution Account and the REO Account.................................................... 88 SECTION 3.07. Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage.................................................. 90 SECTION 3.08. Enforcement of Alienation Clauses.................................. 92

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section SECTION 2.01 Conveyance of Trust Mortgage Loans................................... Section .......................................... 92 SECTION 2.02 Acceptance of the Component Mortgage Loan REMIC and REMIC I Trust Fund by Trustee.................................................. Section ..................................... 95 SECTION 2.03 Mortgage Loan Seller's Repurchase or Substitution of Trust Mortgage Loans for Material Document Defects and Material Breaches............................................. Section Breaches of Representations and Warranties......... 97 SECTION 2.04 Representations and Warranties of the Depositor................ Section ................................. 101 SECTION 2.05 Representations and Warranties of the Master Servicer.......... Section 2.06 Representations and Warranties of the Special Servicer......... Section 2.07 Representations and Warranties of the Trustee and the REMIC Administrator........................................... Section 2.08 Execution, Authentication and Delivery of Class CP Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... Section 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... Section 2.10 Conveyance of REMIC I Regular Interests; Acceptance of REMIC I, REMIC II and Grantor Trust Y by the Trustee....................................... Section 2.11 .................................................. 103 SECTION 2.06 Issuance of the REMIC I Interests............................................... 103 SECTION 2.07 Execution, Authentication and Delivery of REMIC II Certificates.......................... Section 2.12............. 103 SECTION 2.08 Execution, Authentication and Delivery of Class Y Certificates.............. 103 ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND SECTION 3.01 Administration of the Serviced Mortgage Loans............................... 104 SECTION 3.02 Collection of Trust Mortgage Loan Payments.................................. 106 SECTION 3.03 Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts............................................................ 109 SECTION 3.04 Collection Accounts, Interest Reserve Account, Gain-on-Sale Reserve Account, Additional Interest Account, Distribution Account and A/B Custodial Accounts.................................................................... 114 SECTION 3.05 Permitted Withdrawals from the Collection Accounts, Interest Reserve Account, Additional Interest Account, Distribution Account and A/B Custodial Accounts.................................................................... 121 SECTION 3.06 Investment of Funds in the Servicing Accounts, Reserve Accounts, Collection Accounts, Interest Reserve Account, Distribution Account, A/B Custodial Accounts, Gain-on-Sale Reserve Account, Additional Interest Account, and REO Accounts................................................................ 133 SECTION 3.07 Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage.................................................................... 135

CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01 Conveyance of Mortgage Loans................................... .................................... Section 2.02 Acceptance of the Component Mortgage Loan REMIC and REMIC I by Trustee.................................................. ................................................... Section 2.03 Mortgage Loan Seller's Repurchase or Substitution of Mortgage Loans for Material Document Defects and Material Breaches............................................. .............................................. Section 2.04 Representations and Warranties of the Depositor................ ................. Section 2.05 Representations and Warranties of the Master Servicer.......... ........... Section 2.06 Representations and Warranties of the Special Servicer......... .......... Section 2.07 Representations and Warranties of the Trustee and the REMIC Administrator........................................... ............................................ Section 2.08 Execution, Authentication and Delivery of Class CP FM Certificates, Class SM Certificates and Class LM Certificates; Creation of CP Component Mortgage Loan REMIC Regular Interests and Component Mortgage Loan REMIC Residual Interest....................................... .............................................. Section 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC I Regular Interests..................................... ...................................... Section 2.10 Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by the Trustee....................................... ........................................ Section 2.11 Issuance of the REMIC II Certificates.......................... ........................... Section 2.12