Common use of Conveyance of Mortgage Loans; Retention of Obligation to Fund Advances Under Credit Line Agreements Clause in Contracts

Conveyance of Mortgage Loans; Retention of Obligation to Fund Advances Under Credit Line Agreements. (a) Concurrently with the execution and delivery of this Agreement, the Depositor hereby transfers to the Trust without recourse (subject to Sections 2.02 and 2.04) all of its right, title, and interest in (1) each Initial Mortgage Loan, including its Asset Balance (including all Additional Balances), the related Mortgage File, all property that secures the Mortgage Loan, and all collections received on it after the Cut-off Date (excluding payments due by the Cut-off Date); (2) property that secured an Initial Mortgage Loan that is acquired by foreclosure or deed in lieu of foreclosure; (3) the Depositor’s rights under the Purchase Agreement; (4) the Depositor’s rights under the hazard insurance policies; (5) all rights under any guaranty executed in connection with a Mortgage Loan; (6) all other assets included or to be included in the Trust for the benefit of the Secured Parties; and (7) all proceeds of the foregoing. This transfer to the Trust is to the Owner Trustee, on behalf of the Trust, and each reference in this Agreement to this transfer shall be construed accordingly. In addition, by the Closing Date, the Depositor shall cause the Credit Enhancer to deliver the Policy to the Indenture Trustee for the benefit of the Holders of the Insured Notes.

Conveyance of Mortgage Loans; Retention of Obligation to Fund Advances Under Credit Line Agreements. (a) Concurrently with the execution and delivery of this Agreement, the Depositor hereby transfers to the Trust without recourse (subject to Sections 2.02 and 2.04) all of its right, title, and interest in (1) each Initial Mortgage Loan, including its Asset Balance (including all Additional Balances), the related Mortgage File, all property that secures the Mortgage Loan, and all collections received on it after the Cut-off Date (excluding payments due by the Cut-off Date); (2) property that secured an Initial a Mortgage Loan that is acquired by foreclosure or deed in lieu of foreclosure; (3) the Depositor’s rights under the Purchase Agreement; (4) the Depositor’s rights under the hazard insurance policies; (5) all rights under any guaranty executed in connection with a Mortgage Loan; (6) all other assets included or to be included in the Trust for the benefit of the Secured Parties; and (7) all proceeds of the foregoing. This transfer to the Trust is to the Owner Trustee, on behalf of the Trust, and each reference in this Agreement to this transfer shall be construed accordingly. In addition, by the Closing Date, the Depositor shall cause the Credit Enhancer to deliver the Policy to the Indenture Trustee for the benefit of the Holders of the Insured Notes. (b) [RESERVED].

Conveyance of Mortgage Loans; Retention of Obligation to Fund Advances Under Credit Line Agreements. (a) Concurrently The Depositor, concurrently with the execution and delivery of this Agreement, the Depositor does hereby transfers transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) all of its right, title, title and interest in in and to (1i) each Initial Mortgage Loan, including its Asset Principal Balance (including all Additional Balances), the related Mortgage File, all property that secures the Mortgage Loan, ) and all collections in respect thereof received on it after the Cut-off Date Off Date; (excluding payments due by the Cut-off Date); (2ii) property that secured an Initial a Mortgage Loan that is acquired by foreclosure or deed in lieu of foreclosure; ; (3iii) the Depositor’s 's rights (but none of its obligations) under the Purchase Agreement; ; (4iv) the Depositor’s 's rights under the hazard insurance policies; , (5v) all rights under any guaranty executed the amounts on deposit in connection with a Mortgage Loan; the Spread Account and (6vi) all other assets included or to be included in the Trust for the benefit of Investor Certificateholders; provided, however, that neither the Secured Parties; and (7) all proceeds Trustee nor the Trust assumes the obligation under any Credit Line Agreement that provides for the funding of future advances to the Mortgagor thereunder, and neither the Trust nor the Trustee shall be obligated or permitted to fund any such future advances. Additional Balances shall be part of the foregoing. This transfer related Principal Balance and are hereby transferred to the Trust is on the Closing Date pursuant to the Owner Trusteethis Section 2.01, on behalf and therefore part of the Trust, and each reference in this Agreement to this transfer shall be construed accordinglyTrust property. In addition, by on or prior to the Closing Date, the Depositor shall cause the Credit Enhancer to deliver the Policy to the Indenture Trustee for the benefit of the Holders of the Insured Notes.the