Common use of Monitoring of Servicer Clause in Contracts

Monitoring of Servicer. 94- SECTION 4.04 Fidelity Bond................................................................................-95- SECTION 4.05 Power to Act; Procedures.....................................................................-95- SECTION 4.06 Due-on-Sale Clauses; Assumption Agreements...................................................-96- SECTION 4.07 Reserved.....................................................................................-96- SECTION 4.08 Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..................................................................................-96- SECTION 4.09 Standard Hazard Insurance and Flood Insurance Policies.......................................-97- SECTION 4.10 Presentment of Claims and Collection of Proceeds.............................................-97- SECTION 4.11 Reserved.....................................................................................-97- SECTION 4.12 Trustee to Retain Possession of Certain Insurance Policies and Documents ............................................................................................-97- SECTION 4.13 Realization Upon Defaulted Mortgage Loans....................................................-98- SECTION 4.14 Compensation for the Master Servicer.........................................................-98- SECTION 4.15 REO Property.................................................................................-98- SECTION 4.16 Annual Officer's Certificate as to Compliance................................................-99- SECTION 4.17 Annual Independent Accountant's Servicing Report.............................................-99- SECTION 4.18 UCC.........................................................................................-100- SECTION 4.19 Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls..................................................................................-100- SECTION 4.20 Reserved....................................................................................-100- SECTION 4.21 Prepayment Penalty Verification.............................................................-100-

Monitoring of Servicer. 94- 107- SECTION 4.04 Fidelity Bond................................................................................-95- ...............................................................................-108- SECTION 4.05 Power to Act; Procedures.....................................................................-95- ....................................................................-108- SECTION 4.06 Due-on-Sale Clauses; Assumption Agreements...................................................-96- ..................................................-109- SECTION 4.07 Reserved.....................................................................................-96- ....................................................................................-109- SECTION 4.08 Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..................................................................................-96- .................................................................................-109- SECTION 4.09 Standard Hazard Insurance and Flood Insurance Policies.......................................-97- ......................................-110- SECTION 4.10 Presentment of Claims and Collection of Proceeds.............................................-97- ............................................-110- SECTION 4.11 Reserved.....................................................................................-97- ....................................................................................-110- SECTION 4.12 Trustee to Retain Possession of Certain Insurance Policies and Documents ............................................................................................-97- Reserved....................................................................................-110- SECTION 4.13 Realization Upon Defaulted Mortgage Loans....................................................-98- ...................................................-110- SECTION 4.14 Compensation for the Master Servicer.........................................................-98- ........................................................-111- SECTION 4.15 REO Property.................................................................................-98- ................................................................................-111- SECTION 4.16 Annual Officer's Certificate as to Compliance................................................-99- ...............................................-111- SECTION 4.17 Annual Independent Accountant's Servicing Report.............................................-99- ............................................-112- SECTION 4.18 UCC.........................................................................................-100- -112- SECTION 4.19 Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls..................................................................................-100- SECTION 4.20 Reserved....................................................................................-100- SECTION 4.21 Prepayment Penalty Verification.............................................................-100--112-

Monitoring of Servicer. 94- 86- SECTION 4.04 4.04. Fidelity Bond................................................................................-95- ............................................ -87- SECTION 4.05 4.05. Power to Act; Procedures.....................................................................-95- ................................. -87- SECTION 4.06 4.06. Due-on-Sale Clauses; Assumption Agreements...................................................-96- ............... -88- SECTION 4.07 4.07. Reserved.....................................................................................-96- ................................................. -88- SECTION 4.08 4.08. Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..................................................................................-96- ................... -88- SECTION 4.09 4.09. Standard Hazard Insurance and Flood Insurance Policies.......................................-97- ... -89- SECTION 4.10 4.10. Presentment of Claims and Collection of Proceeds.............................................-97- ......... -89- SECTION 4.11 Reserved.....................................................................................-97- 4.11. Maintenance of the Primary Mortgage Insurance Policies... -89- SECTION 4.12 4.12. Trustee to Retain Possession of Certain Insurance Policies and Documents ............................................................................................-97- Documents................................... -90- SECTION 4.13 4.13. Realization Upon Defaulted Mortgage Loans....................................................-98- ................ -90- SECTION 4.14 4.14. Compensation for the Master Servicer.........................................................-98- ..................... -90- SECTION 4.15 4.15. REO Property.................................................................................-98- ............................................. -90- SECTION 4.16 4.16. Annual Officer's Certificate as to Compliance................................................-99- ............ -91- SECTION 4.17 4.17. Annual Independent Accountant's Servicing Report.............................................-99- ......... -92- SECTION 4.18 4.18. UCC.........................................................................................-100- ...................................................... -92- SECTION 4.19 4.19. Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls..................................................................................-100- ........................... -92- SECTION 4.20 Reserved....................................................................................-100- 4.20. Collection Account....................................... -92- SECTION 4.21 4.21. Prepayment Penalty Verification.............................................................-100-.......................... -93-

Monitoring of Servicer. 94- 104 SECTION 4.04 4.04. Fidelity Bond................................................................................-95- ........................................................................105 SECTION 4.05 4.05. Power to Act; Procedures.....................................................................-95- .............................................................105 SECTION 4.06 4.06. Due-on-Sale Clauses; Assumption Agreements...................................................-96- ...........................................106 SECTION 4.07 Reserved.....................................................................................-96- SECTION 4.08 4.07. Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..................................................................................-96- ..........................................................................107 SECTION 4.09 4.08. Standard Hazard Insurance and Flood Insurance Policies.......................................-97- ...............................107 SECTION 4.10 4.09. Presentment of Claims and Collection of Proceeds.............................................-97- .....................................107 SECTION 4.11 Reserved.....................................................................................-97- 4.10. Maintenance of Primary Mortgage Insurance Policies...................................108 SECTION 4.12 4.11. Trustee to Retain Possession of Certain Insurance Policies and Documents ............................................................................................-97- Documents.............108 SECTION 4.13 4.12. Realization Upon Defaulted Mortgage Loans....................................................-98- ............................................109 SECTION 4.14 4.13. Compensation for the Master Servicer.........................................................-98- .................................................109 SECTION 4.15 4.14. REO Property.................................................................................-98- .........................................................................109 SECTION 4.16 4.15. Annual Officer's Certificate as to Compliance................................................-99- ........................................110 SECTION 4.17 4.16. Annual Independent Accountant's Servicing Report.............................................-99- .....................................110 SECTION 4.18 4.17. UCC.........................................................................................-100- ..................................................................................111 SECTION 4.19 4.18. Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls..................................................................................-100- .......111 SECTION 4.20 Reserved....................................................................................-100- SECTION 4.21 4.19. Prepayment Penalty Verification.............................................................-100-......................................................111 ARTICLE V PAYMENTS TO CERTIFICATEHOLDERS...........................................................113 SECTION 5.01. Distributions........................................................................113 SECTION 5.02. Statements to Certificateholders.....................................................128 SECTION 5.03. Servicer Reports; P&I Advances.......................................................131 SECTION 5.04. Allocation of Realized Losses........................................................133