Common use of Monitoring of Servicers Clause in Contracts

Monitoring of Servicers. 110 Section 3.03 Fidelity Bond; Errors and Omissions Insurance..........111 Section 3.04 Access to Certain Documentation........................112 Section 3.05 Maintenance of Primary Mortgage Insurance Policy; Claims.................................................112 Section 3.06 Rights of the Depositor, the Securities Administrator and the Trustee in Respect of the Master Servicer......113 Section 3.07 Trustee to Act as Master Servicer......................113 Section 3.08 Servicer Custodial Accounts and Escrow Accounts........113 Section 3.09 Collection of Mortgage Loan Payments; Master Servicer Custodial Account, Certificate Account, Cap Carryover Reserve Account, Class 1-A-16 Reserve Fund, Class 1-A-18 Reserve Fund and Interest Rate Cap Agreements...114 Section 3.10 Access to Certain Documentation and Information Regarding the Mortgage Loans...........................119 Section 3.11 Permitted Withdrawals from the Certificate Account and the Master Servicer Custodial Account..................119 Section 3.12 Maintenance of Hazard Insurance and Other Insurance....121 Section 3.13 Presentment of Claims and Collection of Proceeds.......121

Monitoring of Servicers. 110 59 Section 3.03 Fidelity Bond; Errors and Omissions Insurance..........111 ............ 61 Section 3.04 Access to Certain Documentation........................112 .......................... 61 Section 3.05 Maintenance of Primary Mortgage Insurance Policy; Claims.................................................112 ........................................ 62 Section 3.06 Rights of the Depositor, the Securities Administrator and the Trustee in Respect of the Master Servicer......113 ......... 63 Section 3.07 Trustee to Act as Master Servicer......................113 ........................ 63 Section 3.08 Servicer Custodial Accounts and Escrow Accounts........113 .......... 63 Section 3.09 Collection of Mortgage Loan Payments; Master Servicer Custodial Account, Account and Certificate Account, Cap Carryover Reserve Account, Class 1-A-16 Reserve Fund, Class 1-A-18 Reserve Fund and Interest Rate Cap Agreements...114 ............. 64 Section 3.10 Access to Certain Documentation and Information Regarding the Mortgage Loans...........................119 .................................... 67 Section 3.11 Permitted Withdrawals from the Certificate Account and the Master Servicer Custodial Account..................119 ................. 67 Section 3.12 Maintenance of Hazard Insurance and Other Insurance....121 Section 3.13 Presentment of Claims and Collection of Proceeds.......121

Monitoring of Servicers. 110 Section 3.03 63 3.04. Fidelity Bond..........................................................64 3.05. Power to Act; Errors and Omissions Insurance..........111 Section 3.04 Access to Certain Documentation........................112 Section 3.05 Maintenance of Primary Mortgage Insurance PolicyProcedures...............................................64 3.06. Due on Sale Clauses; Claims.................................................112 Section 3.06 Rights of the Depositor, the Securities Administrator and the Trustee in Respect of the Master Servicer......113 Section 3.07 Trustee to Act as Master Servicer......................113 Section 3.08 Servicer Custodial Accounts and Escrow Accounts........113 Section 3.09 Collection Assumption Agreements.............................65 3.07. Release of Mortgage Loan Payments; Files..............................................65 3.08. Documents, Records and Funds in Possession of Master Servicer Custodial Account, Certificate Account, Cap Carryover Reserve Account, Class 1-A-16 Reserve Fund, Class 1-A-18 Reserve Fund and Interest Rate Cap Agreements...114 Section 3.10 Access to Certain Documentation and Information Regarding the Mortgage Loans...........................119 Section 3.11 Permitted Withdrawals from the Certificate Account and the Master Servicer Custodial Account..................119 Section 3.12 Maintenance of be Held for Trustee.......................................................66 3.09. Standard Hazard Insurance and Other Insurance....121 Section 3.13 Flood Insurance Policies.................67 3.10. Presentment of Claims and Collection of Proceeds.......121.......................67 3.11. Maintenance of Primary Mortgage Insurance Policies.....................68 3.12. Trustee to Retain Possession of Certain Insurance Policies and Documents..........................................................68 3.13. Realization Upon Defaulted Mortgage Loans..............................68 3.14. Compensation for the Master Servicer...................................69 3.15. REO Property...........................................................69 3.16. Annual Officer's Certificate as to Compliance..........................70 3.17. Annual Independent Accountant's Servicing Report.......................70 3.18. Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls....................................................71

Monitoring of Servicers. 110 58 Section 3.03 Fidelity Bond; Errors and Omissions Insurance..........111 .............................60 Section 3.04 Access to Certain Documentation........................112 ...........................................60 Section 3.05 Maintenance of Primary Mortgage Insurance Policy; Claims.................................................112 ..................60 Section 3.06 Rights of the Depositor, the Securities Administrator and the Trustee in Respect of the Master Servicer......113 ............................................61 Section 3.07 Trustee to Act as Master Servicer......................113 .........................................61 Section 3.08 Servicer Custodial Accounts and Escrow Accounts........113 ...........................62 Section 3.09 Collection of Mortgage Loan Payments; Master Servicer Custodial Account, Certificate Account, Account and Cap Carryover Reserve Account, Class 1-A-16 Reserve Fund, Class 1-A-18 Reserve Fund and Interest Rate Cap Agreements...114 ............62 Section 3.10 Access to Certain Documentation and Information Regarding the Mortgage Loans...........................119 ............................................................65 Section 3.11 Permitted Withdrawals from the Certificate Account and the Master Servicer Custodial Account..................119 ................................................66 Section 3.12 Maintenance of Hazard Insurance and Other Insurance....121 .......................67 Section 3.13 Presentment of Claims and Collection of Proceeds.......121..........................67

Monitoring of Servicers. 110 60 Section 3.03 Fidelity Bond; Errors and Omissions Insurance..........111 [Reserved]....................................................61 Section 3.04 Access to Certain Documentation........................112 Section 3.05 Maintenance of Primary Mortgage Insurance Policy; Claims.................................................112 Section 3.06 Rights of the Depositor, the Securities Administrator Depositor and the Trustee in Respect of the Master Servicer......113 ...............................................61 Section 3.07 3.05 Trustee to Act as Master Servicer......................113 .............................61 Section 3.08 Servicer Custodial Accounts and Escrow 3.06 Protected Accounts........113 ............................................62 Section 3.09 3.07 Collection of Mortgage Loan Payments; Master Servicer Custodial Collection Account; Distribution Account..........................................63 Section 3.08 Collection of Taxes, Certificate Account, Cap Carryover Reserve Account, Class 1-A-16 Reserve Fund, Class 1-A-18 Reserve Fund Assessments and Interest Rate Cap Agreements...114 Similar Items; Escrow Accounts...............................................66 Section 3.10 3.09 Access to Certain Documentation and Information Regarding the Mortgage Loans...........................119 ............................................66 Section 3.11 3.10 Permitted Withdrawals from the Certificate Collection Account and the Master Servicer Custodial Distribution Account..................119 ..........................................66 Section 3.12 3.11 Maintenance of Hazard Insurance and Other Insurance....121 ...............................68 Section 3.13 3.12 Presentment of Claims and Collection of Proceeds.......121..............69 Section 3.13 Maintenance of the Primary Insurance Policies.................69 Section 3.14 Realization upon Defaulted Mortgage Loans.....................69 Section 3.15 REO Property..................................................70 Section 3.16 Due-on-Sale Clauses; Assumption Agreements....................71 Section 3.17 Trustee to Cooperate; Release of Mortgage Files...............71 Section 3.18

Monitoring of Servicers. 110 42 Section 3.03 Fidelity Bond; Errors and Omissions Insurance..........111 3.03. [Reserved]....................................................44 Section 3.04 Access to Certain Documentation........................112 Section 3.05 Maintenance of Primary Mortgage Insurance Policy; Claims.................................................112 Section 3.06 3.04. Rights of the Depositor, the Securities Administrator Depositor and the Trustee in Respect of the Master Servicer......113 ..............................................44 Section 3.07 3.05. Trustee to Act as Master Servicer......................113 .............................44 Section 3.08 Servicer Custodial Accounts and Escrow 3.06. Protected Accounts........113 ............................................45 Section 3.09 3.07. Collection of Mortgage Loan Payments; Master Servicer Custodial Collection Account; Distribution Account.........................................45 Section 3.08. Collection of Taxes, Certificate Account, Cap Carryover Reserve Account, Class 1-A-16 Reserve Fund, Class 1-A-18 Reserve Fund Assessments and Interest Rate Cap Agreements...114 Similar Items; Escrow Accounts..............................................48 Section 3.10 3.09. Access to Certain Documentation and Information Regarding the Mortgage Loans...........................119 ...........................................48 Section 3.11 3.10. Permitted Withdrawals from the Certificate Collection Account and the Master Servicer Custodial Distribution Account..................119 .........................................48 Section 3.12 3.11. Maintenance of Hazard Insurance; Maintenance of Primary Insurance and Other Insurance....121 Policies...........................................50 Section 3.13 3.12. Presentment of Claims and Collection of Proceeds.......121..............51 Section 3.13. Maintenance of the Primary Insurance Policies.................51 Section 3.14. Realization Upon Defaulted Mortgage Loans.....................51 Section 3.15. REO Property..................................................52 Section 3.16. Due-on-Sale Clauses; Assumption Agreements....................53 Section 3.17. Trustee to Cooperate; Release of Mortgage Files...............53

Monitoring of Servicers. 110 47 Section 3.03 3.04 Fidelity Bond; Errors and Omissions Insurance..........111 Section 3.04 Access to Certain Documentation........................112 ............................................................48 Section 3.05 Maintenance of Primary Mortgage Insurance PolicyPower to Act; ClaimsProcedures.................................................112 48 Section 3.06 Rights of the Depositor, the Securities Administrator and the Trustee in Respect of the Master Servicer......113 Due-on-Sale Clauses; Assumption Agreements...............................49 Section 3.07 Trustee to Act as Master Servicer......................113 Release of Mortgage Files................................................49 Section 3.08 Documents, Records and Funds in Possession of Servicer Custodial Accounts and Escrow Accounts........113 To Be Held for Trustee..............................................................50 Section 3.09 Collection of Mortgage Loan Payments; Master Servicer Custodial Account, Certificate Account, Cap Carryover Reserve Account, Class 1-A-16 Reserve Fund, Class 1-A-18 Reserve Fund and Interest Rate Cap Agreements...114 Section 3.10 Access to Certain Documentation and Information Regarding the Mortgage Loans...........................119 Section 3.11 Permitted Withdrawals from the Certificate Account and the Master Servicer Custodial Account..................119 Section 3.12 Maintenance of Standard Hazard Insurance and Other Insurance....121 Flood Insurance Policies...................51 Section 3.13 3.10 Presentment of Claims and Collection of Proceeds.......121.........................51 Section 3.11 Maintenance of the Primary Mortgage Insurance Policies...................52 Section 3.12 Trustee to Retain Possession of Certain Insurance Policies and Documents................................................................52 Section 3.13 Realization Upon Defaulted Mortgage Loans................................52 Section 3.14 Compensation for the Servicer............................................53 Section 3.15 REO Property.............................................................53 Section 3.16 Annual Officer's Certificate as to Compliance............................54 Section 3.17 Annual Independent Accountant's Servicing Report.........................54 Section 3.18 Reports Filed with Securities and Exchange Commission....................55 Section 3.19 UCC......................................................................55 Section 3.20 Optional Purchase of Defaulted Mortgage Loans............................56 ARTICLE IV ACCOUNTS