Common use of Power to Act; Procedures Clause in Contracts

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY........................................................................

Power to Act; Procedures. 49 48 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ...................................49 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 ....................................................49 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ............................................................................50 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 .......................51 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 .............................51 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 .......................51 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ......................................................................................52 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ....................................52 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 .........................................52 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 EMC..........................................................................55 Section 3.20 UCC..........................................................................55

Power to Act; Procedures. 49 67 Section 3.06 3.6 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..................................................68 Section 3.07 3.7 RELEASE OF MORTGAGE FILES.............................................................50 ...................................................................69 Section 3.08 3.8 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ........69 Section 3.09 3.9 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ......................................70 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ............................................71 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ......................................71 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ....................71 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ............................................................72 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ........................................................72 Section 3.15 REO PROPERTY........................................................................................................................................................72 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE...............................................73 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT............................................74

Power to Act; Procedures. 49 41 Section 3.06 DUE-ON-SALE TERMINATION OF SERVICING AGREEMENTS; SUCCESSOR SERVICERS..............................42 Section 3.07 "DUE ON SALE" CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..........................................42 Section 3.07 3.08 RELEASE OF MORTGAGE FILES.............................................................50 42 Section 3.08 3.09 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 44 Section 3.09 3.10 [RESERVED]............................................................................44 Section 3.11 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ..........................................44 Section 3.10 3.12 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 45 Section 3.11 3.13 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES AND THE CMAC PMI POLICIES................................52 ..........................................................................45 Section 3.12 3.14 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 46 Section 3.13 3.15 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY........................................................................46

Power to Act; Procedures. 49 14 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 15 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 15 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR ISSUER AND INDENTURE TRUSTEE...........................................................................51 ..............................................16 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 17 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 17 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 17 Section 3.12 INDENTURE TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .........................................................................18 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 18 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 19 Section 3.15 REO PROPERTY........................................................................3.15

Power to Act; Procedures. 49 40 Section 3.06 DUETERMINATION OF SUB-ONSERVICING AGREEMENTS; SUCCESSOR SUB-SALE SERVICERS......................41 Section 3.07 "DUE ON SALE" CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..........................................41 Section 3.07 3.08 RELEASE OF MORTGAGE FILES.............................................................50 42 Section 3.08 3.09 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ......................................................................................................44 Section 3.09 3.10 [RESERVED]............................................................................44 Section 3.11 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ..........................................44 Section 3.10 3.12 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 46 Section 3.11 3.13 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 46 Section 3.12 3.14 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................47 Section 3.13 3.15 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 47 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY........................................................................3.16

Power to Act; Procedures. 49 48 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 49 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 49 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ..........................................................................................................50 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 51 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 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..............53 52 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER 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 EMC...................................................................................55 Section 3.20 UCC...................................................................................56 Section 3.21 OPTIONAL PURCHASE OF DEFAULTED MORTGAGE LOANS.........................................56

Power to Act; Procedures. 49 55 Section 3.06 3.6 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ..................................................56 Section 3.07 3.7 RELEASE OF MORTGAGE FILES.............................................................50 ...................................................................57 Section 3.08 3.8 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ........57 Section 3.09 3.9 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ......................................58 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ............................................59 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ......................................59 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ....................60 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ............................................................60 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ........................................................60 Section 3.15 REO PROPERTY........................................................................................................................................................60 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE...............................................61

Power to Act; Procedures. 49 57 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 58 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 58 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................59 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 60 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 60 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 61 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................61 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 62 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 62 Section 3.15 REO PROPERTY..................................................................................................................................................62 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................63 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................63 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................64 Section 3.19

Power to Act; Procedures. 49 37 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ....................................38 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 .....................................................38 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ........................................39 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ........................40 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ..............................40 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ........................40 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ........................................................41 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 .....................................41 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ..........................................41 Section 3.15 REO PROPERTY..........................................................................................................................................42 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.................................42 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT..............................43 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.........................43 Section 3.19 EMC...........................................................................44 Section 3.20 UCC...........................................................................44

Power to Act; Procedures. 49 73 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 74 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 74 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................75 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 76 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 76 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 77 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................77 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 78 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 78 Section 3.15 REO PROPERTY..................................................................................................................................................78 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................79 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................79 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................80 Section 3.19

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE.....................................................................................................................................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY........................................................................

Power to Act; Procedures. 49 14 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 14 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 15 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR ISSUER AND INDENTURE TRUSTEE...........................................................................51 ...........................................15 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 16 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 17 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 17 Section 3.12 INDENTURE TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .........................................................................17 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 18 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 18 Section 3.15 REO PROPERTY..................................................................................................................................................18 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................19 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................19 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................20 Section 3.19

Power to Act; Procedures. 49 57 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ....................58 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 .....................................58 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 .....................59 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 ............................................60 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 ..............60 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 ............................................61 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ..............................61 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 .....................62 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 ..........................62 Section 3.15 REO PROPERTY..........................................................................................................................62 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.................63 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT..............................................63 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION...........................................64 Section 3.19

Power to Act; Procedures. 49 40 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 ...................................41 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 ....................................................41 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ............................................................................42 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 .......................43 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 .............................43 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 .......................43 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 ......................................................................................44 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 ....................................44 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 .........................................44 Section 3.15 REO PROPERTY.........................................................................................................................................45 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE................................46 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT.............................46 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION........................47 Section 3.19 EMC..........................................................................47 Section 3.20 UCC..........................................................................47

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 53 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS...........................................................................................53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 54 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 54 Section 3.15 REO PROPERTY........................................................................

Power to Act; Procedures. 49 45 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 46 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 46 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ......................................................................................................47 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 47 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 48 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 48 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 DOCUMENTS ..................................................................................................................49 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 49 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 49 Section 3.15 REO PROPERTY..................................................................................................................................................49 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................50 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................51 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................51 Section 3.19

Power to Act; Procedures. 49 47 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 48 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 48 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................49 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 50 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 50 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 50 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................51 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 51 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 51 Section 3.15 REO PROPERTY..................................................................................................................................................52 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................52 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................53 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................53 Section 3.19

Power to Act; Procedures. 49 43 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 44 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 44 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ...................................................................45 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 46 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 46 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 47 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................47 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 48 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 48 Section 3.15 REO PROPERTY..................................................................................................................................................49 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................49 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................50 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................50 Section 3.19

Power to Act; Procedures. 49 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE..........................................................................................................................................................51 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 Section 3.15 REO PROPERTY........................................................................

Power to Act; Procedures. 49 55 Section 3.06 DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS............................................50 56 Section 3.07 RELEASE OF MORTGAGE FILES.............................................................50 56 Section 3.08 DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR TRUSTEE...........................................................................51 ................................................................57 Section 3.09 STANDARD HAZARD INSURANCE AND FLOOD INSURANCE POLICIES................................52 57 Section 3.10 PRESENTMENT OF CLAIMS AND COLLECTION OF PROCEEDS......................................52 58 Section 3.11 MAINTENANCE OF THE PRIMARY MORTGAGE INSURANCE POLICIES................................52 58 Section 3.12 TRUSTEE TO RETAIN POSSESSION OF CERTAIN INSURANCE POLICIES AND DOCUMENTS..............53 .............................................................................59 Section 3.13 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................53 59 Section 3.14 COMPENSATION FOR THE MASTER SERVICER..................................................53 59 Section 3.15 REO PROPERTY..................................................................................................................................................60 Section 3.16 ANNUAL OFFICER'S CERTIFICATE AS TO COMPLIANCE.........................................60 Section 3.17 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT......................................61 Section 3.18 REPORTS FILED WITH SECURITIES AND EXCHANGE COMMISSION.................................61 Section 3.19