Common use of Release of Mortgage Files Clause in Contracts

Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer will promptly notify the Custodian by delivering a Request for Release substantially in the form of Exhibit A. The Servicer is authorized to cause the removal from the registration on the MERS System of any such Mortgage if applicable, and the Servicer, on behalf of the Trustee shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Section 1.860G-(1)(b)(3)(ii). Subject to the further limitations set forth below, the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee or its designee when the need therefor by the Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection Account. Each Request for Release may be delivered to the Trustee or the Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such other means, including, without limitation, electronic or computer readable medium, as the Servicer and the Trustee or the Custodian shall mutually agree. On each day that the Servicer remits to the Master Servicer or the Custodian Requests for Releases pursuant to clauses (ii) or (iii) above, the Servicer shall also submit to the Master Servicer or the Custodian a summary of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this Agreement, the Servicer may deliver or cause to be delivered to the Trustee or the Custodian, for signature, as appropriate or on behalf of the Trustee, execute any court pleadings, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoing, the Servicer shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee or the Custodian to be returned to the Trustee or the Custodian promptly after possession thereof shall have been released by the Trustee or the Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account, and the Servicer shall have delivered to the Trustee or the Custodian a Request for Release in the form of Exhibit A or (ii) the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer shall have delivered to the Trustee or the Custodian an Officer's Certificate of a Servicing Officer certifying as to the name and address of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Servicer shall have no liability for and shall be excused from its performance hereunder to the extent its non-performance is caused by the failure of the Custodian under the Custodial Agreement or the Trustee to release or execute the documents as requested by the Servicer pursuant to a Request for Release or a request for the execution of the documents.

Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer will promptly notify the Custodian by delivering a Request for Release substantially in the form of Exhibit A. The Servicer is authorized to cause the removal from the registration on the MERS System of any such Mortgage if applicable, and the Servicer, on behalf of the Trustee Master Servicer shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Section 1.860G-(1)(b)(3)(ii). Subject to the further limitations set forth below, the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee Master Servicer or its designee when the need therefor by the Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection Account. Each Request for Release may be delivered to the Trustee Master Servicer or the its Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such other means, including, without limitation, electronic or computer readable medium, as the Servicer and the Trustee Master Servicer or the its Custodian shall mutually agree. On each day that the Servicer remits to the Master Servicer Securities Administrator or the its Custodian Requests for Releases pursuant to clauses (ii) or (iii) above, the Servicer shall also submit to the Master Servicer or the its Custodian a summary of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this Agreement, the Servicer may deliver or cause to be delivered to the Trustee Master Servicer or the its Custodian, for signature, as appropriate or on behalf of the TrusteeMaster Servicer, execute any court pleadings, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoing, the Servicer shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee Master Servicer or the its Custodian to be returned to the Trustee Master Servicer or the its Custodian promptly after possession thereof shall have been released by the Trustee Master Servicer or the its Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account, and the Servicer shall have delivered to the Trustee Master Servicer or the its Custodian a Request for Release in the form of Exhibit A or (ii) the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer shall have delivered to the Trustee Master Servicer or the its Custodian an Officer's Certificate of a Servicing Officer certifying as to the name and address of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Servicer shall have no liability for and shall be excused from its performance hereunder to the extent its non-performance is caused by the failure of the Custodian under the Custodial Agreement or the Trustee Master Servicer to release or execute the documents as requested by the Servicer pursuant to a Request for Release or a request for the execution of the documentsServicer.

Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release. (b) Upon the purchase or repurchase of any Mortgage LoanLoan or the substitution of any Mortgage Loan pursuant to the FRB MLSA, the PHH MLSA, or the Pooling and Servicing Agreement and within two Business Days of its receipt by the Servicer of a notification that payment Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in full will be escrowed the Request for Release, or (ii) notify the requesting party in writing or in a manner customary mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for such purposesRelease. (c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Servicer Custodian will promptly either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release. (d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian by delivering is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of Exhibit A. The Servicer is authorized to cause the removal payoff amount for such sale and notice thereof from the registration on Securities Administrator, the MERS System Trustee will provide the Custodian written notification of any its release of interest in such Mortgage if applicable, and the Servicer, on behalf of the Trustee shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer in connection with Loans; (e) Any Certification issued while any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Section 1.860G-(1)(b)(3)(ii). Subject to the further limitations set forth below, the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee or its designee when the need therefor is held by the Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection Account. Each Request for Release may be delivered to the Trustee or the Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such a party other means, including, without limitation, electronic or computer readable medium, as the Servicer and the Trustee or than the Custodian shall mutually agree. On each day reflect that the Servicer remits Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian Requests for Releases pursuant to clauses (ii) or (iii) abovethat a Mortgage Loan has been liquidated, the Servicer Custodian shall also submit to thereupon reflect any such liquidation on its Mortgage Loan Schedule. (f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer or Servicer, in the event the Custodian receives a summary Request for Release within five (5) days of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this AgreementDelivery Date, the Servicer may Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver or cause to be delivered to the Trustee or the Custodian, for signature, as appropriate or certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, execute any court pleadingsthe Depositor, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note FRB, as a Servicer, PHH, as a Servicer, or the Mortgage or Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-0, Xxxxxxx X-0, Xxxxxxx X-0X, Exhibit D-3B and Exhibit D-3C hereof, respectively (each person so authorized from time to obtain a deficiency judgment or time, an “Authorized Representative”). From time to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoingtime, the Trustee, the Depositor, the Seller, the Master Servicer shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee or the Custodian a Servicer may deliver to be returned to the Trustee or the Custodian promptly after possession thereof shall have been released by the Trustee or the Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account, and the Servicer shall have delivered to the Trustee or the Custodian a Request for Release certification in the form of Exhibit A or (ii) C hereof, reflecting changes in the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes respective list of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer shall have delivered to the Trustee or Authorized Representatives, but the Custodian an Officer's Certificate shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a Servicing Officer certifying as to superseding certification in the name and address form of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Servicer shall have no liability for and shall be excused from its performance hereunder to the extent its non-performance is caused by the failure of the Custodian under the Custodial Agreement or the Trustee to release or execute the documents as requested by the Servicer pursuant to a Request for Release or a request for the execution of the documentsExhibit C hereof.

Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer will promptly notify the Custodian by delivering a Request for Release substantially in the form of Exhibit A. The Servicer is authorized to cause the removal from the registration on the MERS System of any such Mortgage if applicable, and the Servicer, on behalf of the Trustee shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Section 1.860G-(1)(b)(3)(ii). Subject to the further limitations set forth below, the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee or its designee when the need therefor by the Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection Account. Each Request for Release may be delivered to the Trustee or the Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such other means, including, without limitation, electronic or computer readable medium, as the Servicer and the Trustee or the Custodian shall mutually agree. On each day that the Servicer remits to the Master Servicer or the Custodian Requests for Releases pursuant to clauses (ii) or (iii) above, the Servicer shall also submit to the Master Servicer or the Custodian a summary of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this Agreement, the Servicer may deliver or cause to be delivered to the Trustee or the Custodian, for signature, as appropriate or on behalf of the Trustee, execute any court pleadings, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoing, the Servicer shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee or the Custodian to be returned to the Trustee or the Custodian promptly after possession thereof shall have been released by the Trustee or the Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account, and the Servicer shall have delivered to the Trustee or the Custodian a Request for Release in the form of Exhibit A or (ii) the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer shall have delivered to the Trustee or the Custodian an Officer's Certificate of a Servicing Officer certifying as to the name and address of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Servicer shall have no liability for and shall be excused from its performance hereunder to the extent its non-performance is directly caused by the failure of the Custodian under the Custodial Agreement or the Trustee to release or execute the documents as requested by the Servicer pursuant to a Request for Release or a request for the execution of the documents.

Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer will promptly notify the Custodian by delivering a Request for Release substantially in the form of Exhibit A. D. The Servicer is Servicers are authorized to cause the removal from the registration on the MERS System of any such Mortgage if applicable, and the Servicer, on behalf of the Trustee shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer Servicers in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Section 1.860G-(1)(b)(3)(ii). Subject to the further limitations set forth below, the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee or its designee when the need therefor by the Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection applicable Protected Account. Each Request for Release may be delivered to the Trustee or the Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such other means, including, without limitation, electronic or computer readable medium, as the Servicer and the Trustee or the Custodian shall mutually agree. On each day that the Servicer remits to the Master Servicer or the Custodian Requests for Releases pursuant to clauses (ii) or (iii) above, the Servicer shall also submit to the Master Servicer or the Custodian a summary of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this Agreement, the Servicer may deliver or cause to be delivered to the Trustee or the Custodian, for signature, as appropriate or on behalf of the Trustee, execute any court pleadings, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoing, the Servicer shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee or the Custodian to be returned to the Trustee or the Custodian promptly after possession thereof shall have been released by the Trustee or the Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection applicable Protected Account, and the Servicer shall have delivered to the Trustee or the Custodian a Request for Release in the form of Exhibit A D or (ii) the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer shall have delivered to the Trustee or the Custodian an Officer's Certificate of a Servicing Officer certifying as to the name and address of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Each Servicer shall have no liability for for, and shall be excused from its performance hereunder thereunder to the extent its non-performance is caused by the failure of the Custodian under the Custodial Agreement or the Trustee to release or execute the documents as requested by the Servicer pursuant to a Request for Release or a request for the execution of the documentsServicer.

Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer will promptly notify the Custodian Trustee or its designee by delivering a Request for Release substantially in the form of Exhibit A. The I. Upon receipt of a copy of such request, the Trustee shall promptly release the related Mortgage File to the Servicer, the cost of which may be charged to the Servicer by the Trustee, and the Servicer is authorized to cause the removal from the registration on the MERS System of any such Mortgage if applicable, and the Servicer, on behalf of the Trustee Trustee, shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity Trust Fund to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Section 1.860G-(1)(b)(3)(ii). From time to time and as shall be appropriate for the servicing or foreclosure of any Mortgage Loan, including for collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee shall, upon delivery to it of a Request for Release in the form of Exhibit I signed by a Servicing Officer, release the Mortgage File to the Servicer, the cost of which action may be charged to the Servicer by the Trustee. Subject to the further limitations set forth below, the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee or its designee when the need therefor by the Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection Account. Each Request for Release may be delivered to the Trustee or the Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such other means, including, without limitation, electronic or computer readable medium, as the Servicer and the Trustee or the Custodian shall mutually agree. The Trustee shall make reasonable efforts to release the related Mortgage File(s) within three (3) Business Days, but in no event shall the Trustee release such Mortgage File(s) later than five (5) Business Days, of receipt of a properly completed Request for Release pursuant to clauses (i), (ii) or (iii) above. Receipt of a properly completed Request for Release shall be authorization to the Trustee to release such Mortgage Files, provided the Trustee has determined that such Request for Release has been executed, with respect to clauses (i) or (ii) above, or approved, with respect to clause (iii) above, by an authorized Servicing Officer of the Servicer, and so long as the Trustee complies with its duties and obligations under this Agreement. If the Trustee is unable to release the Mortgage Files within the period previously specified, the Trustee shall immediately notify the Servicer indicating the reason for such delay. The Servicer shall not pay penalties or damages due to the Trustee's or its designee's negligent failure to release the related Mortgage File or the Trustee's or its designee's negligent failure to execute and release documents in a timely manner, and such amounts shall be Servicer Advances. On each day that the Servicer remits to the Master Servicer or the Custodian Trustee Requests for Releases pursuant to clauses (ii) or (iii) above, the Servicer shall also submit to the Master Servicer or the Custodian Trustee a summary of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this Agreement, the Servicer may deliver or cause to be delivered to the Trustee or the Custodianits designee, for signature, as appropriate or on behalf of the Trustee, execute any court pleadings, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoing, the Servicer shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee or the Custodian to be returned to the Trustee or the Custodian promptly after possession thereof shall have been released by the Trustee or the Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account, and the Servicer shall have delivered to the Trustee or the Custodian a Request for Release in the form of Exhibit A I or (ii) the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer shall have delivered to the Trustee or the Custodian an Officer's Certificate of a Servicing Officer certifying as to the name and address of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Servicer shall have no liability for and shall be excused from its performance hereunder to the extent its non-performance is caused by the failure of the Custodian under the Custodial Agreement or the Trustee to release or execute the documents as requested by the Servicer pursuant to a Request for Release or a request for the execution of the documents.

Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Wilshire of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer Wilshire will promptly notify the Custodian by delivering a Request for Release substantially in the form of Exhibit A. The Servicer D. Wilshire is authorized to cause the removal from the registration on the MERS System of any such Mortgage if applicable, and the ServicerWilshire, on behalf of the Trustee shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer Wilshire in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Section 1.860G-(1)(b)(3)(ii). Subject to the further limitations set forth below, the Servicer Wilshire shall cause the Mortgage File or documents so released to be returned to the Trustee or its designee when the need therefor by the Servicer Wilshire no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the applicable Collection Account. Each Request for Release may be delivered to the Trustee or the Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such other means, including, without limitation, electronic or computer readable medium, as the Servicer Wilshire and the Trustee or the Custodian shall mutually agree. On each day that the Servicer remits to the Master Servicer or the Custodian Requests for Releases pursuant to clauses (ii) or (iii) above, the Servicer shall also submit to the Master Servicer or the Custodian a summary of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer Wilshire at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this Agreement, the Servicer Wilshire may deliver or cause to be delivered to the Trustee or the Custodian, for signature, as appropriate or on behalf of the Trustee, execute any court pleadings, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoing, the Servicer Wilshire shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee or the Custodian to be returned to the Trustee or the Custodian promptly after possession thereof shall have been released by the Trustee or the Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the applicable Collection Account, and the Servicer Wilshire shall have delivered to the Trustee or the Custodian a Request for Release in the form of Exhibit A D or (ii) the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer Wilshire shall have delivered to the Trustee or the Custodian an Officer's Certificate of a Servicing Officer certifying as to the name and address of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Servicer Wilshire shall have no liability for for, and shall be excused from its from, any non-performance hereunder to the extent its such non-performance is solely and directly caused by the failure of (i) the Custodian under to release, in a manner consistent with the terms of the Custodial Agreement Agreement, any Mortgage File requested by Wilshire pursuant to a Request for Release (ii) or the Trustee to release or execute the documents as requested by the Servicer Wilshire pursuant to a Request for Release or a request for the execution of documents; provided, that any such Request for Release or request for the execution of documents must specify the Mortgage File so requested for release in sufficient detail, and with sufficient accuracy, to allow the Custodian timely to perform its obligations under the Custodial Agreement in connection with such Request for Release or request for the execution of documents. The Custodian shall have no liability for any costs incurred by Wilshire resulting from any failure of the Custodian, in connection with any Request for Release or request for the execution of documents, to deliver any Mortgage File in a manner consistent with the terms of the Custodial Agreement to the extent such failure is solely and directly the result of insufficient detail or insufficient accuracy in such Request for Release or request for the execution of documents.

Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer will promptly notify the Custodian Trustee or its designee by delivering a Request for Release substantially in the form of Exhibit A. The I. Upon receipt of a copy of such request, the Trustee shall promptly release the related Mortgage File to the Servicer, the cost of which may be charged to the Servicer by the Trustee, and the Servicer is authorized to cause the removal from the registration on the MERS System of any such Mortgage if applicable, and the Servicer, on behalf of the Trustee Trustee, shall execute and deliver the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage together with the Mortgage Note with written evidence of cancellation thereon. Expenses incurred by the Servicer in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Mortgagor to the extent permitted by law, and otherwise to the Issuing Entity Trust Fund to the extent such expenses constitute "unanticipated expenses" within the meaning of Treasury Regulations Regulations Section 1.860G-(1)(b)(3)(ii1. 860G-(1)(b)(3)(ii). From time to time and as shall be appropriate for the servicing or foreclosure of any Mortgage Loan, including for collection under any policy of flood insurance, any fidelity bond or errors or omissions policy, or for the purposes of effecting a partial release of any Mortgaged Property from the lien of the Mortgage or the making of any corrections to the Mortgage Note or the Mortgage or any of the other documents included in the Mortgage File, the Trustee shall, upon delivery to it of a Request for Release in the form of Exhibit I signed by a Servicing Officer, release the Mortgage File to the Servicer, the cost of which action may be charged to the Servicer by the Trustee. Subject to the further limitations set forth below, the Servicer shall cause the Mortgage File or documents so released to be returned to the Trustee or its designee when the need therefor by the Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection Account. Each Request for Release may be delivered to the Trustee or the Custodian (i) via mail or courier, (ii) via facsimile or (iii) by such other means, including, without limitation, electronic or computer readable medium, as the Servicer and the Trustee or the Custodian shall mutually agree. The Trustee shall release the related Mortgage File(s) within five (5) Business Days of receipt of a properly completed Request for Release pursuant to clauses (i), (ii) or (iii) above. Receipt of a properly completed Request for Release shall be authorization to the Trustee to release such Mortgage Files, provided the Trustee has determined that such Request for Release has been executed, with respect to clauses (i) or (ii) above, or approved, with respect to clause (iii) above, by an authorized Servicing Officer of the Servicer, and so long as the Trustee complies with its duties and obligations under this Agreement. If the Trustee is unable to release the Mortgage Files within the period previously specified, the Trustee shall immediately notify the Servicer indicating the reason for such delay. The Servicer shall not pay penalties or damages due to the Trustee's or its designee's negligent failure to release the related Mortgage File or the Trustee's or its designee's negligent failure to execute and release documents in a timely manner, and such amounts shall be Servicer Advances. On each day that the Servicer remits to the Master Servicer or the Custodian Trustee Requests for Releases pursuant to clauses (ii) or (iii) above, the Servicer shall also submit to the Master Servicer or the Custodian Trustee a summary of the total number of such Requests for Releases requested on such day by the same method as described in such clauses (ii) and (iii). If the Servicer at any time seeks to initiate a foreclosure proceeding in respect of any Mortgaged Property as authorized by this Agreement, the Servicer may deliver or cause to be delivered to the Trustee or the Custodianits designee, for signature, as appropriate or on behalf of the Trustee, execute any court pleadings, requests for trustee's sale or other documents necessary to effectuate such foreclosure or any legal action brought to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce any other remedies or rights provided by the Mortgage Note or the Mortgage or otherwise available at law or in equity. Notwithstanding the foregoing, the Servicer shall cause possession of any Mortgage File or of the documents therein that shall have been released by the Trustee or the Custodian to be returned to the Trustee or the Custodian promptly after possession thereof shall have been released by the Trustee or the Custodian unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account, and the Servicer shall have delivered to the Trustee or the Custodian a Request for Release in the form of Exhibit A I or (ii) the Mortgage File or document shall have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property and the Servicer shall have delivered to the Trustee or the Custodian an Officer's Certificate of a Servicing Officer certifying as to the name and address of the Person to which the Mortgage File or the documents therein were delivered and the purpose or purposes of such delivery. The Servicer shall have no liability for and shall be excused from its performance hereunder to the extent its non-performance is caused by the failure of the Custodian under the Custodial Agreement or the Trustee to release or execute the documents as requested by the Servicer pursuant to a Request for Release or a request for the execution of the documents.