Common use of REMIC Compliance Clause in Contracts

REMIC Compliance. 50 Section 4.18 Management of REO Property............................................................ 55 Section 4.19 Reports to the Securities and Exchange Commission..................................... 57 Section 4.20 Annual Statement as to Compliance..................................................... 57 Section 4.21 Annual Independent Public Accountants' Servicing Report............................... 57 Section 4.22 Retitling of Land Home Contracts...................................................... 57 Section 4.23 Notice of Rating Change............................................................... 58 ARTICLE V PAYMENTS, MONTHLY ADVANCES AND MONTHLY REPORTS........................................... 58 Section 5.01 Monthly Advances by the Servicer...................................................... 58 Section 5.02 Payments.............................................................................. 59 Section 5.03 Permitted Withdrawals from the Certificate Account.................................... 62 Section 5.04 Monthly Reports....................................................................... 63 Section 5.05 Certificate of Servicing Officer...................................................... 66 Section 5.06 Other Data............................................................................ 66 Section 5.07 Statements to Certificateholders...................................................... 66 Section 5.08 Certificate Insurance Policy; Enhancement Payments.................................... 67 Section 5.09 Reserve Account....................................................................... 68 Section 5.10 LOC; Draw Amounts; Spread Account..................................................... 68

REMIC Compliance. 50 45 Section 4.18 Management of REO Property............................................................ 55 ......................... 50 Section 4.19 Reports to the Securities and Exchange Commission..................................... 57 .. 51 Section 4.20 Annual Statement as to Compliance..................................................... 57 .................. 52 Section 4.21 Annual Independent Public Accountants' Servicing Report............................... 57 ............................................ 52 Section 4.22 Retitling of Land Home Contracts...................................................... 57 ................... 52 Section 4.23 Notice of Rating Change............................................................... 58 ............................ 53 ARTICLE V PAYMENTS, MONTHLY ADVANCES AND MONTHLY REPORTS........................................... 58 .............. 53 Section 5.01 Monthly Advances by the Servicer...................................................... 58 ................... 53 Section 5.02 Payments.............................................................................. 59 ........................................... 54 Section 5.03 Permitted Withdrawals from the Certificate Account.................................... 62 . 56 Section 5.04 Monthly Reports....................................................................... 63 .................................... 57 Section 5.05 Certificate of Servicing Officer...................................................... 66 ................... 59 Section 5.06 Other Data............................................................................ 66 ......................................... 59 Section 5.07 Statements to Certificateholders...................................................... 66 ................... 59 Section 5.08 Certificate Insurance Policy; Enhancement Payments.................................... 67 . 60 ARTICLE VI THE CERTIFICATES........................................... 61 Section 5.09 Reserve Account....................................................................... 68 6.01 The Certificates................................... 61 Section 5.10 LOC6.02 Certificate Register; Draw Amounts; Spread Account..................................................... 68Registration of Transfer and Exchange of Certificates.......................... 62 Section 6.03 Mutilated, Destroyed, Lost or Stolen Certificates.. 65

REMIC Compliance. 50 51 Section 4.18 Management of REO Property............................................................ ........................................ 55 Section 4.19 Reports to the Securities and Exchange Commission..................................... ................. 57 Section 4.20 Annual Statement as to Compliance..................................................... ................................. 57 Section 4.21 Annual Independent Public Accountants' Servicing Report............................... ........... 57 Section 4.22 Retitling of Land Home Contracts...................................................... 57 Section 4.23 Notice of Rating Change............................................................... .................................. 58 ARTICLE V PAYMENTS, MONTHLY ADVANCES AND MONTHLY REPORTS........................................... ......................... 58 Section 5.01 Monthly Advances by the Servicer...................................................... .................................. 58 Section 5.02 Payments.............................................................................. .......................................................... 59 Section 5.03 Permitted Withdrawals from the Certificate Account.................................... ................ 62 Section 5.04 Monthly Reports....................................................................... ................................................... 63 Section 5.05 Certificate of Servicing Officer...................................................... 66 .................................. 68 Section 5.06 Other Data............................................................................ 66 ........................................................ 68 Section 5.07 Statements to Certificateholders...................................................... 66 .................................. 68 Section 5.08 Certificate Insurance Policy; Enhancement Payments.................................... 67 Section 5.09 Reserve Account....................................................................... 68 ................................................... 73 ARTICLE VI THE CERTIFICATES....................................................... 74 Section 5.10 LOC6.01 The Certificates.................................................. 74 Section 6.02 Certificate Register; Draw Amounts; Spread Account..................................................... 68Registration of Transfer and Exchange of Certificates............................................... 75 Section 6.03 Mutilated, Destroyed, Lost or Stolen Certificates................. 79 Section 6.04 Persons Deemed Owner.............................................. 80 Section 6.05 Access to List of Certificateholders' Names and Addresses.............................................................. 80 -ii- TABLE OF CONTENTS (CONTINUED) PAGE Section 6.06 Global Certificates............................................... 80 Section 6.07 Notices to Depository............................................. 81

REMIC Compliance. 50 Section 4.18 54 SECTION 4.18. Management of REO Property............................................................ 55 Section 4.19 ...................................................57 SECTION 4.19. Reports to the Securities and Exchange Commission..................................... 57 Section 4.20 ............................59 SECTION 4.20. Annual Statement as to Compliance..................................................... 57 Section 4.21 ............................................59 SECTION 4.21. Annual Independent Public Accountants' Servicing Report............................... 57 Section ......................59 SECTION 4.22 Retitling of Land Home Contracts...................................................... 57 Section 4.23 Notice of Rating Change............................................................... 58 .............................................60 ARTICLE V PAYMENTS, MONTHLY ADVANCES AND MONTHLY REPORTS........................................... 58 Section 5.01 ..............................61 SECTION 5.01. Monthly Advances by the Servicer...................................................... 58 Section 5.02 .............................................61 SECTION 5.02. Payments.............................................................................. 59 Section 5.03 .....................................................................61 SECTION 5.03. Permitted Withdrawals from the Certificate Account.................................... 62 Section 5.04 ...........................66 SECTION 5.04. Monthly Reports....................................................................... 63 Section 5.05 ..............................................................67 SECTION 5.05. Certificate of Servicing Officer...................................................... 66 Section 5.06 .............................................72 SECTION 5.06. Other Data............................................................................ 66 Section 5.07 ...................................................................73 SECTION 5.07. Statements to Certificateholders...................................................... 66 Section 5.08 Certificate Insurance Policy; Enhancement Payments.................................... 67 Section 5.09 .............................................73 SECTION 5.08. Reserve Account....................................................................... 68 Section 5.10 LOC..............................................................79 ARTICLE VI THE CERTIFICATES.............................................................80 SECTION 6.01. The Certificates.............................................................80 SECTION 6.02. Certificate Register; Draw Amounts; Spread Account..................................................... 68Registration of Transfer and Exchange of Certificates..81 SECTION 6.03. Mutilated, Destroyed, Lost or Stolen Certificates............................85 SECTION 6.04. Persons Deemed Owners........................................................85 SECTION 6.05. Access to List of Certificateholders' Names and Addresses....................85 SECTION 6.06. Global Certificates..........................................................86 SECTION 6.07. Notices to Depository........................................................87 SECTION 6.08. Definitive Certificates......................................................87

REMIC Compliance. 50 49 Section 4.18 Management of REO Property............................................................ 55 ........................................................................ 54 Section 4.19 Reports to the Securities and Exchange Commission..................................... 57 ................................................. 55 Section 4.20 Annual Statement as to Compliance..................................................... 57 ................................................................. 55 Section 4.21 Annual Independent Public Accountants' Servicing Report............................... 57 ........................................... 56 Section 4.22 Retitling Recording of Land Home Contracts...................................................... 57 Assignments of Mortgage.............................................................. 56 Section 4.23 Notice of Rating Change............................................................... 58 ........................................................................... 57 ARTICLE V PAYMENTS, MONTHLY ADVANCES AND MONTHLY REPORTS........................................... 58 .......................................................... 57 Section 5.01 Monthly Advances by the Servicer...................................................... 58 .................................................................. 57 Section 5.02 Payments.............................................................................. 59 .......................................................................................... 58 Section 5.03 Permitted Withdrawals from the Certificate Account.................................... 62 ................................................ 60 Section 5.04 Monthly Reports....................................................................... 63 ................................................................................... 62 Section 5.05 Certificate of Servicing Officer...................................................... 66 .................................................................. 64 Section 5.06 Other Data............................................................................ 66 ........................................................................................ 64 Section 5.07 Statements to Certificateholders...................................................... 66 .................................................................. 64 Section 5.08 Certificate Insurance Policy; Enhancement Payments.................................... 67 Preference Claims; Surrender of Policy.............................. 66 Section 5.09 Reserve Account....................................................................... ,.................................................................................. 68 Section 5.10 LOCSwap; Draw Swap Amounts; Spread Account..................................................... ................................................................................ 68 Section 5.11 Hedge Agreement................................................................................... 68