SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 3 Section 2.1 Sale of Mortgage Loans............................................3 Section 2.2 Payment of Purchase Price.........................................5
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1 Sale of Initial Mortgage Loans.
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 3 Section 2.1 Sale of Initial Mortgage Loans..........................................3 Section 2.2 Sale of Subsequent Mortgage Loans.......................................8 Section 2.3 Payment of Purchase Price..............................................11 Section 2.4 Variable Funding Notes on or after the Closing Date....................13 Section 2.5 Draws During Rapid Amortization Period.................................13
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 2 Section 2.01 Sale of Initial Mortgage Loans and MI Policies. 2 Section 2.02 Conveyance of the Subsequent Mortgage Loans. 5 Section 2.03 Pre-Funding Account. 9 Section 2.04 Interest Coverage Account 9 ARTICLE III REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH 10 Section 3.01 Seller Representations and Warranties. 10 Section 3.02 Company Representations and Warranties. 27 ARTICLE IV SELLER’S COVENANTS 28 Section 4.01 Covenants of the Seller. 28 Section 4.02 Payment of Expenses. 28 ARTICLE V CONDITIONS TO INITIAL MORTGAGE LOAN PURCHASE 29 Section 5.01 Conditions of Company’s Obligations. 29 ARTICLE VI INDEMNIFICATION BY THE SELLER WITH RESPECT TO THE MORTGAGE LOANS 30 Section 6.01 Indemnification With Respect to the Mortgage Loans. 30 Section 6.02 Limitation on Liability of the Seller. 30 ARTICLE VII TERMINATION 30 Section 7.01 Termination. 30 ARTICLE VIII MISCELLANEOUS PROVISIONS 32 Section 8.01 Amendment. 32 Section 8.02 Governing Law. 32 Section 8.03 Notices. 32 Section 8.04 Severability of Provisions. 33 Section 8.05 Relationship of Parties. 33 Section 8.06 Counterparts. 34 Section 8.07 Further Agreements. 34 Section 8.08 Intention of the Parties. 34 Section 8.09 Successors and Assigns; Assignment of Purchase Agreement. 35 Section 8.10 Survival. 35 Section 8.11 Liability of the Trustee. 35 EXHIBIT 1 Initial Mortgage Loan Schedule EXHIBIT 2(A) Seller’s Subsequent Transfer Instrument EXHIBIT 2(B) Company’s Subsequent Transfer Instrument THIS MORTGAGE LOAN PURCHASE AGREEMENT (this “Purchase Agreement”), dated as of December 1, 2005, is made among NovaStar Mortgage, Inc. (the “Seller”), NovaStar Mortgage Funding Corporation (the “Company”), Wachovia Bank, National Association (the “Custodian”) and JPMorgan Chase Bank, National Association (the “Trustee”).
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. 2 Section 2.01 Sale of Closing Date Mortgage Loans and MI Policies. ................................. 2 Section 2.02 Conveyance of the Subsequent Mortgage Loans Section 2.03 Pre-Funding Account
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1 Sale of Mortgage Loans 2 Section 2.2 Payment of Purchase Price for the Mortgage Loans 5 ARTICLE III
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. ...2 Section 2.01 Sale of Initial Mortgage Loans, MI Policies and Cap Agreements................................2 Section 2.02 Conveyance of the Subsequent Mortgage Loans...................................................5 Section 2.03 Pre-Funding Account...........................................................................9 Section 2.04
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1 Sale of Mortgage Loans. Section 2.2 Agreement to Purchase.
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.1.
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS. Section 2.01 Sale of Initial Mortgage Loans, MI Policies and Cap Agreements.
