Common use of Satisfaction of Mortgages and Release of Collateral Files Clause in Contracts

Satisfaction of Mortgages and Release of Collateral Files. (a) 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 (i) shall prepare the appropriate documents and instruments required to satisfy or release the lien of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File to the Servicer. The Owner shall, within five (5) Business Days following its receipt of any such certification and request, send to the Servicer the requested portion of the Collateral File. Upon receipt of such package, the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such satisfaction or release in accordance with applicable state law requirements. In addition, if, with respect to any Mortgage Loan that has been paid in full, the Owner has recorded or caused to be recorded in the appropriate public recording office of the jurisdiction in which the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy or release the lien of the Mortgage. The Owner shall, within five (5) Business Days following its receipt of any such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicer. Upon receipt of such package, the Servicer shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of its obligations under this Section 5.2.

Satisfaction of Mortgages and Release of Collateral Files. (a) 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 (i) shall prepare the appropriate documents and instruments required to satisfy or release the lien of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File to the Servicer. The Owner shall, within five (5) Business Days following its receipt of any such certification and request, send to the Servicer the requested portion of the Collateral File. Upon receipt of such package, the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such satisfaction or release in accordance with applicable state law requirements. In addition, if, with respect to any Mortgage Loan that has been paid in full, the Owner has recorded or caused to be recorded in the appropriate public recording office of the jurisdiction in which the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy or release the lien of the Mortgage. The Owner shall, within five (5) Business Days following its receipt of any such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicer. Upon receipt of such package, the Servicer shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s 's breach of its obligations under this Section 5.2.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer Purchaser after the Monthly Remittance Advice (ias defined in Section 4.02) shall prepare the appropriate documents and instruments required to satisfy or release the lien of the Mortgage has been provided in accordance with applicable state law requirementsSection 4.02 and Countrywide may request the release of any Mortgage Loan documents from the Purchaser in accordance with Section 3.17 hereof. Such notice shall include a statement to the effect that all amounts received or to be received in connection with such payment, (ii) shall promptly which are required to be deposited in the Custodial Account pursuant to Section 3.04 of this Agreement, have been or will be so deposited and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that delivery to it of the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide's request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner With respect to a Mortgage Loan paid in full as set forth in the above paragraph, if the Mortgage has been recorded in the name of MERS or its designee, Countrywide shall take all necessary action to effect the release of the Mortgage Loan on the records of MERS. In the event Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Purchaser, shall promptly remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond and errors and omissions insurance policy as provided for in Section 3.12 insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide's request and request, send delivery to the Servicer Purchaser, or the requested Purchaser's designee, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide's request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser or the Custodian. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide's request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser, its designee, or the Custodian shall, within five (5) Business Days following its receipt of any such certification Countrywide's request and request, send delivery to the Servicer Purchaser, its designee, or the requested Custodian of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser, its designee, or the Custodian. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser, its designee, or the Custodian the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide's request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide’s request and request, send delivery to the Servicer Purchaser, or the requested Purchaser’s designee, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify Purchaser. Such notice shall include a statement to the Servicer (i) shall prepare the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File to the Servicerheld by Purchaser. The Owner shallUpon receipt of such notice and request, Purchaser, or its designee, shall within five (5) Business Days following its receipt of any such certification release or cause to be released to Countrywide the related Collateral Documents and request, send to the Servicer the requested portion of the Collateral File. Upon receipt of such package, the Servicer Countrywide shall prepare and execute process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the documents and instruments necessary to satisfy Custodial Account. In the event Countrywide satisfies or release the lien releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage and or should it otherwise prejudice any right Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall process such satisfaction or release remit to Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in accordance with applicable state law requirementsthe Custodial Account. In addition, if, Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan that has been paid in full, the Owner has recorded or caused to be recorded in the appropriate public recording office of the jurisdiction in which the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy or release the lien of the Mortgage. The Owner shall, within five (5) Business Days following its receipt of any such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicer. Upon receipt of such package, the Servicer shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or not satisfied in accordance with applicable state law requirementsthe procedures set forth herein. The Owner shall assist therewith From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, Purchaser shall, upon request of Countrywide and delivery to Purchaser, or Purchaser’s designee, of a servicing receipt signed by returning a Servicing Officer, release or cause to be released to Countrywide the Servicer the required portion of the Collateral File (andheld by Purchaser or its designee. Pursuant to the servicing receipt, if applicableCountrywide shall be obligated to return to Purchaser the related Collateral File when Countrywide no longer needs such file, unless the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for Mortgage Loan has been liquidated and the Owner shall indemnify Liquidation Proceeds relating to the Servicer against any third party liability for failure Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to release the lien of an attorney, or to a Mortgage public trustee or other public official as required under applicable law to by law, for purposes of initiating or pursuing legal action or other proceedings for the extent foreclosure of the Mortgaged Property either judicially or non-judicially. Upon receipt of notice from Countrywide stating that such failure Mortgage Loan was caused by liquidated and the Owner’s breach of funds have been deposited or will be deposited in the Custodial Account, Purchaser shall release Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 3.04 of this Agreement, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or the Custodian, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser or the Custodian fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide's request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide's request and request, send delivery to the Servicer Custodian of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the requested portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser or the Custodian fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in the appropriate public recording office of the jurisdiction in which released to Countrywide the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy or release the lien of the Mortgage. The Owner shall, Collateral Documents within five (5) Business Days following its receipt of Countrywide's request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 3.04 of this Agreement, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or the Custodian, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser or the Custodian fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide’s request and request, send delivery to the Servicer Custodian of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the requested portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser or the Custodian fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in the appropriate public recording office of the jurisdiction in which released to Countrywide the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy or release the lien of the Mortgage. The Owner shall, Collateral Documents within five (5) Business Days following its receipt of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide’s request and request, send delivery to the Servicer Purchaser, or the requested Purchaser’s designee, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Subservicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Servicer (i) Subservicer shall obtain the portion of the Mortgage File that is in the possession of the Custodian as provided in the next sentence, and prepare the appropriate documents and instruments process any required to satisfy satisfaction or release the lien of the Mortgage in accordance with applicable state law requirements, Applicable Law and Agency Requirements (ii) if applicable). The Subservicer shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File report to the Servicer. The Owner shall, Owner/Servicer on any original Mortgage Note not received within five (5) Business Days following its receipt of any such certification from the Custodian and request, send Owner/Servicer agrees to deliver or cause to be delivered to the Servicer Subservicer the requested portion of the Collateral File. Upon receipt of original Mortgage Note for such package, the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such satisfaction or release in accordance with applicable state law requirements. In addition, if, with respect to any Mortgage Loan that has been paid in full, the Owner has recorded or caused to be recorded in the appropriate public recording office of the jurisdiction in which the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy or release the lien of the Mortgage. The Owner shall, within not later than five (5) Business Days following its receipt the Subservicer’s report to the Owner/Servicer of such missing document. A failure or delay in Custodian’s delivery of any such requestportion of the Mortgage File shall not relieve Subservicer its obligation to process any required satisfactions or releases in accordance with Accepted Servicing Practices, send except to the Servicer extent the fully-executed documents that were prepared and requested by Subservicer is unable to process the Servicer. Upon receipt of such package, the Servicer shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning due to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified Custodian’s failure or delay. Such Mortgage Note shall be held by the Servicer. The Servicer shall not be liable Subservicer, in trust, for the purpose of canceling such Mortgage Note and delivering the Owner shall indemnify canceled Mortgage Note to the Servicer against any third party liability for failure to release the lien of Mortgagor in a Mortgage timely manner as required under applicable law and to the extent that provided under any applicable federal or state law. To the extent the original Mortgage Loan documents are not delivered to the Mortgagor as provided herein, the Subservicer will retain such failure was caused documents, at Owner/Servicer’s expense, for the longer of (i) sixty (60) days after the Mortgage Loan is paid in full, (ii) such longer period as may be mutually agreed by the Owner’s breach of its obligations under this Section 5.2parties, or (iii) as long as is required by Applicable Law.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser or its designee. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.4, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide’s request and request, send delivery to the Servicer Purchaser, or the requested Purchaser’s designee, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) related Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by such Purchaser. Upon receipt of such notice and request, the related Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the related Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request therefor, such Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the related Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to such Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the related Purchaser shall, within five (5) Business Days following its receipt of any such certification and Countrywide’s request, send release or cause to be released to Countrywide the Servicer the requested portion of the Collateral FileFile held by such Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to such Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that such Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Collateral File held by such Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide’s request therefor, such Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of such package, the Servicer shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent notice from Countrywide stating that such failure Mortgage Loan was caused by the Owner’s breach of liquidated, such Purchaser shall release Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide's request therefore, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed therefore shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide's request and request, send delivery to the Servicer Purchaser, or the requested Purchaser's designee, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide's request therefore, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately provide written notice to the Servicer (i) Purchaser or the Custodian. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerPurchaser or the Custodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide’s request and request, send delivery to the Servicer Purchaser, or the requested Custodian, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser or the Custodian. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction or release in accordance with applicable state law requirements. In addition, if, with respect to any Mortgage Loan that has been paid in full, the Owner has recorded or caused to be recorded in the appropriate public recording office of the jurisdiction in which the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy either judicially or release the lien of the Mortgage. The Owner shall, within five (5) Business Days following its receipt of any such request, send to the Servicer the fullynon-executed documents that were prepared and requested by the Servicer. Upon receipt of such package, the Servicer shall process such satisfaction or release in accordance with applicable state law requirementsjudicially. In the event that applicable state law requires that a satisfaction the Purchaser fails to release or release cause to be recorded within a shorter time period than released to Countrywide the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified held by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Purchaser or its obligations under this Section 5.2.designee within five

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the ServicerPurchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Owner Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser shall, within five (5) Business Days following its receipt of any such certification Countrywide’s request and request, send delivery to the Servicer Purchaser, or the requested Purchaser’s designee, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser or its designee. Upon receipt Pursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser the related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Collateral File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of such package, initiating or pursuing legal action or other proceedings for the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien foreclosure of the Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of any such Countrywide’s request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicer. Upon receipt of such package, the Servicer shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of its obligations under this Section 5.2.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer Countrywide of a notification that payment in full will be escrowed in a manner customary for such purposes, Countrywide shall immediately notify the Servicer (i) Purchaser. Such notice shall prepare include a statement to the appropriate documents and instruments effect that all amounts received or to be received in connection with such payment, which are required to satisfy be deposited in the Custodial Account pursuant to Section 4.04, have been or release the lien will be so deposited and shall request delivery to it of the Mortgage in accordance with applicable state law requirements, (ii) shall promptly and within the time periods appropriate to process the satisfaction or release within the applicable legal deadlines notify the Owner of such event and (iii) shall request that the Owner deliver the required portion of the Collateral File held by the Purchaser or the Custodian. Upon receipt of such notice and request, the Purchaser, or its designee, shall within five (5) Business Days release or cause to be released to Countrywide the related Collateral Documents and Countrywide shall prepare and process any satisfaction or release. In the event that the Purchaser fails to release or cause to be released to Countrywide the related Collateral Documents within five (5) Business Days of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the ServicerCustodial Account. The Owner In the event Countrywide satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, Countrywide, upon written demand, shall remit to the Purchaser the then unpaid principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Countrywide shall maintain the Fidelity Bond insuring Countrywide against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the service or foreclosure of a Mortgage Loan, including for the purpose of collection under any PMI Policy, the Purchaser, its designee, or the Custodian shall, within five (5) Business Days following its receipt of any such certification Countrywide’s request and request, send delivery to the Servicer Purchaser, its designee, or the requested Custodian, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral FileFile held by the Purchaser, its designee, or the Custodian. Upon receipt of such packagePursuant to the servicing receipt, Countrywide shall be obligated to return to the Purchaser, its designee, or the Custodian, the Servicer shall prepare related Collateral File when Countrywide no longer needs such file, unless the Mortgage Loan has been liquidated and execute the documents and instruments necessary Liquidation Proceeds relating to satisfy the Mortgage Loan have been deposited in the Custodial Account or release the lien Collateral File or such document has 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 Mortgage and shall process such satisfaction Mortgaged Property either judicially or release in accordance with applicable state law requirementsnon-judicially. In addition, if, with respect the event that the Purchaser fails to any Mortgage Loan that has been paid in full, the Owner has recorded release or caused cause to be recorded in released to Countrywide the appropriate public recording office portion of the jurisdiction in which Collateral File held by the related Mortgaged Property is located the related Assignment of Mortgage which designates the Owner as the holder of record of the Mortgage, the Servicer shall prepare and deliver to the Owner, together with a request for execution, the documents and instruments necessary to satisfy Purchaser or release the lien of the Mortgage. The Owner shall, its designee within five (5) Business Days following its receipt of Countrywide’s request therefor, the Purchaser shall be liable to Countrywide for any additional expenses or costs, including, but not limited to, outsourcing fees and penalties, incurred by Countrywide resulting from such request, send to the Servicer the fully-executed documents that were prepared and requested by the Servicerfailure. Upon receipt of notice from Countrywide stating that such packageMortgage Loan was liquidated, the Servicer Purchaser shall process such satisfaction or release in accordance with applicable state law requirements. In the event that applicable state law requires that a satisfaction or release be recorded within a shorter time period than the processes set forth above permits, the Servicer shall advise the Owner accordingly and shall use reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The Owner shall assist therewith by returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) within the time periods specified by the Servicer. The Servicer shall not be liable for and the Owner shall indemnify the Servicer against any third party liability for failure to release the lien of a Mortgage as required under applicable law to the extent that such failure was caused by the Owner’s breach of Countrywide from its obligations under this Section 5.2the related servicing receipt.