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. (b) If the Servicer satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instruments, upon written demand of the Owner, the Servicer shall remit to the Owner the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein.

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. (b) If the Servicer satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instruments, upon written demand of the Owner, the Servicer shall remit to the Owner the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein.

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. (b) If the Servicer satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instruments, upon written demand of the Owner, the Servicer shall remit to the Owner the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Xxxx-xxxx Loan not satisfied in accordance with the procedures set forth herein.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Servicer, upon becoming aware of the foregoing, shall request that remit to the Owner deliver the required portion Unpaid Principal Balance of the Collateral File related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4(c). The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) The Owner shall, within five (5) Business Days following its receipt of any request from the Servicer (or within such certification and request, send shorter period as is necessary for the Servicer to perform its obligations hereunder in compliance with all Applicable Servicing Procedures) deliver or cause to be delivered to the Servicer the requested Collateral File (or any portion of the Collateral File. Upon receipt of such package, thereof) required by the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsof any Mortgage pursuant to this Section 4.2. In addition, if, with respect to if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use reasonable its best efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by by, to the extent reasonably practicable, returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If a Mortgage Loan that has been paid in full is a MERS Loan, the Servicer satisfies or releases a may cause the removal of such Mortgage without first having obtained payment in full of Loan from registration on the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsMERS(R) System and execute and deliver, upon written demand on behalf of the Owner, any and all related instruments of satisfaction or release. No expense incurred in connection with the Servicer delivery of any instrument of satisfaction or deed or reconveyance shall remit be chargeable to the Owner Account or the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinOwner.

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 to held by the ServicerPurchaser or the Custodian. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide's request and delivery to the Purchaser, its designee, or the Custodian of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser, its designee, or the Custodian. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the 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 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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the Purchaser 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Servicer Custodial Account. With respect to a Mortgage Loan paid in full as set forth in the fully-executed documents that were prepared and requested by above paragraph, if the Servicer. Upon receipt Mortgage has been recorded in the name of such packageMERS or its designee, Countrywide shall take all necessary action to effect the Servicer shall process such satisfaction or release in accordance with applicable state law requirementsof the Mortgage Loan on the records of MERS. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the OwnerPurchaser, the Servicer shall promptly remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond Fidelity Bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer 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 of Countrywide's request and delivery to the Purchaser, or the 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 File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) shall request that the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any right the Owner deliver may have under the required portion mortgage instruments, the Servicer, upon becoming aware of the Collateral File foregoing, shall remit to the Owner the Unpaid Principal Balance of the related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4(c). The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against, losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) If the Custodial Agreement does not apply or if the Custodian fails to deliver to the Servicer the Collateral File (or any portion thereof) required by the Servicer to process any satisfaction or release of any Mortgage pursuant to this Section 4.2, the Owner shall, within five (5) Business Days following its receipt of any such certification and request, send request from the Servicer deliver or cause to be delivered to the Servicer the requested all or any portion of the such 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 if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use reasonable its best efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by by, to the extent reasonably practicable, returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If No expense incurred in connection with any instrument of satisfaction or deed or reconveyance shall be chargeable to the Servicer satisfies Account or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instruments, upon written demand of the Owner, the Servicer shall remit to the Owner the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Servicer, upon becoming aware of the foregoing, shall request that remit to the Owner deliver the required portion Unpaid Principal Balance of the Collateral File related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4. The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against, losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) The Owner shall, within five (5) Business Days following its receipt of any request from the Servicer (or within such certification and request, send shorter period as is necessary for the Servicer to perform its obligations hereunder in compliance with all Applicable Servicing Procedures) deliver or cause the Custodian to deliver to the Servicer the requested Collateral File (or any portion of the Collateral File. Upon receipt of such package, thereof) required by the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsof any Mortgage pursuant to this Section 4.2. In addition, if, with respect to if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use reasonable its best efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by by, to the extent reasonably practicable, returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If a Mortgage Loan that has been paid in full is a MERS Loan, the Servicer satisfies or releases a may cause the removal of such Mortgage without first having obtained payment in full of Loan from registration on the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsMERS(R) System and execute and deliver, upon written demand on behalf of the Owner, any and all related instruments of satisfaction or release. No expense incurred in connection with the Servicer delivery of any instrument of satisfaction or deed or reconveyance shall remit be chargeable to the Owner Account or the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinOwner.

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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request and delivery to the Purchaser, or the 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 File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Servicer, upon becoming aware of the foregoing, shall request that remit to the Owner deliver the required portion Unpaid Principal Balance of the Collateral File related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4. The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against, losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) The Owner shall, within five (5) Business Days following its receipt of any request from the Servicer (or within such certification and request, send shorter period as is necessary for the Servicer to perform its obligations hereunder in compliance with all Applicable Servicing Procedures) deliver or cause to be delivered to the Servicer the requested Collateral File (or any portion of the Collateral File. Upon receipt of such package, thereof) required by the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsof any Mortgage pursuant to this Section 4.2. In addition, if, with respect to if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use reasonable its best efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by by, to the extent reasonably practicable, returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If a Mortgage Loan that has been paid in full is a MERS Loan, the Servicer satisfies or releases a may cause the removal of such Mortgage without first having obtained payment in full of Loan from registration on the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsMERS® System and execute and deliver, upon written demand on behalf of the Owner, any and all related instruments of satisfaction or release. No expense incurred in connection with the Servicer delivery of any instrument of satisfaction or deed or reconveyance shall remit be chargeable to the Owner Account or the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinOwner.

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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the Purchaser, or the Custodian, 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request and delivery to the Custodian of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the 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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the Purchaser, or the Custodian, 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide's request and delivery to the Custodian of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release release. No expense incurred in accordance connection with applicable state law requirements. In addition, if, with respect to any Mortgage Loan that has been paid in full, the Owner has recorded instrument of satisfaction or caused to deed of reconveyance shall 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 chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights the Owner right Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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, Purchaser shall, upon request of Countrywide and delivery to Purchaser, or 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 File held by Purchaser or its designee. Pursuant to the servicing receipt, Countrywide shall be obligated to return to 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated and the funds have been deposited or will be deposited in the Custodial Account, Purchaser shall release Countrywide from its obligations under the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Servicer, upon becoming aware of the foregoing, shall request that remit to the Owner deliver the required portion Unpaid Principal Balance of the Collateral File related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4. The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against, losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) The Owner shall, within five (5) Business Days following its receipt of any request from the Servicer (or within such certification and request, send shorter period as is necessary for the Servicer to perform its obligations hereunder in compliance with all Applicable Servicing Procedures) deliver or cause the Custodian to deliver to the Servicer the requested Collateral File (or any portion of the Collateral File. Upon receipt of such package, thereof) required by the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsof any Mortgage pursuant to this Section 4.2. In addition, if, with respect to if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use reasonable its best efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by by, to the extent reasonably practicable, returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If a Mortgage Loan that has been paid in full is a MERS Loan, the Servicer satisfies or releases a may cause the removal of such Mortgage without first having obtained payment in full of Loan from registration on the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsMERS® System and execute and deliver, upon written demand on behalf of the Owner, any and all related instruments of satisfaction or release. No expense incurred in connection with the Servicer delivery of any instrument of satisfaction or deed or reconveyance shall remit be chargeable to the Owner Account or the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinOwner.

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. (b) If the Servicer satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instruments, upon written demand of the Owner, the Servicer shall remit to the Owner the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein.

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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed therefore shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide's request and delivery to the Purchaser, or the 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 File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the 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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 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. Countrywide’s request 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request and delivery to the Purchaser, or the 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 File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee within five (5) Business Days of Countrywide’s request

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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request and delivery to the Purchaser, or the 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 File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the 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 to held by such Purchaser. Upon receipt of such notice and request, the Servicer. The Owner shallrelated 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. In addition, if, with respect the event that the related Purchaser 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, 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner related Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner such Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request, release or cause to be released to Countrywide the portion of the Collateral File held by such Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that such Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by such Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, such Purchaser shall release Countrywide from its obligations under the 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. (b) If In connection with any such payment in full, the Servicer satisfies or releases a Subservicer shall be responsible for causing the MERS® System to indicate that the applicable Mortgage without first having obtained Loan has been paid in full and the lien on the related Mortgaged Property has been released in accordance with this Agreement by including in such computer files the information required by the MERS® System in order to reflect such payment in full of the indebtedness secured and release. (c) All reasonable costs and expenses borne by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsSubservicer pursuant to this Section 5.21, upon written demand of the Owner, the Servicer shall remit including but not limited to the Owner the then unpaid principal balance costs of the related shipping and storing documents, and carrying costs associated with paid in full Mortgage Loan. The Servicer Loans, shall maintain the fidelity bond and errors and omissions insurance policy be reimbursable as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereina Pass-Through Expense.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Servicer, upon becoming aware of the foregoing, shall request that remit to the Owner deliver the required portion Unpaid Principal Balance of the Collateral File related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4. The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against, losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) The Owner shall, within five (5) Business Days following its receipt of any request from the Servicer (or within such certification and request, send shorter period as is necessary for the Servicer to perform its obligations hereunder in compliance with all Applicable Servicing Procedures) deliver or cause to be delivered to the Servicer the requested Collateral File (or any portion of the Collateral File. Upon receipt of such package, thereof) required by the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsof any Mortgage pursuant to this Section 4.2. In addition, if, with respect to if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use reasonable its best efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by by, to the extent reasonably practicable, returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If a Mortgage Loan that has been paid in full is a MERS Loan, the Servicer satisfies or releases a may cause the removal of such Mortgage without first having obtained payment in full of Loan from registration on the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsMERS(R)System and execute and deliver, upon written demand on behalf of the Owner, any and all related instruments of satisfaction or release. No expense incurred in connection with the Servicer delivery of any instrument of satisfaction or deed or reconveyance shall remit be chargeable to the Owner Account or the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinOwner.

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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Servicer Purchaser or 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request and delivery to the Purchaser, or the Custodian, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or the Custodian. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee within five

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Servicer, upon becoming aware of the foregoing, shall request that remit to the Owner deliver the required portion Unpaid Principal Balance of the Collateral File related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4. The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against, losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) The Owner shall, within five (5) Business Days following its receipt of any request from the Servicer (or within such certification and request, send shorter period as is necessary for the Servicer to perform its obligations hereunder in compliance with all Applicable Servicing Procedures) deliver or cause to be delivered to the Servicer the requested Collateral File (or any portion of the Collateral File. Upon receipt of such package, thereof) required by the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsof any Mortgage pursuant to this Section 4.2. In addition, if, with respect to if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use commercially reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by by, to the extent reasonably practicable, returning to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If a Mortgage Loan that has been paid in full is a MERS Loan, the Servicer satisfies or releases a may cause the removal of such Mortgage without first having obtained payment in full of Loan from registration on the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsMERS® System and execute and deliver, upon written demand on behalf of the Owner, any and all related instruments of satisfaction or release. No expense incurred in connection with the Servicer delivery of any instrument of satisfaction or deed or reconveyance shall remit be chargeable to the Owner Account or the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinOwner.

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 to held by the ServicerPurchaser. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request and delivery to the Purchaser, or the 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 File held by the Purchaser or its designee. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the related servicing receipt.

Satisfaction of Mortgages and Release of Collateral Files. (a) Upon the payment in full of any Mortgage Loan, 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. The Servicer, (ii) shall promptly and within the time periods applicable legal deadlines appropriate to process the satisfaction or release within the applicable legal deadlines release, shall notify the Owner of such event. (b) The Servicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage. In the event and (iii) the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Servicer, upon becoming aware of the foregoing, shall request that remit to the Owner deliver the required portion Unpaid Principal Balance of the Collateral File related Mortgage Loan plus accrued and unpaid interest by deposit thereof in the Account pursuant to Section 2.4. The Owner shall assign the related Mortgage and endorse the related Mortgage Note to the Servicer and shall do all things necessary to transfer ownership of the Mortgage Loan to the Servicer. The Servicer shall maintain the Fidelity Bond as provided for in Section 2.11 protecting and insuring the Servicer against, losses sustained with respect to any Mortgage Loan satisfied or released other than in accordance with the procedures set forth herein. (c) The Owner shallshall cause the Custodian to deliver, within five (5) Business Days following its receipt by the Custodian of any request from the Servicer (or within such certification and request, send shorter period as is necessary for the Servicer to perform its obligations hereunder in compliance with all Applicable Servicing Procedures) to the Servicer the requested Collateral File (or any portion of the Collateral File. Upon receipt of such package, thereof) required by the Servicer shall prepare and execute the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsof any Mortgage pursuant to this Section 4.2. In addition, if, with respect to if any Mortgage Loan that has been paid in fullfull and, pursuant to Section 2.2(b) of the Purchase Agreement, 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 designating 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 foregoing procedure permits, the Servicer shall advise the Owner accordingly and shall use commercially reasonable efforts to ensure that the lien of the Mortgage is released or satisfied in accordance with applicable state law requirements. The , and the Owner shall assist therewith by returning by, to the extent reasonably practicable, causing the Custodian to return to the Servicer the required portion of the Collateral File (and, if applicable, the executed satisfaction and release documents and instruments) instruments within the time periods reasonably 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. (bd) If a Mortgage Loan that has been paid in full is a MERS Loan, the Servicer satisfies or releases a may cause the removal of such Mortgage without first having obtained payment in full of Loan from registration on the indebtedness secured by the Mortgage or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instrumentsMERS® System and execute and deliver, upon written demand on behalf of the Owner, any and all related instruments of satisfaction or release. No expense incurred in connection with the Servicer delivery of any instrument of satisfaction or deed or reconveyance shall remit be chargeable to the Owner Account or the then unpaid principal balance of the related Mortgage Loan. The Servicer shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinOwner.

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 to held by the ServicerPurchaser or the Custodian. The Owner shallUpon receipt of such notice and request, the 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 the documents and instruments necessary to satisfy or release the lien of the Mortgage and shall process such any satisfaction or release in accordance with applicable state law requirementsrelease. 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 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 failure. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable 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 requirementsCustodial Account. 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. (b) If the Servicer Countrywide satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Servicer it otherwise prejudice any rights right the Owner Purchaser may have under the mortgage instruments, Countrywide, upon written demand of the Ownerdemand, the Servicer shall remit to the Owner Purchaser the then unpaid principal balance of the related Mortgage LoanLoan by deposit thereof in the Custodial Account. The Servicer Countrywide shall maintain the fidelity bond and errors and omissions insurance policy as provided for in Section 3.12 Fidelity Bond insuring the Servicer 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 of Countrywide’s request and delivery to the Purchaser, its designee, or the Custodian, of a servicing receipt signed by a Servicing Officer, release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser, its designee, or the Custodian. 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 initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially. In the event that the Purchaser fails to release or cause to be released to Countrywide the portion of the Collateral File held by the Purchaser or its designee 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. Upon receipt of notice from Countrywide stating that such Mortgage Loan was liquidated, the Purchaser shall release Countrywide from its obligations under the related servicing receipt.