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

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller will immediately notify the Purchaser by a certification of a servicing officer of the Seller (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 11.04 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s designee. Upon receipt of such certification and request, the Purchaser, shall promptly release the related loan documents to the Seller and the Seller shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser shall, upon request of the Seller and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return the related documents to the Purchaser when the need therefor by the Seller no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Account or the Loan 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, and the Seller has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser by a certification of a servicing officer of the Seller Servicer (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 11.04 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s designee. Upon receipt of such certification and request, the Purchaser, shall promptly release the related loan documents to the Seller Servicer and the Seller Servicer shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Purchaser. In the event the Seller Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the SellerServicer, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller Servicer shall maintain the fidelity bond insuring the Seller Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser shall, upon request of the Seller Servicer and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser to the SellerServicer. Such servicing receipt shall obligate the Seller Servicer to return the related documents to the Purchaser when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Account or the Loan 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, and the Seller Servicer has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser to the SellerServicer.

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller will immediately notify the Purchaser by a certification of a servicing officer of the Seller (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 11.04 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s designee. Upon receipt of such certification and request, the Purchaser, shall promptly release the related loan documents to the Seller and the Seller shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser shall, upon request of the Seller and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return the related documents to the Purchaser when the need therefor by the Seller no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Account or the Loan 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, and the Seller has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Loan Files. 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 or otherwise prejudice any right the Noteholders or the Certificateholders may have under the mortgage instruments, subject to Section 4.01 hereof. The Servicer shall maintain the Fidelity Bond as provided for in Section 4.09 insuring the Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser by a certification of a servicing officer of Trustee or Custodian, as applicable (and, with respect to the Seller (a “Servicing Officer”Home Improvement Loans, the Custodian), by an Officers' Certificate in the form of Exhibit G-1 or Exhibit G-2 attached hereto (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Principal and Interest Account pursuant to Section 11.04 4.03 have been or will be so deposited, ) of a Servicing Officer and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Trustee's Loan File held by the Purchaser or the Purchaser’s designeeFile. Upon receipt of such certification and request, the PurchaserTrustee or Custodian, as applicable (and, with respect to the Home Improvement Loans, the Custodian) shall promptly release the related loan documents Trustee's Loan File to the Seller Servicer. With respect to the FHA Loans, the Servicer shall prepare all required documents required to evidence such release and the Seller Custodian shall prepare execute and process any satisfaction or releasedeliver such documentation to the Servicer, but only to the extent that the Servicer is unable to record such release acting solely in its capacity as Servicer. No expense Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be payable only from and to the extent of servicing compensation and shall not be chargeable to the Custodial Principal and Interest Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth hereinother Accounts. From time to time and as appropriate for the servicing or foreclosure of the any Loan, including including, for this purpose purpose, collection under any Primary Insurance Policy or LPMI Policyprimary mortgage guaranty insurance policy, the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) shall, upon request of the Seller Servicer and delivery to the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) of a servicing receipt certification in the form of Exhibit G-1 or Exhibit G-2 attached hereto signed by a Servicing Officer, release the requested portion of the related Trustee's Loan File held by the Purchaser to the SellerServicer, and the Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall execute such documents as shall be necessary to the prosecution of any such proceedings. Such servicing receipt shall obligate the Seller Servicer to return the related documents Loan File to the Purchaser Trustee (or, with respect to the Home Improvement Loans, the Custodian) when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Home Improvement Loan have been deposited in the Custodial Principal and Interest Account or the Loan 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, and the Seller Servicer has delivered to the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser Trustee (or, with respect to the SellerHome Improvement Loans, the Custodian) to the Servicer. The Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall execute and deliver to the Servicer any court pleadings, requests for trustee's sale or other documents necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Obligor on the Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Note or Mortgage or otherwise available at law or in equity. Together with such documents or pleadings, the Servicer shall deliver to the Trustee (or, with respect to the Home Improvement Loans, the Custodian) a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee (or, with respect to the Home Improvement Loans, the Custodian) will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale. The Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall, upon receipt of a written request from a Servicing Officer, execute any document provided to the Trustee (or, with respect to the Home Improvement Loans, the Custodian) by the Servicer or take any other action requested in such request, that is, in the opinion of the Servicer as evidenced by such request, required by any state or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction thereof and the Trustee will sign and post, but will not guarantee receipt of, any such documents to the Servicer, or such other party as the Servicer may direct, within five Business Days of the Trustee's receipt of such certificate or documents. Such certificate or documents shall establish to the Trustee's satisfaction that the related Loan has been paid in full by or on behalf of the Obligor and that such payment has been deposited in the Principal and Interest Account.

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser Issuer and the Initial Noteholder by a certification of a servicing officer of the Seller Servicer (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Collection Account pursuant to Section 11.04 5.01 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s designeeCustodian. Upon receipt of such certification a Request for Release and requestReceipt (as defined in the Custodial Agreement), the Purchaser, Custodian shall promptly release the related loan mortgage documents to the Seller Servicer in accordance with the Custodial Agreement and the Seller Servicer shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the PurchaserIssuer. In the event the Seller Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser Issuer or the Noteholders may have under the loan mortgage instruments, the SellerServicer, upon written demand, shall remit to the Purchaser Issuer the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Collection Account. The Seller Servicer shall maintain the fidelity bond insuring the Seller Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser Custodian shall, upon request of the Seller Servicer and delivery to the Purchaser Custodian of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser Custodian to the SellerServicer. Such servicing receipt shall obligate the Seller Servicer to return the related Mortgage documents to the Purchaser Custodian when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Collection Account or the Loan 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-non judicially, and the Seller Servicer has delivered to the Purchaser Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser Custodian to the SellerServicer.

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller will immediately notify the Purchaser by a certification of a servicing officer of the Seller (a “"Servicing Officer”"), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 11.04 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s 's designee. Upon receipt of such certification and request, the Purchaser, shall promptly release the related loan documents to the Seller and the Seller shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser shall, upon request of the Seller and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return the related documents to the Purchaser when the need therefor by the Seller no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Account or the Loan 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, and the Seller has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Loan Files. Subject to the provisions of SECTIONS 4.01, 4.02 AND 4.07, as applicable, Subservicer shall not grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or otherwise prejudice any right Owner may have under the mortgage instruments. Subservicer shall maintain the fidelity bond and errors and omissions insurance as provided for in SECTION 4.06 insuring Subservicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. Upon the payment in full of any Title I Mortgage Loan, or the receipt by the Seller Subservicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Subservicer will immediately notify the Purchaser (and forward a copy of such notice to any FHA Claims Administrator) Servicer and Owner by a certification of a servicing officer of the Seller an Officer's Certificate (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Collection Account pursuant to Section 11.04 SECTION 4.03 have been or will be so deposited, ) and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Owner's Loan File held by the Purchaser or the Purchaser’s designeeFile. Upon receipt of such certification and request, the Purchaser, Owner shall promptly release the related loan documents Owner's Loan File to the Seller and the Seller shall prepare and process any satisfaction or releaseSubservicer. No expense Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be payable only from and to the extent of Servicing Compensation and shall not be chargeable to the Custodial Account Collection Account. The Owner shall execute and deliver to the Subservicer any court pleadings, requests for trustee's sale or other documents necessary to the Purchaser. In the event the Seller satisfies foreclosure or releases trustee's sale in respect of a Mortgage without having obtained payment Property or to any legal action brought to obtain judgment against any Obligor on the Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Note or Mortgage or otherwise available at law or in full equity. Together with such documents or pleadings, Subservicer shall deliver to Owner an Officer's certificate requesting that such pleadings or documents be executed by Owner and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by Owner will not invalidate or otherwise affect the lien of the indebtedness secured Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale. Owner shall, upon receipt of a written request from an Officer of Subservicer, execute any document provided to Owner by the Subservicer or take any other action requested in such request that is, in the opinion of Subservicer as evidenced by such request, required by any state or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction thereof and Owner will sign and post, but will not guarantee receipt of, any such documents to Subservicer, or should it otherwise prejudice any right the Purchaser such other party as Subservicer may have under the loan instrumentsdirect, the Sellerwithin five Business Days, upon written demandor more promptly if needed, of Owner's receipt of such certificate or documents. Such certificate or documents shall remit establish to the Purchaser the then outstanding principal balance of Owner's satisfaction that the related Loan has been paid in full by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure on behalf of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser shall, upon request of the Seller Obligor and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return the related documents to the Purchaser when the need therefor by the Seller no longer exists, unless the Loan that such payment has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Account or the Loan 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, and the Seller has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser to the SellerCollection Account.

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller will immediately notify the Purchaser by a certification of a servicing officer of the Seller (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 11.04 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s designee. Upon receipt of such certification and request, the Purchaser, shall promptly release the related loan documents Loan Documents to the Seller and the Seller shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instrumentsrelated Loan Documents, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser shall, upon request of the Seller and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return the related documents to the Purchaser when the need therefor by the Seller no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Account or the Loan 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, and the Seller has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Loan Files. 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 or otherwise prejudice any right the Noteholders or the Certificateholders may have under the mortgage instruments, subject to Section 4.01 hereof. The Servicer shall maintain the Fidelity Bond as provided for in Section 4.09 insuring the Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser Custodian and the Indenture Trustee, by a certification an Officers' Certificate in the form of a servicing officer of the Seller Exhibit G attached hereto (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial applicable Principal and Interest Account pursuant to Section 11.04 4.03 have been or will be so deposited, ) of a Servicing Officer and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Indenture Trustee's Loan File held by the Purchaser or the Purchaser’s designeeFile. Upon receipt of such certification and request, the PurchaserCustodian, shall promptly release the related loan documents Indenture Trustee's Loan File to the Seller Servicer. The Servicer shall prepare all required documents required to evidence such release and the Seller Indenture Trustee shall prepare upon receipt of such documents from the Servicer execute and process any satisfaction or releasedeliver such documentation to the Servicer, but only to the extent that the Servicer is unable to record such release acting solely in its capacity as Servicer. No expense Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be payable only from and to the extent of servicing compensation and shall not be chargeable to the Custodial Principal and Interest Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth hereinother Accounts. From time to time and as appropriate for the servicing or foreclosure of the any Loan, including including, for this purpose purpose, collection under any Primary Insurance Policy or LPMI Policyprimary mortgage guaranty insurance policy, the Purchaser Custodian shall, upon request of the Seller Servicer and delivery to the Purchaser Custodian of a servicing receipt certification in the form of Exhibit G attached hereto signed by a Servicing Officer, release the requested portion of the related Indenture Trustee's Loan File held by the Purchaser to the SellerServicer, and the Custodian shall execute such documents as shall be necessary to the prosecution of any such proceedings. Such servicing receipt shall obligate the Seller Servicer to return the related documents Loan File to the Purchaser Custodian when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Home Improvement Loan have been deposited in the Custodial applicable Principal and Interest Account or the Loan 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, and the Seller Servicer has delivered to the Purchaser Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser Custodian to the SellerServicer. The Indenture Trustee, upon the request of the Servicer and receipt of the applicable documents by the Custodian, shall execute upon request of the Servicer and delivery to the Indenture Trustee any court pleadings, requests for trustee's sale or other documents necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Obligor on the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. Together with such documents or pleadings, the Servicer shall deliver to the Indenture Trustee a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Indenture Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Indenture Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale. The Indenture Trustee shall, upon receipt of a written request from a Servicing Officer, execute any document provided to the Indenture Trustee by the Servicer or take any other action requested in such request, that is, in the opinion of the Servicer as evidenced by such request, required by any state or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction thereof and the Indenture Trustee will sign and post, but will not guarantee receipt of, any such documents to the Servicer, or such other party as the Servicer may direct, within five Business Days of the Indenture Trustee's receipt of such certificate or documents. Such certificate or documents shall establish to the Indenture Trustee's satisfaction that the related Loan has been paid in full by or on behalf of the Obligor and that such payment has been deposited in the applicable Principal and Interest Account.

Satisfaction of Mortgages and Release of Loan Files. 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 or otherwise prejudice any right the Noteholders or the Certificateholders may have under the mortgage instruments, subject to Section 4.01 hereof. The Servicer shall maintain the Fidelity Bond as provided for in Section 4.09 insuring the Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser by a certification of a servicing officer of Trustee or Co-Trustee, as applicable (and, with respect to the Seller (a “Servicing Officer”Home Improvement Loans, the Custodian), by an Officers' Certificate in the form of Exhibit G-1 or Exhibit G-2 attached hereto (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Principal and Interest Account pursuant to Section 11.04 4.03 have been or will be so deposited, ) of a Servicing Officer and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Trustee's Loan File held by the Purchaser or the Purchaser’s designeeFile. Upon receipt of such certification and request, the PurchaserTrustee or Co-Trustee, as applicable (and, with respect to the Home Improvement Loans, the Custodian) shall promptly release the related loan documents Trustee's Loan File to the Seller Servicer. The Servicer shall prepare all required documents required to evidence such release and the Seller Trustee (or with respect to the Home Improvement Loans, the Custodian) shall prepare execute and process any satisfaction or releasedeliver such documentation to the Servicer, but only to the extent that the Servicer is unable to record such release acting solely in its capacity as Servicer. No expense Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be payable only from and to the extent of servicing compensation and shall not be chargeable to the Custodial Principal and Interest Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth hereinother Accounts. From time to time and as appropriate for the servicing or foreclosure of the any Loan, including including, for this purpose purpose, collection under any Primary Insurance Policy or LPMI Policyprimary mortgage guaranty insurance policy, the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) shall, upon request of the Seller Servicer and delivery to the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) of a servicing receipt certification in the form of Exhibit G-1 or Exhibit G-2 attached hereto signed by a Servicing Officer, release the requested portion of the related Trustee's Loan File held by the Purchaser to the SellerServicer, and the Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall execute such documents as shall be necessary to the prosecution of any such proceedings. Such servicing receipt shall obligate the Seller Servicer to return the related documents Loan File to the Purchaser Trustee (or, with respect to the Home Improvement Loans, the Custodian) when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Home Improvement Loan have been deposited in the Custodial Principal and Interest Account or the Loan 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, and the Seller Servicer has delivered to the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser Trustee (or, with respect to the SellerHome Improvement Loans, the Custodian) to the Servicer. The Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall execute and deliver to the Servicer any court pleadings, requests for trustee's sale or other documents necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Obligor on the Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Note or Mortgage or otherwise available at law or in equity. Together with such documents or pleadings, the Servicer shall deliver to the Trustee (or, with respect to the Home Improvement Loans, the Custodian) a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee (or with respect to the Home Improvement Loans, the Custodian) and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee (or, with respect to the Home Improvement Loans, the Custodian) will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale. The Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall, upon receipt of a written request from a Servicing Officer, execute any document provided to the Trustee (or, with respect to the Home Improvement Loans, the Custodian) by the Servicer or take any other action requested in such request, that is, in the opinion of the Servicer as evidenced by such request, required by any state or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction thereof and the Trustee (or with respect to the Home Improvement Loans, the Custodian) will sign and post, but will not guarantee receipt of, any such documents to the Servicer, or such other party as the Servicer may direct, within five Business Days of the Trustee's (or with respect to the Home Improvement Loans, the Custodian's) receipt of such certificate or documents. Such certificate or documents shall establish to the Trustee's (or with respect to the Home Improvement Loans, the Custodian's) satisfaction that the related Loan has been paid in full by or on behalf of the Obligor and that such payment has been deposited in the Principal and Interest Account.

Satisfaction of Mortgages and Release of Loan Files. 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 or otherwise prejudice any right the Noteholders or the Certificateholders may have under the mortgage instruments, subject to Section 4.01 hereof. The Servicer shall maintain the Fidelity Bond as provided for in Section 4.09 insuring the Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser Custodian and the Indenture Trustee, by a certification an Officers' Certificate in the form of a servicing officer of the Seller Exhibit G attached hereto (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial applicable Principal and Interest Account pursuant to Section 11.04 4.03 have been or will be so deposited, ) of a Servicing Officer and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Indenture Trustee's Loan File held by the Purchaser or the Purchaser’s designeeFile. Upon receipt of such certification and request, the PurchaserCustodian, shall promptly release the related loan documents Indenture Trustee's Loan File to the Seller Servicer. The Servicer shall prepare all required documents required to evidence such release and the Seller Indenture Trustee shall prepare upon receipt of such documents from the Servicer execute and process any satisfaction or releasedeliver such documentation to the Servicer, but only to the extent that the Servicer is unable to record such release acting solely in its capacity as Servicer. No expense Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be payable only from and to the extent of servicing compensation and shall not be chargeable to the Custodial Principal and Interest Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth hereinother Accounts. From time to time and as appropriate for the servicing or foreclosure of the any Loan, including including, for this purpose purpose, collection under any Primary Insurance Policy or LPMI Policyprimary mortgage guaranty insurance policy, the Purchaser Custodian shall, upon request of the Seller Servicer and delivery to the Purchaser Custodian of a servicing receipt certification in the form of Exhibit G attached hereto signed by a Servicing Officer, release the requested portion of the related Indenture Trustee's Loan File held by the Purchaser to the SellerServicer, and the Custodian shall execute such documents as shall be necessary to the prosecution of any such proceedings. Such servicing receipt shall obligate the Seller Servicer to return the related documents Indenture Trustee's Loan File to the Purchaser Custodian when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial applicable Principal and Interest Account or the Indenture Trustee's Loan 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, and the Seller Servicer has delivered to the Purchaser Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser Custodian to the SellerServicer. The Indenture Trustee, upon the request of the Servicer and receipt of the applicable documents by the Custodian, shall execute upon request of the Servicer and delivery to the Indenture Trustee any court pleadings, requests for trustee's sale or other documents necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Obligor on the Business Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Business Note or Mortgage or otherwise available at law or in equity. Together with such documents or pleadings, the Servicer shall deliver to the Indenture Trustee a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Indenture Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Indenture Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale. The Indenture Trustee shall, upon receipt of a written request from a Servicing Officer, execute any document provided to the Indenture Trustee by the Servicer or take any other action requested in such request, that is, in the opinion of the Servicer as evidenced by such request, required by any state or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction thereof and the Indenture Trustee will sign and post, but will not guarantee receipt of, any such documents to the Servicer, or such other party as the Servicer may direct, within five Business Days of the Indenture Trustee's receipt of such certificate or documents. Such certificate or documents shall establish to the Indenture Trustee's satisfaction that the related Loan has been paid in full by or on behalf of the Obligor and that such payment has been deposited in the applicable Principal and Interest Account.

Satisfaction of Mortgages and Release of Loan Files. 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 or otherwise prejudice any right the Noteholders or the Certificateholders may have under the mortgage instruments, subject to Section 4.01 hereof. The Servicer shall maintain the Fidelity Bond as provided for in Section 4.09 insuring the Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser by a certification of a servicing officer of Trustee or Co-Trustee, as applicable (and, with respect to the Seller (a “Servicing Officer”Home Improvement Loans, the Custodian), by an Officers' Certificate in the form of Exhibit G-1 or Exhibit G-2 attached hereto (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Principal and Interest Account pursuant to Section 11.04 4.03 have been or will be so deposited, ) of a Servicing Officer and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Trustee's Loan File held by the Purchaser or the Purchaser’s designeeFile. Upon receipt of such certification and request, the PurchaserTrustee or Co-Trustee, as applicable (and, with respect to the Home Improvement Loans, the Custodian) shall promptly release the related loan documents Trustee's Loan File to the Seller Servicer. The Servicer shall prepare all required documents required to evidence such release and the Seller Trustee (or with respect to the Home Improvement Loans, the Custodian) shall prepare execute and process any satisfaction or releasedeliver such documentation to the Servicer, but only to the extent that the Servicer is unable to record such release acting solely in its capacity as Servicer. No expense Expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be payable only from and to the extent of servicing compensation and shall not be chargeable to the Custodial Principal and Interest Account or the Purchaser. In the event the Seller satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan instruments, the Seller, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth hereinother Accounts. From time to time and as appropriate for the servicing or foreclosure of the any Loan, including including, for this purpose purpose, collection under any Primary Insurance Policy or LPMI Policyprimary mortgage guaranty insurance policy, the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) shall, upon request of the Seller Servicer and delivery to the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) of a servicing receipt certification in the form of Exhibit G-1 or Exhibit G-2 attached hereto signed by a Servicing Officer, release the requested portion of the related Trustee's Loan File held by the Purchaser to the SellerServicer, and the Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall execute such documents as shall be necessary to the prosecution of any such proceedings. Such servicing receipt shall obligate the Seller Servicer to return the related documents Loan File to the Purchaser Trustee (or, with respect to the Home Improvement Loans, the Custodian) when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Home Improvement Loan have been deposited in the Custodial Principal and Interest Account or the Loan 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, and the Seller Servicer has delivered to the Purchaser Trustee (and, with respect to the Home Improvement Loans, the Custodian) a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser Trustee (or, with respect to the SellerHome Improvement Loans, the Custodian) to the Servicer. The Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall execute upon request of the Servicer and delivery to the Trustee any court pleadings, requests for trustee's sale or other documents necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Obligor on the Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Note or Mortgage or otherwise available at law or in equity. Together with such documents or pleadings, the Servicer shall deliver to the Trustee (or, with respect to the Home Improvement Loans, the Custodian) a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee (or with respect to the Home Improvement Loans, the Custodian) and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee (or, with respect to the Home Improvement Loans, the Custodian) will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale. The Trustee (or, with respect to the Home Improvement Loans, the Custodian) shall, upon receipt of a written request from a Servicing Officer, execute any document provided to the Trustee (or, with respect to the Home Improvement Loans, the Custodian) by the Servicer or take any other action requested in such request, that is, in the opinion of the Servicer as evidenced by such request, required by any state or other jurisdiction to discharge the lien of a Mortgage upon the satisfaction thereof and the Trustee (or with respect to the Home Improvement Loans, the Custodian) will sign and post, but will not guarantee receipt of, any such documents to the Servicer, or such other party as the Servicer may direct, within five Business Days of the Trustee's (or with respect to the Home Improvement Loans, the Custodian's) receipt of such certificate or documents. Such certificate or documents shall establish to the Trustee's (or with respect to the Home Improvement Loans, the Custodian's) satisfaction that the related Loan has been paid in full by or on behalf of the Obligor and that such payment has been deposited in the Principal and Interest Account.

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller will immediately notify the Purchaser by a certification of a servicing officer of the Seller (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 11.04 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s designee. Upon receipt of such certification and request, the Purchaser, shall promptly release the related loan documents to the Seller and the Seller shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Purchaser. In the event the Seller Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser may have under the loan mortgage instruments, the SellerServicer, upon written demand, shall remit to the Purchaser the then outstanding principal balance of the related Existing Loan by deposit thereof in the Custodial Collection Account. The Seller shall maintain the fidelity bond insuring the Seller against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for in connection with the servicing servicing, assignment to the FHA, foreclosure or foreclosure other enforcement of the an Existing Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser shall, upon request of the Seller Servicer and delivery to the Purchaser of a servicing receipt signed by a servicing officer of the Servicer (a "Servicing Officer"), release the requested portion of the Loan File held by the Purchaser to the SellerServicer, together with any assignments necessary to enable the Servicer to perform its obligations. Such servicing receipt shall obligate the Seller Servicer to return the related documents Loan Documents to the Purchaser when the need therefor by the Seller Servicer no longer exists, unless (a) the Existing Loan has been liquidated and the Liquidation Proceeds relating to the Existing Loan have been deposited in the Custodial Account Collection Account, or (b) the Loan File or such document has been delivered to (i) the FHA in connection with an assignment of the Existing Loan to the FHA and collection of FHA Insurance Proceeds, or (ii) 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 to collect amounts due under the Existing Loan (if such Existing Loan is not a Mortgage Loan), or (iii) with respect to a Mortgage Loan, an attorney or a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or proceedings for the foreclosure of the Mortgaged Improved Property either judicially or non-judicially, and the Seller Servicer has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Existing Loan was liquidated, or the FHA Insurance Proceeds received, the servicing receipt shall be released returned by the Purchaser to the SellerServicer.

Satisfaction of Mortgages and Release of Loan Files. Upon the payment in full of any Loan, or the receipt by the Seller Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicer will immediately notify the Purchaser Issuer and the Noteholder Agent by a certification of a servicing officer of the Seller Servicer (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Collection Account pursuant to Section 11.04 5.01 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Loan and delivery to it of the portion of the Loan File held by the Purchaser or the Purchaser’s designeeCustodian. Upon receipt of such certification a Request for Release and requestReceipt (as defined in the Custodial Agreement), the Purchaser, Custodian shall promptly release the related loan mortgage documents to the Seller Servicer in accordance with the Custodial Agreement and the Seller Servicer shall prepare and process any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account or the PurchaserIssuer. In the event the Seller Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Purchaser Issuer or the Noteholders may have under the loan mortgage instruments, the SellerServicer, upon written demand, shall remit to the Purchaser Issuer the then outstanding principal balance of the related Loan by deposit thereof in the Custodial Collection Account. The Seller Servicer shall maintain the fidelity bond insuring the Seller Servicer against any loss it may sustain with respect to any Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Loan, including for this purpose collection under any Primary Insurance Policy or LPMI Policy, the Purchaser Custodian shall, upon request of the Seller Servicer and delivery to the Purchaser Custodian of a servicing receipt signed by a Servicing Officer, release the requested portion of the Loan File held by the Purchaser Custodian to the SellerServicer. Such servicing receipt shall obligate the Seller Servicer to return the related Mortgage documents to the Purchaser Custodian when the need therefor by the Seller Servicer no longer exists, unless the Loan has been liquidated and the Liquidation Proceeds relating to the Loan have been deposited in the Custodial Collection Account or the Loan 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-non judicially, and the Seller Servicer has delivered to the Purchaser Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Loan was liquidated, the servicing receipt shall be released by the Purchaser Custodian to the SellerServicer.