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

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Seller shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage 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 obtain immediately notify the Purchaser by a certification, 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 4.04 have been or will be so deposited, of a Servicing Officer and shall request delivery to it of the portion of the Mortgage File that is in held by the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this AgreementPurchaser. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not shall no later than five (5) Business Days after receipt of such certification and request, release or cause to be released to the Seller, the related Mortgage Loan Documents and, upon its receipt of such documents, the Seller shall promptly prepare and deliver to the Purchaser the requisite satisfaction or release. No later than three (3) Business Days following its receipt of such satisfaction or release, the Purchaser shall deliver, or cause to be delivered, to the Seller the release or satisfaction properly executed by the owner of record of the applicable Mortgage or its duly appointed attorney in fact. If such Mortgage Loan is a notice MERS Mortgage Loan, the Seller is authorized to cause the removal from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by registration on the Seller, in trust, for the purpose MERS System of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to execute and deliver, on behalf of the extent provided under Purchaser, any applicable federal and all instruments of satisfaction or state lawcancellation or of partial or full release. In the event the Seller grants a satisfaction satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the Mortgage Loan Documents, the Seller Seller, upon written demand, shall remit within two (2) Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure From time to time and as appropriate for the servicing or foreclosure of the Mortgage Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, the Purchaser shall, upon request of the Seller against any loss it may sustain with respect and delivery to any the Purchaser of a servicing receipt signed by a Servicing Officer, release the portion of the Mortgage File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return such Mortgage Loan not satisfied Documents to the Purchaser when the need therefor by the Seller no longer exists, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in accordance with the procedures set forth hereinCustodial Account or the Mortgage File 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 Mortgage File was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) Servicer the original Mortgage Note for any Mortgage Loan not later than five three (53) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled cancelled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In If the event Mortgage has been recorded in the Seller name of MERS or its designee, the Servicer shall take all necessary action to effect the release of the Mortgage Loan on the records of MERS. If the Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should the Servicer otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Servicer, upon written demand of the Purchaser, shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage Loan, the Servicer will immediately notify the Purchaser by a certification of 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 receipt Collection Account pursuant to Section 5.04 have been or will be so deposited and shall request delivery to it of the Purchaser’s Mortgage File held by the Seller Purchaser. Upon receipt of a notification that payment in full will be escrowed in a manner customary for such purposescertification and request, the Seller will obtain Purchaser shall promptly release the portion of related mortgage documents to the Mortgage File that is in Servicer and the possession of the Purchaser or its designee, Servicer shall promptly prepare and process any required satisfaction or release release. No expense incurred in connection with any instrument of the Mortgage and notify the Purchaser in accordance with the provisions satisfaction or deed of this Agreement. The Purchaser agrees to deliver reconveyance shall be chargeable to the Seller (Collection Account. If the Servicer satisfies or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller grants a satisfaction or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, or should it otherwise take such action which results in a reduction of the Seller coverage under the Primary Insurance Policy, if any, then the Servicer shall remit promptly give written notice thereof to the Purchaser, and, within 10 Business Days following written demand therefor from the Purchaser to the Stated Principal Balance of Servicer, the Servicer shall repurchase the related Mortgage Loan by deposit thereof paying to the Purchaser the Repurchase Price therefor by wire transfer of immediately available funds directly to the Purchaser’s Account. From time to time and as appropriate for the servicing or foreclosure of the Mortgage Loan, including for this purpose collection under any Primary Insurance Policy, the Purchaser shall, upon request of the Servicer and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the Purchaser’s Mortgage File held by the Purchaser to the Servicer. Such servicing receipt shall obligate the Servicer to return the related mortgage documents to the Purchaser when the need therefor by the Servicer no longer exists, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial AccountCollection Account or the Purchaser’s Mortgage 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 nonjudicially, and the 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 Purchaser’s Mortgage File or such document was delivered and the purpose or purposes of such delivery. The Fidelity Bond shall insure the Seller against any loss it may sustain with respect to any Upon receipt of a certificate of a Servicing Officer stating that such Mortgage Loan not satisfied was liquidated and the Liquidation Proceeds were deposited in accordance with the procedures set forth hereinCollection Account, the servicing receipt shall be released by the Purchaser to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 will Servicer shall notify the Owner in the Monthly Remittance Advice as provided in Section 3.02, and may request the release of any Mortgage Loan Documents from the Owner in accordance with this Section 4.02 hereof. The Servicer shall obtain discharge of the portion related Mortgage Loan as of record within any related time limit required by applicable law; provided that the Owner has provided, or caused to be provided, all necessary documents requested by the Servicer. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage File that is in Loans, the possession of the Purchaser or its designee, prepare and process any required satisfaction or Servicer shall submit a request for release of documents and provide a receipt to the Mortgage and notify Custodian for the Purchaser originals of any documents set forth in accordance with the provisions of this Agreementsuch request for release. The Purchaser agrees to deliver Servicer shall forward a copy of any such request for release to the Seller (or cause to be delivered Owner. The Servicer shall return any document released by the Custodian pursuant to the Seller) the request for release. All original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note documents released to Servicer pursuant to this Section 4.02 shall be held by the Seller, Servicer in trust, trust for the purpose benefit of canceling such Mortgage Note and delivering the canceled Mortgage Note Owner. The Servicer shall return to the Mortgagor Custodian the original documents they received from the Custodian when the Servicer’s need therefore in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated. In such a timely manner as and case, upon receipt of an additional request for release certifying such liquidation from the Servicer to the extent provided under any applicable federal Custodian, the Servicer’s request for release submitted pursuant to the first sentence of this Section 4.02 shall be released by the Custodian to the Servicer, with a copy to the Owner. If the Servicer satisfies or state law. In the event the Seller grants a satisfaction or release of releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage (or such lesser amount in connection with a discounted payoff accepted by the Servicer with respect to a defaulted Mortgage Loan) or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instruments, if Servicer is unable to reasonably demonstrate that it will be able to cause the amount of the unpaid indebtedness to be reinstated and secured under the related Mortgage, or if the Seller shall remit Mortgagor becomes thirty (30) or more days delinquent following such erroneous release, regardless of Servicer’s ability to obtain reinstatement, upon the Purchaser the Stated Principal Balance Servicer’s receiving knowledge of such an event or upon written demand of the related Mortgage Loan by Owner, whichever is earlier, the Servicer shall deposit the amount of any shortfall thereof in the Custodial AccountAccount within 5 Business Days of receipt of such demand by the Owner. The Servicer shall be entitled to retain any reimbursement received from a Mortgagor in connection with such shortfall in the event the Servicer has previously reimbursed the Owner for such. The Servicer shall maintain the Fidelity Bond shall insure and Errors and Omissions Insurance Policy as provided for in Section 2.12 insuring the Seller 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 Mortgage Files. Upon the payment in full of any Non-Agency Mortgage 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 will obtain Servicer shall notify the portion of the Mortgage File that is Owner in the possession of Monthly Remittance Advice as provided in Section 5.02, and may request the Purchaser or its designee, prepare and process any required satisfaction or release of any Mortgage Loan Documents from the Mortgage and notify the Purchaser Owner in accordance with the provisions of this AgreementSection 4.19. The Purchaser agrees Servicer shall obtain discharge of the related Mortgage Loan as of record within any related time limit required by applicable law (unless prevented from complying as a result of the failure of the local recording office to deliver comply with its obligations on a timely basis). In connection with any instrument of satisfaction or deed of reconveyance with respect to a Non-Agency Mortgage Loan, the Servicer shall be entitled to a reconveyance fee. Such reconveyance fee shall only be reimbursable to the Seller (or cause to be delivered Servicer by the Owner to the Seller) extent the original Mortgage Note for any Mortgage Loan reconveyance fee is uncollectible from the related Mortgagor based on the terms of the security instrument or in the Servicer’s reasonable opinion that such fee is not later than allowable by statute. Upon receipt of such request, the Owner or its designee shall within five (5) Business Days following release or cause to be released the related Mortgage Loan Documents to Servicer and Servicer shall prepare and process any satisfaction or release. If the Owner or its designee or the Custodian does not release the related Mortgage Loan Documents to Servicer within five (5) Business Days of receipt of request to do so, Servicer may retain a notice from third party to complete the Seller reconveyance and charge the Owner the actual cost of services provided by such third party. Except as set forth in this paragraph, Servicer shall have no liability for third party delays that such a payment may result in full has been received assessed penalties. If the Servicer satisfies or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller grants a satisfaction or release of releases a Mortgage securing a Non-Agency Mortgage Loan without first having obtained payment in full of the indebtedness secured by the MortgageMortgage (or such lesser amount in connection with a discounted payoff accepted by the Servicer with respect to a defaulted Mortgage Loan) or should the Servicer otherwise prejudice any rights the Owner may have under the mortgage instruments, the Seller Servicer shall remit to deposit the Purchaser the Stated Principal Balance shortfall amount of the related Mortgage Loan by deposit thereof paid indebtedness in the Custodial AccountAccount (unless such shortfall is $500 or less, in which case no deposit shall be required) within five (5) Business Days of receipt of such demand by the Owner. The Servicer shall cause the Fidelity Bond shall and Errors and Omissions Insurance Policy required under Section 4.12 to insure the Seller Servicer against any loss it may sustain with respect to any Non-Agency Mortgage Loan not satisfied in accordance with the procedures set forth herein.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller Servicer (or cause to be delivered to the SellerServicer) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Seller Servicer shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage Loan, or Loan and deposit of such payment by Servicer into the receipt by the Seller of a notification that payment in full will be escrowed in a manner customary for such purposesCustodial Account pursuant to Section 4.04, the Seller will obtain Servicer shall execute any document necessary to satisfy the Mortgage Loan and request delivery to it of the portion of the Mortgage File that is in held by Owner or the possession Custodian. Upon receipt of such request, the Purchaser or its designee, related mortgage documents shall be released to the Servicer within seventy-two (72) hours and the Servicer shall prepare and process any required satisfaction or release release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or Owner. To the extent that Owner acts as its own custodian, from time to time and as appropriate for the servicing or foreclosure of the Mortgage Loan, including for this purpose collection under any Primary Mortgage Insurance Policy, Owner shall, upon request of the Servicer and notify delivery to Owner of a servicing receipt signed by a Servicing Officer, release the Purchaser in accordance with requested portion of the provisions of this AgreementMortgage File held by Owner to the Servicer. Owner shall promptly deliver the request to return the related Mortgage documents to the Custodian. The Purchaser agrees Servicer shall return the Mortgage documents to deliver Owner when the need therefor by the Servicer no longer exists, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Seller (Mortgage Loan have been deposited into the Custodial Account or cause to be the Mortgage 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 Seller) foreclosure of the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its Mortgaged Property either judicially or non-judicially. Upon receipt of a notice from the Seller certificate of a Servicing Officer stating that such a payment in full has been received or that a notification has been received that such a payment in full Mortgage Loan was liquidated, the servicing receipt shall be made. Such Mortgage Note shall be held released by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note Owner to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Seller shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinServicer.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain 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 Mortgage Loan and delivery to it the portion of the Mortgage File that is in the possession of held by the Purchaser or its the Purchaser's designee. Upon receipt of such certification and request, the Purchaser shall promptly release the related mortgage documents to the Seller and the Seller shall prepare and process any required satisfaction or release release. No expense incurred in connection with any instrument of the Mortgage and notify the Purchaser in accordance with the provisions satisfaction or deed of this Agreement. The Purchaser agrees to deliver reconveyance shall be chargeable to the Seller (Custodial Account or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawPurchaser. In the event the Seller grants a satisfaction satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Seller, upon written demand, shall remit to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond Seller shall insure maintain the fidelity bond insuring the Seller 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 the Mortgage Loan, including for this purpose collection under any Primary Insurance 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 Mortgage File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return the related Mortgage documents to the Purchaser when the need therefor by the Seller no longer exists, 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 Mortgage 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 Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain immediately notify the Purchaser by a certification of 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 4.04 have been or will be so deposited and shall request delivery to it of the portion of the Mortgage File that is in held by the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this AgreementPurchaser. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not shall no later than five (5) Business Days after receipt of such certification and request, release or cause to be released to the Seller, the related Mortgage Loan Documents and, upon its receipt of such documents, the Seller shall promptly prepare and deliver to the Purchaser and execute the requisite satisfaction or release. No later than three Business Days following its receipt of a notice from such satisfaction or release, the Purchaser shall deliver, or cause to be delivered, to the Seller that such a payment the release or satisfaction properly executed by the owner of record of the applicable Mortgage or its duly appointed attorney in full has been received fact. No expense incurred in connection with any instrument of satisfaction or that a notification has been received that such a payment in full deed of reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note chargeable to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawCustodial Account. In the event the Seller grants a satisfaction satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller shall remit within two (2) Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Seller shall maintain the Fidelity Bond shall insure and errors and omissions insurance insuring the Seller 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 the Mortgage Loan, including for the purpose of collection under any Primary Mortgage Insurance Policy, the Purchaser or its designee shall, upon request of the Seller and delivery to the Purchaser or its designee of a servicing receipt signed by a Servicing Officer, release the portion of the Mortgage File held by the Purchaser or its designee to the Seller. Such servicing receipt shall obligate the Seller to return the related Mortgage Loan Documents to the Purchaser or its designee when the need therefor by the Seller no longer exists, 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 Mortgage 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 Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain provide written notification to the Purchaser (or Purchaser’s designee) within three (3) days. Such notification shall state 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 4.04 have been or will be so deposited, of a Servicing Officer and shall request delivery to it of the portion of the Mortgage File that is in the possession of held by the Purchaser (or its Purchaser’s designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement). The Purchaser agrees to deliver to the Seller (or cause to be delivered to the SellerPurchaser’s designee) the original Mortgage Note for any Mortgage Loan not shall no later than five (5) Business Days following after receipt of such notification and request, release or cause to be released to the Seller, the related Mortgage Loan Documents and, upon its receipt of a notice from such documents, the Seller that such shall promptly prepare and execute (pursuant to a payment power of attorney or limited officer appointment to be provided by Purchaser upon request) by Seller the requisite satisfaction or release. No expense incurred in full has been received connection with any instrument of satisfaction or that a notification has been received that such a payment in full deed of reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note chargeable to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawCustodial Account. In the event the Seller grants a satisfaction satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Seller, upon written demand, shall remit within two (2) Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Seller shall maintain the Fidelity Bond shall insure and errors and omissions insurance insuring the Seller 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 the Mortgage Loan, including for the purpose of collection under any Primary Mortgage Insurance Policy, the Purchaser shall, upon request of the Seller and delivery to the Purchaser (or its designee) of a servicing receipt signed by a Servicing Officer, release the portion of the Mortgage File held by the Purchaser (or its designee) to the Seller. Such servicing receipt shall obligate the Seller to return the related Mortgage Loan Documents to the Purchaser (or its designee) when the need therefor by the Seller no longer exists, 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 Mortgage 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 (or its designee) a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser (or its designee) to the Seller.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser Owner or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser Owner in accordance with the provisions of this Agreement. The Purchaser Owner agrees to deliver to the Seller Servicer (or cause to be delivered to the SellerServicer) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or as otherwise permitted under this Agreement, the Seller Servicer shall remit to the Purchaser Owner the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial AccountAccount no later than the immediately following Remittance Date, unless the Servicer has cured its error prior to such Remittance Date. The Fidelity Bond In addition, the Servicer shall insure have the Seller against right, at its expense, to cure any loss it may sustain with respect to any such erroneous satisfaction or release and reinstate the Mortgage of record unless the related Mortgage Loan not satisfied has been included in accordance a Securitization Transaction. Upon such reinstatement, the Owner shall return any funds remitted by the Servicer related thereto unless the related Mortgage Loan has been included in a Securitization Transaction. At its option, upon remittance of the funds to the Owner by the Servicer, the Servicer may require the Owner to assign to the Servicer any rights, if any, the Owner may have with regard to the procedures set forth hereinMortgage to allow the Servicer to attempt to reinstate the Mortgage of record.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Seller Company of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Company will obtain immediately notify the Purchaser by a certification, 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 4.04 have been or will be so deposited, of a Servicing Officer and shall request delivery to it of the portion of the Mortgage File that is in held by the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this AgreementPurchaser. The Purchaser agrees to deliver to the Seller (shall no later than five Business Days after receipt of such certification and request, release or cause to be delivered released to the Seller) Company, the original Mortgage Note for any related Mortgage Loan not Documents and, upon its receipt of such documents, the Company shall promptly prepare and deliver to the Purchaser the requisite satisfaction or release. No later than five (5) Business Days following its receipt of a notice from such satisfaction or release, the Seller that such a payment Purchaser shall deliver, or cause to be delivered, to the Company the release or satisfaction properly executed by the owner of record of the applicable mortgage or its duly appointed attorney in full has been received fact. No expense incurred in connection with any instrument of satisfaction or that a notification has been received that such a payment in full deed of reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note chargeable to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawCustodial Account. In the event the Seller grants a satisfaction Company satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Company, upon written demand, shall remit within two (2) Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Company shall maintain the Fidelity Bond shall insure and errors and omissions insurance insuring the Seller Company 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 the Mortgage Loan, including for the purpose of collection under any Primary Mortgage Insurance Policy or Lender Primary Mortgage Insurance Policy, the Purchaser shall, upon request of the Company and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the portion of the Mortgage File held by the Purchaser to the Company. Such servicing receipt shall obligate the Company to return the related Mortgage documents to the Purchaser when the need therefor by the Company no longer exists, 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 Mortgage 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 Company has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Company.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain shall request execution of any document necessary to satisfy the Mortgage Loan and delivery to it of the portion of the Mortgage File that is in the possession of held by the Purchaser or its the Purchaser's designee. Upon receipt of such certification and request, the Purchaser, shall promptly release the related mortgage documents to the Seller and the Seller shall prepare and process any required satisfaction or release release. No expense incurred in connection with any instrument of the Mortgage and notify the Purchaser in accordance with the provisions satisfaction or deed of this Agreement. The Purchaser agrees to deliver reconveyance shall be chargeable to the Seller (Custodial Account or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawPurchaser. In the event the Seller grants a satisfaction satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Seller, upon written demand, shall remit to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond Seller shall insure maintain the fidelity bond insuring the Seller 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 any Mortgage 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 Mortgage Loan Documents held by the Purchaser or the Custodian to the Seller. Such servicing receipt shall obligate the Seller to return the related Mortgage documents to the Purchaser when the need therefor by the Seller no longer exists, 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 Mortgage 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 Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Seller Company of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Company will obtain immediately notify the Purchaser by a certification, 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 4.04 have been or will be so deposited, of a Servicing Officer and shall request delivery to it of the portion of the Mortgage File that is in held by the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this AgreementPurchaser. The Purchaser agrees to deliver to the Seller (shall no later than five Business Days after receipt of such certification and request, release or cause to be delivered released to the Seller) Company, the original Mortgage Note for any related Mortgage Loan not Documents and, upon its receipt of such documents, the Company shall promptly prepare and deliver to the Purchaser the requisite satisfaction or release. No later than five (5) Business Days following its receipt of a notice from such satisfaction or release, the Seller that such a payment Purchaser shall deliver, or cause to be delivered, to the Company the release or satisfaction properly executed by the owner of record of the applicable mortgage or its duly appointed attorney in full has been received fact. No expense incurred in connection with any instrument of satisfaction or that a notification has been received that such a payment in full deed of reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note chargeable to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawCustodial Account. In the event the Seller grants a satisfaction Company satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Company, upon written demand, shall remit within two (2) Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Company shall maintain the Fidelity Bond shall insure and errors and omissions insurance insuring the Seller Company 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 the Mortgage Loan, including for the purpose of collection under any Primary Mortgage Insurance Policy, the Purchaser shall, upon request of the Company and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the portion of the Mortgage File held by the Purchaser to the Company. Such servicing receipt shall obligate the Company to return the related Mortgage documents to the Purchaser when the need therefor by the Company no longer exists, 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 Mortgage 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 Company has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Company.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser or its designee agrees to deliver to the Seller (or cause to be delivered to the Seller) Servicer the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In If the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should the Servicer otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Servicer, upon written demand of the Purchaser, shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller Servicer (or cause to be delivered to the SellerServicer) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should the Servicer otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Servicer shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Seller Seller/Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Seller/Servicer will obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) /Servicer the original Mortgage Note for any Mortgage Loan not later than five three (53) Business Days following its receipt of a notice from the Seller Seller/Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller/Servicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Seller/Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage and should the Seller/Servicer otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Seller/Servicer, upon written demand of the Purchaser, shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller Seller/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 Mortgage Files. Upon the payment in full of any Mortgage 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 obtain shall notify the portion of the Mortgage File that is Purchaser in the possession of Monthly Remittance Advice as provided in Section 3.02, and may request the Purchaser or its designee, prepare and process any required satisfaction or release of the any Mortgage and notify Loan Documents from the Purchaser in accordance with this Section 4.02 hereof. Upon full satisfaction of the provisions of this Agreement. The Purchaser agrees to deliver to Mortgage Note, the Seller (or cause to be delivered to shall obtain discharge of the Seller) the original Mortgage Note for any related Mortgage Loan not later than five (5) Business Days following its receipt as of a notice from record within any related time limit required by applicable law. If the Seller that such a payment in full has been received satisfies or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller grants a satisfaction or release of releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage, upon written demand of the Purchaser, the Seller shall remit to the Purchaser the Stated Principal Balance of repurchase the related Mortgage Loan at the Repurchase Price by deposit thereof in the Custodial AccountAccount within two (2) Business Days of receipt of such demand by the Purchaser. Upon such repurchase, all funds maintained in the Escrow Account with respect to such repurchased Mortgage Loan shall be transferred to the Seller. The Seller shall maintain the Fidelity Bond shall insure and Errors and Omissions Insurance Policy as provided for in Section 2.12 insuring the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser or its designee in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) Servicer the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should the Servicer otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Servicer shall remit to the Purchaser or its designee the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Seller Company of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Company will obtain immediately notify the Purchaser by a certification, 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 4.04 have been or will be so deposited, of a Servicing Officer and shall request execution of any document necessary to satisfy the Mortgage Loan and delivery to it of the portion of the Mortgage File that is in the possession of held by the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller shall no later than five (5) Business Days after receipt of such certification and request, release or cause to be delivered released to the Seller) Company, the original Mortgage Note for any related Mortgage Loan not Documents and, upon its receipt of such documents, the Company shall promptly prepare and deliver to the Purchaser the requisite satisfaction or release. No later than five (5) Business Days following its receipt of a notice from such satisfaction or release, the Seller that such a payment Purchaser shall deliver, or cause to be delivered, to the Company the release or satisfaction properly executed by the owner of record of the applicable mortgage or its duly appointed attorney in full has been received fact. No expense incurred in connection with any instrument of satisfaction or that a notification has been received that such a payment in full deed of reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note chargeable to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawCustodial Account. In the event the Seller grants a satisfaction Company satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Company, upon written demand, shall remit within two (2) Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Company shall maintain the Fidelity Bond shall insure and errors and omissions insurance insuring the Seller Company 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 the Mortgage Loan, including for the purpose of collection under any Primary Mortgage Insurance Policy or Lender Primary Mortgage Insurance Policy, the Purchaser shall, upon request of the Company and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release the portion of the Mortgage File held by the Purchaser to the Company. Such servicing receipt shall obligate the Company to return the related Mortgage documents to the Purchaser when the need therefor by the Company no longer exists, 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 Mortgage 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 Company has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Company.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser Owner or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser Owner in accordance with the provisions of this Agreement. The Purchaser Owner agrees to deliver to the Seller Servicer (or cause to be delivered to the SellerServicer) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or as otherwise permitted under this Agreement, the Seller Servicer shall remit to the Purchaser Owner the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Seller Servicing Administrator of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Servicing Administrator will obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser or its designee in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) Servicing Administrator the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicing Administrator that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicing Administrator, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicing Administrator grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should the Servicing Administrator otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Servicing Administrator shall remit to the Purchaser or its designee the Stated Scheduled Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller Servicing Administrator 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 Mortgage Files. Upon the payment in full of any Mortgage Loan, or the receipt by the Seller Company of a notification that payment in full will be escrowed in a manner customary for such purposes, the Seller Company will obtain immediately notify the Purchaser, the Custodian and the Master Servicer by a certification, 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 8.07 have been or will be so deposited, of a Servicing Officer and shall request delivery to it of the portion of the Mortgage File that is in the possession of held by the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this AgreementCustodian. The Purchaser agrees to deliver to the Seller (shall no later than five Business Days after receipt of such certification and request, release or cause to be delivered released to the Seller) Company, the original Mortgage Note for any related Mortgage Loan not Documents and, upon its receipt of such documents, the Company shall promptly prepare and deliver to the Purchaser the requisite satisfaction or release. No later than five (5) Business Days following its receipt of a notice from such satisfaction or release, the Seller that such a payment Purchaser shall deliver, or cause to be delivered, to the Company the release or satisfaction properly executed by the owner of record of the applicable mortgage or its duly appointed attorney in full has been received fact. No expense incurred in connection with any instrument of satisfaction or that a notification has been received that such a payment in full deed of reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note chargeable to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawCustodial Account. In the event the Seller grants a satisfaction Company satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Company, upon written demand, shall remit within two (2) Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Company shall maintain the Fidelity Bond shall insure and errors and omissions insurance insuring the Seller Company 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 the Mortgage Loan, including for the purpose of collection under any Primary Mortgage Insurance Policy or Lender Primary Mortgage Insurance Policy, the Purchaser shall, upon request of the Company and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release or cause to be released the portion of the Mortgage File held by the Purchaser to the Company. Such servicing receipt shall obligate the Company to return the related Mortgage documents to the Purchaser when the need therefor by the Company no longer exists, 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 Mortgage 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 Company has delivered to the Purchaser a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Company.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain immediately notify the Purchaser, or its custodian or designee, 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 11.05 have been or will be so deposited, and shall request execution of any document necessary to satisfy the Mortgage Loan and delivery to it the portion of the Mortgage File that is in the possession of held by the Purchaser or the Purchaser’s designee. Upon receipt of such certification and request, the Purchaser, or its custodian or designee, shall promptly release, or cause to be released, the related mortgage documents to the Seller and the Seller shall prepare and process any required satisfaction or release release. No expense incurred in connection with any instrument of the Mortgage and notify the Purchaser in accordance with the provisions satisfaction or deed of this Agreement. The Purchaser agrees to deliver reconveyance shall be chargeable to the Seller (Custodial Account or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawPurchaser. In the event the Seller grants a satisfaction satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Seller, upon written demand, shall remit to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond Seller shall insure maintain the fidelity bond insuring the Seller 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 the Mortgage Loan, the Purchaser, or its custodian, shall, upon request of the Seller and delivery to the Purchaser of a servicing receipt signed by a Servicing Officer, release or cause to be released the requested portion of the Mortgage File held by the Purchaser, or its custodian, to the Seller. Such servicing receipt shall obligate the Seller to return the related Mortgage documents to the Purchaser or its designee when the need therefor by the Seller no longer exists, 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 Mortgage 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 Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser or its designee in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) Seller the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor Borrower in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should the Seller otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller shall remit to the Purchaser or its designee the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller Servicer (or cause to be delivered to the SellerServicer) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received [is this typical?] that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Seller Servicer shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan Servicer shall not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller grants grant a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, Mortgage or otherwise prejudice any right the Seller shall remit Noteholders may have under the mortgage instruments subject to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial AccountSection 5.01 above. The Servicer shall maintain the Fidelity Bond shall insure as provided for in Section 5.09 above insuring the Seller Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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 will immediately notify the Indenture Trustee (if it holds the related Trustee's Mortgage File) or the Custodian, as the case may be, by an Officers' Certificate in the form of Exhibit I 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 Principal and Interest Account pursuant to Section 5.03 above have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Trustee's Mortgage File. Upon receipt of such certification and request, the Indenture Trustee or such Custodian, as the case may be, shall promptly release the related Trustee's Mortgage File to the Servicer. 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 with respect to the related Group and shall not be chargeable to the related Principal and Interest Account or the related Note Distribution Account. With respect to any Mortgage Note released by the Indenture Trustee to the Servicer or to any Subservicer in accordance with the terms of this Agreement, other than a release or satisfaction pursuant to the second paragraph of this Section 7.02, prior to such release, the Indenture Trustee shall (a) complete all endorsements in blank so that the endorsement reads "Pay to the order of LaSalle Bank National Association, as Trustee under the Indenture, dated as of March 1, 2000, Series 2000-1" and (b) complete a restrictive endorsement that reads "LaSalle Bank National Association is the holder of the mortgage note for the benefit of the Noteholders under the Indenture, dated as of March 1, 2000, Series 2000-1" with respect to those Mortgage Notes currently endorsed "Pay to the order of holder", if any. From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, including, for this purpose, collection under any primary mortgage guaranty insurance policy, the Indenture Trustee shall, upon request of the Servicer and delivery to the Indenture Trustee of a certification in the form of Exhibit I attached hereto signed by a Servicing Officer, release the related Trustee's Mortgage File or any document therein to the Servicer, and the Indenture Trustee shall execute such documents as shall be necessary to the prosecution of any such proceedings. Such servicing receipt shall obligate the Servicer to return the Trustee's Mortgage File or any document released therefrom to the Indenture Trustee when the need therefor by the Servicer no longer exists, unless the Mortgage Loan has been liquidated and the Net Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Principal and Interest Account with respect to each Group, and remitted to the Indenture Trustee for deposit in the related Note Distribution Account or the Trustee's Mortgage 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 Servicer has delivered to the Indenture Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Trustee's Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Indenture Trustee to the Servicer. The Indenture Trustee shall execute and deliver to the Servicer any court pleadings, requests for trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor 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, or more promptly if needed, 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 Mortgage Loan has been paid in full by or on behalf of the Mortgagor and that such payment has been deposited in the Principal and Interest Account.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this AgreementMortgage. The Purchaser agrees to deliver to the Seller Servicer (or cause to be delivered to the SellerServicer) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage, the Seller Servicer shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage Files. Upon the payment in full of any Mortgage 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 obtain immediately notify the Purchaser by a certification, 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 4.04 have been or will be so deposited, of a Servicing Officer and shall request delivery to it of the portion of the Mortgage File that is in held by the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this AgreementPurchaser. The Purchaser agrees to deliver to the Seller (shall no later than five Business Days after receipt of such certification and request, release or cause to be delivered released to the-Seller, the related Mortgage Loan Documents and, upon its receipt of such documents, the Seller shall promptly prepare and execute (pursuant to a power of attorney or limited officer appointment to be provided by Purchaser to Seller) the original Mortgage Note for requisite satisfaction or release. No expense incurred in connection with any Mortgage Loan not later than five (5) Business Days following its receipt instrument of a notice from the Seller that such a payment in full has been received satisfaction or that a notification has been received that such a payment in full deed of reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note chargeable to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state lawCustodial Account. In the event the Seller grants a satisfaction satisfies or release of releases a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should it otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller Seller, upon written demand, shall remit within two Business Days to the Purchaser the Stated Principal Balance then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Seller shall maintain the Fidelity Bond shall insure and errors and omissions insurance insuring the Seller 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 the Mortgage Loan, including for the purpose of collection under any Primary Mortgage Insurance 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 portion of the Mortgage File held by the Purchaser to the Seller. Such servicing receipt shall obligate the Seller to return the related Mortgage documents to the Purchaser when the need therefor by the Seller no longer exists, 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 Mortgage 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 Mortgage 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 Mortgage Loan was liquidated, the servicing receipt shall be released by the Purchaser to the Seller.

Satisfaction of Mortgages and Release of Mortgage Files. Upon the payment in full of any Mortgage 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 obtain the portion of the Mortgage File that is in the possession of the Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller Servicer (or cause to be delivered to the SellerServicer) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller Servicer that such a payment in full has been received or that a notification has been received that such a payment in full shall be made. Such Mortgage Note shall be held by the SellerServicer, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as and to the extent provided under any applicable federal or state law. In the event the Seller Servicer grants a satisfaction or release of a Mortgage without having obtained payment in full of the indebtedness secured by the MortgageMortgage or should the Servicer otherwise prejudice any right the Purchaser may have under the mortgage instruments, the Seller 49 Servicer shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Fidelity Bond shall insure the Seller 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 Mortgage 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 Certificateholders may have under the mortgage instruments, subject to Section 5.01 hereof. The Servicer shall maintain the Fidelity Bond as provided for in Section 5.09 insuring the Servicer against any loss it may sustain with respect to any Home Improvement Loan not satisfied in accordance with the procedures set forth herein. Upon the payment in full of any Mortgage Home Improvement 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 obtain immediately notify the portion Co-Trustee and the Custodian by an Officers' Certificate in the form of Exhibit J 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 Principal and Interest Account pursuant to Section 5.03 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Trustee's Mortgage File. Upon receipt of such certification and request, the Co-Trustee and the Custodian shall promptly release the related Trustee's Mortgage File that is to the Servicer. Expenses incurred in the possession connection with any instrument of the Purchaser or its designee, prepare and process any required satisfaction or release deed of the Mortgage and notify the Purchaser in accordance with the provisions of this Agreement. The Purchaser agrees to deliver to the Seller (or cause to be delivered to the Seller) the original Mortgage Note for any Mortgage Loan not later than five (5) Business Days following its receipt of a notice from the Seller that such a payment in full has been received or that a notification has been received that such a payment in full reconveyance shall be made. Such Mortgage Note shall be held by the Seller, in trust, for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Mortgagor in a timely manner as payable only from and to the extent provided of servicing compensation and shall not be chargeable to the Principal and Interest Account or the Certificate Accounts. From time to time and as appropriate for the servicing or foreclosure of any Home Improvement Loan, including, for this purpose, collection under any applicable federal primary mortgage guaranty insurance policy, the Co-Trustee and the Custodian shall, upon request of the Servicer and delivery to the Co-Trustee and the Custodian of a certification in the form of Exhibit J attached hereto signed by a Servicing Officer, release the related Trustee's Mortgage File to the Servicer, and the Co-Trustee and the Custodian shall execute such documents as shall be necessary to the prosecution of any such proceedings. Such servicing receipt shall obligate the Servicer to return the Mortgage File to the Custodian when the need therefor by the Servicer no longer exists, unless the Home Improvement Loan has been liquidated and the Liquidation Proceeds relating to the Home Improvement Loan have been deposited in the Principal and Interest Account and remitted to the Trustee for deposit in the Certificate Account or the Mortgage 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 Servicer has delivered to the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage 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 Home Improvement Loan was liquidated, the servicing receipt shall be released by the Custodian to the Servicer. The Co-Trustee 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 Mortgagor 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 Co-Trustee 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 Co-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 Co-Trustee shall, upon receipt of a written request from a Servicing Officer, execute any document provided to the Co-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 law. In or other jurisdiction to discharge the event the Seller grants a satisfaction or release lien of a Mortgage without having obtained payment upon the satisfaction thereof and the Co-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 Co-Trustee's receipt of such certificate or documents. Such certificate or documents shall establish to the Co-Trustee's satisfaction that the related Home Improvement Loan has been paid in full by or on behalf of the indebtedness secured by the Mortgage, the Seller shall remit to the Purchaser the Stated Principal Balance of the related Mortgage Loan by deposit thereof Mortgagor and that such payment has been deposited in the Custodial Principal and Interest Account. The Fidelity Bond shall insure the Seller against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein.