Common use of Satisfaction of Mortgages and Release of Mortgage Loan Documents Clause in Contracts

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian, and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, such request is to be acknowledged by the Owner. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s 's option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days to the Owner the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing OfficerOfficer (and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, all as provided in acknowledged by the Custodial AgreementOwner), the Servicer may request the Custodian to shall release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Owner or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s 's option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit within one Business Day to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to shall release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Owner or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall, or shall promptly release or cause cause, the Custodian to promptly release release, in accordance with the terms of the Custodial Agreement, the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian Indenture Trustee with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the CustodianIndenture Trustee. Upon receipt of such certification and request, the Owner shall, or shall promptly release or cause the Custodian to promptly Indenture Trustee to, release in accordance with the terms of the related Trust Agreement, the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian Indenture Trustee of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial AgreementIndenture, the Servicer may request the Custodian Indenture Trustee to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian Indenture Trustee to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the CustodianIndenture Trustee, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian Indenture Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan M-2-27 Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall, or shall promptly release or cause cause, the Custodian to promptly release release, in accordance with the terms of the Custodial Agreement, the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request Officer for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a blanket power of attorney in the form attached hereto as Exhibit E delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage and is unable to reinstate such Mortgage promptly upon discovery of such improper satisfaction or release by the Servicer or notice by the Owner, or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. Notwithstanding the foregoing, if the Owner is adversely affected by the Servicer’s improper satisfaction or release of any Mortgage, the Servicer shall indemnify the Owner for any costs and expenses resulting therefrom. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, or the Servicer shall promptly notify the Custodian with receipt by Seller of a certification and request notification that payment in full will be escrowed in a manner customary for release by a Servicing Officersuch purposes, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of Seller will obtain the portion of the Mortgage Loan Documents held by that is in the Custodianpossession of Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify Purchaser or its designee in accordance with the provisions of this Agreement. Upon receipt of such certification and request, the Owner shall promptly release Purchaser agrees to deliver or cause to be delivered to Seller the Custodian to promptly release the related Mortgage Loan Documents for any such Mortgage Loan not later than three (3) Business Days following its receipt of a notice from 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. The Mortgage Note shall be held by Seller for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to the Servicer Mortgagor in a timely manner as and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any extent provided under applicable state law. If Seller grants a satisfaction or release. No expense incurred in connection with any instrument release of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or and should it Seller otherwise prejudice any right the Owner Purchaser may have under the mortgage instruments, the Servicer, upon written demand, Seller shall remit to Purchaser the Owner within two Business Days the then outstanding principal balance Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer shall insure 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, Servicer shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to shall release to the Servicer the that portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Owner or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Collection Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian, and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, such request is to be acknowledged by the Owner and Lender. Upon receipt of such certification and request, the Owner and Lender shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s 's option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner or Lender may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days to the Lender the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Collection Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinherein and in accordance with Accepted Servicing Practices. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing OfficerOfficer (and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, all as provided in acknowledged by the Custodial AgreementOwner and Lender), the Servicer may request the Custodian to shall release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Collection Account or such documents have 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 promptly delivered to the Owner or Owner, Lender and the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Owner, Lender and/or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian Administrative Borrower with a certification and request for release by a Servicing Officerrelease, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Mortgage Collection Account pursuant to Section SECTION 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian, and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, such request is to be acknowledged by the Agent. Upon receipt of such certification and request, the Owner Administrative Borrower and Agent shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner applicable Borrower or at the Owner’s such Borrower's option execute under the authority of a power of attorney delivered to the Servicer by the Owner such Borrower any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Mortgage Collection Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner applicable Borrower or the Secured Parties may have under the mortgage instruments, the Servicer, upon written demand, shall remit within two (2) Business Days to the Owner within two Business Days Administrative Borrower the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Mortgage Collection Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinherein and in accordance with Accepted Servicing Practices. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian Administrative Borrower of a servicing receipt signed by a Servicing OfficerOfficer (and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, all as provided in acknowledged by the Custodial AgreementAgent), and upon receipt of such servicing request, the Servicer may request Administrative Borrower and Agent shall promptly cause the Custodian to promptly release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Mortgage Collection Account or such documents have 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 promptly delivered to the Owner or Administrative Borrower, Agent and the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Administrative Borrower, Agent and/or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing OfficerOfficer in the form of Exhibit G attached hereto, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Protected Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and requestrequest by the Custodian, the Owner Trustee shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner Trustee or at the OwnerTrustee’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner Trustee any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Protected Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner Trust may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner Securities Administrator within two Business Days the then shortfall required to make payment in full on the outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Protected Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, or the Servicer shall promptly notify the Custodian with receipt by Seller of a certification and request notification that payment in full will be escrowed in a manner customary for release by a Servicing Officersuch purposes, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of Seller will obtain the portion of the Mortgage Loan Documents held by that is in the Custodianpossession of Purchaser or its designee, prepare and process any required satisfaction or release of the Mortgage and notify Purchaser or its designee in accordance with the provisions of this Agreement. Upon receipt of such certification and request, the Owner shall promptly release Purchaser agrees to deliver or cause to be delivered to Seller the Custodian to promptly release the related Mortgage Loan Documents for any Mortgage Loan not later than three (3) Business Days following its receipt of a notice from 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 File shall be held by Seller for the purpose of canceling such Mortgage Note and delivering the canceled Mortgage Note to Mortgagor in a timely manner as and to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute extent provided under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunderapplicable state law. In the event the Servicer satisfies Seller grants a satisfaction or releases release of a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or and should it Seller otherwise prejudice any right the Owner Purchaser may have under the mortgage instruments, the ServicerSeller, upon written demanddemand of Purchaser, shall remit to Purchaser the Owner within two Business Days the then outstanding principal balance Stated Principal Balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer shall insure 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall, or shall promptly cause the Subservicer to, immediately notify the Custodian with a certification and request for release in the form of Exhibit D by a Servicing Officer, which certification shall include (x) a statement to the effect that all amounts received in connection with such payment which that are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, deposited and (y) a request for delivery to the Servicer of or the portion Subservicer of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner Indenture Trustee shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer or the Subservicer and the Servicer or the Subservicer shall prepare and deliver for execution by the Owner Indenture Trustee or at the OwnerIndenture Trustee’s option at the Indenture Trustee’s expense execute under the authority of a power of attorney attorney, substantially in the form of Exhibit H hereto, delivered to the Servicer or the Subservicer by the Owner Indenture Trustee any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer or the Subservicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner Issuer or the Indenture Trustee may have under the mortgage instruments, the Servicer, upon written demand, shall remit remit, or shall cause the Subservicer to remit, to the Owner Master Servicer within two three (3) Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall, or shall cause the Subservicer to, maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer or the Subservicer 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to or the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer Subservicer may request the Custodian Custodian, as described in Section 3.07(a) of the Sale and Servicing Agreement pursuant to a request and certification in the form of Exhibit B to the Sale and Servicing Agreement, to release to the Servicer or the portion of Subservicer the related Mortgage Loan Documents held by the Custodian to Custodian. The Servicer or the Servicer. Such servicing receipt Subservicer shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, when the need therefor by the Servicer or the Subservicer no longer exists, unless (1) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account Account, in which case, upon receipt of another request pursuant to Section 3.07(a) of the Sale and Servicing Agreement, the Indenture Trustee or the Custodian shall release the Mortgage File to the Servicer or the Subservicer or (2) such documents have 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 or the Subservicer has promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which whom such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall, or shall promptly cause the Subservicer to, immediately notify the Custodian with a certification and request for release in the form of Exhibit D by a Servicing Officer, which certification shall include (a) a statement to the effect that all amounts received in connection with such payment which that are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, deposited and (b) a request for delivery to the Servicer of or the portion Subservicer of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner Indenture Trustee shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer or the Subservicer and the Servicer or the Subservicer shall prepare and deliver for execution by the Owner or Indenture Trustee or, at the OwnerIndenture Trustee’s option option, execute under the authority of a power of attorney attorney, substantially in the form of Exhibit H hereto, delivered to the Servicer or the Subservicer by the Owner Indenture Trustee any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer or the Subservicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner Issuing Entity or the Indenture Trustee may have under the mortgage instruments, the Servicer, upon written demand, shall remit remit, or shall cause the Subservicer to remit, to the Owner Master Servicer within two three (3) Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall, or shall cause the Subservicer to, maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer or the Subservicer 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to or the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer Subservicer may request the Custodian Custodian, as described in Section 3.07(a) of the Sale and Servicing Agreement pursuant to a request and certification in the form of Exhibit B to the Sale and Servicing Agreement, to release to the Servicer or the portion of Subservicer the related Mortgage Loan Documents held by the Custodian to Custodian. The Servicer or the Servicer. Such servicing receipt Subservicer shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, when the need therefor by the Servicer or the Subservicer no longer exists, unless (1) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account Account, in which case, upon receipt of another request pursuant to Section 3.07(a) of the Sale and Servicing Agreement, the Indenture Trustee or the Custodian shall release the Mortgage File to the Servicer or the Subservicer or (2) such documents have 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 or the Subservicer has promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which whom such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall, or shall promptly cause the Subservicer to, immediately notify the Custodian with a certification and request for release in the form of Exhibit D by a Servicing Officer, which certification shall include (a) a statement to the effect that all amounts received in connection with such payment which that are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, deposited and (b) a request for delivery to the Servicer of or the portion Subservicer of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner Indenture Trustee shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer or the Subservicer and the Servicer or the Subservicer shall prepare and deliver for execution by the Owner or Indenture Trustee or, at the OwnerIndenture Trustee’s option option, execute under the authority of a power of attorney attorney, substantially in the form of Exhibit H hereto, delivered to the Servicer or the Subservicer by the Owner Indenture Trustee any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer or the Subservicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner Issuer or the Indenture Trustee may have under the mortgage instruments, the Servicer, upon written demand, shall remit remit, or shall cause the Subservicer to remit, to the Owner Master Servicer within two three (3) Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall, or shall cause the Subservicer to, maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer or the Subservicer 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to or the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer Subservicer may request the Custodian Custodian, as described in Section 3.07(a) of the Sale and Servicing Agreement pursuant to a request and certification in the form of Exhibit B to the Sale and Servicing Agreement, to release to the Servicer or the portion of Subservicer the related Mortgage Loan Documents held by the Custodian to Custodian. The Servicer or the Servicer. Such servicing receipt Subservicer shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, when the need therefor by the Servicer or the Subservicer no longer exists, unless (1) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account Account, in which case, upon receipt of another request pursuant to Section 3.07(a) of the Sale and Servicing Agreement, the Indenture Trustee or the Custodian shall release the Mortgage File to the Servicer or the Subservicer or (2) such documents have 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 or the Subservicer has promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which whom such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release in the form of Exhibit D by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s 's option at the Owner's expense execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two three Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer in the form of Exhibit D and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall, or shall promptly cause the Subservicer to, immediately notify the Custodian with a certification and request for release in the form of Exhibit D by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of or the portion Subservicer of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner Indenture Trustee shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer or the Subservicer and the Servicer or the Subservicer shall prepare and deliver for execution by the Owner Indenture Trustee or at the OwnerIndenture Trustee’s option at the Indenture Trustee’s expense execute under the authority of a power of attorney delivered to the Servicer or the Subservicer by the Owner Indenture Trustee any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer or the Subservicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner Issuer or the Indenture Trustee may have under the mortgage instruments, the Servicer, upon written demand, shall remit remit, or shall cause the Subservicer to remit, to the Owner Master Servicer within two three Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall, or shall cause the Subservicer to, maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer or the Subservicer 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to or the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer Subservicer may request the Custodian Custodian, as described in Section 3.07(a) of the Sale and Servicing Agreement pursuant to a request and certification in the form of Exhibit B to the Sale and Servicing Agreement, to release to the Servicer or the portion of Subservicer the related Mortgage Loan Documents held by the Custodian to Custodian. The Servicer or the Servicer. Such servicing receipt Subservicer shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, when the need therefor by the Servicer or the Subservicer no longer exists, unless (1) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account Account, in which case, upon receipt of another request pursuant to Section 3.07(a) of the Sale and Servicing Agreement, the Indenture Trustee or the Custodian shall release the Mortgage File to the Servicer or the Subservicer or (2) such documents have 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 or the Subservicer has promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which whom such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian and the Owner with a certification and request for release by 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 a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, Servicer shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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 or LPMI Policy, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian and the Owner of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to and the Owner shall release to the Servicer the that portion of the Mortgage Loan Documents held by the Custodian and the Owner to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the CustodianCustodian and the 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 Mortgage Loan have been deposited in the Custodial Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Owner or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian and the Owner or its designee with a certification and request for release by a servicing officer of the Servicer (a “Servicing Officer”), which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been or will be so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner or its designee shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or its designee or at the Owner’s or its designee’s option execute under the authority of a power of attorney delivered to the Servicer by the Owner or its designee any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner or its designee may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days or its designee the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance fidelity bond insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. From time to time and as appropriate for the servicing or foreclosure of the Mortgage LoansLoan, including for the purpose of collection under any Primary Mortgage Insurance PolicyOwner or its designee shall, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian Owner or its designee of a servicing receipt signed by a Servicing Officer, all as provided in release or shall cause the Custodial Agreement, release of the Servicer may request the Custodian to release to the Servicer the requested portion of the Mortgage Loan Documents held by the Custodian Owner or its designee to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, Owner or its designee 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 Account or such documents have the related Mortgage Loan 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 promptly delivered to the Owner or the Custodian its designee a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage Loan Document or documents were 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 Owner or its designee to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall, or shall promptly cause the Subservicer to, immediately notify the Custodian with a certification and request for release in the form of Exhibit D by a Servicing Officer, which certification shall include (a) a statement to the effect that all amounts received in connection with such payment which that are required to be deposited in the Custodial Account pursuant to Section 4.04 hereof have been so deposited, deposited and (b) a request for delivery to the Servicer of or the portion Subservicer of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner Trustee shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer or the Subservicer and the Servicer or the Subservicer shall prepare and deliver for execution by the Owner or Trustee or, at the OwnerTrustee’s option option, execute under the authority of a power of attorney attorney, substantially in the form of Exhibit H hereto, delivered to the Servicer or the Subservicer by the Owner Trustee any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer or the Subservicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner Issuing Entity or the Trustee may have under the mortgage instruments, the Servicer, upon written demand, shall remit remit, or shall cause the Subservicer to remit, to the Owner Master Servicer within two three Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall, or shall cause the Subservicer to, maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer or the Subservicer 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to or the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer Subservicer may request the Custodian Custodian, as described in Section 3.07(a) of the Pooling and Servicing Agreement pursuant to a request and certification in the form of Exhibit B to the Pooling and Servicing Agreement, to release to the Servicer or the portion of Subservicer the related Mortgage Loan Documents held by the Custodian to Custodian. The Servicer or the Servicer. Such servicing receipt Subservicer, as the case may be, shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, when the need therefor by the Servicer or the Subservicer, as applicable, no longer exists, unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account Account, in which case, upon receipt of another request pursuant to Section 3.07(a) of the Pooling and Servicing Agreement, the Trustee or the Custodian shall release the Mortgage File to the Servicer or the Subservicer, as applicable, or (ii) such documents have 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 or the Subservicer, as the case may be, has promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which whom such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Collection Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian, and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, such request is to be acknowledged by the Owner and Lender. Upon receipt of such certification and request, the Owner and Lender shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s 's option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Collection Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner or Lender may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days to the Owner the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Collection Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth hereinherein and in accordance with Accepted Servicing Practices. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing OfficerOfficer (and unless the related Mortgage Loans are the subject of a Pass-Through Transfer, all as provided in acknowledged by the Custodial AgreementOwner and Lender), the Servicer may request the Custodian to shall release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Collection Account or such documents have 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 promptly delivered to the Owner or Owner, Lender and the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Owner, Lender and/or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release in the form of Exhibit D by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s 's option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit within one Business Day to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer in the form of EXHIBIT D and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to shall release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were 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 Owner or the Custodian, as applicable, to the Servicer.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly will immediately notify the Custodian with a certification and request for release by a Servicing Officer, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and request, the Owner shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer and the Servicer shall prepare and deliver for execution by the Owner or at the Owner’s 's option execute under the authority of a power of attorney delivered to the Servicer by the Owner any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner may have under the mortgage instruments, the Servicer, upon written demand, shall remit to the Owner within two Business Days the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. The Servicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein. 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, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.

Satisfaction of Mortgages and Release of Mortgage Loan Documents. Upon the payment in full of any Mortgage Loan, the Servicer shall promptly Subservicer will immediately notify the Custodian with a certification and request for release by a Servicing OfficerOfficer in the form of Exhibit I attached hereto, which certification shall include a statement to the effect that all amounts received in connection with such payment which are required to be deposited in the Custodial Protected Account pursuant to Section 4.04 have been so deposited, and a request for delivery to the Servicer of the portion Subservicer of the Mortgage Loan Documents held by the Custodian. Upon receipt of such certification and requestrequest by the Custodian, the Owner Company shall promptly release or cause the Custodian to promptly release the related Mortgage Loan Documents to the Servicer Subservicer and the Servicer Subservicer shall prepare and deliver for execution by the Owner Company or at the OwnerCompany’s option execute under the authority of a power of attorney delivered to the Servicer Subservicer by the Owner Company any satisfaction or release. No expense incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Protected Account. The Owner shall, give the Servicer a power of attorney for the limited purpose of permitting the Servicer to execute in the Owner’s name routine documents in connection with Mortgage Loan foreclosures, payoff and other similar purposes; provided, however, that any action by any such employee beyond the scope of his/her appointment shall be deemed a violation by the Servicer of its obligations hereunder. In the event the Servicer Subservicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Owner Company may have under the mortgage instruments, the ServicerSubservicer, upon written demand, shall remit to the Owner Company within two Business Days the then shortfall required to make payment in full on the outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Protected Account. The Servicer Subservicer shall maintain the Fidelity Bond and errors and omissions insurance insuring the Servicer Subservicer 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 Loans, including for the purpose of collection under any Primary Mortgage Insurance Policy, upon request of the Servicer and delivery (which delivery may be electronic) to the Custodian of a servicing receipt signed by a Servicing Officer, all as provided in the Custodial Agreement, the Servicer may request the Custodian to release to the Servicer the portion of the Mortgage Loan Documents held by the Custodian to the Servicer. Such servicing receipt shall obligate the Servicer to promptly return the related Mortgage Loan Documents to the Custodian, 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 Account or such documents have 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 promptly delivered to the Owner or the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such documents were delivered and the purpose or purposes of such delivery.