Servicer to Service Mortgage Loans. For and on behalf of the Certificateholders, the Servicer shall service and administer the Mortgage Loans, all in accordance with the terms of this Agreement, Customary Servicing Procedures, applicable law and the terms of the Mortgage Notes and Mortgages. In connection with such servicing and administration, the Servicer shall have full power and authority, acting alone and/or through Subservicers as provided in Section 3.02, to do or cause to be done any and all things that it may deem necessary or desirable in connection with such servicing and administration including, but not limited to, the power and authority, subject to the terms hereof, (a) to execute and deliver, on behalf of the Certificateholders and the Trustee, customary consents or waivers and other instruments and documents, (b) to consent, with respect to the Mortgage Loans it services, to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Agreement), (c) to collect any Insurance Proceeds and other Liquidation Proceeds relating to the Mortgage Loans it services, and (d) to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan it services. The Servicer shall represent and protect the interests of the Trust in the same manner as it protects its own interests in mortgage loans in its own portfolio in any claim, proceeding or litigation regarding a Mortgage Loan and shall not make or permit any modification, waiver or amendment of any term of any Mortgage Loan, except as provided pursuant to Section 3.21. Without limiting the generality of the foregoing, the Servicer, in its own name or in the name of any Subservicer or the Depositor and the Trustee, is hereby authorized and empowered by the Depositor and the Trustee, when the Servicer or any Subservicer, as the case may be, believes it appropriate in its reasonable judgment, to execute and deliver, on behalf of the Trustee, the Depositor, the Certificateholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Mortgage Loans it services, and with respect to the related Mortgaged Properties held for the benefit of the Certificateholders. The Servicer shall prepare and deliver to the Depositor and/or the Trustee such documents requiring execution and delivery by either or both of...
Servicer to Service Mortgage Loans. Section 3.02 Subservicing; Enforcement of the Obligations of Servicer.....
Servicer to Service Mortgage Loans. Section 3.02 Subservicing Agreements between the Servicer and Subservicers................................................ Section 3.03
Servicer to Service Mortgage Loans. (a) For and on behalf of the Certificateholders, the Servicer shall service and administer the Mortgage Loans in accordance with the terms of this Agreement and the respective Mortgage Loans and, to the extent consistent with such terms, in compliance with all applicable federal, state and local laws, and in the same manner in which it services and administers similar mortgage loans for its own portfolio, giving due consideration to customary and usual standards of practice of mortgage lenders and loan servicers administering similar mortgage loans but without regard to:
(i) any relationship that the Servicer, any Subservicer or any Affiliate of the Servicer or any Subservicer may have with the related Mortgagor;
(ii) the ownership or non-ownership of any Certificate by the Servicer or any Affiliate of the Servicer;
(iii) the Servicer's obligation to make P&I Advances or Servicing Advances; or
(iv) the Servicer's or any Subservicer's right to receive compensation for its services hereunder or with respect to any particular transaction. To the extent consistent with the foregoing, the Servicer shall seek to maximize the timely and complete recovery of principal and interest on the Mortgage Notes. Subject only to the above-described servicing standards and the terms of this Agreement and of the respective Mortgage Loans, the Servicer shall have full power and authority, acting alone or through Subservicers as provided in Section 3.02, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer in its own name, in the name of a Subservicer or in the name of the Trustee solely in its capacity as Trustee for the Trust, is hereby authorized and empowered when the Servicer believes it appropriate in its best judgment in accordance with the servicing standards set forth above, to execute and deliver any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Mortgage Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed-in-lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Trustee and in the name of the Trust. The Servicer shall service and administer the Mortgage Loans in accordance with applic...
Servicer to Service Mortgage Loans. 47 SECTION 3.02 Subservicing; Enforcement of the Obligations of Subservicers.................48 SECTION 3.03 [Reserved]...................................................................49 SECTION 3.04
Servicer to Service Mortgage Loans. 52 Section 3.02 [Reserved]..........................................................................
Servicer to Service Mortgage Loans. 60 Section 5.02. Sub-Servicing Agreements Between Servicer and Sub-Servicers; Enforcement of Sub-Servicer's Obligations........................................61 Section 5.03. Successor Sub-Servicers..........................................................62 Section 5.04. Liability of the Servicer........................................................62 Section 5.05. No Contractual Relationship Between Sub-Servicer and Trustee or Certificateholders...............................................................62 Section 5.06. Termination of Sub-Servicing Agreement...........................................62 Section 5.07. Collection of Mortgage Loan Payments.............................................63 Section 5.08. Establishment of Collection Account; Deposit in Collection Account...............63 Section 5.09. Permitted Withdrawals from the Collection Account..............................
Servicer to Service Mortgage Loans. 20 3.02. Servicing and Subservicing; Enforcement of the Obligations of Servicer................................................ 21 3.03. Rights of the Depositor and the Trustee in Respect of the Servicer................................................... 22 3.04. Master Servicer to Act as Servicer......................... 22 3.05. Collection of Mortgage Loan Payments; Collection Account; Certificate Account........................................ 23 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts................................................... 25 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans......................................... 26 3.08. Permitted Withdrawals from the Collection Account and Master Servicer Collection Account......................... 26 3.09. [RESERVED]................................................. 28 3.10.
Servicer to Service Mortgage Loans. 55 Section 3.02 [Reserved]...................................................55 Section 3.03 Rights of the Depositor and the Trustee in Respect of the Servicer.....................................................55 Section 3.04 [Reserved]...................................................56 Section 3.05 Trustee to Act as Servicer...................................56 Section 3.06 Collection of Mortgage Loan Payments; Servicing Accounts; Collection Account; Certificate Account; Distribution Account; Yield Maintenance Reserve Funds.....................56 Section 3.07 Collection of Taxes, Assessments and Similar Items; Escrow Accounts.....................................................60 Section 3.08 Access to Certain Documentation and Information Regarding the Mortgage Loans...........................................60 Section 3.09 Permitted Withdrawals from the Certificate Account, the Distribution Account and the Yield Maintenance Reserve Funds........................................................61 Section 3.10 Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies...........................................
Servicer to Service Mortgage Loans. Section 3.02 Subservicing; Enforcement of the Obligations of Servicer. Section 3.03 Fidelity Bond; Errors and Omissions Insurance............ Section 3.04
