Common use of The Mortgage Loans Clause in Contracts

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 Section 5.01. The Servicer 30 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Withdrawals from the Collection Account 36 Section 5.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance and Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.13. Realization Upon Defaulted Mortgage Loans 42 Section 5.14. Custodian to Cooperate; Release of Mortgage Files 43 Section 5.15. Servicing Compensation 44 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 48 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Section 5.20. [Reserved] 48 Section 5.21. [Reserved] 48 Section 5.22. Servicing and Administration of the MI Policies 48 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 Section 6.01. Deposits to the Payment Account 53 Section 6.02. Collection of Money 53 Section 6.03. Application of Principal and Interest 54 Section 6.04. [Reserved] 54 Section 6.05. [Reserved] 54

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 33 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 34 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 38 Section 5.11. Access to Certain Documentation 43 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.14. Custodian Reports to Cooperatethe Indenture Trustee; Release of Mortgage Files 43 Collection Account Statements 44 Section 5.15. Servicing Compensation 44 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 48 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved 47 Section 5.18. Delinquency Advances 47 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Indemnification; Third Party Claims 47 Section 5.20. [Reserved] Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 Section 5.21. [Reserved] Assignment of Agreement by Servicer; Servicer Not to Resign 48 Section 5.22. Servicing and Administration of the MI Policies Administrative Duties 48 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 49 Section 6.01. Deposits to the Payment Account 53 52 Section 6.02. Collection of Money 53 52 Section 6.03. Application of Principal and Interest 54 52 Section 6.04. [Reserved] 54 Reserved 52 Section 6.05. Compensating Interest 52 Section 6.06. [Reserved] 54Reserved 52 Section 7.01. Servicer Events of Default 53 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 27 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 30 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 31 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 32 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 33 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 34 Section 5.07. Indenture Trustee to Cooperate 35 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Assessments of Compliance and Attestation Reports 36 Section 5.10. Reports Filed with Securities and Exchange Commission 37 Section 5.11. Access to Certain Documentation 38 Section 5.12. Maintenance of Fidelity Bond 43 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 44 Section 5.14. Custodian Reports to Cooperatethe Indenture Trustee; Release of Mortgage Files 43 Collection Account Statements 44 Section 5.15. Servicing Compensation 44 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 45 Section 5.16. Reports to be Provided by the Servicer 45 Section 5.17. [Reserved] 46 Section 5.18. Delinquency Advances 48 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property Indemnification; Third Party Claims 48 Section 5.20. [Reserved] Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 48 Section 5.21. [Reserved] 48 Assignment of Agreement by Servicer; Servicer Not to Resign 49 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 49 Section 5.23. Determination Date Reports Administrative Duties 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 50 Section 6.01. Deposits to the Payment Account 53 54 Section 6.02. Collection of Money 53 54 Section 6.03. Application of Principal and Interest 54 Section 6.04. [Reserved] 54 Section 6.05. [Reserved] 54Compensating Interest 54 Section 6.06. Effect of Payments by the Note Insurer; Subrogation 55

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 Section 5.01. The Servicer 30 to Assure Servicing 31 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 34 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Withdrawals from the Collection Account 36 37 Section 5.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance and Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.13. Realization Upon Defaulted Mortgage Loans 42 Section 5.14. Custodian to Cooperate; Release of Mortgage Files 43 Section 5.15. Servicing Compensation 44 45 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 48 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Section 5.20. [Reserved] 48 Section 5.21. [Reserved] 48 49 Section 5.22. Servicing and Administration of the MI Policies 48 49 Section 5.23. Determination Date Reports 49 50 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 Section 6.01. Deposits to the Payment Account 53 54 Section 6.02. Collection of Money 53 54 Section 6.03. Application of Principal and Interest 54 Section 6.04. [Reserved] 54 Section 6.05. [Reserved] Compensating Interest 54 Section 6.06. Effect of Payments by the Note Insurer; Subrogation 54

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 19 Section 5.01. The Servicer 30 to Assure Servicing 35 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 36 Section 5.03. Successor Subservicers 33 37 Section 5.04. Liability of the Servicer 33 38 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 38 Section 5.06. Collection of Mortgage Loan Payments 34 39 Section 5.07. Withdrawals from the Collection Account 36 41 Section 5.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 43 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 43 Section 5.10. [Reserved] 39 44 Section 5.11. Maintenance of Hazard Insurance and Fidelity Coverage 39 44 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 46 Section 5.13. Realization Upon Defaulted Mortgage Loans 42 46 Section 5.14. Custodian to Cooperate; Release of Mortgage Files 43 48 Section 5.15. Servicing Compensation 44 49 Section 5.16. Annual Statements of Compliance 45 50 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Assessments of Compliance and Attestation Reports 50 Section 5.18. Reports Filed with Securities and Exchange Commission 51 Section 5.19. Optional Purchase of Defaulted Mortgage Loans 48 56 Section 5.195.20. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 57 Section 5.205.21. Optional Purchase of Mortgage Loans 57 Section 5.22. [Reserved] 48 57 Section 5.21. [Reserved] 48 Section 5.225.23. Servicing and Administration of the MI Policies 48 57 Section 5.235.24. Determination Date Reports 49 58 Section 5.245.25. Advances 50 59 Section 5.255.26. Compensating Interest Payments 51 59 Section 5.265.27. Advance Facility 51 60 Section 5.28. Servicer Rights Facility 62 Section 6.01. Deposits to the Payment Account 53 63 Section 6.02. Collection of Money 53 63 Section 6.03. Application of Principal and Interest 54 63 Section 6.047.01. [Reserved] 54 Liability of the Servicer and the Depositor 63 Section 6.057.02. [Reserved] 54Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or the Depositor 63 Section 7.03. Limitation on Liability of the Servicer and Others 64 Section 7.04. Servicer Not to Resign 64 Section 7.05. Delegation of Duties 65 Section 7.06. Servicing Rights Owner to Pay Trustee’s Fees and Expenses; Indemnification 65

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 17 Section 4.02. Purchase and Substitution 25 Section 5.01. The Master Servicer 30 27 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 30 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 31 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 32 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 34 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 35 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 36 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Master Servicer 37 Section 5.165.09. Annual Statements of Statement as to Compliance 45 37 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 37 Section 5.185.11. Access to Certain Documentation 38 Section 5.12. Maintenance of Fidelity Bond 38 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 38 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 39 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 40 Section 5.195.16. Information Required Reports to be Provided by the Internal Revenue Service Generally Master Servicer and Reports of Foreclosures and Abandonments of Mortgaged Property 48 the Backup Servicer 40 Section 5.205.17. [Reserved] 48 42 Section 5.18. Delinquency Advances 42 Section 5.19. Indemnification; Third Party Claims 43 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer and Backup Servicer 43 Section 5.21. [Reserved] 48 Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 44 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 44 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 Administrative Duties 45 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 46 Section 6.03. Application of Principal and Interest 54 46 Section 6.04. [Reserved] 54 46 Section 6.05. [Reserved] 54Compensating Interest 46 Section 6.06. Effect of Payments by the Note Insurer; Subrogation 47

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 17 Section 4.02. Purchase and Substitution 26 Section 5.01. The Master Servicer 30 27 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 30 Section 5.03. Successor Subservicers 33 Permitted Withdrawals from the Collection Account 32 Section 5.04. Liability of the Servicer Hazard Insurance Policies; Property Protection Expenses 33 Section 5.05. Assumption or Termination of Subservicing and Modification Agreements by the Indenture Trustee 33 34 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Withdrawals from the Collection Account 36 Section 5.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance and Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.13. Realization Upon Defaulted Mortgage Loans 42 35 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 36 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Master Servicer 37 Section 5.165.09. Annual Statements of Statement as to Compliance 45 37 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 38 Section 5.185.11. Access to Certain Documentation 38 Section 5.12. Maintenance of Fidelity Bond 38 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 38 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 40 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 40 Section 5.195.16. Information Required Reports to be Provided by the Internal Revenue Service Generally Master Servicer and Reports of Foreclosures and Abandonments of Mortgaged Property 48 the Backup Servicer 40 Section 5.205.17. [Reserved] 48 42 Section 5.18. Delinquency Advances 42 Section 5.19. Indemnification; Third Party Claims 43 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer and Backup Servicer 43 Section 5.21. [Reserved] 48 Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 43 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 44 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 Administrative Duties 45 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 46 Section 6.03. Application of Principal and Interest 54 46 Section 6.04. [Reserved] 54 46 Section 6.05. Compensating Interest 46 Section 6.06. [Reserved] 5447

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 33 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 33 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Annual Statement as to Compliance 36 Section 5.10. Assessments of Compliance and Attestation Reports 36 Section 5.11. Reports Filed with Securities and Exchange Commission 37 Section 5.12. Access to Certain Documentation 42 Section 5.13. Maintenance of Fidelity Bond 43 Section 5.14. Custodian to Cooperate; Release of Mortgage Files Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.15. Servicing Compensation Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 48 44 Section 5.17. Reports to be Provided by the Servicer 45 Section 5.18. [Reserved 46 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Delinquency Advances 46 Section 5.20. [Reserved] 48 Indemnification; Third Party Claims 47 Section 5.21. [Reserved] 48 Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 47 Section 5.22. Servicing and Administration Assignment of the MI Policies 48 Agreement by Servicer; Servicer Not to Resign 47 Section 5.23. Determination Date Reports 49 [Reserved 48 Section 5.24. Advances 50 Administrative Duties 48 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 49 Section 6.01. Deposits to the Payment Account 53 51 Section 6.02. Collection of Money 53 51 Section 6.03. Application of Principal and Interest 54 51 Section 6.04. [Reserved] 54 Reserved 51 Section 6.05. [Reserved] 54Compensating Interest 52 Section 7.01. Servicer Events of Default 52 Section 7.02. Indenture Trustee to Act: Appointment of Successor 54 Section 7.03. Waiver of Defaults 57 Section 8.01. Termination 57 Section 8.02. Additional Termination Requirements 58 Section 8.03. Accounting Upon Termination of Servicer 59

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 31 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 32 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 33 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 34 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 35 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Servicer 36 Section 5.165.09. Annual Statements of Statement as to Compliance 45 36 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 37 Section 5.12. Maintenance of Fidelity Bond 37 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.16. Reports to be Provided by the Servicer 39 Section 5.17. [Reserved 40 Section 5.18. Delinquency Advances 40 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Indemnification; Third Party Claims 41 Section 5.20. [Reserved] 48 Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Servicer; Servicer Not to Resign 42 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 42 Section 5.23. Determination Date Reports 49 Administrative Duties 43 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 44 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 47 Section 6.03. Application of Principal and Interest 54 47 Section 6.04. [Reserved] 54 Reserved 47 Section 6.05. [Reserved] 54Compensating Interest 47

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 17 Section 4.02. Purchase and Substitution 25 Section 5.01. The Master Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 32 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 33 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 34 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Master Servicer 35 Section 5.165.09. Annual Statements of Statement as to Compliance 45 36 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 36 Section 5.12. Maintenance of Fidelity Bond 37 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.195.16. Information Required Reports to be Provided by the Internal Revenue Service Generally Master Servicer and Reports of Foreclosures and Abandonments of Mortgaged Property 48 the Backup Servicer 39 Section 5.205.17. [Reserved] 48 40 Section 5.18. Delinquency Advances 40 Section 5.19. Indemnification; Third Party Claims 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer and Backup Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 42 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 42 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 Section 6.01. Deposits to the Payment Account 53 Section 6.02. Collection of Money 53 Section 6.03. Application of Principal and Interest 54 Section 6.04. [Reserved] 54 Section 6.05. [Reserved] 54Administrative Duties 43

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 32 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 33 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 34 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Servicer 35 Section 5.165.09. Annual Statements of Statement as to Compliance 45 36 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 36 Section 5.12. Maintenance of Fidelity Bond 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.16. Reports to be Provided by the Servicer 38 Section 5.17. [Reserved 40 Section 5.18. Delinquency Advances 40 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Indemnification; Third Party Claims 40 Section 5.20. [Reserved] 48 Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Servicer; Servicer Not to Resign 41 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 41 Section 5.23. Determination Date Reports 49 Administrative Duties 43 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 43 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 46 Section 6.03. Application of Principal and Interest 54 46 Section 6.04. [Reserved] 54 Reserved 46 Section 6.05. Compensating Interest 46 Section 6.06. [Reserved] 54Reserved 47 Section 7.01. Servicer Events of Default 47 Section 7.02. Indenture Trustee to Act: Appointment of Successor 49 Section 7.03. Waiver of Defaults 52 Section 8.01. Termination 52 Section 8.02. Additional Termination Requirements 53 Section 8.03. Accounting Upon Termination of Servicer 53 Section 8.04. [Reserved 54 Section 10.01. Limitation on Liability 54 Section 10.02. Acts of Noteholders 55 Section 10.03. Amendment 55 Section 10.04. Recordation of Agreement 56 Section 10.05. Duration of Agreement 56 Section 10.06. Notices 56 Section 10.07. Severability of Provisions 57 Section 10.08. No Partnership 57 Section 10.09. Counterparts 57 Section 10.10. Successors and Assigns 57 Section 10.11. Headings 57 Section 10.12. No Petition 57 Section 10.13. Third Party Beneficiary 57 Section 10.14. Intent of the Parties 57 Section 10.15. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL 58 Schedule I Mortgage Loan Schedule Appendix I Defined Terms Exhibit A Contents of the Mortgage File Exhibit B Reserved Exhibit C Indenture Trustee’s Acknowledgement of Receipt Exhibit D Initial Certification of Indenture Trustee Exhibit E Final Certification of Indenture Trustee Exhibit F Request for Release of Documents Exhibit G AHL Officer’s Certificate SALE AND SERVICING AGREEMENT, dated as of , 20 (this “Agreement”), by and among ACCREDITED MORTGAGE LOAN REIT TRUST, a Maryland real estate investment trust, as seller (the “Seller”), ACCREDITED HOME LENDERS, INC., a California corporation, as sponsor (the “Sponsor”), ACCREDITED MORTGAGE LOAN TRUST 200 - , a Delaware statutory trust, as issuer (the “Trust”), ACCREDITED HOME LENDERS, INC., a California corporation, as servicer (the “Servicer”), and , a national banking association, as indenture trustee (the “Indenture Trustee”).

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 32 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 33 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 34 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Servicer 35 Section 5.165.09. Annual Statements of Statement as to Compliance 45 36 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 36 Section 5.12. Maintenance of Fidelity Bond 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.195.16. Information Required Reports to be Provided by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Servicer 39 Section 5.205.17. [Reserved] 48 40 Section 5.18. Delinquency Advances 40 Section 5.19. Indemnification; Third Party Claims 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Servicer; Servicer Not to Resign 41 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 42 Section 5.23. Determination Date Reports 49 Administrative Duties 43 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 44 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 46 Section 6.03. Application of Principal and Interest 54 47 Section 6.04. [Reserved] 54 47 Section 6.05. Compensating Interest 47 Section 6.06. [Reserved] 5447

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 33 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 34 Section 5.07. Indenture Trustee to Cooperate 34 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 36 Section 5.09. Annual Statement as to Compliance 36 Section 5.10. Assessments of Compliance and Attestation Reports 36 Section 5.11. Reports Filed with Securities and Exchange Commission 38 Section 5.12. Access to Certain Documentation 43 Section 5.13. Maintenance of Fidelity Bond 43 Section 5.14. Custodian to Cooperate; Release of Mortgage Files Subservicing Agreements Between the Servicer and Subservicer and Subservicers 43 Section 5.15. Servicing Compensation Reports to the Indenture Trustee; Collection Account Statements 44 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 48 44 Section 5.17. Reports to be Provided by the Servicer 45 Section 5.18. [Reserved 46 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Delinquency Advances 46 Section 5.20. [Reserved] 48 Indemnification; Third Party Claims 47 Section 5.21. [Reserved] 48 Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 47 Section 5.22. Servicing and Administration Assignment of the MI Policies Agreement by Servicer; Servicer Not to Resign 48 Section 5.23. Determination Date Reports 49 [Reserved 48 Section 5.24. Advances 50 Administrative Duties 48 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 49 Section 6.01. Deposits to the Payment Account 53 51 Section 6.02. Collection of Money 53 52 Section 6.03. Application of Principal and Interest 54 52 Section 6.04. [Reserved] 54 Reserved 52 Section 6.05. [Reserved] 54Compensating Interest 52 Section 7.01. Servicer Events of Default 52 Section 7.02. Indenture Trustee to Act: Appointment of Successor 55 Section 7.03. Waiver of Defaults 58

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 14 Section 5.01. The Servicer to Assure Servicing 30 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 31 Section 5.03. Successor Subservicers 33 32 Section 5.04. Liability of the Servicer 33 32 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Withdrawals from the Collection Account 36 Section 5.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 38 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance and Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.13. Realization Upon Defaulted Mortgage Loans 42 41 Section 5.14. Custodian to Cooperate; Release of Mortgage Files 43 Section 5.15. Servicing Compensation 44 Section 5.16. Annual Statements of Compliance 45 44 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Assessments of Compliance and Attestation Reports 45 Section 5.18. Reports Filed with Securities and Exchange Commission 46 Section 5.19. Optional Purchase of Defaulted Mortgage Loans 48 51 Section 5.195.20. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 51 Section 5.205.21. Optional Purchase of Mortgage Loans 52 Section 5.22. [Reserved] 48 52 Section 5.21. [Reserved] 48 Section 5.225.23. Servicing and Administration of the MI Policies 48 52 Section 5.235.24. Determination Date Reports 49 53 Section 5.245.25. Advances 50 54 Section 5.255.26. Compensating Interest Payments 51 54 Section 5.265.27. Advance Facility 51 54 Section 5.28. Servicer Rights Facility 57 Section 6.01. Deposits to the Payment Account 53 57 Section 6.02. Collection of Money 53 57 Section 6.03. Application of Principal and Interest 54 57 Section 6.047.01. [Reserved] 54 Liability of the Servicer and the Depositor 58 Section 6.057.02. [Reserved] 54Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or the Depositor 58 Section 7.03. Limitation on Liability of the Servicer and Others 58 Section 7.04. Servicer Not to Resign 59 Section 7.05. Delegation of Duties 59 Section 7.06. Servicer to Pay Trustee’s Fees and Expenses; Indemnification 59

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 24 Section 5.01. The Master Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 28 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 29 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 30 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 32 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 33 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 34 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Master Servicer 35 Section 5.165.09. Annual Statements of Statement as to Compliance 45 35 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 36 Section 5.12. Maintenance of Fidelity Bond 36 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 37 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.195.16. Information Required Reports to be Provided by the Internal Revenue Service Generally Master Servicer and Reports of Foreclosures and Abandonments of Mortgaged Property 48 the Backup Servicer 39 Section 5.205.17. [Reserved] 48 40 Section 5.18. Periodic Advances 40 Section 5.19. Indemnification; Third Party Claims 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer and Backup Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 42 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 42 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 Administrative Duties 43 Section 6.01. Deposits to the Payment Account 53 44 Section 6.02. Collection of Money 53 44 Section 6.03. Application of Principal and Interest 54 44 Section 6.04. [Reserved] 54 44 Section 6.05. [Reserved] 54Compensating Interest 44 Section 6.06. Effect of Payments by the Note Insurer; Subrogation 45

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 24 Section 5.01. The Master Servicer 30 25 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 27 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 29 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 30 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 31 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 32 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 33 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Master Servicer 34 Section 5.165.09. Annual Statements of Statement as to Compliance 45 35 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 35 Section 5.185.11. Access to Certain Documentation 35 Section 5.12. Maintenance of Fidelity Bond 35 Section 5.13. Subservicing Agreements Between the Master Servicer and Subservicer and Subservicers 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 37 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 37 Section 5.195.16. Information Required Reports to be Provided by the Internal Revenue Service Generally Master Servicer and Reports of Foreclosures and Abandonments of Mortgaged Property 48 the Backup Servicer 38 Section 5.205.17. [Reserved] 48 39 Section 5.18. Periodic Advances 39 Section 5.19. Indemnification; Third Party Claims 40 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Master Servicer and Backup Servicer 40 Section 5.21. [Reserved] 48 Assignment of Agreement by Master Servicer and Backup Servicer; Master Servicer and Backup Servicer Not to Resign 41 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 41 Section 5.23. Determination Date Reports 49 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 Administrative Duties 42 Section 6.01. Deposits to the Payment Account 53 43 Section 6.02. Collection of Money 53 43 Section 6.03. Application of Principal and Interest 54 43 Section 6.04. [Reserved] 54 43 Section 6.05. [Reserved] 54Compensating Interest 44 Section 6.06. Effect of Payments by the Note Insurer; Subrogation 44

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 32 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 33 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 34 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Servicer 35 Section 5.165.09. Annual Statements of Statement as to Compliance 45 36 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 36 Section 5.12. Maintenance of Fidelity Bond 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 36 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.16. Reports to be Provided by the Servicer 38 Section 5.17. [Reserved 40 Section 5.18. Delinquency Advances 40 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Indemnification; Third Party Claims 40 Section 5.20. [Reserved] 48 Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Servicer; Servicer Not to Resign 41 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 41 Section 5.23. Determination Date Reports 49 Administrative Duties 43 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 43 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 46 Section 6.03. Application of Principal and Interest 54 46 Section 6.04. [Reserved] 54 Reserved 46 Section 6.05. Compensating Interest 46 Section 6.06. [Reserved] 54Reserved 46

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 31 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 32 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 33 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 34 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 35 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Servicer 36 Section 5.165.09. Annual Statements of Statement as to Compliance 45 36 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 37 Section 5.12. Maintenance of Fidelity Bond 37 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.195.16. Information Required Reports to be Provided by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Servicer 39 Section 5.205.17. [Reserved] 48 40 Section 5.18. Delinquency Advances 40 Section 5.19. Indemnification; Third Party Claims 41 Section 5.20. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Servicer; Servicer Not to Resign 42 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 42 Section 5.23. Determination Date Reports 49 Administrative Duties 43 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 44 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 47 Section 6.03. Application of Principal and Interest 54 47 Section 6.04. [Reserved] 54 47 Section 6.05. [Reserved] Compensating Interest 47 Section 7.01. Servicer Events of Default 47 Section 7.02. Indenture Trustee to Act: Appointment of Successor 50 Section 7.03. Waiver of Defaults 53 Section 8.01. Termination 53 Section 8.02. Additional Termination Requirements 54 Section 8.03. Accounting Upon Termination of Servicer 54

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 19 Section 4.02. Purchase and Substitution 28 ARTICLE V ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 5.01. The Servicer 30 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 33 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 34 Section 5.04. Hazard Insurance Policies; Property Protection Expenses 35 Section 5.05. Assumption and Modification Agreements 36 Section 5.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance and Fidelity Coverage 39 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 37 Section 5.07. Indenture Trustee to Cooperate 38 Section 5.08. Servicing Compensation; Payment of Certain Expenses by Servicer 39 Section 5.09. Annual Statement as to Compliance 39 Section 5.10. Assessments of Compliance and Attestation Reports 40 Section 5.11. Reports Filed with Securities and Exchange Commission 41 Section 5.12. Access to Certain Documentation 46 Section 5.13. Maintenance of Fidelity Bond 46 Section 5.14. Custodian to Cooperate; Release of Mortgage Files 43 Subservicing Agreements Between the Servicer and Subservicer and Subservicers 46 Section 5.15. Servicing Compensation 44 Reports to the Indenture Trustee; Collection Account Statements 47 Section 5.16. Annual Statements of Compliance 45 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Section 5.18. Optional Purchase of Defaulted Mortgage Loans 48 Section 5.195.17. Information Required Reports to be Provided by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property Servicer 48 Section 5.205.18. [Reserved] 48 50 Section 5.19. Delinquency Advances 50 Section 5.20. Indemnification; Third Party Claims 50 Section 5.21. Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 51 Section 5.22. Assignment of Agreement by Servicer; Servicer Not to Resign 51 Section 5.23. [Reserved] 48 Section 5.22. Servicing and Administration of the MI Policies 48 Section 5.23. Determination Date Reports 49 51 Section 5.24. Advances 50 Administrative Duties 51 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 52 ARTICLE VI APPLICATION OF FUNDS Section 6.01. Deposits to the Payment Account 53 55 Section 6.02. Collection of Money 53 55 Section 6.03. Application of Principal and Interest 54 55 Section 6.04. [Reserved] 54 Reserved 55 Section 6.05. [Reserved] 54Compensating Interest 55

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 16 Section 4.02. Purchase and Substitution 25 Section 5.01. The Servicer 30 26 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 Collection of Certain Mortgage Loan Payments; Collection Account 29 Section 5.03. Successor Subservicers 33 Section 5.04. Liability of the Servicer 33 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 Section 5.06. Collection of Mortgage Loan Payments 34 Section 5.07. Permitted Withdrawals from the Collection Account 36 30 Section 5.085.04. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 Section 5.10. [Reserved] 39 Section 5.11. Maintenance of Hazard Insurance Policies; Property Protection Expenses 31 Section 5.05. Assumption and Fidelity Coverage 39 Modification Agreements 32 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 Section 5.135.06. Realization Upon Defaulted Mortgage Loans 42 33 Section 5.145.07. Custodian Indenture Trustee to Cooperate; Release of Mortgage Files 43 Cooperate 34 Section 5.155.08. Servicing Compensation 44 Compensation; Payment of Certain Expenses by Servicer 35 Section 5.165.09. Annual Statements of Statement as to Compliance 45 36 Section 5.175.10. Annual Independent Public Accountants’ Servicing Report 47 36 Section 5.185.11. Access to Certain Documentation 36 Section 5.12. Maintenance of Fidelity Bond 36 Section 5.13. Subservicing Agreements Between the Servicer and Subservicer and Subservicers 37 Section 5.14. Reports to the Indenture Trustee; Collection Account Statements 38 Section 5.15. Optional Purchase of Defaulted Mortgage Loans 48 38 Section 5.16. Reports to be Provided by the Servicer 39 Section 5.17. [Reserved.] 40 Section 5.18. Delinquency Advances 40 Section 5.19. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 Indemnification; Third Party Claims 41 Section 5.20. [Reserved] 48 Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer 41 Section 5.21. [Reserved] 48 Assignment of Agreement by Servicer; Servicer Not to Resign 41 Section 5.22. Servicing Periodic Filings with the Securities and Administration of the MI Policies 48 Exchange Commission Additional Information 42 Section 5.23. Determination Date Reports 49 Administrative Duties 43 Section 5.24. Advances 50 Section 5.25. Compensating Interest Payments 51 Section 5.26. Advance Facility 51 44 Section 6.01. Deposits to the Payment Account 53 46 Section 6.02. Collection of Money 53 46 Section 6.03. Application of Principal and Interest 54 47 Section 6.04. [Reserved.] 54 47 Section 6.05. Compensating Interest 47 Section 6.06. [Reserved.] 5447

The Mortgage Loans. Section 4.01. Representations and Warranties Concerning the Mortgage Loans 15 19 Section 5.01. The Servicer 30 to Assure Servicing 35 Section 5.02. Subservicing Agreements Between Servicer and Subservicers 32 36 Section 5.03. Successor Subservicers 33 37 Section 5.04. Liability of the Servicer 33 37 Section 5.05. Assumption or Termination of Subservicing Agreements by the Indenture Trustee 33 38 Section 5.06. Collection of Mortgage Loan Payments 34 39 Section 5.07. Withdrawals from the Collection Account 36 41 Section 5.08. Collection of Taxes, Assessments and Similar Items; Servicing Accounts 38 43 Section 5.09. Access to Certain Documentation and Information Regarding the Mortgage Loans 39 43 Section 5.10. [Reserved] 39 44 Section 5.11. Maintenance of Hazard Insurance and Fidelity Coverage 39 44 Section 5.12. Due-on-Sale Clauses; Assumption Agreements 41 46 Section 5.13. Realization Upon Defaulted Mortgage Loans 42 46 Section 5.14. Custodian to Cooperate; Release of Mortgage Files 43 48 Section 5.15. Servicing Compensation 44 49 Section 5.16. Annual Statements of Compliance 45 49 Section 5.17. Annual Independent Public Accountants’ Servicing Report 47 Assessments of Compliance and Attestation Reports 50 Section 5.18. Reports Filed with Securities and Exchange Commission 51 Section 5.19. Optional Purchase of Defaulted Mortgage Loans 48 56 Section 5.195.20. Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property 48 56 Section 5.205.21. Optional Purchase of Mortgage Loans 57 Section 5.22. [Reserved] 48 57 Section 5.21. [Reserved] 48 Section 5.225.23. Servicing and Administration of the MI Policies 48 57 Section 5.235.24. Determination Date Reports 49 58 Section 5.245.25. Advances 50 58 Section 5.255.26. Compensating Interest Payments 51 59 Section 5.265.27. Advance Facility 51 59 Section 5.28. Servicer Rights Facility 62 Section 6.01. Deposits to the Payment Account 53 62 Section 6.02. Collection of Money 53 62 Section 6.03. Application of Principal and Interest 54 63 Section 6.047.01. [Reserved] 54 Liability of the Servicer and the Depositor 63 Section 6.057.02. [Reserved] 54Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or the Depositor 63 Section 7.03. Limitation on Liability of the Servicer and Others 63 Section 7.04. Servicer Not to Resign 64 Section 7.05. Delegation of Duties 64 Section 7.06. Servicing Rights Owner to Pay Trustee’s Fees and Expenses; Indemnification 64