Title, Conservation and Disposition of REO Property. This Section shall apply only to REO Properties acquired for the account of the Trust Fund, and shall not apply to any REO Property relating to a Mortgage Loan which was purchased or repurchased from the Trust Fund pursuant to any provision hereof. In the event that title to any such REO Property is acquired, the deed or certificate of sale shall be issued to the Trustee, or to its nominee, on behalf of the Certificateholders. The Master Servicer, on behalf of the Trust Fund, shall either sell any REO Property within two years after the Trust Fund acquires ownership of such REO Property for purposes of Section 86OG(a)(8) of the Code or, at the expense of the Trust Fund, request an extension of the two-year grace period, more than 60 days before the day on which the two-year grace period would otherwise expire, unless the Master Servicer has delivered to the Trustee an Opinion of Counsel, addressed to the Trustee and the Master Servicer, to the effect that the holding by the Trust Fund of such REO Property subsequent to two years after its acquisition will not result in the imposition on the Trust Fund of taxes on "prohibited transactions" thereof, as defined in Section 86OF of the Code, or cause the Trust Fund to fail to qualify as a REMIC under federal law at any time that any Certificates are outstanding. The Master Servicer shall manage, conserve, protect and operate each REO Property for the Certificateholders solely for the purpose of its prompt disposition and sale in a manner which does not cause such REO Property to fail to qualify as "foreclosure property" within the meaning of Section 86OG(a)(8) or result in the receipt by the Trust Fund of any "income from non- permitted assets" within the meaning of Section 86OF(a)(2)(B) of the Code or any "net income from foreclosure property" which is subject to taxation under the REMIC Provisions. Pursuant to its efforts to sell such REO Property, the Master Servicer shall either itself or through an agent selected by the Master Servicer protect and conserve such REO Property in the same manner and to such extent as is customary in the locality where such REO Property is located and may, incident to its conservation and protection of the interests of the Certificateholders, rent the same, or any part thereof, as the Master Servicer deems to be in the best interest of the Certificateholders for the period prior to the sale of such REO Property. The Master Servicer shall segregate and hold all funds collected ...

Title, Conservation and Disposition of REO Property. This Section shall apply only to REO Properties acquired for the account of REMIC 1 and shall not apply to any REO Property relating to a Mortgage Loan which was purchased or repurchased from REMIC 1 pursuant to Sections 2.02, 2.04 or 3.

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Title, Conservation and Disposition of REO Property. (a) This Section shall apply only to REO Properties acquired for the account of the Trustee and shall not apply to any REO Property relating to a Mortgage Loan which was purchased or repurchased from the Trustee pursuant to any provision hereof. In the event that title to any such REO Property is acquired, the applicable Servicer shall cause the deed or certificate of sale to be issued in the name of the Trustee, on behalf of the Certificateholders. Upon written request by the applicable Servicer, the Trustee shall provide such Servicer with a power of attorney prepared by such Servicer with respect to such REO Property. (b) Each Servicer shall manage, conserve, protect and operate each REO Property for the Trustee solely for the purpose of its prompt disposition and sale. Each Servicer, either itself or through an agent selected by such Servicer, shall manage, conserve, protect and operate the REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the REO Property is managed. Each Servicer shall attempt to sell the same (and may temporarily rent the same for a period not greater than one year, except as otherwise provided below) on such terms and conditions as such Servicer deems to be in the best interest of 119 the Trustee. The applicable Servicer shall notify the Trustee and the Securities Administrator from time to time as to the status of each REO Property. (c) [Reserved]. (d) [Reserved]. (e) Each Servicer shall segregate and hold all funds collected and received in connection with the operation of any REO Property separate and apart from its own funds and general assets and shall deposit such funds in the related Collection Account. (f) Each Servicer shall deposit net of reimbursement to such Servicer for any related outstanding P&I Advances, Servicing Advances and unpaid Servicing Fees provided in Section 3.11, or cause to be deposited, on a daily basis in the related Collection Account all revenues received with respect to the related REO Property and shall withdraw therefrom funds necessary for the proper operation, management and maintenance of the REO Property. (g) Each Servicer, upon an REO Disposition, shall be entitled to reimbursement for any related xxxxxxxxxxxx X&X Advances and Servicing Advances as well as any unpaid Servicing Fees from proceeds received in connection with the REO Disposition, as ...

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Title, Conservation and Disposition of REO Property. (a) This Section shall apply only to REO Properties acquired for the account of the [Trustee][Issuing Entity] and shall not apply to any REO Property relating to a Mortgage Loan which was purchased or repurchased from the [Trustee][Issuing Entity] pursuant to any provision hereof. In the event that title to any such REO Property is acquired, the applicable Servicer shall cause the deed or certificate of sale to be issued in the name of the [Trustee][Issuing Entity], on behalf of the Certificateholders, or the [Trustee][Issuing Entity]’s nominee. (b) Each Servicer shall manage, conserve, protect and operate each REO Property for the [Trustee][Issuing Entity] for the benefit of the Certificateholders solely for the purpose of its prompt disposition and sale. Each Servicer, either itself or through an agent selected by such Servicer, shall manage, conserve, protect and operate the REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the REO Property is managed. Each Servicer shall attempt to sell the same (and may temporarily rent the same for a period not greater than one year, except as otherwise provided below) on such terms and conditions as such Servicer deems to be in the best interest of the Master Servicer. Each Servicer shall notify the Master Servicer from time to time as to the status of each REO Property. (c) Each Servicer shall use its best efforts to dispose of the REO Property as soon as possible (subject to the Master Servicer’s right to veto any proposed sale of REO Property) and shall sell such REO Property in any event within three years after title has been taken to such REO Property, unless such Servicer determines, and gives an appropriate notice to the [Delaware] Trustee and the Master Servicer to such effect, that a longer period is necessary for the orderly liquidation of such REO Property. If a period longer than three years is permitted under the foregoing sentence and is necessary to sell any REO Property, such Servicer shall report monthly to the Securities Administrator and the Master Servicer as to the progress being made in selling such REO Property. Notwithstanding its veto rights, the [Delaware] Trustee has no obligation with respect to REO Dispositions. (d) Each Servicer shall segregate and hold all funds collected and received in connection with the operation of any REO Property se...

Title, Conservation and Disposition of REO Property. The Servicer shall manage, conserve, protect and operate each REO Property for the benefit of the Certificateholders solely for the purpose of its prompt disposition and sale. The Servicer, either itself or through an agent selected by the Servicer, shall manage, conserve, protect and operate the REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the REO Property is managed. The Servicer shall attempt to sell the same (and may temporarily rent the same for a period not greater than one year, except as otherwise provided below) on such terms and conditions as the Servicer deems to be in the best interest of the Certificateholders. The Servicer shall notify the Trustee monthly as to the status of each REO Property. The Servicer shall also maintain on each REO Property fire and hazard insurance with extended coverage in amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in the amount required above. The Servicer shall segregate and hold all funds collected and received in connection with the operation of any REO Property in the Collection Account. The Servicer shall deposit net of reimbursement to the Servicer for any related outstanding Servicing Advances, any related unreimbursed Monthly Advances and unpaid Servicing Fees provided in Section 5.06 hereof, or cause to be deposited, on a daily basis in the Collection Account all revenues received with respect to the related REO Property and shall withdraw therefrom funds necessary for the proper operation, management and maintenance of the REO Property. The Servicer, upon the liquidation of any REO Property, shall be entitled to reimbursement for any related unreimbursed Servicing Advances and any unreimbursed related Monthly Advances as well as any unpaid Servicing Fees from REO Proceeds received in connection with such sale, as further provided in Section 5.12.

Title, Conservation and Disposition of REO Property. (a) The Master Servicer shall maintain, protect, and insure any REO Property acquired pursuant to Section 3.08 hereof, on behalf of the Trust, in accordance with standard industry practice solely for the purpose of its prompt disposition and sale and with a view toward maximizing the amount of principal and interest recovered on

Title, Conservation and Disposition of REO Property. This Section shall apply only to REO Properties acquired for the account of any Trust Fund, and shall not apply to any REO Property relating to a Mortgage Loan which was purchased or repurchased from any Trust Fund pursuant to any provision hereof. In the event that title to any such REO Property is acquired, the deed or certificate of sale shall be issued to the Trustee, or to its nominee, on behalf of the Certificateholders of the applicable Series. The Master Servicer, on behalf of the applicable Trust Fund, shall either sell any REO Property on or before December 31 of the third calendar year following the calendar year in which such Trust Fund acquires ownership of such REO Property for purposes of Section 860G(a)(8) of the Code or, at the expense of such Trust Fund, request, more than 60 days before the day on which the three-year grace period would otherwise expire, an extension of the three-year grace period, unless the Master Servicer has delivered to the Trustee an Opinion of Counsel addressed to the Trustee and the Master Servicer, to the effect that the holding by such Trust Fund of such REO Property subsequent to such three year period will not result in the imposition of taxes on "prohibited transactions" thereof, as defined in Section 860F of the Code, or cause the Lower REMIC or the Upper REMIC to fail to qualify as a REMIC under the REMIC Provisions or comparable provisions of the laws of the any State at any time that any

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