Common use of Transfer Notices Clause in Contracts

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (b) The Owner shall notify, or cause to be notified, all Insurers, by overnight or registered mail, that all insurance premium xxxxxxxx for the Mortgage Loans must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (c) The Owner, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Date. (d) The Owner shall notify all attorneys who, on the Effective Date, are providing legal services to or on behalf of the Owner in connection with pending foreclosure or litigation involving one or more of the Mortgage Loans, of the transfer of the servicing function with respect to the Mortgage Loans to the Servicer. (e) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (b) The Owner shall notify, or cause to be notified, all Insurers, by overnight or registered mail, that all insurance premium xxxxxxxx bxxxxxxx for the Mortgage Loans must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (c) The Owner, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Date. (d) The Owner shall notify all attorneys who, on the Effective Date, are providing legal services to or on behalf of the Owner in connection with pending foreclosure or litigation involving one or more of the Mortgage Loans, of the transfer of the servicing function with respect to the Mortgage Loans to the Servicer. (e) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen No less than thirty (30) days prior to any Servicing Transfer Date, Seller shall submit to Purchaser its proposed form of joint “Welcome Letter” and “Goodbye Letter” for review and comment. No later than five (5) Business Days after Purchaser’s receipt of the proposed joint “Welcome Letter” and “Goodbye Letter,” Purchaser shall provide any comments to Seller, and Seller shall consider such comments in good faith. No later than (15) days before the applicable Effective Date with respect each Servicing Transfer Date, Seller shall deliver to the Mortgage Loans, the Owner shall cause any required notices (each related Mortgagor such joint “Welcome Letter” and “Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner Letter” in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer InstructionsApplicable Requirements. The parties Seller and Purchaser shall cooperate share the costs of such mailing equally. Purchaser shall not contact any Mortgagors prior to accomplish such notification Servicing Transfer Date unless agreed to in a timely and efficient manner as will best facilitate the assumption writing by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailingSeller. (b) The Owner shall notifyWithin thirty (30) Business Days after each Servicing Transfer Date (or such earlier date as required under Applicable Requirements), or cause (i) Seller shall, in accordance with applicable Insurer requirements, provide written notice of the transfer to be notifiedany Insurer requiring such notice; provided, all Insurers, by overnight or registered mailhowever, that Seller may give aggregate notice whenever possible, and (ii) Seller shall notify related tax-bxxx services of the transfer. The form of all insurance premium xxxxxxxx for the Mortgage Loans must notices by Seller pursuant to this Section 7.03(b) shall be sent subject to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent review and reasonable approval of any Insurers that have the contractual right to approve the assumption of the servicing responsibilities by the ServicerPurchaser upon Purchaser’s request. (c) The OwnerIf required by an Investor, Purchaser may make one (1) post-Servicing Transfer Date ACH or other alternative form of withdrawal with respect to each Mortgagor under a Mortgage Loan owned by such Investor specified by Seller by a mutually agreed date, based on the reasonable assistance ACH information provided by Seller. Purchaser shall obtain a new authorization from each such Mortgagor in accordance with Applicable Requirements prior to making any ACH or other alternative forms of the Servicer, shall notify the applicable taxing authorities withdrawals other than such mutually agreed one (except as such is handled through the tax service company on any tax service contracts procured by the Servicer1) post-Servicing Transfer Date ACH or other alternative form of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills withdrawal. Notwithstanding anything to the Servicer contrary in any Transaction Documents, Purchaser acknowledges and agrees that Seller shall not be responsible for Purchaser’s compliance with Applicable Requirements in using such information for any post-Servicing Transfer Date ACH or other alternative form of withdrawal, or liable to Purchaser for any Losses resulting therefrom, provided that the applicable tax service provider, as the case may be, from and after the Effective DateACH information provided by Seller is accurate. (d) The Owner In connection with any Mortgage Loans subject to bankruptcy proceedings, Purchaser shall notify all attorneys whofile transfers of claims as required by Applicable Requirements, on the Effective Date, are providing legal services to or on behalf including Rule 3001(e) of the Owner Federal Rules of Bankruptcy Procedure; provided, that Seller shall promptly deliver to Purchaser (upon Purchaser’s request) any information and documentation that is reasonably necessary for Purchaser to comply with this Section 7.03(d); provided further, that, in connection the event Seller fails to deliver applicable proof of claim-related information (which information shall include accurate post-petition due date and proof of claim data) within forty-five (45) days following each applicable Servicing Transfer Date to Purchaser (whether or not requested thereby), Seller shall promptly reimburse Purchaser for any expense, not to exceed $50.00, per Mortgage Loan subject to bankruptcy proceedings incurred by Purchaser in complying with pending foreclosure or litigation involving one or more this Section 7.03(d) as a result of the Mortgage Loans, not receiving such proof of the transfer claim-related information. The form of the servicing function with respect all notices by Purchaser pursuant to this Section 7.03(d) shall be subject to the Mortgage Loans to the Servicerreview and reasonable approval of Seller upon Seller’s request. (e) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner Seller shall cause provide servicing transfer notices and any required other similar notices (“Goodbye Letters”) to the Mortgagors of as may be required under the transfer of Applicable Requirements, including the servicing function contemplated herein to be delivered to the MortgagorsFederal Real Estate Settlement Procedures Act codified § 2601 et seq. Such Goodbye Letters shall be prepared and delivered implemented by or on behalf of the Owner in accordance with applicable law and the Transfer InstructionsRegulation X, 24 C.F.R. Part 3500. Within fifteen (15) days following each Servicing Transfer Date, but not before the applicable Effective any such Servicing Transfer Date with respect unless agreed to the Mortgage Loansin writing by Seller, the Servicer Purchaser shall cause any required notices (deliver to each related Mortgagor a “Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer Welcome Letter” in accordance with applicable law the Applicable Requirements and at Purchaser’s own cost and expense. No less than three (3) weeks prior to such Servicing Transfer Date, each Party shall submit to the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The other Party its form of the such “Welcome Letter” or “Goodbye Letters Letter” for review and Hello Letters approval. Purchaser shall not contact any Mortgagors prior to be sent such Servicing Transfer Date unless agreed to Mortgagors shall be approved in writing by the Owner and the Servicer before mailingSeller. (b) The Owner shall notifyWithin thirty (30) days after each Servicing Transfer Date, or cause (i) the Seller shall, in accordance with applicable Insurer requirements, provide written notice of the transfer to be notifiedany Insurer requiring such notice; provided, all Insurers, by overnight or registered mailhowever, that the Seller may give aggregate notice whenever possible, and (ii) the Seller shall notify related tax-xxxx services of the transfer. The form of all insurance premium xxxxxxxx for notices by the Mortgage Loans must Seller pursuant to this Section 7.03(b) shall be sent subject to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption review and reasonable approval of the servicing responsibilities by the ServicerPurchaser upon Purchaser’s request. (c) The Owner, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured If required by the Servicer) of the assumption of the servicing responsibilities Investor, and mutually agreed by the Servicer and include instructions Parties, Purchaser may make one (1) post-Servicing Transfer Date ACH or other alternative form of withdrawal with respect to deliver all notices and tax bills each Mortgagor under a Mortgage Loan owned by such Investor specified by Seller by a mutually agreed date, based on the ACH information provided by Seller. Purchaser shall obtain a new authorization from each such Mortgagor in accordance with Applicable Requirements prior to making any ACH or other alternative forms of withdrawals other than such mutually agreed one (1) post-Servicing Transfer Date ACH or other alternative form of withdrawal. Notwithstanding anything to the Servicer contrary in any Transaction Documents, Purchaser acknowledges and agrees that Seller shall not be responsible for Purchaser’s compliance with Applicable Requirements in using such information for any post-Servicing Transfer Date ACH or the applicable tax service providerother alternative form of withdrawal, as the case may be, from and after the Effective Dateor liable to Purchaser for any Losses resulting therefrom. (d) The Owner In connection with any Mortgage Loans subject to bankruptcy proceedings, the Purchaser shall notify all attorneys whofile transfers of claims as required by Applicable Requirements, on the Effective Date, are providing legal services to or on behalf including Rule 3001(e) of the Owner Federal Rules of Bankruptcy Procedure; provided, that Seller shall promptly deliver to Purchaser (upon Purchaser’s request) any information and documentation that is reasonably necessary for Purchaser to comply with this Section 7.03(d); provided further, that, in connection the event Seller fails to deliver applicable proof of claim-related information (which information shall include accurate post-petition due date and proof of claim data) within thirty (30) days following each applicable Servicing Transfer Date to Purchaser (whether or not requested thereby), Seller shall promptly reimburse Purchaser for any expense in excess of $15.00, but no more than $50.00, per Mortgage Loan subject to bankruptcy proceedings incurred by Purchaser in complying with pending foreclosure or litigation involving one or more this Section 7.03(d) as a result of the Mortgage Loans, not receiving such proof of the transfer claim-related information. The form of the servicing function with respect all notices by Purchaser pursuant to this Section 7.03(d) shall be subject to the Mortgage Loans to the Servicerreview and reasonable approval of Seller upon Seller’s request. (e) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner Seller shall cause provide servicing transfer notices and any required other similar notices (“Goodbye Letters”) to the Mortgagors of as may be required under the transfer of Applicable Requirements, including the servicing function contemplated herein to be delivered to the MortgagorsFederal Real Estate Settlement Procedures Act codified § 2601 et seq. Such Goodbye Letters shall be prepared and delivered implemented by or on behalf of the Owner in accordance with applicable law and the Transfer InstructionsRegulation X, 24 C.F.R. Part 3500. Within fifteen (15) days following each Servicing Transfer Date, but not before the applicable Effective any such Servicing Transfer Date with respect unless agreed to the Mortgage Loansin writing by Seller, the Servicer Purchaser shall cause any required notices (deliver to each related Mortgagor a “Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer Welcome Letter” in accordance with applicable law the Applicable Requirements and at Purchaser’s own cost and expense. No less than three (3) weeks prior to such Servicing Transfer Date, each Party shall submit to the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The other Party its form of the such “Welcome Letter” or “Goodbye Letters Letter” for review and Hello Letters approval. Purchaser shall not contact any Mortgagors prior to be sent such Servicing Transfer Date unless agreed to Mortgagors shall be approved in writing by the Owner and the Servicer before mailingSeller. (b) The Owner shall notifyWithin thirty (30) days after each Servicing Transfer Date, or cause (i) the Seller shall, in accordance with applicable Insurer requirements, provide written notice of the transfer to be notifiedany Insurer requiring such notice; provided, all Insurers, by overnight or registered mailhowever, that the Seller may give aggregate notice whenever possible, and (ii) the Seller shall notify related tax-xxxx services of the transfer. The form of all insurance premium xxxxxxxx for notices by the Mortgage Loans must Seller pursuant to this Section 7.03(b) shall be sent subject to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption review and reasonable approval of the servicing responsibilities by the ServicerPurchaser upon Purchaser’s request. (c) The OwnerIf required by an Investor, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured and mutually agreed by the ServicerParties, Purchaser may make one (1) post-Servicing Transfer Date ACH or other alternative form of withdrawal with respect to each Mortgagor under a Mortgage Loan owned by such Investor specified by Seller by a mutually agreed date, based on the assumption ACH information provided by Seller. Purchaser shall obtain a new authorization from each such Mortgagor in accordance with Applicable Requirements prior to making any ACH or other alternative forms of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills withdrawals other than such mutually agreed one (1) post-Servicing Transfer Date ACH or other alternative form of withdrawal. Notwithstanding anything to the Servicer contrary in any Transaction Documents, Purchaser acknowledges and agrees that Seller shall not be responsible for Purchaser’s compliance with Applicable Requirements in using such information for any post-Servicing Transfer Date ACH or the applicable tax service providerother alternative form of withdrawal, as the case may be, from and after the Effective Dateor liable to Purchaser for any Losses resulting therefrom. (d) The Owner In connection with any Mortgage Loans subject to bankruptcy proceedings, the Purchaser shall notify all attorneys whofile transfers of claims as required by Applicable Requirements, on the Effective Date, are providing legal services to or on behalf including Rule 3001(e) of the Owner Federal Rules of Bankruptcy Procedure; provided, that Seller shall promptly deliver to Purchaser (upon Purchaser’s request) any information and documentation that is reasonably necessary for Purchaser to comply with this Section 7.03(d); provided further, that, in connection the event Seller fails to deliver applicable proof of claim-related information (which information shall include accurate post-petition due date and proof of claim data) within thirty (30) days following each applicable Servicing Transfer Date to Purchaser (whether or not requested thereby), Seller shall promptly reimburse Purchaser for any expense in excess of $15.00, but no more than $50.00, per Mortgage Loan subject to bankruptcy proceedings incurred by Purchaser in complying with pending foreclosure or litigation involving one or more this Section 7.03(d) as a result of the Mortgage Loans, not receiving such proof of the transfer claim-related information. The form of the servicing function with respect all notices by Purchaser pursuant to this Section 7.03(d) shall be subject to the Mortgage Loans to the Servicerreview and reasonable approval of Seller upon Seller’s request. (e) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen The Owner and the Servicer shall cooperatively (15) days before the applicable Effective Date with respect other than to the Mortgage Loansextent either party individually is subject to related requirements pursuant to applicable law, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in which case such party shall), in accordance with Applicable Requirements: (i) Provide or cause to be provided any notices to Borrowers of the transactions contemplated herein as required by applicable law and the Transfer Instructions. Within fifteen Applicable Requirements, including but not limited to, any transfer notice required by 24 C.F.R., Section 3500.21 (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer InstructionsRegulation X). The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (bii) The Owner shall notifyNotify, or cause to be notified, as applicable, all Insurersinsurers, by overnight or registered mail, that all insurance premium xxxxxxxx for bxxxxxxx related to the Mortgage Loans Assets must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Transfer Date, obtain or cause to be obtained the written consent of any Insurers insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (ciii) The OwnerNotify, with the reasonable assistance of the Serviceror cause to be notified, shall notify the applicable as applicable, taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Transfer Date. (div) The Owner shall notify Notify, or cause to be notified, as applicable, all attorneys who, on the Effective Transfer Date, are providing legal services to or on behalf of the Owner or with respect to the Assets in connection with pending litigation, including but not limited to foreclosure or litigation litigation, involving one or more of the Mortgage LoansAssets, of the transfer of the servicing function rights and obligations with respect to the Mortgage Loans Assets to the Servicer. (eb) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred assist Owner, at Owner’s expense, with respect to providing any notice of transfers to Borrowers required in connection with subsection (athe acquisition of the Assets by Owner, including, but not limited to, the notice of transfer required by 24 C.F.R. Section 3500.21(d)(2)(ii)(C) aboveand the notice required by 12 C.F.R. Section 226.39.

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to Servicer initiates servicing under this Agreement, the Mortgage Loans, Servicer and the Owner shall cause provide any required notices (“Goodbye Letters”) notice to the Mortgagors of the transfer of the servicing function transactions contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be through notices prepared and delivered by or on behalf of the Owner in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and Applicable Requirements including the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters notice to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (b) The Owner shall notify, or cause to be notified, all Insurers, by overnight or registered mail, that all insurance premium xxxxxxxx for the Mortgage Loans must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (c) The Owner, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicercompany) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Date. (d) The Owner shall notify all attorneys who, on the Effective Date, are providing legal services to or on behalf of the Owner in connection with pending foreclosure or litigation Litigation involving one or more of the Mortgage Loans, of the transfer of the servicing function rights and obligations with respect to the Mortgage Loans to the Servicer. (e) The costs and expenses related to the notices joint Mortgagor notice required to be provided under Subsections (bthis Section 2.22(a) shall be split. All notifications required to be made under Sections 2.22(b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner Each Seller shall cause provide servicing transfer notices and any required other similar notices (“Goodbye Letters”) to the Mortgagors of as may be required under the transfer of Applicable Requirements, including the servicing function contemplated herein to be delivered to the MortgagorsFederal Real Estate Settlement Procedures Act codified § 2601 et seq. Such Goodbye Letters shall be prepared and delivered implemented by or on behalf of the Owner in accordance with applicable law and the Transfer InstructionsRegulation X, 24 C.F.R. Part 3500. Within fifteen (15) days before following the applicable Effective Servicing Transfer Date, but not before any such Servicing Transfer Date with respect unless agreed to in writing by the Mortgage Loansapplicable Seller, the Servicer Purchaser shall cause any required notices (deliver to each related Mortgagor a “Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer Welcome Letter” in accordance with applicable law the Applicable Requirements and at Purchaser’s own cost and expense. Prior to such Servicing Transfer Date, each Party shall submit to the other Party its form of such “Welcome Letter” or “Goodbye Letter” for review and approval. Purchaser shall not contact any Mortgagors prior to such Servicing Transfer Instructions. The parties shall cooperate Date unless agreed to accomplish such notification in a timely and efficient manner as will best facilitate the assumption writing by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailingrelated Seller. (b) The Owner shall notifyWithin thirty (30) days after the applicable Servicing Transfer Date, or cause (i) the related Seller shall, in accordance with applicable Insurer requirements, provide written notice of the transfer to be notifiedany Insurer requiring such notice; provided, all Insurers, by overnight or registered mailhowever, that such Seller may give aggregate notice whenever possible, and (ii) such Seller shall notify related tax-xxxx services of the transfer. The form of all insurance premium xxxxxxxx for the Mortgage Loans must notices by such Seller pursuant to this Section 7.03(b) shall be sent subject to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption review and reasonable approval of the servicing responsibilities by the ServicerPurchaser upon Purchaser’s request. (c) The OwnerIf required by an Investor, and mutually agreed by the Parties, Purchaser shall use reasonable efforts to make post-Servicing Transfer Date ACH or other alternative forms of withdrawal with respect to each Mortgagor under a Mortgage Loan owned by such Investor, based on the ACH information provided by the related Seller. In the event Purchaser is unable to make post-Servicing Transfer Date ACH in accordance with the reasonable assistance of the Servicerpreceding sentence, Purchaser shall notify the applicable taxing authorities (except as obtain a new authorization from each such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills Mortgagor in accordance with Applicable Requirements. Notwithstanding anything to the Servicer contrary in any Transaction Documents, Purchaser acknowledges and agrees that neither Seller shall be responsible for Purchaser’s compliance with Applicable Requirements in using such information for any post-Servicing Transfer Date ACH or the applicable tax service providerother alternative forms of withdrawal, as the case may be, from and after the Effective Dateor liable to Purchaser for any Losses resulting therefrom. (d) The Owner In connection with any Mortgage Loans subject to bankruptcy proceedings, the Purchaser shall notify all attorneys whofile transfers of claims as required by Applicable Requirements, on the Effective Date, are providing legal services to or on behalf including Rule 3001(e) of the Owner Federal Rules of Bankruptcy Procedure; provided, that Sellers shall promptly deliver to Purchaser (upon Purchaser’s request) any information and documentation that is reasonably necessary for Purchaser to comply with this Section 7.03(d); provided further, that, in connection with pending foreclosure the event any such Seller fails to deliver applicable proof of claim-related information (which information shall include accurate post-petition due date and proof of claim data) within thirty (30) days following each applicable Servicing Transfer Date to Purchaser (whether or litigation involving one or more of the Mortgage Loans, of the transfer of the servicing function with respect to the Mortgage Loans to the Servicer. (e) The costs and expenses related to the notices required to be provided under Subsections (bnot requested thereby), (csuch Seller shall promptly reimburse Purchaser for any expense in an amount not to exceed $100.00, per Mortgage Loan subject to bankruptcy proceedings incurred by Purchaser in complying with this Section 7.03(d) and (d) above shall be paid by the Owner. Each as a result of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) abovenot receiving such proof of claim-related information.

Transfer Notices. (a) Within fifteen The Owner and the Servicer shall cooperatively (15) days before the applicable Effective Date with respect other than to the Mortgage Loansextent either party individually is subject to related requirements pursuant to applicable law, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in which case such party shall), in accordance with Applicable Requirements: (i) Provide or cause to be provided any notices to Borrowers of the transactions contemplated herein as required by applicable law and the Transfer Instructions. Within fifteen Applicable Requirements, including but not limited to, any transfer notice required by 24 C.F.R., Section 3500.21 (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer InstructionsRegulation X). The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (bii) The Owner shall notifyNotify, or cause to be notified, as applicable, all Insurersinsurers, by overnight or registered mail, that all insurance premium xxxxxxxx for related to the Mortgage Loans Assets must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Transfer Date, obtain or cause to be obtained the written consent of any Insurers insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (ciii) The OwnerNotify, with the reasonable assistance of the Serviceror cause to be notified, shall notify the applicable as applicable, taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Transfer Date. (div) The Owner shall notify Notify, or cause to be notified, as applicable, all attorneys who, on the Effective Transfer Date, are providing legal services to or on behalf of the Owner or with respect to the Assets in connection with pending litigation, including but not limited to foreclosure or litigation litigation, involving one or more of the Mortgage LoansAssets, of the transfer of the servicing function rights and obligations with respect to the Mortgage Loans Assets to the Servicer. (eb) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred assist Owner, at Owner’s expense, with respect to providing any notice of transfers to Borrowers required in connection with subsection (athe acquisition of the Assets by Owner, including, but not limited to, the notice of transfer required by 24 C.F.R. Section 3500.21(d)(2)(ii)(C) aboveand the notice required by 12 C.F.R. Section 226.39.