ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Master Servicer to Act as Master Servicer; Administration of the Mortgage Loans; Sub-Servicing Agreements; Outside Serviced Mortgage Loans 175 Section 3.02 Liability of the Master Servicer and the Special Servicer 189 Section 3.03 Collection of Certain Mortgage Loan Payments 189 Section 3.04 Collection of Taxes, Assessments and Similar Items; Escrow Accounts 191
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. SECTION 3.01. Master Servicer to Act as Master Servicer....................................................-59- SECTION 3.02. Sub-Servicing Agreements Between Master Servicer and Sub- Servicers...........................................................................-61- SECTION 3.03. Successor Sub-Servicers......................................................................-62- SECTION 3.04. Liability of the Master Servicer.............................................................-62- SECTION 3.05. No Contractual Relationship Between Sub-Servicers and the Trustee or Certificateholders...........................................................................-63- SECTION 3.06. Assumption or Termination of Sub-Servicing Agreements by Trustee.............................-63- SECTION 3.07. Collection of Certain Mortgage Loan Payments.................................................-63- SECTION 3.08. Sub-Servicing Accounts.......................................................................-64- SECTION 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts............................................................................-64- SECTION 3.10. Collection Account and Distribution Account..................................................-65- SECTION 3.11. Withdrawals from the Collection Account and Distribution Account.............................-67- SECTION 3.12. Investment of Funds in the Collection Account and the Distribution Account......................................................................................-69-
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The Master Servicer to act as Master Servicer.
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The Master Servicer to act as Master Servicer. The Master Servicer shall service and administer the Mortgage Loans in accordance with customary and usual standards of practice of prudent mortgage loan servicers in the respective states in which the related Mortgaged Properties are located. In connection with such servicing and administration, the Master Servicer shall have full power and authority, acting alone and/or through subservicers as provided in Section 3.03, to do or cause to be done any and all things that it may deem necessary or desirable in connection with such servicing and administration, including but not limited to, the power and authority, subject to the terms hereof (i) to execute and deliver, on behalf of the Certificateholders and the Trustee, customary consents or waivers and other instruments and documents, (ii) to consent to transfers of any related Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided herein), (iii) to collect any Insurance Proceeds and other Liquidation Proceeds or Subsequent Recoveries, and (iv) subject to Section 3.09, to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan; provided that the Master Servicer shall take no action that is inconsistent with or prejudices the interests of the Trust Fund or the Certificateholders in any Mortgage Loan or the rights and interests of the Depositor or the Trustee under this Agreement. Without limiting the generality of the foregoing, the Master Servicer, in its own name or in the name of the Trust, the Depositor or the Trustee, is hereby authorized and empowered by the Trust, the Depositor and the Trustee, when the Master Servicer believes it appropriate in its reasonable judgment, to execute and deliver, on behalf of the Trustee, the Depositor, the Certificateholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments, with respect to the Mortgage Loans, and with respect to the Mortgaged Properties held for the benefit of the Certificateholders. The Master Servicer shall prepare and deliver to the Depositor and/or the Trustee such documents requiring execution and delivery by any or all of them as are necessary or appropriate to enable the Master Servicer to service and administer the Mortgage Loans. Upon receipt of such documents, the Deposi...
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01 The Master Servicer to act as Master Servicer.
Section 3.02 Due-on-Sale Clauses; Assumption Agreements.
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. SECTION 3.01 Servicer to Act as Servicer. SECTION 3.02 Sub-Servicing Agreements Between the Servicer and Sub-Servicers.
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. Section 3.01. Servicer to Act as Servicer.
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. MASTER SERVICER TO ACT AS MASTER SERVICER.............................................59 Section 3.02. SUB-SERVICING AGREEMENTS BETWEEN MASTER SERVICER AND SUB-SERVICERS.....................................................................61 Section 3.03. SUCCESSOR SUB-SERVICERS...............................................................62 Section 3.04.
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. SECTION 3.01 Master Servicer to Act as Master Servicer; Administration of the Mortgage Loans...................... SECTION 3.02 Liability of the Master Servicer and Special Servicer....
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS. ACCOUNTS 72
Section 3.01. The Servicer to Act as a Servicer.........................................................72 Section 3.02. Sub-Servicing Agreements Between the Servicer and Sub-Servicers...........................74 Section 3.03. Successor Sub-Servicers...................................................................74 Section 3.04. No Contractual Relationship Between Sub-Servicer, Trustee or the Certificateholders.......75
