Common use of Loss Mitigation and Consideration of Alternatives Clause in Contracts

Loss Mitigation and Consideration of Alternatives. For each Single Family Shared-Loss Loan in default or for which a default is reasonably foreseeable, the Assuming Bank shall undertake reasonable and customary loss mitigation efforts, in accordance with Exhibit 5, FDIC Mortgage Loan Modification Program. The Assuming Bank shall document its consideration of foreclosure, loan restructuring, and short-sale (if short-sale is a Whole Bank P&A w/Loss Sharing 52 Suburban Federal Savings Bank January 30, 2009 Crofton, MD viable option) alternatives and shall select the alternative resulting in the least Loss. Assuming Bank shall retain its calculations of the estimated loss under each alternative, such calculations to be provided to the Receiver upon request.

Loss Mitigation and Consideration of Alternatives. For each Single Family Shared-Loss Loan in default or for which a default is reasonably foreseeable, the Assuming Bank shall undertake reasonable and customary loss mitigation efforts, in accordance with Exhibit 5, FDIC Mortgage Loan Modification Program. The Assuming Bank shall document its consideration of foreclosure, loan restructuring, and short-sale (if short-sale is a Whole Bank P&A w/Loss Sharing January 30, 2009 52 Suburban Federal Savings Bank January 30, 2009 Crofton, MD viable option) alternatives and shall select the alternative resulting in the least Loss. Assuming Bank shall retain its calculations of the estimated loss under each alternative, such calculations to be provided to the Receiver upon request.