Common use of Monitoring of Servicer Clause in Contracts

Monitoring of Servicer. 104 SECTION 4.04. Fidelity Bond........................................................................105 SECTION 4.05. Power to Act; Procedures.............................................................105 SECTION 4.06. Due-on-Sale Clauses; Assumption Agreements...........................................106 SECTION 4.07. Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..........................................................................107 SECTION 4.08. Standard Hazard Insurance and Flood Insurance Policies...............................107 SECTION 4.09. Presentment of Claims and Collection of Proceeds.....................................107 SECTION 4.10. Maintenance of Primary Mortgage Insurance Policies...................................108 SECTION 4.11. Trustee to Retain Possession of Certain Insurance Policies and Documents.............108 SECTION 4.12. Realization Upon Defaulted Mortgage Loans............................................109 SECTION 4.13. Compensation for the Master Servicer.................................................109 SECTION 4.14. REO Property.........................................................................109 SECTION 4.15. Annual Officer's Certificate as to Compliance........................................110 SECTION 4.16. Annual Independent Accountant's Servicing Report.....................................110 SECTION 4.17. UCC..................................................................................111 SECTION 4.18. Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls.......111 SECTION 4.19. Prepayment Penalty Verification......................................................111 ARTICLE V PAYMENTS TO CERTIFICATEHOLDERS...........................................................113 SECTION 5.01. Distributions........................................................................113 SECTION 5.02. Statements to Certificateholders.....................................................128 SECTION 5.03. Servicer Reports; P&I Advances.......................................................131 SECTION 5.04. Allocation of Realized Losses........................................................133

Monitoring of Servicer. 104 94- SECTION 4.04. 4.04 Fidelity Bond........................................................................105 ................................................................................-95- SECTION 4.05. 4.05 Power to Act; Procedures.............................................................105 .....................................................................-95- SECTION 4.06. 4.06 Due-on-Sale Clauses; Assumption Agreements...........................................106 ...................................................-96- SECTION 4.07. 4.07 Reserved.....................................................................................-96- SECTION 4.08 Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..........................................................................107 ..................................................................................-96- SECTION 4.08. 4.09 Standard Hazard Insurance and Flood Insurance Policies...............................107 .......................................-97- SECTION 4.09. 4.10 Presentment of Claims and Collection of Proceeds.....................................107 .............................................-97- SECTION 4.10. Maintenance of Primary Mortgage Insurance Policies...................................108 4.11 Reserved.....................................................................................-97- SECTION 4.11. 4.12 Trustee to Retain Possession of Certain Insurance Policies and Documents.............108 Documents ............................................................................................-97- SECTION 4.12. 4.13 Realization Upon Defaulted Mortgage Loans............................................109 ....................................................-98- SECTION 4.13. 4.14 Compensation for the Master Servicer.................................................109 .........................................................-98- SECTION 4.14. 4.15 REO Property.........................................................................109 .................................................................................-98- SECTION 4.15. 4.16 Annual Officer's Certificate as to Compliance........................................110 ................................................-99- SECTION 4.16. 4.17 Annual Independent Accountant's Servicing Report.....................................110 .............................................-99- SECTION 4.17. 4.18 UCC..................................................................................111 .........................................................................................-100- SECTION 4.18. 4.19 Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls.......111 ..................................................................................-100- SECTION 4.19. 4.20 Reserved....................................................................................-100- SECTION 4.21 Prepayment Penalty Verification......................................................111 ARTICLE V PAYMENTS TO CERTIFICATEHOLDERS...........................................................113 SECTION 5.01. Distributions........................................................................113 SECTION 5.02. Statements to Certificateholders.....................................................128 SECTION 5.03. Servicer Reports; P&I Advances.......................................................131 SECTION 5.04. Allocation of Realized Losses........................................................133.............................................................-100-

Monitoring of Servicer. 104 86- SECTION 4.04. Fidelity Bond........................................................................105 ............................................ -87- SECTION 4.05. Power to Act; Procedures.............................................................105 ................................. -87- SECTION 4.06. Due-on-Sale Clauses; Assumption Agreements...........................................106 ............... -88- SECTION 4.07. Reserved................................................. -88- SECTION 4.08. Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..........................................................................107 ................... -88- SECTION 4.084.09. Standard Hazard Insurance and Flood Insurance Policies...............................107 ... -89- SECTION 4.094.10. Presentment of Claims and Collection of Proceeds.....................................107 ......... -89- SECTION 4.104.11. Maintenance of the Primary Mortgage Insurance Policies...................................108 ... -89- SECTION 4.114.12. Trustee to Retain Possession of Certain Insurance Policies and Documents.............108 ................................... -90- SECTION 4.124.13. Realization Upon Defaulted Mortgage Loans............................................109 ................ -90- SECTION 4.134.14. Compensation for the Master Servicer.................................................109 ..................... -90- SECTION 4.144.15. REO Property.........................................................................109 ............................................. -90- SECTION 4.154.16. Annual Officer's Certificate as to Compliance........................................110 ............ -91- SECTION 4.164.17. Annual Independent Accountant's Servicing Report.....................................110 ......... -92- SECTION 4.174.18. UCC..................................................................................111 ...................................................... -92- SECTION 4.184.19. Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls.......111 ........................... -92- SECTION 4.194.20. Collection Account....................................... -92- SECTION 4.21. Prepayment Penalty Verification......................................................111 ARTICLE V PAYMENTS TO CERTIFICATEHOLDERS...........................................................113 SECTION 5.01. Distributions........................................................................113 SECTION 5.02. Statements to Certificateholders.....................................................128 SECTION 5.03. Servicer Reports; P&I Advances.......................................................131 SECTION 5.04. Allocation of Realized Losses........................................................133.......................... -93-

Monitoring of Servicer. 104 107- SECTION 4.04. 4.04 Fidelity Bond........................................................................105 ...............................................................................-108- SECTION 4.05. 4.05 Power to Act; Procedures.............................................................105 ....................................................................-108- SECTION 4.06. 4.06 Due-on-Sale Clauses; Assumption Agreements...........................................106 ..................................................-109- SECTION 4.07. 4.07 Reserved....................................................................................-109- SECTION 4.08 Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee..........................................................................107 .................................................................................-109- SECTION 4.08. 4.09 Standard Hazard Insurance and Flood Insurance Policies...............................107 ......................................-110- SECTION 4.09. 4.10 Presentment of Claims and Collection of Proceeds.....................................107 ............................................-110- SECTION 4.10. Maintenance of Primary Mortgage Insurance Policies...................................108 4.11 Reserved....................................................................................-110- SECTION 4.11. Trustee to Retain Possession of Certain Insurance Policies and Documents.............108 4.12 Reserved....................................................................................-110- SECTION 4.12. 4.13 Realization Upon Defaulted Mortgage Loans............................................109 ...................................................-110- SECTION 4.13. 4.14 Compensation for the Master Servicer.................................................109 ........................................................-111- SECTION 4.14. 4.15 REO Property.........................................................................109 ................................................................................-111- SECTION 4.15. 4.16 Annual Officer's Certificate as to Compliance........................................110 ...............................................-111- SECTION 4.16. 4.17 Annual Independent Accountant's Servicing Report.....................................110 ............................................-112- SECTION 4.17. 4.18 UCC..................................................................................111 .........................................................................................-112- SECTION 4.18. 4.19 Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls.......111 SECTION 4.19. Prepayment Penalty Verification......................................................111 ARTICLE V PAYMENTS TO CERTIFICATEHOLDERS...........................................................113 SECTION 5.01. Distributions........................................................................113 SECTION 5.02. Statements to Certificateholders.....................................................128 SECTION 5.03. Servicer Reports; P&I Advances.......................................................131 SECTION 5.04. Allocation of Realized Losses........................................................133..................................................................................-112-