REPRESENTATIONS, WARRANTIES AND Clause Samples

REPRESENTATIONS, WARRANTIES AND. COVENANTS OF THE INVESTOR

REPRESENTATIONS, WARRANTIES AND. COVENANTS OF LESSOR -------------------------------

REPRESENTATIONS, WARRANTIES AND. Covenants of the Servicer and Seller. ------------------------------------ Chevy Chase, as Seller and Servicer, hereby represents and warrants to, and covenants with, the Depositor, the Insurer and the Trustee that, as of the date hereof: (i) Chevy Chase is a federal savings bank, validly existing and in good standing under the laws of the United States of America and is duly authorized and qualified to transact any and all business contemplated by this Agreement in any state in which a Mortgaged Property is located or is otherwise not required under applicable law to effect such qualification and, in any event, is in compliance with the doing business laws of any such State, to the extent necessary to ensure the enforceability of each Mortgage Loan and the servicing of the Mortgage Loans in accordance with the terms of this Agreement; (ii) Chevy Chase has the full corporate power and authority to service each Mortgage Loan, and to execute, deliver and perform, and to enter into and consummate the transactions contemplated by this Agreement and has duly authorized by all necessary corporate action on the part of Chevy Chase the execution, delivery and performance of this Agreement; and this Agreement, assuming the due authorization, execution and delivery thereof by the Depositor and the Trustee, constitutes a legal, valid and binding obligation of Chevy Chase, enforceable against Chevy Chase in accordance with its terms, except that (A) the enforceability thereof may be limited to bankruptcy, insolvency, moratorium, receivership and other similar laws relating to creditors' rights generally and (B) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought; (iii) the execution and delivery of this Agreement by Chevy Chase, the servicing of the Mortgage Loans by Chevy Chase hereunder, the consummation of any other of the transactions herein contemplated, and the fulfillment of or compliance with the terms hereof are in the ordinary course of business of Chevy Chase and will not (A) result in a material breach of any term or provision of the charter or by-laws of Chevy Chase or (B) materially conflict with, result in a material breach, violation or acceleration of, or result in a material default under, the terms of any other material agreement or instrument to which Chevy Chase is a party or by which it ...

REPRESENTATIONS, WARRANTIES AND. COVENANTS OF GRANTORS --------------------- As a material inducement to Optionee to enter into this Option Agreement and to consummate the transactions contemplated hereby, each Grantor hereby severally makes to Optionee each of the representations and warranties set forth in this Article III, which representations and warranties are true as of the date hereof. As a condition to Optionee's obligation to complete the purchase of each Grantor's Interests, such representations and warranties must continue to be true as of the date of the Closing (except a otherwise provided in Section 2.3(a)).

REPRESENTATIONS, WARRANTIES AND. COVENANTS OF THE SELLER; REPURCHASE AND SUBSTITUTION; REVIEW OF MORTGAGE LOANS Section 3.01 Representations and Warranties of each Seller Section 3.02 Representations and Warranties of the Servicer Section 3.03 Representations and Warranties as to Individual Mortgage Loans 28 Section 3.04 Repurchase and Substitution 39 Section 3.05 Certain Covenants of each Seller and the Servicer 41 Section 3.06 Servicing Control Notice 42 ARTICLE IV: REPRESENTATIONS AND WARRANTIES OF THE PURCHASER AND CONDITIONS PRECEDENT TO FUNDING 42 Section 4.01 Representations and Warranties 42 Section 4.02 Conditions Precedent to Closing 45 ARTICLE V: ADMINISTRATION AND SERVICING OF MORTGAGE LOANS Section 5.01 Cendant Mortgage to Act as Servicer; Servicing Standards; Additional Documents; Consent of the Purchaser Section 5.02 Collection of Mortgage Loan Payments 48

REPRESENTATIONS, WARRANTIES AND. COVENANTS OF SELLER -------------------

REPRESENTATIONS, WARRANTIES AND. COVENANTS OF THE DEPOSITOR, THE SERVICER AND THE SELLERS; COVENANT OF SELLER TO CONVEY HOME EQUITY LOANS 46

REPRESENTATIONS, WARRANTIES AND. ADDITIONAL COVENANTS OF THE TOWN 108 ARTICLE XIII DISPUTE RESOLUTION; WAIVER OF SOVEREIGN IMMUNITY; CONSENT TO JURISDICTION AND SERVICE 110 ARTICLE XIV DEFAULTS AND REMEDIES 113

REPRESENTATIONS, WARRANTIES AND. COVENANTS OF MANAGEMENT INVESTOR --------------------------------