Common use of Surrender of Policy Clause in Contracts

Surrender of Policy. The Trustee shall surrender this Policy to Financial Security for cancellation upon expiration of the Term of This Policy. Policy No.: 51660-N Date of Issuance: June 28, 2005 IN WITNESS WHEREOF, FINANCIAL SECURITY ASSURANCE INC. has caused this Endorsement No. 1 to be executed by its Authorized Officer. FINANCIAL SECURITY ASSURANCE INC. By: s/ M. D. W▇▇▇▇▇, Jr. Policy No.: 51660-N Date of Issuance: June 28, 2005 Financial Security Assurance Inc. 3▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Re: New Century Home Equity Loan Trust, Series 2005-A Asset Backed Pass-Through Certificates The undersigned, a duly authorized officer of Deutsche Bank National Trust Company (the “Trustee”), hereby certifies to Financial Security Assurance Inc. (“Financial Security”), with reference to Financial Guaranty Insurance Policy No. 51660-N dated June 28, 2005 (the “Policy”) issued by Financial Security in respect of the New Century Home Equity Loan Trust, Series 2005-A Asset Backed Pass-Through Certificates, $108,924,000 Original Class Principal Balance, Class A-4w and $71,925,000 Original Class Principal Balance, Class A-5w (the “Certificates”), that: (i) The Trustee is the Trustee for the Holders under the Pooling and Servicing Agreement for the Holders. (ii) The sum of all amounts on deposit (or scheduled to be on deposit) in the Distribution Account and available for distribution to the Holders pursuant to the Pooling and Servicing Agreement will be $__________ (the “Shortfall”) less than the Guaranteed Distributions with respect to the Distribution Date. (iii) The Trustee is making a claim under the Policy for the Shortfall to be applied to distributions of principal or interest or both with respect to the Certificates. (iv) The Trustee agrees that, following receipt of funds from Financial Security, it shall (a) hold such amounts in trust and apply the same directly to the payment of Guaranteed Distributions on the Certificates when due; (b) not apply such funds for any other purpose; (c) not commingle such funds with other funds held by the Trustee and (d) maintain an accurate record of such payments with respect to each Certificate and the corresponding claim on the Policy and proceeds thereof and, if the Certificate is required to be surrendered or presented for such payment, shall stamp on each such Certificate the legend “$[insert applicable amount] paid by Financial Security and the balance hereof has been cancelled and reissued” and then shall deliver such Certificate to Financial Security. (v) The Trustee, on behalf of the Holders, hereby assigns to Financial Security the rights of the Holders with respect to the Certificates to the extent of any payments under the Policy, including, without limitation, any amounts due to the Holders in respect of securities law violations arising from the offer and sale Policy No.: 51660-N Date of Issuance: June 28, 2005 of the Certificates. The foregoing assignment is in addition to, and not in limitation of, rights of subrogation otherwise available to Financial Security in respect of such payments. The Trustee shall take such action and deliver such instruments as may be reasonably requested or required by Financial Security to effectuate the purpose or provisions of this clause (v). (vi) The Trustee, on its behalf and on behalf of the Holders, hereby appoints Financial Security as agent and attorney-in-fact for the Trustee and each such Holder in any legal proceeding with respect to the Certificates. The Trustee hereby agrees that, so long as no Certificate Insurer Default (as defined in the Pooling and Servicing Agreement) exists, Financial Security may at any time during the continuation of any proceeding by or against the Trust under the United States Bankruptcy Code or any other applicable bankruptcy, insolvency, receivership, rehabilitation or similar law (an “Insolvency Proceeding”) direct all matters relating to such Insolvency Proceeding, including without limitation, (A) all matters relating to any claim in connection with an Insolvency Proceeding seeking the avoidance as a preferential transfer of any distribution made with respect to the Certificates (a “Preference Claim”), (B) the direction of any appeal of any order relating to any Preference Claim at the expense of Financial Security but subject to reimbursement as provided in the Insurance Agreement and (C) the posting of any surety, supersedeas or performance bond pending any such appeal. In addition, the Trustee hereby agrees that Financial Security shall be subrogated to, and the Trustee on its behalf and on behalf of each Holder, hereby delegates and assigns, to the fullest extent permitted by law, the rights of the Trustee and each Holder in the conduct of any Insolvency Proceeding, including, without limitation, all rights of any party to an adversary proceeding or action with respect to any court order issued in connection with any such Insolvency Proceeding. (vii) Payment should be made by wire transfer directed to Policy Payment Account. Unless the context otherwise requires, capitalized terms used in this Notice of Claim and Certificate and not defined herein shall have the meanings provided in the Policy. Policy No.: 51660-N Date of Issuance: June 28, 2005

Surrender of Policy. The Trustee shall surrender this Policy to Financial Security for cancellation upon expiration of the Term of This Policy. Policy No.: 5166051224-N Date of Issuance: June 28December 27, 2005 2001 IN WITNESS WHEREOF, FINANCIAL SECURITY ASSURANCE INC. has caused this Endorsement No. 1 to be executed by its Authorized Officer. FINANCIAL SECURITY ASSURANCE INC. By: s/ M. D. W▇▇▇▇▇, Jr. ------------------------------ Authorized Officer Policy No.: 5166051224-N Date of Issuance: June 28December 27, 2005 2001 EXHIBIT A TO ENDORSEMENT 1 NOTICE OF CLAIM AND CERTIFICATE (Letterhead of Trustee) Financial Security Assurance Inc. 3▇▇ ▇▇▇▇ ▇▇▇▇▇350 Park Avenu▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Re▇▇: New Century Home Equity Loan Trust, CSFB ABS Trust Series 20052001-A Asset Backed Pass-Through Certificates S31 The undersigned, a duly authorized officer of Deutsche Bank National Trust Company JP Morgan Chas▇ ▇▇▇▇ (the “Trustee”▇h▇ "▇▇ustee"), hereby certifies to Financial Security Assurance Inc. (“"Financial Security”"), with reference to Financial Guaranty Insurance Policy No. 51660No 51224-N dated June 28December 27, 2005 2001 (the “"Policy”") issued by Financial Security in respect of the New Century Home Equity Loan Trust, Series 2005-A Asset Backed CSFB Mortgage Pass-Through Certificates, $108,924,000 Original Class Principal Balance, Class A-4w and $71,925,000 Original Class Principal Balance, Class A-5w Series 2001-S31 (the “"Certificates”"), that: (i) The Trustee is the Trustee for the Holders under the Pooling and Servicing Agreement for the HoldersAgreement. (ii) The sum of all amounts on deposit (or scheduled to be on deposit) in the Distribution Certificate Account and available for distribution to the Holders pursuant to the Pooling and Servicing Agreement will be $__________ $ (the “"Shortfall”") less than the Guaranteed Distributions with respect to the Distribution Date[DISTRIBUTION DATE]. (iii) The Trustee is making a claim under the Policy for the Shortfall to be applied to distributions of principal or interest or both with respect to the Certificates. (iv) The Trustee agrees that, following receipt of funds from Financial Security, it shall (a) hold such amounts in trust and apply the same directly to the payment of Guaranteed Distributions on the Certificates when due; (b) not apply such funds for any other purpose; (c) not commingle such funds with other funds held by the Trustee and (d) maintain an accurate record of such payments with respect to each Certificate and the corresponding claim on the Policy and proceeds thereof and, if the Certificate is required to be surrendered or presented for such payment, shall stamp on each such Certificate the legend “$"[insert applicable amount] paid by Financial Security and the balance hereof has been cancelled and reissued” " and then shall deliver such Certificate to Financial Security. (v) The Trustee, on behalf of the Holders, hereby assigns to Financial Security the rights of the Holders with respect to the Certificates to the extent of any payments under the Policy, including, without limitation, any amounts due to the Holders Holder in respect of securities law violations arising from the offer and sale Policy No.: 51660-N Date of Issuance: June 28, 2005 of the Certificates. The foregoing assignment is in addition to, and not in limitation of, rights of subrogation otherwise available to Financial Security in respect of such payments. The Trustee shall take such action and deliver such instruments as may be reasonably reasonably. requested or required by Financial Security to effectuate the purpose or provisions of this clause (v). Policy No.: 51224-N Date of Issuance: December 27, 2001 (vi) The Trustee, on its behalf and on behalf of the Holders, hereby appoints Financial Security as agent and attorney-in-fact for the Trustee and each such Holder in any legal proceeding with respect to the Certificates. The Trustee hereby agrees that, so long as no Certificate Insurer a Financial Security Default (as defined in the Pooling and Servicing Agreement) existsshall not exist, Financial Security may at any time during the continuation of any proceeding by or against the Trust Issuer under the United States Bankruptcy Code or any other applicable bankruptcy, insolvency, receivership, rehabilitation or similar law (an “"Insolvency Proceeding”") direct all matters relating to such Insolvency Proceeding, including without limitation, ; (A) all matters relating to any claim in connection with an Insolvency Proceeding seeking the avoidance as a preferential transfer of any distribution made with respect to the Certificates (a “"Preference Claim”"), (B) the direction of any appeal of any order relating to any Preference Claim Claim, at the expense of Financial Security but subject to reimbursement as provided in the Insurance Agreement and (C) the posting of any surety, supersedeas or performance bond pending any such appeal. In addition, the Trustee hereby agrees that Financial Security shall be subrogated to, and the Trustee on its behalf and on behalf of each Holder, hereby delegates and assigns, to the fullest extent permitted by law, the rights of the Trustee and each Holder in the conduct of any Insolvency Proceeding, including, without limitation, all rights of any party to an adversary proceeding or action with respect to any court order issued in connection with any such Insolvency Proceeding. (vii) Payment should be made by wire transfer directed to Policy Payment the FSA Account. Unless the context otherwise requires, capitalized terms used in this Notice of Claim and Certificate and not defined herein shall have the meanings provided in the Policy. Policy No.: 51660-N Date of Issuance: June 28, 2005