Mortgage Servicing Rights Purchase and Sales Agreement - Nationstar - BofA - 2013

6/20/2015
MortgageServicingRightsPurchaseandSalesAgreement
EX2.12d461579dex21.htmMORTGAGESERVICINGRIGHTSPURCHASEANDSALES
AGREEMENT
Exhibit2.1
EXECUTIONCOPY
MORTGAGESERVICINGRIGHTSPURCHASEANDSALEAGREEMENT
BANKOFAMERICA,NATIONALASSOCIATION
(Seller)
NATIONSTARMORTGAGELLC
(Purchaser)
DatedandeffectiveasofJanuary6,2013
http://www.sec.gov/Archives/edgar/data/1520566/000119312513009512/d461579dex21.htm
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TABLEOFCONTENTS
ARTICLEIDEFINITIONSGENERALINTERPRETIVEPRINCIPLES
Section1.01 Definitions.
Section1.02 GeneralInterpretivePrinciples.
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ARTICLEIISALEANDTRANSFEROFSERVICING
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Section2.01 ItemstobeSold.
Section2.02 SaleDateandSubsequentSaleDates.
Section2.03 ServicingTransferDates.
Section2.04 ServicingTransferInstructions.
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ARTICLEIIICONSIDERATION
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Section3.01 PurchasePrice.
Section3.02 ServicingTransferDatesandPaymentsforAdvances.
Section3.03 CorrectionofErrors.
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ARTICLEIVREPRESENTATIONSANDWARRANTIESASTOSELLER
Section4.01 DueOrganizationandGoodStanding.
Section4.02 AuthorityandCapacity.
Section4.03 TitletothePurchasedAssets.
Section4.04 EffectiveAgreements.
Section4.05 MembershipandStanding.
Section4.06 Consents,ApprovalsandCompliance.
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ARTICLEVREPRESENTATIONSANDWARRANTIESASTOPURCHASEDASSETS
Section5.01 Servicing.
Section5.02 RecourseStatus.
Section5.03 Advances.
Section5.04 AccuracyofInformation.
Section5.05 DeliveryofInformation.
Section5.06 Repurchase.
Section5.07 ServicingFeeNotSold.
Section5.08 Damage,Condemnation,andRelatedMatters.
Section5.09 NoPurchaserResponsibility.
Section5.10 RelatedEscrowandCustodialAccounts.
Section5.11 HighCostLoans.
Section5.12 SolePurposeofArticleVRepresentationsandWarranties.
ARTICLEVIREPRESENTATIONSANDWARRANTIESOFPURCHASER
Section6.01 DueOrganizationandGoodStanding.
Section6.02 AuthorityandCapacity.
Section6.03 EffectiveAgreements.
Section6.04 SophisticatedPurchaser.
Section6.05 Purchaser/ServicerStanding.
Section6.06 MERSMembership.
Section6.07 FinancialAbility.
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Section6.08 NoRegulatoryImpediment.
Section6.09 Consents,ApprovalsandCompliance.
Section6.10 ServicerParticipationAgreement.
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ARTICLEVIICOVENANTS
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Section7.01 Assignments.
Section7.02 ServicingAgreementConsentsandNotices.
Section7.03 TransferNotices.
Section7.04 RealEstateTaxingAuthorities.
Section7.05 Hazard,MortgageandFlood.
Section7.06 DeliveryofMortgageLoanDocumentationandInformation.
Section7.07 DeliveryofServicingSystemInformation.
Section7.08 RelatedEscrowAccountBalances.
Section7.09 Payoffs,Assumptions,Modifications,RefinancingsShortSalesandDeedsinLieu.
Section7.10 MortgageLoanPaymentsandTrailingBillsReceivedAfterServicingTransferDate.
Section7.11 MisappliedandReturnedPayments.
Section7.12 ServicingObligations.
Section7.13 SolicitationRights.
Section7.14 YearEndTaxReporting.
Section7.15 Cooperation.
Section7.16 SupplementalInformation.
Section7.17 AccesstoInformationRequiredActions.
Section7.18 Tax,FloodandOtherSetUpCosts.
Section7.19 DocumentCustodian.
Section7.20 UseofName.
Section7.21 ConductofBusinessPriortotheClosing
Section7.22 NoTransferWithoutConsent.
Section7.23 UseofVendors.
Section7.24 CooperationwithFinancingEfforts.
Section7.25 ExcessYield.
Section7.26 SubsequentTransferofMortgageServicingRights
Section7.27 JointMarketing
Section7.28 CreditEnhancements
Section7.29 CompensatoryFeePayment
ARTICLEVIIICONDITIONSPRECEDENTTOOBLIGATIONSOFPURCHASER
Section8.01 CorrectnessofRepresentationsandWarranties.
Section8.02 CompliancewithConditions.
Section8.03 NoActions.
Section8.04 Consents.
Section8.05 TriPartyAgreements.
Section8.06 CertificateofSeller.
Section8.07 DeliveryofDocuments.
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ARTICLEIXCONDITIONSPRECEDENTTOOBLIGATIONSOFSELLER
Section9.01 CorrectnessofRepresentationsandWarranties.
Section9.02 CompliancewithConditions.
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Section9.03
Section9.04
Section9.05
Section9.06
CorporateResolution.
CertificateofPurchaser.
NoActions.
DeliveryofDocuments.
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ARTICLEXTERMINATION
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Section10.01 Termination.
Section10.02 EffectofTermination.
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ARTICLEXIINDEMNIFICATIONCUREORREPURCHASE
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Section11.01 IndemnificationbySeller.
Section11.02 IndemnificationbyPurchaser.
Section11.03 CureorRepurchase.
Section11.04 SubsequentTransferDuetoRepurchase.
Section11.05 CompensatoryFees.
Section11.06 OtherIndemnificationProvisions.
Section11.07 LimitationsonIndemnification.
Section11.08 Survival.
Section11.09 TreatmentofIndemnityPayments.
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ARTICLEXIIMISCELLANEOUS
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Section12.01 CostsandExpenses.
Section12.02 Confidentiality.
Section12.03 BrokersFees.
Section12.04 Notices.
Section12.05 Waivers.
Section12.06 EntireAgreementAmendment.
Section12.07 BindingEffect.
Section12.08 Headings.
Section12.09 ApplicableLaw.
Section12.10 DisputeResolution.
Section12.11 IncorporationofExhibitsandSchedules.
Section12.12 Counterparts.
Section12.13 SeverabilityofProvisions.
Section12.14 PublicAnnouncement.
Section12.15 Assignment.
Section12.16 ConflictsbetweenTransactionDocuments.
Section12.17 NoThirdPartyBeneficiaries.
Section12.18 Disclosures.
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EXHIBITA:
CONTENTSOFMORTGAGELOANSCHEDULE
EXHIBITA1: ESTIMATEDPURCHASEPRICECOMPUTATIONWORKSHEET
EXHIBITA2: PURCHASEPRICECOMPUTATIONWORKSHEET
EXHIBITA3: DEPOSITCALCULATION
EXHIBITB:
FORMOFTRANSFERCONFIRMATION
EXHIBITC:
DATATRANSFERSPECIFICATIONS
EXHIBITD:
OFFICERSCERTIFICATE
EXHIBITE:
SERVICINGTRANSFERINSTRUCTIONS
EXHIBITF:
PURCHASEPRICEPERCENTAGE
EXHIBITG:
INTERIMSERVICINGADDENDUM
EXHIBITH:
DATAFIELDSFORSHARINGOFINFORMATION
EXHIBITI:
MORTGAGEASSIGNMENTPROTOCOL
EXHIBITJ:
FORMOFPOWEROFATTORNEY
EXHIBITK:
ESCROWAGREEMENT
EXHIBITL:
MICOVENANTS
SCHEDULE3.02(a):
ServicingTransferDates
JudicialandAdministrativeJudgments,Orders,RemediationPlans,Stipulations,Awards,Writsand
InjunctionsAssumedByPurchaser
PreliminaryListofPLSServicingAgreements
SCHEDULE5.01(a)(iii):
SCHEDULE5.01(c)(i):
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MORTGAGESERVICINGRIGHTSPURCHASEANDSALEAGREEMENT
ThisMortgageServicingRightsPurchaseandSaleAgreement(theAgreement),datedasofJanuary6,2013,isbyand
betweenNATIONSTARMORTGAGELLC,aDelawarelimitedliabilitycompany(thePurchaser),withofficeslocatedin350
HighlandDrive,Lewisville,Texas75067,andBANKOFAMERICA,NATIONALASSOCIATION,anationalbanking
association(theSeller),withofficeslocatedin4500ParkGranada,Calabasas,California,91302(thePurchaserandtheSeller
maycollectivelybereferredtoastheParties,andeachasaParty).
WITNESSETH:
WHEREAS,SellerdesirestoselltoPurchaser,andPurchaserdesirestopurchasefromSeller,certainMortgageServicing
RightstocertainresidentialmortgageloanscurrentlyservicedbySellerand
WHEREAS,PurchaserandSellerdesiretosetforththetermsandconditionspursuanttowhichSellerwillsell,transfer
andassign,toPurchaser,allofSellersright,titleandinterestinandtosuchMortgageServicingRights,andPurchaserwill
purchaseandassumeallright,titleandinterestinandtothosecertainMortgageServicingRightsidentifiedhereinasrelatedto
theMortgageLoans.
NOW,THEREFORE,inconsiderationofthemutualpromises,covenantsandconditionsandforothergoodandvaluable
consideration,thereceiptandsufficiencyofwhichareherebyacknowledged,anduponthetermsandsubjecttotheconditions
setforthherein,thePartiesheretoagreeasfollows:
ARTICLEI
DEFINITIONSGENERALINTERPRETIVEPRINCIPLES
Section1.01Definitions.
Wheneverusedherein,thefollowingwordsandphrases,unlessthecontextotherwiserequires,shallhavethefollowing
meanings:
Advances:AllCorporateAdvances,P&IAdvancesandT&IAdvances,includinganyapplicablereceivables
associatedtherewith.
Affiliate:Anyindividual,partnership,corporation,entityorotherPersonthatdirectly,orindirectlythroughoneormore
intermediaries,controls,iscontrolledbyorisundercommoncontrolwiththePersonspecified.
Agency:FHA,VA,GNMA,FNMA,FHLMC,HUDandRHS,asapplicable.
AgencyFees:ThemeaningspecifiedinSection11.05(a)hereof.
Agreement:Asdefinedinthefirstparagraphhereof.
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AncillaryIncome:AllfeesandincomederivedfromandrelatedtotheMortgageLoans,excludingServicingFees
attributabletotheMortgageLoans,butincludingandnotlimitedtolatecharges,prepaymentpenalties,feesreceivedwith
respecttochecksorbankdraftsreturnedbytherelatedbankfornonsufficientfunds,assumptionfees,optionalinsurance
administrativefees,incomeonescrowaccountsandcustodialaccountsorotherreceiptsonorwithrespecttosuchMortgage
Loans,andallotherincidentalfees,incomeandchargescollectedfromorassessedagainsttheMortgagor,otherthanthose
chargespayabletotheapplicableInvestorunderthetermsoftheapplicableServicingAgreementsorasotherwiseagreedby
theParties.
ApplicableRequirements:Asofthetimeofreferenceandasapplicable,(i)thetermsoftheMortgageLoanDocuments,
withrespecttoeachMortgageLoan,(ii)allfederal,stateandlocallaws,rules,regulationsandordinancesapplicabletothe
origination,sale,poolingorservicingofanyMortgageLoanorMortgageServicingRightattherelevanttime,(iii)theServicing
Agreements,(iv)thejudicialandadministrativejudgments,orders,remediationplans,stipulations,awards,writsand
injunctionsapplicabletoanyMortgageLoanorMortgageServicingRight,and(v)alllegalandcontractualobligationstoor
withanyInsurer,Investor,orGovernmentalEntityapplicabletoanyMortgageLoanorMortgageServicingRight.
Arbitrator:ThemeaningspecifiedinSection12.10(a)hereof.
AssignmentofMortgage:AnassignmentofMortgage,noticeoftransferorequivalentinstrumentinrecordableform,
sufficientunderthelawsofthejurisdictionwheretherelatedMortgagedPropertyislocatedtoreflectthetransferofthe
Mortgageinstrumentidentifiedthereinfromthetransferortothetransfereenamedtherein.
BusinessDay:Anydayotherthan(a)aSaturdayorSunday,or(b)adayonwhichbankinginstitutionsinCalifornia,
TexasorNewYorkareauthorizedorobligatedbylaworbyexecutiveordertobeclosed.
CollateralFile:WithrespecttoeachMortgageLoan,thatfilecontainingtheMortgageLoanDocumentsor,aspermitted
byApplicableRequirements,copiesthereof,requiredbyanInvestorpursuanttoApplicableRequirementstobeheldbythe
Custodian,butexcludinganyMortgageLoanDocumentthatisnotrequiredbysuchInvestorpursuanttoApplicable
RequirementstobeheldbytheCustodianpursuanttoawaivergrantedtoSeller.
CorporateAdvances:AdvancesrelatedtoadelinquentMortgageLoanexpendedbySellerinaccordancewiththe
ServicingAgreement(otherthanP&IAdvancesandT&IAdvances),includingattorneyfeesandcosts,property
preservation,propertyinspection,andvaluationfees,aswellasotherdefaultrelatedexpenses.
CreditandServicingFile:Thosedocuments,whichmaybeoriginals,copiesorelectronicallyimaged,pertainingtoeach
MortgageLoan,whicharedeliveredtothePurchaserinconnectionwiththeservicingoftheMortgageLoan,whichwillinclude
originalsorcopiesoftheMortgageLoanDocuments,allcreditandservicingrelateddocumentationrelatingtotheorigination
andservicingofsuchMortgageLoannecessarytoservicetheMortgageLoaninaccordancewiththeApplicable
Requirements.
Custodian:WithrespecttoanyMortgageLoansandServicingAgreements,eachapplicabledocumentcustodianfor
Seller,PurchaserandtheapplicableInvestors.
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CustodialAccounts:TheaccountsinwhichCustodialFundsaredepositedandheldbyorforanyservicer.
CustodialFunds:AllfundsheldbyorforSellerwithrespecttotheMortgageLoans,includingallprincipalandinterest
fundsandanyotherfundsdueanInvestor,buydownfunds,fundsforthepaymentoftaxes,assessments,insurancepremiums,
groundrentsandsimilarcharges,fundsfromhazardinsurancelossdraftsandothermortgageescrowandimpoundamounts
(includinginterestaccruedthereonforthebenefitoftheMortgagorsundertheMortgageLoans,ifrequiredbylaworcontract)
maintainedbySellerrelatingtotheMortgageLoans.
CutoffDate:ThemeaningsetforthintheapplicableServicingAgreementor,ifthecomparabletermusedinanysuch
ServicingAgreementisnotCutoffDate,themeaningofsuchcomparabletermasusedinsuchServicingAgreement.
Deposit:Anamountequaltothesumof:(i)$10,000,000withrespecttothePLSMortgageServicingRightsand(ii)the
amountsetforthonExhibitA3heretowithrespecttotheFNMA,FHLMCandGNMAMortgageServicingRights.
EffectiveDate:ThedateasofwhichthisAgreementiseffective,asfirstsetforthabove.
EligibleServicingAgreement:AServicingAgreementthatcontainscustomaryprovisionsthatenableAdvancesmadeby,
andServicingFeesowedto,theservicerthereundertobeeligibleforfinancinginaserviceradvancefacility,including
provisionsthat(a)expresslyauthorizesuchservicer,withouttheconsentofanypartytheretoandnotwithstandinganyother
limitationsetforththerein,toenterintoafinancingorotherfacility(anAdvanceFacility)underwhichsuchservicerassigns
orpledgesitsrightsundersuchServicingAgreementtobereimbursedforanyorallAdvancesandServicingFeestoalender
oraspecialpurposebankruptcyremoteentityand/oratrusteeactingonbehalfofholdersofdebtinstrumentsoranyother
Person(anysuchPerson,anAdvanceFinancingPerson),(b)requiretheservicerandtheAdvanceFinancingPersonto
notifytherelatedsecuritizationtrusteeinwritingoftheexistenceofanAdvanceFacilityandtheidentityoftheAdvance
FinancingPerson,(c)providethatanAdvanceFacilitynoticemayonlybeterminatedbythejointwrittennoticeoftheservicer
andtherelatedAdvanceFinancingPerson,(d)requiretheservicertomaintainandprovidetoanysuccessorservicerandthe
relatedsecuritizationtrustee,adetailedaccountingonaloanbyloanbasisastoamountsadvancedby,pledgedorassigned
to,andreimbursedtoanyAdvanceFinancingPersonthatarerecoverableonaloanlevel,(e)requirethatasbetweena
predecessorserviceranditsAdvanceFinancingPerson,ontheonehand,andasuccessorserviceranditsAdvanceFinancing
Person(ifany)ontheotherhand,reimbursementamountsinrespectofAdvancesandServicingFeesonaloanbyloanbasis
withrespecttoeachMortgageLoanasshallbeallocatedonafirstin,firstoutbasis(suchthatAdvancesofaparticulartype
andServicingFeesthatweredisbursedfirstintimewillbereimbursedpriortoAdvancesofthesametypeorServicingFees
withrespecttothesameMortgageLoanthatweredisbursedlaterintime),(f)providethatanyrightsofsetoffthatthetrust
fund,thetrustee,themasterserviceroranyotherPersonmighthaveagainstsuchservicerundertherelatedsecuritizationtrust
documentshallnotattachtoanyrightstoreceiveAdvancesandServicingFeesthathavebeensold,transferredorpledgedto
anAdvanceFinancingPersonunderaserviceradvancefacilityand(g)providethatthesectionsofsuchServicingAgreement
thatauthorizetheservicertoenterintoanAdvanceFacilitymaynotbeamendedwithouttheconsentoftheAdvance
FinancingPerson.
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EscrowAgent:WilmingtonTrust,N.A.
EscrowAgreement:Theescrowagreement,datedasofthedatehereof,byandbetweenSeller,PurchaserandtheEscrow
Agent,whichissetforthasExhibitKhereto.
EstimatedPurchasePrice:AsdescribedinSection3.01andtheEstimatedPurchasePriceComputationWorksheet(Exhibit
A1).
ExcessServicingRightsAgreements:EachagreementexecutedbyFNMAorFHLMC,astheInvestor,andSellerin
connectionwiththedeliveryofcertainstrippedmortgagebackedsecuritiestoSellerinexchangeforSellersexcessyieldon
certainMortgageLoanspreviouslydeliveredbySellertoFNMAorFHLMC,asapplicable.
FederalFundsRate:Foranydateofdetermination,thefederalfundsrateasreportedintheFederalReserveH.15(519)
StatisticalReleaseasofthefirstBusinessDayofthemonthinwhichsuchdateofdeterminationfalls,orifsuchStatistical
Releaseisnolongerpublished,theaverageofthehighandthelowinterestrateforreservestradedamongcommercial
banksforovernightuseinamountsofonemilliondollars($1,000,000.00)ormore,asreportedbyTheWallStreetJournalunder
FederalFundsratesasofthefirstBusinessDayofthemonthinwhichsuchdateofdeterminationfalls.
FHA:TheFederalHousingAdministrationoranysuccessorthereto.
FHLMC:TheFederalHomeLoanMortgageCorporationoranysuccessorthereto.
FinancingAmendment:(a)AnamendmenttotheprovisionsofanyPLSServicingAgreementthatrelatestothe
replacementoftheservicerortheassignmentortransferofServicing,whichamendmentisdeterminedbytheSellerand
PurchasertobereasonablynecessarytobeenteredintoasaconditiontoobtainingtheServicingAgreementConsents,and/or
(b)anyamendment,consentoracknowledgementwithrespecttothetermsofanyServicingAgreementtocausesuch
ServicingAgreementtobeanEligibleServicingAgreement.
FNMA:TheFederalNationalMortgageAssociationoranysuccessorthereto.
FundamentalReps:(a)WithrespecttoSeller,Sections4.01(DueOrganizationandGoodStanding),4.02(Authorityand
Capacity),4.03(TitletothePurchasedAssets)and5.01(b)(i)(ServicingRights),and(b)withrespecttoPurchaser,Sections6.01
(DueOrganizationandGoodStanding)and6.02(AuthorityandCapacity).
GNMA:TheGovernmentNationalMortgageAssociationoranysuccessorthereto.
GNMAMortgagePool:OneormoreMortgageLoansthathavebeenaggregatedpursuanttotherequirementsofGNMA
andhavebeenpledgedtosecureorsupportpaymentsonspecificsecuritiesorparticipationcertificatesorwholeloanpools.
GovernmentalEntity:Anyfederal,stateorlocalgovernmentalauthority,agency,commissionorcourtorselfregulatory
authorityorcommission,includinganyAgencyandtheRegulator.
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Guides:(a)ThehandbooksofHUD,theVAandRHS,(b)theFannieMaeSellingandServicingGuides,(c)theFreddie
MacSellersandServicersGuides,and(d)theGNMAMortgageBackedSecuritiesGuides.
HAMP:TheHomeAffordableModificationProgramasadministeredbyFNMAasagentfortheU.S.Departmentof
Treasury.
HARP:TheHomeAffordableRefinancingProgramofFNMAandFHLMC.
HUD:TheUnitedStatesDepartmentofHousingandUrbanDevelopmentoranysuccessorthereto.
HUDSettlement:TheSettlementAgreementdatedJuly11,2011byandbetweenHUD,ontheonehand,andtheSellerand
BACHomeLoansServicing,LP,ontheotherhand,pertainingtotheservicingofcertainenumeratedFHAinsuredresidential
mortgageloans.
Insurer:(i)APersonwhoinsuresorguaranteesalloranyportionoftheriskoflossonanyMortgageLoan,anyAgency
andanyproviderofprivateMI,hazardinsurance,floodinsurance,earthquakeinsuranceortitleinsurancewithrespecttoany
MortgageLoanorMortgagedProperty,asthecasemaybe,includinganyGovernmentalEntity,(ii)aPersonwhoprovides,
withrespecttoanyServicingAgreementoranyApplicableRequirement,anyfidelitybond,directsuretybond,letterofcredit,
othercreditenhancementinstrumentorerrorsandomissionspolicy,or(iii)aPersonwhoisacertificateinsurer.
InterimServicingAddendum:TheservicingprovisionssettingforththeservicingobligationsoftheSellercontemplated
bythisAgreement,andthecompensationtobepaidbythePurchaser,fortheperiodbeginningontheSaleDateorthe
applicableSubsequentSaleDate,asapplicable,andendingonthefinalServicingTransferDate,whichprovisionsareattached
heretoasExhibitGandincorporatedintothisAgreement.
Investor:AnyAgency,privateinvestor,trustorotherPersonwhoownsorholdsoriscommittedtopurchaseMortgage
Loansoranyinteresttherein(includinganytrusteeonbehalfofanyholdersofanyrelatedmortgagebackedsecurities,andnot
theholdersofsuchrelatedmortgagebackedsecurities)servicedbySellerpursuanttoanyServicingAgreement,provided,that
iftheSelleronlyowesServicingobligationstoamasterservicerorPersonotherthantheowner,holderorcommittedpurchaser
ofaMortgageLoanoranyinteresttherein(includinganytrusteeonbehalfofanyholdersofanyrelatedmortgagebacked
securities)underaPLSServicingAgreement,suchmasterservicerorotherPersonshallbedeemedtobetheInvestorforthe
purposesofthisAgreement.
LossorLosses:Anyandalldirect,actualandoutofpocketlosses,damages,deficiencies,claims,costs,penaltiesor
expenses,includingreasonableattorneysfeesanddisbursements,excluding(i)anyamountsattributabletoorarisingfrom
overheadallocations,generaloradministrativecostsandexpenses,oranycostforthetimeofanyPartysemployees,
(ii)consequentiallossesordamagesconsistingofspeculativelostprofits,lostinvestmentorbusinessopportunity,damageto
reputationoroperatinglosses,(iii)punitiveortrebledamages(iv)ordinarydeductionsfromthecalculationofinsuranceor
guarantybenefitsbyanInsurerassumingtheservicercompliedwithApplicableRequirements,including,withoutlimitation,
paymentofinterestbyFHAatthedebenturerateratherthantheMortgageNoterateanddeductionsfora
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portionofexpensesandinterest,(v)prepaymentinterestshortfallspayabletosecuritiesholdersfortheaccrualonintereston
mortgagebackedsecuritiesinexcessoftheamountpayablebytheMortgagoruponthefullprepaymentofaMortgageLoan
and(vi)lossesattributabletoVANoBidsandVABuydowns(exceptassetforthinSection11.01(d))provided,however,that
theexclusionssetforthinclauses(ii)and(iii)abovedonotapplyifandtotheextentanysuchamountsareactuallyincurredin
paymenttoathirdpartyorgovernmententity.
MERS:MortgageElectronicRegistrationSystems,Inc.,oranysuccessorthereto.
MI:ThedefaultinsuranceprovidedbyprivatemortgageinsurancecompaniesoncertainMortgageLoans,whether
lenderpaidorborrowerpaid.
MissingDocumentation:ThemeaningspecifiedinSection11.01(e)hereof.
Mortgage:Themortgage,mortgagedeed,deedoftrustorotherinstrumentcreatingafirstlienorfirstpriorityownership
interestonanunsubordinatedestateinfeesimpleinrealpropertysecuringtheMortgageNoteandrelatedtoaMortgage
Loanexceptthatwithrespecttorealpropertylocatedinjurisdictionsinwhichtheuseofleaseholdestatesforresidential
propertiesisawidelyacceptedpractice,themortgage,deedoftrustorotherinstrumentsecuringtheMortgageNotemay
secureandcreateafirstlienuponaleaseholdestateoftheMortgagor,asthecasemaybe,includinganyriders,addenda,
assumptionagreementsormodificationsrelatingthereto.
MortgageLoan:EachofthosemortgageloansdescribedintheMortgageLoanSchedule,asthesamemaybeamended
andupdatedpursuanttoSection2.01hereof.
MortgageLoanDocuments:WithrespecttoeachMortgageLoan,(i)theoriginalMortgageLoandocumentsheldbythe
Custodian,includingtheMortgageNote,andifapplicable,cooperativemortgageloanrelateddocumentsandapowerof
attorney,aNewYorkConsolidation,ExtensionandModificationAgreement,orothermodificationdocumentsand(ii)all
documentsrequiredbyanInvestortobeheldbytheCustodianundertheApplicableRequirements.
MortgageLoanSchedule:ThescheduleoftheMortgageLoanssettingforththeinformationwithrespecttoeach
MortgageLoanidentifiedinExhibitA,asmaybeupdatedandamended,andwhichwillbedeliveredinelectronicform.There
willbeapreliminaryandafinalMortgageLoanSchedule.
MortgageNote:WithrespecttoanyMortgageLoan,thenoteorotherevidenceofindebtednessoftheMortgagor
thereunder,including,ifapplicable,allongesandlostnoteaffidavits.
MortgageServicingRights:TherightsandresponsibilitieswithrespecttoservicingtheMortgageLoansunderthe
ServicingAgreements,includinganyandallofthefollowingifandtotheextentprovidedtherein:(a)allrightstoservicea
MortgageLoan(b)allrightstoreceiveServicingFeesandAncillaryIncome(c)therighttocollect,holdanddisburseescrow
paymentsorotherpaymentswithrespecttotheMortgageLoanandanyamountsactuallycollectedwithrespecttheretoandto
receiveinterestincomeonsuchamountstotheextentpermittedbyApplicableRequirements(d)allaccountsandotherrights
topaymentrelatedtoanyofthepropertydescribedinthisparagraph(e)possessionanduseofanyandallCreditand
ServicingFilespertainingtotheMortgageLoanorpertainingtothepast,presentorprospectiveservicingoftheMortgage
Loan(f)totheextentapplicable,allrightsandbenefitsrelatingtothedirectsolicitationoftherelatedMortgagorsforrefinance
ormodificationoftheMortgageLoansandattendantright,titleandinterestinandtothelistofsuchMortgagorsanddata
relatingtotheirrespectiveMortgageLoansand(g)allrights,powersandprivilegesincidenttoanyoftheforegoing.
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MortgagedProperty:AnyrealorotherpropertypermittedbyApplicableRequirementssecuringrepaymentofarelated
MortgageNote,consistingofafeesimpleinterestinasingleparcelofrealproperty,improvedbyaresidentialdwelling,or
otherpropertypermittedbyApplicableRequirements.
Mortgagor:AnobligororcosignerunderaMortgageLoanandhis/hersuccessorsintitletotheMortgagedProperty.
NetInterest:InterestcalculatedattheannualrateofinterestonaMortgageLoanlessNetServicingFees.
NetServicingFees:Thebase,monthlyServicingFeesbasedonapercentageoftheoutstandingprincipalbalanceofthe
MortgageLoanspayabletoSellerpriortotheSaleDate,less(i)anyguaranteefeesduetotheInvestor,less(ii)lenderpaid
mortgageinsurance,(iii)anyothercomponentsoftheServicingFeesthatSellerisnotentitledtoretainascompensation
pursuanttoaServicingAgreement,and(iv)theportionofanyServicingFeethathasbeenconvertedtoexcessyieldandis
requiredtobepaidtoanInvestorpursuanttotheExcessServicingRightsAgreements.
NMS:TheConsentJudgmentwithaccompanyingexhibitsenteredbytheUnitedStatesDistrictCourtfortheDistrictof
ColumbiaonApril5,2012(intheactionstyledUnitedStatesofAmerica,etal.v.BankofAmericaCorp.,etal.,No.12CV
00361,withrespecttothesettlementagreementamongtheplaintiffsinthatactionandBankofAmericaCorporation.
OfferingMaterials:ThatcertainConfidentialOfferingMemorandumencaptionedExtremelyConfidentialProject
Shuttle,datedasofSeptember2012,andtheassociatedpresentationencaptionedProjectShuttlePortfolioStratification,
datedasofSeptember2012,ineachcasedeliveredonbehalfofSellerbyMerrillLynch,Pierce,Fenner&SmithIncorporated.
P&IAdvances:PrincipalandNetInterestadvancesexpendedbySellerinaccordancewitheachapplicableServicing
Agreement(netofprepaidprincipalandinterest,asapplicable).
Party/Parties:ThemeaningspecifiedinthefirstparagraphofthisAgreement.
Person:Anyindividual,partnership,corporation,limitedliabilitycompany,businessentity,bankingentity,jointstock
company,trust,unincorporatedorganization,jointventureorotherentity.
PLSAccruedServicingFees:AllaccruedandunpaidmonthlyServicingFeesunderPLSServicingAgreements,excluding
anyotherservicingcompensation,suchasancillaryincome,investmentincome,andHAMPservicerincentivefees.
PLSServicingAgreement:EachagreementpursuanttowhichSellerservicesMortgageLoansonbehalfofanyInvestor
otherthananAgency(aseachsuchagreementhasbeenamendedfromtimetotime),allofwhich,fortheavoidanceofdoubt,
are,oruponupdatinginaccordancewithSection5.01(c)(i)shallbe,setforthonSchedule5.01(c)(i).
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PurchasePrice:AsadjustedpursuanttoSection3.01(a),theproductoftheunpaidprincipalbalanceoftheMortgage
LoansastowhichtherelatedMortgageServicingRightsaresoldontheSaleDateoraSubsequentSaleDate,multipliedbythe
applicablePurchasePricePercentage(s),plus,withrespecttoMortgageServicingRightsrelatedtoMortgageLoanssubjectto
aPLSServicingAgreement,therelatedPLSAccruedServicingFees.
PurchasePricePercentage:ThepercentagedeterminedandadjustedinaccordancewithExhibitFhereto.
PurchasedAssets:ThemeaningspecifiedinSection2.01hereof.
Purchaser:NationstarMortgageLLC,itssuccessorsandpermittedassigns.
PurchaserMaterialAdverseEffect:AmaterialandadverseeffectupontheabilityofPurchasertoconsummatethe
TransactionsorperformitsobligationsundertheTransactionDocuments.
RatingAgencyAffirmationLetter:AstoeachServicingAgreementthatrequiresratingagencyconfirmationorother
statementpursuanttothetermsofsuchServicingAgreementinordertoassignsuchServicingAgreementtoPurchaser
pursuanttothisAgreement,aletterorotherformofnoticeprovidedforinsuchServicingAgreementfromeachratingagency
referencedinsuchServicingAgreementasarelevantratingagency(i)totheeffectthat,asapplicable,theassignmentbythe
SellerandtheassumptionbyPurchaserwithrespecttosuchServicingAgreementwillnot,inandofitself,resultina
downgradingorwithdrawaloftheratingofanysecuritiesissuedpursuanttotherelatedsecuritizationorstructuredfinance
transactionthathavebeenratedbysuchratingagency,or(ii)otherwisemeetingtherequirementsforanassignmentofsuch
ServicingAgreementtoPurchaserasrequiredbythetermsthereof.
Recourse:Anyarrangementpursuanttowhichtheserviceroranysuccessorservicerbearstheriskofalloranypartof
theultimatecreditlosses(includingwithrespecttoanycreditenhancements)incurredinconnectionwithadefaultunder,or
theforeclosureof,acceptanceofdeedinlieuofforeclosureorrelatedactioninconnectionwith,aMortgageLoan,exceptthat
Recoursedoesnotincludelossesinconnectionwithafailurebytheserviceroranysuccessorservicertocomplywith
ApplicableRequirements.Recourseshallnotinclude(i)SellersoranAffiliatesretainedcontingentliabilitytorepurchasea
MortgageLoanthatisdeterminedtohavebeenineligibleforsaletotheapplicableInvestorduetoabreachofoneormore
representationsandwarranties,(ii)servicersP&IAdvanceobligationspursuanttoServicingAgreements,or(iii)servicers
obligationstopayexpenses,interestandotherdeductionsinexcessofthereimbursementlimits,ifany,setforthinthe
ApplicableRequirements,including,withoutlimitation,theamountofanydeductionsfrommortgageinsurancebenefits
payablebyFHAorloanguarantybenefitspayablebyVAassumingtheservicerotherwisecompliedwithApplicable
Requirements.Fortheavoidanceofdoubt,anyordinaryServicingobligationsundertheGNMAMortgageBackedSecurities
GuidesshallnotbedeemedtoconstituteRecourse.
Regulator:TheOfficeoftheComptrolleroftheCurrencyoranysuccessortheretoorotherGovernmentalAuthority
havingjurisdictionoverSellerorPurchaser.
RelatedEscrowAccounts:MortgageLoanescrow/impoundaccountsmaintainedbySellerrelatingtotheMortgage
ServicingRights,includingaccountsforbuydownfunds,realestatetaxesandMI,floodandhazardinsurancepremiums.
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RelatedParties:WithrespecttoaPerson,suchPersonsofficers,directors,shareholders,partners,members,owners,
employees,agents,attorneys,Affiliatesandadvisors.
RepurchasePrice:AsdefinedforSellersrepurchaseofMortgageServicingRightsinSection11.03(b).
RHS:TheRuralHousingService,anagencyoftheUnitedStatesDepartmentofAgricultureandanysuccessorthereto
andincludingtheFarmersHomeAdministration,asthepredecessorininteresttotheRuralHousingService.
Rules:ThemeaningspecifiedinSection12.10hereof.
Safeguard:ThemeaningspecifiedinSection7.23hereof.
SaleDate:January31,2013,withrespecttotheFNMAandFHLMCMortgageServicingRights,orsuchotherdateasmay
bemutuallyagreedtoinwritingbySellerandPurchaser,ineachcase,assumingthatallconditionsprecedenttoClosinghave
beensatisfiedinaccordancewithArticleVIIIandArticleIX.TheconsummationofcertainTransactionsontheSaleDate,at
suchtimeontheSaleDateasismutuallyagreedtobytheParties,shallbereferredtohereinastheClosing.
Seller:BankofAmerica,NationalAssociation,anationalbankingassociation,itssuccessorsandassigns.
SellerMaterialAdverseEffect:Amaterialandadverseeffecton(a)theapplicableportion(takenasawhole)ofthe
PurchasedAssetsbeingsoldontheSaleDateoranyparticularSubsequentSaleDate,(b)theabilityofSellertoconsummate
theTransactionsorperformitsobligationsundertheTransactionDocumentsor(c)theabilityofPurchasertoadministerthe
MortgageServicingRightsprovided,that,forpurposesofthisAgreement,aSellerMaterialAdverseEffectshallnotinclude
anysucheffecttotheextentresultingfrom(i)changestothehousingormortgagemarketorthemortgageservicingindustry
generally(ii)theannouncementordisclosureoftheTransactions(iii)generaleconomic,regulatoryorpoliticalconditionsor
changesintheUnitedStates,includingwithrespecttofinancial,bankingorsecuritiesmarkets(iv)militaryactionoractsof
terrorismor(v)changesinlawortheApplicableRequirementsthatbecomeeffectiveafterthedatehereofthatSellerisrequired
toadoptinaccordancetherewithprovidedfurther,that,inthecaseofeachofclauses(i),(iii)and(v),noneofsuchportionof
thePurchasedAssets,theabilityofSellertoconsummatetheTransactionsorperformitsobligationsundertheTransaction
DocumentsortheabilityofPurchasertoadministertheMortgageServicingRightsare,orarereasonablylikelytobe,materially
disproportionatelyaffectedbysucheffectascomparedtootherPersonsengagedintheconductofbusinessessimilarto
SellersbusinessofServicing.
ServicesAgreement:ThemeaningspecifiedinSection7.23hereof.
Servicing:TheresponsibilitieswithrespecttoservicingtheMortgageLoansundertheApplicableRequirements,whether
performedasaservicer,subservicerorinterimservicer.
ServicingAgreementConsent:Anyconsent,approvalorauthorizationthatisrequiredfromanInvestororanyotherthird
party,asapplicable,orthatisrequiredpursuanttothetermsofanyServicingAgreementinordertoassignorotherwise
transfersuchServicingAgreementorrelatedMortgageServicingRightstoPurchaserpursuanttothetermsofthisAgreement,
whichconsent,
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approvalorauthorization(a)shallsatisfytheApplicableRequirementsundersuchServicingAgreement,ifany,withrespectto
theassignmentortransferoftheServicingAgreementorrelatedMortgageServicingRightsto,andassumptionofthe
ServicingAgreementorrelatedMortgageServicingRightsby,PurchaserpursuanttothetermsofthisAgreement,(b)may,but
isnotrequiredto,includeaFinancingAmendmenttoaPLSServicingAgreement,ifapplicable,and(c)shallincludeaRating
AgencyAffirmationLetter,butonlytotheextentexpresslyrequiredbyaPLSServicingAgreement.
ServicingAgreements:Thecontracts,andallapplicablerules,regulations,procedures,manualsandguidelines
incorporatedtherein,definingtherightsandobligationsoftheInvestorandservicer,withrespecttotheMortgageServicing
Rights,consistingof,asapplicable,thePLSServicingAgreementsandthecontractsandotherdocuments,includingthe
Guides(aseachsuchcontractandotherdocumenthasbeenamendedfromtimetotime),andincludingwaiversapprovedbyan
Investor,andincludingtheExcessServicingRightsAgreementsunderwhichtheSellerorthePurchaser,asapplicable,is
obligatedtoServicetheMortgageLoansrelatingtotheMortgageServicingRights.
ServicingFees:AllcompensationpayabletoSellerundertheapplicableServicingAgreements,includingeachservicing
feepayablebasedonapercentageoftheoutstandingprincipalbalanceoftheMortgageLoansandanyadditionalincentive
compensationpayableunderHAMPandanypaymentsreceivedinrespectoftheforegoingandproceedsthereof.
ServicingTransferDate:EachdateonwhichtheSellerceasestobetheinterimservicerinrespectofcertainMortgage
LoansundertheInterimServicingAddendumandthephysicaltransferofservicingthereoftoPurchaseroccursonthebooks
andrecordsoftheapplicableInvestor.TheServicingTransferDatesshallbeassetforthonSchedule3.02(a),orasotherwise
mutuallyagreeduponbytheParties.
ServicingTransferInstructions:TheinstructionsdetailingtheprocedurespursuanttowhichSellershalleffecteach
transferoftheMortgageServicingRights,Advances,CustodialFunds,CreditandServicingFilesandCollateralFilesto
Purchaser,substantiallyintheformattachedheretoasExhibitE,withsuchchangesasthepartiesmaymutuallyagreeupon.
SubsequentClosing:ThemeaningspecifiedinSection2.02(a)(ii)hereof.
SubsequentSaleDate:ThemeaningspecifiedinSection2.02(a)(ii)hereof.
SubsequentTransferDate:ThemeaningspecifiedinSection11.04(c)hereof.
T&IAdvances:AdvancesexpendedbytheSellerforthepaymentoftaxesandinsuranceamountsduerelatedtothe
MortgageLoans,inaccordancewiththeapplicableServicingAgreement.
TerminationDate:June30,2013.
ThirdPartyClaim:ThemeaningspecifiedinSection11.01hereof.
Threshold:ThemeaningspecifiedinSection11.07(a)hereof.
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TrailingDocuments:MortgageLoanDocumentsthatarerequiredbyanInvestorpursuanttoApplicableRequirementsto
bepartoftheCollateralFilethat,asofthetimeofreference,are(i)inthecustodyofcounselinaccordancewithApplicable
Requirementsor(ii)havebeensubmittedforrecordingandhavenotyetbeenreturnedbytheapplicablerecordingoffice.
TransferConfirmation:Adocument,substantiallyintheformofExhibitBhereto,executedbytheSellerandthe
Purchaser,whichsetsforththeMortgageServicingRightstransferredtothePurchaserforServicingoneachServicing
TransferDate.
TransactionDocuments:TheTransferConfirmations,theTriPartyAgreementsandthisAgreement(including,ineach
case,anyandallexhibits,schedulesandattachmentstoanysuchdocumentsandanyotherdocumentsexecutedordelivered
inconnectiontherewith).
Transactions:ThesaleofthePurchasedAssetsbySellertoPurchaserandtheothertransactionscontemplatedbythis
Agreement.
TriPartyAgreements:AgreementsbyandamongSeller,PurchaserandeachofFHLMCandFNMA,providingfor
(amongotherthings)(a)SellersretentionofliabilityandresponsibilityforMortgageLoanrepurchaseandotherliabilities,
obligationsandremediesduetoFHLMCandFNMAinconnectionwiththeorigination,saleandpriorservicingofthe
MortgageLoanstheretoand(b)theconsentofFHLMCandFNMAtotheTransactions,asapplicable.
VA:TheUnitedStatesDepartmentofVeteransAffairsandanysuccessorthereto.
VABuydown:ThewaiverbyPurchaserofaportionoftheindebtednessofaMortgageLoan,whichcantaketheformofa
reductionoftheprincipal,acredittoescroworunappliedfunds,theforgivenessofaccruedinterestoranycombinationofthe
foregoing,andwhichcausesVAtopayofftheremainingamountoftheindebtednessowedandacquiretherelatedMortgaged
PropertyinlieuofelectingaVANoBid.
VALoan:ThemeaningspecifiedinSection11.01(d)hereof.
VANoBid:AnelectionbytheVAwithrespecttoaMortgageLoanthattheVAintendstopaytheVAguaranteeand
leavetheMortgagedPropertywiththeservicer.
Section1.02GeneralInterpretivePrinciples.
ForpurposesofthisAgreement,exceptasotherwiseexpresslyprovidedorunlessthecontextotherwiserequires:
(a)ThetermsdefinedinthisAgreementhavethemeaningsassignedtotheminthisAgreementandincludethe
pluralaswellasthesingular,andtheuseofanygenderhereinshallbedeemedtoincludetheothergender
(b)Accountingtermsnototherwisedefinedhereinhavethemeaningsassignedtotheminaccordancewithgenerally
acceptedaccountingprinciples
(c)ReferenceshereintoArticles,Sections,Subsections,Paragraphs,andothersubdivisionswithout
referencetoadocumentaretodesignatedArticles,Sections,Subsections,Paragraphsandothersubdivisionsofthis
Agreement
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(d)AreferencetoaSubsectionwithoutfurtherreferencetoaSectionisareferencetosuchSubsectionascontained
inthesameSectioninwhichthereferenceappears,andthisruleshallalsoapplytoParagraphsandothersubdivisions
(e)Thewordsherein,hereof,hereunderandotherwordsofsimilarimportrefertothisAgreementasawhole
andnottoanyparticularprovision
(f)Thetermincludeorincludingshallmeanwithoutlimitationbyreasonofenumerationand
(g)Anyandallcapitalizedtermswhicharenotdefinedhereinshallhavetheirrespectivemeaningssetforthinthe
ServicingAgreements.
ARTICLEII
SALEANDTRANSFEROFSERVICING
Section2.01ItemstobeSold.
Subjectto,anduponthetermsandconditionsofthisAgreement,Sellershall,ashereinafterprovided,sell,transfer,and
delivertoPurchaserallofSellersright,titleandinterestinandtotheMortgageServicingRights,includingitsright,titleand
interestinthePLSAccruedServicingFees,CustodialFunds,CollateralFilesandCreditandServicingFiles(collectively,the
PurchasedAssets),andPurchaseragreestopurchasesuchright,titleandinterestinandtothePurchasedAssets.Sellerand
PurchaseracknowledgeandagreethattheMortgageLoanSchedulewillbepreliminaryontheSaleDateorSubsequentSale
Date,asapplicable,andwillnotfullyaccountforMortgageLoansthateithermayhavebeenfullyprepaidpriortotheSale
DateorSubsequentSaleDate,asapplicable,orexcludedfromthetransactionasoftheSaleDateorSubsequentSaleDate,as
applicable,asaresultofthefinalapplicationofthepurchasecriteria.Nolaterthanten(10)BusinessDaysaftertheSaleDateor
SubsequentSaleDate,asapplicable,SellershallcompleteandprovidetoPurchaserafinalMortgageLoanSchedulewith
respecttotheMortgageServicingRightssoldontheSaleDateorSubsequentSaleDate,asapplicable.
Section2.02SaleDateandSubsequentSaleDates.
(a)PurchasedAssets.
(i)SubjecttothetermsandconditionsofthisAgreement,includingthereceiptoftheapplicableServicing
AgreementConsents,ontheSaleDateorSubsequentSaleDate,asapplicable,alllegal,beneficialandequitable
ownershipofandtotheapplicablePurchasedAssetsshallbesold,assigned,transferred,conveyedanddelivered
bySellertoPurchaser,andPurchasershallpurchasefromSeller,alllegal,beneficialandequitableownershipofand
tosuchPurchasedAssets,freeandclearofallliensprovided,however,thattheapplicableServicingTransferDate
maybelaterthantheSaleDate.
(ii)IfaServicingAgreementConsentforanyServicingAgreementisnotobtainedpriortotheSaleDate,butis
obtainedaftertheSaleDate,thenthesaleandpurchaseofthePurchasedAssetscontemplatedbySection2.01
relatingtosuchServicingAgreementshalltakeplaceataclosing(each,aSubsequentClosing)on
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thenextCutoffDateundertheapplicableServicingAgreementaftersuchServicingAgreementConsentisobtained
oratsuchothertimeasismutuallyagreeduponbytheParties(each,aSubsequentSaleDate).Thetermsand
conditionsofanysuchSubsequentClosingshallbeidenticaltothosesetforthhereinpertainingtotheClosingheld
ontheSaleDate,orasotherwisemutuallyagreeduponbytheParties,includingwithrespecttotheapplicable
portionofthePurchasePriceandanyadjustmentthereof,andSection3.01(d).
(iii)Fortheavoidanceofdoubt,iftheServicingAgreementConsentsforanyPLSServicingAgreementsarenot
obtainedpriortotheTerminationDate,thenthePurchasedAssetsrelatingtosuchPLSServicingAgreementsshall
notbepurchasedbyPurchaser.
(b)Deliverables.ThefollowingdocumentsshallbeexchangedbetweentheParties(asapplicable)onorpriortothe
SaleDateorSubsequentSaleDate,asapplicable:
(i)ThedulyexecutedcorporateresolutionsandcertificateofPurchaserrequiredbySections9.03and9.04
providedthatsuchresolutionsandcertificateofPurchaserwillberequiredtobedeliveredonlyonthefirst
SubsequentSaleDatewithrespecttothesaleofPLSMortgageServicingRightsunderanyofthePLSServicing
Agreements
(ii)ThedulyexecutedcertificateofSellerrequiredbySection8.06providedthatsuchcertificateofSellerwillbe
requiredtobedeliveredonlyonthefirstSubsequentSaleDatewithrespecttothesaleofPLSMortgageServicing
RightsunderanyofthePLSServicingAgreements
(iii)AllServicingAgreementConsentsobtainedonorpriortotheSaleDateorSubsequentSaleDate,as
applicable
(iv)TheexecutedTriPartyAgreementswithrespecttotheFNMAandFHLMCMortgageServicingRights,as
applicable
(v)AsaconditiontothesaleandtransferoftheMortgageServicingRightsrelatingtoanyPLSServicing
AgreementastowhichSellerdidnotpreviouslyprovidetoPurchaserasubstantivelytrueandcompletecopyor
electronicversionofsuchPLSServicingAgreementinaccordancewithSection5.01(c)(i)hereof,sufficient
informationregardingthetermsandconditionsofsuchPLSServicingAgreementtoenablethePurchasertoknow
withreasonablecertaintytheeconomictermscontemplatedtherebyandtheservicersobligationsthereunder,
including,fortheavoidanceofdoubt,withrespecttotheperformanceofallmaterialdutiesoftheservicerthereunder
(includingwithrespecttoforeclosureandrelatedmatters)andwhether(andhow)suchPLSServicingAgreement
maybeamendedtobedeemedanEligibleServicingAgreementand
(vi)AnyotherdocumentsrequiredbythisAgreementortheTriPartyAgreements.
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Section2.03ServicingTransferDates.
OneachServicingTransferDate:
(a)PurchasershallassumeresponsibilityforServicing,andSellershallceaseallServicingactivityrelatedtothe
MortgageLoanstransferredonsuchServicingTransferDate
(b)SellershallprovidePurchaserwithanexecutedPowerofAttorneyintheformattachedheretoasExhibitJtobe
usedbyPurchaserasnecessaryforPurchasertoservicetheapplicableMortgageLoanssubjecttoAgencyServicing
AgreementsinaccordancewithApplicableRequirements,ifpreviouslyprovidedPowersofAttorneyarenotsufficientfor
suchpurposesand
(c)PurchaserandSellershallexecuteaTransferConfirmationwithrespecttotheServicingoftheMortgage
ServicingRightstransferredonsuchServicingTransferDate.
Section2.04ServicingTransferInstructions.
InconnectionwitheachtransferoftheMortgageServicingRightsfromSellertoPurchaserpursuanttothisAgreement,
SellerandPurchasershallfollowtheServicingTransferInstructionsandtheServicingAgreementsinallmaterialrespects.In
anyinstanceinwhichtheServicingTransferInstructionsconflictwiththetermsofthisAgreement,thisAgreementshall
control.
ARTICLEIII
CONSIDERATION
Section3.01PurchasePrice.
(a)OnthefirstBusinessDayfollowingtheEffectiveDate,PurchasershallpaytotheEscrowAgenttheDeposit,as
anearnestmoneydepositofaportionoftheestimatedPurchasePriceforalloftheMortgageServicingRightsintendedto
besoldhereunder,bywiretransferofimmediatelyavailablefunds,whichshallbeheldbytheEscrowAgentin
accordancewiththeEscrowAgreement.
(b)InfullconsiderationforthesaleoftheMortgageServicingRightstobesoldpursuanttoSection2.02(a)(i)and
subjecttothetermsandconditionsofthisAgreement,PurchasershallpaytotheSellerthePurchasePriceinaccordance
withthisSection3.01,asfollows:
(i)OntheSaleDateorSubsequentSaleDate,asapplicable,PurchasershallpaytoSellerasumequaltofifty
percent(50%)oftheEstimatedPurchasePrice(whichshallbecalculatedinaccordancewithSection3.01(c)),minus,
withrespecttotheGNMAMortgageServicingRightsonly,$81,000,000,andnet,inallcases,oftheprorataportion
(inaccordancewithapplicableMortgageLoanbalancesasoftheSaleDate)oftheDepositwithrespecttothe
applicableServicingAgreement(s),ontheSaleDateimmediatelyfollowingtheClosingbywiretransferof
immediatelyavailablefederalfunds,toanaccountdesignatedbySeller,andSellerandPurchasershallpromptly
causetheEscrowAgenttoreleasesuchportionoftheDeposittoSellerassoonaspracticablethereafter.
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(ii)OntheapplicableServicingTransferDate,PurchasershallpaytotheSellerasumequaltotheportionofthe
PurchasePricewithrespecttotheMortgageServicingRightstransferredonsuchServicingTransferDatethathas
notbeenpaidtoSellerbyPurchaserasofsuchdate,includingwithrespecttoMortgageLoansthathaveprepaid
betweeneither(x)theSaleDateorSubsequentSaleDate,asapplicable,andtheinitialapplicableServicingTransfer
Dateor(y)twoServicingTransferDatespertainingtothesameMortgageServicingRights,plusinterestthereonat
theFederalFundsRatefortheperiodfromtheSaleDateorSubsequentSaleDate,asapplicable,tosuchServicing
TransferDateorbetweensuchServicingTransferDatesbywiretransferofimmediatelyavailablefederalfunds,toan
accountdesignatedbySeller.
(c)Nolaterthanthree(3)BusinessDayspriortotheSaleDate,SellershallcompleteandprovidetoPurchaser,the
(i)thepreliminaryMortgageLoanScheduleand(ii)theEstimatedPurchasePriceComputationWorksheetsettingforth
theEstimatedPurchasePrice,intheformofExhibitA1andbasedoninformationregardingtheMortgageLoansasofthe
previousmonthendtrialbalancethatisincludedinthepreliminaryMortgageLoanSchedule.
(d)Nolaterthanten(10)BusinessDaysaftertheSaleDate,SellershallcompleteandprovidetoPurchaser,the
(i)finalMortgageLoanScheduleand(ii)thePurchasePriceComputationWorksheetsettingforthSellerscomputationof
thePurchasePrice,intheformofExhibitA2andbasedoninformationregardingtheMortgageLoansasoftheSaleDate
thatisincludedinthefinalMortgageLoanSchedule.Withinfive(5)BusinessDaysafterdeliverytothePurchaserofthe
PurchasePriceComputationWorksheet,(A)theSellershallpaytoPurchaser(x)theamount,ifany,bywhichfiftypercent
(50%)oftheEstimatedPurchasePriceexceedsfiftypercent(50%)ofthePurchasePrice,plus(y)interestontheapplicable
amountcomputedpursuanttoclause(A)(x)aboveattheFederalFundsRatefortheperiodfromtheSaleDatetothedate
ofpaymentinfullofsuchamountor(B)PurchasershallpaytotheSeller(x)theamount,ifany,bywhichfiftypercent
(50%)ofthePurchasePriceexceedsfiftypercent(50%)oftheEstimatedPurchasePrice,plus(y)interestontheamount
computedpursuanttoclause(B)(x)aboveattheFederalFundsRatefortheperiodfromtheSaleDatetothedateof
paymentinfullofsuchamount.
(e)IntheeventthesaleofthePurchasedAssetsrelatedtoanyServicingAgreementisdelayedtoaSubsequentSale
DateinaccordancewithSection2.02(a)(ii),additionalEstimatedPurchasePriceComputationWorksheet(s)andPurchase
PriceComputationWorksheet(s)relatedtothePurchasedAssetstobesoldonsuchSubsequentSaleDateshallbe
delivered,andtheportionsoftheEstimatedPurchasePriceandPurchasePricetobepaidhereunderrelatedtothe
PurchasedAssetstobesoldonsuchSubsequentSaleDateshallbepaid,inaccordancewiththeprecedingprovisionsof
thisSection3.01asifsuchSubsequentSaleDateweretheSaleDatethereunder,netoftheportionoftheDepositwith
respecttotheapplicablePLSServicingAgreement(s),andSellerandPurchasershallpromptlycausetheEscrowAgentto
releasesuchportionoftheDeposittoSellerassoonaspracticablefollowingsuchSubsequentSaleDate.
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Section3.02ServicingTransferDatesandPaymentsforAdvances.
(a)OneachServicingTransferDate,(x)Sellershallceasetobetheservicer,undertheInterimServicingAddendum
orasowneroftheMortgageServicingRights,inrespectoftheapplicableMortgageLoansassetforthonSchedule
3.02(a)and(y)thephysicaltransferofServicingthereoftoPurchasershalloccuronthebooksandrecordsofthe
applicableInvestorprovided,however,thatinthecaseofbothclauses(x)and(y),withrespecttoanyMortgageLoans
thatareServicedpursuanttotheServicingAgreements,onlytotheextentthattheServicingAgreementConsentswith
respecttosuchServicingAgreementswereobtainedpriorthereto.Withinfive(5)BusinessDaysaftertheapplicable
ServicingTransferDateorsuchearlierperiodprovidedbelow,SellershallprovideorcausetobeprovidedtoPurchaser,
asapplicable:
(i)Oneormorereadabletapesorelectronicdatafiles,inaformandcontentasmutuallyagreed,withintwo
(2)BusinessDaysaftertheimmediatelyprecedingCutoffDate,toallowthePurchasertoservicesuchMortgage
LoansinaccordancewiththeapplicableServicingAgreementsfollowingsuchServicingTransferDate
(ii)SubstantiallyalloftheCreditandServicingFilesinthepossessionofSellerinaccordancewiththetermsof
theAgreement,oraccesstotheSellerswebportalcontainingsuchdocuments,thatarereasonablysufficientto
enablePurchasertoassumetheresponsibilityforandtoconducttheServicingofsuchMortgageLoansinall
materialrespectsfollowingsuchServicingTransferDate
(iii)SubstantiallyalloftheCollateralFilesrelatedtosuchMortgageLoansinthepossessionofSellers
Custodian,otherthanTrailingDocuments,whichmaybebyinternaldeliverywiththeCustodianifPurchasersand
SellersCustodianarethesameentity
(iv)WithrespecttosuchMortgageLoans,SellersaccountingtothePurchaseroftheRelatedEscrowAccount
funds,ofoutstandingT&IAdvances,suspense,andpartialandunappliedfunds,madeinaccordancewiththe
ServicingAgreementsandtheInterimServicingAddendumand
(v)TheTransferConfirmation.
(b)Withinseventeen(17)BusinessDaysfollowingeachServicingTransferDate,PurchasershallpaytheSeller,by
wiretransferofimmediatelyavailablefederalfundstoanaccountdesignatedbySeller,anamountequaltoonehundred
percent(100%)ofalldelinquentP&IAdvancesfundedorreimbursedbyoronbehalfoftheSellerundertheServicing
AgreementsrelatingtotheMortgageLoansastowhichtherelatedMortgageServicingRightsweretransferredonsuch
ServicingTransferDate,whichwereproperlymadebySellerunder,andtowhichSellerisentitledtoreimbursementof
pursuantto,suchServicingAgreements,andforwhichSellerhasnotpreviouslybeenreimbursedprovidedthatthe
followingconditionshavebeensatisfied:
(i)ThetransferofservicingfromtheSellertoPurchaserhasoccurredundertheAgreementpursuantto
Section3.02(a)and
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(ii)Withinseven(7)BusinessDayspriortotherequiredpaymentbyPurchaser,theSellerhasprovided
Purchaserwithcustomarydocumentationandsupport,whichmaybeinelectronicform,forallproperlymadeP&I
AdvancesastowhichSellerisentitledtorecovery,accruedbutnotrecoveredorreimbursedthroughthecloseof
businessofthedaypriortoeachServicingTransferDateincludingdocumentationrelatedtoloanleveldelinquentP
&IAdvancesprovidedthattherightofPurchasertowithholdpaymentforsuchP&IAdvancesforinsufficient
documentationandsupportshallapplyonlytotheP&IAdvanceswithrespecttotheMortgageLoanswithout
suchdocumentationandsupport.
(c)Withinthirty(30)BusinessDaysaftereachServicingTransferDate,PurchasershallpaytheSeller,bywire
transferofimmediatelyavailablefederalfundstoanaccountdesignatedbySeller,anamountequaltoonehundred
percent(100%)ofallCorporateAdvances,fundedbyoronbehalfoftheSellerundertheServicingAgreementsrelatingto
theMortgageLoansastowhichtherelatedMortgageServicingRightsweretransferredonsuchServicingTransferDate,
whichwereproperlymadebySellerunder,andtowhichSellerisentitledtoreimbursementofpursuantto,suchServicing
Agreements,andforwhichSellerhasnotpreviouslybeenreimbursedprovidedthatthefollowingconditionshavebeen
satisfied:
(i)ThetransferofservicingfromtheSellertoPurchaserhasoccurredundertheAgreementpursuantto
Section3.02(a)and
(ii)Nolaterthanseven(7)BusinessDayspriortotherequiredpaymentbyPurchaser,theSellerhasprovided
PurchaserwithcustomarydocumentationandsupportforallproperlymadeCorporateAdvancesastowhichSeller
isentitledtorecovery,accruedbutnotrecoveredorreimbursedthroughthecloseofbusinessofthedaypriorto
suchServicingTransferDateprovidedthattherightofPurchasertowithholdpaymentforsuchCorporate
AdvancesforinsufficientdocumentationandsupportshallapplyonlytotheCorporateAdvanceswithrespectto
theMortgageLoanswithoutsuchdocumentationandsupport.
(d)T&IAdvancesshallberecoveredbySellerinaccordancewithSection7.08.
(e)NotwithstandinganythinginthisAgreementtothecontrary,withrespecttoAdvancesmadebytheSeller
betweentheSaleDateorSubsequentSaleDate,asapplicable,andtheapplicableServicingTransferDate,Purchaser
shallreimburseSellerforordinarydeductionsfromthecalculationofeitherinsuranceorguarantybenefitsbyan
InsurerorreimbursementofAdvancesbyanInvestorassumingtheservicercompliedwithApplicableRequirements,
including,withoutlimitation,paymentofinterestbyFHAatthedebenturerateratherthantheMortgageNoterate
anddeductionsforaportionofexpensesandinterestprovided,that,fortheavoidanceofdoubt,Purchasershallnot
beliableunderthisSection3.02(e)totheextentthatanysuchamountsrelatetoactsoromissionsbySellerpriorto
suchapplicableServicingTransferDatethatarenotincompliancewiththeApplicableRequirements.Such
reimbursementfornonrecoverableAdvancesalsoshallincludenonrecoverableAdvancesthatarerequiredor
authorizedtobemadepursuanttoApplicableRequirementsprovided,inthecaseofsuchnonrecoverable
Advancesthatareauthorized(butnotrequired)tobemadepursuanttoApplicableRequirements,onlytotheextent
theyaremadeinamannerconsistentwithpastpractice.
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Section3.03CorrectionofErrors.
If,priortoorsubsequenttothepaymentofanyamountsdueunderthisArticleIIItoeitherParty,theoutstanding
principalbalanceofanyMortgageLoanoranyapplicableAdvanceisfoundtobeinerror,orifforanyreasonthePurchase
Priceorsuchotheramountsisfoundtobeinerror,orifanypaymentsmadeornotmadeundertheInterimServicing
Addendumarenotcorrect,thePartiesshallmutuallyagreetoanappropriateadjustment(andanassociatedreconciliation
statementorothersuchdocumentationwithrespecttosuchadjustment),andthePartybenefitingfromtheerrorshallpayto
theotherPartyanamountsufficienttocorrectandreconcilethePurchasePriceorsuchotheramounts,asmutuallyagreedby
theParties,andifthecorrectionistothePurchasePrice,suchpaymentshallbeaccompaniedbyapaymentofinterestonthe
applicableamountcomputedattheFederalFundsRatefortheperiodfromtheSaleDatetothedateofpaymentinfullofsuch
amount.SuchamountsshallbepaidbytheapplicablePartywithinten(10)BusinessDaysfromreceiptofsatisfactorywritten
verificationofamountsdueprovided,however,thatifthePartiescannotagreeonsuchamountswithinsuchten(10)Business
Dayperiod,adisputingPartyshallpromptlydelivertotheotherPartyawrittennoticespecifyingthenatureofitsdispute(in
reasonabledetail)andthePartiesshallpromptly(and,inanyevent,withinten(10)BusinessDaysthereafter)invokethe
disputeresolutionproceedingsetforthinSection12.10(i)hereof.
ARTICLEIV
REPRESENTATIONSANDWARRANTIESASTOSELLER
AsaninducementtoPurchasertoenterintothisAgreement,SellerrepresentsandwarrantstoPurchaserasofthe
EffectiveDateand,asapplicable,theSaleDateandanySubsequentSaleDateasfollows:
Section4.01DueOrganizationandGoodStanding.
Sellerisanationalassociationdulyorganized,validlyexistingandingoodstandingunderthelawsoftheUnitedStates.
SellerisauthorizedtotransactbusinessineachjurisdictioninwhichSellertransactsbusiness,andineachjurisdictionwherea
MortgagedPropertyislocated,inaccordancewithApplicableRequirements,exceptwherethefailuretobesoqualifiedhasnot
andwouldnotreasonablybeexpectedto,individuallyorintheaggregate,(A)resultinaSellerMaterialAdverseEffect,
(B)impairinanymaterialrespecttheabilityofSellertoperformitsobligationsunderthisAgreementortheTransaction
Documentsor(C)preventormateriallyimpedeordelaytheconsummationofanyoftheTransactions.
Section4.02AuthorityandCapacity.
Sellerhasallrequisitepower,authorityandcapacity,subjecttoapprovalsrequiredpursuanttoSection7.02andsuch
otherconsentsandapprovalsasarerequiredhereunder,toenterintothisAgreementandeachotherapplicableTransaction
Documentandtoperformtheobligationsrequiredofithereunderandthereunder.Theexecutionanddeliveryofthis
AgreementandeachotherapplicableTransactionDocument,andtheconsummationoftheTransactions,havebeendulyand
validlyauthorizedbyallnecessaryaction.ThisAgreementconstitutes,andeachotherapplicableTransactionDocument
constitutesorwillconstitute,avalidandlegallybindingagreementofSellerenforceableinaccordancewithitsterms,andno
offset,counterclaimordefense
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existstothefullperformancebySellerofthisAgreementorsuchotherTransactionDocument,exceptasthesamemaybe
limitedbybankruptcy,insolvency,reorganizationandsimilarlawsaffectingtheenforcementofcreditorsrightsgenerally,and
bygeneralequityprinciples.
Section4.03TitletothePurchasedAssets.
Selleris,orasoftheSaleDateoranySubsequentSaleDate,asapplicable,shallbe,thesoleandlawfulownerofallright,
titleandinterestinandtothePurchasedAssetssoldontheSaleDateoranysuchSubsequentSaleDateinaccordancewith
ApplicableRequirements,isresponsibleforthemaintenanceoftheRelatedEscrowAccountsandCustodialAccounts,and
has,orasoftheSaleDateoranySubsequentSaleDate,asapplicable,shallhave,thesolerightandauthority,subjecttoany
requiredServicingAgreementConsentsorotherwise,totransferthePurchasedAssetssoldontheSaleDateoranysuch
SubsequentSaleDate,includingtherightstoreimbursementforrelatedAdvancespaidforbyPurchaserascontemplated
hereby.Thetransfer,assignmentanddeliveryofthePurchasedAssets,includingtherightstoreimbursementforAdvances
paidforbyPurchaserandoftheRelatedEscrowAccountsandCustodialAccounts,asapplicable,shallvestinPurchaserall
rightstothePurchasedAssetsinaccordancewithApplicableRequirements,freeandclearofanyandallclaims,charges,
defenses,offsetsandencumbrancesofanykindornaturewhatsoever.
Section4.04EffectiveAgreements.
Theexecution,deliveryandperformanceofthisAgreementandtheotherTransactionDocumentsbySeller,compliance
withthetermshereofandthereof,andtheconsummationoftheTransactionswillnotviolate,conflictwith,resultinabreachof,
constituteadefaultunder,beprohibitedbyorrequireanyadditionalapprovalunderitscharterorbylaws,or,uponobtaining
theServicingAgreementConsents,anyinstrumentoragreementtowhichitisapartyorbywhichitisboundorwhichaffects
thePurchasedAssets,oranyApplicableRequirementsapplicabletoitortothePurchasedAssets,whichviolation,breachor
defaultwouldreasonablybeexpectedto(A)resultinaSellerMaterialAdverseEffect,(B)impairinanymaterialrespectthe
abilityofSelleroranyofitsapplicableAffiliatestoperformitsobligationsunderthisAgreementoranyoftheTransaction
Documentsor(C)preventormateriallyimpedeordelaytheconsummationoftheTransactionsorresultinthecreationor
impositionofanylien,chargeorencumbranceupon,anyPurchasedAssetsoranyoftheMortgageLoans.
Section4.05MembershipandStanding.
(a)MERSMembership.SellerisanapprovedmemberingoodstandingoftheMERSsystem.
(b)Seller/ServicerStanding.Selleris(i)anapprovedservicer,seller/servicerorissuer,asapplicable,ofmortgage
loansforHUD,FNMA,FHLMC,GNMA,FHA,RHSandVA,(ii)properlylicensedandqualifiedtodobusinessandin
goodstandingineachjurisdictioninwhichsuchlicensingandqualificationisnecessarytoactastheservicerunderany
oftheServicingAgreementsandapplicablelaw,and(iii)qualifiedtoactastheservicerundereachServicingAgreement,
andnoeventhasoccurredwhichwouldmakeanySellerunabletocomplywithallsucheligibilityrequirementsorwhich
wouldrequirenotificationtoFNMA,FHLMC,GNMA,FHA,RHSorVA.Sellerhasnotreceivedanywrittennoticefrom
anyGovernmentalEntitythatitintendstoterminateorrestrictSellersstatusasanapprovedservicerinitsprogramsfor
whichSellerisregistered,approvedorauthorized.
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Section4.06Consents,ApprovalsandCompliance.
ExceptfortheServicingAgreementConsents,thereisnorequirementapplicabletoSellertomakeanyfilingwith,orto
obtainanypermit,authorization,consentorapprovalof,anyPersonasaconditiontothelawfulperformancebySellerofits
obligationshereunder.
ARTICLEV
REPRESENTATIONSANDWARRANTIESASTO
PURCHASEDASSETS
SubjecttoandaslimitedbySection5.12,SellerrepresentsandwarrantstoPurchaserasoftheEffectiveDateand,as
applicable,theSaleDate,anySubsequentSaleDate,and,withrespecttoSection5.03only,theapplicableServicingTransfer
Date,asfollows,irrespectiveofeitherthetruthoraccuracyorsuchrepresentationsandwarrantiesorSellersorPurchasers
knowledgeofthetruthoraccuracyofsuchrepresentationsandwarranties:
Section5.01Servicing.
(a)Compliance.
(i)(A)EachMortgageLoanconformedandconformstotheApplicableRequirementsinallmaterialrespects,
andeachMortgageLoanwaseligibleforsaleto,insuranceby,orpoolingtobacksecuritiesissuedorguaranteedby,
orparticipationcertificatesissuedby,theapplicableInvestororInsureruponsuchsale,issuanceofinsuranceor
pooling,exceptineachcasewheresuchfailuretoconformorineligibilitywouldnotbethecontractualor
legalresponsibilityofthePurchaserasthetransfereeundertheapplicableServicingAgreementorbyvirtueofthe
applicableTriPartyAgreement(B)eachMortgageLoanhasbeenoriginated,underwrittenandservicedin
compliancewithallApplicableRequirementsinallmaterialrespects,exceptwheresuchlackofcompliancewouldnot
bethecontractualorlegalresponsibilityofthePurchaserasthetransfereeundertheapplicableServicingAgreement
orbyvirtueoftheapplicableTriPartyAgreementand(C)SellerisnototherwiseindefaultwithrespecttoSellers
obligationsundertheApplicableRequirements.
(ii)EachMortgageLoanthatisidentifiedashavingFHAinsuranceontheMortgageLoanScheduleorthatis
requiredtohaveFHAinsurancehassuchFHAinsuranceunderthestandardprovisionsoftheFHAprogram.Each
MortgageLoanthatisidentifiedasaVAguaranteedMortgageLoanontheMortgageLoanScheduleorthatis
requiredtobesoguaranteedissoguaranteedbytheVA,underthestandardprovisionsoftheVAprogram.Each
MortgageLoanwhichisrequiredpursuanttoApplicableRequirementsorwhichisrepresentedbySellertohave
mortgageinsuranceoraguarantycertificatehassuchmortgageinsuranceoraguarantycertificate,exceptwherethe
lackofsuchmortgageinsuranceoraguarantycertificatewouldnotbethecontractualorlegalresponsibilityofthe
PurchaserastransfereeundertheapplicableServicingAgreementorbyvirtueoftheapplicableTriPartyAgreement,
andhasanaccurateholderidentificationforpurposesoffiling
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claims.Allprovisionsofsuchinsurancepoliciesorguaranteeshavebeenandarebeingcompliedwithinallmaterial
respects,allpremiumsduethereunderhavebeenpaid,andsuchpoliciesand/orguaranteeareinfullforceandeffect,
exceptwherethelackofcomplianceorthelapseorinvalidityofpoliciesorguaranteeswouldnotbethecontractual
orlegalresponsibilityofthePurchaserastransfereeundertheapplicableServicingAgreementorbyvirtueofthe
applicableTriPartyAgreement.
(iii)Schedule5.01(a)(iii)setsforthalljudicialandadministrativejudgments,orders,remediationplans,
stipulations,awards,writsandinjunctionsapplicabletoanyMortgageLoanorMortgageServicingRightforwhich
PurchaserislegallyorcontractuallyresponsibleasthetransfereeoftheMortgageServicingRights.
(b)ServicingRights.
(i)Sellerownsallright,titleandinterestinandtotheMortgageServicingRightsfreeandclearofallliens,and
hasthesolerighttoactasservicerwithrespecttotheMortgageLoanspursuanttoandsubjecttothetermsand
conditionsoftheServicingAgreements.
(ii)Sellerhasnotengagedanysubservicers,subcontractorsorotheragentstoperformanyofitsdutiesunder
anyoftheServicingAgreements,otherthanengagementsthatarepermittedby,andareincomplianceinallmaterial
respectswiththerequirementsof,theapplicableServicingAgreements,andallfeesandexpensesdueandpayable
toanysuchsubservicer,subcontractororagentasoftheSaleDateoranySubsequentSaleDateinconnection
therewithhavebeenpaid,orwillbepaidbeforeoverdue,bySeller.
(c)ServicingAgreements.
(i)Schedule5.01(c)(i)containsapreliminarylistofallPLSServicingAgreementsineffect,andtheSellershall
deliverafinallistofsuchServicingAgreementswithinthirty(30)daysoftheexecutionofthisAgreement.Sellerhas
heretoforemadeavailabletoPurchasertrueandcompletecopiesorelectronicversionsofeachsuchServicing
AgreementonSchedule5.01(c)(i),andshallmakesubstantivelytrueandcompletecopiesorelectronicversionsof
eachsuchServicingAgreementtobeaddedtothefinalSchedule5.01(c)(i)asfound.
(ii)NoneoftheAgencyServicingAgreementsimposetermsandconditionsthatmateriallyincreasethe
obligationsinconnectionwiththeServicingoftheMortgageLoansbeyondthatstatedintheapplicableGuidesand
thatwouldapplytothePurchaserasthetransfereeoftheMortgageServicingRights.
(iii)ExceptaswouldnotreasonablybeexpectedtomateriallyimpairtheabilityofPurchasertorealizethe
economicbenefitsassociatedwiththeTransactions,eachServicingAgreementisavalidandbindingobligationof
theSeller,isinfullforceandeffect,andisenforceablebySellerinaccordancewithitsterms,subjecttoapplicable
bankruptcy,insolvencyandsimilarlawsaffectingcreditorsrightsgenerally,andsubject,astoenforceability,to
generalprinciplesofequity,whetherappliedinacourtoflaworacourtofequity.
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(iv)NoneoftheotherpartiestoanyoftheServicingAgreementshaveprovidedwrittennoticetotheSellerthat
suchpartywillterminate,modifyoramendanyoftheServicingAgreementsortheSellersbenefitsortheMortgage
ServicingRightsunderanyoftheServicingAgreements.
(d)MortgagePools.AllpoolsofMortgageLoanshavebeeninitiallycertified,andallsuchpoolsshallbe,when
transferredtoPurchaser,eligibleforfinalcertificationand/orrecertification,asapplicable,andineachcaseonlyifrequired
byApplicableRequirements,byPurchaserortheCustodianinaccordancewithApplicableRequirementsand,forthe
avoidanceofdoubt,eachMortgageLoanincludedinaGNMAMortgagePoolmeetsalleligibilityrequirementsofGNMA
forinclusioninsuchGNMAMortgagePool,andeachsuchGNMAMortgagePoolisproperlybalancedandfullyfunded.
TheCollateralFilestobedeliveredtoPurchaserwillincludealldocumentscustomarilyavailableasofthetimeofdelivery
thatarenecessaryinorderforPurchaserortheCustodiantofinallycertifyand/orrecertifythepoolsofMortgageLoans,
ifrequiredbyandinaccordancewiththeApplicableRequirements,exceptforthosedocumentsthatarerequiredasa
resultoftheTransactions.
Section5.02RecourseStatus.
AlloftheMortgageLoansshallbewithoutRecoursetoPurchaserasthetransfereeoftheMortgageServicingRights.
Section5.03Advances.
(a)AllAdvancespaidforbyPurchasertoSellerornetagainstamountspaidoverbySellertoPurchaserhereunder
weremadeandareeligibleforreimbursementinaccordancewithApplicableRequirements,exceptasprovidedin
Section3.02(e)hereof,arecarriedonthebooksofSelleratvaluesdeterminedinaccordancewithgenerallyaccepted
accountingprinciples,arenotsubjecttoanysetofforclaimthatcouldbeassertedagainstSeller,ortoSellers
Knowledge,Purchaser,andSellerhasnotreceivedanynoticefromanyInvestor,oranyInsurerorotherPersoninwhich
suchInvestor,InsurerorPersondisputesordeniesaclaimbySellerforreimbursementinconnectionwithanAdvance.
(b)NoAdvancehasbeensold,transferred,assignedorpledgedbySellertoanyPersonotherthanPurchaser.Seller
hasnottakenanyactionthat,orfailedtotakeanyactiontheomissionofwhich,wouldmateriallyimpairtherightsof
PurchaserwithrespecttoanysuchAdvance.
Section5.04AccuracyofInformation.
Theinformation(i)inthedatatapesprovidedbySeller,oritsagents,toPurchaseronNovember30,2012,and(ii)inthe
MortgageLoanSchedulespertainingtotheMortgageLoans,AdvancesandtheMortgageServicingRights,istrueandcorrect
inallmaterialrespectsasofthedatesindicatedtherein.TheMortgageLoanSchedulescontaininallmaterialrespectsa
completeandaccuratelistofalloftheMortgageServicingRightssoldorintendedtobesold,andtherelatedMortgageLoans,
asofthedatesindicatedtherein.
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Section5.05DeliveryofInformation.
TheCollateralFileandCreditandServicingFileforeachMortgageLoancollectivelycontainalldocumentsand
instrumentsrequiredbytheApplicableRequirementsforservicingsuchMortgageLoaninallmaterialrespectsinaccordance
withApplicableRequirementswithoutunreasonableexpenseordelaywhichwouldbecausedsolelybytheconditionofthe
CollateralFileortheCreditandServicingFile.
Section5.06Repurchase.
ThereisnopendingclaimordemandagainstSellerforrepurchaseofanyMortgageLoan,orrescissionofanyMIor
denialofanMIclaim.
Section5.07ServicingFeeNotSold.
NoportionofthebaseminimumServicingFeerequiredunderaServicingAgreementpayablebyanyInvestorin
connectionwiththeMortgageServicingRightsonanyMortgageLoanhasbeensold,transferred,assignedorpledgedby
SellertoanythirdpartyotherthanPurchaser.
Section5.08Damage,Condemnation,andRelatedMatters.
ThereexistsnophysicaldamagetoanyMortgagedPropertyfromfire,flood,windstorm,earthquake,tornado,hurricaneor
anyothersimilarcasualty,whichphysicaldamageisnotadequatelyinsuredagainstorwouldmateriallyandadverselyaffect
thevalueofanyPurchasedAssetsoranyMortgagedProperty,ortheeligibilityofanyMortgageLoanforinsurancebenefits
byanyInsurer,exceptwheretheexistenceofsuchphysicaldamagewouldnotbethecontractualorlegalresponsibilityof,or
resultinanyliabilityto,thePurchaserastransfereeundertheapplicableServicingAgreementorbyvirtueoftheapplicableTri
PartyAgreement.
Section5.09NoPurchaserResponsibility.
NotwithstandingthesaleofthePurchasedAssetstoPurchaser,ifandtotheextentandasprovidedintheTriParty
Agreementsasandwhenexecuted,SellerretainsanyremainingobligationstoFNMAandFHLMCastherelatedInvestor
undertheServicingAgreementswithFNMAandFHLMC,includingrepurchase,indemnificationandmakewholeobligations,
inrespectofabreachofthesellingrepresentationsandwarrantiesinconnectionwiththesaleoftheMortgageLoansto
FNMAandFHLMC,or,solelywithrespecttoFHLMC,thefailureofSellerorpriorservicerstocomplywiththeservicing
obligationswithrespecttotherelatedMortgageLoanspriortotheapplicableServicingTransferDate.
Section5.10RelatedEscrowandCustodialAccounts.
AllRelatedEscrowAccountsandCustodialAccountsarebeingandhavebeenmaintainedinaccordancewiththe
ApplicableRequirements.ExceptastopaymentswhicharepastdueunderMortgageNotes,allbalancesrequiredbythe
MortgagesorotherMortgageLoandocumentsandpaidtoSellerfortheaccountoftheMortgagorsareondepositinthe
appropriateRelatedEscrowAccountorCustodialAccount.
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Section5.11HighCostLoans.
NoMortgageLoanisclassifiedasahighcostmortgageunderSection32oftheHomeOwnershipandEquityProtection
Actof1994orisconsideredahighcostmortgageloanorhighercostmortgageloanunderanyotherapplicablelaw
applicableatthetimetheloanwasoriginatedoranyapplicableInvestorsantipredatorylendingpolicyatthetimeof
origination.
Section5.12SolePurposeofArticleVRepresentationsandWarranties.
PurchaseracknowledgesthatSellerisprovidingtherepresentationsandwarrantiesinArticleVofthisAgreementsolely
forpurposesofestablishingthebasisonwhichclaimsforindemnificationmaybebroughtunderthisAgreementforLosses
resultingfromorarisingoutanybreachofanysuchrepresentationsandwarrantiesbySeller,irrespectiveofwhetherSeller
knowsorshouldknowofsuchbreachandwithoutdisclosureofanysuchknowledge.PurchaserandSellerfurther
acknowledgethatsomeoralloftherepresentationsandwarrantiesinArticleVmaybeuntrue,includinginallmaterialrespects,
andthatPurchaserand/orSeller(asaresultofSellersduediligenceorotherwise)mayhaveactualknowledgeoffacts
renderingsomeofsuchrepresentationsandwarrantiesuntrue,includinginallmaterialrespects.Innoeventshallabreachof
anyofSellersrepresentationsandwarrantiesunderthisAgreement,orSellersknowledgeorlackofdisclosurethereof,be
usedasevidenceoforbedeemedtoconstitutebadfaith,misconduct,misrepresentationorfraudbySeller,norshall
PurchasersknowledgeofanysuchbreachorlackofdisclosurebySellerlimitinanywayPurchasersrightstoseek
indemnificationunderthisAgreement.Purchaseracknowledgesthatitssoleremedyforanybreachofanyrepresentationor
warrantyinArticleVisaclaimforindemnificationunderthisAgreement.
ARTICLEVI
REPRESENTATIONSANDWARRANTIESOFPURCHASER
AsaninducementtoSellertoenterintothisAgreement,PurchaserrepresentsandwarrantsasoftheEffectiveDate,the
SaleDateandanySubsequentSaleDateasfollows:
Section6.01DueOrganizationandGoodStanding.
Purchaserisalimitedliabilitycompanydulyorganized,validlyexistingandingoodstandingunderthelawsoftheState
ofDelaware.Purchaserisqualifiedtotransactbusinessineachjurisdictioninwhichsuchqualificationisdeemednecessaryto
servicetheMortgageLoansandhasallrelatedlicenses,registrations,permits,andapprovalsrequiredinaccordancewith
ApplicableRequirements,exceptwherethefailuretobesoqualifiedhasnotandwouldnotreasonablybeexpectedto,
individuallyorintheaggregate,(A)resultinaPurchaserMaterialAdverseEffect,(B)impairinanymaterialrespecttheability
ofPurchasertoperformitsobligationsunderthisAgreementortheTransactionDocumentsortoacquireandoperatethe
PurchasedAssetsor(C)preventormateriallyimpedeordelaytheconsummationofanyoftheTransactions.
Section6.02AuthorityandCapacity.
Purchaserhasallrequisitelimitedliabilitycompanypower,authorityandcapacity,subjecttoapprovalsrequiredpursuant
toSection7.02andsuchotherconsentsandapprovalsasarerequiredhereunder,toenterintothisAgreementandeachother
applicableTransactionDocumentandtoperformtheobligationsrequiredofithereunderandthereunder.Theexecutionand
delivery
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ofthisAgreementandeachotherapplicableTransactionDocument,andtheconsummationoftheTransactions,havebeen
dulyandvalidlyauthorizedbyallnecessaryaction.ThisAgreementconstitutes,andeachotherapplicableTransaction
Documentconstitutesorwillconstitute,avalidandlegallybindingagreementofPurchaserenforceableinaccordancewithits
terms,andnooffset,counterclaimordefenseexiststothefullperformancebyPurchaserofthisAgreementorsuchother
TransactionDocument,exceptasthesamemaybelimitedbybankruptcy,insolvency,reorganizationandsimilarlawsaffecting
theenforcementofcreditorsrightsgenerallyandbygeneralequityprinciples.
Section6.03EffectiveAgreements.
Theexecution,deliveryandperformanceofthisAgreementbyPurchaser,itscompliancewiththetermshereofandthe
consummationoftheTransactionswillnotviolate,conflictwith,resultinabreachof,constituteadefaultunder,beprohibited
byorrequireanyadditionalapprovalunderitscertificateofformation,limitedliabilitycompanyagreement,orother
organizationaldocumentsandagreements,or,uponobtainingInvestorsapprovals,anyinstrumentoragreementtowhichitis
apartyorbywhichitisboundorwhichaffectsthePurchasedAssets,oranyApplicableRequirementsapplicabletoitortothe
PurchasedAssets.
Section6.04SophisticatedPurchaser.
ThePurchaserisasophisticatedinvestoranditsbidanddecisiontopurchasetheServicingRightsisbaseduponthe
Purchasersownindependentexperience,knowledge,duediligenceandevaluationoftheTransactions.ThePurchaserhas
reliedsolelyonsuchexperience,knowledge,duediligenceandevaluationandhasnotreliedonanyoralorwritteninformation
providedbySellerorSellersagentsotherthantheOfferingMaterialsandtherepresentationsandwarrantiesmadebySeller
herein.
Section6.05Purchaser/ServicerStanding.
Purchaseris(i)anapprovedservicer,seller/servicerorissuer,asapplicable,ofmortgageloansforHUD,FNMA,FHLMC,
GNMA,FHA,RHSandVAandisingoodstandingwiththerequisitefinancialcriteriaandadequateresourcestocompletethe
Transactionsontheconditionsstatedherein,(ii)properlylicensedandqualifiedtodobusinessandingoodstandingineach
jurisdictioninwhichsuchlicensingandqualificationisnecessarytoactastheservicerunderalloftheServicingAgreements
andapplicablelaw,(iii)anapprovedservicerforanynationallyrecognizedInsurersprovidingMIontheMortgageLoans,and
(iv)qualifiedtoactas,andsatisfiesallthecriteriaforactingas,theservicerundereachServicingAgreement,andnoeventhas
occurredwhichwouldmakePurchaserunabletocomplywithallsucheligibilityrequirementsorwhichwouldrequire
notificationtoHUD,FNMA,FHLMC,GNMA,FHA,RHSorVA.Purchaserhasnotreceivedanywrittennoticefromany
GovernmentalEntitythatitintendstoterminateorrestrictPurchasersstatusasanapprovedservicerinitsprogramsforwhich
Purchaserisregistered,approvedorauthorized.
Section6.06MERSMembership.
PurchaserisanapprovedmemberingoodstandingoftheMERSsystem.
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Section6.07FinancialAbility.
Purchaserwillhave(whenrequiredunderthisAgreement)immediateaccesstoallfundsnecessarytopaythePurchase
PriceandrelatedfeesandexpensesandPurchaserwillhave(whenrequiredunderthisAgreement)thefinancialcapacityto
performallofitsotherobligationsunderthisAgreement.
Section6.08NoRegulatoryImpediment.
ToPurchasersknowledge,thereisnofactorcircumstancerelatingtoPurchasersbusiness,operations,financial
conditionorlegalstatusthatmightreasonablybeexpectedtoimpairinanymaterialrespectitsabilitytoobtainallconsents,
orders,authorizations,andapprovalsfromanygovernmentalauthoritynecessaryfortheconsummationofthepurchaseofthe
MortgageServicingRightswithinthetimeperiodcontemplatedbythisAgreement.
Section6.09Consents,ApprovalsandCompliance.
ExceptfortheServicingAgreementConsents,thereisnorequirementapplicabletoPurchasertomakeanyfilingwith,or
toobtainanypermit,authorization,consentorapprovalof,anyPersonasaconditiontothelawfulperformancebyPurchaser
ofitsobligationshereunder.
Section6.10ServicerParticipationAgreement.
PurchaserisapartyingoodstandingtoaServicerParticipationAgreementwithFNMA,actingonbehalfoftheU.S.
DepartmentoftheTreasury,fortheimplementationofHAMP,andsuchServicerParticipationAgreementisnotsubjecttoany
terminationbasedonabreachordefaultbyPurchaser.
ARTICLEVII
COVENANTS
Section7.01Assignments.
(a)WithrespecttothoseMortgageLoansregisteredwithMERSasoftheSaleDateoranySubsequentSaleDate,as
applicable,Sellershall,withinfourteen(14)daysoftheapplicableServicingTransferDate,notifyMERS,inaccordance
withMERSoperatingprocedures,ofthesaleoftheMortgageServicingRights,andshallberesponsibleforthefeesof
MERSrelatedtoreflectingPurchaserastheowneroftheMortgageServicingRights.SellershallprovidePurchaserorits
designeewiththeMERSmortgageloanidentificationnumberforeachMERSregisteredMortgageLoanpursuantto
Section7.07.
(b)Withinninety(90)daysaftereachServicingTransferDate,Seller,atitsexpense,shallprepareandsendfor
recordationAssignmentsofMortgage(whichinallcasesshallbeaccompaniedwithacheckattachedtheretointhe
appropriateamountforpaymenttherefor)foranyrelatedMortgageLoanthatisnotassignedofrecordtoandregistered
withMERSasofsuchServicingTransferDate,incompliancewiththeapplicableServicingAgreementsandtheprotocol
detailedonExhibitIprovided,that,priortosuchServicingTransferDate,SellerandPurchasershallmutuallyagreetoa
listofsuchrelatedMortgageLoans(andSellershallprovidePurchaserwithanydocumentationreasonably
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requestedbyPurchaserinconnectiontherewith)provided,further,that,inthecaseofanysuchrelatedMortgageLoans
subjecttoforeclosureproceedings,suchAssignmentsofMortgageshallnotberecorded,butshallbesentbySellerto
eitherPurchaserortheapplicableforeclosureattorney(atPurchasersdirection).Sellershallindicatetotheapplicable
recordingofficethatrecordedAssignmentsofMortgageshouldbereturnedtoPurchaser,andPurchasershallhave
responsibilityfortrackingtherecordingandreturnoftheAssignmentsofMortgage.Sellershallassurethatallnecessary
documentationpursuanttoApplicableRequirementsrelatedtodemonstratingthechainoftitleforallloansisavailable,
andprovided,forPurchasersuse,andifanysuchdocumentationisinadequateshalltimelycreate,makeavailableand
providesuchdocumentationforPurchaser,andtakesuchstepsasnecessaryto,properlyrecord,assignorendorsethe
MortgageLoansandtheMortgageServicingRights.IntheeventthatanysuchAssignmentofMortgagepreparedby
SellerpursuanttothisSection7.01(b)isreasonablydeterminedbyPurchasertobedeficient,Sellershallpromptly
reimbursePurchaserforitsreasonableoutofpocketcosts(whichcostsinclude,fortheavoidanceofdoubt,reasonable
feesofthirdpartyvendorswhichmaybeoutsidecounsel)torectifysuchAssignmentofMortgageandresenditfor
recordation.
(c)PriortotheapplicableServicingTransferDate,SellershallprovidePurchaserwithalistofthenamesofeach
predecessororAffiliate(orpredecessorofeachsuchAffiliate)ofSeller(ineachcase,includinganyformernamesthereof)
thatmayberelevanttoPurchasersverificationofthechainoftitleofanyMortgagedProperty.
Section7.02ServicingAgreementConsentsandNotices.
FromthedatehereofuntiltheSaleDate,theSellershalluseitscommerciallyreasonableeffortstoobtaintheServicing
AgreementConsentsonorpriortotheSaleDate(includingbyusingsucheffortstomailtherequiredconsentrequeststothe
applicablethirdpartiesassoonasreasonablypracticablefollowingtheEffectiveDate),andPurchasershalluseits
commerciallyreasonableeffortstocooperatewiththeSellertoobtainsuchServicingAgreementConsents.IfanyServicing
AgreementConsentisnotobtainedonorpriortotheSaleDatewithrespecttoanyServicingAgreement,Sellershallcontinue
touseitscommerciallyreasonableeffortstoobtainsuchServicingAgreementConsentuntiltheTerminationDate,and
PurchasershallcontinuetouseitscommerciallyreasonableeffortstocooperatewiththeSellertoobtainsuchServicing
AgreementConsentduringsuchperiod.PriortoeachServicingTransferDate,PurchaserandtheSellershall(i)execute(or
causetobeexecuted)anddeliverthedocumentsrequiredbytheapplicableInvestorsinconnectionwiththetransferofthe
relatedMortgageServicingRightsand,asapplicable,theServicingAgreements,hereunder,informandsubstancereasonably
satisfactorytobothParties,and(ii)cooperatewitheachothertotransfer(totheextentpermittedbytheapplicableInvestor)
fromSellertoPurchaserthebenefitofanywaiversgrantedbyInvestorsdirectlyrelatedtoServicingtheMortgageLoans
(which,fortheavoidanceofdoubt,includeswaiversrelatedtoCollateralFiles),includingwithrespecttoMortgageLoan
DocumentsrequiredtobeheldintheCollateralFile.Inaddition,fromthedatehereofuntiltheSaleDateoranySubsequent
SaleDate,asapplicable,theSellershalluseitscommerciallyreasonableeffortstoprovideallnoticestothirdpartiesrequired
undertheServicingAgreementsinconnectionwiththeTransactions.FromthedatehereofuntiltheTerminationDate,Seller
shallprovidetoPurchaserareportandreasonableevidenceonaperiodicbasis(nolessfrequentlythanmonthly)ofitsreceipt
oftheServicingAgreementConsents.
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Section7.03TransferNotices.
(a)SellershallprovideservicingtransfernoticesandanyothersimilarnoticestotheMortgagorsasmayberequired
undertheApplicableRequirements,includingtheFederalRealEstateSettlementProceduresActcodified2601etseq.
andimplementedbyRegulationX,24C.F.R.Part3500.Withinfifteen(15)daysfollowingeachServicingTransferDate,
butnotbeforeanysuchServicingTransferDateunlessagreedtoinwritingbySeller,thePurchasershalldelivertoeach
relatedMortgagoraWelcomeLetterinaccordancewiththeApplicableRequirementsandatPurchasersowncostand
expense.Nolessthanthree(3)weekspriortosuchServicingTransferDate,eachPartyshallsubmittotheotherPartyits
formofsuchWelcomeLetterorGoodbyeLetterforreviewandapproval.PurchasershallnotcontactanyMortgagors
priortosuchServicingTransferDateunlessagreedtoinwritingbySeller.
(b)Withinthirty(30)daysaftereachServicingTransferDate,(i)theSellershall,inaccordancewithapplicable
Insurerrequirements,providewrittennoticeofthetransfertoanyInsurerrequiringsuchnoticeprovided,however,that
theSellermaygiveaggregatenoticewheneverpossible,and(ii)theSellershallnotifyrelatedtaxbillservicesofthe
transfer.TheformofallnoticesbytheSellerpursuanttothisSection7.03(b)shallbesubjecttothereviewandreasonable
approvalofthePurchaseruponPurchasersrequest.
(c)IfrequiredbyanInvestor,andmutuallyagreedbytheParties,Purchasermaymakeone(1)postServicing
TransferDateACHorotheralternativeformofwithdrawalwithrespecttoeachMortgagorunderaMortgageLoanowned
bysuchInvestorspecifiedbySellerbyamutuallyagreeddate,basedontheACHinformationprovidedbySeller.
PurchasershallobtainanewauthorizationfromeachsuchMortgagorinaccordancewithApplicableRequirementsprior
tomakinganyACHorotheralternativeformsofwithdrawalsotherthansuchmutuallyagreedone(1)postServicing
TransferDateACHorotheralternativeformofwithdrawal.NotwithstandinganythingtothecontraryinanyTransaction
Documents,PurchaseracknowledgesandagreesthatSellershallnotberesponsibleforPurchaserscompliancewith
ApplicableRequirementsinusingsuchinformationforanypostServicingTransferDateACHorotheralternativeformof
withdrawal,orliabletoPurchaserforanyLossesresultingtherefrom.
(d)InconnectionwithanyMortgageLoanssubjecttobankruptcyproceedings,thePurchasershallfiletransfersof
claimsasrequiredbyApplicableRequirements,includingRule3001(e)oftheFederalRulesofBankruptcyProcedure
provided,thatSellershallpromptlydelivertoPurchaser(uponPurchasersrequest)anyinformationanddocumentation
thatisreasonablynecessaryforPurchasertocomplywiththisSection7.03(d)providedfurther,that,intheeventSeller
failstodeliverapplicableproofofclaimrelatedinformation(whichinformationshallincludeaccuratepostpetitiondue
dateandproofofclaimdata)withinthirty(30)daysfollowingeachapplicableServicingTransferDatetoPurchaser
(whetherornotrequestedthereby),SellershallpromptlyreimbursePurchaserforanyexpenseinexcessof$15.00,butno
morethan$50.00,perMortgageLoansubjecttobankruptcyproceedingsincurredbyPurchaserincomplyingwiththis
Section7.03(d)asaresultofnotreceivingsuchproofofclaimrelatedinformation.TheformofallnoticesbyPurchaser
pursuanttothisSection7.03(d)shallbesubjecttothereviewandreasonableapprovalofSelleruponSellersrequest.
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Section7.04RealEstateTaxingAuthorities.
(a)PriortoeachapplicableServicingTransferDate,Sellershallberesponsibleforanytaxpenaltiesincurreddueto
incorrectormissingtaxrecordsprocessedorprovidedbySellerorSellerstaxserviceagenttoPurchaser.
(b)IfaMortgageLoanisescrowed,Sellershallpayorcausetobepaid,priortoeachapplicableServicingTransfer
Date,alltaxbills(includinganyapplicablepenaltiesandinterest)withtaxduedatespriortoorwithinthirty(30)calendar
daysfollowingsuchServicingTransferDate,butonlyifthetaxbillwasissuedbythetaxingauthorityatleastthirty
(30)calendardayspriortosuchServicingTransferDate.Purchasershallpayorcausetobepaidallothertaxbillswhen
due.Sellerwillpromptlyforwardtaxbillsissuedbythetaxingauthoritylessthanthirty(30)calendardayspriortosuch
ServicingTransferDate,tobepaidbyPurchaser.
(c)PurchasershallnotberesponsibleforanytaxpenaltiesonescrowedMortgageLoans(includinganylossof
discountforwhichaMortgagororanythirdpartyforthebenefitoftheMortgagorhasalegalclaim)onMortgageLoans
forwhichtherelatedtaxduedateoccurspriortoorwithinthirty(30)calendardaysfollowingeachapplicableServicing
TransferDate,butonlyifthetaxbillwasissuedbythetaxingauthorityatleastthirty(30)calendardayspriortosuch
ServicingTransferDate.Purchasershallberesponsibleforanyothertaxpenalties.
(d)ForallescrowedMortgageLoans,SellershallprovidetoPurchaserwithintwo(2)BusinessDaysaftereach
applicableServicingTransferDateacurrentlistofsuchMortgageLoansthathavetaxesorassessmentsthatweredue
priortoorwithinsixty(60)calendardaysaftersuchServicingTransferDateandnotpaid,andPurchasershallbe
responsibleforpaymentthereofwhendue.
(e)IfSellerdoesnotprovidetoPurchaseralifeofloantaxservicecontractforaMortgageLoan,Sellershallprovide
allinformationrequiredbyPurchaserorPurchaserstaxmonitoringvendorwithrespecttosuchrealestatetaxes.
Section7.05Hazard,MortgageandFlood.
(a)ForallescrowedMortgageLoans,Sellershallpayorcausetobepaid,priortoeachapplicableServicingTransfer
Date,allinsurancebillswithpolicyduedatespriortoorwithinthirty(30)calendardaysfollowingsuchServicingTransfer
Date,ifsuchinsurancebillshavebeenissuedbyinsurancecompaniesatleastthirty(30)calendardayspriortosuch
ServicingTransferDate.Purchasershallpayorcausetobepaidallotherinsurancebills.Sellerwillpromptlyforward
insurancebillsissuedbytheinsurancecompanieslessthanthirty(30)calendardayspriortosuchServicingTransfer
Date,tobepaidbyPurchaser.
(b)ForallescrowedMortgageLoans,SellershallprovidetoPurchaserwithintwo(2)BusinessDaysaftereach
applicableServicingTransferDateacurrentlistofMortgageLoansthathavehazardandMIinsurancepremiumsand/or
assessmentsthatareduepriortoorwithinsixty(60)calendardaysaftersuchServicingTransferDateandnotpaid,and
Purchasershallberesponsibleforpaymentthereofwhendue.
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(c)ForallescrowedMortgageLoans,SellershallprovidetoPurchaserwithintwo(2)BusinessDaysaftereach
applicableServicingTransferDateacurrentlistofMortgageLoansthathavefloodinsurancepremiumsand/or
assessmentsthatwereduepriortoorwithinsixty(60)calendardaysaftersuchServicingTransferDateandnotpaid,and
Purchasershallberesponsibleforpaymentthereofwhendue.
(d)SellershallprovideallinformationrequiredbyPurchaserorPurchasersfloodservicemonitoringvendorwith
respecttosuchfloodinsurance.
Section7.06DeliveryofMortgageLoanDocumentationandInformation.
(a)SellershallprovidePurchaserwithpriorwrittennoticeofthecarrier,shippingarrangementsandinsurance
arrangements,ifapplicable,withrespecttothedeliveryoftheCollateralFilesandCreditandServicingFileswithrespect
totheMortgageLoans.
(b)Withinfive(5)BusinessDaysafterreceiptofaTrailingDocumentbySellerorCustodian,Sellershallprovide,or
causetobeprovided,suchTrailingDocumenttoPurchasersCustodian.
(c)Nolaterthanfive(5)BusinessDaysaftereachapplicableServicingTransferDate,Sellershallprovide,orcauseto
beprovided,toPurchasertrueandcorrectoriginalsorcopiesorelectronic,.tif,.pdf,.xlsor.docformatsofanyandall
CollateralFilesandCreditandServicingFiles,ineachcaseasarematerialtotheServicingoftheMortgageLoans
transferredonsuchServicingTransferDateincompliancewithallApplicableRequirements.Anycostsandexpensesto
delivertheaforementionedfilesandinformationshallbebornebytheSellerandanycostsandexpensestoconvertsuch
filesandinformationintotheformatrequiredbythePurchasershallbebornebythePurchaser.
(d)WithoutlimitingthegeneralityofSection7.07,fromthedatethatisthirty(30)dayspriortoeachapplicable
ServicingTransferDateuntilthedatethatisthirty(30)daysaftersuchServicingTransferDate(oruntilCreditand
ServicingFilesinpossessionoforonbehalfofSellerhavebeenprovidedtoPurchaserbySeller,whicheverislater),Seller
shallprovidePurchaserwithaccesstoSellerswebportalcontainingsuchCreditandServicingFiles.
(e)AnythingtothecontrarycontainedinthisAgreementnotwithstanding,exceptforApplicableRequirements
whichmustbesatisfied,withrespecttoeachMortgageLoan,Sellermaydeliveranydocumentsrequiredtobedelivered
toPurchaserbymeansofelectronicdatacontainingtherelevantinformationoracomputerdiskcontainingscanned
imagesofsomeoralldocumentsrelatingtotheMortgageLoanprovided,thatanysuchelectronicdatashallbeina
formatmutuallyagreeduponbytheParties,andanysuchelectronicdocumentsshallbeidentifiedbyaloannumberand
documentnameorindex,withcrossreferenceprovidedfordocumenttypeindices.
Section7.07DeliveryofServicingSystemInformation.
PriortoeachapplicableServicingTransferDate,theSellershallfurnishorcausetobefurnishedtothePurchaser
preliminaryMortgageLoandatareflectingthestatusofpayments,balancesandotherpertinentinformationnecessaryto
servicetherelatedMortgageLoans,along
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withanyotherpertinentinformationreasonablyrequestedbyPurchaser.SellershallprovidetoPurchaser,onconversionfiles
meetingthespecificationsofExhibitC,orasotherwiseagreedtobytheParties,thatdatarelatingtotheMortgageLoansthat
isnecessaryfortheproperservicingoftheMortgageLoansortoensurecompliancewiththeServicingAgreements.Final
conversionfilesshallbeprovidednolaterthantwo(2)BusinessDaysafterthemostrecentCutoffDate.
Section7.08RelatedEscrowAccountBalances.
Nolaterthanfive(5)BusinessDaysaftereachapplicableServicingTransferDate,Sellershall:
(a)ProvidePurchaserbywiretransferofimmediatelyavailablefederalfundsthenetescrowamount(netofSellers
unrecoveredandunreimbursed,T&IAdvancesastowhichSellerisentitledtorecovery),lossdrafts,suspensebalances,
anybuydownbalancesandanyunappliedfundsassociatedwiththeMortgageLoansastowhichtherelatedMortgage
ServicingRightsweretransferredonsuchServicingTransferDateor,ifsuchamountisanegativenumber,thePurchaser
shallprovideSellerbywiretransferofimmediatelyavailablefederalfundssuchnegativeamountstoSellerand
(b)ProvidePurchaserwithanaccountingstatementsufficienttoenablePurchasertoreconcilethebalancesreferred
toinSection7.08(a)abovewiththeaccountsoftherelatedMortgageLoans.
Section7.09Payoffs,Assumptions,Modifications,RefinancingsShortSalesandDeedsinLieu.
(a)SellerandPurchasershallcooperatewithandassisteachother,asreasonablyrequested,incompletingany
payoff,assumption,modification,shortsale,deedinlieu,orotherlossmitigationoption,ineachcasethatisinprocessas
ofeachapplicableServicingTransferDate.
(b)PurchasershallacceptandcontinueprocessinganypendingloanmodificationrequestsrelatedtotheMortgage
Loans.PurchasershallhonoralltrialandpermanentloanmodificationagreementsenteredintobySeller,andmakeany
relatedrequiredfilingswithGovernmentalEntities,Agencies,InvestorsandInsurersinaccordancewithApplicable
Requirements.AftereachapplicableServicingTransferDate,PurchasershallserviceallMortgageLoanseligiblefor
HAMPmodificationsinaccordancewithHAMP.SellerandPurchaseracknowledgeandagreethat,ifandtotheextent
requiredbyApplicableRequirements,Mortgagorsarethirdpartybeneficiariesofthefirsttwosentencesofthis
Section7.09(b).
(c)Sellershallcompletetheprocessing,underwriting,closingandfundingofeligiblerequestsandapplicationsby
MortgagorstorefinanceMortgageLoansinprocessasoftheSaleDateunderHARPwheretheresultingmortgageloanis
intendedforsaletotheInvestor,inaccordancewithApplicableRequirements.Sellershallselltheresultingmortgage
loanstotheapplicableInvestorandconcurrentlytransfertherelatedmortgageservicingrightstothePurchaser(upon
andsubjecttothesametermsandconditionsassetforthinthisAgreementwithrespecttotheMortgageServicing
Rights,including,fortheavoidanceofdoubt,assetforthinArticlesIV,V,VII,VIIIandXI).Sellershallbeentitledto
retainallincomeandobligatedtopayallexpensesinconnectionwiththeoriginationandsaleofsuchmortgageloans,
andPurchasershallnotbeobligatedtopayanyadditionalconsiderationfortherelatedmortgageservicingrights.
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Section7.10MortgageLoanPaymentsandTrailingBillsReceivedAfterServicingTransferDate.
(a)AllpaymentspertainingtoMortgageLoanswithrespecttowhichtherelatedservicingistransferredoneach
applicableServicingTransferDatethatarereceivedbySelleraftersuchServicingTransferDate,anduntilninety
(90)daysthereafter,shallbeforwardedbySellertoPurchaserbywire,oratSellersdiscretionifsuchfundsorpayments
arereceivedbycheck,byovernightdelivery,withthecheckdatestamped,withinseven(7)BusinessDaysfollowing
Sellersreceipt,exceptthatpaymentsorfundsrequiringexceptionprocessingshallbeforwardedwithinten(10)Business
DaysofSellersreceipt.Onandafterthedatewhichisninety(90)daysaftereachapplicableServicingTransferDate,any
paymentsorotherfundsremittedbyaborrowerandreceivedbySellershall,atSellersdiscretion,bereturnedtothe
relatedborrower,orforwardedtothePurchaseroritsdesigneeasdescribedabovewithinseven(7)BusinessDays
followingSellersreceipt,exceptthatpaymentsorfundsrequiringexceptionprocessingshallbeforwardedwithinten
(10)BusinessDaysofSellersreceipt.PaymentsshallbeforwardedtothePurchaseroritsdesigneeasdescribedabove
untilPurchaserhasbeenabletonotifytheborrowertochangethepayeetoPurchaserfromSeller.Anyfundsorpayments
byanyotherPersonshallbeforwardedbySeller,toPurchasersdesigneebywireoratSellersdiscretionifsuchfundsor
paymentsarereceivedbycheck,byfirstclassmailifsuchfundsorpaymentsarereceivedbycheckwithinseven
(7)BusinessDaysofSellersreceipt,exceptthatpaymentsorfundsrequiringexceptionprocessingshallbeforwarded
withinten(10)BusinessDaysofSellersreceipt.
(b)Sellerwillpromptlyforward,orcausevendorstosend,toPurchaseranybills,invoices,statementsorother
noticesofrequiredpaymentforwhichtheserviceroftheMortgageLoansisresponsiblepursuanttoApplicable
Requirements(e.g.,taxesandinsurance)thatarereceivedbySellerorpreparedbysuchvendorsaftereachapplicable
ServicingTransferDate,whetherrelatedtotheperiodbeforeorafter,orservicesprovidedbeforeorafter,suchServicing
TransferDate,andPurchasershallpromptlyremitpaymenttosuchvendorsasrequiredinsuchservicingbills,invoices,
statementsorothernoticesofrequiredpaymentprovided,that(i)notwithstandingthegeneralityoftheforegoing,such
bills,invoices,statementsorothernoticesofrequiredpaymentreceivedbySellerwithinfifteen(15)daysaftersuch
ServicingTransferDateshallbeforwardedintheordinarycoursetoPurchaserwithinfive(5)daysthereafterforpayment
byPurchaserand(ii)ifthepaymentofanysuchbill,invoice,statementorothernoticeofrequiredpayment(whetheror
notforwardedtoPurchaserwithintheforegoingtimeperiod)pertainedtotheperiodpriortosuchServicingTransferDate
andwillreasonablybeexpectedtoresultinaLosstoPurchaserforwhichPurchaserwillnototherwisereceivepaymentor
reimbursementfromanyInvestororMortgagororisnototherwisetheresponsibilityofPurchaserpursuantto
Section3.02(e),suchbill,invoice,statementorothernoticeofrequiredpaymentwillbepromptlyreturnedbyPurchaserto
SellerforpaymentbySeller.
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Section7.11MisappliedandReturnedPayments.
Misappliedandreturnedpaymentsshallbeprocessedasfollows:
(a)BothPartiesshallreasonablycooperateincorrectingmisapplicationerrors
(b)ThePartywhodiscoversorreceivesnoticeofamisappliedpaymentshallimmediatelynotifytheotherParty
(c)SubjecttoSection3.03hereof,ifamisappliedpaymenthascreatedanimproperPurchasePriceastheresultofan
inaccurateoutstandingprincipalbalance,acheckshallbeissuedtothePartyshortedbytheimproperpayment
applicationwithinten(10)BusinessDaysafternoticethereofbytheotherPartyand
(d)IfanyMortgagorscheckpresentedtoSellerpriortoeachServicingTransferDateisreturnedunpaidtoSellerfor
anyreasonsubsequenttoeachServicingTransferDate,Sellershallimmediatelyforwardtheoriginalunpaidcheckto
PurchaserandPurchasershallreimburseSellerthereforpromptlyuponSellersdemand.
Section7.12ServicingObligations.
(a)Fromthedatehereof,untileachapplicableServicingTransferDateandsubjecttoSections7.12(b)(ii)and7.12(b)
(iii),andasfurtherprovidedforinthatInterimServicingAddendum,ifapplicable,Sellershallpay,performanddischarge
allliabilitiesandobligationsrelatingtotheServicing,includingallliabilitiesandobligationsundertheMortgageLoan
Documents,andtheApplicableRequirementsandshallpay,performanddischargealltherights,obligationsandduties
withrespecttotheRelatedEscrowAccountsasrequiredbyanInvestor,theMortgageLoanDocumentsandall
ApplicableRequirements.
(b)OnandaftereachapplicableServicingTransferDate(exceptwithrespecttoandasspecifiedinSection7.12(b)
(ii)):
(i)Purchasershallpay,performanddischargeallliabilitiesandobligationsrelatingtotheServicingand
MortgageServicingRightsarisingaftersuchServicingTransferDate,includingallliabilitiesandobligationsunder
theMortgageLoanDocumentsand,subjecttoSections7.12(b)(ii)and7.12(b)(iii),theApplicableRequirementsand
shallpay,performanddischargeallrights,obligationsanddutieswithrespecttotheRelatedEscrowAccountsand
CustodialAccountsasrequiredbyanyInvestor,Insurer,theMortgageLoanDocumentsand,subjecttoSections
7.12(b)(ii)and7.12(b)(iii),allApplicableRequirements.Notwithstandingtheforegoing,exceptasprovidedin
Section7.17(a)hereof,theApplicableRequirementswithwhichPurchaserisrequiredtocomplyhereundershallnot
includeanyjudicialandadministrativejudgments,orders,remediationplans,stipulations,awards,writsand
injunctionsapplicabletoanyMortgageLoanorMortgageServicingRightandtowhichSellerisapartyandwhich
arenotlistedonSchedule5.01(a)(iii),allofwhich,fortheavoidanceofdoubt,shallremainthesoleresponsibilityof
Seller.Fortheavoidanceofdoubt,(A)asbetweentheSellerandPurchaserunderthisAgreement,if,asandtothe
extentprovidedintheapplicableTriPartyAgreement,PurchaserisnotassumingliabilitiesoftheSeller(1)under
AgencyrelatedServicingAgreementswithrespecttotheMortgageServicingRightsthatpertaintotheperiodprior
totheSaleDateoranySubsequentSaleDate,asapplicable,or(2)relatedtotheoriginationofanyMortgageLoans
subjecttotheAgencyrelatedServicingAgreements,and(B)Purchaserisnotassumingliabilities
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oftheSeller(1)underPLSServicingAgreementswithrespecttotheMortgageServicingRightsthatpertaintothe
periodpriortotheSaleDateoranySubsequentSaleDate,asapplicable,or(2)relatedtotheoriginationofany
MortgageLoanssubjecttothePLSServicingAgreementsprovided,thattheforegoingclauses(A)and(B)shallnot
affectinanywayPurchasersobligationsunderSection7.17(a)hereof
(ii)PriortotheapplicableServicingTransferDate,SellerandPurchasershalldevelopaprotocoltoidentifywith
particularitytheobligationsofPurchasertoconducttheServicingwithrespecttoindividualMortgageLoansin
accordancewithparagraphs2,3,4,5,7,9,10,and11oftheHUDSettlement.Sellershallindemnify,defendandhold
PurchaseranditsRelatedPartiesharmlessfromandshallreimbursePurchaseranditsRelatedPartiesforanyLosses
(which,forpurposesofthisSection7.12(b)(ii),shallbedeemedtoincludeanyamountsattributabletoorarisingfrom
overheadallocations,generaloradministrativecostsandexpenses,oranycostforthetimeoftheemployeesof
PurchaseranditsRelatedParties,andanyotherloss,costorexpensethatordinarilywouldbeaneligiblecomponent
ofamortgageinsurancepaymentbyHUDbutthatisineligibleundertheHUDSettlement)sufferedorincurredby
PurchaseroritsRelatedPartiesaftersuchServicingTransferDatethatresultfromorariseoutof(1)Purchasers
compliancewithanysuchobligations(excluding,fortheavoidanceofdoubt,Purchasersfailuretocomplywithany
suchobligations)and(2)SellersfailuretocomplywiththeHUDSettlementatanytime(i.e.,whethersuchfailureto
complyoccurspriortooraftertheEffectiveDate).
(iii)WithrespecttotheMortgageLoans,PurchasercovenantswithSellerthatPurchasershallcomplyinall
materialrespectswiththeservicingstandardsattachedasExhibitA(SettlementTermSheet)totheNMSin
accordancewiththeirterms.Purchasershallensureitscompliancewithsuchservicingstandardsby,amongother
means,adoptingcertainoftheprovisionsofExhibitE(EnforcementTerms)totheNMSconsistingofthedesignation
ofanindependentinternalqualitycontrolgrouptoperformquarterlycompliancereviewsbasedonthemetrics
providedfortherein,theadoptionandimplementationofarelatedworkplanand,asapplicable,anycorrective
actionplans,andthepreparationofquarterlyreportsoftheresultsofitscompliancereviews(whichsuchreports
shallbeavailableforreviewbyanyGovernmentalEntitythathassupervisoryauthorityoverPurchaser,including,
withoutlimitation,theConsumerFinancialProtectionBureauandstatelicensingauthorities).Notwithstanding
anythingtothecontraryherein,thePartiesagreethatPurchaserisnotassumingSellersobligationsundertheNMS
andthatanyfinancialpenaltiesthatSellermayincurbyorthroughtheMonitorundertheNMSasaresultofany
failureofPurchaseroritsAffiliatestocomplywiththetermsoftheNMSshallremaintheliabilityandobligationof
Seller,exceptinthecaseofgrossnegligenceorwillfulmisconductbyPurchaseroritsAffiliatesprovided,thatSeller
shallprovidepromptwrittennoticetoPurchaserfollowingreceiptofnoticefromanyGovernmentalEntityalleging
thatPurchasersconductconstitutesgrossnegligenceorwillfulmisconduct
(iv)PurchaserandSellershallmanagethelitigationwithrespecttotheMortgageLoansthatexistsasofthe
applicableServicingTransferDatein
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accordancewithaprotocolthatwillbemutuallyagreedpriortotheinitialServicingTransferDateprovided,that,in
noeventshallPurchaserberequiredtomanageorassumeanyresponsibilityinrespectofdefendinganyclass
actionlitigationor,subjecttoApplicableRequirements,anylitigationinwhichSeller,andnotPurchaser,isa
defendantand
(v)SellershallreasonablycooperatewithPurchaserwithrespecttoPurchasersperformanceofitsobligations
pursuanttothisSection7.12(b),including,butsolelywithrespecttoPurchaserscompliancewiththeHUD
SettlementandPurchaserscovenanttocomplyinallmaterialrespectswiththeservicingstandardsattachedas
ExhibitA(SettlementTermSheet)totheNMSinaccordancewiththeirterms,byprovidingPurchaser(upon
Purchasersreasonablerequest)withadescriptionofanyofSellerspoliciesandproceduresusedtherebyin
connectionwithservicingtheMortgageLoansasofthedatehereofandbymakingSellerspersonnelavailable(at
reasonabletimesandunderreasonableconditions)toanswerBuyersquestionswithrespecttosuchpoliciesand
procedures.
(c)Fromthedatehereof,untileachapplicableServicingTransferDate,andasfurtherprovidedforinthatInterim
ServicingAddendum,ifapplicable,Sellershallatalltimesbeingoodstandingandauthorizedtoconductbusinessin
eachjurisdictionwhereSellertransactsbusinessandeachjurisdictionwhereaMortgagedPropertyislocated,except
wherethefailureofSellertopossesssuchqualificationswouldnotbematerialtoPurchaser.
(d)Fromthedatehereof,untileachapplicableServicingTransferDate,andasfurtherprovidedforinthatInterim
ServicingAddendum,ifapplicable,SellershallatalltimesmaintainallRelatedEscrowAccountsinaccordancewiththe
ApplicableRequirementsand,exceptastopaymentswhicharepastdueunderMortgageNotes,allbalancesrequiredby
theMortgagesorotherMortgageLoandocumentsandpaidtoSellerfortheaccountoftheMortgagorsareondepositin
theappropriateRelatedEscrowAccount.
(e)Fromthedatehereof,untileachapplicableServicingTransferDate,andasfurtherprovidedforinthatInterim
ServicingAddendum,SellershallremainanapprovedAgencySeller/Serviceringoodstandingwiththerequisitefinancial
criteriaandadequateresourcestocarryoutSellersobligationsherein,includingwithoutlimitationundertheInterim
ServicingAddendum.
Section7.13SolicitationRights.
(a)SubjecttoSection7.13(b),followingtheSaleDateoranySubsequentSaleDate,asapplicable,neitherSellernor
anyofitsAffiliatesshallsolicittheMortgagors(norshallSelleroritsAffiliatesdirectanyoftheiragentstosolicit
Mortgagors)torefinancetheprepaymentoftheMortgageLoansrelatedtotheMortgageServicingRights.
(b)TherestrictionsunderSection7.13(a)shallnotapplyto:
(i)Advertisingcampaignsdirectedtothegeneralpublic,includingmassmailingsbasedoncommercially
acquiredmailinglists,newspaper,radioandtelevisionadvertisementsor
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(ii)SolicitationsforfinancialservicestoanyMortgagorwithwhomSelleroranAffiliatehasanexisting
customerrelationship,unrelatedtotheMortgageLoan,includingsolicitationsforrefinancingofmortgageloansonly
totheextentdirectedatallcustomersofSeller,orsegmentsthereofthatdonotprincipallytargettheMortgagors
provided,however,thatSelleranditsAffiliatesandagentsshallnotuseanyproprietaryinformationrelatedtothe
MortgagorsMortgageLoanstoconductsuchadvertisingcampaignsorsolicitationstorefinancetheprepaymentof
theMortgageLoansrelatedtotheMortgageServicingRights.
Section7.14YearEndTaxReporting.
SellershallberesponsibleforprovidingtheInternalRevenueServiceandMortgagorswithallappropriatetaxformsand
informationfortransactionsaffectingtheMortgageLoansduringtherespectivecalendaryear,fortheperiodpriortoeach
applicableServicingTransferDate.PurchasershallberesponsibleforprovidingtheInternalRevenueServiceandMortgagors
withallappropriatetaxformsandinformationfortransactionsaffectingtheMortgageLoansfollowingeachapplicable
ServicingTransferDate.
Section7.15Cooperation.
SubjecttoArticleXI,andwithoutlimitingtheapplicationofSections7.02,7.12,7.16and7.17,SellerandPurchasershall
eachuseitscommerciallyreasonableeffortstocooperatewithandassisteachother,asreasonablyrequested,incarryingout
thepurposesoftheTransactionDocuments,andinconnectionwithSellersobligationstocomplywithanyremediationplan
requirements,andanyothercontinuingSellerobligations,withrespecttothePurchasedAssets.EachPartyshalluseits
commerciallyreasonableeffortsto(i)take,orcausetobetaken,allappropriateaction,anddo,orcausetobedone,allthings
necessary,properoradvisableorotherwisetopromptlyconsummateandmakeeffectivetheTransactions,(ii)obtainall
authorizations,consentsorapprovalsthatareormaybeorbecomenecessaryfortheperformanceofitsobligationsunderthe
TransactionDocumentsandtheconsummationoftheTransactions,includingtheServicingAgreementConsents,and
(iii)fulfillallconditionstosuchPartysobligationsunderthisAgreementandtheotherTransactionDocumentsaspromptlyas
practicable.
Section7.16SupplementalInformation.
FromtimetotimepriortoandaftereachapplicableServicingTransferDate,Sellershall,atitscostandexpense,furnish
Purchaserwithincidentalinformation,whichisreasonablyavailabletoSeller,supplementaltotheinformationcontainedinthe
documentsandschedulesdeliveredpursuanttothisAgreement,whichisnecessaryfortheproperservicingoftheMortgage
LoansortoensurecompliancewiththeServicingAgreements.SellershallprovidePurchaserwithoriginalsofMortgagesand
AssignmentsofMortgagenotpreviouslyprovidedbySellerinaccordancewiththeprotocolsetforthonExhibitI.
Section7.17AccesstoInformationRequiredActions.
(a)IfSellerissubjectasanactualorprospectiveplaintiffordefendanttoanyclaim,action,proceeding,
investigation,inquiry,audit,examination,judgment,order(includingwithrespecttotheNMS,theHUDSettlementand
theRegulator),remediation
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planrelatingtoaMortgageLoanortheMortgageServicingRightsorrelatedServicing,Purchaser,followingeach
applicableServicingTransferDate,shallreasonablycooperatewithSellerand(i)makeavailabletoSeller,atSellers
expense,allwitnesses,pertinentrecords,data,documentation,materialsandinformationinthePurchaserspossessionor
underthePurchaserscontrolrelatingtheretoand(ii)implementsuchlossmitigationandremedialactionortakesuch
otheractionsasisreasonablyrequiredbySeller,ineachcaseatSellersexpense,toprosecute,defend,complywithor
otherwisehandlesuchclaim,action,proceeding,investigation,inquiry,audit,examination,judgment,order,remediation
plan,butsubjecttoapplicablelawsandappropriateconfidentialityagreementswithSeller.
(b)SubsequenttoeachapplicableServicingTransferDate,eachPartyshallfurnishtotheotherPartysuchperiodic,
special,orotherreportsorinformation,andcopiesororiginalsofanydocumentscontainedintheCreditandServicing
File,foreachrelatedMortgageLoanprovidedforherein,asmaybereasonablyrequestedinfurtheranceofthefulfillment
oftherequestingPartysdutiesandobligationshereunder,underanyTransactionDocuments,orunderApplicable
Requirements,attherequestingPartyssolecostandexpenseunlessotherwiseexpresslyprovidedinaTransaction
Document,andprovidedthatifanyTransactionDocumentotherwiseobligatestherequestedPartytodeliversuch
materialsorinformationwithoutpaymentofcosts,expense,orotherconsideration,thisSection7.17(b)shallnotobligate
therequestingPartytopaysuchcostorexpense.Allsuchreports,documentsorinformationshallbeprovidedbyandin
accordancewithallreasonableinstructionsanddirectionswhichtherequestingPartymaygive.Suchdocumentsshallbe
providedreasonablypromptlyfollowingsucharequest.PurchasershallnotprovideoriginalsorcopiesoftheCreditand
ServicingFilestoanyPersonthatdoesnothavearighttheretoundertheapplicableServicingAgreementandApplicable
Requirements.
(c)Inconnectionwithanyaction,claimorproceedingconcerningMIorinsurancewithrespecttoanyMortgage
LoanbyanInsurer:
(i)PurchasershallcomplywiththecovenantsspecifiedinExhibitLand,ineachcaseatSellersexpense,
reasonablycooperatewithSellerandmakeavailabletoSelleranycommunication(includinganyrequestformissing
documents,notificationofimpendingcoveragerescission,notificationofimpendingclaimdenial,claimdenials,
coveragerescissions,andcurtailments),allwitnesses,pertinentrecords,andanymaterialsandinformationin
PurchaserspossessionorcontrolrelatingtheretoasmaybereasonablyrequiredbySellertobringordefendsuch
action,claimorproceeding.ThecooperationobligationsinthisSectionshallincludetheobligationofPurchaserto
provideSellerwithnoticewithinareasonabletimebutnolaterthanfifteen(15)BusinessDaysafterPurchaser
becomesawareofanysuchaction,claimorproceedingand
(ii)UpontherequestofSeller,PurchaserandPurchasersdesigneeshallprovidewrittenauthorizationtothe
Insurers,ifrequired,toallowSellertorespondtoanysuchaction,claimorproceedingdirectlytoanInsurer.Such
authorizationshallstatethatPurchaserandPurchasersdesignee,asthecasemaybe,ratifySellersabilitytotake
stepstheSellerdeterminestobereasonablynecessarytopursuecoverageundertheMI,bondinsuranceorother
insurancepolicies,including,withoutlimitation,prosecutingand/ordefendinglitigationand/orarbitrationwith
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mortgageinsurerswithrespecttoclaimsmadeand/orrescissions,denialsorcurtailmentsthemortgageinsurershave
attemptedorwillattempttoeffectuate,aswellassettlingwithmortgageinsurersatSellersdiscretion,eitherin
SellersownnameorassubcontractororagentforPurchaser,butexcludinganyMIactions,claimsorproceedings
thatarisefromallegedservicingrelatedactivitiesoccurringaftereachapplicableServicingTransferDate.AtSellers
request,PurchasershallappointSellerasitssubcontractororagentpursuanttotheapplicableServicingAgreement
forthepurposeofaccomplishingtheforegoing.Purchaserand/orPurchasersdesigneeagreetoexecuteall
reasonableservicingrelatedfunctionspursuanttothetermsofanyexistingorfuturesettlements(copiesofwhich
willbeprovidedtoPurchaser),includingprocessingclaims,premiums,claimpayments,etc.inaccordancewiththe
termsofasettlementagreement.
(d)Additionally,eachPartyshallprovidetheotherPartypromptnoticeof,andprovidedocumentsor
communicationsevidencingorrelatingto:(i)anylawsuit,counterclaimorthirdpartyclaiminvolvinganyMortgageLoan,
or(ii)anyrepurchaseclaimmadebyathirdpartyoranyInvestorinvolvinganyMortgageLoan,or(iii)anynoticeofclaim
cancellationordenialorarescissionofcoveragebyanymortgageinsurancecompanyrelatingtoanyMortgageLoan,
whichiftoSellershallbesenttotheemailaddressspecifiedintheServicingTransferInstructions.
(e)Subjecttoapplicablelaws,PurchasershallprovideSellerwithmonthlyreportswithinformationabouteach
MortgageLoanbasedonthedatafieldsspecifiedinExhibitHhereto.Sellershallusesuchinformationsolelytomanage
itscontinuingliabilitiesandobligationswithrespecttotheMortgageLoans,includingitscontingentliability,orits
Affiliatescontingentliabilities,torepurchasefrom,orprovidemakewholepaymentsto,anyInvestor,Insurerorany
otherPerson,includinganyAgencyasmorefullydescribedintheTriPartyAgreements,andfornootherpurpose.
Section7.18Tax,FloodandOtherSetUpCosts.
SellershallbearandpayallfeesrelatingtothetransferofservicingtothePurchaser,includinganyInvestorstransfer
processingfees,assignmentpreparationandrecordingfees(includinginthecaseofanydeficientassignmentsthatareresent
forrecordationbyPurchaser),MERSfeesandcostsofdeliveryanddepositexpensesfortheshipmentoftheCollateralFiles,
andtheshipmentofCreditandServicingFilestotheextentnotdeliveredintheformofelectronicallyimagedcopies,to
Purchaserand/orCustodian.Sellershallnotberesponsibleforthecostsofanytaxorfloodservicescontracts,certificationsor
setupcosts,providedthatSellerdeliversallcontractsorinformationasrequiredbySections7.04(e)and7.05(d),asapplicable.
IfSellerfailstodeliversuchcontractsorinformation,orsuchinformationisincorrectastoanyMortgageLoan,Sellershallbear
andpayPurchasersactual,outofpocketcostsandexpensesforsuchcontracts,certificationsorsetupcostsforsuch
MortgageLoans,nottoexceed$85.00perMortgageLoanfortaxservicescontracts,andnottoexceed$10.00perMortgage
Loanforfloodcertifications.
Section7.19DocumentCustodian.
WithrespecttotheMortgageLoanssubjecttothePLSServicingAgreements,thecurrentCustodianwillcontinuetoact
astheCustodianaftereachServicingTransferDate.WithrespecttotheotherMortgageLoans,BankofAmerica,N.A.,acting
throughitscontractorandwhollyowned
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subsidiary,ReconTrustCompany,N.A.,shallactastheinitialCustodianforPurchaserasofeachServicingTransferDate.The
feesandexpensesofanyCustodian,andothercostsofdeliveryofdocumentswithrespecttoanyMortgageLoantoany
Custodian,otherthantheCustodianusedwithrespecttosuchMortgageLoanasoftheSaleDateshallbebornebythe
Purchaser.
Section7.20UseofName.
Exceptasotherwiserequiredbyapplicablelaw,PurchasershallnotuseSellersnameinconnectionwithPurchasersorits
designeesservicingoftheMortgageLoansorownershipofthePurchasedAssetsaftereachapplicableServicingTransfer
Date,andshallremoveallreferencestothenameofSellerinmaterialsandcommunicationsusedinconnectionwith
PurchasersoritsdesigneesservicingoftheMortgageLoansorownershipofthePurchasedAssetspromptlyaftersuch
ServicingTransferDate.
Section7.21ConductofBusinessPriortotheClosing.
FromthedateofthisAgreementuntiltheSaleDateoranySubsequentSaleDate,exceptascontemplatedbythis
AgreementorasrequiredbyApplicableRequirements,theSellershallusecommerciallyreasonableeffortstoconductits
servicingbusinesswithrespecttotheMortgageServicingRightsandoperatethePurchasedAssetsintheordinarycourseof
business.Withoutlimitingthegeneralityoftheforegoingsentence,fromthedateofthisAgreementuntiltheSaleDateorany
SubsequentSaleDate,exceptascontemplatedbythisAgreementorasrequiredbytheApplicableRequirements,theSeller
shallnot,withoutthepriorwrittenconsentofPurchaser,whichshallnotbeunreasonablywithheldordelayed:
(a)amendinanymaterialrespectorterminateanyServicingAgreementprovided,however,thattheexpirationof
anysuchServicingAgreementbyitstermspriortotheSaleDateoranySubsequentSaleDateshallbedeemednottobea
terminationofsuchServicingAgreementunderthisclause(a)
(b)sell,transfer,assign,cancel,surrender,subjecttoanylienorotherwisedisposeoforencumberanyofthe
PurchasedAssetsinonetransactionoraseriesofrelatedtransactions
(c)sellanyPurchasedAssetsor
(d)agreetodoanyoftheforegoing.
Section7.22NoTransferWithoutConsent.
Notwithstandinganythinghereintothecontrary,thisAgreementshallnotconstituteanagreementtosell,assign,
transfer,conveyordeliveranyinterestinanyPurchasedAssetsifasale,assignment,transfer,conveyance,ordeliveryoran
attempttomakesuchasale,assignment,transfer,conveyance,ordeliverywithoutobtaininganyapplicableServicing
AgreementConsentswouldconstituteabreachorviolationofanyServicingAgreementorwouldaffectadverselytherightsof
theSellerorthePurchaserthereunderandanysale,assignment,transfer,conveyance,ordeliverytothePurchaserofany
interestinthePurchasedAssetsshallbemadesubjecttosuchServicingAgreementConsents.IfanysuchServicing
AgreementConsentisnotobtainedonorpriortotheSaleDate,thenthePurchaserandSellershallcooperatetoobtainany
suchServicingAgreementConsentpursuanttoSection7.02.
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Section7.23UseofVendors.
PurchaserwillenterintodiscussionswithSafeguardPropertiesManagement,LLC(Safeguard)andSafeguard
Properties,LLC,betweenthedatehereofandtheinitialServicingTransferDateinordertoexploreanddiscussthepossibility
ofenteringintooneormoreagreementseffectiveasoftheinitialServicingTransferDatepursuanttowhichPurchaserwould
continuetouseSafeguardfortheprovisionofServicesinrespectofallMortgageServicingRightsacquiredhereunderon
substantiallythesametermsascontainedintheOutsourcingAgreementandStatementofWork(collectively,theServices
Agreement),acopyofwhichSellerprovidedtoPurchaser.ServicesshallhavethemeaningsetforthintheServices
Agreement.Purchaserwillundertakesuchdiscussionsingoodfaithinanefforttoenterintosuchagreementstotheextentthat
itisreasonablysatisfiedwiththequality,pricingandothertermsofsuchservicesasmaybeagreedwithSafeguard.
Notwithstandingtheforegoing,butwithoutlimitingtheforegoing,nothingcontainedhereinshallrequirePurchasertoexecute
anagreementtoprocuretheServicesfromSafeguardeitheratalloronanyspecifictermsandconditions.
Section7.24CooperationwithFinancingEfforts.
TheSellershall,atthePurchaserssolecostandexpense,provideallcooperationreasonablyrequestedbythePurchaser
(thatiscustomary)inconnectionwiththePurchasersobtaininganyfinancingrequiredtoconsummatetheTransactions
(provided,thatsuchrequestedcooperationshallnotinterfereunreasonablywiththebusinessoroperationsoftheSeller),
including(i)deliveringtothePurchaser(and/orassistingthePurchasertoprepare)reasonableduediligencematerials
pertainingtothePurchasedAssetsandrequestedbythePurchaserslendersortheirrepresentatives(includinginformationto
beusedinthepreparationofaninformationalpackageregardingthebusiness,operations,financialprojectionsandprospects
ofthePurchaserandthePurchasedAssetswhichiscustomaryforsuchfinancingorreasonablynecessaryforthecompletion
ofsuchfinancingbysuchlenders,totheextentreasonablyrequestedbyPurchaser)and(ii)cooperatingwithPurchasers
effortstoobtainFinancingAmendments.
Section7.25ExcessYield.
IntheeventthatSellerhasconveyedoradvancedanyexcessyieldtoFNMAorFHLMC(whetherpursuanttoany
ExcessServicingRightsAgreementorotherwise),SellershallhavenorighttoreimbursementinrespectthereoffromPurchaser.
Section7.26SubsequentTransferofMortgageServicingRights
IfPurchaserassignsaMortgageServicingRighttoanyPerson,itshalleitherobtainanagreementfromsuchPersonto
assumePurchasersobligationsunderandotherwisecomplywiththerequirementsapplicabletoPurchasersetforthin
Sections7.12(b)(butwithrespecttoclauses(ii)and(iii),onlyforsolongastheapplicableobligationsundertheNMSand
HUDSettlementremainoutstanding),7.15and7.17,andshallensuresuchPersonscompliancetherewith.
Section7.27JointMarketing
PromptlyfollowingtheEffectiveDate,SellershallsharewithPurchaserinformationregardingMortgagorsnecessaryor
reasonablyrequestedtoenablePurchaser,followingtheapplicableSaleDateorSubsequentSaleDate,toconductrefinancing
solicitationsofsuch
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MortgagorsandshallusebesteffortstodirectanyrefinancinginquiriesfromMortgagorstoPurchaser,allinaccordancewith
andsubjecttoApplicableRequirements.Notwithstandingtheforegoing,anyrefinancingsolicitationofMortgagorsby
PurchaserbasedoninformationprovidedbySeller,includinganyreferencestoSeller,shallonlybeconductedpursuanttoa
mutuallyagreeableprotocoltobeenteredintobyPurchaserandSellerpromptlyfollowingtheEffectiveDate(andinanyevent,
withinten(10)daysthereafterorwithinsuchothertimeperiodmutuallyagreeduponbyPurchaserandSeller).Purchasershall
indemnify,defendandholdSelleranditsRelatedPartiesharmlessfromandshallreimburseSelleranditsRelatedPartiesforany
LossessufferedorincurredbySelleroritsRelatedPartiesthatresultfromorariseoutofPurchasersfailuretousesuch
informationregarding,andsolicitforrefinancing,suchMortgagorsinaccordancewithApplicableRequirementsandthe
agreeduponprotocol.Notwithstandingtheforegoing,Purchasershallneitherindemnify,defendandholdSelleranditsRelated
PartiesharmlessfromnorreimburseSelleranditsRelatedPartiesforanyLossessufferedorincurredbySelleroritsRelated
PartiesthatresultfromorariseoutofPurchasersrelianceontheinformationprovidedbySellerpursuanttotheagreedupon
protocolrelatingtoeithertheMortgagorsbankruptcystatusortheMortgagorspriornoticetoSellerofoptoutfrom
informationsharing.PurchaseracknowledgesthatSellerwillnotprovideanyinformationtoPurchaserregardingwhether
MortgagorsinCaliforniahaveoptedinoroptedoutofinformationsharingorotherwiseareeligibleorineligibleforsolicitation
basedonsuchinformationsharingbyvirtueofCaliforniaprivacylaws.
Section7.28CreditEnhancements
SelleragreesthatitshallholdPurchaseranditsRelatedPartiesharmlessfromandshallreimbursePurchaserandits
RelatedPartiesforanyLossessufferedorincurredbyPurchaseroritsRelatedPartiesaftertheSaleDateorSubsequentSale
Date,asapplicable,thatresultfromorariseoutofanyCreditEnhancements(assuchtermisdefinedintheTriParty
AgreementamongSeller,PurchaserandFHLMC).
Section7.29CompensatoryFeePayment
PriortotheSaleDate,SellershallpaytoFNMAallamountsrequiredtobepaidtherebypursuanttotheCompensatory
FeeResolutionAgreementbetweenSellerandFNMA.
ARTICLEVIII
CONDITIONSPRECEDENTTOOBLIGATIONSOFPURCHASER
TheobligationsofPurchaserunderthisAgreementwithrespecttothesaleofMortgageServicingRightspertainingtoa
particularServicingAgreementaresubjecttothesatisfaction,orwaiver,ofthefollowingconditionsasoftheSaleDateor
SubsequentSaleDate,asapplicable:
Section8.01CorrectnessofRepresentationsandWarranties.
TherepresentationsandwarrantiesmadebySellerinArticleIVofthisAgreement(otherthantheFundamentalRepsin
ArticleIV)aretrueandcorrect,exceptforthefailureorfailuresofsuchrepresentationsandwarrantiestobesotrueandcorrect
that(afterexcludinganyeffectofmaterialityorSellerMaterialAdverseEffectqualificationssetforthinanysuch
representationorwarranty)havenothadandwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,a
SellerMaterialAdverseEffect.TheFundamentalRepsmadebySellerinArticleIVofthisAgreementaretrueandcorrectinall
materialrespects.
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Section8.02CompliancewithConditions.
Alloftheterms,conditions,covenantsandobligationsofthisAgreementrequiredtobecompliedwithandperformedby
SellerpriortotheSaleDateorSubsequentSaleDate,asapplicable,shallhavebeendulyperformedinallmaterialrespects.
Section8.03NoActions.
Thereshallnothavebeencommencedor,toSellersknowledge,threatenedanyaction,suitorproceedingwhichwill
likelymateriallyandadverselyaffecttheconsummationoftheTransactions.
Section8.04Consents.
Sellershallhaveobtainedallconsents,approvalsorotherrequirementsofthirdparties,ifany,requiredforthe
consummationoftheTransactions,includingtheapplicableServicingAgreementConsents.
Section8.05TriPartyAgreements.
Seller,PurchaserandeachofFNMAandFHLMCshallhaveenteredintotheapplicableTriPartyAgreementbutonly
withrespecttotheFNMAorFHLMCServicingAgreement,asapplicable.
Section8.06CertificateofSeller.
OntheSaleDateorSubsequentSaleDate,asapplicable,SellershallprovidePurchaseracertificate,substantiallyinthe
formattachedheretoasExhibitD,signedbyanauthorizedofficerofSellerdatedasofsuchdate,applicabletothe
Transactions,totheeffectthattheconditionssetforthinSections8.01and8.02havebeensatisfiedasofsuchdate.
Section8.07DeliveryofDocuments.
SellershallhavedeliveredtoPurchasereachofthedocumentsprovidedforinSection2.02(b)hereof,asapplicable.
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ARTICLEIX
CONDITIONSPRECEDENTTOOBLIGATIONSOFSELLER
TheobligationsofSellerunderthisAgreementwithrespecttothesaleofMortgageServicingRightspertainingtoa
particularServicingAgreementaresubjecttothesatisfaction,orwaiver,ofthefollowingconditionsasoftheSaleDateor
SubsequentSaleDate,asapplicable:
Section9.01CorrectnessofRepresentationsandWarranties.
Therepresentationsandwarranties(otherthantheFundamentalReps)madebyPurchaserinthisAgreementaretrueand
correct,exceptforthefailureorfailuresofsuchrepresentationsandwarrantiestobesotrueandcorrectthat(afterexcluding
anyeffectofmaterialityorPurchaserMaterialAdverseEffectqualificationssetforthinanysuchrepresentationorwarranty)
havenothadandwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aPurchaserMaterialAdverse
Effect.TheFundamentalRepsmadebyPurchaserinthisAgreementaretrueandcorrectinallmaterialrespects.
Section9.02CompliancewithConditions.
Alloftheterms,conditions,covenantsandobligationsofthisAgreementrequiredtobecompliedwithandperformedby
PurchaserpriortotheSaleDateorSubsequentSaleDate,asapplicable,shallhavebeendulyperformedinallmaterialrespects.
Section9.03CorporateResolution.
SellershallhavereceivedfromPurchaseracertifiedcopyofitscorporateresolutionapprovingtheexecutionanddelivery
ofthisAgreementandtheconsummationoftheTransactions,togetherwithsuchothercertificatesofincumbencyandother
evidencesofcorporateauthorityasSelleroritscounselmayreasonablyrequest.
Section9.04CertificateofPurchaser.
OntheSaleDateorSubsequentSaleDate,asapplicable,PurchasershallprovideSelleracertificate,substantiallyinthe
formattachedheretoasExhibitD,signedbyanauthorizedofficerofPurchaserdatedasofsuchdate,applicabletothe
Transactions,totheeffectthattheconditionssetforthinSections9.01and9.02havebeensatisfiedasofsuchdate.
Section9.05NoActions.
Thereshallnothavebeencommencedor,tothebestofPurchasersKnowledge,threatenedanyaction,suitor
proceedingthatwilllikelymateriallyandadverselyaffecttheconsummationoftheTransactions.
Section9.06DeliveryofDocuments.
PurchasershallhavedeliveredtoSellereachofthedocumentsprovidedforinSection2.02(b)hereof,asapplicable.
ARTICLEX
TERMINATION
Section10.01Termination.
(a)ThisAgreementmaybeterminatedatanytimeeither(x)priortotheClosingorapplicableSubsequentClosing
withrespecttothesaleofMortgageServicingRightspertainingtoaparticularServicingAgreementor(y)exceptunder
Section10.01(a)(iv)
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hereof,aftertheapplicableClosingorSubsequentClosingwithrespecttotherelatedInterimServicingAddendumas
appliedtotheMortgageLoanssubjecttoaparticularServicingAgreement:
(i)bythemutualwrittenagreementofPurchaserandtheSeller
(ii)bytheSellerorPurchaser(provided,thattheterminatingPartyisnottheninbreachofanyrepresentation,
warranty,covenantorotheragreementcontainedhereininanymaterialrespect,afterexcludinganyeffectof
materialityorSellerMaterialAdverseEffectorPurchaserMaterialAdverseEffectqualificationssetforthinanysuch
representationorwarranty)ifthereshallhavebeenabreachofanyoftheapplicablerepresentationsorwarranties
setforthinthisAgreementonthepartoftheotherParty,suchthataconditiontotheobligationoftheterminating
PartytoclosetheTransactionssetforthinArticleVIIIorIX,asapplicable,cannotbesatisfiedandwhichbreachby
itsnaturecannotbecuredpriortotheTerminationDateorshallnothavebeencuredwithinthirty(30)daysafter
deliveryofwrittennoticeofsuchbreachbytheterminatingPartytotheotherParty
(iii)bytheSellerorPurchaser(provided,thattheterminatingPartyisnottheninbreachofanyrepresentation,
warranty,covenantorotheragreementcontainedhereininanymaterialrespect,afterexcludinganyeffectof
materialityorSellerMaterialAdverseEffectorPurchaserMaterialAdverseEffectqualificationssetforthinanysuch
representationorwarranty)ifthereshallhavebeenafailuretoperformorcomplywithanyoftheapplicable
covenantsoragreementssetforthinthisAgreementonthepartoftheotherPartyinanymaterialrespect,suchthat
aconditiontotheobligationoftheterminatingPartytoclosetheTransactionssetforthinArticleVIIIorIX,as
applicable,cannotbesatisfiedandwhichfailurebyitsnaturecannotbecuredpriortotheTerminationDateorshall
nothavebeencuredwithinthirty(30)daysafterdeliveryofwrittennoticeofsuchfailurebytheterminatingPartyto
theotherParty
(iv)bytheSellerorPurchaser,iftheClosingorapplicableSubsequentClosingshallnothaveoccurredbythe
TerminationDateorsuchlaterdateasshallhavebeenagreedtoinwritingbyPurchaserandtheSellerprovided,
thatnoPartymayterminatethisAgreementpursuanttothisSection10.01(a)(iv)ifthefailureoftheClosingorsuch
SubsequentClosingtohaveoccurredonorbeforetheTerminationDatewasduetosuchPartyswillfulbreachof
anyrepresentationorwarrantyormaterialbreachofanycovenantorotheragreementcontainedinthisAgreement
(v)bytheSellerorPurchaserif(A)finalactionhasbeentakenbyaGovernmentalEntitywhoseapprovalis
requiredinconnectionwiththisAgreementandtheTransactions,whichfinalaction(1)hasbecomeunappealable
and(2)doesnotapprovethisAgreementortheTransactions,(B)anyGovernmentalEntitywhoseapprovalor
nonobjectionisrequiredinconnectionwiththisAgreementandtheTransactionshasstatedthatitwillnotissuethe
requiredapprovalornonobjection,or(C)anycourtofcompetentjurisdictionorotherGovernmentalEntityshallhave
issuedanorder,decree,rulingortakenanyotheractionrestraining,enjoiningorotherwiseprohibitingthe
Transactionsandsuchorder,decree,rulingorotheractionshallhavebecomefinalandunappealableand
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(vi)byPurchaserif,followingthedatehereof,SellerdeliversacopyorelectronicversionofanyPLSServicing
Agreement(oranyportionthereoforamendmentthereto)orotherinformationregardingthetermsthereofpursuant
toSection2.02(b)(v),whichcopyorelectronicversionorotherinformationmateriallyandadverselychangesthe
termspertainingto(includingthereasonablyexpectedeconomicbenefitswithrespectto),ortheservicing
obligationsofPurchaserpursuantto,suchPLSServicingAgreement,ineachcasebeyondthatwhichSeller
previouslydisclosedinwritingtoPurchaserprovided,however,thatifPurchaserconsummatesthepurchaseof
suchMortgageServicingRightshereunder,Purchasershallnotbepermittedtoseekindemnificationunder
Section11.01(e)inrespectofsuchcopyorelectronicversionofsuchPLSServicingAgreement(orsuchportion
thereoforamendmentthereto)orsuchotherinformationregardingthetermsthereof.
(b)EitherPartydesiringtoterminatethisAgreementpursuanttoSection10.01(a)shallgivewrittennoticeofsuch
terminationtotheotherParty.
Section10.02EffectofTermination.
IntheeventofterminationofthisAgreementpursuanttoSection10.01(a),(a)thisAgreementshallforthwithbecomevoid
andhavenofurtherforce,exceptthattheprovisionsofthisSection10.02,Section12.01,Section12.02,Section12.03,
Section12.04,Section12.06,Section12.07,Section12.09,Section12.10,Section12.11,Section12.12,Section12.14and
Section12.15,andanyotherSectionwhich,byitsterms,relatestopostterminationrightsorobligations,shallsurvivesuch
terminationofthisAgreementandremaininfullforceandeffect,(b)PurchasershallreturntoSelleralldocuments,information
andothermaterialsreceivedfromSelleroritsrepresentativesrelatingtoMortgageServicingRights,MortgageLoansor
Servicing,andtheTransactions,whethersoobtainedbeforeoraftertheexecutionhereof,withoutretentionofcopiesthereof
otherthanasrequiredbyapplicablelaworasrequiredbyPurchasersbonafideinternalrecordkeepingandretentionpolicies
and(c)SellerandPurchasershallpromptlycausetheEscrowAgenttodisbursetheremainingportionoftheDepositto
PurchaserpursuanttoSection3.01(a)hereof,relatedtotheMortgageServicingRightsunderaServicingAgreementasto
whichthisAgreementisterminatedprovided,thatsuchterminationisnotbySellerpursuanttoSection10.01(a)hereofbased
onabreachbyPurchaser.Notwithstandingtheforegoing,theterminationofthisAgreementpursuanttoSection10.01(a)shall
notaffecttherightsofeitherPartywithrespecttoanyliabilitiesincurredorsufferedbysuchPartyasaresultofthebreachby
theotherPartyofanyofitsrepresentations,warranties,covenantsoragreementsinthisAgreement.
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ARTICLEXI
INDEMNIFICATIONCUREORREPURCHASE
Section11.01IndemnificationbySeller.
Sellershallindemnify,defendandholdPurchaseranditsRelatedPartiesharmlessfromandshallreimbursePurchaserand
itsRelatedPartiesforanyLossessufferedorincurredbyPurchaseroritsRelatedParties,thatresultfromorariseoutof:
(a)AnybreachofanyrepresentationorwarrantybySeller
(b)AnynonfulfillmentofanycovenantorotherobligationofSellercontainedinthisAgreementortheInterim
ServicingAddendum
(c)AnyfailurebySelleroranyoriginatororpriorservicertooriginate,pool,sellorserviceanyoftheMortgage
LoanspriortoeachServicingTransferDateincompliancewithallApplicableRequirements
(d)VANoBidsandVABuydownsforanyMortgageLoanguaranteedbytheVA(VALoan)whichbecomes
either(i)inforeclosureor(ii)inbankruptcyandbecomesonehundredtwenty(120)daysdelinquent,ineachcasewhether
priortoorwithintwo(2)yearsaftertheSaleDateandregardlessofwhentheactualforeclosuresaleoccursforanysuch
VALoanprovided,however,thatSellersobligationunderthisSection11.01(d)shallariseonlywhentheindemnification
ofPurchaseranditsRelatedPartiesinrespectofLossespursuanttothisSection11.01(d)exceeds$81,000,000and
(e)(i)ThefailureofPurchasertoservicetheMortgageLoansunderaPLSServicingAgreementinaccordancewith
ApplicableRequirementsbyvirtueofthefailureofSellertohaveprovidedPurchaserbytheapplicableSubsequentSale
DatewithamateriallycompleteandproperlyandfullyexecutedPLSServicingAgreement(oranyportionthereofor
amendmentthereto)(collectively,MissingDocumentation),(ii)anyincrementalcostsincurredbyPurchaserinservicing
theMortgageLoansunderaPLSServicingAgreementbyvirtueofsuchcostsbeingreflectedinorarisingoutofsuch
MissingDocumentationthatarenotprovidedbySellertoPurchaserbytheapplicableSubsequentSaleDateor(iii)any
lossorreductioninServicingFeesorAncillaryIncomerelatedtoservicingoftheMortgageLoansunderaPLSServicing
AgreementbyvirtueofanysuchlossorreductionbeingreflectedinorarisingoutofsuchMissingDocumentationthat
arenotprovidedbySellertoPurchaserbytheapplicableSubsequentSaleDate
providedfurther,however,thatSellershallnotberesponsibletoPurchaseroritsRelatedPartiesforthatportion,ifany,ofany
LossthatarisesoutoforresultsfromPurchasersoritsdesigneesfailuretoserviceanyoftheMortgageLoansorMortgage
ServicingRightsaftereachServicingTransferDateincompliancewithallApplicableRequirementsandprovidedfurther,
however,thatPurchaserorsuchRelatedPartieshavetakenallreasonableandappropriateactionstomitigateanysuchLosses.
PurchasershallnotifySellerpromptlyafterreceivingwrittennoticeoftheassertionofanylitigation,proceedings,
governmentalinvestigations,orders,injunctions,decreesoranythirdpartyclaimssubjecttoindemnificationunderthis
Agreement(each,aThirdPartyClaim),provided,howeverthefailuretogivesuchnotificationwillnotaffectthe
indemnificationprovidedhereunderunlesstheSellerismateriallyprejudicedbysuchfailureandhadnoactualknowledgeof
suchThirdPartyClaim,andthenonlytotheextentofsuchprejudice.UponreceiptofsuchnoticeofaThirdPartyClaim,Seller
shallhavetherighttoassumethedefenseofsuchThirdPartyClaimusingcounselofitschoicereasonablysatisfactoryto
Purchaserprovided,however,SellershallobtainthepriorwrittenapprovalofPurchaserbeforeenteringintoanysettlementof
suchThirdPartyClaimthatincludesanynonmonetaryrelief,remediesorobligationsthatwouldbeapplicabletoPurchaseror
thePurchasedAssets,whichapprovalshallnotbeunreasonablywithheld.IntheeventPurchaserreasonablyconcludesthat
theremaybelegaldefensesavailabletoitthataredifferentfromorinadditiontothoseavailabletoSeller,Purchasershallhave
therighttoselectseparatecounselandtootherwiseseparatelydefenditselfbutshallnotconsenttotheentryofajudgmentor
enterintoanysettlementwithrespecttotheThirdPartyClaim
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withoutthepriorwrittenconsentofSeller,whichconsentshallnotbeunreasonablywithheld.Anyexerciseofsuchrightsby
PurchasershallnotrelieveSellerofitsobligationsandliabilitiesunderthisSection11.01oranyotherprovisionofthis
Agreement.WithrespecttoanyThirdPartyClaimsubjecttoindemnificationunderthisAgreement,Purchaseragreesto
cooperateandcauseitsRelatedPartiestocooperateingoodfaithwithSellertoensuretheproperandadequatedefenseof
suchThirdPartyClaim.
Section11.02IndemnificationbyPurchaser.
Purchasershallindemnify,defendandholdSelleranditsRelatedPartiesharmlessfromandshallreimburseSellerandits
RelatedPartiesforanyLossessufferedorincurredbySelleroritsRelatedPartiesthatresultfromorariseoutof:
(a)AnybreachofarepresentationorwarrantybyPurchaser
(b)AnynonfulfillmentofanycovenantorobligationofPurchasercontainedinthisAgreementorintheInterim
ServicingAddendum
(c)AnyfailurebyPurchaseroritsdesigneestoserviceanyoftheMortgageLoansandMortgageServicingRights
aftereachServicingTransferDateincompliancewithallApplicableRequirements,exceptifandtotheextentsuchfailure
resultsfromabreachofarepresentationorwarrantybySelleroranyprioractoromissionofSelleroranyoriginatoror
priorservicerinviolationofApplicableRequirementsand
(d)SellerscooperationwithPurchasersfinancingeffortspursuanttoSection7.24hereof,includingthearrangement
ofsuchfinancingandinformationprovidedbySellerforsuchpurposeandutilizedinconnectiontherewith,without
regardtotherelativefaultofthePartiesoranyotherequitableconsiderations,excepttotheextentthatsuchinformation
providedbySellerismateriallyinaccurate
provided,however,thatSellerorRelatedPartyhastakenallreasonableandappropriateactionstomitigateanysuchLosses.
SellershallnotifyPurchaserpromptlyafterreceivingwrittennoticeoftheassertionofanyThirdPartyClaim,provided,
however,thatthefailuretogivesuchnotificationwillnotaffecttheindemnificationprovidedhereunderunlessthePurchaseris
materiallyprejudicedbysuchfailureandhadnoactualknowledgeofsuchThirdPartyClaim,andthenonlytotheextentof
suchprejudice.UponreceiptofsuchnoticeofaThirdPartyClaim,Purchasershallhavetherighttoassumethedefenseof
suchThirdPartyClaimusingcounselofitschoicereasonablysatisfactorytoSellerprovided,however,Purchasershallobtain
thepriorwrittenapprovalofSellerbeforeenteringintoanysettlementofsuchThirdPartyClaimthatincludesanynon
monetaryrelief,remediesorobligationsthatwouldbeapplicabletoSeller,whichapprovalshallnotbeunreasonablywithheld.
IntheeventSellerreasonablyconcludesthattheremaybelegaldefensesavailabletoitthataredifferentfromorinadditionto
thoseavailabletoPurchaser,Sellershallhavetherighttoselectseparatecounselandtootherwiseseparatelydefenditselfbut
shallnotconsenttotheentryofajudgmentorenterintoanysettlementwithrespecttotheThirdPartyClaimwithouttheprior
writtenconsentofPurchaser,whichconsentshallnotbeunreasonablywithheld.AnyexerciseofsuchrightsbySellershallnot
relievePurchaserofitsobligationsandliabilitiesunderthisSection11.02oranyotherprovisionofthisAgreement.With
respecttoanyThirdPartyClaimsubjecttoindemnificationunderthisAgreement,Selleragreestocooperateingoodfaithwith
PurchasertoensuretheproperandadequatedefenseofsuchThirdPartyClaim.
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Section11.03CureorRepurchase.
(a)SellershallrepurchasetheMortgageServicingRightswithrespecttoanyMortgageLoanfromPurchaserifSeller
oranAffiliateofSellerisobligatedtorepurchasetherelatedMortgageLoanfromtheapplicableInvestor.Sellershall
repurchasesuchMortgageServicingRightsfromthePurchaserattheRepurchasePrice,andreimbursePurchaserforthe
relatedoutstandingAdvancesthatwerepreviouslyreimbursedtoSellerbyPurchaserinaccordancewithArticleIIIofthis
AgreementandnotrecoveredbyPurchaser,oradvancesofthesametypeastheAdvancesthatwereproperlymadeby
PurchaseraftereachServicingTransferDatethatarefullyreimbursablepursuanttotherelatedServicingAgreementand
astowhichPurchaserisentitledtorecovery.
(b)ThePurchasePricerecaptureunderthisSection11.03andSection11.04(theRepurchasePrice)shallbesubject
tothefollowingprovisions:fromtheSaleDateoranySubsequentSaleDate,asapplicable,untilthefirstanniversaryof
theSaleDateorsuchSubsequentSaleDate,respectively,theSellershallpayPurchaseronehundred(100%)percentof
theapplicablePurchasePricePercentagemultipliedbytheunpaidprincipaloftherelatedMortgageLoanasofthedateof
repurchaseafterthefirstanniversaryoftheSaleDateoranySubsequentSaleDateanduntilthesecondanniversaryof
theSaleDateorsuchSubsequentSaleDate,respectively,theSellershallpayPurchaserseventyfive(75%)percentofthe
applicablePurchasePricePercentagemultipliedbytheunpaidprincipaloftherelatedMortgageLoanasofthedateof
repurchaseafterthesecondanniversaryoftheSaleDateoranySubsequentSaleDateanduntilthethirdanniversaryof
theSaleDateorsuchSubsequentSaleDate,respectively,theSellershallpayPurchaserfifty(50%)percentofthe
repurchaseafterthethirdanniversaryoftheSaleDateoranySubsequentSaleDateanduntilthefourthanniversaryof
theSaleDateorsuchSubsequentSaleDate,respectively,theSellershallpayPurchasertwentyfive(25%)percentofthe
repurchaseandafterthefourthanniversaryoftheSaleDateoranySubsequentSaleDate,theSellershallnotpayany
amountfortherelatedMortgageServicingRights.
(c)NotwithstandinganythingtothecontraryinthisAgreement,butsubjecttoPurchasersrighttoappealany
demandsbyanyInvestorandsubjecttoPurchasersrighttoindemnificationunderthisArticleXI,Purchaser
acknowledgesandagreesthatPurchasershallbeobligatedtocureand/orrepurchaseanyMortgageLoan,ifrequestedby
theapplicableInvestor,iftherepurchaserequiredbysuchInvestorresultsfromorarisesoutof(i)Purchasershaving
breachedanyrepresentation,warranty,covenant,orotherprovisionofthisAgreementinanyrespect,(ii)Purchasers
havingfailedtoserviceanyMortgageLoaninaccordancewithApplicableRequirementsandgenerallyaccepted
servicingpractices,or(iii)anyactoromissionofPurchaser(oranyofitsagentsorrepresentatives)whichcausedthe
SellertobreachanyServicingAgreementinanyrespect.
Section11.04SubsequentTransferDuetoRepurchase.
(a)IntheeventtheSellerisrequiredtorepurchaseanyMortgageServicingRightspursuanttoSection11.03or
otherwise,orrequestsarepurchaseofMortgageServicingRightsrelatedtoaMortgageLoanpursuanttothetermsof
thisAgreement,onthe
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nextavailableInvestortransferdateorsuchotherdateasagreedtobyPurchaserandSeller,Sellershalldeliverto
PurchasertherelatedRepurchasePriceandanyotheramountstowhichPurchasermaybeentitledunderthisAgreement
inconnectionwitharepurchaseandPurchasershalltransfertheMortgageServicingRightswithrespecttosuch
MortgageLoantoSeller.Uponsuchdate,thePurchasershallfullyreleaseitsownershipinterestinsuchMortgage
ServicingRightsandwillhavenoclaimtoownershipoforanyotherinterestinsuchMortgageLoan.
(b)IntheeventtheSelleroranAffiliateofSellerisrequiredtorepurchaseanyMortgageLoanspursuanttothe
applicableServicingAgreements,onthenextavailableInvestortransferdate,ifapplicable,orsuchotherdateasagreedto
byPurchaserandSeller,SellershalldelivertoPurchaserortheapplicableInvestor,asapplicable,therelatedRepurchase
PriceandthePurchasershalltransferorcooperateinthetransfer,asapplicable,oftheMortgageLoantoSeller.Upon
suchdate,thePurchasershallfullyreleaseitsownershipinterestintheMortgageServicingRightswithrespecttosuch
MortgageLoanandwillhavenoclaimtoownershipoforanyotherinterestinsuchMortgageLoan,andshallrecognize
theSellerastheownerofsuchMortgageLoanandrelatedMortgageServicingRights.
(c)IntheeventthattheSellerrepurchasesanyMortgageLoans,thePurchaseragreestocooperatewiththeSeller,
andanypartydesignatedasthesuccessorservicerorsubservicer,intransferringtheapplicableServicingtosuch
successorservicerand/orintransferringtheMortgageLoantoSeller.Inaddition,thePurchasershallberesponsiblefor
notifyingtherelatedMortgagorsofanytransferofServicinginaccordancewiththeApplicableRequirements.Onor
beforethedateuponwhichServicingistransferredfromthePurchasertoanysuccessorservicer,withrespecttooneor
moreoftheMortgageServicingRightsrelatedtoaMortgageLoanand/ortheMortgageLoanistransferredtoSeller,as
applicableandasdescribedintheprecedingparagraphsofthisSection11.04(theSubsequentTransferDate),the
Purchasershallprepare,executeanddelivertothesuccessorserviceranyandallMortgageLoanDocuments,datatapes,
andotherinstrumentsnecessaryorappropriatetoeffectthepurposesofServicing,andshalldeliverallcustodialand
escrowfundsrelatedtosuchMortgageLoans.ThePurchasershallreasonablycooperatewiththeSellerandsuch
successorservicerineffectingthetransferofthePurchasersresponsibilitiesandrightshereunderwithrespecttooneor
moreoftheMortgageServicingRightsrelatedtoaMortgageLoanand/orMortgageLoans.Sellershallbearallcostsand
expensesreasonablyrelatedtothetransferofsuchMortgageLoans(includingwithregardtoassignments(includingin
thecaseofanydeficientassignmentsthatareresentforrecordationbyPurchaser)).Notwithstandingtheforegoing,the
PartiesmayagreetothecontinuedservicingorsubservicingofanyrelatedMortgageLoanbyPurchaseroranAffiliate
thereofonbehalfofSeller,commencingonsuchSubsequentTransferDate,pursuanttoanyexistingornewservicingor
subservicingagreementwithSeller.Insuchevent,PurchasershallnotberequiredtonotifyrelatedMortgagorsofthe
transferofservicingordelivertoSellersuchMortgageLoanDocuments,datatapes,orotherinstruments,custodialor
escrowfunds,totheextentagreedbytheParties.
Section11.05CompensatoryFees.
(a)AsbetweenPurchaserandSeller,SellershallberesponsibleandliabletoFHLMCforFHLMCimposedfeesor
penaltiesrelatedtoanyMortgageLoanforeclosures
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exceedingFHLMCsrequiredtimelines(theAgencyFees)thatpertaintotheperiodpriortoeachServicingTransfer
Date,andshallberesponsibleandliabletoPurchaserifsuchAgencyFeesarerecoveredbyFHLMCfromPurchaser
provided,thatnothinghereinisintendedtolimitorotherwiseimpairtherightofSellertodisputewithFHLMCany
responsibilityorliabilityforsuchamountsclaimedthereby.PurchasershallnotifySellerwithinfive(5)BusinessDaysof
anyFHLMCdemandsforsuchAgencyFeesandpermitSellertoreasonablycontestand/orappealsuchdemands(tothe
extentpermissiblebyFHLMC),andifrequestedbySeller,PurchasershallpaysuchAgencyFeessubjecttoawritten
reservationofSellersrightstodisputesuchAgencyFees.
(b)NotwithstandingSection11.05(a),Sellershalluseitscommerciallyreasonableeffortstoexecuteasettlement
agreementwithFHLMC(andshalltimelypayanyamountstoFHLMCasrequiredinaccordancewiththetermsthereof)
withinninety(90)daysfollowingtheEffectiveDatewithrespecttoanyAgencyFeesoutstandingasoftheSaleDate
provided,that,duringsuchninety(90)dayperiod,SellerandPurchasershallnegotiateingoodfaithtodeterminea
frameworkwithrespecttotheobligationsofeachpartytopayanysuchAgencyFees,whichframeworkshalltakeeffect
upontheexpirationofsuchninety(90)dayperiodintheeventthatSellerandFHLMCdonotexecutesuchsettlement
agreementpriorthereto.
Section11.06OtherIndemnificationProvisions.
OtherthantoseektocompelperformanceaPartysobligationsundertheAgreement,theindemnificationandcureand
repurchaseprovisionsofthisArticleXIshallbethesoleandexclusiveremediesofeachPartyandtheirrespectiveRelated
Parties(a)foranybreachofanyrepresentation,warranty,covenantoragreementbytheotherPartycontainedinthis
Agreementand(b)arisingoutofthetransactionscontemplatedbythisAgreement,eitherunderthisAgreement,atlaworin
equity.Fortheavoidanceofdoubt,therightofanyPersontoreceiveanindemnificationpaymentorpaymentinconnection
witharepurchaseunderthisArticleXIshallnotcreatearighttooffsetagainstsuchindemnificationorrepurchasepayment
anyfeeorpaymentpayablebysuchPersonunderthisAgreementprovided,however,thatsuchPersonshallhavearightto
offsetagainstsuchpaymentanysuchfeeorpaymentpayablebysuchPersonunderthisAgreementtotheextentthatsuch
payment(i)hasbeenagreedtobythePartiesinwritingor(ii)hasbeendeterminedpursuanttoafinalandnonappealableaward
ordecisionbyanarbitratorinaccordancewithSection12.10or,ifapplicable,acourtofcompetentjurisdiction.
Section11.07LimitationsonIndemnification.
(a)InadditiontotheotherlimitationscontainedinthisAgreement,theindemnificationobligationsofSellerunder
thisArticleXIaresubjecttothefollowingtermsandconditions:(i)SellershallbeliabletothePurchaserandPurchaser
RelatedPartiesunderSections11.01(a)and11.01(c)(exceptwithrespecttoFundamentalReps,towhichthisclause
(i)shallnotapply)onlyiftheaggregateamountofallLossesunderSections11.01(a)and11.01(c)exceedsoneandone
halfpercent(1.5%)ofthePurchasePriceactuallypaid(theThreshold),inwhichcaseSellershallbeobligatedto
indemnifythePurchaserandPurchaserRelatedPartiesfortheaggregateamountofallsuchLossesunderSections
11.01(a)and11.01(c)inexcessoftheThresholdand(ii)Sellershallhavenoliabilityforindemnificationhereunderforany
Lossarisingfromachangeinorcontraryjudicialinterpretationofanyfederal,foreign,stateorlocallawaftertheSaleDate
havingaretroactiveeffect.
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(b)InadditiontotheotherlimitationscontainedinthisAgreement,exceptwithrespecttoPurchasersobligationto
paythePurchasePriceandreimburseSellerforAdvancesinaccordancewiththetermsofthisAgreement,Purchasers
indemnificationobligationsunderthisArticleXIaresubjecttothefollowingtermsandconditions:Purchasershallbe
liabletotheSellerandSellerRelatedPartiesunderSections11.02(a)and11.02(c)(exceptwithrespecttoFundamental
Reps,towhichthislimitationshallnotapply)onlyiftheaggregateamountofallLossesunderSections11.02(a)and
11.02(c)exceedstheThreshold,inwhichcasePurchasershallbeobligatedtoindemnifytheSellerandSellerRelated
PartiesforallsuchLossesunderSections11.02(a)and11.01(c)inexcessoftheThreshold.
(c)Indetermining(i)whethertherehasbeenabreachofanyrepresentationorwarrantybySellerorPurchaser
pursuanttoSection11.01(a)orSection11.02(a),respectively,and(ii)theamountofanyLossarisingfromsuchbreach,
suchrepresentationandwarrantyshallbeconsideredwithoutregardtoanyqualificationbyorreferencetothewords
SellerMaterialAdverseEffect,PurchaserMaterialAdverseEffect,material,materiallyoranyothersimilarwords
containedtherein.
Section11.08Survival.
AlloftherepresentationsandwarrantiesofSellercontainedinArticleIVandalloftherepresentationsandwarrantiesof
PurchasercontainedinArticleVIshallsurvivetheSaleDateorSubsequentSaleDate,asapplicable,andcontinueinfullforce
andeffectforaperiodofeighteen(18)monthsthereafter(exceptinthecaseofFundamentalReps,whichshallsurvive
indefinitely)and,exceptasotherwiseprovidedinthisSection11.08,noPersonmayseekindemnification,cureorrepurchase
underthisArticleXIwithrespecttoabreachofsuchrepresentationsandwarrantiesaftertheexpirationofsucheighteen
(18)monthperiod.AlloftherepresentationsandwarrantiesofSellercontainedinArticleVshallsurvivetheSaleDateor
SubsequentSaleDate,asapplicable,andcontinueinfullforceandeffectforaperiodofeighteen(18)monthsthereafter(except
inthecaseofFundamentalReps,whichshallsurviveindefinitely,andexceptinthecaseofSection5.03(Advances),which
shallsurviveforfortyeight(48)months)and,exceptasotherwiseprovidedinthisSection11.08,PurchaseranditsRelated
Partiesmaynotseekindemnification,cureorrepurchaseunderthisArticleXIwithrespecttoabreachofsuchrepresentations
andwarrantiesaftertheexpirationofsucheighteen(18)monthperiodprovided,however,that,inthecaseofanyThirdParty
Claims,PurchaseranditsRelatedPartiesshallbeentitledtoseekindemnification,cureorrepurchaseunderthisArticleXIwith
respecttoabreachofsuchrepresentationsandwarrantiesforaperiodoffortyeight(48)monthsfollowingtheSaleDateor
SubsequentSaleDate,asapplicable.TheindemnificationobligationsofSellerandPurchaserunderSection11.01(c)and
11.02(c),respectively,shallsurvivetheSaleDateorSubsequentSaleDate,asapplicable,andcontinueinfullforceandeffect
foraperiodofeighteen(18)monthsthereafterand,exceptasotherwiseprovidedinthisSection11.08,PurchaserandSellerand
theirrespectiveRelatedPartiesmaynotseekindemnificationunderSections11.01(c)and11.02(c),respectively,withrespectto
afactorcircumstancethatgivesrisetosuchindemnificationaftertheexpirationofsucheighteen(18)monthperiodprovided,
however,that,inthecaseofanyThirdPartyClaims,PurchaserandSellerandtheirrespectiveRelatedPartiesmayseek
indemnificationunderSections11.01(c)and11.02(c),respectively,foraperiodoffortyeight(48)monthsfollowingtheSale
Dateor
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SubsequentSaleDate,asapplicable.Suchsurvivalperiodsinallcasesshallbeextendedtofive(5)yearswithrespecttoclaims
byPurchaseragainstSellerarisingoutoforresultingfrommissingormateriallyinaccurateCreditandServicingFilesin
violationofApplicableRequirementsastowhichPurchasercannotdeterminewithreasonablecertaintytheApplicable
Requirementsthereof.Theforegoinglimitationsshallnotapplywithrespecttothosespecificpendingclaimsfor
indemnificationforwhichtherequisitewrittennoticewasgivenbyeitherPartytotheotherPartyonorpriortotheendofthe
applicablesurvivalperiodandastowhichLosseshavebeguntoaccrue.ThePartiesrespectivecovenantsandagreements
containedinthisAgreementtobeperformedatoraftertheSaleDateorSubsequentSaleDate,asapplicable,shallsurvive
indefinitelyunlessotherwisesetforthhereinprovided,however,thatanysuchsurvivalshallnotbedeemed,directlyor
indirectly,toaffectthesurvivalperiodsspecificallyapplicabletoclaimswithrespecttorepresentationsandwarrantiesand
indemnitiesprovidedinthisSection.
Section11.09TreatmentofIndemnityPayments.
AmountspaidunderthisArticleVIIshallbetreatedasadjustmenttothePurchasePriceandthePartieswillreportsuch
paymentsconsistentwithsuchtreatment,unlessthereisnobasisfordoingsounderapplicablelaw
ARTICLEXII
MISCELLANEOUS
Section12.01CostsandExpenses.
EachofthePartiesheretoshallbearitsownfees,expensesandcommissionsoffinancial,legalandaccountingadvisors
andotheroutsideconsultantsincurredinconnectionwiththeduediligence,negotiationandexecutionofthisAgreementand
theTransactions.Inaddition,Sellershallberesponsibleforallcosts,feesandexpensesrelatingto:(i)fileshippingcostsand
imagetransfercostsinconnectionwiththesaleoftheMortgageServicingRightscontemplatedherein(ii)allregistrationfees
ortransfercostsassessedbyMERStoreflectthetransferoftheMortgageLoansregisteredwithMERS(iii)allfeesandcosts
requiredtogenerateanddeliver(andrecord)AssignmentsofMortgageinstrumentstoPurchaser(includingthereimbursement
ofPurchaserforanyrequiredrerecordingsmadetherebyasprovidedinSection7.01(b))(iv)transferfeesandexpenses
(including,fortheavoidanceofdoubt,legalfees)imposedorincurredbytheapplicableInvestororratingagenciestoprocess
arequestforServicingAgreementConsent(v)exceptasprovidedinSection7.19,allfeesandexpensesofSellersCustodian
totransfertheMortgageLoanstothePurchasersCustodian,ifapplicableand(vi)thefilingoftransfersofclaimsby
PurchaserasprovidedinSection7.03(d).Purchasershallberesponsibleforallfees,costsandexpensesrelatingtothe
retentionofabackupservicerthattheapplicableInvestormayrequireasaconditiontoprovidingaServicingAgreement
Consent,aswellas,exceptotherwisesetforthinthisAgreement,allcostsandexpensespertainingtoconductoftheServicing
byPurchaserfollowingitsconsummationoftheTransactions.
Section12.02Confidentiality.
EachPartyunderstandsthatcertaininformationwhichithasbeenfurnishedandwillbefurnishedinconnectionwiththe
Transactions,includinginformationconcerningbusinessprocedures,servicingfeesorprices,NonPublicPersonalInformation
and/orPersonallyIdentifiable
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FinancialInformation(asthosetermsaredefinedinSections573.3(n)and(o)oftheOfficeofThriftSupervisionRegulationson
PrivacyofConsumerInformationpublishedat12C.F.R.ChapterVimplementingTitleVoftheGrammLeachBlileyAct),
policiesorplansoftheotherPartyoranyofitsAffiliates,isconfidentialandproprietary,andeachPartyagreesthatitwill
maintaintheconfidentialityofsuchinformationandwillnotdiscloseittoothers(exceptforitsAffiliatesanditsandtheir
respectivedirectors,managers,officers,employees,financingsources,agents,representativesandadvisorswhohaveaneed
toknowsuchinformation)oruseit,exceptinconnectionwiththeproposedacquisitioncontemplatedbythisAgreementoras
suchPartyreasonablydeterminesnecessaryasapartofitsfilingofSecuritiesandExchangeCommissionForms8K,10Qor
10Kasrelatedtodisclosurestoinvestors,withoutthepriorwrittenconsentofthePartyfurnishingsuchinformation(and
providedinconnectionwithsuchSecuritiesandExchangeCommissionfilings,thePartyintendingtodisclosesuchinformation
shallprovidetheotherPartywithdraftsoftherelevantportionsofsuchfilingssufficientlyinadvanceofsuchfilingtoallow
theotherPartyareasonableopportunitytoreviewandcomment,andshallreasonablyconsiderthecommentsprovidedbythe
otherParty).InformationwhichisgenerallyknownintheindustryconcerningaPartyoramongsuchPartyscreditors
generallyorwhichhasbeendisclosedtotheotherPartybythirdpartieswhohavearighttodososhallnotbedeemed
confidentialorproprietaryinformationforthesepurposes(provided,howeverthatthepublicannouncementofsuch
informationmaybesubjecttoSection12.14,asprovidedtherein).IfPurchaser,anyofitsAffiliatesoranyofficer,director,
employeeoragentofanyoftheforegoingisatanytimerequestedorrequiredtodiscloseanyinformationsuppliedtoitin
connectionwiththeTransactions,PurchaseragreestoprovideSellerwithpromptnoticeofsuchrequest(s)sothatSellermay
seekanappropriateprotectiveorderand/orwaivePurchaserscompliancewiththetermsofthisSection12.02.IfSeller,anyof
itsAffiliatesoranyofficer,director,employeeoragentofanyoftheforegoingisatanytimerequestedorrequiredtodisclose
anyinformationsuppliedtoitinconnectionwiththeTransactions,SelleragreestoprovidePurchaserwithpromptnoticeof
suchrequest(s)sothatPurchasermayseekanappropriateprotectiveorderand/orwaiveSellerscompliancewiththetermsof
thisSection12.02.NotwithstandingthetermsofthisSection12.02,if,intheabsenceofaprotectiveorderorthereceiptofa
waiverhereunder,thePurchaserorSellerisnonetheless,intheopinionofitscounsel,compelledtodiscloseinformation
concerningtheotherPartytoanytribunalorelsestandliableforcontemptorsufferothercensureorpenalty,thePurchaseror
Sellermaydisclosesuchinformationtosuchtribunalwithoutliabilityhereunder.Iftheproposedacquisitionisnot
consummated,eachPartyagreestopromptlyreturntotheother,immediatelyuponrequest,allconfidentialmaterials,andall
copiesthereof,whichhavebeenfurnishedtoitinconnectionwiththeTransactions.
Section12.03BrokersFees.
EachPartyheretorepresentsandwarrantstotheotherthatithasmadenoagreementtopayanyfinders,agents,
brokersororiginatorsfeearisingoutoforinconnectionwiththesubjectmatterofthisAgreement,otherthanSellers
agreementswithPhoenixCapitalInc.andMerrillLynch,Pierce,Fenner&SmithIncorporated.Sellershallberesponsibleforall
feesduetoPhoenixCapitalInc.andMerrillLynch,Pierce,Fenner&SmithIncorporated.IntheeventthePurchaserentersinto
anagreementtopayanyfinders,agents,brokers,advisorsororiginatorsfeearisingoutoforinconnectionwiththesubject
matterofthisAgreement,Purchasershallbesolelyresponsibleforallsuchfees.ThePartiesheretoshallindemnifyandhold
eachotherharmlessfromandagainstanysuchobligationorliabilityandanyexpenseincurredininvestigatingordefending
(includingreasonableattorneysfees)anyclaimbasedupontheotherPartysactionsinconnectionwithsuchobligation.
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Section12.04Notices.
Allnotices,requests,demandsandothercommunicationswhicharerequiredorpermittedtobegivenunderthis
Agreementshallbeinwritingandshallbedeemedtohavebeengivenifpersonallydeliveredorsentbyregisteredorcertified
mail,returnreceiptrequested,postageprepaidorbyprepaidovernightdeliveryservice:
(a) IftothePurchaser,to: NationstarMortgageLLC
350HighlandDrive
Lewisville,Texas75067
Attention:GeneralCounsel
Withacopyto:
(b) IftotheSeller,to:
Withacopyto:
Withacopyto:
SidleyAustinLLP
OneSouthDearborn
Chicago,Illinois60603
Attn:ChrisE.AbbinanteandSethH.Katz
BankofAmerica
BankofAmericaOfficePark
9000SouthsideBlvd.Bldg400
Jacksonville,Florida322560787
Attn:LarryWashington
BankofAmerica
4500ParkGranada
Calabasas,California91302
Attn:PaulLiu
K&LGatesLLP
1601KSt.N.W.
Washington,D.C.20006
Attn:LaurenceE.Platt
ortosuchotheraddressasPurchaserorSellershallhavespecifiedinwritingtotheother.
Section12.05Waivers.
EitherPurchaserorSellermay,bywrittennoticetotheother:
(a)Extendthetimefortheperformanceofanyoftheobligationsorothertransactionsoftheotherand
(b)Waivecompliancewithorperformanceofanyoftheterms,conditions,covenantsorobligationsrequiredtobe
compliedwithorperformedbytheotherhereunder.
ThewaiverbyPurchaserorSellerofabreachofanyprovisionofthisAgreementshallnotoperateorbeconstruedasa
waiverofanyothersubsequentbreach.
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Section12.06EntireAgreementAmendment.
ThisAgreementandtheTransactionDocumentsconstitutetheentireagreementbetweenthePartieswithrespecttothe
saleofthePurchasedAssetsandsupersedeallprioragreementswithrespectthereto.ThisAgreementmaybeamendedonlyin
awritteninstrumentsignedbybothSellerandPurchaser.
Section12.07BindingEffect.
ThisAgreementshallinuretothebenefitofandbebindinguponthePartiesheretoandtheirsuccessorsandassigns.
NothinginthisAgreement,expressorimplied,isintendedtoconferonanyPersonotherthanthePartiesheretoandtheir
successorsandassigns,anyrights,obligations,remediesorliabilities.
Section12.08Headings.
HeadingsontheArticlesandSectionsinthisAgreementareforreferencepurposesonlyandshallnotbedeemedtohave
anysubstantiveeffect.
Section12.09ApplicableLaw.
ThisAgreementshallbeconstruedinaccordancewiththelawsoftheStateofNewYorkandtheobligations,rightsand
remediesofthePartieshereundershallbedeterminedinaccordancewiththelawsoftheStateofNewYorkapplicableto
contractsexecutedinandtobeperformedinthatstate,excepttotheextentpreemptedbyFederallaw.ThePartiesagreeto
waivetrialbyjuryintheeventofanydisputeunderthisAgreement.
Section12.10DisputeResolution.
Anydispute,claim,orcontroversyarisingoutoforrelatingtothisAgreementorthebreach,termination,enforcement,
interpretation,orvaliditythereof,includingthedeterminationofthescopeorapplicabilityofthisagreementtoarbitrate,shall
bedeterminedbyarbitrationinthecityofNewYork,NewYork,beforeoneorthreeneutralarbitratorsasdescribedbelow.The
arbitrationshallbeadministeredbyJAMSpursuanttoitsComprehensiveArbitrationRules&Procedures,includingin
appropriateinstancesasdescribedbelow,itsStreamlinedArbitrationRules&Procedures(collectivelytheRules).Judgment
onanyawardmaybeenteredinanycourthavingjurisdiction.Thisclauseshallnotprecludethepartiesfromseeking
provisionalremediesinaidofarbitrationfromacourtofappropriatejurisdiction.TheRulesshallbesupplementedbythe
provisionsdescribedbelow.IntheeventofanyconflictbetweentheRulesandtheprovisionsdescribedbelow,such
provisionsshallcontrol.
(a)Anydisputeinwhichaclaimexceedstwohundredfiftythousanddollars($250,000)shallbedecidedbythree
(3)neutralarbitrators(each,anArbitrator)appointedbyJAMSinaccordancewiththeRules.Anydisputeinwhicha
claimislessthantwohundredfiftythousanddollars($250,000)shallbedecidedbyone(1)neutralArbitratorappointed
byJAMSinaccordancewiththeRulesandshallbegovernedbyJAMSStreamlinedArbitrationRules&Procedures.Any
ArbitratorappointedbyJAMSshallbearetiredjudgeorapracticingattorneywithnolessthanfifteenyearsof
experienceasanarbitrator
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(b)Foranydisputeinwhichtheclaimislessthantwohundredfiftythousanddollars($250,000)theArbitratoris
authorizedtorenderapartialorfullsummaryjudgment,inamannersimilartotheprocedureprovidedforinRule56ofthe
FederalRulesofCivilProcedure
(c)TheArbitrator(s)shallfollowthelawoftheStateofNewYorkasdesignatedbythePartiesherein
(d)TheArbitrator(s)shallhavenopowerorauthority,undertheRulesorotherwise,torelievethePartiesfromtheir
agreementhereundertoarbitrateorotherwisetoamendordisregardanyprovisionofthisAgreement,including,without
limitation,theprovisionsofthisSection12.10
(e)TheArbitrator(s)shallhavetheauthoritytograntinjunctivereliefandorderspecificperformance
(f)TheArbitrator(s)shallnothavetheauthoritytoawardconsequentialorpunitivedamagesoranyformofdamages
otherthancompensatorydamages
(g)EachPartyshallpayonehalfofthefeesandexpensesoftheArbitrator(s)andonehalfoftheJAMScase
managementfeesand
(h)Thearbitrationproceedingsandalltestimony,filings,documents,andinformationrelatingtoorpresentedduring
thearbitrationproceedingsshallbedeemedtobeinformationsubjecttotheconfidentialityprovisionsofthisAgreement.
(i)Notwithstandingtheforegoing,intheeventthatthedisputebetweenthepartiesinvolvesthecorrectionoferrors
pursuanttoSection3.03ofthisAgreement,thePartiesmayelectinsteadtojointlyengageamutuallyacceptable,
nationallyrecognizedindependentaccountingfirmtodeterminesuchdispute.Theselectedaccountingfirmshallbe
instructedtoreachitsdeterminationwithinthirty(30)daysfollowingitsengagementandsuchdeterminationshallbefinal
andbindingonthePartiesandshallnotbesubjecttoreviewbyanycourtoflawabsentmanifesterrorprovided,
howeverthat:(i)theaccountingfirmsengagementshallbelimitedtoresolvinganyamountsindisputebetweenthe
PartiesbasedsolelyontheinformationpresentedbythePartiesprovidedfurther,however,thateachPartyshallprovide
theotherPartywithcopiesofinformationinitspossessionandcontrol,orthatcouldotherwisebereasonablyobtained,
withrespecttothedisputeuponthereasonablewrittenrequestofsuchotherParty(ii)theaccountingfirmshalldeliver
toeachofthePartiesawrittenreportsettingforthitsdeterminationofthedisputealongwithanyrelatedcalculationsand
(iii)thefees,costs,andexpensesoftheaccountingfirmshallbeallocatedtothePartiesbasedonthepercentagewhich
theportionofthedisputedamountnotawardedtoeachPartybearstothetotalamountdisputedbysuchParty.Any
requestbyaPartytoadjustthePurchasePriceorsuchotheramountspursuanttothisSection12.10(i)mustbereceived
bytheotherPartywithinonehundredeighty(180)daysoftheapplicableServicingTransferDate.
Section12.11IncorporationofExhibitsandSchedules.
TheExhibitsandSchedulesheretoshallbeincorporatedhereinandshallbeunderstoodtobeaparthereofasthough
includedinthebodyofthisAgreement.
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Section12.12Counterparts.
ThisAgreementmaybeexecutedincounterparts,eachofwhich,whensoexecutedanddelivered,shallbedeemedtobe
anoriginalandallofwhich,takentogether,shallconstituteoneandthesameagreement.
Section12.13SeverabilityofProvisions.
Ifanyoneormoreofthecovenants,agreements,provisionsortermsofthisAgreementshallbeforanyreason
whatsoeverheldinvalid,thensuchcovenants,agreements,provisionsortermsshallbedeemedseverablefromtheremaining
covenants,agreements,provisionsortermsofthisAgreementandshallinnowayaffectthevalidityorenforceabilityofthe
otherprovisionsofthisAgreementoroftherightsofthePartieshereto.
Section12.14PublicAnnouncement.
NopublicreleaseorstatementconcerningthesubjectmatterofthisAgreementshallbemadebyeitherPartyoranyof
theirrespectiveAffiliatesorrepresentativeswithouttheexpresswrittenconsentandapprovaloftheotherParty,exceptas
requiredbyapplicablelaw,includingtheSecuritiesExchangeActof1934,judicialandadministrativejudgments,ordersor
remediationplans,oranylistingagreementwithorrulesofanystockexchange,inwhichcasethePartyrequiredtomakethe
releaseorannouncementshallnotifytheotherPartyand,totheextentpossible,allowtheotherPartyreasonabletimeto
commentonsuchreleaseorannouncementinadvanceofsuchissuance,andsuchpublicreleaseorstatementshallfurtherbe
subjecttoSection12.02,ifapplicable.ThePartiesshalluseallreasonableeffortsto(a)developajointcommunicationsplan
(b)ensurethatallpublicreleases(orportionsthereof)andotherpublicstatementswithrespecttotheTransactionsshallbe
consistentwithsuchjointcommunicationsplanand(c)unlessotherwiserequiredbyapplicablelaw,judicialandadministrative
judgments,ordersorremediationplans,oranylistingagreementwithorrulesofanystockexchange,toconsultwitheachother
beforeissuinganypublicreleaseorotherwisemakinganypublicstatementwithrespecttotheTransactionDocumentsorthe
Transactions.
Section12.15Assignment.
NeitherPartymayassignorsubcontractalloranypartofthisAgreement,oranyinterestherein,withoutthepriorwritten
consentoftheotherparty,andanypermittedassigneeshallassumetheassignorsobligationsunderthisAgreement
provided,that,notwithstandingtheforegoing,Purchasershallbepermittedtoassign(a)itsrightsandinterestsin(x)following
theapplicableServicingTransferDate,theAdvancesand(y)followingtheapplicableSaleDateorSubsequentSaleDate,the
MortgageServicingRights,ineachcasetobeacquiredhereundertoanyofitsfinancingsourcesascollateralsecurityand
(b)followingthecompletionofthetransactions,subjecttoandincompliancewithSection7.26hereof,thisAgreementandany
orallrightsorobligationshereunder(includingPurchasersrightstopurchasethePurchasedAssets)tooneormoreAffiliates
ofPurchaser,butineithercase,nosuchassignmentshallrelievePurchaserofitsobligationshereunder.
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Section12.16ConflictsbetweenTransactionDocuments.
Intheeventofanyconflict,inconsistencyorambiguitybetweenthetermsandconditionsofthisAgreement(including,
fortheavoidanceofdoubt,theInterimServicingAddendum)andanyTransferConfirmation,thetermsofthisAgreementshall
control.
Section12.17NoThirdPartyBeneficiaries.
ExceptasprovidedinSection7.09(b)relatingtoMortgagors,andtheprovisionsofSections11.01and11.02relatingto
PurchasersRelatedPartiesandSellersRelatedParties,respectively,thisAgreementisforthesolebenefitofthePartiesand
theirrespectivesuccessorsandpermittedassigns,andnothinghereinexpressedorimpliedshallgiveorbeconstruedtogive
toanyPerson,otherthanthePartiesandsuchrespectivesuccessorsandpermittedassigns,anyrights,remedies,obligations
orliabilitiesunderorbyreasonofthisAgreement.Fortheavoidanceofdoubt,SellerandPurchaseracknowledgeandagree
thatMortgagorsarenotthirdpartybeneficiariesofthisAgreement,except,ifandtotheextentrequiredbyApplicable
Requirements,forthefirsttwosentencesofSection7.09(b).
Section12.18Disclosures.
PursuanttothisAgreement,certainSchedulesandExhibitsheretocontaindisclosuresthatarenecessaryorappropriate
eitherinresponsetoanexpressdisclosurerequirementcontainedinaprovisionhereoforasanexceptiontooneormore
representationsorwarrantiescontainedinArticleVortooneormoreofthecovenantsofSellercontainedinthisAgreement.
Notwithstandinganythingtothecontraryherein,orinsuchdisclosures,theinclusionofaniteminsuchdisclosuresshallnot
bedeemedanadmissionbySellerthatsuchitemrepresentsamaterialexceptionorevent,stateoffacts,circumstance,
development,changeoreffect,orthatsuchitemhasorwillresultinaSellerMaterialAdverseEffect.
[signaturesonfollowingpage]
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INWITNESSWHEREOF,eachoftheundersignedPartiestothisAgreementhascausedthisAgreementtobeduly
executedinitscorporatenamebyoneofitsdulyauthorizedofficers,allasofthedatefirstabovewritten.
NATIONSTARMORTGAGELLC
Purchaser
By: /s/AmarPatel
Name: AmarPatel
Title: ExecutiveVicePresident
BANKOFAMERICA,NATIONAL
ASSOCIATION
Seller
By: /s/RonD.Sturzenegger
Name: RonD.Sturzenegger
Title: LegacyAssetServicingExecutive
[MortgageServicingRightsPurchaseandSaleAgreement]
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EXHIBITA3
DEPOSITCALCULATION
$62,672,528.04
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OmittedSchedulesandAttachments
ExhibitstoMortgageServicingRightsPurchaseandSaleAgreement
ExhibitA:
ContentsofMortgageLoanSchedule
ExhibitA1: EstimatedPurchasePriceComputationWorksheet
ExhibitA2: PurchasePriceComputationWorksheet
ExhibitB:
FormofTransferConfirmation
ExhibitC:
DataTransferSpecifications
ExhibitD:
OfficersCertificate
ExhibitE:
ServicingTransferInstructions
ExhibitF:
PurchasePricePercentage
ExhibitG:
InterimServicingAddendum
ExhibitH:
DataFieldsforSharingofInformation
ExhibitI:
MortgageAssignmentProtocol
ExhibitJ:
FormofPowerofAttorney
ExhibitK:
EscrowAgreement
ExhibitL:
MICovenants
Schedule3.02(a):
Schedule5.01(a)(iii):
Schedule5.01(c)(i):
ServicingTransferDates
JudicialandAdministrativeJudgments,OrdersRemediationPlans,Stipulations,Awards,Writsand
InjunctionsAssumedbyPurchaser
PreliminaryListofPLSServicingAgreements
PursuanttoItem601(b)(2)ofRegulationSK,theregistrantherebyundertakestofurnishsupplementallyacopyofanyofthe
abovelistedschedulesandattachmentstotheCommissionuponrequest
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(a) IftothePurchaser,to: NationstarMortgageLLC

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