Professional Documents
Culture Documents
Between
WASHINGTONMUTUALBANK
(Servicer)
and
WASHINGTONMUTUALMORTGAGESECURITIESCORP.
(AdministrativeAgent)
DatedasofFebruary1,2005
ResidentialFirstLienMortgageLoans
DOCSSF1:813872.6
ADMINISTRATIVEAGENTAGREEMENT
(WashingtonMutualBankWashingtonMutualMortgageSecuritiesCorp.)
ThisAdministrativeAgentAgreement(theAdministrativeAgentAgreement),ismade
betweenWashingtonMutualBank,formerlyknownasWashingtonMutualBank,FA,inits
capacityasservicer(theServicer),andWashingtonMutualMortgageSecuritiesCorp.,andits
successorsandassigns,initscapacityasAdministrativeAgent(theAdministrativeAgent),
st
effectiveasofthe1 dayofFebruary,2005.
PRELIMINARYSTATEMENT
WHEREAS,theServicerservicescertainMortgageLoanspursuanttooneormore
PoolingAgreements;
WHEREAS,theServicerdesirestoretaintheAdministrativeAgenttoperformcertain
serviceswithrespecttotheMortgageLoans,andtheAdministrativeAgentdesirestobeso
retained;
NOWTHEREFORE,inconsiderationofthemutualcovenantshereincontainedand
othergoodandvaluableconsideration,thereceiptandsufficiencyofwhicharehereby
acknowledged,theServicerandtheAdministrativeAgentagreeasfollows:
ARTICLEI
DEFINITIONS
Wheneverusedherein,thefollowingwordsandphrases,unlessthecontext
otherwiserequires,shallhavethefollowingmeanings:
1.1 AdministrativeAgentFee:ThefeepayablebytheServicertotheAdministrative
AgentinconsiderationoftheAdministrativeAgentperformingtheServiceswithrespecttothe
MortgageLoans.
1.2 Agreement:ThisAdministrativeAgentAgreementandallamendmentshereof
andsupplementshereto.
1.3 Certificate Account:Thecertificateaccount(orotherequivalentaccount)
establishedandmaintainedwiththeapplicableTrusteepursuanttoeachapplicablePooling
Agreement.
1.4 CustodialAccountforP&I:Thecustodialaccountforprincipalandinterest
establishedandmaintainedbytheServicerpursuanttoeachapplicablePoolingAgreement.
1.5 Investment Account:Theinvestmentaccount(orinvestmentaccounts)
establishedandmaintainedbytheServicerpursuanttothePoolingAgreements.
1.6 Loss Certification:AcertificationprovidedbytheServicertotheAdministrative
AgentdetailingliquidationproceedsintheformattachedasExhibitC.
DOCSSF1:813872.6
1.7 Mortgage
Loan:AmortgageloanlistedontheMortgageLoanSchedule.
1.8 MortgageLoanSchedule:Aschedule,deliveredbytheServicertothe
AdministrativeAgentfromtimetotime,ofmortgageloansservicedbytheServicerpursuanttoa
PoolingAgreementandwithrespecttowhichmortgageloanstheAdministrativeAgentisto
performitsservicespursuanttothisAgreement.
1.9 Pooling Agreement:WithrespecttoanyMortgageLoan,theapplicablepooling
andservicingagreementorotherlikedocument,pursuanttowhichtheServicerservicessuch
MortgageLoan.
1.10 Securities:WithrespecttoanyPoolingAgreement,thecertificatesorother
securitiesissuedundersuchPoolingAgreement.
1.11 Services:ThefunctionsdescribedunderAdministrativeAgentRequirementsin
ExhibitAattachedhereto.
WithrespecttoeachMortgageLoan,anycapitalizedtermusedhereinbutnotdefined
hereinshallhavethemeaningascribedtheretointherelatedPoolingAgreement.
ARTICLEII
SERVICESTOBEPERFORMEDBYADMINISTRATIVEAGENT
2.1
CoveredServices. TheAdministrativeAgentagreestoperformthe
ServiceswithrespecttotheMortgageLoans.TheAdministrativeAgentagreestoperformthe
ServiceswithrespecttoeachMortgageLoaninaccordancewithallofthetermsandconditions
oftheapplicablePoolingAgreement.Subjectonlytoapplicablelaw,andthetermsofthis
Agreement,theapplicablePoolingAgreement,andtherespectiveMortgageLoans,the
AdministrativeAgentshallhavefullpowerandauthority,actingalone,todoorcausetobedone
anyandallthingsinconnectionwiththeServiceswhichitmaydeemnecessaryordesirable.
TheAdministrativeAgentshallhavenoobligationtoperformanyservicesotherthanthe
Services.TheServiceragreestoperformthefunctionsdescribedunderServicerRequirements
inExhibitAattachedhereto.
2.2
AdministrativeAgent'sCompensation .TheAdministrativeAgentshallbe
entitledtotheAdministrativeAgentFee,payablebytheServicerorretainedbythe
AdministrativeAgent,asapplicable,intheamountandinthemannersetforthinExhibitB
attachedhereto.
2.3
AnnualCertificateastoCompliance .OnorbeforeMarch15,2006,andonor
beforeMarch15ofeachyearthereafter,theAdministrativeAgentshallprovidetotheServicera
certificateofanofficeroftheAdministrativeAgentrelatingtotheAdministrativeAgent's
performanceofitsdutieshereunder,whichofficer'scertificateshallbeinformandsubstance
withrespecttotheServicessubstantiallythesameasrequiredoftheServicerunderthe
applicablePoolingAgreement.
DOCSSF1:813872.6
2.4
AnnualIndependentPublicAccountants'ServicingReport.TheAdministrative
Agentshallengageafirmofindependentpublicaccountants(whichmayalsorenderother
servicestotheAdministrativeAgentandisamemberoftheAmericanInstituteofCertified
PublicAccountants)toprepare,andshalldelivertotheServiceronorbeforeMarch15,2006,
andonorbeforeMarch15ofeachyearthereafter,areportcoveringtheAdministrativeAgent's
activitieshereunder,whichreportshallbeinformandsubstancewithrespecttotheServices
substantiallythesameasrequiredoftheServicerundertheapplicablePoolingAgreement.
ARTICLEIII
REPRESENTATIONSANDWARRANTIES
3.1Representations
and WarrantiesoftheServicer.TheServicerrepresentsand
warrantsthefollowingasofthedateofthisAgreement:
(a)
QualificationtodoBusiness.TheServicerisqualifiedtodo
businessinalljurisdictionsinwhichapropertysecuringaMortgageLoanislocatedand
wheresuchqualificationisrequired.
(b)
AuthorityandCapacity.TheServicerhasallrequisitecorporate
power,authorityandcapacitytoenterintothisAgreementandtoperformtheobligations
requiredofithereunder.ThisAgreement(assumingthedueauthorizationandexecution
ofthisAgreementbytheAdministrativeAgent)constitutesavalidandlegallybinding
agreementoftheServicerenforceableinaccordancewithitsterms,exceptassuch
enforceabilitymaybelimitedbybankruptcy,insolvency,moratorium,reorganizationand
similarlaws,andbyequitableprinciples.Noconsent,approval,authorizationororderof
orregistrationorfilingwith,ornoticeto,anygovernmentalauthorityorcourtisrequired
understateorfederallawpriortotheexecution,deliveryandperformanceofor
compliancebytheServicerwiththisAgreementortheconsummationbytheServicerof
anyothertransactioncontemplatedhereby.
(c)
NoConflict.NeithertheexecutionanddeliveryofthisAgreement
northeconsummationofthetransactionscontemplatedbythisAgreementnor
compliancewithitstermsandconditions,shallconflictwithorresultinthebreachof,or
constituteadefaultunderanyoftheterms,conditionsorprovisionsofanyPooling
AgreementoritscharterorbylawsoranysimilarcorporatedocumentsoftheServiceror
anymortgage,indenture,deedoftrust,loanorcreditagreementorotheragreementor
instrumenttowhichtheServicerisnowapartyorbywhichitisbound.
(d)
CompliancewithLaws.Thereisnoaction,suit,proceedingor
investigationpending,ortotheServicersknowledgethreatened,againsttheServicer
beforeanycourt,administrativeagencyorothertribunal(i)assertingtheinvalidityofthis
Agreement,(ii)seekingtopreventtheconsummationofanyofthetransactions
contemplatedherebyor(iii)whichmightmateriallyandadverselyaffecttheperformance
bytheServicerofitsobligationsunder,orthevalidityorenforceabilityof,this
Agreement.
DOCSSF1:813872.6
(e)
Performance.TheServicerdoesnotbelieve,nordoesithaveany
reasonorcausetobelieve,thatitcannotperformeachandeverycovenantcontainedin
thisAgreement.
3.2
RepresentationsandWarrantiesoftheAdministrativeAgent .TheAdministrative
AgentrepresentsandwarrantsthefollowingasofthedateofthisAgreement:
(a)
QualificationtodoBusiness
.TheAdministrativeAgentis
qualifiedtodobusinessinalljurisdictionsinwhichapropertysecuringaMortgageLoan
islocatedandwheresuchqualificationisrequired.
(b)
AuthorityandCapacity.TheAdministrativeAgenthasallrequisite
corporatepower,authorityandcapacitytoenterintothisAgreementandtoperformthe
obligationsrequiredofithereunder.ThisAgreement(assumingthedueauthorizationand
executionofthisAgreementbytheServicer)constitutesavalidandlegallybinding
agreementoftheAdministrativeAgentenforceableinaccordancewithitsterms,except
assuchenforceabilitymaybelimitedbybankruptcy,insolvency,moratorium,
reorganizationandsimilarlaws,andbyequitableprinciples.Noconsent,approval,
authorizationororderoforregistrationorfilingwith,ornoticeto,anygovernmental
authorityorcourtisrequiredunderstateorfederallawpriortotheexecution,delivery
andperformanceoforcompliancebytheAdministrativeAgentwiththisAgreementor
theconsummationbytheAdministrativeAgentofanyothertransactioncontemplated
hereby.
(c)
NoConflict.NeithertheexecutionanddeliveryofthisAgreement
northeconsummationofthetransactionscontemplatedbythisAgreementnor
compliancewithitstermsandconditions,shallconflictwithorresultinthebreachof,or
constituteadefaultunderanyoftheterms,conditionsorprovisionsofitscharterorby
lawsoranysimilarcorporatedocumentsoftheAdministrativeAgentoranymortgage,
indenture,deedoftrust,loanorcreditagreementorotheragreementorinstrumentto
whichtheAdministrativeAgentisnowapartyorbywhichitisbound.
(d)
CompliancewithLaws.Thereisnoaction,suit,proceedingor
investigationpending,ortotheAdministrativeAgentsknowledgethreatened,againstthe
AdministrativeAgentbeforeanycourt,administrativeagencyorothertribunal(i)
assertingtheinvalidityofthisAgreement,(ii)seekingtopreventtheconsummationof
anyofthetransactionscontemplatedherebyor(iii)whichmightmateriallyandadversely
affecttheperformancebytheAdministrativeAgentofitsobligationsunder,orthe
validityorenforceabilityof,thisAgreement.
(e)
Performance.TheAdministrativeAgentdoesnotbelieve,nordoes
ithaveanyreasonorcausetobelieve,thatitcannotperformeachandeverycovenant
containedinthisAgreement.
DOCSSF1:813872.6
ARTICLEIV
TERMANDTERMINATION
4.1
Term.ExceptasprovidedinSection4.2ofthisAgreement,thedutiesand
obligationsoftheAdministrativeAgentunderthisAgreementshallcommenceasofthedateof
executionanddeliveryhereofandshallcontinueinfullforceandeffectuntilthisAgreementis
terminatedbyagreementofthepartiesheretoorsuchearlierdatepursuanttoSection4.2.
4.2
Termination.TheServicermayterminateorreplacetheAdministrative
Agentatanytimeupon60dayspriorwrittennotice;provided,however,thattheServicershall
havetherighttoterminatethisAgreementimmediatelyupondeliveryofwrittennoticeifanyact
oromissionbytheAdministrativeAgentresultsintheoccurrenceof,orotherwiseconstitutes,an
"EventofDefault"underanyPoolingAgreement.TheAdministrativeAgentmayterminatethis
agreementupon120dayspriorwrittennoticetotheServicer.
ARTICLEV
MISCELLANEOUS
5.1Notices.Allnotices,requests,demands,directionsandothercommunications
(collectively"notices")undertheprovisionsofthisAgreementshallbeinwriting(including
telexedorfacsimilecommunication)andshallbesentbyfirstclassmail,firstclassexpressmail,
orbytelexorfacsimilewithconfirmationinwritingmailedfirstclassmail,inallcaseswith
chargesprepaid.Anysuchproperlygivennoticeshallbeeffectivewhenreceived.Allnotices
shallbesenttotheapplicablepartyatthefollowingofficeorinaccordancewiththelast
unrevokedwrittendirectionfromsuchpartytotheotherpartieshereto:(a)inthecaseofthe
Servicer,19850PlummerStreet,Chatsworth,California91311,FaxNo:(818)7752819,
Attention:VicePresidentInvestorReporting,withacopyto:WashingtonMutualLegal
Department,1201ThirdAvenue,WMT1706,Seattle,WA98101,FaxNo:(206)3776244,
Attention:WaMu;and(b)inthecaseoftheAdministrativeAgent,75NorthFairwayDrive,
VernonHills,Illinois60061,Attention:MasterServicingDepartment,withacopyto
WashingtonMutualLegalDepartment,1201ThirdAvenue,WMT1706,Seattle,Washington
98101,Attention:WMMSC.
5.2Successors
and Assigns.ThisAgreementshallbebindingonthepartieshereto
andtheirrespectivesuccessorsandassigns;provided,however,thattheAdministrativeAgent
maynotassignanyofitsrightsordelegateanyofitsdutieshereunderwithoutthepriorwritten
consentoftheServicer.
5.3 Severability.TheprovisionsofthisAgreementareintendedtobeseverable.If
anyprovisionofthisAgreementshallbeheldinvalidorunenforceableinwholeorinpartinany
jurisdiction,suchprovisionshall,astosuchjurisdiction,beineffectivetotheextentofsuch
invalidityorunenforceabilitywithoutinanymanneraffectingthevalidityorenforceabilityof
suchprovisioninanyotherjurisdictionortheremainingprovisionshereofinanyjurisdiction.
5.4
IncorporationofExhibits.AllExhibitsattachedheretoshallbeincorporated
hereinandshallbeunderstoodtobeaparthereofasthoughincludedinthebodyofthis
Agreement.
5.5
Headings,Descriptive,etc.Theheadingsoftheseveralsectionsandsubsections
ofthisAgreementareinsertedforconvenienceonlyandshallnotinanywayaffectthemeaning
DOCSSF1:813872.6
orconstructionofanyprovisionofthisAgreement.AllreferencestoSectionsaretoSectionsof
thisAgreementunlessotherwisespecified.Thewords"hereof,""herein,""hereto,"and
"hereunder"andwordsofsimilarimportwhenusedinthisAgreementshallrefertothis
AgreementasawholeandnottoanyparticularprovisionofthisAgreement.
5.6Counterparts.ThisAgreementmaybeexecutedinanynumberofcounterparts
andbythedifferentpartiesheretoonseparatecounterpartseachofwhich,whensoexecuted,
shallbedeemedanoriginal,butallsuchcounterpartsshallconstitutebutoneandthesame
instrument.
5.7Governing
Law.ThisAgreementshallbegovernedbyandconstruedin
accordancewiththelawsoftheStateofNewYork(includingSection51401oftheNewYork
GeneralObligationsLaw)andtheobligations,rightsandremediesofthepartieshereundershall
bedeterminedinaccordancewithsuchlawswithoutgivingeffecttoconflictoflawsprinciples
otherthanSection51401oftheNewYorkGeneralObligationsLaw.
[signaturesfollow]
DOCSSF1:813872.6
EXHIBITA
AdministrativeAgentRequirements
a.
TheAdministrativeAgentwillprovideasinglepointofcontacttotheinvestor
communitytoassistwithdistribution,cashflow,andsecurityrelatedquestions.
b.
TheAdministrativeAgentwillprovideapointofcontactfortheratingagenciesseeking
informationonanySecurities.Inaddition,theAdministrativeAgentwillmonitorthe
threemajorratingagencieswebsitestoidentifychangesintheratingsofanySecurities.
TheAdministrativeAgentwillnotifyServicerofanychanges.
c.
TheAdministrativeAgentwillfilemonthlydistributionreportsonForm8KorForm10
D,asapplicable,withtheSecuritiesandExchangeCommission(SEC)viatheSECs
EDGARsystemwithrespecttotheMortgageLoansandtheSecurities.
d.
TheAdministrativeAgentwillpostmonthlydistributionreports,loanleveldataand
prospectusesonitswebsite,www.wamumsc.com,withrespecttotheMortgageLoans
andtheSecurities.
e.
TheAdministrativeAgentwilldeliveramonthlydistributionreporttotheapplicable
TrusteeandprovideallothermonthlyreportingtotheapplicableTrusteeandother
partiesinaccordancewiththerequirementsoftheeachPoolingAgreement,basedonthe
reportsprovidedtotheAdministrativeAgentbytheServicer.
f.
TheAdministrativeAgentwilltransferfunds(orinstructtheServicertotransferfunds)
fromtheInvestmentAccounttotheapplicableCertificateAccountinordertocause
accurateandtimelymonthlyremittancestobemadetotheTrusteeinaccordancewiththe
requirementsoftheapplicablePoolingAgreement,fromfundsdepositedbytheServicer
or(inthecaseofpaymentsreceivedbytheAdministrativeAgentfrominterimservicers)
theAdministrativeAgentintotheInvestmentAccount.
g.
TheAdministrativeAgentwillcalculatethecompensatinginterestpayablebythe
ServicertotheapplicableTrusteemonthlyinaccordancewiththerequirementsofeach
PoolingAgreement.
h.
TheAdministrativeAgentwillprepareanddelivertotheapplicableTrusteeany
necessaryrevisionstoapreviouslydeliveredmonthlydistributionreport.
i.
IftheServiceristheTaxMattersPersonunderaPoolingAgreement,theAdministrative
AgentwillperformtheREMICtaxadministrationandrelateddutiesoftheTaxMatters
Person,asagentfortheTaxMattersPerson;provided,however,thattheAdministrative
Agentwillnotbeobligatedtopayanyrelatedtaxesorpenaltiesfromitsownfunds.
DOCSSF1:813872.6
j.
k.
l.
m.
n.
o.
p.
q.
r.
s.
t.
TheAdministrativeAgentwillprovidetheServicerwithcopiesofthemonthly
distributionreportsandloanlevelreportswithrespecttotheMortgageLoansandthe
Securitiesby12PMCentralTimetwobusinessdayspriortotheDistributionDate.
TheAdministrativeAgentwillreconciletheInvestmentAccountmonthlyinaccordance
withcorporatestandardsandreporteachreconciliationtotheServicer.
Onamonthlybasis,theAdministrativeAgentwillidentifyeachMortgageLoansubject
toaspecialservicingagreement,notifytheServicerandthespecialservicerofpending
loantransfersandfacilitateeachloantransfer.
TheAdministrativeAgentwillcoordinatecollateralreleaserequestsbetweentheServicer
andtheapplicableTrusteeorcustodian.
TheAdministrativeAgentwilltrackandageanysellersfollowupMortgageLoan
documentsandnotifyeachsellerofitsobligationtodelivertrailingdocumentstothe
applicableTrusteeorcustodian.
TheAdministrativeAgentwillmonitorandreporttotheServicerontheperformanceof
eachapplicablecustodian.
TheAdministrativeAgentwillsupplytheServicerwithaturnaroundreportidentifying
anydiscrepanciesbetweenthemonthlyremittanceforecastedbytheAdministrative
AgentsservicingsystemandtheServicersmonthlyreportingdatatwobusinessdays
afterthefileforthemonthlyremittanceisreceivedfromtheServicer.
TheAdministrativeAgentwillperformconsolidatedreportingandpaymentprocessing
withrespecttoallMortgageLoansservicedbyinterimservicers.TheAdministrative
AgentwillcollectfrominterimservicerspaymentswithrespecttoMortgageLoans
servicedbyinterimservicersanddepositsuchpaymentsintotheInvestmentAccount.
ForeachmonthduringwhichtheservicingofaMortgageLoanistransferredfroman
interimservicertotheServicer,theAdministrativeAgentwillbilltheServicerforthe
portionoftheAdministrativeAgentFeedescribedinparagraphbofExhibitBthatis
calculatedwithrespecttosuchMortgageLoan(intheeventcollectionsonthatMortgage
LoanforthatmonthareremittedbytheinterimservicerdirectlytotheServicer).
TheAdministrativeAgentwilladjustsystembalancesontheAdministrativeAgents
servicingsystemannuallyforloanlevelvariancesof$0.25orless.
TheAdministrativeAgentwillprovidetheServiceranyreasonabledata,analysisor
reportingrequestedtheServicerwithintwobusinessdaysofrequest.
DOCSSF1:813872.6
A-2
ServicerRequirements
a.
TheServicerwillberesponsibleforanyoverdraftchargesthatmaybeincurredinthe
InvestmentAccount.
b.
TheServicerwillprovidetheAdministrativeAgentanyreasonabledata,analysis,or
reportingrequestedbytheAdministrativeAgentwithintwobusinessdaysofrequest.
c.
AnyshortfallinamountsrequiredtobedepositedintotheapplicableCertificateAccount
onaDistributionDatewillbetheresponsibilityoftheServicer.Uponnotificationbythe
AdministrativeAgentofanysuchshortfall,theServicerwilldeposittheamountofsuch
shortfallintotheInvestmentAccountbycloseofbankingbusinessday,twobusiness
dayspriortotheDistributionDate.
d.
TheServicerwillprovidetheapplicableTrusteeorcustodiananauthorization
acknowledgementtoallowtheAdministrativeAgenttorequestdocumentsandreportson
behalfoftheServicer.
e.
TheServicerwillprovidetotheAdministrativeAgentcompleteandaccurateloanreports
(AdjustedS50Y)withrespecttotheMortgageLoansonorbefore3PMCentralTimeon
the5thbusinessdayofthemonthviaemailexcelfile.
f.
TheServicerwillrespondtotheAdministrativeAgentsturnaroundreport(delivered
pursuanttoparagraphpunderAdministrativeAgentRequirementsinthisExhibitA)
th
withinstructionsforanycorrectionstobemadenolaterthanthe12 calendardayof
th
eachmonth,orifthe12 calendardayisnotabusinessday,theprecedingbusinessday.
g.
TransfersoffundsintotheInvestmentAccountbytheServicermustagreetoreported
amounts(AdjustedS50Y),includingchangesmadeinresponsetotheturnaroundreport.
h.
TheServicerwilltransferallfundsondepositineachCustodialAccountforP&I(other
thanfundsrepresentingMortgageLoanprepaymentsinfull)totheInvestmentAccount
th
th
by12PMCentralTimeonthe18 calendardayofeachmonth,orifthe18 calendar
dayisnotabusinessday,theprecedingbusinessday.
i.
TheServicerwilltransfertheamountofeachMortgageLoanprepaymentinfullfrom
theapplicableCustodialAccountforP&ItotheInvestmentAccountbythecloseofthe
secondbankingbusinessdayfollowingtheServicersreceiptthereof.
j.
TheServicerwillprovidepayoffreportingtotheAdministrativeAgentwithintwo
businessdaysofaMortgageLoanprepaymentinfull,providedthatifaprepaymentin
fulloccursonthe14th,15th,16thor17thcalendardayofamonth,theServicerwill
providepayoffreportingby12PMCentralTimeonthefollowingbusinessday.
k.
TheServicerwillnotifytheAdministrativeAgentofallMortgageLoansinaforeclosure
th
orREOstatusbythe5 businessdayofeachmonth.
DOCSSF1:813872.6
A-3
l.
th
Onorbefore3PMCentralTimeonthe5 businessdayofeachmonth,theServicerwill
providetheAdministrativeAgentwithaLossCertificationforeachMortgageLoanthat
wasliquidatedduringtheimmediatelyprecedingmonth.
DOCSSF1:813872.6
A-4
EXHIBITB
AdministrativeAgentsFee
a.
b.
TheAdministrativeAgentwillbeentitledtobepaidasafeeforitsServiceshereunder
anyearningsarisingfromtheinvestmentofMortgageLoanfundsintheInvestment
AccountandtheCertificateAccount.
WithrespecttoeachMortgageLoanservicedbyaninterimservicer,theAdministrative
AgentwillbeentitledtobepaidasanadditionalfeeforitsServiceshereunder(a)the
excessof(i)theServicersservicingfeewithrespecttosuchMortgageLoanpursuantto
theapplicablePoolingAgreementover(ii)theinterimservicersfeewithrespecttosuch
MortgageLoanpursuanttotheapplicableagreementbetweentheServicerandsuch
interimservicerand(b)theamountofallprepaymentpenaltiespaidwithrespecttosuch
MortgageLoan(providedthatsuchprepaymentpenaltiesarenotrequiredtobepaid
toanyclassofcertificatesundertheapplicablePoolingAgreement).TheAdministrative
AgentwillbeentitledtoretainsuchadditionalfeefromcollectionsonMortgageLoans
remittedbytheinterimservicertotheAdministrativeAgent.Intheeventcollectionsare
remittedbytheinterimservicerdirectlytotheServicer,theAdministrativeAgentwillbe
entitledtobepaidsuchadditionalfeebytheServicer.
DOCSSF1:813872.6
EXHIBITC
LPI
Sale
Conveyance
Foreclosure/REO Expenses
Escrow Advances
Total Expenses
P & I Advances
Total Advances Less
Proceeds
Escrow Credit
Miscellaneous Credits
Net Remittance
Program Loss/(Gain)
Prepared by
Asset Recovery
Phone Number
Date
LS Section Manager
DOCSSF1:813872.6
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