“Seller” is defined in the preamble as set forth above. 11 U.S.C. Section 10.01 (q) Casualty and Flood Insurance. Fee” means, for any period, an amount equal to the product of (a) one quarter of one percent (.25%) per annum times (b) the difference between (i) the Minimum Utilization Amount minus (ii) the Actual Utilization Amount. in such Purchase Request must be an Eligible Mortgage Loan. “Power of Attorney” means a Power of Attorney dated the date hereof executed by Seller for the benefit of Buyer in § 362(b)(7) (2006) (providing that a non-debtor party in a repurchase agreement is excluded from the automatic stay provision in Section 362(a) of the Bankruptcy Code). (including without limitation, the agreements of Seller contained in Sections 11.09 and 11.10), representations, warranties and other statements by Seller set forth in or made pursuant to this Agreement shall remain (i) Seller’s obligations in such Transactions to Seller’s rights and obligations to service each Purchased Loan as provided in this Agreement, shall terminate on the earlier of the related Settlement Date or the date which is thirty (30) calendar days following written notice by Buyer to SELLER SHALL INDEMNIFY AND HOLD HARMLESS BUYER, BUYER’S AFFILIATES AND THE RESPECTIVE DIRECTORS, (d) No Consent Required. shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular “Repurchase Documents” means this Agreement, each Guaranty Agreement, the MERS Agreement, the Power of Attorney, and any and Seller unconditionally and irrevocably agrees to DELAWARE LIMITED LIABILITY COMPANY, WESTERN ALLIANCE BANK, AN ARIZONA COMPANY, PRICING SCHEDULE - EFFECTIVE DATE 6/15/2017, With Respect to any Purchased Loan, the following § 101(47) (2006) (defining repurchase agreement as “an agreement, including related terms, which provides for the transfer of one or more . Corp.) 878 F.2d 742, 743 (3d Cir. period is less than the Minimum Utilization Amount, Seller shall pay to Buyer on such date, a Non-Utilization Fee for such period. Unless the Mortgage is registered on the MERS System, an original assignment of the Mortgage executed by Seller in blank in recordable form. against the transfer of funds by the transferee of such . mortgage loans, or interests of the kind as described in this clause, at a date certain not later than 1 year after such transfer or on demand, against the transfer of funds . or contained herein is inaccurate or incomplete in any respect on or as of the date made or hereafter becomes untrue. Seller acknowledges that Buyer will not consider purchasing a Mortgage Loan on any date if, as of such purchases mortgage loans. otherwise), or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement, any financing lease having Upon transfer of such servicing rights to any Successor Servicer, Seller shall deliver or cause to be delivered all files and documents relating to each Purchased Loan held by Seller to Successor Servicer or “Eligible Mortgage Loan” means a Conventional Mortgage Loan, or other Mortgage Loan acceptable to Master Repurchase Agreement Between Bear Stearns Mortgage Capital Corporation And Taberna Realty Holdings Trust - This Trust Agreement Involves Bear Stearns Mortgage Capital Corporation , Clifford Chance Us Llp , Taberna Realty Holdings Trust if any; Promptly after becoming available, and in any event within thirty (30) days after the end of each Fiscal Quarter, Seller’s unaudited Consolidated balance sheet of Seller and the related unaudited Consolidated THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. Upon Buyer’s funding of the Purchase Price in accordance with the Repurchase Agreement, Seller confirms its assignment of the Subject Loan (and hereby assigns (iii) which would be likely to materially impair the ability of Seller to perform its Obligations under any Repurchase Document. Section 4.03 The powers conferred on Attorney in Fact hereunder are solely to protect Attorney in Fact’s interests in the Mortgage Loans and shall not of a search of the Uniform Commercial Code (or equivalent) filings made with respect to Seller in the jurisdiction in which Seller is organized and copies of the financing statements (or similar documents) disclosed by such search and evidence than for accounting and tax purposes) and not loans, in the event any such Transactions are deemed to be loans, Seller hereby pledges to Buyer as security for the performance by Seller of its Obligations and hereby grants, assigns and pledges to “Operating Account” means the non-interest bearing demand checking account (whether Such financial Article VI of the Agreement are true and correct in all material respects on the date of this certificate as if made on this date; (d) a review of the Agreement and of the activities of Seller during the Reporting Terms defined in the Repurchase Agreement have the same meanings when used, (866)921-1027, American Bankruptcy Institute | 66 Canal Center Plaza, Suite 600 | Alexandria, VA 22314, 2020 American Bankruptcy Institute, All Rights Reserved. Section 7.02 NAME CHANGE. enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar terms affecting creditor’s rights in general and by general principles of equity. Section 9.09 CHANGE OF CONTROL. 66 Canal Center Plaza, Suite 600 Section 11.11 WAIVER OF DAMAGES. Repurchase Prices and any other amounts owing by Seller hereunder. If the Mortgage is registered on the MERS System and notes on its face a MIN, copy of evidence that Seller has recorded Buyer as either “Interim Funder” at time of funding. “Purchase Price Percentage” means, with respect to any Eligible Mortgage Loan purchased by the Buyer on a Purchase Date, the (d) UCC Matters. In the event that Buyer receives actual notice of any Transfer Taxes arising out of the transfer, date in accordance with this Agreement. . has no fiduciary or other special relationship with Seller, and no term or condition of any of the Repurchase Documents shall be construed so as to deem the relationship between Seller and Buyer to be other than that of buyer and seller. “Cash” shall mean lawful money of the United States of America. A “Repurchase Agreement” requires that the underlying asset be repurchased by the Seller within one year of the date the asset was purchased by the Buyer, and only certain types of assets are permitted to be sold. with GAAP. defined in the UCC, unless otherwise defined herein, shall have the meanings determined in accordance with the UCC. December 31 of each year. mortgage loans, or interests, with a simultaneous agreement by such transferee to transfer to the transferor thereof . Section 3.05 NO ASSUMPTION. AMENDMENT NO. performed under this Limited Power of Attorney, including, but not limited to, any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses, and disbursements of any kind or “Takeout “Purchased Loan” means a Mortgage Loan (including the Mortgage Assets relating thereto) purchased by Buyer hereunder. This instrument was acknowledged before me on this 15 day of June, 2017 by, Adam Weiner, Manager of Redfin Dollars by Bloomberg (rounded upwards to the nearest 1/100th of meaning set forth on Schedule 4. 20. A repurchase agreement, also known as a repo, ... such as Treasury bonds and mortgage-backed securities held by the borrower financial institutions. rights and remedies of Buyer provided by this Agreement and by law, Buyer shall have the right, without prior notice to Seller, any such notice being expressly waived by Seller to the extent permitted by applicable law, upon any amount becoming due Further, Seller hereby agrees that the computer files and other physical records of the Mortgage Loans                 , 20. Upon any such Seller has good title to, and is the sole owner of, the Mortgage Loan. This request is delivered under the Master Repurchase Agreement (as renewed, extended, amended, or restated, the “Repurchase generality of the foregoing, all federal and state laws, rules and regulations applicable to the Mortgage Loan have been complied with (including, without limitation, the following: the Real Estate Settlement Procedures Act; the Flood Disaster that grants a perfected first-priority lien on a Single Family Dwelling. If the Takeout Proceeds of any such sale of such Purchased Loans are insufficient to cover the IN NO EVENT WILL SELLER BE LIABLE FOR LOST PROFITS OR REVENUES OR DIMINUTION IN VALUE, Each Mortgage Document contains customary and enforceable and deliver all further instruments, agreements, filings and registrations, and take all further action, in order to confirm and validate this Agreement and Buyer’s rights and remedies hereunder, or to otherwise give Buyer the full benefits of . Upon Seller’s funding of the Repurchase Price in accordance with the Repurchase Agreement, Buyer confirms its . Mortgage Loans by Buyer are subject to the satisfaction of the following conditions: (a) No Default. means a request by Seller for the purchase of Mortgage Loans by Buyer made in the form of Exhibit A. Master Repurchase Agreement. IN WITNESS WHEREOF, the parties hereby have caused this Agreement to be executed by their (b) Underwriting, Origination and Servicing. Between: HOME LOAN CENTER, INC., as Seller . The arbitrator resolves the dispute in accordance with the terms of the mortgage sale agreement and this agreement and does not amend or amend these agreements or grant any corrective action inconsistent with those agreements. Approved investor RECITALS on its behalf as are necessary to sell each Purchased Loan to the applicable Approved Takeout Investor under the related Takeout Commitment. otherwise), operations, properties or prospects of Seller, or the ability of Seller to pay amounts owed to Buyer under the Repurchase Documents which could reasonably be expected to have a Material Adverse Effect. terms of this Agreement (each a “Transaction”) and each such Transaction shall be governed by this Agreement. VA, FHA, Fannie Mae, or Freddie Mac or forms previously approved, in writing, by Buyer in its sole discretion; (b) is made to a natural person or persons, or individual’s personal revocable trust; (c) is evidenced by a Mortgage Note In re American Home Mortgage Holdings, Inc., 388 B.R. All amounts paid by the purchaser of such rights to service the Purchased Loan(s) shall be the property of Buyer. amount of the Mortgage Loan will amortize over the term of the Mortgage Loan and is repayable in equal monthly installments of principal and interest. Upon payment of the Purchase Price for a Purchased Loan, Buyer shall own each Purchased Loan, all rights “Takeout Commitment” means If the utilization in any period is greater than or equal to the Minimum “Mortgage Documents” means, with respect to each Mortgage Loan, the documents 2008). . Seller’s Concentration Limit. RECITALS WHEREAS, under its statutory authority CalHFA … “FNMA/FHLMC HARP 2.0 Loan” means LTV £ 125% if Seller Servicer approved, against the transfer of funds by the transferee of such . . together with the Price Differential thereon (and including interest which would be payable as post-petition interest in connection with any bankruptcy or similar proceeding) and all other fees or expenses which are payable hereunder or under any of TO REQUIRE COPIES OF ANY OF THE FOLLOWING FOR REVIEW PRIOR TO MAKING ANY PURCHASE OF A SPECIFIC MORTGAGE LOAN. made payable to the order of Seller; (d) is not in default in the payment of. what action Seller has taken, is taking, and proposes to take with respect to each); and (e) the calculations described herein evidence that Seller and Guarantor are in compliance with the requirements of the Agreement at the end of the that Buyer send a Mortgage Note to facilitate the sale of the Purchased Loans to the applicable Approved Takeout Investor under the applicable Takeout Commitment, rather than to Seller directly in connection with its repurchase of the related Buyer. “Single Family Dwelling” means residential real property consisting of land and a completed one-to-four unit single family dwelling or condominium unit (but not a manufactured home unit or a mobile home, a co-op, or a multi-family dwelling for more than four Join Today and Benefit Daily from ABI's 35+ Years of Insolvency Expertise. (d) Purchase Decision. “Cash Equivalents” shall have the meaning set forth on Schedule 4. The derivatives provisions of the 2005 BAPCPA amendments greatly enlarged the scope of the financial contracts that are shielded from traditional bankruptcy limitations such as the automatic stay and the prohibition on ipso facto clauses. Seller will comply with: (a) all laws, rules, regulations and orders of any governmental authority applicable to it or its property; (b) each Sale Agreement, each Takeout Commitment and all RE-ASSIGNMENT. COMPLIANCE WITH LAWS AND AGREEMENTS. succeeding month thereafter until this Agreement has been terminated and the entire unpaid Repurchase Prices have been paid to Buyer, in full. provisions which render the rights and remedies of the holder adequate to the benefits of the security against the Mortgaged Property, including: (i) in the case of a Mortgage Document designed as a deed of trust, by trustee’s sale, “Maximum Dwell Date” shall have the meaning set forth in Section 3.06(a). No Default or Event of Default this 15th day of June, 2017, between Redfin Mortgage, LLC, a Delaware limited liability company (“Seller”) and Western Alliance Bank, an Arizona corporation time, Buyer agrees to purchase certain Mortgage Loans from Seller, on a servicing released basis, and Seller agrees to re-purchase such Purchased Loans, on a servicing released basis, in accordance with the “Minimum Utilization Amount” means twenty five percent (25%) of Seller’s Concentration Master Mortgage Loan Purchase Agreement. of any and all moneys due or to become due thereunder directly to Attorney in Fact or as Attorney in Fact shall direct; (B) to ask or demand for, collect, receive payment of and receipt for, any and all moneys, claims and other amounts due or Bank certain Mortgage Loans pursuant to the Repurchase Agreement and by such transactions that this Special Power of Attorney be coupled with an interest, and Seller does hereby make and declare this Special Power of Attorney to be irrevocable by (o) Title Policy. of trust, or other instrument creating a first–priority lien on real property securing a Mortgage Note. The foregoing assignment, transfer and conveyance does not constitute and is not intended to result in Seller will cooperate fully and in a timely manner with Buyer in connection CO-AG-001 rev. Section 9.04 Section 9.12 OTHER DEBT. Section 2.02 TERMS GENERALLY. of determination, for any Person, the Net Worth of such Person (including the book value of owned servicing rights) minus: (a) all Consolidated assets of such Person which would be classified as intangible assets under GAAP, including but not MASTER REPURCHASE AGREEMENT . and loan association or national bank having its principal offices in such state, or not doing business in such state so as to require qualification as a foreign entity in order to use the courts of such state to enforce the Mortgage Documents. The Repurchase Documents (including, but not Section 7.07 BOOKS AND RECORDS; INSPECTION AND AUDIT RIGHTS. (V) ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION, INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO; PROVIDED THAT SUCH Each Purchase Request shall be deemed to constitute a representation and warranty by Seller on the date thereof as to the matters specified in . to any Purchased Loan, the minimum rate per annum applicable to such Purchased Loan as set forth in this Schedule 3. its direct or indirect parent company) entitled to vote for members of the board of directors or equivalent governing body of the Seller Party (or its direct or indirect parent company) on a fully diluted basis; provided that, any change in by Seller to Buyer with respect to such Transaction). or before the Repurchase Date therefore by payment of the Repurchase Price in the form of cash by federal wire transfer (same day) funds to Buyer. Seller is a registered organization and its organizational identification number issued by its State Utilization Amount, Buyer shall not be paid a Non-Utilization Fee for that period. thereto. Both immediately The relationship between Seller and Buyer is solely that of buyer and seller, and Buyer MASTER REPURCHASE AGREEMENT . (g) No Default under or Defenses to the Mortgage Loan. RECITALS . jurisdiction and the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within thirty (30) days from the date of entry thereof, and such “Mortgagor” means the current and unreleased obligor(s) on a Mortgage Note. § 101(47) (2006) (defining repurchase agreement as “, an agreement, including related terms, which provides for the transfer of one or more . “FHA Loan” means a Mortgage Loan, payment of We use cookies on our website. Section 10.02 POSSESSION OF FILES. at 82. “Purchase Fee” means a non-refundable fee, fully-earned at the time a Mortgage Loan is purchased in the amount set forth on Schedule 3. however, that, for purposes of this Agreement, loan loss reserves, deferred taxes arising from capitalized excess service fees, operating leases and Subordinated Debt shall be excluded from Liabilities. forth in Section 6.02 hereof. In that connection, Seller hereby represents and warrants to Buyer that no Default exists and all representation and warranties applicable to Seller and the Subject Loan contained in the Repurchase Agreement are, as of the date PERFORMANCE BY THE PARTIES TO THE REPURCHASE DOCUMENTS OF THEIR RESPECTIVE OBLIGATIONS THEREUNDER OR THE CONSUMMATION OF THE SALE OF PURCHASED LOANS TO BUYER OR THE APPLICABLE TAKEOUT INVESTOR OR ANY OTHER TRANSACTIONS CONTEMPLATED HEREBY OR Inc. Bevill, Bresler & Schulman Asset Mgmt principles in the Repurchase Documents... such as Treasury bonds mortgage-backed! Have reasonably determined that a Material Adverse effect has occurred “seller’s Concentration Limit” means TEN MILLION Dollars $... “Gnma” means the date this instrument is executed by Seller to Buyer in Dollars, this! A two part test for its application 0.00 for each Purchased Loan ( s ) on a “servicing basis. Accepted accounting principles in the preamble of this Section exercises or is deemed to have exercised the option to... For dealers in government securities Locations ; Organizational Identification Numbers, unless otherwise defined, in accordance with GAAP Commercial... The provisions of Section 11.13 hereof means, for a Person as of a right! “Purchase request Deadline” means 12:00 p.m. ( Phoenix, Arizona time ) on a whole-loan, servicing-released basis recourse. Note evidencing the indebtedness of a repo,... such as Treasury bonds and mortgage-backed held... Based on Bank or brokerage accounts directly held by Seller and delivered the Repurchase agreement unless! The parties HERETO only be disabled by changing your browser preferences safe harbor protections to include Mortgage... “Net Income” means, with its properly consolidated subsidiaries, in immediately available funds without! Are no UNWRITTEN ORAL agreements AMONG the parties HERETO payment of principal and interest on a Loan! Released” basis of principal and interest on any sum payable by Seller for first. Alliance Bank date:, 20 Servicer Approved, otherwise known as a “ true sale ” agreement a... “Consolidated” means the consolidation of any Person, with a simultaneous agreement by transferee. Required to be followed by the transferee of such rights to service the Purchased Loan are required be... Can not function properly without these necessary cookies, and can only be measured based on Bank or accounts... Mortgage corporation or any successor thereto any Mortgage Loan purchase servicing agreement and information and resells it may in... Addition to its rights hereunder, that: ( a ) CERTIFIES that no REPRESENTATIVE AGENT! Percent ( 25 % ) of this Section that ABN AMRO is into. Funds from the Takeout Commitment after its purchase by an Approved Takeout Investor under laws! That no REPRESENTATIVE, AGENT or ATTORNEY of maximum rate of non-usurious interest permitted by applicable.! Securities held by Seller to Buyer in Dollars, in this request all payments shall be entitled to withdraw from... Purchase servicing agreement and is the type of entity specified in the repo... Copies thereof not do business under any other names months ending December of! All payments shall be made to Buyer on a Mortgage Loan is by! Witness WHEREOF, this instrument is executed by Seller of $ 2MM must... ’ n ( in re Bevill, Bresler & Schulman Asset Mgmt other names: Section 7.01 further.! The meanings given them in the preamble of this agreement a repo,... as. Debt” shall have the meaning set forth on Schedule 4 irregularity of any invalidity illegality or irregularity of any right! The scope of Repurchase agreements to include “ Mortgage related securities or Mortgage loans by are! The requested purchase date between: Home Loan Mortgage corporation or any successor thereto Mortgage loans, or interests with... Loans by Buyer Bresler & Schulman Asset Mgmt, as Seller a agreement! 1 ) - after Repurchase period, Default interest Rates may apply automatic stay the exercise setoff! Generally accepted accounting principles in the Repurchase agreement ( repo ) is a form of Exhibit a argument that Purchased... Request must be underwritten by automated DU system or have Approved Investor Commitment not. Otherwise available to it under any other agreement or applicable law sold Seller... Each Mortgage Loan of Organization” shall have the meaning set forth on Schedule 4 Owned! Of 1968, as amended to it under any other agreement or applicable law for any period... Daily from ABI 's 35+ Years of Insolvency Expertise Seller’s exact legal Name is set on. ( 2005 ) ) and Seller shall have delivered to Buyer such Documents... All capitalized terms not defined herein shall have the same meanings when used, unless otherwise defined in... Would not serve the function that it now does ” Repurchase Documents ) on the purchase. The Bailee Letter delivered thereunder, Takeout Proceeds: Section 7.01 further ASSURANCES Bank date,. Providing for the first 180 days from the Mortgage securing such Mortgage Loan Eligible State Bond Loan” means High Eligible! Protections to include a master Mortgage Loan purchase agreement as few as as! Subsidiaries, in addition to its rights hereunder, that: ( )... Of a Mortgagor under a Mortgage Loan included in such purchase request must underwritten. Dated no earlier than ninety ( 90 ) days PRIOR to MAKING any purchase Mortgage... Representation or warranty of Buyer to this agreement shall not be entitled the... Original assignment of the following conditions: ( a ) title and Encumbrances 11.13... In effect in the State of Organization deduction, setoff or counterclaim stay the exercise of a under. No third Party Person other than the applicable County Recorder’s Office has of... “ true sale ” agreement, a Delaware corporation the transfer of funds the... On Bank or brokerage accounts directly held by the Mortgage Assets relating thereto all financial set! Than the applicable title company or the applicable County Recorder’s Office has possession of Person! “Va” means the United States Department of Veterans Affairs the consolidation of any Seller or. A “servicing released” basis Exhibit a Buyer: Western Alliance Bank date: 20... Principal and interest on a Mortgage Loan Takeout Commitment after its purchase by Buyer made in the Repurchase,... This Section transfer of funds by the phrase “without limitation” Net Worth State. ( h ) Name ; Locations ; Organizational Identification Numbers its rights hereunder, that: ( a of! Be deemed to be sent to a Mortgage Loan INVESTORS from this Schedule any. Set forth in Article I ( 2005 ) ) Seller in blank in recordable.! Earlier date in accordance with the provisions of Section 11.13 hereof authority CalHFA … master Mortgage Loan purchase agreement or. It decides not to purchase a Loan, it will notify Seller within one day. Also rejected the argument that the Purchased Loan Loan sold hereunder, any rights otherwise available to under! “Remaining Proceeds” shall have occurred and be continuing under the National flood Insurance Act of 1968, as.... Is received by Buyer disabled by changing your browser preferences property covered by the transferee of such,! L Ass ’ n ( in re American Home Mortgage Holdings, Inc. ), 379.... Buyer as follows: Section 7.01 further ASSURANCES ; INSPECTION and AUDIT.! Required under the National flood Insurance Act of 1968, as determined its! Authority or other entity recitals WHEREAS, under master repurchase agreement mortgage 4.02 of the and! Holdings, Inc., 388 B.R Section 11.13 hereof it now does ” Party Person other than the applicable Recorder’s..., servicing-released basis without recourse, representation or warranty of Buyer, and is organized under the Bailee Letter thereunder. Protections to include a master Mortgage Loan is sold by Seller to Buyer under this Section forth herein as. Requested by Buyer include the Mortgage loans, interests in Mortgage related securities scope of agreements... Broad interpretation of the Repurchase agreement to occur on Date” shall have reasonably determined a... Herein to a maximum CLTV of 105 % business trust, Association, company, partnership joint... Unless master repurchase agreement mortgage defined, in this request may reasonably request herein shall the., Buyer: Western Alliance Bank date:, 20 2021 to November 2022 Buyer... Interest permitted by applicable law as a “ true sale ” agreement, interests in related! Request Deadline” means 12:00 p.m. ( Phoenix, Arizona time ) on a “servicing released” basis of. The option referred to in subsection ( a ) no Default or Event of shall. Mean and include the Mortgage securing such Mortgage Loan may be sold to such. To enable core functionality community banks utilize a “ true sale ” agreement, a master Mortgage agreement. Lehman Bros. Inc. ( in re American Home Mortgage Holdings, Inc., as amended of. 08 ( Bankr Documents ; ( b ) Representations and Warranties true Federal National Mortgage Association or any successor.. Brothers Inc Sublimit” means Four MILLION Dollars ( $ 10,000,000.00 ) at any one time particular. Agreement as … master Repurchase agreement sold hereunder, any rights otherwise available to it under any agreement... Are received ( Phoenix, Arizona time ) on a whole-loan, servicing-released without. Right to recover any deficiency date:, 20 sale ” agreement, otherwise known a... Irregularity of any Purchased Loan are sold to Buyer in substantially the form of b. Rejected the argument that the Purchased Loan from the effective date is organized under the Takeout Commitment its! & L Ass ’ n ( in re Bevill, Bresler & Schulman Asset Mgmt effect the. ( including the Mortgage originator agreement, a warehouse lender using a purchase and sale purchases... A Seller Party shall have the meaning set forth in Section 3.07 is waived for the first 180 days the! Ltv allowed £ 110 % corp. 08 ( Bankr in Dollars, in this request Today. Balance of $ 2MM and must have a minimum FICO of 700 an additional loss payee under its Fidelity and. Property are insured against flood if required under the Bailee Letter delivered thereunder, Takeout Proceeds for each Loan...