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Document Preview Whole Loan Purchase Agreement |
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Title: |
Whole Loan Purchase Agreement |
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Entities: |
ABN Amro Mort SEC Multi Class Mort Psthr Certs SER 2003-13; JPMorgan Chase Bank; U.S. Bank, NA; Washington Mutual Bank, FA; Federal National Mortgage Association |
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Date: |
2004 |
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Size: |
Preview shows 4KB of 122KB total |
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Price: |
$63 |
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ID: |
#1492520 |
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<SEQUENCE>6
<FILENAME>d195861.txt
<DESCRIPTION>WHOLE LOAN PURCHASE AGREEMENT
<TEXT>
WHOLE LOAN PURCHASE AGREEMENT
Whole Loan Purchase Agreement (the "Agreement"), dated as of December 23,
2003 between ABN AMRO Mortgage Group, Inc. (the "Seller") and Washington Mutual
Mortgage Securities Corp. (the "Purchaser").
Subject to the terms and conditions of this Agreement, the Seller agrees
to sell and the Purchaser agrees to purchase certain mortgage loans (the
"Mortgage Loans") as described herein and as identified on the Mortgage Loan
Schedule defined in Section 2 hereof. The Mortgage Loans will be purchased on a
servicing released basis.
Now, therefore, in consideration of the premises and the mutual agreements
set forth herein, the parties agree as follows:
SECTION 1. Purchase and Sale of the Mortgage Loans.
(a) Pursuant to the terms hereof and upon satisfaction of the conditions
set forth herein, the Seller agrees to sell and the Purchaser agrees to
purchase, Mortgage Loans having the characteristics set forth in this Agreement
and specifically identified on the Mortgage Loan Schedule, for the Purchase
Price set forth below in Section 3(a) hereof and having an aggregate principal
balance on and as of December l, 2003 (the "Cut-Off Date") of approximately
$354,678,057 after deduction of principal payments due on or before the Cut-Off
Date (which amount may vary plus or minus 5% thereof), or such other aggregate
principal balance as agreed by the Purchaser and the Seller as evidenced by the
actual aggregate principal balance of the Mortgage Loans accepted by the
Purchaser on the Closing Date (as defined below).
(b) Subject to mutual agreement between the Purchaser and the Seller, the
closing for the purchase and sale of the Mortgage Loans shall take place on
December 23, 2003 (the "Closing Date") at the office of Purchaser's counsel in
New York, New York or such other place as the parties shall agree.
SECTION 2. Mortgage Loan Schedule.
Attached to this Agreement as Schedule 1 is a listing of the Mortgage
Loans evidenced by promissory notes, mortgage notes or other evidence of
indebtedness (the "Mortgage Notes") evidencing the indebtedness of one or more
obligors (the "Mortgagor") and the related mortgages, deeds of trust or other
instruments securing a Mortgage Loan (the "Mortgage") to be purchased by and
delivered to the Purchaser on the Closing Date (as such may be amended prior to
the Closing Date by mutual agreement of the parties) (the "Mortgage Loan
Schedule"). The "Mortgage Loan Schedule" as of the Closing Date shall refer to
the Mortgage Loan Schedule as delivered on the Cut-Off Date related to such
Mortgage Loans to be purchased by or on behalf of the Purchaser pursuant to the
terms of this Agreement. The Mortgage Loan Schedule shall contain as to each
Mortgage Loan listed thereon, at a minimum, the Mortgage Loan information
indicated on Schedule 2 hereto.
<PAGE>
SECTION 3. Purchase Price.
(a) In exchange for the Mortgage Loans, on the Closing Date, the Purchaser
shall transfer to the Seller by wire transfer in immediately available funds the
purchase price (the "Purchase Price") which is equal to * % multiplied by the
principal balance thereof as of the Cut-Off Date plus any accrued and unpaid
interest thereon from the Cut-Off Date to the Closing Date.
(b) The Purchaser shall be entitled to all scheduled payments of principal
and interest due with respect to the Mortgage Loans after the Cut-Off Date, and
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