Preview | Mortgage Loan Purchase Agreement |

Document Preview

Mortgage Loan Purchase Agreement

Click "Add to Cart" button to purchase document.
Documents are emailed immediately after purchase.
You can also browse documents by title, category, or company... or click here for help finding documents.

Title:

Mortgage Loan Purchase Agreement

Entities:

Suntrust Mortgage Securitization, LLC

Date:

2007

Size:

43KB total

Price:

$42

ID:

#3270572

► Purchase & Sale ► Purchase ► Loan ► Mortgage Loan Purchase Agreements

Start of Preview

SUNTRUST MORTGAGE SECURITIZATION, LLC,

as Purchaser,

and

SUNTRUST MORTGAGE, INC.,

as Seller,

MORTGAGE LOAN PURCHASE AGREEMENT

Dated as of [ ], 200[ ]

[Fixed Rate][Adjustable Rate] Mortgage Loans

TABLE OF CONTENTS

PAGE

ARTICLE I DEFINITIONS
SECTION 1.1.	Definitions	1
ARTICLE II SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE
SECTION 2.1.	Sale of Mortgage Loans	1
SECTION 2.2.	Obligations of Seller Upon Sale	2
SECTION 2.3.	Payment of Purchase Price for the Mortgage Loans	2
ARTICLE III REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH
SECTION 3.1.	Seller Representations and Warranties	2
SECTION 3.2.	Seller Representations and Warranties Relating to the Mortgage Loans	4
SECTION 3.3.	Remedies for Breach	4
ARTICLE IV SELLER?S COVENANTS
SECTION 4.1.	Covenants of the Seller	5
ARTICLE V SERVICING
SECTION 5.1.	Servicing	5
ARTICLE VI INDEMNIFICATION BY THE SELLER WITH RESPECT TO THE MORTGAGE LOANS
SECTION 6.1.	Indemnification	5
ARTICLE VII TERMINATION
SECTION 7.1.	Termination	6
ARTICLE VIII MISCELLANEOUS PROVISIONS
SECTION 8.1.	Amendment	6
SECTION 8.2.	Governing Law	6

SECTION 8.3.	Notices	6
SECTION 8.4.	Severability of Provisions	7
SECTION 8.5.	Counterparts	7
SECTION 8.6.	Further Agreements	7
SECTION 8.7.	Intention of the Parties	8
SECTION 8.8.	Successors and Assigns: Assignment of Purchase Agreement	8
SECTION 8.9.	Survival	8
SECTION 8.10.	Third Party Beneficiaries	9

MORTGAGE LOAN PURCHASE AGREEMENT (the ?Agreement?), dated as of [ ], 200[ ], between SUNTRUST MORTGAGE, INC. (the ?Seller?) and SUNTRUST MORTGAGE SECURITIZATION, LLC (the ?Purchaser? or the ?Depositor?).

W I T N E S S E T H

WHEREAS, the Seller is the owner of the notes or other evidence of indebtedness (the ?Mortgage Notes?) so indicated on Schedule I hereto referred to below, and Related Documents (as defined below) (collectively, the ?Mortgage Loans?);

WHEREAS, the Seller as of the date hereof owns the mortgages (the ?Mortgages?) on the properties (the ?Mortgaged Properties?) securing such Mortgage Loans, including rights to (a) any property acquired by foreclosure or deed in lieu of foreclosure or otherwise and (b) the proceeds of any insurance policies covering the Mortgage Loans, the Mortgaged Properties or the Mortgagors;

WHEREAS, the parties hereto desire that the Seller sell the Mortgage Loans to the Purchaser pursuant to the terms of this Agreement;

WHEREAS, the Purchaser will assign to SunTrust [ ], Series 200[ ]-[ ] (the ?Trust? or the ?Issuing Entity?) all of its rights against the Seller pursuant to this Agreement as described herein pursuant to the terms of a Pooling and Servicing Agreement dated as of [ ] 1, 200[ ] (the ?Pooling and Servicing Agreement?) among the Purchaser, the Seller, [ ], as master servicer and securities administrator, [ ], as trustee, and SunTrust Mortgage, Inc., as servicer.

NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS

SECTION 1.1. Definitions. All capitalized terms used but not defined herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

ARTICLE II

SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE

SECTION 2.1. Sale of Mortgage Loans. The Seller, concurrently with the execution and delivery of this Agreement, does hereby sell, assign, set over, and otherwise convey to the Purchaser, without recourse, all of its right, title and interest in (other than any servicing rights relating to the Mortgage Loans), to and under the following, whether now existing or hereafter acquired and wherever located: (i) the Mortgage Loans, including the related Cut-off Date Balance, all payments in respect of the Mortgage Loans received after the Cut-off Date (exclusive of payments in respect of principal and interest on the delinquent Mortgage Loans due prior to the Cut-off Date and received thereafter); (ii) property which secured a Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) the interest of the Seller in any insurance policies in respect of the Mortgage Loans; (iv) all rights under any

guaranty and/or additional security agreement executed in connection with a Mortgage Loan; and (v) all proceeds of the foregoing.

SECTION 2.2. Obligations of Seller Upon Sale. In connection with any transfer pursuant to Section 2.1 hereof, the Seller further agrees, at its own expense, on or prior to the Closing Date, (a) to indicate in its books and records, other than for accounting and federal income tax purposes, that the Mortgage Loans have been sold to the Trustee, as assignee of the Purchaser pursuant to this Agreement and (b) to deliver to the Purchaser a computer file containing a true and complete list of all such Mortgage Loans specifying for each such Mortgage Loan, as of the related Cut-off Date, (i) its account number and (ii) the Cut-off Date Balance. The file prepared by or on behalf of the Seller shall also be marked as Schedule I to this Agreement and is hereby incorporated into and made a part of this Agreement.

In connection with any conveyance by the Seller, the Seller shall on behalf of the Purchaser, the Depositor and the Issuing Entity deliver to, and deposit with the Custodian, as custodian on behalf of the Trustee, as assignee of the Purchaser, on or before the Closing Date (except as noted below) the documents or instruments with respect to each Mortgage Loan (collectively, the ?Mortgage File? or, other than the Mortgage Note, the ?Related Documents?) listed in [Section 2.01(b)] of the Pooling and Servicing Agreement.

End of Preview

Home Intelligence Services Subscriptions News About Us