Document ID: 16687

Text:
(iii) the Seller has commenced and is diligently proceeding with the cure of such Material Defect within such Initial Cure Period, then the Seller shall have an additional 90 days (such additional 90 day period, the Extended Cure Period) to complete such cure, or, in the event of a failure to so cure, to complete such repurchase of the related Mortgage Loan or substitute a Qualified Substitute Mortgage Loan as described above (it being understood and agreed that, in connection with the Sellers receiving such Extended Cure Period, the Seller shall deliver an Officers Certificate to the Trustee, the Special Servicer, the Operating Advisor and the Certificate Administrator setting forth the reasons such Material Defect was not cured within the Initial Cure Period and what actions the Seller is pursuing in connection with the cure of such Material Defect and stating that the Seller anticipates that such Material Defect will be cured within such Extended Cure Period); and provided, further, that, if any such Material Defect is still not cured after the Initial Cure Period and any such Extended Cure Period solely due to the failure of the Seller to have received the recorded document, then the Seller shall be entitled to continue to defer its cure, repurchase or substitution obligations in respect of such Document Defect so long as the Seller certifies to the Trustee, the Special Servicer, the Operating Advisor and the Certificate Administrator every 30 days thereafter that the Document Defect is still in effect solely because of its failure to have received the recorded document and that the Seller is diligently pursuing the cure of such defect (specifying the actions being taken), except that no such deferral of cure, repurchase or substitution may continue beyond the date that is 18 months following the Closing Date. Any such repurchase or substitution of a Mortgage Loan shall be on a whole loan, servicing released basis. The Seller shall have no obligation to monitor the Mortgage Loans regarding the existence of a Breach or a Document Defect, but if the Seller discovers a Material Defect with respect to a Mortgage Loan, it will notify the Purchaser. Periodic Payments due with respect to each Qualified Substitute Mortgage Loan (if any) after the related Due Date in the month of substitution, and Periodic Payments due with respect to each Mortgage Loan being repurchased or replaced, and received by the Master Servicer or the Special Servicer on behalf of the Trust, after the related Cut-off Date through, but not including, the related date of repurchase or substitution, shall be part of the Trust Fund. Periodic Payments due with respect to each Qualified Substitute Mortgage Loan (if any) on or prior to the related Due Date in the month of substitution, and Periodic Payments due with respect to each Mortgage Loan being repurchased or replaced and received by the Master Servicer or the Special Servicer on behalf of the Trust after the related date of repurchase or substitution, shall not be part of the Trust Fund and are to be remitted by the Master Servicer to the Seller effecting the related repurchase or substitution within two Business Days following receipt of properly identified and available funds constituting such Periodic Payment. From and after the date of substitution, each Qualified Substitute Mortgage Loan, if any, that has been substituted shall be deemed to constitute a Mortgage Loan hereunder for all purposes.

Named Entities:
41
43
RenewalTerm
69
70
Title
356
357
Title
471
472
Principal

Tokenized Text:
(
iii
)
the
Seller
has
commenced
and
is
diligently
proceeding
with
the
cure
of
such
Material
Defect
within
such
Initial
Cure
Period
,
then
the
Seller
shall
have
an
additional
90
days
(
such
additional
90
day
period
,
the
Extended
Cure
Period
)
to
complete
such
cure
,
or
,
in
the
event
of
a
failure
to
so
cure
,
to
complete
such
repurchase
of
the
related
Mortgage
Loan
or
substitute
a
Qualified
Substitute
Mortgage
Loan
as
described
above
(
it
being
understood
and
agreed
that
,
in
connection
with
the
Sellers
receiving
such
Extended
Cure
Period
,
the
Seller
shall
deliver
an
Officers
Certificate
to
the
Trustee
,
the
Special
Servicer
,
the
Operating
Advisor
and
the
Certificate
Administrator
setting
forth
the
reasons
such
Material
Defect
was
not
cured
within
the
Initial
Cure
Period
and
what
actions
the
Seller
is
pursuing
in
connection
with
the
cure
of
such
Material
Defect
and
stating
that
the
Seller
anticipates
that
such
Material
Defect
will
be
cured
within
such
Extended
Cure
Period
)
;
and
provided
,
further
,
that
,
if
any
such
Material
Defect
is
still
not
cured
after
the
Initial
Cure
Period
and
any
such
Extended
Cure
Period
solely
due
to
the
failure
of
the
Seller
to
have
received
the
recorded
document
,
then
the
Seller
shall
be
entitled
to
continue
to
defer
its
cure
,
repurchase
or
substitution
obligations
in
respect
of
such
Document
Defect
so
long
as
the
Seller
certifies
to
the
Trustee
,
the
Special
Servicer
,
the
Operating
Advisor
and
the
Certificate
Administrator
every
30
days
thereafter
that
the
Document
Defect
is
still
in
effect
solely
because
of
its
failure
to
have
received
the
recorded
document
and
that
the
Seller
is
diligently
pursuing
the
cure
of
such
defect
(
specifying
the
actions
being
taken
)
,
except
that
no
such
deferral
of
cure
,
repurchase
or
substitution
may
continue
beyond
the
date
that
is
18
months
following
the
Closing
Date
.
Any
such
repurchase
or
substitution
of
a
Mortgage
Loan
shall
be
on
a
whole
loan
,
servicing
released
basis
.
The
Seller
shall
have
no
obligation
to
monitor
the
Mortgage
Loans
regarding
the
existence
of
a
Breach
or
a
Document
Defect
,
but
if
the
Seller
discovers
a
Material
Defect
with
respect
to
a
Mortgage
Loan
,
it
will
notify
the
Purchaser
.
Periodic
Payments
due
with
respect
to
each
Qualified
Substitute
Mortgage
Loan
(
if
any
)
after
the
related
Due
Date
in
the
month
of
substitution
,
and
Periodic
Payments
due
with
respect
to
each
Mortgage
Loan
being
repurchased
or
replaced
,
and
received
by
the
Master
Servicer
or
the
Special
Servicer
on
behalf
of
the
Trust
,
after
the
related
Cut-off
Date
through
,
but
not
including
,
the
related
date
of
repurchase
or
substitution
,
shall
be
part
of
the
Trust
Fund
.
Periodic
Payments
due
with
respect
to
each
Qualified
Substitute
Mortgage
Loan
(
if
any
)
on
or
prior
to
the
related
Due
Date
in
the
month
of
substitution
,
and
Periodic
Payments
due
with
respect
to
each
Mortgage
Loan
being
repurchased
or
replaced
and
received
by
the
Master
Servicer
or
the
Special
Servicer
on
behalf
of
the
Trust
after
the
related
date
of
repurchase
or
substitution
,
shall
not
be
part
of
the
Trust
Fund
and
are
to
be
remitted
by
the
Master
Servicer
to
the
Seller
effecting
the
related
repurchase
or
substitution
within
two
Business
Days
following
receipt
of
properly
identified
and
available
funds
constituting
such
Periodic
Payment
.
From
and
after
the
date
of
substitution
,
each
Qualified
Substitute
Mortgage
Loan
,
if
any
,
that
has
been
substituted
shall
be
deemed
to
constitute
a
Mortgage
Loan
hereunder
for
all
purposes
.