Document:

EXHIBIT 10.2

==============================================================================

                         COUNTRYWIDE HOME LOANS, INC.
                                   a Seller

                             _____________________
                                   a Seller

                                  CWHEQ, INC.
                                   Purchaser

                      ----------------------------------

                              PURCHASE AGREEMENT
                           Dated as of _______, 200_
                      ----------------------------------

                REVOLVING HOME EQUITY LOAN ASSET BACKED NOTES,
                                 Series 200_-_

==============================================================================

<PAGE>

                               Table of Contents
                                                                          Page
                                                                          ----

                                   ARTICLE I
                                  DEFINITIONS

Section 1.01.         Definitions............................................1

                                  ARTICLE II
               SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE

Section 2.01.         Sale of the Mortgage Loans.............................2
Section 2.02.         Obligations of Sellers Upon Sale.......................3
Section 2.03.         Payment of Purchase Price for the Mortgage Loans.......6

                                  ARTICLE III
              REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH

Section 3.01.         Seller Representations and Warranties..................6
Section 3.02.         Seller Representations and Warranties Relating
                      to the Mortgage Loans..................................8

                                  ARTICLE IV
                              SELLERS' COVENANTS

Section 4.01.         Covenants of the Sellers..............................20

                                   ARTICLE V
                                   SERVICING

Section 5.01.         Servicing.............................................20

                                  ARTICLE VI
                                  TERMINATION

Section 6.01.         Termination...........................................21

                                  ARTICLE VII
                           MISCELLANEOUS PROVISIONS

Section 7.01.         Amendment.............................................21
Section 7.02.         Governing Law.........................................21
Section 7.03.         Notices...............................................21
Section 7.04.         Severability of Provisions............................22
Section 7.05.         Counterparts; Electronic Delivery.....................22

                                      i
<PAGE>

Section 7.06.         Further Agreements....................................22
Section 7.07.         Successors and Assigns: Assignment of Purchase
                      Agreement.............................................22
Section 7.08.         Survival..............................................23

SCHEDULES AND ANNEXES

Schedule I            MORTGAGE LOAN SCHEDULE...........................Sch-I-1
Schedule II           STANDARD & POOR'S GLOSSARY......................Sch-II-1
Annex 1               ADOPTION ANNEX...................................Ann-1-1

                                      ii
<PAGE>

                                                                  EXHIBIT 10.2

     This PURCHASE AGREEMENT, dated as of _______, 200_ (the "Agreement"),
between COUNTRYWIDE HOME LOANS, INC., a New York corporation, as a seller
("CHL" or a "Seller"), ________________, a ________________ corporation, as a
seller ("[SELLER NAME]" or a "Seller," and together with CHL, the "Sellers"),
and CWHEQ, Inc., a Delaware corporation (the "Purchaser"),

                                  WITNESSETH:

     WHEREAS, each Seller is the owner of the applicable notes or other
evidence of indebtedness indicated on Schedule I as owned by that Seller, and
certain other notes or other evidence of indebtedness made or to be made in
the future, and Related Documentation; and

     WHEREAS, by the date of their transfer, each Seller will own the
mortgages on the properties securing the Mortgage Loans indicated on Schedule
I as owned by that Seller, including rights to (a) any property acquired by
foreclosure or deed in lieu of foreclosure or otherwise and (b) the proceeds
of any hazard insurance policies on the Mortgaged Properties; and

     WHEREAS, each Seller wants to sell its Mortgage Loans to the Purchaser
pursuant to this Agreement; and

     WHEREAS, pursuant to the Sale and Servicing Agreement, of even date with
this Agreement (the "Sale and Servicing Agreement"), among the Purchaser, as
depositor, CHL, as sponsor and master servicer, the Trust, and the Indenture
Trustee, the Purchaser will transfer the Mortgage Loans to the Trust;

     NOW, THEREFORE, the parties agree as follows.

                                  ARTICLE I

                                  DEFINITIONS

     Section 1.01. Definitions.

     Capitalized terms used in this Agreement that are not otherwise defined
have the meanings given to them in the Indenture, and if not defined there, in
the Sale and Servicing Agreement. In addition, Section 1.04 (Rules of
Construction) of the Indenture is incorporated by reference with appropriate
substitution of this Agreement for references in that Section to the Indenture
so that the language of that Section will read appropriately as applying to
this Agreement.

<PAGE>

                                  ARTICLE II

               SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE

     Section 2.01. Sale of the Mortgage Loans.

     (a) The Initial Mortgage Loans. Concurrently with the execution and
delivery of this Agreement, CHL, with respect to each Initial Mortgage Loan it
owns as indicated on Schedule I, hereby transfers to the Purchaser, without
recourse, all of its right, title, and interest existing now or in the future
in

          (1) that Mortgage Loan, including its Asset Balance (including all
     Additional Balances), the related Mortgage File, all property that
     secures that Mortgage Loan, and all collections received on it after the
     Cut-off Date (excluding payments due by the Cut-off Date);

          (2) property that secured that Mortgage Loan that is acquired by
     foreclosure or deed in lieu of foreclosure;

          (3) its rights under the hazard insurance policies related to the
     mortgages that secure the Mortgage Loans;

          (4) all rights under any guaranty executed in connection with that
     Mortgage Loan; (5) all other assets included or to be included in the
     Trust for the benefit of the Noteholders; and (6) all proceeds of the
     foregoing.

     ____________ , with respect to each Initial Mortgage Loan it owns as
indicated on Schedule I, hereby transfers to the Purchaser, without recourse,
all of its right, title, and interest existing now or in the future in

          (1) that Mortgage Loan, including its Asset Balance (including all
     Additional Balances), the related Mortgage File, all property that
     secures that Mortgage Loan, and all collections received on it after the
     Cut-off Date (excluding payments due by the Cut-off Date);

          (2) property that secured that Mortgage Loan that is acquired by
     foreclosure or deed in lieu of foreclosure;

          (3) its rights under the hazard insurance policies related to the
     mortgages that secure the Mortgage Loans;

          (4) all rights under any guaranty executed in connection with that
     Mortgage Loan;

                                      2
<PAGE>

          (5) all other assets included or to be included in the Trust for the
     benefit of the Noteholders; and

          (6) all proceeds of the foregoing.

     The Additional Home Equity Loans. The Purchaser may use the funds in each
Additional Loan Account to purchase Additional Home Equity Loans on any
Subsequent Closing Date designated by the Purchaser by the Latest Subsequent
Closing Date. On each Subsequent Closing Date, each Seller shall deliver a
Transfer Document (properly completed and executed by the Seller) to the
Purchaser. When each Seller delivers a Transfer Document, that Seller hereby
transfers to the Purchaser without recourse, and the Purchaser purchases and
shall effect payment for, all of its right, title, and interest in each
Additional Home Equity Loan identified in the Transfer Document, including its
Asset Balance (including all Additional Balances) and all collections received
on it after the relevant Subsequent Cut-off Date (excluding payments due by
the Subsequent Cut-off Date) and all proceeds of the foregoing.

     (b) By the sale of a Mortgage Loan and its Additional Balances, each
Seller has sold to the Purchaser, and the Purchaser has purchased from each
Seller, each future draw of new borrowing under the related Credit Line
Agreement. The Purchaser shall pay the applicable Seller for each Additional
Balance in cash in an amount equal to the principal amount of the Additional
Balance as it arises. The Trust, the applicable Seller, and the Purchaser may
agree to a netting arrangement in connection with this transaction, when
appropriate, rather than actually moving cash.

     Section 2.02. Obligations of Sellers Upon Sale.

     In connection with the transfers pursuant to Section 2.01(a), each Seller
further agrees, at its own expense:

     (a) to deliver to the Purchaser by the Closing Date a Mortgage Loan
Schedule containing an accurate list of all Initial Mortgage Loans sold by it,
specifying for each Initial Mortgage Loan, among other things, its account
number and its Cut-off Date Asset Balance;

     (b) to indicate in its books and records that the applicable Mortgage
Loans have been sold to the Indenture Trustee, as assignee of the Purchaser,
pursuant to this Agreement by the Closing Date for the Initial Mortgage Loans,
and by each Subsequent Closing Date for the related Additional Home Equity
Loans;

     (c) to deliver to the Purchaser, or at the Purchaser's direction to the
Indenture Trustee and the Owner Trustee an Officer's Certificate confirming
the satisfaction of each of the conditions precedent in Section 2.01(b) of the
Sale and Servicing Agreement by each Subsequent Closing Date; and

                                      3
<PAGE>

     (d) to deliver to the Purchaser, or at the Purchaser's direction to the
Indenture Trustee, a revised Mortgage Loan Schedule reflecting the addition of
the Additional Home Equity Loans within 15 days following each Subsequent
Closing Date.

     The Initial Mortgage Loan Schedule containing the Mortgage Loans sold by
both Sellers is Exhibit A to the Sale and Servicing Agreement and shall also
be attached as Schedule I to this Agreement and is hereby incorporated into
this Agreement.

     Each Seller agrees to perfect and protect the Purchaser's interest in
each Mortgage Loan transferred by it pursuant to Section 2.01(a) and its
proceeds by preparing, executing, and filing a UCC1 Financing Statement with
the Secretary of State in the State of New York or the Secretary of State in
the State of Delaware, as applicable, describing the Mortgage Loans and naming
the applicable Seller as debtor and the Purchaser as secured party and
indicating that the Mortgage Loans have been assigned to the Trust and all
necessary Continuation Statements and any additional UCC1 Financing Statements
due to a change in the name or the state of incorporation of that Seller. The
Financing Statement shall be filed by the Closing Date. This Financing
Statement will state in bold-faced type that a purchase of the Mortgage Loans
included in the collateral covered by the Financing Statement from the debtor
will violate the rights of the secured party and its assignee.

     The Purchaser agrees to perfect and protect the Trust's interest in each
Mortgage Loan and its proceeds by preparing, executing, and filing a UCC1
Financing Statement with the Secretary of State in the State of Delaware
describing the Mortgage Loans and naming the Purchaser as debtor and the Trust
as secured party (and indicating that the Mortgage Loans have been pledged to
the Indenture Trustee) and all necessary Continuation Statements and any
additional UCC1 Financing Statements due to a change in the name or the state
of incorporation of the Purchaser. The Financing Statement shall be filed by
the Closing Date. This Financing Statement will state in bold-faced type that
a purchase of the Mortgage Loans included in the collateral covered by the
Financing Statement from the debtor will violate the rights of the secured
party and its assignee.

     In connection with any transfer by a Seller, it shall deliver to the
order of the Purchaser the following documents for each Mortgage Loan
transferred by that Seller (the "Related Documentation"):

          (1) the original Mortgage Note endorsed in blank or, if the original
     Mortgage Note has been lost or destroyed and not replaced, an original
     lost note affidavit from the Sponsor stating that the original Mortgage
     Note was lost, misplaced, or destroyed, together with a copy of the
     related Mortgage Note;

          (2) unless the Mortgage Loan is registered on the MERS(R) System, an
     original assignment of mortgage in blank in recordable form;

                                      4
<PAGE>

          (3) the original recorded mortgage with evidence of recording on it
     (noting the presence of the MIN of the Mortgage Loan and language
     indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a
     MOM Loan) or, if the original recorded mortgage with evidence of
     recording on it cannot be delivered by the Closing Date because of a
     delay caused by the public recording office where the original Mortgage
     has been delivered for recordation or because the original Mortgage has
     been lost, the Sponsor shall deliver to the Indenture Trustee an accurate
     copy of the mortgage, together with (i) when the delay is caused by the
     public recording office, an Officer's Certificate of the Sponsor or the
     Purchaser stating that the original mortgage has been dispatched to the
     appropriate public recording official or (ii) when the original mortgage
     has been lost, a certificate by the appropriate county recording office
     where the mortgage is recorded;

          (4) any original intervening assignments needed for a complete chain
     of title to the Trust with evidence of recording on them, or, if any
     original intervening assignment has not been returned from the applicable
     recording office or has been lost, an accurate copy of it, together with
     (i) when the delay is caused by the public recording office, an Officer's
     Certificate of the Sponsor or the Purchaser stating that the original
     intervening assignment has been dispatched to the appropriate public
     recording official for recordation or (ii) when the original intervening
     assignment has been lost, a certificate by the appropriate county
     recording office where the mortgage is recorded;

          (5) a title policy for each Mortgage Loan with a Credit Limit in
     excess of $100,000;

          (6) the original of any guaranty executed in connection with the
     Mortgage Note;

          (7) the original of each assumption, modification, consolidation, or
     substitution agreement relating to the Mortgage Loan; and

          (8) any security agreement, chattel mortgage, or equivalent
     instrument executed in connection with the Mortgage.

     The Related Documentation for the Initial Mortgage Loans will be
delivered:

          (1) no later than the Closing Date, with respect to no less than 50%
     of the Initial Mortgage Loans,

          (2) no later than the twentieth day after the Closing Date, with
     respect to no less than 40% of the Initial Mortgage Loans in addition to
     those delivered on the Closing Date, and

          (3) within thirty days following the Closing Date, with respect to
     the remaining Initial Mortgage Loans.

                                      5
<PAGE>

     The Related Documentation for the Additional Home Equity Loans will be
delivered:

     (1) no later than relevant Subsequent Closing Date, with respect to no
less than 10% of the relevant Additional Home Equity Loans; and

     (2) within twenty days following the relevant Subsequent Closing Date,
with respect to the remaining relevant Additional Home Equity Loans.

     Each Seller confirms to the Purchaser that, as of the Closing Date, it
has caused the portions of the Electronic Ledger relating to the Initial
Mortgage Loans maintained by that Seller to be clearly and unambiguously
marked to indicate that the Initial Mortgage Loans have been sold to the
Purchaser, and sold by the Purchaser to the Trust, and Granted by the Trust to
the Indenture Trustee, and that a purchase of those Mortgage Loans from that
Seller or the Purchaser will violate the rights of the Trust, as secured party
with respect to those Mortgage Loans. By the relevant Subsequent Closing Date
or the applicable date of substitution, as applicable, CHL shall cause the
portions of the Electronic Ledgers relating to the relevant Additional Home
Equity Loans or Eligible Substitute Mortgage Loans, as the case may be, to be
clearly and unambiguously marked, and shall make appropriate entries in its
general accounting records, to indicate that those Mortgage Loans have been
transferred to the Trust at the direction of the Purchaser and that they have
been Granted by the Trust to the Indenture Trustee, and that a purchase of the
Mortgage Loans from CHL or the Purchaser will violate the rights of the Trust,
as secured party with respect to those Mortgage Loans.

     The Purchaser accepts all right, title, and interest of each of the
Sellers existing now or in the future in the Mortgage Loans and other property
transferred to it pursuant to this Section.

     The transfer of the Mortgage Loans is a sale by each Seller to the
Purchaser of all its interest in the applicable Mortgage Loans and other
property described above. However, to provide for the possibility that either
transfer might be characterized as a transfer for security and not as a sale,
each Seller hereby grants to the Purchaser a Security Interest in all of its
right, title, and interest in the applicable Mortgage Loans and other property
described above, whether existing now or in the future, to secure all of that
its obligations under this Agreement; and this Agreement shall constitute a
Security Agreement under applicable law.

     Section 2.03. Payment of Purchase Price for the Mortgage Loans.

     (a) In consideration of the sale of the Initial Mortgage Loans from each
of the Sellers to the Purchaser on the Closing Date, the Purchaser agrees to
transfer to the applicable Seller on the Closing Date the purchase price for
the applicable Initial Mortgage Loans provided in the Adoption Annex attached
as Annex 1 to this Agreement (the "Adoption Annex").

                                      6
<PAGE>

     (b) In consideration of the sale of the Additional Home Equity Loans from
the Seller to the Purchaser on each Subsequent Closing Date, the Purchaser
agrees to cause the Trust to pay to the Seller, when the conditions to the
release of the purchase price for the Additional Home Equity Loans under the
Sale and Servicing Agreement have been met, an amount equal to their Cut-off
Date Asset Balance.

                                 ARTICLE III

              REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH

     Section 3.01. Sellers Representations and Warranties.

     (a) CHL represents and warrants to the Purchaser as of the Closing Date:

          (1) CHL is a New York corporation, validly existing and in good
     standing under the laws of the State of New York, and has the corporate
     power to own its assets and to transact the business in which it is
     currently engaged. CHL is duly qualified to do business as a foreign
     corporation and is in good standing in each jurisdiction in which the
     character of the business transacted by it or any properties owned or
     leased by it requires such qualification and in which the failure so to
     qualify would have a material adverse effect on the business, properties,
     assets, or condition (financial or other) of CHL;

          (2) CHL has the power and authority to make, execute, deliver, and
     perform this Agreement and all of the transactions contemplated by this
     Agreement, and has taken all necessary corporate action to authorize the
     execution, delivery, and performance of this Agreement. When executed and
     delivered, this Agreement will constitute the valid and legally binding
     obligation of CHL enforceable in accordance with its terms;

          (3) CHL is not required to obtain the consent of any other party or
     any consent, license, approval or authorization from, or registration or
     declaration with, any governmental authority, bureau, or agency in
     connection with the execution, delivery, performance, validity, or
     enforceability of this Agreement, except for any consents, licenses,
     approvals or authorizations, or registrations or declarations, that have
     been obtained or filed, as the case may be, before the Closing Date;

          (4) The execution, delivery, and performance of this Agreement by
     the Seller will not violate any provision of any existing law or
     regulation or any order or decree of any court applicable to the Seller
     or any provision of the certificate of incorporation or bylaws of CHL, or
     constitute a material breach of any mortgage,

                                      7
<PAGE>

     indenture, contract, or other agreement to which CHL is a party or by
     which CHL may be bound; and

          (5) No litigation or administrative proceeding of or before any
     court, tribunal, or governmental body is currently pending, or to the
     knowledge of CHL threatened, against CHL or any of its properties or with
     respect to this Agreement or the Notes that in the opinion of CHL has a
     reasonable likelihood of resulting in a material adverse effect on the
     transactions contemplated by this Agreement.

          (6) The representations in Section 3.01(b) are true.

     (b) ____________ represents and warrants to the Purchaser as of the
Closing Date:

          (1) ____________ is a Delaware corporation, validly existing and in
     good standing under the laws of the State of Delaware, and has the
     corporate power to own its assets and to transact the business in which
     it is currently engaged. ____________ is duly qualified to do business as
     a foreign corporation and is in good standing in each jurisdiction in
     which the character of the business transacted by it or any properties
     owned or leased by it requires such qualification and in which the
     failure so to qualify would have a material adverse effect on the
     business, properties, assets, or condition (financial or other) of
     ____________ .

          (2) ____________ has the power and authority to make, execute,
     deliver, and perform this Agreement and all of the transactions
     contemplated by this Agreement, and has taken all necessary corporate
     action to authorize the execution, delivery, and performance of this
     Agreement. When executed and delivered, this Agreement will constitute
     the valid and legally binding obligation of ____________ enforceable in
     accordance with its terms;

          (3) ____________ is not required to obtain the consent of any other
     party or any consent, license, approval or authorization from, or
     registration or declaration with, any governmental authority, bureau, or
     agency in connection with the execution, delivery, performance, validity,
     or enforceability of this Agreement, except for any consents, licenses,
     approvals or authorizations, or registrations or declarations, that have
     been obtained or filed, as the case may be, before the Closing Date;

          (4) The execution, delivery, and performance of this Agreement by
     ____________ will not violate any provision of any existing law or
     regulation or any order or decree of any court applicable to ____________
     or any provision of the certificate of incorporation or bylaws of
     ____________ , or constitute a material breach of any mortgage,
     indenture, contract, or other agreement to which ____________ is a party
     or by which ____________ may be bound; and

                                      8
<PAGE>

          (5) No litigation or administrative proceeding of or before any
     court, tribunal, or governmental body is currently pending, or to the
     knowledge of ____________ threatened, against ____________ or any of its
     properties or with respect to this Agreement or the Notes that in the
     opinion of ____________ has a reasonable likelihood of resulting in a
     material adverse effect on the transactions contemplated by this
     Agreement.

     (c) The representations and warranties in this Section 3.01 shall survive
the transfer of the Mortgage Loans to the Purchaser. CHL shall cure a breach
of any of the representations and warranties of CHL and ____________ in
accordance with the Sale and Servicing Agreement. The remedy specified in the
Sale and Servicing Agreement shall constitute the sole remedy against a Seller
with respect to any breach.

     Section 3.02. Seller Representations and Warranties Relating to the
Mortgage Loans.

     (a) CHL represents and warrants to the Purchaser as of the Cut-off Date,
unless specifically stated otherwise:

          (1) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, this Agreement
     constitutes a valid and legally binding obligation of CHL, enforceable
     against CHL in accordance with its terms.

          (2) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, either

               (A) this Agreement constitutes a valid transfer to the
          Purchaser of all right, title, and interest of each of the Sellers
          in the applicable Mortgage Loans, and all collections received in
          respect of the applicable Mortgage Loans after the Cut-off Date or
          Subsequent Cut-off Date, as applicable (excluding payments due by
          the Cut-off Date or Subsequent Cut-off Date, as applicable), all
          proceeds of the applicable Mortgage Loans, and all other property
          specified in Section 2.01(a) or (b), and the Sale and Servicing
          Agreement constitutes a valid transfer to the Trust of the foregoing
          property and all other property specified in Section 2.01(a) or (b)
          of the Sale and Servicing Agreement such that, on execution of the
          Sale and Servicing Agreement, it is owned by the Trust free of all
          liens and other encumbrances, and is part of the corpus of the Trust
          transferred to the Trust by the Purchaser, and upon payment for the

                                      9
<PAGE>

          Additional Balances, this Agreement and the Sale and Servicing
          Agreement will constitute a valid transfer to the Trust of all
          interest of each of the Sellers in the Additional Balances, all
          proceeds of the Additional Balances, and all other property
          specified in Section 2.01(a) of the Sale and Servicing Agreement
          relating to the Additional Balances free of all liens and other
          encumbrances, and the Indenture constitutes a valid Grant of a
          Security Interest to the Indenture Trustee in that property, and the
          Indenture Trustee has a first priority perfected Security Interest
          in the property, subject to the effect of Section 9-315 of the UCC
          with respect to collections on the Mortgage Loans that are deposited
          in the Collection Account in accordance with the next to last
          paragraph of Section 3.02(b) of the Sale and Servicing Agreement, or

               (B) this Agreement or the Sale and Servicing Agreement, as
          appropriate, constitutes a Grant of a Security Interest to the Owner
          Trustee on behalf of the Trust and the Indenture constitutes a Grant
          of a Security Interest to the Indenture Trustee in the property
          described in clause (A) above. If this Agreement and the Sale and
          Servicing Agreement constitute the Grant of a Security Interest to
          the Trust and the Indenture constitutes a Grant of a Security
          Interest to the Indenture Trustee in such property, the Indenture
          Trustee will have a first priority perfected Security Interest in
          the property, subject to the effect of Section 9-315 of the UCC with
          respect to collections on the Mortgage Loans that are deposited in
          the Collection Account in accordance with the next to last paragraph
          of Section 3.02(b) of the Sale and Servicing Agreement. This
          Security Interest is enforceable as such against creditors of and
          purchasers from the Trust, the Purchaser, and each of the Sellers.

          (3) CHL has not authorized the filing of and is not aware of any
     financing statements against either Seller that include a description of
     collateral covering the Collateral other than any financing statement (A)
     relating to the Security Interests granted to the Depositor, the Trust,
     or the Indenture Trustee under this Agreement, pursuant to the Sale and
     Servicing Agreement, or pursuant to the Indenture, (B) that has been
     terminated, or (C) that names the Depositor, the Trust, or the Indenture
     Trustee as secured party.

          (4) As of the Closing Date, the information in the Mortgage Loan
     Schedule for the Initial Mortgage Loans is correct in all material
     respects. As of the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, the information in the Mortgage Loan
     Schedule for the relevant Additional Home Equity is correct in all
     material respects. As of the applicable date of substitution for an
     Eligible Substitute Mortgage Loan, the information with respect to the
     Eligible Substitute

                                      10
<PAGE>

     Mortgage Loan in the Mortgage Loan Schedule is correct in all material
     respects. As of the date any Additional Balance is created, the
     information as to the Mortgage Loan identification number and the
     Additional Balance of that Mortgage Loan reported for inclusion in the
     Mortgage Loan Schedule is correct in all material respects.

          (5) The applicable Mortgage Loans have not been assigned or pledged,
     and the related Seller is their sole owner and holder free of any liens,
     claims, encumbrances, participation interests, equities, pledges,
     charges, or Security Interests of any nature, and has full authority,
     under all governmental and regulatory bodies having jurisdiction over the
     ownership of the applicable Mortgage Loans, to transfer them pursuant to
     this Agreement.

          (6) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the related Mortgage
     Note and the mortgage for each Mortgage Loan have not been assigned or
     pledged, and immediately before the sale of the Mortgage Loans to the
     Purchaser, the related Seller was the sole owner and holder of the
     Mortgage Loan free of any liens, claims, encumbrances, participation
     interests, equities, pledges, charges, or Security Interests of any
     nature, and has full authority, under all governmental and regulatory
     bodies having jurisdiction over the ownership of the applicable Mortgage
     Loans, to transfer it pursuant to this Agreement.

          (7) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the related mortgage is
     a valid and subsisting first lien on the property described in it, as
     shown on the Mortgage Loan Schedule with respect to each related Mortgage
     Loan, and as of the Cut-off Date, relevant Subsequent Closing Date, or
     date of substitution, as applicable, the related Mortgaged Property is
     free of all encumbrances and liens having priority over the first lien of
     the mortgage except for liens for

               (A) real estate taxes and special assessments not yet
          delinquent;

               (B) covenants, conditions and restrictions, rights of way,
          easements, and other matters of public record as of the date of
          recording that are acceptable to mortgage lending institutions
          generally; and

               (C) other matters to which like properties are commonly subject
          that do not materially interfere with the benefits of the security
          intended to be provided by the mortgage.

          (8) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans,

                                      11
<PAGE>

     or the applicable date of substitution with respect to any Eligible
     Substitute Mortgage Loan, no obligor has a valid offset, defense, or
     counterclaim under any Credit Line Agreement or mortgage.

          (9) To the best knowledge of CHL, as of the Closing Date with
     respect to the Initial Mortgage Loans, the relevant Subsequent Closing
     Date with respect to any Additional Home Equity Loans, or the applicable
     date of substitution with respect to any Eligible Substitute Mortgage
     Loan, no related Mortgaged Property has any delinquent recording or other
     tax or fee or assessment lien or governmental charge against it, other
     than those that have been or will be paid by the Seller.

          (10) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no proceeding is
     pending or, to the best knowledge of CHL, threatened for the total or
     partial condemnation of the related Mortgaged Property, and the property
     is free of material damage and is in good repair.

          (11) To the best knowledge of CHL, as of the Closing Date with
     respect to the Initial Mortgage Loans, the relevant Subsequent Closing
     Date with respect to any Additional Home Equity Loans, or the applicable
     date of substitution with respect to any Eligible Substitute Mortgage
     Loan, no mechanics' or similar liens or claims have been filed for work,
     labor, or material affecting the related Mortgaged Property that are, or
     may be, liens prior or equal to the lien of the related mortgage, except
     liens that are fully insured against by the title insurance policy
     referred to in clause (16).

          (12) No Minimum Monthly Payment on an Initial Mortgage Loan being
     transferred on the Closing Date is more than 59 days delinquent (measured
     on a contractual basis) and no Minimum Monthly Payment on any other
     Mortgage Loan subsequently being transferred is more than 30 days
     delinquent (measured on a contractual basis) on the relevant transfer
     date and no more than the applicable percentage specified in the Adoption
     Annex of the Initial Mortgage Loans being transferred on the Closing Date
     (by Cut-off Date Loan Balance) were 30-59 days delinquent (measured on a
     contractual basis).

          (13) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the Mortgage File for
     each Mortgage Loan contains each of the documents specified to be
     included in it.

          (14) At origination, each Mortgage Loan and the related Mortgage
     Note complied in all material respects with applicable local, state, and
     federal laws, including

                                      12
<PAGE>

     all applicable predatory and abusive lending laws, usury,
     truth-in-lending, real estate settlement procedures, consumer credit
     protection, equal credit opportunity, or disclosure laws applicable to
     the Mortgage Loan, and the servicing practices used by the Master
     Servicer with respect to each Mortgage Loan have been consistent with the
     practices and the degree of skill and care the Master Servicer exercises
     in servicing for itself loans that it owns that are comparable to the
     Mortgage Loans.

          (15) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no Mortgage Loan is a
     High Cost Loan or Covered Loan, as applicable, and no Mortgage Loan
     originated on or after October 1, 2002 through March 6, 2003 is governed
     by the Georgia Fair Lending Act; and "High Cost Loan" and "Covered Loan"
     have the meaning assigned to them in the Standard & Poor's LEVELS(R)
     Glossary attached as Schedule II (the "Glossary") where

               (x) a "High Cost Loan" is each loan identified in the column
          "Category under applicable anti-predatory lending law" of the table
          entitled "Standard & Poor's High Cost Loan Categorization" in the
          Glossary as each such loan is defined in the applicable
          anti-predatory lending law of the state or jurisdiction specified in
          such table and

               (y) "Covered Loan" is each loan identified in the column
          "Category under applicable anti-predatory lending law" of the table
          entitled "Standard & Poor's Covered Loan Categorization" in the
          Glossary as each such loan is defined in the applicable
          anti-predatory lending law of the state or jurisdiction specified in
          such table.

          (16) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, either a lender's title
     insurance policy or binder was issued or a guaranty of title customary in
     the relevant jurisdiction was obtained, on the date of origination of the
     Mortgage Loan being transferred on the relevant date and each policy is
     valid and remains in full force.

          (17) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, none of the Mortgaged
     Properties is a mobile home or a manufactured housing unit that is not
     considered or classified as part of the real estate under the laws of the
     jurisdiction in which it is located.

                                      13
<PAGE>

          (18) No more than the percentage specified in the Adoption Annex of
     the Initial Mortgage Loans, by aggregate principal balance of the related
     Mortgage Loans, are secured by Mortgaged Properties located in one United
     States postal zip code.

          (19) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the Loan-to-Value Ratio
     for each Mortgage Loan was not in excess of the percentage specified in
     the Adoption Annex.

          (20) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no selection procedure
     reasonably believed by CHL to be adverse to the interests of the
     Transferor or the Noteholders was used in selecting the Mortgage Loans.

          (21) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, neither Seller has
     transferred the Mortgage Loans to the Trust with any intent to hinder,
     delay, or defraud any of its creditors.

          (22) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the Minimum Monthly
     Payment with respect to any Mortgage Loan is not less than the interest
     accrued at the applicable Loan Rate on the average daily Asset Balance
     during the interest period relating to the date on which the Minimum
     Monthly Payment is due.

          (23) The Mortgage Notes constitute either "instruments" or "general
     intangibles" as defined in the UCC.

          (24) By the Closing Date with respect to the Initial Mortgage Loans,
     the relevant Subsequent Closing Date with respect to any Additional Home
     Equity Loans, or within 30 days of the applicable date of substitution
     with respect to any Eligible Substitute Mortgage Loan, the Sponsor will
     file UCC1 financing statements in the proper filing office in the
     appropriate jurisdiction to perfect the Security Interest in the
     Collateral Granted under the Indenture.

          (25) The Mortgage Notes that constitute or evidence the Collateral
     do not have any marks or notations indicating that they have been
     pledged, assigned, or otherwise transferred to any person other than the
     Purchaser, the Trust, or the Indenture Trustee. All financing statements
     filed or to be filed against each Seller in favor of the

                                      14
<PAGE>

     Purchaser, the Trust, or the Indenture Trustee in connection with this
     Agreement, the Sale and Servicing Agreement, or the Indenture describing
     the Collateral contain a statement to the following effect: "A purchase
     of the Mortgage Loans included in the collateral covered by this
     financing statement will violate the rights of the Purchaser, the Trust,
     or the Indenture Trustee."

          (26) As of the Closing Date, CHL and ____________ will have received
     a written acknowledgement from the Custodian that is acting solely as
     agent of the Indenture Trustee.

          (27) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, each Credit Line
     Agreement and each Mortgage Loan is an enforceable obligation of the
     related mortgagor.

          (28) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, neither Seller has
     received a notice of default of any senior mortgage loan related to a
     Mortgaged Property that has not been cured by a party other than the
     Master Servicer.

          (29) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the definition of
     "prime rate" in each Credit Line Agreement relating to a Mortgage Loan
     does not differ materially from "the highest `prime rate' as published in
     the `Money Rates' table of The Wall Street Journal as of the first
     business day of the calendar month for the applicable interest rate
     adjustment date."

          (30) The weighted average remaining term to maturity of the Initial
     Mortgage Loans on a contractual basis as of the Cut-off Date is
     approximately the number of months specified in the Adoption Annex. On
     each date that the Loan Rates have been adjusted, interest rate
     adjustments on the Initial Mortgage Loans were made in compliance with
     the related mortgage and Mortgage Note and applicable law. Over the term
     of each Mortgage Loan, the Loan Rate may not exceed the related Loan Rate
     Cap. The Loan Rate Cap for the Initial Mortgage Loans ranges between the
     percentages specified in the Adoption Annex and the weighted average Loan
     Rate Cap is approximately the percentage
specified in the Adoption Annex.
     The Gross Margins for the Initial Mortgage Loans range between the
     percentages specified in the Adoption Annex and the weighted average
     Gross Margin is approximately the percentage

                                      15
<PAGE>

     specified in the Adoption Annex as of the Cut-off Date for the Initial
     Mortgage Loans. The Loan Rates on the Initial Mortgage Loans range
     between the percentages specified in the Adoption Annex and the weighted
     average Loan Rate on the Initial Mortgage Loans is approximately the
     percentage specified in the Adoption Annex.

          (31) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, each Mortgaged Property
     consists of a single parcel of real property with a one-to-four unit
     single family residence erected on it, or an individual condominium unit,
     planned unit development unit, or townhouse.

          (32) No more than the percentage specified in the Adoption Annex (by
     Cut-off Date Loan Balance) of the Initial Mortgage Loans are secured by
     real property improved by individual condominium units, units in planned
     unit developments, townhouses, or two-to-four family residences erected
     on them, and at least the percentage specified in the Adoption Annex (by
     Cut-off Date Loan Balance) of the Mortgage Loans are secured by real
     property with a detached one-family residence erected on them.

          (33) The Credit Limits on the Initial Mortgage Loans range between
     approximately the dollar amounts specified in the Adoption Annex with an
     average of approximately the dollar amount specified in the Adoption
     Annex. As of the Cut-off Date for the Initial Mortgage Loans, no Mortgage
     Loan had a principal balance in excess of approximately the dollar amount
     specified in the Adoption Annex and the average principal balance of the
     Initial Mortgage Loans is equal to approximately the dollar amounts
     specified in the Adoption Annex.

          (34) Approximately the percentages specified in the Adoption Annex
     of the Initial Mortgage Loans, by aggregate principal balance as of the
     Cut-off Date, are secured by first and second liens.

          (35) As of the Closing Date, no more than the percentage specified
     in the Adoption Annex of the Initial Mortgage Loans, by aggregate
     principal balance, were appraised electronically.

          (36) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no default exists under
     any applicable Mortgage Note or applicable Mortgage Loan and no event
     that, with the passage of time or with notice and the expiration of any
     grace or cure period, would constitute a default under any applicable
     Mortgage Note or applicable Mortgage Loan has occurred and been waived.
     As of the Closing

                                      16
<PAGE>

     Date with respect to the Initial Mortgage Loans, the relevant Subsequent
     Closing Date with respect to any Additional Home Equity Loans, or the
     applicable date of substitution with respect to any Eligible Substitute
     Mortgage Loan, no modifications to the applicable Mortgage Notes and
     applicable Mortgage Loans have been made and not disclosed.

          (37) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, each Mortgage Loan was
     originated in accordance with the Sponsor's underwriting guidelines and
     the Sponsor had no knowledge of any fact that would have caused a
     reasonable originator of mortgage loans to conclude on the date of
     origination of each Mortgage Loan that each such Mortgage Loan would not
     be paid in full when due.

          (38) To the best knowledge of CHL at the time of origination of each
     Mortgage Loan, no improvement located on or being part of the Mortgaged
     Property was in violation of any applicable zoning and subdivision laws
     or ordinances.

          (39) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, any leasehold estate
     securing a Mortgage Loan has a term of not less than five years in excess
     of the term of the related Mortgage Loan.

          (40) Based on the drawn balances of the Initial Mortgage Loans, the
     Initial Mortgage Loans had the characteristics set out in the Adoption
     Annex in respect of the following: weighted average Combined
     Loan-to-Value Ratio; range of Combined Loan-to-Value Ratios; percentage
     of primary residences; weighted average FICO score; range of FICO scores;
     Weighted Average Net Loan Rate; range of net Loan Rates; weighted average
     original stated term to maturity; range of original term to maturity;
     range of remaining term to maturity; average drawn balance; weighted
     average utilization ratio; and percentage of the Initial Mortgage Loans
     that have their respective Mortgaged Properties located in the top five
     states, measured by aggregate drawn balances.

          (41) Any Initial Mortgage Loan that has been modified in any manner
     has been so modified in accordance with the policies and procedures of
     the Master Servicer and in a manner that was permitted by the Sale and
     Servicing Agreement, the Indenture, and any other Transaction Document.

          (42) Each Initial Mortgage Loan was originated (within the meaning
     of Section 3(a)(41) of the Securities Exchange Act of 1934) by an entity
     that satisfied at

                                      17
<PAGE>

     the time of origination the requirements of Section 3(a)(41) of the
     Securities Exchange Act of 1934.

          (43) At the time each Initial Mortgage Loan was originated, each
     Seller was, and each Seller is an approved seller of conventional
     mortgage loans for Fannie Mae and Freddie Mac and is a mortgagee approved
     by the Secretary of Housing and Urban Development pursuant to Sections
     203 and 211 of the National Housing Act.

          (44) A lender's policy of title insurance together with a
     condominium endorsement and extended coverage endorsement, if applicable,
     in an amount at least equal to the principal balance of the related
     Mortgage Loan as of the Cut-off Date or the relevant Subsequent Cut-off
     Date, as applicable, or a commitment (binder) to issue the same was
     effective on the date of the origination of each Mortgage Loan, each such
     policy is valid and remains in full force, and each such policy was
     issued by a title insurer qualified to do business in the jurisdiction
     where the Mortgaged Property is located and acceptable to Fannie Mae and
     Freddie Mac and is in a form acceptable to Fannie Mae and Freddie Mac,
     which policy insures the Sponsor and successor owners of indebtedness
     secured by the insured Mortgage, as to the first priority lien, of the
     Mortgage subject to the exceptions in paragraph (7) above.

          (45) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the improvements on
     each Mortgaged Property are covered by a valid and existing hazard
     insurance policy with a generally acceptable carrier that provides for
     fire and extended coverage and coverage for such other hazards as are
     customary in the area where the Mortgaged Property is located in an
     amount that is at least equal to the lesser of (i) the maximum insurable
     value of the improvements securing the Mortgage Loan or (ii) the greater
     of (a) the outstanding principal balance of the Mortgage Loan and (b) an
     amount such that the proceeds of the policy will be sufficient to prevent
     the Mortgagor or the mortgagee from becoming a co-insurer. If the
     Mortgaged Property is a condominium unit, it is included under the
     coverage afforded by a blanket policy for the condominium unit. All such
     individual insurance policies and all flood policies referred to in item
     (46) below contain a standard mortgagee clause naming the Sponsor or the
     original mortgagee, and its successors in interest, as mortgagee, and the
     Sponsor has received no notice that any premiums due and payable thereon
     have not been paid, and the Mortgage obligates the Mortgagor thereunder
     to maintain all such insurance, including flood insurance, at the
     Mortgagor's expense, and upon the Mortgagor's failure to do so,
     authorizes the holder of the Mortgage to obtain and maintain such

                                      18
<PAGE>

     insurance at the Mortgagor's expense and to seek reimbursement therefor
     from the Mortgagor.

          (46) If the Mortgaged Property is in an area identified in the
     Federal Register by the Federal Emergency Management Agency as having
     special flood hazards, a flood insurance policy in a form meeting the
     requirements of the current guidelines of the Flood Insurance
     Administration is in effect with respect to the Mortgaged Property with a
     generally acceptable carrier in an amount representing coverage not less
     than the least of (A) the outstanding principal balance of the Mortgage
     Loan and any mortgage loan senior to that Mortgage Loan, (B) the minimum
     amount required to compensate for damage or loss on a replacement cost
     basis, or (C) the maximum amount of insurance that is available under the
     National Flood Insurance Act of 1968.

          (47) Each Mortgage Note and the related Mortgage are genuine, and
     each is the valid and legally binding obligation of its maker,
     enforceable in accordance with its terms and under applicable law, except
     that (a) its enforceability may be limited by bankruptcy, insolvency,
     moratorium, receivership, and other similar laws relating to creditors'
     rights generally and (b) the remedy of specific performance and
     injunctive and other forms of equitable relief may be subject to
     equitable defenses and to the discretion of the court before which any
     proceeding therefor may be brought. To the best of CHL's knowledge, all
     parties to the Mortgage Note and the Mortgage had legal capacity to
     execute the Mortgage Note and the Mortgage and each Mortgage Note and
     Mortgage have been duly and properly executed by such parties.

          (48) No Mortgage Loan has a shared appreciation feature, or other
     contingent interest feature.

          (49) To the best of CHL's knowledge, all of the improvements that
     were included for the purpose of determining the appraised value of the
     Mortgaged Property lie wholly within the boundaries and building
     restriction lines of the Mortgaged Property, and no improvements on
     adjoining properties encroach on the Mortgaged Property.

          (50) To the best of CHL's knowledge, all inspections, licenses, and
     certificates required to be made or issued with respect to all occupied
     portions of the Mortgaged Property and, with respect to the use and
     occupancy of the same, including certificates of occupancy and fire
     underwriting certificates, have been made or obtained from the
     appropriate authorities, unless their lack would not have a material
     adverse effect on the value of the Mortgaged Property, and the Mortgaged
     Property is lawfully occupied under applicable law.

                                      19
<PAGE>

          (51) Each Mortgage contains customary and enforceable provisions
     that render the rights and remedies of its holder adequate for the
     realization against the Mortgaged Property of the benefits of the
     security intended to be provided by it, including, (i) in the case of a
     Mortgage designated as a deed of trust, by trustee's sale, and (ii)
     otherwise by judicial foreclosure.

          (52) Before the approval of the Mortgage Loan application, an
     appraisal of the related Mortgaged Property was obtained from a qualified
     appraiser, duly appointed by the Sponsor, who had no interest, direct or
     indirect, in the Mortgaged Property or in any loan secured by the
     Mortgaged Property, and whose compensation is not affected by the
     approval or disapproval of the Mortgage Loan.

          (53) Except for (A) payments in the nature of escrow payments, and
     (B) interest accruing from the date of the Mortgage Note or date of
     disbursement of the Mortgage proceeds, whichever is later, to the day
     that precedes by one month the Due Period of the first installment of
     principal and interest and taxes and insurance payments, the Sponsor has
     not advanced funds, or induced, solicited, or knowingly received any
     advance of funds by a party other than the Mortgagor, directly or
     indirectly, for the payment of any amount required by the Mortgage.

          (54) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no foreclosure
     proceedings are pending against any Mortgaged Property and no Mortgage
     Loan is subject to any pending bankruptcy or insolvency proceeding.

          (55) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, there is no homestead
     exemption available and enforceable that materially interferes with the
     right to sell any Mortgaged Property at a trustee's sale or the right to
     foreclose the related Mortgage.

          (56) No borrower was required to purchase any single premium credit
     insurance policy (e.g., life, disability, accident, unemployment, or
     health insurance product) or debt cancellation agreement as a condition
     of obtaining the extension of credit. No borrower obtained a prepaid
     single-premium credit insurance policy (e.g., life, disability, accident,
     unemployment, mortgage, or health insurance) in connection with the
     origination of the Mortgage Loan. No proceeds from any Mortgage Loan were
     used to purchase debt cancellation agreements as part of the origination
     of, or as a condition to closing, the Mortgage Loan.

                                      20
<PAGE>

          (57) The Initial Mortgage Loans, individually and in the aggregate,
     conform in all material respects to their descriptions in the Prospectus
     Supplement.

          (58) Each Mortgage Loan represents a "qualified mortgage" within the
     meaning of Section 860(a)(3) of the Code (but without regard to the rule
     in Treasury Regulation ss. 1.860G-2(f)(2) that treats a defective
     obligation as a qualified mortgage, or any substantially similar
     successor provision).

     (b) If the substance of any representation or warranty under the Sale and
Servicing Agreement or in this Section made to the best of CHL's knowledge or
as to which a Seller has no knowledge is inaccurate and the inaccuracy
materially and adversely affects the interest of the Purchaser or its assignee
in the related Mortgage Loan, then, notwithstanding that the Seller did not
know the substance of the representation and warranty was inaccurate at the
time the representation or warranty was made, the inaccuracy shall be a breach
of the applicable representation or warranty and CHL shall cure the breach,
repurchase the Mortgage Loan, or substitute for the Mortgage Loan in
accordance with the Sale and Servicing Agreement.

     (c) The representations and warranties in this Section shall survive the
transfer and assignment of the Mortgage Loans to the Purchaser. The sole
remedy of the Purchaser, the Noteholders, the Indenture Trustee on behalf of
Noteholders against a Seller for the breach of a representation or warranty is
CHL's obligation to accept a transfer of a Mortgage Loan as to which a breach
has occurred and is continuing and to make any required deposit in the
Collection Account or to substitute an Eligible Substitute Mortgage Loan.

     (d) The Purchaser acknowledges that CHL, as Master Servicer, in its sole
discretion, may purchase for its own account from the Trust any Mortgage Loan
that is 151 days or more delinquent. The price for any Mortgage Loan purchased
shall be calculated in the same manner as in Section 3.06 of the Sale and
Servicing Agreement and shall be deposited in the Collection Account. When it
receives a certificate from the Master Servicer in the form of Exhibit D to
the Sale and Servicing Agreement, the Trust shall release to the purchaser of
the Mortgage Loan the related Mortgage File and shall execute and deliver any
instruments of transfer prepared by the purchaser of the Mortgage Loan,
without recourse, necessary to vest in the purchaser of the Mortgage Loan any
Mortgage Loan released pursuant to this Agreement, and the purchaser of the
Mortgage Loan shall succeed to all the Trust's interest in the Mortgage Loan
and all security and documents. This assignment shall be an assignment
outright and not for security. The purchaser of the Mortgage Loan shall then
own the Mortgage Loan, and all security and documents, free of any further
obligation to the Trust, the Owner Trustee, the Indenture Trustee, the
Transferor, or the Noteholders with respect to it.

                                      21
<PAGE>

                                  ARTICLE IV

                              SELLERS' COVENANTS

     Section 4.01. Covenants of the Sellers.

     Except for the transfer under this Agreement, none of the Sellers will
transfer to any other person, or create or suffer to exist any Lien on any
Mortgage Loan, or any interest in one; each Seller will notify the Indenture
Trustee of the existence of any Lien on any Mortgage Loan immediately on its
discovery; and CHL will defend the right, title, and interest of the Trust and
the Indenture Trustee in the Mortgage Loans against all claims of third
parties claiming through a Seller. Nothing in this Section shall prohibit a
Seller from suffering to exist on any of the Mortgage Loans any Liens for
municipal or other local taxes and other governmental charges if they are not
due at the time or if the applicable Seller is contesting their validity in
good faith by appropriate proceedings and set aside on its books adequate
reserves with respect to them.

                                  ARTICLE V

                                   SERVICING

     Section 5.01. Servicing.

     CHL will be the Master Servicer of the Mortgage Loans pursuant to the
Sale and Servicing Agreement.

                                  ARTICLE VI

                                 TERMINATION

     Section 6.01. Termination.

     The respective obligations of each of the Sellers and the Purchaser
created by this Agreement shall terminate when the Indenture terminates in
accordance with its terms.

                                 ARTICLE VII

                           MISCELLANEOUS PROVISIONS

     Section 7.01. Amendment.

     This Agreement may be amended from time to time by CHL, ____________ ,
and the Purchaser by written agreement signed by CHL, ____________ , and the
Purchaser.

                                      22
<PAGE>

     Section 7.02. Governing Law.

     THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS PROVISIONS THAT WOULD
RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER STATE.

     Section 7.03. Notices.

     All notices, demands, instructions, consents, and other communications
required or permitted under this Agreement shall be in writing and signed by
the party giving the same and shall be personally delivered or sent by first
class or express mail (postage prepaid), national overnight courier service,
or by facsimile transmission or other electronic communication device capable
of transmitting or creating a written record (confirmed by first class mail)
and shall be considered to be given for purposes of this Agreement on the day
that the writing is delivered when personally delivered or sent by facsimile
or overnight courier or three Business Days after it was sent to its intended
recipient if sent by first class mail. A facsimile has been delivered when the
sending machine issues an electronic confirmation of transmission. Unless
otherwise specified in a notice sent or delivered in accordance with the
provisions of this Section, notices, demands, instructions, consents, and
other communications in writing shall be given to or made on the respective
parties at their respective addresses indicated below:

                  (i)      if to CHL at:

                           Countrywide Home Loans, Inc.
                           4500 Park Granada
                           Calabasas, CA 91302
                           Ref: CWHEQ 200_-_

                  (ii)     if to ____________ at:

                           __________________

                           __________________

                           __________________
                           Ref: CWHEQ 200_-_
and

                  (iii)    if to the Purchaser at:

                           CWHEQ, Inc.
                           4500 Park Granada
                           Calabasas, CA 91302
                           Ref: CWHEQ 200_-_

                                      23
<PAGE>

     Section 7.04. Severability of Provisions.

     Any provisions of this Agreement that are held invalid for any reason or
unenforceable in any jurisdiction shall, as to that jurisdiction, be
ineffective to the extent of the invalidity or unenforceability without
invalidating the remaining provisions of this Agreement, and the prohibition
or unenforceability in a jurisdiction shall not invalidate or render
unenforceable that provision in any other jurisdiction.

     Section 7.05. Counterparts; Electronic Delivery.

     This Agreement may be executed in any number of copies, and by the
different parties on the same or separate counterparts, each of which shall be
considered to be an original instrument. Any signature page to this Agreement
containing a manual signature may be delivered by facsimile transmission or
other electronic communication device capable of transmitting or creating a
printable written record, and when so delivered shall have the effect of
delivery of an original manually signed signature page.

     Section 7.06. Further Agreements.

     The Purchaser and each Seller agree to execute and deliver to the other
any additional documents appropriate to effectuate the purposes of this
Agreement or in connection with the issuance of the Notes.

     Section 7.07. Successors and Assigns: Assignment of Purchase Agreement.

     This Agreement shall bind and inure to the benefit of and be enforceable
by each Seller, the Purchaser, the Trust, and the Indenture Trustee. The
obligations of each Seller under this Agreement cannot be assigned or
delegated to a third party without the consent of the Purchaser, except that
either Seller may assign its obligations under this Agreement to any person
into which that Seller is merged or any corporation resulting from any merger,
conversion, or consolidation to which that Seller is a party or any person
succeeding to the business of that Seller. The Purchaser is acquiring the
Mortgage Loans to further transfer them to the Trust, and the Trust will Grant
a Security Interest in them to the Indenture Trustee under the Indenture
pursuant to which the Trust will issue a series of Notes secured by the
Mortgage Loans. As an inducement to the Purchaser to purchase the Mortgage
Loans, each Seller consents to the assignment by the Purchaser to the Trust,
and by the Trust to the Indenture Trustee of all of the Purchaser's rights
against it under this Agreement insofar as they relate to the Mortgage Loans
transferred to the Trust applicable to that Seller and to the enforcement or
exercise of any right against that Seller pursuant to this Agreement by the
Indenture Trustee under the Sale and Servicing Agreement and the Indenture.
Enforcement of a right by the Indenture Trustee shall have the same effect as
if the right had been exercised by the Purchaser directly.

                                      24
<PAGE>

     Section 7.08. Survival.

     The representations and warranties in Article III shall survive the
purchase of the Mortgage Loans.

                                      25
<PAGE>

     IN WITNESS WHEREOF, the Sellers and the Purchaser have caused this
Agreement to be duly executed by their respective officers as of the day and
year first above written.

                                  CWHEQ, INC.
                                       as Purchaser

                                       By:  _______________________________
                                       Name:
                                       Title:

                                  COUNTRYWIDE HOME LOANS, INC.
                                       as a Seller

                                       By:  _______________________________
                                       Name:
                                       Title:

                                  ____________ INC.
                                       as a Seller

                                       By:  _______________________________
                                       Name:
                                       Title:

                                      26
<PAGE>

STATE OF ________________ )
                          ) ss.:
COUNTY OF _______________ )

     On the ____ day of _______, 200_ before me, a Notary Public in and for
said State, personally appeared ________________, known to me to be a
________________ of CWHEQ, Inc., the corporation that executed the within
instrument, and also known to me to be the person who executed it on behalf of
said corporation, and acknowledged to me that such corporation executed the
within instrument.

     IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

__________________
Notary Public

__________________
Commission # ________________
Notary Public - ________________
________________ County
My Comm. Expires _______, 200_.

                                      27
<PAGE>

STATE OF ________________ )
                          ) ss.:
COUNTY OF _______________ )

     On the ____ day of _______, 200_ before me, ________________ of
Countrywide Home Loans, Inc., personally appeared, personally known to me (or
proved to me on the basis of satisfactory evidence) to be the person whose
name is subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity, and that by his signature on the
instrument the person, or the entity on behalf of which the person acted,
executed the instrument.

     IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

__________________
Notary Public

__________________
Commission # ________________
Notary Public - ________________
________________ County
My Comm. Expires _______, 200_.

                                      28
<PAGE>

STATE OF ________________ )
                          ) ss.:
COUNTY OF _______________ )

         On the ____ day of _______, 200_ before me, ________________ of
____________ , personally appeared, personally known to me (or proved to me on
the basis of satisfactory evidence) to be the person whose name is subscribed
to the within instrument and acknowledged to me that he executed the same in
his authorized capacity, and that by his signature on the instrument the
person, or the entity on behalf of which the person acted, executed the
instrument.

         IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in this certificate first above written.

__________________
Notary Public

__________________
Commission # ________________
Notary Public - ________________
________________ County
My Comm. Expires _______, 200_.

                                      29
<PAGE>

                                                                    SCHEDULE I

                                  SCHEDULE OF
                                MORTGAGE LOANS

                   [Delivered to the Indenture Trustee only]

                                   Sch-I-1
<PAGE>

                                                                   SCHEDULE II

                          STANDARD & POOR'S GLOSSARY

              Standard & Poor's Predatory Lending Categorization

Standard & Poor's has categorized loans governed by anti-predatory lending
laws in the jurisdictions listed below into three categories based on a
combination of factors that include (a) the risk exposure associated with the
assignee liability and (b) the tests and thresholds set forth in those laws.
Note that certain loans classified by the relevant statute as Covered are
included in Standard & Poor's High Cost Loan category because they included
thresholds and tests that are typical of what is generally considered High
Cost by the industry.

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                    Standard & Poor's High-Cost Loan Categorization
---------------------------------------------------------------------------------------------------------------
               State/jurisdiction                         Category under applicable anti-predatory lending law
------------------------------------------------  -------------------------------------------------------------
<S>                                               <C>
Arkansas                                          High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Cleveland Heights, Ohio                           Covered Loan
------------------------------------------------  -------------------------------------------------------------
Colorado                                          Covered Loan
------------------------------------------------  -------------------------------------------------------------
Connecticut                                       High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
District of Columbia                              Covered Loan
------------------------------------------------  -------------------------------------------------------------
Florida                                           High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Georgia (Oct. 1, 2002 - March 6, 2003)            High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Georgia as amended (March 7, 2003 - current)      High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
HOEPA Section 32                                  High Cost Loan
------------------------------------------------  -------------------------------------------------------------
Illinois                                          High Risk Home Loan
------------------------------------------------  -------------------------------------------------------------
Kansas                                            High Loan-to-Value Consumer Loans and High APR Consumer Loans
------------------------------------------------  -------------------------------------------------------------
Kentucky                                          High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Los Angeles, Calif.                               High Cost Refinance Home Loan
------------------------------------------------  -------------------------------------------------------------
Maine                                             High Rate High Fee mortgage
------------------------------------------------  -------------------------------------------------------------
Massachusetts                                     High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Nevada                                            Home Loan
------------------------------------------------  -------------------------------------------------------------
New Jersey                                        High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
New York                                          High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
New Mexico                                        High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
North Carolina                                    High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Oakland, Calif.                                   High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Ohio                                              Covered Loan
------------------------------------------------  -------------------------------------------------------------
Oklahoma                                          Subsection 10 Mortgage
------------------------------------------------  -------------------------------------------------------------
South Carolina                                    High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
West Virginia                                     West Virginia Mortgage Loan Act Loan
---------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                     Standard & Poor's Covered Loan Categorization
---------------------------------------------------------------------------------------------------------------
               State/jurisdiction                         Category under applicable anti-predatory lending law
------------------------------------------------  -------------------------------------------------------------
<S>                                               <C>
Georgia (Oct. 1, 2002 - March 6, 2003)            Covered Loan
------------------------------------------------  -------------------------------------------------------------
New Jersey                                        Covered Home Loan
---------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Sch-II-1
<PAGE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                      Standard & Poor's Home Loan Categorization
---------------------------------------------------------------------------------------------------------------
               State/jurisdiction                         Category under applicable anti-predatory lending law
------------------------------------------------  -------------------------------------------------------------
<S>                                               <C>
Georgia (Oct. 1, 2002- March 6, 2003)             Home Loan
------------------------------------------------  -------------------------------------------------------------
New Jersey                                        Home Loan
------------------------------------------------  -------------------------------------------------------------
New Mexico                                        Home Loan
------------------------------------------------  -------------------------------------------------------------
North Carolina                                    Consumer Home Loan
------------------------------------------------  -------------------------------------------------------------
Oakland, Calif.                                   Home Loan
------------------------------------------------  -------------------------------------------------------------
South Carolina                                    Consumer Home Loan
---------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Sch-II-2
<PAGE>

                                                                       ANNEX 1

                                ADOPTION ANNEX

     The purchase price for the Mortgage Loans pursuant to Section 2.03 is the
transfer to each of the Sellers on the Closing Date of the Transferor
Certificates and the proceeds from the sale of the Notes, each by its
respective portion.

     The items referred to in the representations and warranties in Section
3.02 are:

     (12) _.__% of the Mortgage Loans being transferred on the relevant date
(by Cut-off Date Loan Balance) were 30-59 days delinquent (measured on a
contractual basis).

     (18) As of the Cut-off Date no more than _.__% of the Mortgage Loans, by
aggregate principal balance, are secured by Mortgaged Properties located in
one United States postal zip code.

     (19) The Combined Loan-to-Value Ratio for each Mortgage Loan was not in
excess of 100.00%.

     (30) The weighted average remaining term to maturity of the Mortgage
Loans on a contractual basis as of the Cut-off Date is approximately ___. The
Loan Rate Caps for the Mortgage Loans range between _.__% and _.__%, and the
weighted average Loan Rate Cap is approximately _.__%. The Gross Margins for
the Mortgage Loans range between _.__% and _.__%, and the weighted average
Gross Margin is approximately _.__% as of the Cut-off Date. The Loan Rates on
the Mortgage Loans range between _.__% and _.__%, and the weighted average
Loan Rate on the Mortgage Loans is approximately _.__%.

     (32) No more than _.__% (by Cut-off Date Loan Balance) of the Mortgage
Loans are secured by real property improved by individual condominium units,
units in planned unit developments, townhouses, or two-to-four family
residences erected on them, and at least 61.36% (by Cut-off Date Loan Balance)
of the Mortgage Loans are secured by real property with a detached one-family
residence erected on them.

     (33) The Credit Limits on the Mortgage Loans range between approximately
$6,590 and $___________ with an average of approximately $_______. As of the
Cut-off Date, no Mortgage Loan had a principal balance in excess of
approximately $____________ and the average principal balance of the Mortgage
Loans is equal to approximately $________.

     (34) Approximately _.__% of the Mortgage Loans, by aggregate principal
balance as of the Cut-off Date for the Mortgage Loans, are secured by second
liens.

     (35) As of the Closing Date, no more than _.__% of the Mortgage Loans, by
aggregate principal balance, were appraised electronically.

                                   Ann-1-1
<PAGE>

     (40) As of the Cut-off Date (based on the drawn balances), the Mortgage
Loans had a weighted average Combined Loan-to-Value Ratio of _.__%; a range of
Loan-to-Value Ratios between _.__% and _.__%; a percentage of primary
residences of _.__%; a weighted average FICO score of ___; a range of FICO
scores between ___ and ___; a Weighted Average Net Loan Rate of _.__%; a range
of net Loan Rates between _.__% and _.__%; a weighted average original stated
term to maturity of ___ months; a range of original term to maturity between
___ and ___ months; a range of remaining term to maturity between ___ and ___
months; an average drawn balance of $________; an average utilization ratio of
_.__%; and _.__%of the Mortgage Loans have their respective Mortgaged
Properties located in the top five states, measured by aggregate drawn
balances.

                                   Ann-1-2EXHIBIT 10.3

==============================================================================

                         COUNTRYWIDE HOME LOANS, INC.
                                   a Seller

                      __________________________________
                                   a Seller

                                  CWHEQ, INC.
                                   Purchaser

                      ----------------------------------
                              PURCHASE AGREEMENT
                           Dated as of _______, 200_
                      ----------------------------------

                REVOLVING HOME EQUITY LOAN ASSET BACKED NOTES,
                                 Series 200_-_

==============================================================================

<PAGE>

                               Table of Contents

                                                                          Page
                                                                          ----

                                   ARTICLE I
                                  DEFINITIONS

Section 1.01.         Definitions............................................1

                                  ARTICLE II
               SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE

Section 2.01.         Sale of the Mortgage Loans.............................2
Section 2.02.         Obligations of Sellers Upon Sale.......................3
Section 2.03.         Payment of Purchase Price for the Mortgage Loans.......6

                                  ARTICLE III
              REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH

Section 3.01.         Seller Representations and Warranties..................7
Section 3.02.         Seller Representations and Warranties Relating
                      to the Mortgage Loans..................................9

                                  ARTICLE IV
                              SELLERS' COVENANTS

Section 4.01.         Covenants of the Sellers..............................22

                                   ARTICLE V
                                   SERVICING

Section 5.01.         Servicing.............................................22

                                  ARTICLE VI
                                  TERMINATION

Section 6.01.         Termination...........................................22

                                  ARTICLE VII
                           MISCELLANEOUS PROVISIONS

Section 7.01.         Amendment.............................................22
Section 7.02.         Governing Law.........................................23
Section 7.03.         Notices...............................................23
Section 7.04.         Severability of Provisions............................24
Section 7.05.         Counterparts; Electronic Delivery.....................24

                                      i
<PAGE>

Section 7.06.         Further Agreements....................................24
Section 7.07.         Successors and Assigns: Assignment of Purchase
                      Agreement.............................................24
Section 7.08.         Survival..............................................25

SCHEDULES AND ANNEXES

Schedule I            MORTGAGE LOAN SCHEDULE...........................Sch-I-1
Schedule II           STANDARD & POOR'S GLOSSARY......................Sch-II-1
Annex 1               ADOPTION ANNEX...................................Ann-1-1

                                      ii
<PAGE>

                                                                  EXHIBIT 10.3

     This PURCHASE AGREEMENT, dated as of _______, 200_ (the "Agreement"),
between COUNTRYWIDE HOME LOANS, INC., a New York corporation, as a seller
("CHL" or a "Seller"), ________________, a ________________ corporation, as a
seller ("[SELLER NAME]" or a "Seller," and together with CHL, the "Sellers"),
and CWHEQ, INC., a Delaware corporation (the "Purchaser"),

                                  WITNESSETH:

     WHEREAS, each Seller is the owner of the applicable notes or other
evidence of indebtedness indicated on Schedule I as owned by that Seller, and
certain other notes or other evidence of indebtedness made or to be made in
the future, and Related Documentation; and

     WHEREAS, by the date of their transfer, each Seller will own the
mortgages on the properties securing the Mortgage Loans indicated on Schedule
I as owned by that Seller, including rights to (a) any property acquired by
foreclosure or deed in lieu of foreclosure or otherwise and (b) the proceeds
of any hazard insurance policies on the Mortgaged Properties; and

     WHEREAS, each Seller wants to sell its Mortgage Loans to the Purchaser
pursuant to this Agreement; and

     WHEREAS, pursuant to the Sale and Servicing Agreement, of even date with
this Agreement (the "Sale and Servicing Agreement"), among the Purchaser, as
depositor, CHL, as sponsor and master servicer, the Trust, and the Indenture
Trustee, the Purchaser will transfer the Mortgage Loans to the Trust;

     NOW, THEREFORE, the parties agree as follows.

                                  ARTICLE I

                                  DEFINITIONS

     Section 1.01. Definitions.

     Capitalized terms used in this Agreement that are not otherwise defined
have the meanings given to them in the Indenture, and if not defined there, in
the Sale and Servicing Agreement. In addition, Section 1.04 (Rules of
Construction) of the Indenture is incorporated by reference with appropriate
substitution of this Agreement for references in that Section to the Indenture
so that the language of that Section will read appropriately as applying to
this Agreement.

<PAGE>

                                  ARTICLE II

               SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE

     Section 2.01. Sale of the Mortgage Loans.

     (a) The Initial Mortgage Loans. Concurrently with the execution and
delivery of this Agreement, CHL, with respect to each Initial Mortgage Loan it
owns as indicated on Schedule I, hereby transfers to the Purchaser, without
recourse, all of its right, title, and interest existing now or in the future
in

          (1) that Mortgage Loan, including its Asset Balance (including all
     Additional Balances), the related Mortgage File, all property that
     secures that Mortgage Loan, and all collections received on it after the
     Cut-off Date (excluding payments due by the Cut-off Date);

          (2) property that secured that Mortgage Loan that is acquired by
     foreclosure or deed in lieu of foreclosure;

          (3) its rights under the hazard insurance policies related to the
     mortgages that secure the Mortgage Loans;

          (4) all rights under any guaranty executed in connection with that
     Mortgage Loan; (5) all other assets included or to be included in the
     Trust for the benefit of the Noteholders; and

          (6) all proceeds of the foregoing.

     ____________ , with respect to each Initial Mortgage Loan it owns as
indicated on Schedule I, hereby transfers to the Purchaser, without recourse,
all of its right, title, and interest existing now or in the future in

          (1) that Mortgage Loan, including its Asset Balance (including all
     Additional Balances), the related Mortgage File, all property that
     secures that Mortgage Loan, and all collections received on it after the
     Cut-off Date (excluding payments due by the Cut-off Date);

          (2) property that secured that Mortgage Loan that is acquired by
     foreclosure or deed in lieu of foreclosure;

          (3) its rights under the hazard insurance policies related to the
     mortgages that secure the Mortgage Loans;

          (4) all rights under any guaranty executed in connection with that
     Mortgage Loan;

                                      2
<PAGE>

          (5) all other assets included or to be included in the Trust for the
     benefit of the Noteholders; and

          (6) all proceeds of the foregoing.

     The Additional Home Equity Loans. The Purchaser may use the funds in each
Additional Loan Account to purchase Additional Home Equity Loans on any
Subsequent Closing Date designated by the Purchaser by the Latest Subsequent
Closing Date. On each Subsequent Closing Date, each Seller shall deliver a
Transfer Document (properly completed and executed by the Seller) to the
Purchaser. When each Seller delivers a Transfer Document, that Seller hereby
transfers to the Purchaser without recourse, and the Purchaser purchases and
shall effect payment for, all of its right, title, and interest in each
Additional Home Equity Loan identified in the Transfer Document, including its
Asset Balance (including all Additional Balances) and all collections received
on it after the relevant Subsequent Cut-off Date (excluding payments due by
the Subsequent Cut-off Date) and all proceeds of the foregoing.

     (b) By the sale of a Mortgage Loan and its Additional Balances, each
Seller has sold to the Purchaser, and the Purchaser has purchased from each
Seller, each future draw of new borrowing under the related Credit Line
Agreement. The Purchaser shall pay the applicable Seller for each Additional
Balance in cash in an amount equal to the principal amount of the Additional
Balance as it arises. The Trust, the applicable Seller, and the Purchaser may
agree to a netting arrangement in connection with this transaction, when
appropriate, rather than actually moving cash.

     Section 2.02. Obligations of Sellers Upon Sale.

     In connection with the transfers pursuant to Section 2.01(a), each Seller
further agrees, at its own expense:

     (a) to deliver to the Purchaser by the Closing Date a Mortgage Loan
Schedule containing an accurate list of all Initial Mortgage Loans sold by it,
specifying for each Initial Mortgage Loan, among other things, its account
number and its Cut-off Date Asset Balance;

     (b) to indicate in its books and records that the applicable Mortgage
Loans have been sold to the Indenture Trustee, as assignee of the Purchaser,
pursuant to this Agreement by the Closing Date for the Initial Mortgage Loans,
and by each Subsequent Closing Date for the related Additional Home Equity
Loans;

     (c) to deliver to the Purchaser, or at the Purchaser's direction to the
Indenture Trustee and the Owner Trustee an Officer's Certificate confirming
the satisfaction of each of the conditions precedent in Section 2.01(b) of the
Sale and Servicing Agreement by each Subsequent Closing Date; and

                                      3
<PAGE>

     (d) to deliver to the Purchaser, or at the Purchaser's direction to the
Indenture Trustee, a revised Mortgage Loan Schedule reflecting the addition of
the Additional Home Equity Loans within 15 days following each Subsequent
Closing Date.

     The Initial Mortgage Loan Schedule containing the Mortgage Loans sold by
both Sellers is Exhibit A to the Sale and Servicing Agreement and shall also
be attached as Schedule I to this Agreement and is hereby incorporated into
this Agreement.

     Each Seller agrees to perfect and protect the Purchaser's interest in
each Mortgage Loan transferred by it pursuant to Section 2.01(a) and its
proceeds by preparing, executing, and filing a UCC1 Financing Statement with
the Secretary of State in the State of New York or the Secretary of State in
the State of Delaware, as applicable, describing the Mortgage Loans and naming
the applicable Seller as debtor and the Purchaser as secured party and
indicating that the Mortgage Loans have been assigned to the Trust and all
necessary Continuation Statements and any additional UCC1 Financing Statements
due to a change in the name or the state of incorporation of that Seller. The
Financing Statement shall be filed by the Closing Date. This Financing
Statement will state in bold-faced type that a purchase of the Mortgage Loans
included in the collateral covered by the Financing Statement from the debtor
will violate the rights of the secured party and its assignee.

     The Purchaser agrees to perfect and protect the Trust's interest in each
Mortgage Loan and its proceeds by preparing, executing, and filing a UCC1
Financing Statement with the Secretary of State in the State of Delaware
describing the Mortgage Loans and naming the Purchaser as debtor and the Trust
as secured party (and indicating that the Mortgage Loans have been pledged to
the Indenture Trustee) and all necessary Continuation Statements and any
additional UCC1 Financing Statements due to a change in the name or the state
of incorporation of the Purchaser. The Financing Statement shall be filed by
the Closing Date. This Financing Statement will state in bold-faced type that
a purchase of the Mortgage Loans included in the collateral covered by the
Financing Statement from the debtor will violate the rights of the secured
party and its assignee.

     In connection with any transfer by a Seller, it shall deliver to the
order of the Purchaser the following documents for each Mortgage Loan
transferred by that Seller (the "Related Documentation"):

          (1) the original Mortgage Note endorsed in blank or, if the original
     Mortgage Note has been lost or destroyed and not replaced, an original
     lost note affidavit from the Sponsor stating that the original Mortgage
     Note was lost, misplaced, or destroyed, together with a copy of the
     related Mortgage Note;

          (2) unless the Mortgage Loan is registered on the MERS(R) System, an
     original assignment of mortgage in blank in recordable form;

                                      4
<PAGE>

          (3) the original recorded mortgage with evidence of recording on it
     (noting the presence of the MIN of the Mortgage Loan and language
     indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a
     MOM Loan) or, if the original recorded mortgage with evidence of
     recording on it cannot be delivered by the Closing Date because of a
     delay caused by the public recording office where the original Mortgage
     has been delivered for recordation or because the original Mortgage has
     been lost, the Sponsor shall deliver to the Indenture Trustee an accurate
     copy of the mortgage, together with (i) when the delay is caused by the
     public recording office, an Officer's Certificate of the Sponsor or the
     Purchaser stating that the original mortgage has been dispatched to the
     appropriate public recording official or (ii) when the original mortgage
     has been lost, a certificate by the appropriate county recording office
     where the mortgage is recorded;

          (4) any original intervening assignments needed for a complete chain
     of title to the Trust with evidence of recording on them, or, if any
     original intervening assignment has not been returned from the applicable
     recording office or has been lost, an accurate copy of it, together with
     (i) when the delay is caused by the public recording office, an Officer's
     Certificate of the Sponsor or the Purchaser stating that the original
     intervening assignment has been dispatched to the appropriate public
     recording official for recordation or (ii) when the original intervening
     assignment has been lost, a certificate by the appropriate county
     recording office where the mortgage is recorded;

          (5) a title policy for each Mortgage Loan with a Credit Limit in
     excess of $100,000;

          (6) the original of any guaranty executed in connection with the
     Mortgage Note;

          (7) the original of each assumption, modification, consolidation, or
     substitution agreement relating to the Mortgage Loan; and

          (8) any security agreement, chattel mortgage, or equivalent
     instrument executed in connection with the Mortgage.

     The Related Documentation for the Initial Mortgage Loans will be
delivered:

          (1) no later than the Closing Date, with respect to no less than 50%
     of the Initial Mortgage Loans,

          (2) no later than the twentieth day after the Closing Date, with
     respect to no less than 40% of the Initial Mortgage Loans in addition to
     those delivered on the Closing Date, and

          (3) within thirty days following the Closing Date, with respect to
     the remaining Initial Mortgage Loans.

                                      5
<PAGE>

     The Related Documentation for the Additional Home Equity Loans will be
delivered:

     (1) no later than relevant Subsequent Closing Date, with respect to no
less than 10% of the relevant Additional Home Equity Loans; and

     (2) within twenty days following the relevant Subsequent Closing Date,
with respect to the remaining relevant Additional Home Equity Loans.

     Each Seller confirms to the Purchaser that, as of the Closing Date, it
has caused the portions of the Electronic Ledger relating to the Initial
Mortgage Loans maintained by that Seller to be clearly and unambiguously
marked to indicate that the Initial Mortgage Loans have been sold to the
Purchaser, and sold by the Purchaser to the Trust, and Granted by the Trust to
the Indenture Trustee, and that a purchase of those Mortgage Loans from that
Seller or the Purchaser will violate the rights of the Trust, as secured party
with respect to those Mortgage Loans. By the relevant Subsequent Closing Date
or the applicable date of substitution, as applicable, CHL shall cause the
portions of the Electronic Ledgers relating to the relevant Additional Home
Equity Loans or Eligible Substitute Mortgage Loans, as the case may be, to be
clearly and unambiguously marked, and shall make appropriate entries in its
general accounting records, to indicate that those Mortgage Loans have been
transferred to the Trust at the direction of the Purchaser and that they have
been Granted by the Trust to the Indenture Trustee, and that a purchase of the
Mortgage Loans from CHL or the Purchaser will violate the rights of the Trust,
as secured party with respect to those Mortgage Loans.

     The Purchaser accepts all right, title, and interest of each of the
Sellers existing now or in the future in the Mortgage Loans and other property
transferred to it pursuant to this Section.

     Notwithstanding the characterization of the Notes as debt for federal,
state, and local income and franchise tax purposes, the transfer of the
Mortgage Loans is a sale by each Seller to the Purchaser of all its interest
in the applicable Mortgage Loans and other property described above. However,
to provide for the possibility that either transfer might be characterized as
a transfer for security and not as a sale, each Seller hereby grants to the
Purchaser a Security Interest in all of its right, title, and interest in the
applicable Mortgage Loans and other property described above, whether existing
now or in the future, to secure all of that its obligations under this
Agreement; and this Agreement shall constitute a Security Agreement under
applicable law.

     Section 2.03. Payment of Purchase Price for the Mortgage Loans.

     (a) In consideration of the sale of the Initial Mortgage Loans from each
of the Sellers to the Purchaser on the Closing Date, the Purchaser agrees to
transfer to the applicable Seller on the Closing Date the purchase price for
the applicable Initial Mortgage Loans provided in the Adoption Annex attached
as Annex 1 to this Agreement (the "Adoption Annex").

                                      6
<PAGE>

     (b) In consideration of the sale of the Additional Home Equity Loans from
the Seller to the Purchaser on each Subsequent Closing Date, the Purchaser
agrees to cause the Trust to pay to the Seller, when the conditions to the
release of the purchase price for the Additional Home Equity Loans under the
Sale and Servicing Agreement have been met, an amount equal to their Cut-off
Date Asset Balance.

                                 ARTICLE III

              REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH

     Section 3.01. Sellers Representations and Warranties.

     (a) CHL represents and warrants to the Purchaser as of the Closing Date:

          (1) CHL is a New York corporation, validly existing and in good
     standing under the laws of the State of New York, and has the corporate
     power to own its assets and to transact the business in which it is
     currently engaged. CHL is duly qualified to do business as a foreign
     corporation and is in good standing in each jurisdiction in which the
     character of the business transacted by it or any properties owned or
     leased by it requires such qualification and in which the failure so to
     qualify would have a material adverse effect on the business, properties,
     assets, or condition (financial or other) of CHL;

          (2) CHL has the power and authority to make, execute, deliver, and
     perform this Agreement and all of the transactions contemplated by this
     Agreement, and has taken all necessary corporate action to authorize the
     execution, delivery, and performance of this Agreement. When executed and
     delivered, this Agreement will constitute the valid and legally binding
     obligation of CHL enforceable in accordance with its terms;

          (3) CHL is not required to obtain the consent of any other party or
     any consent, license, approval or authorization from, or registration or
     declaration with, any governmental authority, bureau, or agency in
     connection with the execution, delivery, performance, validity, or
     enforceability of this Agreement, except for any consents, licenses,
     approvals or authorizations, or registrations or declarations, that have
     been obtained or filed, as the case may be, before the Closing Date;

          (4) The execution, delivery, and performance of this Agreement by
     the Seller will not violate any provision of any existing law or
     regulation or any order or decree of any court applicable to the Seller
     or any provision of the certificate of incorporation or bylaws of CHL, or
     constitute a material breach of any mortgage,

                                      7
<PAGE>

     indenture, contract, or other agreement to which CHL is a party or by
     which CHL may be bound; and

          (5) No litigation or administrative proceeding of or before any
     court, tribunal, or governmental body is currently pending, or to the
     knowledge of CHL threatened, against CHL or any of its properties or with
     respect to this Agreement or the Notes that in the opinion of CHL has a
     reasonable likelihood of resulting in a material adverse effect on the
     transactions contemplated by this Agreement.

          (6) The representations in Section 3.01(b) are true.

     (b) ____________ represents and warrants to the Purchaser as of the
Closing Date:

          (1) ____________ is a Delaware corporation, validly existing and in
     good standing under the laws of the State of Delaware, and has the
     corporate power to own its assets and to transact the business in which
     it is currently engaged. ____________ is duly qualified to do business as
     a foreign corporation and is in good standing in each jurisdiction in
     which the character of the business transacted by it or any properties
     owned or leased by it requires such qualification and in which the
     failure so to qualify would have a material adverse effect on the
     business, properties, assets, or condition (financial or other) of
     ____________.

          (2) ____________ has the power and authority to make, execute,
     deliver, and perform this Agreement and all of the transactions
     contemplated by this Agreement, and has taken all necessary corporate
     action to authorize the execution, delivery, and performance of this
     Agreement. When executed and delivered, this Agreement will constitute
     the valid and legally binding obligation of ____________ enforceable in
     accordance with its terms;

          (3) ____________ is not required to obtain the consent of any other
     party or any consent, license, approval or authorization from, or
     registration or declaration with, any governmental authority, bureau, or
     agency in connection with the execution, delivery, performance, validity,
     or enforceability of this Agreement, except for any consents, licenses,
     approvals or authorizations, or registrations or declarations, that have
     been obtained or filed, as the case may be, before the Closing Date;

          (4) The execution, delivery, and performance of this Agreement by
     ____________ will not violate any provision of any existing law or
     regulation or any order or decree of any court applicable to ____________
     or any provision of the certificate of incorporation or bylaws of
     ____________ , or constitute a material breach of any mortgage,
     indenture, contract, or other agreement to which ____________ is a party
     or by which ____________ may be bound; and

                                      8
<PAGE>

          (5) No litigation or administrative proceeding of or before any
     court, tribunal, or governmental body is currently pending, or to the
     knowledge of ____________ threatened, against ____________ or any of its
     properties or with respect to this Agreement or the Notes that in the
     opinion of ____________ has a reasonable likelihood of resulting in a
     material adverse effect on the transactions contemplated by this
     Agreement.

     (c) The representations and warranties in this Section 3.01 shall survive
the transfer of the Mortgage Loans to the Purchaser. CHL shall cure a breach
of any of the representations and warranties of CHL and ____________ in
accordance with the Sale and Servicing Agreement. The remedy specified in the
Sale and Servicing Agreement shall constitute the sole remedy against a Seller
with respect to any breach.

     Section 3.02. Seller Representations and Warranties Relating to the
Mortgage Loans.

     (a) CHL represents and warrants to the Purchaser as of the Cut-off Date,
unless specifically stated otherwise:

          (1) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, this Agreement
     constitutes a valid and legally binding obligation of CHL, enforceable
     against CHL in accordance with its terms.

          (2) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, either

               (A) this Agreement constitutes a valid transfer to the
          Purchaser of all right, title, and interest of each of the Sellers
          in the applicable Mortgage Loans, and all collections received in
          respect of the applicable Mortgage Loans after the Cut-off Date or
          Subsequent Cut-off Date, as applicable (excluding payments due by
          the Cut-off Date or Subsequent Cut-off Date, as applicable), all
          proceeds of the applicable Mortgage Loans, and all other property
          specified in Section 2.01(a) or (b), and the Sale and Servicing
          Agreement constitutes a valid transfer to the Trust of the foregoing
          property and all other property specified in Section 2.01(a) or (b)
          of the Sale and Servicing Agreement such that, on execution of the
          Sale and Servicing Agreement, it is owned by the Trust free of all
          liens and other encumbrances, and is part of the corpus of the Trust
          transferred to the Trust by the Purchaser, and upon payment for the

                                      9
<PAGE>

          Additional Balances, this Agreement and the Sale and Servicing
          Agreement will constitute a valid transfer to the Trust of all
          interest of each of the Sellers in the Additional Balances, all
          proceeds of the Additional Balances, and all other property
          specified in Section 2.01(a) of the Sale and Servicing Agreement
          relating to the Additional Balances free of all liens and other
          encumbrances, and the Indenture constitutes a valid Grant of a
          Security Interest to the Indenture Trustee in that property, and the
          Indenture Trustee has a first priority perfected Security Interest
          in the property, subject to the effect of Section 9-315 of the UCC
          with respect to collections on the Mortgage Loans that are deposited
          in the Collection Account in accordance with the next to last
          paragraph of Section 3.02(b) of the Sale and Servicing Agreement, or

               (B) this Agreement or the Sale and Servicing Agreement, as
          appropriate, constitutes a Grant of a Security Interest to the Owner
          Trustee on behalf of the Trust and the Indenture constitutes a Grant
          of a Security Interest to the Indenture Trustee in the property
          described in clause (A) above. If this Agreement and the Sale and
          Servicing Agreement constitute the Grant of a Security Interest to
          the Trust and the Indenture constitutes a Grant of a Security
          Interest to the Indenture Trustee in such property, the Indenture
          Trustee will have a first priority perfected Security Interest in
          the property, subject to the effect of Section 9-315 of the UCC with
          respect to collections on the Mortgage Loans that are deposited in
          the Collection Account in accordance with the next to last paragraph
          of Section 3.02(b) of the Sale and Servicing Agreement. This
          Security Interest is enforceable as such against creditors of and
          purchasers from the Trust, the Purchaser, and each of the Sellers.

          (3) CHL has not authorized the filing of and is not aware of any
     financing statements against either Seller that include a description of
     collateral covering the Collateral other than any financing statement (A)
     relating to the Security Interests granted to the Depositor, the Trust,
     or the Indenture Trustee under this Agreement, pursuant to the Sale and
     Servicing Agreement, or pursuant to the Indenture, (B) that has been
     terminated, or (C) that names the Depositor, the Trust, or the Indenture
     Trustee as secured party.

          (4) As of the Closing Date, the information in the Mortgage Loan
     Schedule for the Initial Mortgage Loans is correct in all material
     respects. As of the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, the information in the Mortgage Loan
     Schedule for the relevant Additional Home Equity is correct in all
     material respects. As of the applicable date of substitution for an
     Eligible Substitute Mortgage Loan, the information with respect to the
     Eligible Substitute

                                      10
<PAGE>

     Mortgage Loan in the Mortgage Loan Schedule is correct in all material
     respects. As of the date any Additional Balance is created, the
     information as to the Mortgage Loan identification number and the
     Additional Balance of that Mortgage Loan reported for inclusion in the
     Mortgage Loan Schedule is correct in all material respects.

          (5) The applicable Mortgage Loans have not been assigned or pledged,
     and the related Seller is their sole owner and holder free of any liens,
     claims, encumbrances, participation interests, equities, pledges,
     charges, or Security Interests of any nature, and has full authority,
     under all governmental and regulatory bodies having jurisdiction over the
     ownership of the applicable Mortgage Loans, to transfer them pursuant to
     this Agreement.

          (6) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the related Mortgage
     Note and the mortgage for each Mortgage Loan have not been assigned or
     pledged, and immediately before the sale of the Mortgage Loans to the
     Purchaser, the related Seller was the sole owner and holder of the
     Mortgage Loan free of any liens, claims, encumbrances, participation
     interests, equities, pledges, charges, or Security Interests of any
     nature, and has full authority, under all governmental and regulatory
     bodies having jurisdiction over the ownership of the applicable Mortgage
     Loans, to transfer it pursuant to this Agreement.

          (7) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the related mortgage is
     a valid and subsisting first lien on the property described in it, as
     shown on the Mortgage Loan Schedule with respect to each related Mortgage
     Loan, and as of the Cut-off Date, relevant Subsequent Closing Date, or
     date of substitution, as applicable, the related Mortgaged Property is
     free of all encumbrances and liens having priority over the first lien of
     the mortgage except for liens for

               (A) real estate taxes and special assessments not yet
          delinquent;

               (B) covenants, conditions and restrictions, rights of way,
          easements, and other matters of public record as of the date of
          recording that are acceptable to mortgage lending institutions
          generally; and

               (C) other matters to which like properties are commonly subject
          that do not materially interfere with the benefits of the security
          intended to be provided by the mortgage.

          (8) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans,

                                      11
<PAGE>

     or the applicable date of substitution with respect to any Eligible
     Substitute Mortgage Loan, no obligor has a valid offset, defense, or
     counterclaim under any Credit Line Agreement or mortgage.

          (9) To the best knowledge of CHL, as of the Closing Date with
     respect to the Initial Mortgage Loans, the relevant Subsequent Closing
     Date with respect to any Additional Home Equity Loans, or the applicable
     date of substitution with respect to any Eligible Substitute Mortgage
     Loan, no related Mortgaged Property has any delinquent recording or other
     tax or fee or assessment lien or governmental charge against it, other
     than those that have been or will be paid by the Seller.

          (10) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no proceeding is
     pending or, to the best knowledge of CHL, threatened for the total or
     partial condemnation of the related Mortgaged Property, and the property
     is free of material damage and is in good repair.

          (11) To the best knowledge of CHL, as of the Closing Date with
     respect to the Initial Mortgage Loans, the relevant Subsequent Closing
     Date with respect to any Additional Home Equity Loans, or the applicable
     date of substitution with respect to any Eligible Substitute Mortgage
     Loan, no mechanics' or similar liens or claims have been filed for work,
     labor, or material affecting the related Mortgaged Property that are, or
     may be, liens prior or equal to the lien of the related mortgage, except
     liens that are fully insured against by the title insurance policy
     referred to in clause (16).

          (12) No Minimum Monthly Payment on an Initial Mortgage Loan being
     transferred on the Closing Date is more than 59 days delinquent (measured
     on a contractual basis) and no Minimum Monthly Payment on any other
     Mortgage Loan subsequently being transferred is more than 30 days
     delinquent (measured on a contractual basis) on the relevant transfer
     date and no more than the applicable percentage specified in the Adoption
     Annex of the Initial Mortgage Loans being transferred on the Closing Date
     (by Cut-off Date Loan Balance) were 30-59 days delinquent (measured on a
     contractual basis).

          (13) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the Mortgage File for
     each Mortgage Loan contains each of the documents specified to be
     included in it.

          (14) At origination, each Mortgage Loan and the related Mortgage
     Note complied in all material respects with applicable local, state, and
     federal laws, including

                                      12
<PAGE>

     all applicable predatory and abusive lending laws, usury,
     truth-in-lending, real estate settlement procedures, consumer credit
     protection, equal credit opportunity, or disclosure laws applicable to
     the Mortgage Loan, and the servicing practices used by the Master
     Servicer with respect to each Mortgage Loan have been consistent with the
     practices and the degree of skill and care the Master Servicer exercises
     in servicing for itself loans that it owns that are comparable to the
     Mortgage Loans.

          (15) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no Mortgage Loan is a
     High Cost Loan or Covered Loan, as applicable, and no Mortgage Loan
     originated on or after October 1, 2002 through March 6, 2003 is governed
     by the Georgia Fair Lending Act; and "High Cost Loan" and "Covered Loan"
     have the meaning assigned to them in the Standard & Poor's LEVELS(R)
     Glossary attached as Schedule II (the "Glossary") where

               (x) a "High Cost Loan" is each loan identified in the column
          "Category under applicable anti-predatory lending law" of the table
          entitled "Standard & Poor's High Cost Loan Categorization" in the
          Glossary as each such loan is defined in the applicable
          anti-predatory lending law of the state or jurisdiction specified in
          such table and

               (y) "Covered Loan" is each loan identified in the column
          "Category under applicable anti-predatory lending law" of the table
          entitled "Standard & Poor's Covered Loan Categorization" in the
          Glossary as each such loan is defined in the applicable
          anti-predatory lending law of the state or jurisdiction specified in
          such table.

          (16) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, either a lender's title
     insurance policy or binder was issued or a guaranty of title customary in
     the relevant jurisdiction was obtained, on the date of origination of the
     Mortgage Loan being transferred on the relevant date and each policy is
     valid and remains in full force.

          (17) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, none of the Mortgaged
     Properties is a mobile home or a manufactured housing unit that is not
     considered or classified as part of the real estate under the laws of the
     jurisdiction in which it is located.

                                      13
<PAGE>

          (18) No more than the percentage specified in the Adoption Annex of
     the Initial Mortgage Loans, by aggregate principal balance of the related
     Mortgage Loans, are secured by Mortgaged Properties located in one United
     States postal zip code.

          (19) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the Loan-to-Value Ratio
     for each Mortgage Loan was not in excess of the percentage specified in
     the Adoption Annex.

          (20) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no selection procedure
     reasonably believed by CHL to be adverse to the interests of the
     Transferor or the Noteholders was used in selecting the Mortgage Loans.

          (21) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, neither Seller has
     transferred the Mortgage Loans to the Trust with any intent to hinder,
     delay, or defraud any of its creditors.

          (22) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the Minimum Monthly
     Payment with respect to any Mortgage Loan is not less than the interest
     accrued at the applicable Loan Rate on the average daily Asset Balance
     during the interest period relating to the date on which the Minimum
     Monthly Payment is due.

          (23) The Mortgage Notes constitute either "instruments" or "general
     intangibles" as defined in the UCC.

          (24) By the Closing Date with respect to the Initial Mortgage Loans,
     the relevant Subsequent Closing Date with respect to any Additional Home
     Equity Loans, or within 30 days of the applicable date of substitution
     with respect to any Eligible Substitute Mortgage Loan, the Sponsor will
     file UCC1 financing statements in the proper filing office in the
     appropriate jurisdiction to perfect the Security Interest in the
     Collateral Granted under the Indenture.

          (25) The Mortgage Notes that constitute or evidence the Collateral
     do not have any marks or notations indicating that they have been
     pledged, assigned, or otherwise transferred to any person other than the
     Purchaser, the Trust, or the Indenture Trustee. All financing statements
     filed or to be filed against each Seller in favor of the

                                      14
<PAGE>

     Purchaser, the Trust, or the Indenture Trustee in connection with this
     Agreement, the Sale and Servicing Agreement, or the Indenture describing
     the Collateral contain a statement to the following effect: "A purchase
     of the Mortgage Loans included in the collateral covered by this
     financing statement will violate the rights of the Purchaser, the Trust,
     or the Indenture Trustee."

          (26) As of the Closing Date, CHL and ____________ will have received
     a written acknowledgement from the Custodian that is acting solely as
     agent of the Indenture Trustee.

          (27) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, each Credit Line
     Agreement and each Mortgage Loan is an enforceable obligation of the
     related mortgagor.

          (28) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, neither Seller has
     received a notice of default of any senior mortgage loan related to a
     Mortgaged Property that has not been cured by a party other than the
     Master Servicer.

          (29) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the definition of
     "prime rate" in each Credit Line Agreement relating to a Mortgage Loan
     does not differ materially from "the highest `prime rate' as published in
     the `Money Rates' table of The Wall Street Journal as of the first
     business day of the calendar month for the applicable interest rate
     adjustment date."

          (30) The weighted average remaining term to maturity of the Initial
     Mortgage Loans on a contractual basis as of the Cut-off Date is
     approximately the number of months specified in the Adoption Annex. On
     each date that the Loan Rates have been adjusted, interest rate
     adjustments on the Initial Mortgage Loans were made in compliance with
     the related mortgage and Mortgage Note and applicable law. Over the term
     of each Mortgage Loan, the Loan Rate may not exceed the related Loan Rate
     Cap. The Loan Rate Cap for the Initial Mortgage Loans ranges between the
     percentages specified in the Adoption Annex and the weighted average Loan
     Rate Cap is approximately the percentage specified in the Adoption Annex.
     The Gross Margins for the Initial Mortgage Loans range between the
     percentages specified in the Adoption Annex and the weighted average
     Gross Margin is approximately the percentage

                                      15
<PAGE>

     specified in the Adoption Annex as of the Cut-off Date for the Initial
     Mortgage Loans. The Loan Rates on the Initial Mortgage Loans range
     between the percentages specified in the Adoption Annex and the weighted
     average Loan Rate on the Initial Mortgage Loans is approximately the
     percentage specified in the Adoption Annex.

          (31) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, each Mortgaged Property
     consists of a single parcel of real property with a one-to-four unit
     single family residence erected on it, or an individual condominium unit,
     planned unit development unit, or townhouse.

          (32) No more than the percentage specified in the Adoption Annex (by
     Cut-off Date Loan Balance) of the Initial Mortgage Loans are secured by
     real property improved by individual condominium units, units in planned
     unit developments, townhouses, or two-to-four family residences erected
     on them, and at least the percentage specified in the Adoption Annex (by
     Cut-off Date Loan Balance) of the Mortgage Loans are secured by real
     property with a detached one-family residence erected on them.

          (33) The Credit Limits on the Initial Mortgage Loans range between
     approximately the dollar amounts specified in the Adoption Annex with an
     average of approximately the dollar amount specified in the Adoption
     Annex. As of the Cut-off Date for the Initial Mortgage Loans, no Mortgage
     Loan had a principal balance in excess of approximately the dollar amount
     specified in the Adoption Annex and the average principal balance of the
     Initial Mortgage Loans is equal to approximately the dollar amounts
     specified in the Adoption Annex.

          (34) Approximately the percentages specified in the Adoption Annex
     of the Initial Mortgage Loans, by aggregate principal balance as of the
     Cut-off Date, are secured by first and second liens.

          (35) As of the Closing Date, no more than the percentage specified
     in the Adoption Annex of the Initial Mortgage Loans, by aggregate
     principal balance, were appraised electronically.

          (36) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no default exists under
     any applicable Mortgage Note or applicable Mortgage Loan and no event
     that, with the passage of time or with notice and the expiration of any
     grace or cure period, would constitute a default under any applicable
     Mortgage Note or applicable Mortgage Loan has occurred and been waived.
     As of the Closing

                                      16
<PAGE>

     Date with respect to the Initial Mortgage Loans, the relevant Subsequent
     Closing Date with respect to any Additional Home Equity Loans, or the
     applicable date of substitution with respect to any Eligible Substitute
     Mortgage Loan, no modifications to the applicable Mortgage Notes and
     applicable Mortgage Loans have been made and not disclosed.

          (37) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, each Mortgage Loan was
     originated in accordance with the Sponsor's underwriting guidelines and
     the Sponsor had no knowledge of any fact that would have caused a
     reasonable originator of mortgage loans to conclude on the date of
     origination of each Mortgage Loan that each such Mortgage Loan would not
     be paid in full when due.

          (38) To the best knowledge of CHL at the time of origination of each
     Mortgage Loan, no improvement located on or being part of the Mortgaged
     Property was in violation of any applicable zoning and subdivision laws
     or ordinances.

          (39) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, any leasehold estate
     securing a Mortgage Loan has a term of not less than five years in excess
     of the term of the related Mortgage Loan.

          (40) Based on the drawn balances of the Initial Mortgage Loans, the
     Initial Mortgage Loans had the characteristics set out in the Adoption
     Annex in respect of the following: weighted average Combined
     Loan-to-Value Ratio; range of Combined Loan-to-Value Ratios; percentage
     of primary residences; weighted average FICO score; range of FICO scores;
     Weighted Average Net Loan Rate; range of net Loan Rates; weighted average
     original stated term to maturity; range of original term to maturity;
     range of remaining term to maturity; average drawn balance; weighted
     average utilization ratio; and percentage of the Initial Mortgage Loans
     that have their respective Mortgaged Properties located in the top five
     states, measured by aggregate drawn balances.

          (41) Any Initial Mortgage Loan that has been modified in any manner
     has been so modified in accordance with the policies and procedures of
     the Master Servicer and in a manner that was permitted by the Sale and
     Servicing Agreement, the Indenture, and any other Transaction Document.

          (42) Each Initial Mortgage Loan was originated (within the meaning
     of Section 3(a)(41) of the Securities Exchange Act of 1934) by an entity
     that satisfied at

                                      17
<PAGE>

     the time of origination the requirements of Section 3(a)(41) of the
     Securities Exchange Act of 1934.

          (43) At the time each Initial Mortgage Loan was originated, each
     Seller was, and each Seller is an approved seller of conventional
     mortgage loans for Fannie Mae and Freddie Mac and is a mortgagee approved
     by the Secretary of Housing and Urban Development pursuant to Sections
     203 and 211 of the National Housing Act.

          (44) A lender's policy of title insurance together with a
     condominium endorsement and extended coverage endorsement, if applicable,
     in an amount at least equal to the principal balance of the related
     Mortgage Loan as of the Cut-off Date or the relevant Subsequent Cut-off
     Date, as applicable, or a commitment (binder) to issue the same was
     effective on the date of the origination of each Mortgage Loan, each such
     policy is valid and remains in full force, and each such policy was
     issued by a title insurer qualified to do business in the jurisdiction
     where the Mortgaged Property is located and acceptable to Fannie Mae and
     Freddie Mac and is in a form acceptable to Fannie Mae and Freddie Mac,
     which policy insures the Sponsor and successor owners of indebtedness
     secured by the insured Mortgage, as to the first priority lien, of the
     Mortgage subject to the exceptions in paragraph (7) above.

          (45) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, the improvements on
     each Mortgaged Property are covered by a valid and existing hazard
     insurance policy with a generally acceptable carrier that provides for
     fire and extended coverage and coverage for such other hazards as are
     customary in the area where the Mortgaged Property is located in an
     amount that is at least equal to the lesser of (i) the maximum insurable
     value of the improvements securing the Mortgage Loan or (ii) the greater
     of (a) the outstanding principal balance of the Mortgage Loan and (b) an
     amount such that the proceeds of the policy will be sufficient to prevent
     the Mortgagor or the mortgagee from becoming a co-insurer. If the
     Mortgaged Property is a condominium unit, it is included under the
     coverage afforded by a blanket policy for the condominium unit. All such
     individual insurance policies and all flood policies referred to in item
     (46) below contain a standard mortgagee clause naming the Sponsor or the
     original mortgagee, and its successors in interest, as mortgagee, and the
     Sponsor has received no notice that any premiums due and payable thereon
     have not been paid, and the Mortgage obligates the Mortgagor thereunder
     to maintain all such insurance, including flood insurance, at the
     Mortgagor's expense, and upon the Mortgagor's failure to do so,
     authorizes the holder of the Mortgage to obtain and maintain such

                                      18
<PAGE>

     insurance at the Mortgagor's expense and to seek reimbursement therefor
     from the Mortgagor.

          (46) If the Mortgaged Property is in an area identified in the
     Federal Register by the Federal Emergency Management Agency as having
     special flood hazards, a flood insurance policy in a form meeting the
     requirements of the current guidelines of the Flood Insurance
     Administration is in effect with respect to the Mortgaged Property with a
     generally acceptable carrier in an amount representing coverage not less
     than the least of (A) the outstanding principal balance of the Mortgage
     Loan and any mortgage loan senior to that Mortgage Loan, (B) the minimum
     amount required to compensate for damage or loss on a replacement cost
     basis, or (C) the maximum amount of insurance that is available under the
     National Flood Insurance Act of 1968.

          (47) Each Mortgage Note and the related Mortgage are genuine, and
     each is the valid and legally binding obligation of its maker,
     enforceable in accordance with its terms and under applicable law, except
     that (a) its enforceability may be limited by bankruptcy, insolvency,
     moratorium, receivership, and other similar laws relating to creditors'
     rights generally and (b) the remedy of specific performance and
     injunctive and other forms of equitable relief may be subject to
     equitable defenses and to the discretion of the court before which any
     proceeding therefor may be brought. To the best of CHL's knowledge, all
     parties to the Mortgage Note and the Mortgage had legal capacity to
     execute the Mortgage Note and the Mortgage and each Mortgage Note and
     Mortgage have been duly and properly executed by such parties.

          (48) No Mortgage Loan has a shared appreciation feature, or other
     contingent interest feature.

          (49) To the best of CHL's knowledge, all of the improvements that
     were included for the purpose of determining the appraised value of the
     Mortgaged Property lie wholly within the boundaries and building
     restriction lines of the Mortgaged Property, and no improvements on
     adjoining properties encroach on the Mortgaged Property.

          (50) To the best of CHL's knowledge, all inspections, licenses, and
     certificates required to be made or issued with respect to all occupied
     portions of the Mortgaged Property and, with respect to the use and
     occupancy of the same, including certificates of occupancy and fire
     underwriting certificates, have been made or obtained from the
     appropriate authorities, unless their lack would not have a material
     adverse effect on the value of the Mortgaged Property, and the Mortgaged
     Property is lawfully occupied under applicable law.

                                      19
<PAGE>

          (51) Each Mortgage contains customary and enforceable provisions
     that render the rights and remedies of its holder adequate for the
     realization against the Mortgaged Property of the benefits of the
     security intended to be provided by it, including, (i) in the case of a
     Mortgage designated as a deed of trust, by trustee's sale, and (ii)
     otherwise by judicial foreclosure.

          (52) Before the approval of the Mortgage Loan application, an
     appraisal of the related Mortgaged Property was obtained from a qualified
     appraiser, duly appointed by the Sponsor, who had no interest, direct or
     indirect, in the Mortgaged Property or in any loan secured by the
     Mortgaged Property, and whose compensation is not affected by the
     approval or disapproval of the Mortgage Loan.

          (53) Except for (A) payments in the nature of escrow payments, and
     (B) interest accruing from the date of the Mortgage Note or date of
     disbursement of the Mortgage proceeds, whichever is later, to the day
     that precedes by one month the Due Period of the first installment of
     principal and interest and taxes and insurance payments, the Sponsor has
     not advanced funds, or induced, solicited, or knowingly received any
     advance of funds by a party other than the Mortgagor, directly or
     indirectly, for the payment of any amount required by the Mortgage.

          (54) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, no foreclosure
     proceedings are pending against any Mortgaged Property and no Mortgage
     Loan is subject to any pending bankruptcy or insolvency proceeding.

          (55) As of the Closing Date with respect to the Initial Mortgage
     Loans, the relevant Subsequent Closing Date with respect to any
     Additional Home Equity Loans, or the applicable date of substitution with
     respect to any Eligible Substitute Mortgage Loan, there is no homestead
     exemption available and enforceable that materially interferes with the
     right to sell any Mortgaged Property at a trustee's sale or the right to
     foreclose the related Mortgage.

          (56) No borrower was required to purchase any single premium credit
     insurance policy (e.g., life, disability, accident, unemployment, or
     health insurance product) or debt cancellation agreement as a condition
     of obtaining the extension of credit. No borrower obtained a prepaid
     single-premium credit insurance policy (e.g., life, disability, accident,
     unemployment, mortgage, or health insurance) in connection with the
     origination of the Mortgage Loan. No proceeds from any Mortgage Loan were
     used to purchase debt cancellation agreements as part of the origination
     of, or as a condition to closing, the Mortgage Loan.

                                      20
<PAGE>

          (57) The Initial Mortgage Loans, individually and in the aggregate,
     conform in all material respects to their descriptions in the Prospectus
     Supplement.

          (58) Each Mortgage Loan represents a "qualified mortgage" within the
     meaning of Section 860(a)(3) of the Code (but without regard to the rule
     in Treasury Regulation ss. 1.860G-2(f)(2) that treats a defective
     obligation as a qualified mortgage, or any substantially similar
     successor provision).

     (b) If the substance of any representation or warranty under the Sale and
Servicing Agreement or in this Section made to the best of CHL's knowledge or
as to which a Seller has no knowledge is inaccurate and the inaccuracy
materially and adversely affects the interest of the Purchaser or its assignee
in the related Mortgage Loan, then, notwithstanding that the Seller did not
know the substance of the representation and warranty was inaccurate at the
time the representation or warranty was made, the inaccuracy shall be a breach
of the applicable representation or warranty and CHL shall cure the breach,
repurchase the Mortgage Loan, or substitute for the Mortgage Loan in
accordance with the Sale and Servicing Agreement.

     (c) The representations and warranties in this Section shall survive the
transfer and assignment of the Mortgage Loans to the Purchaser. The sole
remedy of the Purchaser, the Noteholders, the Indenture Trustee on behalf of
Noteholders against a Seller for the breach of a representation or warranty is
CHL's obligation to accept a transfer of a Mortgage Loan as to which a breach
has occurred and is continuing and to make any required deposit in the
Collection Account or to substitute an Eligible Substitute Mortgage Loan.

     (d) The Purchaser acknowledges that CHL, as Master Servicer, in its sole
discretion, may purchase for its own account from the Trust any Mortgage Loan
that is 151 days or more delinquent. The price for any Mortgage Loan purchased
shall be calculated in the same manner as in Section 3.06 of the Sale and
Servicing Agreement and shall be deposited in the Collection Account. When it
receives a certificate from the Master Servicer in the form of Exhibit D to
the Sale and Servicing Agreement, the Trust shall release to the purchaser of
the Mortgage Loan the related Mortgage File and shall execute and deliver any
instruments of transfer prepared by the purchaser of the Mortgage Loan,
without recourse, necessary to vest in the purchaser of the Mortgage Loan any
Mortgage Loan released pursuant to this Agreement, and the purchaser of the
Mortgage Loan shall succeed to all the Trust's interest in the Mortgage Loan
and all security and documents. This assignment shall be an assignment
outright and not for security. The purchaser of the Mortgage Loan shall then
own the Mortgage Loan, and all security and documents, free of any further
obligation to the Trust, the Owner Trustee, the Indenture Trustee, the
Transferor, or the Noteholders with respect to it.

                                      21
<PAGE>

                                  ARTICLE IV

                              SELLERS' COVENANTS

     Section 4.01. Covenants of the Sellers.

     Except for the transfer under this Agreement, none of the Sellers will
transfer to any other person, or create or suffer to exist any Lien on any
Mortgage Loan, or any interest in one; each Seller will notify the Indenture
Trustee of the existence of any Lien on any Mortgage Loan immediately on its
discovery; and CHL will defend the right, title, and interest of the Trust and
the Indenture Trustee in the Mortgage Loans against all claims of third
parties claiming through a Seller. Nothing in this Section shall prohibit a
Seller from suffering to exist on any of the Mortgage Loans any Liens for
municipal or other local taxes and other governmental charges if they are not
due at the time or if the applicable Seller is contesting their validity in
good faith by appropriate proceedings and set aside on its books adequate
reserves with respect to them.

                                  ARTICLE V

                                   SERVICING

     Section 5.01. Servicing.

     CHL will be the Master Servicer of the Mortgage Loans pursuant to the
Sale and Servicing Agreement.

                                  ARTICLE VI

                                  TERMINATION

     Section 6.01. Termination.

     The respective obligations of each of the Sellers and the Purchaser
created by this Agreement shall terminate when the Indenture terminates in
accordance with its terms.

                                 ARTICLE VII

                           MISCELLANEOUS PROVISIONS

     Section 7.01. Amendment.

     This Agreement may be amended from time to time by CHL, ____________ ,
and the Purchaser by written agreement signed by CHL, ____________ , and the
Purchaser.

                                      22
<PAGE>

     Section 7.02. Governing Law.

     THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS PROVISIONS THAT WOULD
RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER STATE.

     Section 7.03. Notices.

     All notices, demands, instructions, consents, and other communications
required or permitted under this Agreement shall be in writing and signed by
the party giving the same and shall be personally delivered or sent by first
class or express mail (postage prepaid), national overnight courier service,
or by facsimile transmission or other electronic communication device capable
of transmitting or creating a written record (confirmed by first class mail)
and shall be considered to be given for purposes of this Agreement on the day
that the writing is delivered when personally delivered or sent by facsimile
or overnight courier or three Business Days after it was sent to its intended
recipient if sent by first class mail. A facsimile has been delivered when the
sending machine issues an electronic confirmation of transmission. Unless
otherwise specified in a notice sent or delivered in accordance with the
provisions of this Section, notices, demands, instructions, consents, and
other communications in writing shall be given to or made on the respective
parties at their respective addresses indicated below:

                  (i)      if to CHL at:

                           Countrywide Home Loans, Inc.
                           4500 Park Granada
                           Calabasas, CA 91302
                           Ref: CWHEQ 200_-_

                  (ii)     if to ____________ at:

                           __________________

                           __________________

                           __________________
                           Ref: CWHEQ 200_-_
and
                  (iii)    if to the Purchaser at:

                           CWHEQ, Inc.
                           4500 Park Granada
                           Calabasas, CA 91302
                           Ref: CWHEQ 200_-_

                                      23
<PAGE>

     Section 7.04. Severability of Provisions.

     Any provisions of this Agreement that are held invalid for any reason or
unenforceable in any jurisdiction shall, as to that jurisdiction, be
ineffective to the extent of the invalidity or unenforceability without
invalidating the remaining provisions of this Agreement, and the prohibition
or unenforceability in a jurisdiction shall not invalidate or render
unenforceable that provision in any other jurisdiction.

     Section 7.05. Counterparts; Electronic Delivery.

     This Agreement may be executed in any number of copies, and by the
different parties on the same or separate counterparts, each of which shall be
considered to be an original instrument. Any signature page to this Agreement
containing a manual signature may be delivered by facsimile transmission or
other electronic communication device capable of transmitting or creating a
printable written record, and when so delivered shall have the effect of
delivery of an original manually signed signature page.

     Section 7.06. Further Agreements.

     The Purchaser and each Seller agree to execute and deliver to the other
any additional documents appropriate to effectuate the purposes of this
Agreement or in connection with the issuance of the Notes.

     Section 7.07. Successors and Assigns: Assignment of Purchase Agreement.

     This Agreement shall bind and inure to the benefit of and be enforceable
by each Seller, the Purchaser, the Trust, and the Indenture Trustee. The
obligations of each Seller under this Agreement cannot be assigned or
delegated to a third party without the consent of the Purchaser, except that
either Seller may assign its obligations under this Agreement to any person
into which that Seller is merged or any corporation resulting from any merger,
conversion, or consolidation to which that Seller is a party or any person
succeeding to the business of that Seller. The Purchaser is acquiring the
Mortgage Loans to further transfer them to the Trust, and the Trust will Grant
a Security Interest in them to the Indenture Trustee under the Indenture
pursuant to which the Trust will issue a series of Notes secured by the
Mortgage Loans. As an inducement to the Purchaser to purchase the Mortgage
Loans, each Seller consents to the assignment by the Purchaser to the Trust,
and by the Trust to the Indenture Trustee of all of the Purchaser's rights
against it under this Agreement insofar as they relate to the Mortgage Loans
transferred to the Trust applicable to that Seller and to the enforcement or
exercise of any right against that Seller pursuant to this Agreement by the
Indenture Trustee under the Sale and Servicing Agreement and the Indenture.
Enforcement of a right by the Indenture Trustee shall have the same effect as
if the right had been exercised by the Purchaser directly.

                                      24
<PAGE>

     Section 7.08. Survival.

     The representations and warranties in Article III shall survive the
purchase of the Mortgage Loans.

                                      25
<PAGE>

     IN WITNESS WHEREOF, the Sellers and the Purchaser have caused this
Agreement to be duly executed by their respective officers as of the day and
year first above written.

                                  CWHEQ, INC.
                                            as Purchaser

                                       By:  _______________________________
                                            Name:
                                            Title:

                                  COUNTRYWIDE HOME LOANS, INC.
                                            as a Seller

                                       By:  _______________________________
                                            Name:
                                            Title:

                                  ____________  INC.
                                            as a Seller

                                       By:  _______________________________
                                            Name:
                                            Title:

                                      26
<PAGE>

STATE OF ________________ )
                          ) ss.:
COUNTY OF _______________ )

     On the ____ day of _______, 200_ before me, a Notary Public in and for
said State, personally appeared ________________, known to me to be a
________________ of CWHEQ, Inc., the corporation that executed the within
instrument, and also known to me to be the person who executed it on behalf of
said corporation, and acknowledged to me that such corporation executed the
within instrument.

     IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

_____________
Notary Public

________________
Commission # ________________
Notary Public - ________________
________________ County
My Comm. Expires _______, 200_.

                                      27
<PAGE>

STATE OF ________________ )
                          ) ss.:
COUNTY OF _______________ )

     On the ____ day of _______, 200_ before me, ________________ of
Countrywide Home Loans, Inc., personally appeared, personally known to me (or
proved to me on the basis of satisfactory evidence) to be the person whose
name is subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity, and that by his signature on the
instrument the person, or the entity on behalf of which the person acted,
executed the instrument.

     IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

_____________
Notary Public

________________
Commission # ________________
Notary Public - ________________
________________ County
My Comm. Expires _______, 200_.

                                      28
<PAGE>

STATE OF ________________ )
                          ) ss.:
COUNTY OF _______________ )

     On the ____ day of _______, 200_ before me, ________________ of
____________ , personally appeared, personally known to me (or proved to me on
the basis of satisfactory evidence) to be the person whose name is subscribed
to the within instrument and acknowledged to me that he executed the same in
his authorized capacity, and that by his signature on the instrument the
person, or the entity on behalf of which the person acted, executed the
instrument.

     IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

_____________
Notary Public

________________
Commission # ________________
Notary Public - ________________
________________ County
My Comm. Expires _______, 200_.

                                      29
<PAGE>

                                                                    SCHEDULE I

                                  SCHEDULE OF
                                MORTGAGE LOANS

                   [Delivered to the Indenture Trustee only]

                                   Sch-I-1
<PAGE>

                                                                   SCHEDULE II

                          STANDARD & POOR'S GLOSSARY

              Standard & Poor's Predatory Lending Categorization

Standard & Poor's has categorized loans governed by anti-predatory lending
laws in the jurisdictions listed below into three categories based on a
combination of factors that include (a) the risk exposure associated with the
assignee liability and (b) the tests and thresholds set forth in those laws.
Note that certain loans classified by the relevant statute as Covered are
included in Standard & Poor's High Cost Loan category because they included
thresholds and tests that are typical of what is generally considered High
Cost by the industry.

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                    Standard & Poor's High-Cost Loan Categorization
---------------------------------------------------------------------------------------------------------------
               State/jurisdiction                         Category under applicable anti-predatory lending law
---------------------------------------------------------------------------------------------------------------
<S>                                               <C>
Arkansas                                          High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Cleveland Heights, Ohio                           Covered Loan
------------------------------------------------  -------------------------------------------------------------
Colorado                                          Covered Loan
------------------------------------------------  -------------------------------------------------------------
Connecticut                                       High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
District of Columbia                              Covered Loan
------------------------------------------------  -------------------------------------------------------------
Florida                                           High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Georgia (Oct. 1, 2002 - March 6, 2003)            High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Georgia as amended (March 7, 2003 - current)      High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
HOEPA Section 32                                  High Cost Loan
------------------------------------------------  -------------------------------------------------------------
Illinois                                          High Risk Home Loan
------------------------------------------------  -------------------------------------------------------------
Kansas                                            High Loan-to-Value Consumer Loans and High APR Consumer Loans
------------------------------------------------  -------------------------------------------------------------
Kentucky                                          High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Los Angeles, Calif.                               High Cost Refinance Home Loan
------------------------------------------------  -------------------------------------------------------------
Maine                                             High Rate High Fee mortgage
------------------------------------------------  -------------------------------------------------------------
Massachusetts                                     High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Nevada                                            Home Loan
------------------------------------------------  -------------------------------------------------------------
New Jersey                                        High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
New York                                          High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
New Mexico                                        High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
North Carolina                                    High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Oakland, Calif.                                   High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
Ohio                                              Covered Loan
------------------------------------------------  -------------------------------------------------------------
Oklahoma                                          Subsection 10 Mortgage
------------------------------------------------  -------------------------------------------------------------
South Carolina                                    High Cost Home Loan
------------------------------------------------  -------------------------------------------------------------
West Virginia                                     West Virginia Mortgage Loan Act Loan
---------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                     Standard & Poor's Covered Loan Categorization
---------------------------------------------------------------------------------------------------------------
               State/jurisdiction                         Category under applicable anti-predatory lending law
---------------------------------------------------------------------------------------------------------------
<S>                                               <C>
Georgia (Oct. 1, 2002 - March 6, 2003)            Covered Loan
------------------------------------------------  -------------------------------------------------------------
New Jersey                                        Covered Home Loan
---------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Sch-II-1
<PAGE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                      Standard & Poor's Home Loan Categorization
---------------------------------------------------------------------------------------------------------------
               State/jurisdiction                         Category under applicable anti-predatory lending law
---------------------------------------------------------------------------------------------------------------
<S>                                               <C>
Georgia (Oct. 1, 2002- March 6, 2003)             Home Loan
------------------------------------------------  -------------------------------------------------------------
New Jersey                                        Home Loan
------------------------------------------------  -------------------------------------------------------------
New Mexico                                        Home Loan
------------------------------------------------  -------------------------------------------------------------
North Carolina                                    Consumer Home Loan
------------------------------------------------  -------------------------------------------------------------
Oakland, Calif.                                   Home Loan
------------------------------------------------  -------------------------------------------------------------
South Carolina                                    Consumer Home Loan
---------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Sch-II-2
<PAGE>

                                                                       ANNEX 1

                                ADOPTION ANNEX

     The purchase price for the Mortgage Loans pursuant to Section 2.03 is the
transfer to each of the Sellers on the Closing Date of the Transferor
Certificates and the proceeds from the sale of the Notes, each by its
respective portion.

     The items referred to in the representations and warranties in Section
3.02 are:

     (12) _.__% of the Mortgage Loans being transferred on the relevant date
(by Cut-off Date Loan Balance) were 30-59 days delinquent (measured on a
contractual basis).

     (18) As of the Cut-off Date no more than _.__% of the Mortgage Loans, by
aggregate principal balance, are secured by Mortgaged Properties located in
one United States postal zip code.

     (19) The Combined Loan-to-Value Ratio for each Mortgage Loan was not in
excess of 100.00%.

     (30) The weighted average remaining term to maturity of the Mortgage
Loans on a contractual basis as of the Cut-off Date is approximately ___. The
Loan Rate Caps for the Mortgage Loans range between _.__% and _.__%, and the
weighted average Loan Rate Cap is approximately _.__%. The Gross Margins for
the Mortgage Loans range between _.__% and _.__%, and the weighted average
Gross Margin is approximately _.__% as of the Cut-off Date. The Loan Rates on
the Mortgage Loans range between _.__% and _.__%, and the weighted average
Loan Rate on the Mortgage Loans is approximately _.__%.

     (32) No more than _.__% (by Cut-off Date Loan Balance) of the Mortgage
Loans are secured by real property improved by individual condominium units,
units in planned unit developments, townhouses, or two-to-four family
residences erected on them, and at least 61.36% (by Cut-off Date Loan Balance)
of the Mortgage Loans are secured by real property with a detached one-family
residence erected on them.

     (33) The Credit Limits on the Mortgage Loans range between approximately
$6,590 and $___________ with an average of approximately $_______. As of the
Cut-off Date, no Mortgage Loan had a principal balance in excess of
approximately $____________ and the average principal balance of the Mortgage
Loans is equal to approximately $________.

     (34) Approximately _.__% of the Mortgage Loans, by aggregate principal
balance as of the Cut-off Date for the Mortgage Loans, are secured by second
liens.

     (35) As of the Closing Date, no more than _.__% of the Mortgage Loans, by
aggregate principal balance, were appraised electronically.

                                   Ann-1-1
<PAGE>

     (40) As of the Cut-off Date (based on the drawn balances), the Mortgage
Loans had a weighted average Combined Loan-to-Value Ratio of _.__%; a range of
Loan-to-Value Ratios between _.__% and _.__%; a percentage of primary
residences of _.__%; a weighted average FICO score of ___; a range of FICO
scores between ___ and ___; a Weighted Average Net Loan Rate of _.__%; a range
of net Loan Rates between _.__% and _.__%; a weighted average original stated
term to maturity of ___ months; a range of original term to maturity between
___ and ___ months; a range of remaining term to maturity between ___ and ___
months; an average drawn balance of $________; an average utilization ratio of
_.__%; and _.__%of the Mortgage Loans have their respective Mortgaged
Properties located in the top five states, measured by aggregate drawn
balances.

                                   Ann-1-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]