Document:

EX-10.4

 Exhibit 10.4 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 
 THIS AMENDED AND RESTATED
CANADIAN PLEDGE AGREEMENT (this “Pledge Agreement”), dated as of March, 15 2013, is by and among ARMSTRONG WORLD INDUSTRIES, INC., a Pennsylvania corporation (the “Pledgor”) and BANK OF AMERICA, N.A., as
collateral agent (in such capacity, the “Collateral Agent”) for the holders of the Secured Obligations referenced below. 
 W I T N E S S E T H 
 WHEREAS, revolving credit and term loan facilities were
established in favour of the Pledgor pursuant to the terms of that certain amended and restated credit agreement dated as of November 23, 2010 (as amended and modified prior to the Closing Date, the “Existing Credit
Agreement”) among the Pledgor, certain of its Subsidiaries, as guarantors thereunder, the lenders party thereto and Bank of America, N.A., as administrative agent for the lenders thereunder; 

WHEREAS, in connection with the Existing Credit Agreement, the Pledgor entered into that certain Amended and Restated Pledge Agreement
dated as of November 23, 2010 (the “Existing Pledge Agreement”); 
 WHEREAS, the Pledgor has
requested certain modifications to the revolving credit and term loan facilities under the Existing Credit Agreement; 

WHEREAS, the Lenders have agreed to the requested modifications on the terms and conditions provided in that certain Amended and Restated
Credit Agreement, dated as of the date hereof (as amended and modified, the “Credit Agreement”), among the Pledgor and Armstrong Wood Products, Inc., a Delaware corporation (“Armstrong Wood Products”; together with
the Pledgor, the “Borrowers”), certain of their Subsidiaries, as guarantors thereunder, the lenders party thereto and Bank of America, N.A., as administrative agent for the lenders thereunder; and 

WHEREAS, this Pledge Agreement is required under the terms of the Credit Agreement, and is given in amendment to, restatement of and
substitution for the Existing Pledge Agreement provided in connection with the Existing Credit Agreement. 
 NOW, THEREFORE, in
consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions. 
 (a) Capitalized terms used and not otherwise defined
herein shall have the meanings ascribed to such terms in the definitions in Section 1.01 of the Credit Agreement provided however that for the purposes hereof, any references to the “Uniform Commercial Code” or “UCC” in such
definitions shall and shall be deemed to mean “the UCC, the PPSA or the STA, as applicable”. In addition, the following terms which are defined, as applicable, in (i) the UCC; (ii) the PPSA; or (iii) the STA are used as
defined therein: Accession, Financial Asset, Investment Property, Proceeds and Security. For greater certainty, where any such term is defined in more than one of the UCC, PPSA or STA (each, an “Applicable Statute”), its meaning for
the purposes of any provision of this Agreement where such term is used shall be the meaning ascribed to such term in the Applicable Statute that applies to such provision. 
 (b) As used herein, the following terms shall have the meanings set forth below: 

“Borrowers” has the meaning provided in the recitals hereof. 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

 “Collateral Agent” has the meaning provided in the introductory paragraph
hereof, together with its successors and assigns. 
 “Credit Agreement” has the meaning provided in the recitals
hereof. 
 “Event of Default” has the meaning provided in Section 8 hereof. 

“Existing Credit Agreement” has the meaning provided in the recitals hereof. 

“Existing Pledge Agreement” has the meaning provided in the recitals hereof. 

“Pledge Agreement” has the meaning provided in the introductory paragraph hereof, as amended and modified. 

“Pledged Collateral” has the meaning provided in Section 2 hereof. 

“Pledged Shares” has the meaning provided in Section 2(a) hereof. 

“Pledgor” has the meaning provided in the introductory paragraph hereof. 

“PPSA” means the Personal Property Security Act as in force from time to time in the relevant province or territory of
Canada. 
 “Secured Obligations” means, without duplication, (a) all Obligations and (b) all costs and
expenses incurred in connection with enforcement and collection of the Secured Obligations, including reasonable legal fees and expenses. 
 “STA” means the Securities Transfer Act as in force from time to time in the relevant province or territory of Canada. 

“UCC” means the Uniform Commercial Code as in effect in the state of New York from time to time. 

2. Pledge and Grant of Security Interest. To secure the prompt payment and performance in full when due, whether by lapse of time,
acceleration, mandatory prepayment or otherwise, of the Secured Obligations, the Pledgor hereby grants, pledges and assigns to the Collateral Agent, for the benefit of the holders of the Secured Obligations, a continuing security interest in any and
all right, title and interest of the Pledgor in and to the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the “Pledged Collateral”): 

(a) Pledged Shares. Sixty-five percent (65%) (or, if less, the full amount owned by the Pledgor) of the issued
and outstanding Capital Stock owned by the Pledgor of each Material First-Tier Foreign Subsidiary formed or existing under the laws of Canada, or any province or territory thereof set forth on Schedule 2(a) attached hereto, in each case
together with the certificates (or other agreements or instruments), if any, representing such Capital Stock, and all options and other rights, contractual or otherwise, with respect thereto (collectively, together with the Capital Stock described
in Section 2(b) and 2(c) below, the “Pledged Shares”), including the following: 
 (A) all shares, securities, membership interests or other equity interests representing a dividend on any of the Pledged Shares, or representing a distribution or return of capital upon or in respect of
the Pledged Shares, or resulting from a stock split, revision, reclassification or other exchange therefor, and any subscriptions, warrants, rights or options issued to the holder of, or otherwise in respect of, the Pledged Shares; and 

(B) without affecting the obligations of the Pledgor under any provision prohibiting such action hereunder or under the
Credit Agreement, in the event of any consolidation or merger involving the issuer of any Pledged Shares and in which such issuer is not the surviving entity, all Capital Stock of the successor entity formed by or resulting from such consolidation
or merger. 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
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 (b) Additional Shares. Sixty-five percent (65%) (or, if less,
the full amount owned by the Pledgor) of the issued and outstanding Capital Stock owned by the Pledgor of any Person that hereafter becomes a Material First-Tier Foreign Subsidiary formed or existing under the laws of Canada, or any province or
territory thereof, including the certificates (or other agreements or instruments) representing such Capital Stock. 
 (c) Proceeds. All Proceeds of any and all of the foregoing. 
 Without
limiting the generality of the foregoing, it is hereby specifically understood and agreed that the Pledgor may from time to time hereafter deliver additional Capital Stock to the Collateral Agent as collateral security for the Secured Obligations.
Upon delivery to the Collateral Agent, such additional Capital Stock shall be deemed to be part of the Pledged Collateral of the Pledgor and shall be subject to the terms of this Pledge Agreement whether or not Schedule 2(a) is amended to
refer to such additional Capital Stock. Notwithstanding anything to the contrary contained herein, the security interests granted under this Pledge Agreement shall not extend to, and the “Pledged Collateral” shall not include, any Excluded
Property. 
 3. Security for Secured Obligations. The security interest created hereby in the Pledged Collateral of the
Pledgor constitutes continuing collateral security for all of the Secured Obligations. 
 4. Delivery of the Pledged
Collateral. The Pledgor hereby agrees that: 
 (a) To the extent that Pledged Collateral is certificated, the
Pledgor shall (subject to the provisions of Section 7.14 of the Credit Agreement) deliver to the Collateral Agent (i) simultaneously with or prior to the execution and delivery of this Pledge Agreement, all certificates representing the
Pledged Shares of the Pledgor and (ii) promptly upon the receipt thereof by or on behalf of the Pledgor, all other certificates and instruments constituting Pledged Collateral of the Pledgor. The Collateral Agent hereby acknowledges that the
certificate representing the Pledged Shares of the Pledgor as of the date hereof was previously delivered to its counsel in connection with the Existing Pledge Agreement. Prior to delivery to the Collateral Agent, all such certificates and
instruments constituting Pledged Collateral of the Pledgor shall be held in trust by the Pledgor for the benefit of the Collateral Agent pursuant hereto. All such certificates shall be delivered in suitable form for transfer by delivery or shall be
accompanied by duly executed instruments of transfer or assignment in blank, substantially in the form provided in Exhibit 4(a) attached hereto. 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
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 (b) Additional Securities. If the Pledgor shall receive by virtue of
its being or having been the owner of any Pledged Collateral, any (i) certificate, including any certificate representing a dividend or distribution in connection with any increase or reduction of capital, reclassification, merger,
consolidation, sale of assets, combination of shares or other equity interests, stock splits, spin-off or split-off, promissory notes or other instruments; (ii) option or right, whether as an addition to, substitution for, or an exchange for,
any Pledged Collateral or otherwise; (iii) dividends payable in securities; or (iv) distributions of securities in connection with a partial or total liquidation, dissolution or reduction of capital, capital surplus or paid-in surplus,
then the Pledgor shall receive such certificate, instrument, option, right or distribution in trust for the benefit of the Collateral Agent, shall segregate it from the Pledgor’s other property and shall deliver it forthwith to the Collateral
Agent in the exact form received together with any necessary endorsement and/or appropriate stock power duly executed in blank, substantially in the form provided in Exhibit 4(a), to be held by the Collateral Agent as Pledged Collateral and
as further collateral security for the Secured Obligations. 
 (c) Financing Statements. To the extent
required by applicable law, the Pledgor authorizes the Collateral Agent to file one or more financing statements disclosing the Collateral Agent’s security interest in the Pledged Collateral. The Pledgor shall execute and deliver to the
Collateral Agent such other applicable financing statements, other filings and other documents as may be reasonably requested by the Collateral Agent in order to perfect and protect the security interest created hereby in the Pledged Collateral of
the Pledgor. 
 5. Representations and Warranties. The Pledgor hereby represents and warrants to the Collateral Agent,
for the benefit of the holders of the Secured Obligations, that so long as any of the Secured Obligations remains outstanding and until all of the commitments relating thereto have been terminated: 

(a) Authorization of Pledged Shares. The Pledged Shares have been duly authorized and validly issued, are fully
paid and non-assessable and are not subject to the pre-emptive rights of any Person. 
 (b) Title. The
Pledgor has good and indefeasible title to the Pledged Collateral of the Pledgor and is the legal and beneficial owner of such Pledged Collateral free and clear of any Lien, other than Permitted Liens. With respect to the Pledged Shares of the
Pledgor, there exists no “adverse claim” within the meaning of (i) Section 8-102 of the UCC or (ii) any corresponding provision of the PPSA. 

(c) Exercising of Rights. The exercise by the Collateral Agent of its rights and remedies hereunder will not
violate any Law or governmental regulation or any material contractual restriction binding on or affecting the Pledgor or any of its property. 
 (d) Pledgor’s Authority. No authorization, approval or action by, and no notice or filing with, any Governmental Authority or the issuer of any Pledged Stock, its directors or shareholders is
required either (i) for the pledge made by the Pledgor or for the granting of the security interest by the Pledgor pursuant to this Pledge Agreement (except as have been already obtained) or (ii) for the exercise by the Collateral Agent or
the holders of the Secured Obligations of their rights and remedies hereunder (except as may be required by Laws affecting the offering 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
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and sale of securities), except for such authorization, approvals or actions as have already been obtained or performed and are in full force and effect. Without limiting the generality of the
foregoing, there are no restrictions in any of the Organization Documents of the issuer of the Pledged Shares which would limit or restrict the grant of security interest hereunder or the exercise of the rights and remedies conferred hereby except
such restrictions as have already been complied with. 
 (e) Security Interest/Priority. This Pledge
Agreement creates a valid security interest in favour of the Collateral Agent for the benefit of the holders of the Secured Obligations, in the Pledged Collateral. The taking of possession by the Collateral Agent or its duly authorized agent of the
certificates representing the Pledged Shares, or the acknowledgement by such agent that it holds such certificates for the Agent, together with duly executed instruments of transfer or assignment in blank, substantially in the form provided in
Schedule 4(a) attached hereto, and all other certificates and instruments constituting Pledged Collateral, will perfect and establish the first priority of the Collateral Agent’s security interest in the Pledged Shares, and such
possession will establish the first priority of such security interest in all other Pledged Collateral represented by such Pledged Shares and instruments securing the Secured Obligations. Except as set forth in this Section 5(e), no
action is necessary at this time to perfect or otherwise protect such security interest. 
 (f) Partnership
and Membership Interests. As of the date hereof, none of the Pledged Shares consist of partnership or limited liability company interests. Except as previously disclosed to the Collateral Agent, none of the Pledged Shares consisting of
partnership or limited liability company interests (i) is dealt in or traded on a securities exchange or in a securities market, (ii) by its terms expressly provides that it is a security governed by Article 8 of the UCC or any
corresponding provisions of the STA, (iii) is an investment company security, (iv) is held in a securities account or (v) constitutes a Security or a Financial Asset. 

(g) No Other Interests. As of the Closing Date, pursuant to the terms of the Credit Agreement, the Pledgor is not
required to pledge any Capital Stock in any Subsidiary other than as set forth on Schedule 2(a) attached hereto. 
 (h) None of the issuers of the Pledged Shares are unlimited liability companies and neither the Collateral Agent nor any other person shall be liable for the obligations of any issuer of the Pledged
Shares as a result of the grant of security interest hereunder or the exercise of the rights and remedies conferred hereby. 

6. Covenants. The Pledgor hereby covenants, that so long as any of the Secured Obligations remains outstanding and until all of
the commitments relating thereto have been terminated, the Pledgor shall: 
 (a) Books and Records. Upon
the reasonable request of the Collateral Agent, mark its books and records (and shall cause the issuer of the Pledged Shares of the Pledgor to mark its books and records) to reflect the security interest granted to the Collateral Agent, for the
benefit of the holders of the Secured Obligations, pursuant to this Pledge Agreement. 
 (b) Defense of
Title. Warrant and defend title to and ownership of the Pledged Collateral of the Pledgor at its own expense against the claims and demands of all other parties claiming an interest therein, keep the Pledged Collateral free from all Liens,
except for Permitted Liens, and not sell, exchange, transfer, assign, lease or otherwise dispose of Pledged Collateral of the Pledgor or any interest therein, except as permitted under the Credit Agreement and the other Loan Documents. 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 5 

 (c) Further Assurances. Promptly execute and deliver at its expense
all further instruments and documents and take all further action that may be necessary and desirable or that the Collateral Agent may reasonably request in order to (i) perfect and protect the security interest created hereby in the Pledged
Collateral of the Pledgor (including any and all action necessary to satisfy the Collateral Agent that the Collateral Agent has obtained a first priority perfected security interest in all Pledged Collateral); (ii) enable the Collateral Agent
to exercise and enforce its rights and remedies hereunder in respect of the Pledged Collateral of the Pledgor; and (iii) otherwise effect the purposes of this Pledge Agreement. 

(d) Amendments. Not make or consent to any amendment or other modification or waiver with respect to any of the
Pledged Collateral of the Pledgor or enter into any agreement or allow to exist any restriction with respect to any of the Pledged Collateral of the Pledgor other than pursuant hereto or as may be permitted under the Credit Agreement. 

(e) Compliance with Securities Laws. File all reports and other information now or hereafter required to be filed
by the Pledgor with the United States Securities and Exchange Commission, the Ontario Securities Commission, and any other state, provincial, territorial, federal or foreign agency in connection with the ownership of the Pledged Collateral of the
Pledgor. 
 (f) Issuance or Acquisition of Capital Stock Consisting of an Interest in a Partnership or a
Limited Liability Company. Not, without executing and delivering, or causing to be executed and delivered, to the Collateral Agent such agreements, documents and instruments as the Collateral Agent may require, issue or acquire any Capital Stock
of a Subsidiary consisting of an interest in a partnership or a limited liability company that (i) is dealt in or traded on a securities exchange or in a securities market, (ii) by its terms expressly provides that it is a security
governed by Article 8 of the UCC or the STA, (iii) is an investment company security, (iv) is held in a securities account or (v) constitutes a Security or a Financial Asset. 

7. Advances by Holders of the Secured Obligations. On failure of the Pledgor to perform any of the covenants and agreements
contained herein and upon prior written notice to the Pledgor, the Collateral Agent may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in
the performance thereof, including the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures that
the Collateral Agent may make for the protection of the security hereof or may be compelled to make by operation of Law. All such sums and amounts so expended shall be repayable by the Pledgor promptly upon timely notice thereof and demand therefor,
shall constitute additional Secured Obligations and shall, subjection to Section 2.08 of the Credit Agreement, bear interest from the date said amounts are expended at the rate then applicable to Revolving Loans that are Base Rate Loans. No
such performance of any covenant or agreement by the Collateral Agent on behalf of the Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor of any default under the terms of this Pledge Agreement, the other Loan Documents
or any other documents relating to the Secured Obligations. The Collateral Agent may make any payment hereby authorized in accordance with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be
discharged without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the Pledgor
in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP. 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
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 8. Events of Default. The occurrence of an event that would constitute an Event of
Default under the Credit Agreement shall be an Event of Default hereunder (an “Event of Default”). 
 9.
Remedies. 
 (a) General Remedies. Upon the occurrence of an Event of Default and during the
continuation thereof, the Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by Law
(including levy of attachment and garnishment), the rights and remedies of a secured party under the UCC or the PPSA, as the case may be, of the jurisdiction applicable to the enforcement of security interests in the affected Pledged Collateral.

 (b) Sale of Pledged Collateral. Upon the occurrence of an Event of Default and during the continuation
thereof, without limiting the generality of this Section 9 and without notice, the Collateral Agent may, in its sole discretion, sell or otherwise dispose of or realize upon the Pledged Collateral, or any part thereof, in one or more
parcels, at public or private sale, at any exchange or broker’s board or elsewhere, at such price or prices and on such other terms as the Collateral Agent may deem commercially reasonable, for cash, credit or for future delivery or otherwise
in accordance with applicable Law. To the extent permitted by Law, any holder of the Secured Obligations may in such event, bid for the purchase of such securities. The Pledgor agrees that, to the extent notice of sale shall be required by Law and
has not been waived by the Pledgor, any requirement of reasonable notice shall be met if notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to
the Pledgor, in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) days before the time of such sale or such other notice as may be required by applicable Law. The Collateral Agent shall not be
obligated to make any sale of Pledged Collateral of the Pledgor regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and
such sale may, without further notice, be made at the time and place to which it was so adjourned. 
 (c)
Private Sale. Upon the occurrence of an Event of Default and during the continuation thereof, the Pledgor recognizes that the Collateral Agent may deem it impracticable to effect a public sale of all or any part of the Pledged Shares or any
of the securities constituting Pledged Collateral and that the Collateral Agent may, therefore, determine to make one or more private sales of any such Pledged Collateral to a restricted group of purchasers who will be obligated to agree, among
other things, to acquire such Pledged Collateral for their own account, for investment and not with a view to the distribution or resale thereof. The Pledgor hereby waives any claims against the Collateral Agent arising by reason that any such
private sale shall not have been made in a commercially reasonable manner and agrees that the Collateral Agent shall have no obligation to delay sale of any such Pledged Collateral for the period of time necessary to permit the issuer of such
Pledged Collateral to register such Pledged Collateral for public sale under the Securities Act or qualify such Pledged Collateral for sale under the applicable Law as in force from time to time in the relevant province or territory of Canada. The
Pledgor further acknowledges and agrees that any offer to sell such Pledged Collateral that has 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 7 

 
been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer
may be advertised without prior registration under the Securities Act or the applicable Law as in force from time to time in the relevant province or territory of Canada), or (ii) made privately in the manner described above shall be deemed to
involve a “public sale” under the UCC and the PPSA, as applicable, notwithstanding that such sale may not constitute a “public offering” under the Securities Act or the applicable Law as in force from time to time in the relevant
province or territory of Canada, and the Collateral Agent may, in such event, bid for the purchase of such Pledged Collateral. 
 (d) Retention of Pledged Collateral. To the extent permitted under applicable Law, in addition to the rights and remedies hereunder, upon the occurrence and continuance of an Event of Default, the
Collateral Agent may, after providing the notices required by Sections 9-620 and 9-621 of the UCC or Section 65 of the PPSA (Ontario) as applicable, or otherwise complying with the requirements of applicable Law of the relevant jurisdiction,
accept or retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or
retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason. 
 (e)
Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Agent or the holders of the Secured Obligations are legally entitled, the Pledgor shall be liable
for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and reasonable legal fees and expenses. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be
returned to the Pledgor or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto. 
 10.
Rights of the Collateral Agent. 
 (a) Power of Attorney. In addition to other powers of attorney
contained herein, the Pledgor hereby designates and appoints the Collateral Agent, on behalf of the holders of the Secured Obligations, and each of its designees or agents, as attorney-in-fact of the Pledgor, irrevocably and with power of
substitution, with authority to take any or all of the following actions upon the occurrence and during the continuation of an Event of Default: 
 (i) to demand, collect, settle, compromise and adjust, and give discharges and releases concerning the Pledged Collateral, all as the Collateral Agent may reasonably deem appropriate; 

(ii) to commence and prosecute any actions at any court for the purposes of collecting any of the Pledged Collateral and
enforcing any other right in respect thereof; 
 (iii) to defend, settle or compromise any action brought and, in
connection therewith, give such discharge or release as the Collateral Agent may reasonably deem appropriate; 

(iv) to pay or discharge taxes, liens, security interests or other encumbrances levied or placed on or threatened against
the Pledged Collateral; 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 8 

 (v) to direct any parties liable for any payment in connection with any of
the Pledged Collateral to make payment of any and all monies due and to become due thereunder directly to the Collateral Agent or as the Collateral Agent shall direct; 

(vi) to receive payment of and receipt for any and all monies, claims, and other amounts due and to become due at any time
in respect of or arising out of any Pledged Collateral; 
 (vii) to sign and endorse any drafts, assignments,
proxies, stock powers, verifications, notices and other documents relating to the Pledged Collateral; 
 (viii)
to execute and deliver all assignments, conveyances, statements, financing statements, renewal financing statements, security and pledge agreements, affidavits, notices and other agreements, instruments and documents that the Collateral Agent may
reasonably deem appropriate in order to perfect and maintain the security interests and liens granted in this Pledge Agreement and in order to fully consummate all of the transactions contemplated therein; 

(ix) to exchange any of the Pledged Collateral or other property upon any merger, consolidation, reorganization,
recapitalization or other readjustment of the issuer thereof and, in connection therewith, deposit any of the Pledged Collateral with any committee, depository, transfer agent, registrar or other designated agency upon such terms as the Collateral
Agent may reasonably deem appropriate; 
 (x) to vote for a shareholder resolution, or to sign an instrument in
writing, sanctioning the transfer of any or all of the Pledged Collateral into the name of the Collateral Agent or one or more of the holders of the Secured Obligations or into the name of any transferee to whom the Pledged Collateral or any part
thereof may be sold pursuant to Section 9 hereof; and 
 (xi) to do and perform all such other acts
and things as the Collateral Agent may reasonably deem appropriate or convenient in connection with the Pledged Collateral. 
 This power of attorney is a power coupled with an interest and shall be irrevocable for so long as any of the Secured Obligations shall remain outstanding and until all of the commitments relating thereto
shall have been terminated. The Collateral Agent shall be under no duty to exercise or withhold the exercise of any of the rights, powers, privileges and options expressly or implicitly granted to the Collateral Agent in this Pledge Agreement, and
shall not be liable for any failure to do so or any delay in doing so. The Collateral Agent shall not be liable for any act or omission or for any error of judgment or any mistake of fact or Law in its individual capacity or its capacity as
attorney-in-fact except acts or omissions resulting from its gross negligence or wilful misconduct. This power of attorney is conferred on the Collateral Agent solely to protect, preserve and realize upon its security interest in the Pledged
Collateral. 
 (b) Assignment by the Collateral Agent. The Collateral Agent may assign the Secured
Obligations and any portion thereof and/or the Pledged Collateral and any portion thereof to a successor collateral agent appointed pursuant to Section 10.09 of the Credit Agreement, and the assignee shall be entitled to all of the rights and
remedies of the Collateral Agent under this Pledge Agreement in relation thereto. 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
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 (c) The Collateral Agent’s Duty of Care. Other than the exercise
of reasonable care to assure the safe custody and preservation of the Pledged Collateral while being held by the Collateral Agent hereunder, the Collateral Agent shall have no duty or liability to preserve rights pertaining thereto, it being
understood and agreed that the Pledgor shall be responsible for preservation of all rights in the Pledged Collateral, and the Collateral Agent shall be relieved of all responsibility for the Pledged Collateral upon surrendering it or tendering the
surrender of it to the Pledgor. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if such Pledged Collateral is accorded treatment substantially equal
to that which the Collateral Agent accords its own property, which shall be no less than the treatment employed by a reasonable and prudent agent in the industry, it being understood that the Collateral Agent shall not have responsibility for
(i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Pledged Collateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or
(ii) taking any necessary steps to preserve rights against any parties with respect to any of the Pledged Collateral. 
 (d) Voting Rights in Respect of the Pledged Collateral. 

(i) So long as no Event of Default shall have occurred and be continuing, to the extent permitted by Law, the Pledgor may
exercise any and all voting and other consensual rights pertaining to the Pledged Collateral of the Pledgor or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement or the Credit Agreement; and 

(ii) Upon the occurrence and during the continuance of an Event of Default and notice from the Collateral Agent to the
Pledgor that the Collateral Agent intends to exercise its rights pursuant to this paragraph (ii), all rights of the Pledgor to exercise the voting and other consensual rights that it would otherwise be entitled to exercise pursuant to
paragraph (i) of this subsection shall cease and all such rights shall thereupon become vested in the Collateral Agent, which shall then have the sole right to exercise such voting and other consensual rights. 

(e) Dividend Rights in Respect of the Pledged Collateral. 

(i) So long as no Event of Default shall have occurred and be continuing and subject to Section 4(b) hereof,
the Pledgor may receive and retain any and all dividends (other than stock dividends and other dividends constituting Pledged Collateral addressed hereinabove) or interest paid in respect of the Pledged Collateral to the extent they are allowed
under the Credit Agreement. 
 (ii) Upon the occurrence and during the continuance of an Event of Default and
notice from the Collateral Agent to the Pledgor that the Collateral Agent intends to exercise its rights pursuant to this paragraph (e): 
 (A) all rights of the Pledgor to receive the dividends and interest payments that it would otherwise be authorized to receive and retain pursuant to

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 10 

 
paragraph (i) of this subsection shall cease and all such rights shall thereupon be vested in the Collateral Agent, which shall then have the sole right to receive and hold as Pledged
Collateral such dividends and interest payments; and 
 (B) all dividends and interest payments that are
received by the Pledgor contrary to the provisions of paragraph (A) of this subsection shall be received in trust for the benefit of the Collateral Agent, shall be segregated from other property or funds of the Pledgor, and shall be
forthwith paid over to the Collateral Agent as Pledged Collateral in the exact form received, to be held by the Collateral Agent as Pledged Collateral and as further collateral security for the Secured Obligations. 

(f) Release of Pledged Collateral. The Collateral Agent may release any of the Pledged Collateral from this Pledge
Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any Pledged Collateral not
expressly released or substituted, and this Pledge Agreement shall continue as a first priority lien on all Pledged Collateral not expressly released or substituted. 
 11. Rights of Required Lenders. All rights of the Collateral Agent hereunder, if not exercised by the Collateral Agent, may be exercised by the Required Lenders. 

12. Application of Proceeds. Upon the occurrence and during the continuation of an Event of Default, any payments in respect of
the Secured Obligations and any proceeds of the Pledged Collateral, when received by the Collateral Agent or any of the holders of the Secured Obligations in cash or its equivalent, will be applied in reduction of the Secured Obligations in the
order set forth in the Credit Agreement or other document relating to the Secured Obligations, and the Pledgor irrevocably waives the right to direct the application of such payments and proceeds and acknowledges and agrees that the Collateral Agent
shall have the continuing and exclusive right to apply and reapply any and all such payments and proceeds in the Collateral Agent’s sole discretion, notwithstanding any entry to the contrary upon any of its books and records. 

13. Costs of Counsel. At all times hereafter, whether or not upon the occurrence of an Event of Default, the Pledgor agree to
promptly pay upon demand any and all reasonable costs and expenses (including reasonable legal fees and expenses) of the Collateral Agent and the holders of the Secured Obligations (a) as required under Section 11.04 of the Credit
Agreement and (b) as necessary to protect the Pledged Collateral or to exercise any rights or remedies under this Pledge Agreement or with respect to any of the Pledged Collateral. All of the foregoing costs and expenses shall constitute
Secured Obligations hereunder. 
 14. Continuing Agreement. 

(a) This Pledge Agreement shall be a continuing agreement in every respect and shall remain in full force and effect so
long as any of the Secured Obligations remains outstanding (other than contingent indemnity obligations not yet due and payable) and until all of the commitments relating thereto have been terminated. Upon such payment and termination, this Pledge
Agreement shall be automatically terminated and the Collateral Agent shall, upon the request and at the expense of the Pledgor, forthwith release and discharge all of its liens and security interests hereunder and shall execute and deliver all UCC
termination statements, PPSA 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 11 

 
discharges and/or other documents reasonably requested by the Pledgor evidencing such termination, release and discharge and shall re-deliver the certificates evidencing the Pledged Shares to the
Pledgor or to such other Person as the Pledgor shall direct. Notwithstanding the foregoing, all indemnities provided hereunder shall survive termination of this Pledge Agreement. 

(b) This Pledge Agreement shall continue to be effective or be automatically reinstated, as the case may be, if at any
time payment, in whole or in part, of any of the Secured Obligations is rescinded or must otherwise be restored or returned by the Collateral Agent or any holder of the Secured Obligations as a preference, fraudulent conveyance or otherwise under
any bankruptcy, insolvency or similar Law, all as though such payment had not been made; provided that in the event payment of all or any part of the Secured Obligations is rescinded or must be restored or returned, all reasonable costs and expenses
(including reasonable legal fees and expenses) incurred by the Collateral Agent or any holder of the Secured Obligations in defending and enforcing such reinstatement shall be deemed to be included as a part of the Secured Obligations. 

15. Amendments and Waivers. This Pledge Agreement and the provisions hereof may not be amended, waived, modified, changed,
discharged or terminated except as set forth in Section 11.01 of the Credit Agreement. 
 16. Successors in
Interest. This Pledge Agreement shall create a continuing security interest in the Collateral and shall be binding upon the Pledgor, its successors and assigns, and shall inure, together with the rights and remedies of the Collateral Agent and
the holders of the Secured Obligations hereunder, to the benefit of the Collateral Agent and the holders of the Secured Obligations and their successors and permitted assigns; provided, however, that none of the Pledgor may assign its rights
or delegate its duties hereunder without the prior written consent of the requisite Lenders under the Credit Agreement. 
 17.
Notices. All notices required or permitted to be given under this Pledge Agreement shall be given as provided in Section 11.02 of the Credit Agreement. 
 18. Counterparts. This Pledge Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and
the same instrument. It shall not be necessary in making proof of this Pledge Agreement to produce or account for more than one such counterpart. 
 19. Headings. The headings of the sections and subsections hereof are provided for convenience only and shall not in any way affect the meaning or construction of any provision of this Pledge
Agreement. 
 20. Governing Law; Submission to Jurisdiction; Venue. 

(a) THIS PLEDGE AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE PROVINCE OF ONTARIO AND THE FEDERAL
LAWS OF CANADA APPLICABLE THEREIN. 
 (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS PLEDGE AGREEMENT MAY BE BROUGHT IN
THE COURTS OF THE PROVINCE OF ONTARIO AND ALL COURTS COMPETENT TO HEAR APPEALS THEREFROM, OR, IF THE COLLATERAL 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 12 

 
AGENT SO ELECTS, THE STATE OF NEW YORK SITTING IN NEW YORK, NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS PLEDGE AGREEMENT, EACH
PARTY HERETO CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH PARTY HERETO IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF
FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS PLEDGE AGREEMENT OR OTHER DOCUMENT RELATED HERETO. EACH PARTY HERETO WAIVES PERSONAL SERVICE OF ANY
SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH PROVINCE OR STATE, AS APPLICABLE. 
 (c) EACH PARTY TO THIS PLEDGE AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS PLEDGE AGREEMENT OR IN ANY WAY CONNECTED WITH
OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS PLEDGE AGREEMENT, OR THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT
OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS PLEDGE AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF
THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
 21. Severability. If any provision of this Pledge Agreement or any related document is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the
remaining provisions of this Pledge Agreement and any other related document shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions
with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction. 
 22. Entirety. This Pledge Agreement, the other Loan Documents and the other
documents relating to the Secured Obligations comprise the complete and integrated agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. This Pledge Agreement
was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in favour of any party, but rather in accordance with the fair meaning thereof. 

23. Survival. All representations and warranties made hereunder or other document delivered pursuant hereto or thereto or in
connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent, the Collateral Agent and each Lender, regardless of any
investigation made by the Administrative Agent, the Collateral Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent, the Collateral Agent or any Lender may have had notice or knowledge of any Default at the time
of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 13 

 24. Other Security. To the extent that any of the Secured Obligations are now or
hereafter secured by property other than the Pledged Collateral (including real and other personal property owned by the Pledgor), or by a guarantee, endorsement or property of any other Person, then the Collateral Agent shall have the right to
proceed against such other property, guarantee or endorsement upon the occurrence of any Event of Default, and the Collateral Agent shall have the right, in its sole discretion, to determine which rights, security, liens, security interests or
remedies the Collateral Agent shall at any time pursue, relinquish, subordinate, modify or take with respect thereto, without in any way modifying or affecting any of them or the Secured Obligations or any of the rights of the Collateral Agent or
the holders of the Secured Obligations under this Pledge Agreement, under any of the other Loan Documents or under any other document relating to the Secured Obligations. 
 25. Limitation on Guarantor Obligations. Notwithstanding any provision to the contrary contained herein, in any other of the Loan Documents or in any other documents relating to the Secured
Obligations, the obligations of each Guarantor under the Credit Agreement and the other Loan Documents shall be limited to an aggregate amount equal to the largest amount that would not render such obligations subject to avoidance under
Section 548 of the Bankruptcy Code of the United States or any other applicable Debtor Relief Law (including any comparable provisions of any applicable state, or Canadian provincial, territorial or federal law). 

26. Replacement of Existing Pledge Agreement. As of the date hereof, the Existing Pledge Agreement shall be amended, restated and
superseded and replaced in its entirety by this Pledge Agreement. 
 [Signatures on Following Pages] 

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  
 14 

 Each of the parties hereto has caused a counterpart of this Pledge Agreement to be duly
executed and delivered as of the date first above written. 
  

							
	PLEDGOR:	 		 	ARMSTRONG WORLD INDUSTRIES, INC.,
		 		 	a Pennsylvania corporation
				
		 		 	By:	 	  

				
		 		 	Name:	 	  

				
		 		 	Title:	 	  

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  

 Accepted and agreed to as of the date first above written. 

 

			
	 BANK OF AMERICA, N.A.,
 as Collateral Agent

		
	By:	 	  

	Name:	 	
	Title:	 	

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  

 SCHEDULES 

 

			
	Schedule 2(a)	  	Pledged Stock

 EXHIBITS 
  

			
	Exhibit 4(a)	  	Form of Stock Power

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  

 Schedule 2(a) 
 to 
 Amended and Restated Pledge Agreement 

dated as of March [15], 2013 
 in favour of Bank of America, N.A., 
 as Collateral Agent 

PLEDGED STOCK 
  

					
	 Subsidiary
	  	Class of Shares	  	Number held by Pledgor
			
	 Armstrong World Industries Canada Ltd.
	  	Common	  	500

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT 

  

 Exhibit 4(a) 
 to 
 Amended and Restated Pledge Agreement 

dated as of March [15], 2013 
 in favour of Bank of America, N.A., 
 as Collateral Agent 

Form of Irrevocable Stock Power 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to 
  

					
		  	  
	  	

 the following shares of capital stock of
                                        
[ISSUER], a                          corporation: 

 

			
	 No. of Shares
	  	 Certificate No.

		  	
		  	

 and irrevocably appoints
                                         
                    its agent and attorney-in-fact to transfer all or any part of such capital stock and to take all necessary and appropriate action to
effect any such transfer. The agent and attorney-in-fact may substitute and appoint one or more persons to act for him. The effectiveness of a transfer pursuant to this stock power shall be subject to any and all transfer restrictions referenced on
the face of the certificates evidencing such interest or in the certificate of incorporation or bylaws of the subject corporation, to the extent they may from time to time exist. 

 

			
	ARMSTRONG WORLD INDUSTRIES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 ARMSTRONG
WORLD INDUSTRIES, INC. 
 AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENTEX-10.1

 Exhibit 10.1 
  

 
  

SALE SUPPLEMENT 
 dated as of March 13, 2013 
 between 

OCWEN LOAN SERVICING, LLC, as Seller, 
 HLSS HOLDINGS, LLC, as Purchaser 
 and 

HOME LOAN SERVICING SOLUTIONS, LTD., as Purchaser 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	ARTICLE 1 DEFINITIONS; REFERENCE TO MASTER SERVICING RIGHTS PURCHASE AGREEMENT	  	 	1	  
		
	 1.1 Definitions
	  	 	1	  
		
	 1.2 Reference to the Master Servicing Rights Purchase Agreement
	  	 	7	  
		
	ARTICLE 2 PURCHASE AND SALE OF SERVICING RIGHTS AND RIGHTS TO MSRS; ASSUMED LIABILITIES	  	 	7	  
		
	 2.1 Assignment and Conveyance of Rights to MSRs
	  	 	7	  
		
	 2.2 Automatic Assignment and Conveyance of Servicing Rights
	  	 	8	  
		
	 2.3 MSR Purchase Price
	  	 	8	  
		
	 2.4 Assumed Liabilities and Excluded Liabilities
	  	 	8	  
		
	 2.5 Remittance of Excess Servicing Fees, Servicing Advance Receivables Fees and Related Amounts
	  	 	10	  
		
	 2.6 Payment of Estimated Purchase Price
	  	 	10	  
		
	ARTICLE 3 PURCHASE AND SALE OF SERVICING ADVANCE RECEIVABLES	  	 	10	  
		
	 3.1 Assignment and Conveyance of Servicing Advance Receivables
	  	 	10	  
		
	 3.2 Servicing Advance Receivables Purchase Price
	  	 	11	  
		
	 3.3 Servicing Advances
	  	 	11	  
		
	 3.4 Reimbursement of Servicing Advances
	  	 	12	  
		
	 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF SELLER
	  	 	12	  
		
	 4.1 General Representations
	  	 	12	  
		
	 4.2 Title to Transferred Assets
	  	 	12	  
		
	 4.3 Right to receive Servicing Fees
	  	 	12	  
		
	 4.4 Servicing Agreements and Underlying Documents
	  	 	12	  
		
	 4.5 Mortgage Pool Information, Related Matters
	  	 	12	  
		
	 4.6 Enforceability of Servicing Agreements
	  	 	13	  
		
	 4.7 Compliance With Servicing Agreements
	  	 	13	  
		
	 4.8 No Recourse
	  	 	14	  
		
	 4.9 The Mortgage Loans
	  	 	14	  
		
	 4.10 Servicing Advance Receivables
	  	 	16	  
		
	 4.11 Servicing Agreement Consents and Other Third Party Approvals
	  	 	16	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 4.12 Servicing Advance Financing Agreements
	  	 	17	  
		
	 4.13 Anti-Money Laundering Laws
	  	 	17	  
		
	 4.14 Servicer Ratings
	  	 	17	  
		
	 4.15 Eligible Servicer
	  	 	17	  
		
	 4.16 HAMP
	  	 	17	  
		
	ARTICLE 5 CONDITIONS PRECEDENT	  	 	17	  
		
	 5.1 Conditions to the Purchase of the Rights to MSRs and the Advance SPEs
	  	 	17	  
		
	 ARTICLE 6 SERVICING MATTERS
	  	 	18	  
		
	 6.1 Seller as Servicer
	  	 	18	  
		
	 6.2 Servicing
	  	 	18	  
		
	 6.3 Collections from Obligors and Remittances
	  	 	18	  
		
	 6.4 Servicing Practices
	  	 	19	  
		
	 6.5 Servicing Reports
	  	 	19	  
		
	 6.6 Escrow Accounts
	  	 	19	  
		
	 6.7 Notices and Financial Information
	  	 	19	  
		
	 6.8 Defaults under Deferred Servicing Agreements
	  	 	19	  
		
	 6.9 Continuity of Business
	  	 	20	  
		
	 6.10 Optional Termination or Clean Up Calls
	  	 	20	  
		
	 6.11 Amendments to Deferred Servicing Agreements; Transfer of Servicing Rights
	  	 	20	  
		
	 6.12 Assumption of Servicing Duties; Transfer of Rights to MSRs and Servicing Rights
	  	 	20	  
		
	 6.13 Termination Event
	  	 	21	  
		
	 6.14 Servicing Transfer
	  	 	21	  
		
	 6.15 Incorporation of Provisions from Subservicing Agreement
	  	 	21	  
		
	 ARTICLE 7 SELLER SERVICING FEES; COSTS AND EXPENSES
	  	 	21	  
		
	 7.1 Seller Monthly Servicing Fee
	  	 	21	  
		
	 7.2 Performance Fee
	  	 	21	  
		
	 7.3 Costs and Expenses
	  	 	22	  
		
	 7.4 Ancillary Income
	  	 	22	  
		
	 7.5 Calculation and Payment
	  	 	22	  

  
 -ii-

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 7.6 No Offset
	  	 	23	  
		
	 7.7 Servicing Fee Reset Date
	  	 	23	  
		
	ARTICLE 8 INDEMNIFICATION	  	 	23	  
		
	 8.1 Seller Indemnification of Purchasers
	  	 	23	  
		
	 8.2 Purchasers Indemnification of Seller
	  	 	23	  
		
	 8.3 Indemnification Procedures
	  	 	24	  
		
	 8.4 Tax Treatment
	  	 	25	  
		
	 8.5 Survival
	  	 	25	  
		
	 8.6 Additional Indemnification
	  	 	25	  
		
	 8.7 Specific Performance
	  	 	25	  
		
	ARTICLE 9 GRANT OF SECURITY INTEREST	  	 	26	  
		
	 9.1 Granting Clause
	  	 	26	  
		
	ARTICLE 10 MISCELLANEOUS PROVISIONS	  	 	27	  
		
	 10.1 Further Assurances
	  	 	27	  
		
	 10.2 Compliance with Applicable Laws; Licenses
	  	 	27	  
		
	 10.3 Merger, Consolidation, Etc.
	  	 	27	  
		
	 10.4 Annual Officer’s Certificate
	  	 	27	  
		
	 10.5 Accounting Treatment
	  	 	28	  
		
	 10.6 Incorporation
	  	 	28	  

  

			
	Exhibit A	  	Form of Monthly Remittance Report
		
	Schedule I	  	Servicing Agreements
	Schedule II	  	Underlying Documents
	Schedule III	  	Retained Servicing Fee Percentage
	Schedule IV	  	Target Ratio
	Schedule V	  	Valuation Percentage
	Schedule VI	  	Amortization Percentage

  
 -iii-

 SALE SUPPLEMENT 

This Sale Supplement, dated as of March 13, 2013 (this “Sale Supplement”), is between Ocwen Loan Servicing, LLC, a
Delaware limited liability company (“Seller”), HLSS Holdings, LLC, a Delaware limited liability company (“Holdings”) and Home Loan Servicing Solutions, Ltd. (“HLSS” and, together with Holdings, the
“Purchasers”): 
 WITNESSETH: 

WHEREAS, Seller and Purchasers are parties to that certain Master Servicing Rights Purchase Agreement, dated as of February 10, 2012
(as amended, supplemented and modified from time to time), and that certain Master Servicing Rights Purchase Agreement, dated as of October 1, 2012 (as amended, supplemented and modified from time to time, the “Agreement”), in
each case with respect to the sale by Seller and the purchase by Purchasers of the Servicing Rights and other assets; and 

WHEREAS, Seller and Purchasers desire to enter into the transactions described in the Agreement as supplemented by this Sale Supplement;

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in
consideration of the mutual covenants herein contained, the parties hereto hereby agree as follows: 
 ARTICLE 1

 DEFINITIONS; REFERENCE TO MASTER SERVICING RIGHTS PURCHASE AGREEMENT 

1.1 Definitions. (a) For purposes of this Sale Supplement, the following capitalized terms shall have the respective meanings
set forth or referenced below: 
 “Additional Servicing Advance Receivable”: As defined in Section 3.1.

 “Advance SPEs”: Each of HLSS Servicer Advance Facility Transferor, LLC, a Delaware limited liability company, and
HLSS Servicer Advance Receivables Trust, a Delaware statutory trust. 
 “Amortization Percentage”: For each calendar
month following the Closing Date, the percentage set forth on Schedule VI to this Sale Supplement for such calendar month. 
 “Assumed Liabilities”: As defined in Section 2.4. 

“Book Value” means, with respect to the Rights to MSRs related to any Deferred Servicing Agreement, as of a specified date, an
amount equal to the amortized book value of such Rights to MSRs on HLSS’s financial statements as of such date. 

  
 -1-

 “Closing Date”: March 13, 2013; provided that, with respect to
Section 5.3 of the Agreement, the Closing Date shall be the related Servicing Transfer Date. 
 “Closing
Statement”: The statement delivered by Seller to Purchasers on the Closing Statement Delivery Date setting forth the good faith calculation of the Estimated Purchase Price. 

“Closing Statement Delivery Date”: The Closing Date, unless otherwise agreed by Seller and Purchasers. 

“Consent Period”: For each Deferred Servicing Agreement and each related Deferred Servicing Right, the period, if any, from and
including the Closing Date to and including the related Servicing Transfer Date. 
 “Cut-off Date”: March 12,
2013, or such other date as is agreed by Seller and Purchasers. 
 “Deferred Mortgage Loan”: A mortgage loan subject
to a Deferred Servicing Agreement. 
 “Deferred Servicing Agreement”: As of any date of determination, each Servicing
Agreement that is not a Transferred Servicing Agreement on such date. For avoidance of doubt, on the Closing Date each Servicing Agreement is a Deferred Servicing Agreement. 
 “Deferred Servicing Right”: As of any date of determination, each Servicing Right arising under a Servicing Agreement that is a Deferred Servicing Agreement on such date. 

“Excess Servicing Advances”: For any calendar month, the amount, if any, by which the outstanding Servicer Advances with
respect to the Servicing Agreements as of the last day of such calendar month exceeds an amount equal to (a) the Target Ratio for such calendar month multiplied by (b) the unpaid principal balance of the Mortgage Loans subject to the
Servicing Agreements as of the last day of such calendar month. 
 “Excess Servicing Fees”: For any calendar month, an
amount equal to the product of (i) 15.0 annualized basis points and (ii) the aggregate unpaid principal balance of the Mortgage Loans underlying the Rights to MSRs as of the close of business on the last Business Day of the prior calendar
month. 
 “Excluded Liabilities”: As defined in Section 2.4(c). 

“Fannie Mae”: As defined in the Subservicing Agreement. 

“Indemnified Person”: A Purchaser Indemnified Party or a Seller Indemnified Party, as the case may be. 

“Indemnifying Person”: The Seller pursuant to Section 8.1 or the Purchasers pursuant to Section 8.2, as
the case may be. 
 “Initial Servicing Advance Receivable”: As defined in Section 3.1. 

  
 -2-

 “Investor”: With respect to any Securitization Transaction, any holder or other
beneficial owner of any securities issued by the related Trust. 
 “Liability”: As defined in Section 8.1.

 “Monthly Remittance Report”: With respect to each Deferred Servicing Agreement, a report substantially in the form
attached as Exhibit A to this Sale Supplement or in such other form as may be agreed to by Seller and Purchasers from time to time. 
 “Monthly Servicing Fee”: For each calendar month, the Base Subservicing Fee (as defined in the Subservicing Supplement) for such calendar month together with the Seller Monthly Servicing Fee for
such calendar month. 
 “Monthly Servicing Oversight Report”: A report with respect to all of the Deferred Servicing
Agreements and related Mortgage Loans in such form as may be agreed to by Seller and Purchasers from time to time. 
 “MSR
Purchase Price”: For each Servicing Agreement, an amount equal to the product of (i) the Valuation Percentage for such Servicing Agreement and (ii) the aggregate unpaid principal balance of the Mortgage Loans subject to such Servicing
Agreement as of the Closing Date. 
 “P&I Advance”: As defined in the Subservicing Agreement. 

“Performance Fee”: As defined in Section 7.2. 

“Purchaser Indemnified Party”: As defined in Section 8.2. 

“Purchase Price”: The sum of (a) the aggregate MSR Purchase Price for all of the Servicing Agreements and (b) the
aggregate Servicing Advance Receivables Purchase Price for any Initial Servicing Advance Receivables. 
 “Retained
Servicing Fee”: For any calendar month, an amount equal to the sum of (a) the product of the Retained Servicing Fee Percentage for such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Deferred
Servicing Agreements and the Transferred Servicing Agreements during such calendar month and (b) the Retained Servicing Fee Shortfall, if any, for the immediately prior calendar month. 

“Retained Servicing Fee Percentage”: For any calendar month, the percentage set forth on Schedule III to this Sale
Supplement. 
 “Retained Servicing Fee Shortfall”: For any calendar month, beginning in March 2013, an amount equal to
the excess, if any, of (a) the Retained Servicing Fee for such calendar month over (b) the excess, if any, of (x) the aggregate Servicing Advance Receivables Fees actually received by Holdings with respect to the Deferred Servicing
Agreements and pursuant to the Transferred Servicing Agreements during such calendar month (whether directly pursuant to such Transferred Servicing Agreements or pursuant to this Sale Supplement) over (y) the Monthly Servicing Fee for such
calendar month. 

  
 -3-

 “Rights to MSRs”: For each Servicing Agreement, each of the following assets:

 (a) all Servicing Fees payable to Seller as of or after the Closing Date under such Servicing Agreement and the right to
receive all Servicing Fees accruing and payable as of or after the Closing Date under such Servicing Agreement; 
 (b) the right
to purchase the Servicing Rights pursuant to Section 2.2 of this Sale Supplement; and 
 (c) any proceeds of any of
the foregoing. 
 “Sale Date”: For each Servicing Advance Receivable, the date on which such Servicing Advance
Receivable is transferred to Holdings pursuant to Section 3.1. 
 “Seller Indemnified Party”: As defined
in Section 8.1. 
 “Seller Monthly Servicing Fee”: As defined in Section 7.1. 

“Servicing Advance Financing Agreements”: Each of that certain Second Amended and Restated Indenture, dated as of
September 13, 2012, among HLSS Servicer Advance Receivables Trust, as issuer, Deutsche Bank National Trust Company, as indenture trustee, calculation agent, paying agent and securities intermediary, Holdings, as administrator and servicer,
Seller, as servicer and as a subservicer, and Barclays Bank plc and Wells Fargo Securities, LLC, as administrative agents, and each other “Transaction Document” as such term is defined therein, in each case as the same may be amended from
time to time. 
 “Servicing Advance Payment Date”: (a) For any Initial Servicing Advance Receivable, the Closing
Date and (b) for any Additional Servicing Advance Receivable, the Funding Date (as defined in the Servicing Advance Financing Agreement) for such Additional Servicing Advance Receivable. 

“Servicing Advance Receivable”: For each Servicer Advance, the right to receive reimbursement for such Servicer Advance under
the Servicing Agreement pursuant to which such Servicer Advance was made. 
 “Servicing Advance Receivables Fees”: For
any calendar month, an amount equal to the excess of the aggregate amount of Servicing Fees paid to Seller for such calendar month under each Servicing Agreement over the Excess Servicing Fees for such calendar month. 

“Servicing Advance Receivable Purchase Price”: With respect to each Servicing Advance Payment Date, for each Servicing Advance
Receivable, the outstanding amount that is reimbursable under the related Servicing Agreement with respect to such Servicing Advance Receivable as of such Servicing Advance Payment Date. 

  
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 “Servicing Agreement”: Each of the servicing agreements described on Schedule
I and each of the Underlying Documents described on Schedule II governing the rights, duties and obligations of Seller as servicer under such agreements. 
 “Servicing Fee Reset Date”: The date which is six (6) years after the Closing Date. 
 “Servicing Rights Assets”: As defined in Section 2.2. 

“Servicing Transfer Date”: With respect to each Servicing Agreement, the date on which all of the Third Party Consents related
to such Servicing Agreement necessary to transfer the related Servicing Rights to Purchasers are received or such later date mutually agreed to by Seller and Purchasers. 
 “Special Damages”: As defined in Section 8.3(d). 

“Subservicing Agreement”: That certain Master Subservicing Agreement, dated as of October 1, 2012, between the Seller, as
subservicer, and Holdings, as servicer, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time. 
 “Subservicing Supplement”: That certain Subservicing Supplement, dated as of March 13, 2013, between the Seller, as subservicer, and Holdings, as servicer, as the same may be amended,
amended and restated, supplemented or otherwise modified from time to time. 
 “Summary Schedule”: As defined in
Section 4.5(a). 
 “Target Ratio” for each calendar month shall mean the amount specified in Schedule
IV with respect to such month. 
 “Termination Event” means the occurrence of any one or more of the following
events (whatever the reason for the occurrence of such event and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body): 
 (a) Seller fails to remit any payment required to be made under the terms of this Sale
Supplement (to the extent not resulting solely from Holdings failing to purchase a Servicing Advance Receivable required to be purchased by Holdings under this Sale Supplement), which continues unremedied for a period of one (1) Business Day
after the date on which written notice of such failure shall have been given by Holdings to Seller; 
 (b) Seller fails to
deliver any required information or report that is complete in all material respects as required pursuant to this Sale Supplement in the manner and time frame set forth herein, which failure continues unremedied for a period of two (2) Business
Days after the date on which written notice of such failure shall have been given to Seller by Holdings; 

  
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 (c) Seller fails to observe or perform in any material respect any other covenant or
agreement of Seller set forth in the Agreement or this Sale Supplement, which failure continues unremedied for a period of thirty (30) days after the date on which written notice of such failure shall have been given to Seller by Holdings;
provided however, in the event that any such default is incurable by its own terms, a Termination Event shall be deemed to occur immediately hereunder without regard to the thirty (30) day cure period set forth above; 

(d) a material breach by Seller of any representation and warranty made by it in the Agreement or this Sale Supplement, which breach
continues unremedied for a period of thirty (30) days after the date on which written notice of such failure shall have been given to Seller by Holdings; provided, however, in the event that any such default is incurable by its own terms, a
Termination Event shall be deemed to occur immediately hereunder without regard to the thirty (30) day cure period set forth above; 
 (e) Seller fails to maintain residential primary servicer ratings for subprime loans of at least “Average” by Standard & Poor’s Rating Services, a division of Standards &
Poor’s Financial Services LLC (or its successor in interest), “SQ3” by Moody’s Investors Service, Inc. (or its successor in interest) and “RPS4+” and “RSS4+” by Fitch Ratings (or its successor in interest);

 (f) Seller ceases to be a Fannie Mae, Freddie Mac or FHA approved servicer; 

(g) the occurrence of a Material Adverse Event; 
 (h) any of the conditions specified in the applicable “Servicer Default”, “Servicer Event of Default,” “Event of Default,” “Servicing Default” or “Servicer
Event of Termination” or similar sections of any Deferred Servicing Agreement or any related Underlying Document shall have occurred with respect to Seller for any reason not caused by Purchasers (other than as a result of any delinquency or
loss trigger which was already triggered as of the Closing Date with respect to such Deferred Servicing Agreement); provided that Seller shall be entitled to any applicable cure period set forth in such Deferred Servicing Agreement or Underlying
Document; 
 (i) a decree or order of a court or agency or supervisory authority having jurisdiction for the appointment of a
conservator or receiver or liquidator in any insolvency, bankruptcy, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against Seller and
such decree or order shall have remained in force undischarged or unstayed for a period of thirty (30) days; 
 (j) Seller
shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, bankruptcy, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to Seller or of or relating to all or
substantially all of its property; or 
 (k) Seller shall admit in writing its inability to pay its debts generally as they
become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations. 

“Third-Party Claim”: As defined in Section 8.3(b). 

  
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 “Transferred Assets”: The Rights to MSRs and the Transferred Servicing Rights.

 “Transferred Receivables Assets”: As defined in Section 3.1. 

“Transferred Servicing Agreement”: As of any date of determination, a Servicing Agreement with respect to which the related
Servicing Rights have been transferred to Purchasers pursuant to Section 2.2 of this Sale Supplement or to its designee in accordance with the terms of this Sale Supplement on or prior to such date. For the avoidance of doubt, on the
Closing Date no Servicing Agreement is a Transferred Servicing Agreement. 
 “Transferred Servicing Rights”: As of any
date of determination, any Servicing Rights that have been transferred to HLSS pursuant to Section 2.2 of this Sale Supplement on or prior to such date. 
 “UCC”: As defined in Section 3.1. 
 “Valuation
Percentage”: For each Servicing Agreement, the valuation percentage for such Servicing Agreement as set forth in Schedule V hereto. 
 (b) Any capitalized term used but not defined in this Sale Supplement shall have the meaning assigned to such term in the Agreement. 

1.2 Reference to the Master Servicing Rights Purchase Agreement. Each of Seller and Purchasers agrees that (a) this Sale
Supplement is a “Sale Supplement” executed pursuant to Section 2.1 of the Agreement, (b) the terms of this Sale Supplement are hereby incorporated into the Agreement with respect to the Servicing Agreements and the related
Mortgage Loans to the extent set forth therein and herein, and (c) the terms of this Sale Supplement apply to the Servicing Agreements specified herein and not to any other “Servicing Agreement” as that term is used in the Agreement.
In the event of any conflict between the provisions of this Sale Supplement and the Agreement, the terms of this Sale Supplement shall prevail. 
 ARTICLE 2 
 PURCHASE AND SALE OF SERVICING RIGHTS AND RIGHTS TO MSRS;
ASSUMED LIABILITIES 
 2.1 Assignment and Conveyance of Rights to MSRs. 

(a) As of the Closing Date, subject to the terms and conditions set forth in the Agreement and this Sale Supplement, Seller does hereby
sell, convey, assign and transfer, in each case, without recourse except as provided herein, free and clear of any Liens, (i) to HLSS all of its right, title and interest in and to all of the Excess Servicing Fees for each of the Servicing
Agreements, and (ii) to Holdings, any and all other right, title and interest in and to all of the Rights to MSRs for each of the Servicing Agreements. 

  
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 (b) On and after the Closing Date, Holdings shall be obligated to maintain a complete and
accurate list of Servicing Agreements that are Deferred Servicing Agreements and Transferred Servicing Agreements, as the same shall be amended and modified from time to time in connection with Deferred Servicing Agreements becoming Transferred
Servicing Agreements as contemplated by the terms and provisions of this Sale Supplement. The list of Deferred Servicing Agreements and Transferred Servicing Agreements maintained by Purchasers under this Section 2.1(b) shall be
(x) available for inspection by Seller at any time during normal business hours and (y) presumed to be accurate absent manifest error on the part of Purchaser. 
 2.2 Automatic Assignment and Conveyance of Servicing Rights. As of the Servicing Transfer Date with respect to each Servicing Agreement, Seller does hereby sell, convey, assign and transfer to
Holdings, without recourse except as provided herein, free and clear of any Liens, without further action by any Person, all of its right, title and interest in and to the following assets (the “Servicing Rights Assets”):

 (a) the Servicing Rights in respect of all of the Mortgage Loans and REO Properties related to such Servicing Agreement, in
each case together with all related security, collections and payments thereon and proceeds of the conversion, voluntary or involuntary of the foregoing, other than the Excess Servicing Fees previously conveyed to HLSS pursuant to Section 2.1;

 (b) all Ancillary Income and Prepayment Interest Excess received as of or after the related Servicing Transfer Date under such
Servicing Agreements and any rights to exercise any optional termination or clean-up call provisions under such Servicing Agreements; 
 (c) all Custodial Accounts and Escrow Accounts related to such Servicing Agreement and amounts on deposit therein; 
 (d) all files and records in Seller’s possession or control, including the related Database, relating to the Servicing Rights Assets specified in clauses (a), (b) and (c); 

(e) all causes of action, lawsuits, judgments, claims, refunds, choses in action, rights of recovery, rights of set-off, rights of
recoupment, demands and any other rights or claims of any nature, whether arising by way of counterclaim or otherwise, available to or being pursued by Seller to the extent related exclusively to such Servicing Rights Assets and/or the Assumed
Liabilities; and 
 (f) any proceeds of any of the foregoing. 

2.3 MSR Purchase Price. Subject to the conditions set forth in this Sale Supplement and the Agreement, as consideration for the
purchase of the Rights to MSRs and the Servicing Rights Assets, HLSS shall pay the portion of the MSR Purchase Price attributable to the value of the Excess Servicing Fees for each Servicing Agreement, and Holdings shall pay the portion of the MSR
Purchase Price attributable to the value of the remainder of the Rights to MSRs and the Servicing Rights Assets, in each case for each Servicing Agreement, to Seller. 
 2.4 Assumed Liabilities and Excluded Liabilities. 
 (a) Upon the terms and
subject to the conditions set forth herein and in the Agreement, Holdings shall assume, (i) prior to the Servicer Transfer Date for each Servicing Agreement, and solely as between Holdings and Seller, all of the duties, obligations and

  
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liabilities of Seller (other than the Excluded Liabilities), as servicer but subject to such Servicing Agreements, and provided that Seller will continue to act as the servicer as set forth
herein and in no event shall Holdings be a subservicer, subcontractor or servicer within the meaning of a Servicing Agreement prior to the related Servicing Transfer Date and (ii) as of or after the Servicing Transfer Date for each Servicing
Agreement, all of the duties, obligations, and liabilities of Seller (other than the Excluded Liabilities) as servicer accrued and pertaining solely to the period from and after such Servicing Transfer Date relating to the Servicing Rights that are
subject to such Servicing Agreement (the “Assumed Liabilities”). 
 (b) Holdings hereby agrees to act as
servicer under each Servicing Agreement following the related Servicing Transfer Date and assumes responsibility for the due and punctual performance and observance of each covenant and condition to be performed or observed by the servicer under the
applicable Servicing Agreement, including the obligation to service each Mortgage Loan in accordance with the terms of the related Servicing Agreement and to pay any Excess Servicing Fees to HLSS on and after such Servicing Transfer Date;
provided, however, that the parties hereto acknowledge and agree that neither Purchaser nor any successor servicer assumes any liabilities of Seller, or any obligations of Seller relating to any period of time prior to the
applicable Servicing Transfer Date. Seller hereby acknowledges that neither this Sale Supplement nor the Agreement limits or otherwise releases it from its liabilities for its acts or omissions as the servicer under the Servicing Agreements prior to
the related Servicing Transfer Date. Holdings hereby acknowledges that Seller shall have no further obligation as servicer under any of the Servicing Agreements on and after the related Servicing Transfer Date, except to the extent set forth in this
Sale Supplement, the Agreement, the Subservicing Agreement and the Subservicing Supplement. 
 (c) Notwithstanding anything to
the contrary contained herein, Purchasers do not assume any duties, obligations or liabilities of any kind, whether known, unknown, contingent or otherwise, (i) not relating to the Transferred Servicing Rights or the Assumed Liabilities,
(ii) attributable to any acts or omissions to act taken or omitted to be taken by Seller (or any of its Affiliates, agents, contractors or representatives, including, without limitation, any subservicer of the Mortgage Loans) prior to the
applicable Servicing Transfer Date, (iii) attributable to any actions, causes of action, claims, suits or proceedings or violations of law or regulation attributable to any acts or omissions to act taken or omitted to be taken by Seller (or any
of its Affiliates, agents, contractors or representatives, including, without limitation, any subservicer of the Mortgage Loans) prior to the applicable Servicing Transfer Date or (iv) relating to any representation and warranty made by Seller
or any of its Affiliates with respect to the related Mortgage Loans or the Transferred Assets (the “Excluded Liabilities”). Without limiting the generality of the foregoing, it is not the intention that the assumption by Purchasers
of the Assumed Liabilities shall in any way enlarge the rights of any third parties relating thereto. Nothing contained in the Agreement or this Sale Supplement shall prevent any party hereto from contesting matters relating to the Assumed
Liabilities with any third party obligee. 
 (d) From and after the related Servicing Transfer Date, except as otherwise
provided for in Section 8.3 of this Sale Supplement, (i) Holdings shall have complete control over the payment, settlement or other disposition of the Assumed Liabilities and the right to commence, control and conduct all
negotiations and proceedings with respect thereto, subject to the terms of the related Servicing Agreements and (ii) Seller shall have complete control over the payment, 

  
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settlement or other disposition of the Excluded Liabilities and the right to commence, control and conduct all negotiations and proceedings with respect thereto. Except as otherwise provided in
this Sale Supplement, (i) Seller shall promptly notify Holdings of any claim made against Seller with respect to the Assumed Liabilities or the Transferred Assets and shall not voluntarily make any payment of, settle or offer to settle, or
consent or compromise or admit liability with respect to, any Assumed Liabilities or Transferred Assets without the prior written consent of Holdings and (ii) Holdings shall promptly notify Seller of any claim made against Purchasers with
respect to the Excluded Liabilities and shall not voluntarily make any payment of, settle or offer to settle, or consent or compromise or admit liability with respect to, any Excluded Liabilities without the prior written consent of Seller.

 2.5 Remittance of Excess Servicing Fees, Servicing Advance Receivables Fees and Related Amounts. Seller shall, to the
extent permitted under any Deferred Servicing Agreement cause (i) any Excess Servicing Fees to be deposited directly into HLSS’s account in accordance with HLSS’s written directions and (ii) any Servicing Advance Receivables Fees
to be deposited directly into Holdings’ account in accordance with Holdings’ written directions. In any case, Seller shall within one (1) Business Day of the receipt thereof, remit to the related Purchaser any such amounts that are
received by Seller under any Deferred Servicing Agreement after the Closing Date. Any such amounts shall be remitted in accordance with such Purchaser’s written directions. 

2.6 Payment of Estimated Purchase Price. Subject to the conditions set forth in this Sale Supplement and the Agreement, HLSS and
Holdings shall pay the Estimated Purchase Price to Seller at the Closing. The Estimated Purchase Price shall be reconciled to the final Purchase Price in accordance with Section 2.5 of the Agreement. 

ARTICLE 3 

PURCHASE AND SALE OF SERVICING ADVANCE RECEIVABLES 
 3.1 Assignment and Conveyance of Servicing Advance Receivables. Commencing on the Closing Date, and continuing until the close of business on the earlier of the related Servicing Transfer Date or
date of Seller’s termination as servicer pursuant to such Servicing Agreement, subject to the terms and conditions set forth in the Agreement and this Sale Supplement, Seller hereby sells, conveys, assigns and transfers to Holdings, and
Holdings acquires from Seller, without recourse except as provided herein, free and clear of any Liens, all of Seller’s right, title and interest, whether now owned or hereafter acquired, in, to and under each Servicing Advance Receivable
(i) in existence on the Closing Date that arose under the Servicing Agreements and is owned by Seller as of the Closing Date, if any (the “Initial Servicing Advance Receivables”), (ii) in existence on any Business Day on
or after the Closing Date that arises under any Servicing Agreement prior to the earlier of the related Servicing Transfer Date or date of Seller’s termination as servicer pursuant to such Servicing Agreement (“Additional Servicing
Advance Receivables”), and (iii) in the case of both Initial Servicing Advance Receivables and Additional Servicing Advance Receivables, all monies due or to become due and all amounts received or receivable with respect thereto and
all proceeds (including “proceeds” as defined in the Uniform Commercial Code in effect in all applicable jurisdictions (the “UCC”)), together with all rights of Seller to enforce such Initial Servicing

  
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Advance Receivables and Additional Servicing Advance Receivables (collectively, the “Transferred Receivables Assets”). Until the related Servicing Transfer Date, Seller shall,
automatically and without any further action on its part, sell, assign, transfer and convey to Holdings, on each Business Day, each Additional Servicing Advance Receivable not previously transferred to Holdings and Holdings shall purchase each such
Additional Servicing Advance Receivable. The parties acknowledge and agree that so long as the Servicing Advance Receivables with respect to a Servicing Agreement are being sold by Holdings to the Advance SPEs pursuant to the Servicing Advance
Financing Agreements, the sale of such Servicing Advance Receivables by Seller to Holdings shall be made pursuant to and in accordance with the provisions of the Servicing Advance Financing Agreements, and Seller covenants and agrees to comply with
the provisions of such Servicing Advance Financing Agreements with respect to such Servicing Advance Receivables. 
 3.2
Servicing Advance Receivables Purchase Price. In consideration of the sale, assignment, transfer and conveyance to Holdings of the Servicing Advance Receivables and related Transferred Receivables Assets, on the terms and subject to the
conditions set forth in this Sale Supplement, Holdings shall, on each related Servicing Advance Payment Date, pay and deliver to Seller, in immediately available funds, a purchase price equal to the Servicing Advance Receivables Purchase Price for
such Servicing Advance Receivables sold on such date; provided that Seller shall have complied with the terms of Section 3.1 and Section 3.3 with respect to the related Servicing Advance Receivable. Subject to the
proviso of the immediately preceding sentence, to the extent any P&I Advances are required to be made under the terms of the Deferred Servicing Agreements, as determined by Seller and set forth in the applicable Monthly Remittance Report,
Holdings shall, on the date the related P&I Advance is required to be made under the related Deferred Servicing Agreement, deposit the Servicing Advance Receivable Purchase Price for such P&I Advances into either the applicable Custodial
Account or other applicable account held by the related trustee, master servicer, securities administrator, or trust administrator, as the case may be, in accordance with the requirements of the related Deferred Servicing Agreement (which may be
done directly by Holdings or though an account established in connection with the Servicing Advance Facility Agreements) in consideration for such P&I Advance. 
 3.3 Servicing Advances. Seller covenants and agrees that each Servicer Advance made by Seller under the Servicing Agreements prior to the related Servicing Transfer Date shall (a) be required
to be made pursuant to the terms of the related Deferred Servicing Agreement and comply with the terms of such Deferred Servicing Agreement and Applicable Law, (b) comply with Seller’s advance policies and stop advance policies and
procedures and not constitute a nonrecoverable Servicer Advance as of the date Seller made such Servicer Advance and (c) be supported by customary backup documentation. Seller agrees to provide prompt notice to Holdings of any Servicer Advance
made by Seller under the Deferred Servicing Agreements and deliver to Holdings such customary backup documentation relating to any Servicer Advance promptly upon request by Holdings. In the event Seller cannot provide, or cause to be provided to
Holdings any customary backup documentation, and Holdings is unable to be reimbursed for such Servicer Advance solely as a result of such failure, Seller shall reimburse Holdings for the amount of such unreimbursed Servicer Advances within five
(5) Business Days of Holdings’ written request, to the extent Holdings paid Seller for such amounts. 

  
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 3.4 Reimbursement of Servicing Advances. Seller shall, to the extent permitted under
any Deferred Servicing Agreement cause the reimbursement of any Servicer Advances under the Deferred Servicing Agreements to be made directly into Holdings’ account in accordance with Holdings’ written directions. In any case, Seller shall
within one (1) Business Day of the receipt thereof, remit to Holdings any amounts that are received by Seller under any Deferred Servicing Agreement after the Closing Date as reimbursement of any Servicer Advance. Any such amounts shall be
remitted in accordance with Holdings’ written directions. 
 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES OF SELLER 
 Seller makes the following representations and warranties to Purchasers as of (a) each of the Closing Date and each Sale Date or (b) as of such other dates specified below: 

4.1 General Representations. Each of the representations and warranties set forth in Article 3 of the Agreement are true and
correct. 
 4.2 Title to Transferred Assets. From and including the Closing Date until such Servicing Rights Assets are
transferred to Holdings under Section 2.2, Seller shall be the sole holder and owner of such Servicing Rights Assets and shall have good and marketable title to the Servicing Rights Assets, free and clear of any Liens. Upon the sale
of such Servicing Rights Assets pursuant to Section 2.2, Seller will transfer to Holdings good and marketable title to the Servicing Rights Assets free and clear of any Liens. Seller is the sole holder and owner of the Rights to MSRs and the
sale and delivery to Purchasers of the Rights to MSRs pursuant to the provisions of this Sale Supplement will transfer to Purchasers good and marketable title to the Rights to MSRs free and clear of any Liens. 

4.3 Right to Receive Servicing Fees. Seller is entitled to receive Servicing Fees, Ancillary Income and Prepayment Interest
Excess as servicer under each Servicing Agreement, and the New York Uniform Commercial Code permits the Seller to transfer the Excess Servicing Fees to HLSS and the remainder of the Rights to MSRs to Holdings under the Agreement and this Sales
Supplement without violation of any applicable Servicing Agreement. 
 4.4 Servicing Agreements and Underlying Documents.
Schedule I hereto contains a list of all Servicing Agreements (other than the Underlying Documents) related to the Servicing Rights that are subject to this Sale Supplement and Schedule II hereto contains a list of all
Underlying Documents related to such Servicing Agreement, in each case with all amendments and modifications thereto, or supplements thereto with respect to such Servicing Rights. 

4.5 Mortgage Pool Information, Related Matters. 
 (a) Seller has delivered to Purchasers one or more summary schedules which set forth information with respect to each Mortgage Pool relating to the Servicing Rights (the “Summary
Schedules”). Seller acknowledges that Purchasers have relied on such Summary Schedules to determine the Purchase Price it was willing to pay for the Transferred Assets. 

  
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 (b) The Summary Schedules, the Mortgage Loan Schedule and the Database are true, accurate
and complete in all material respects as of the related Cut-off Date or such other date specified thereon. 
 (c) The Mortgage
Loan Schedule indicates, by code reference, which of the Mortgage Loans have been converted into REO Properties as of the Cut-off Date. 
 4.6 Enforceability of Servicing Agreements. 
 (a) Seller has delivered to
Purchasers, on or prior to the related Closing Date, true and complete copies of all Servicing Agreements listed on Schedule I hereto and all amendment thereto and all Underlying Documents listed on Schedule II hereto and all
amendments thereto. There are no other written or oral agreements binding upon Seller or Purchasers that modify, supplement or amend any such Servicing Agreement or Underlying Document. 

(b) Seller has not received written notice of any pending or threatened cancellation or partial termination of any Servicing Agreement or
Underlying Document or any written notice of any pending or threatened termination of Seller as servicer of any of the Mortgage Loans. 
 (c) On and prior to the related Servicing Transfer Date, each Servicing Agreement and each of the Underlying Documents is or was a valid and binding obligation of Seller, is or was in full force and
effect and enforceable against Seller in accordance with its terms, except as such enforceability may be affected by bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors rights
generally and general principles of equity (regardless of whether considered in a proceeding of law or in equity). 
 4.7
Compliance With Servicing Agreements. 
 (a) Seller has serviced the Mortgage Loans subject to the Servicing Agreements
and has kept and maintained complete and accurate books and records in connection therewith, all in accordance with Applicable Requirements, has made all remittances required to be made by it under each Servicing Agreement and is otherwise in
compliance in all material respects with all Servicing Agreements and the Applicable Requirements. 
 (b) (i) No early
amortization event, servicer default, servicer termination event, event of default or other default or breach has occurred under any Servicing Agreement or any Underlying Document (except with respect to the delinquency or loss performance triggers
identified in the Summary Schedules), and (ii) no event has occurred, which with the passage of time or the giving of notice or both would: (A) constitute a material default or breach by Seller under any Servicing Agreement, Underlying
Document or under any Applicable Requirement; (B) permit termination, modification or amendment of any such Servicing Agreement or Underlying Document by a third party without the consent of Seller; (C) enable any third party to demand
that Seller or either Purchaser incur any repurchase obligations pursuant to a Servicing Agreement or an Underlying Document or provide indemnification for any amount of losses relating to a breach of a loan representation or warranty;
(D) impose on Seller or either Purchaser sanctions or penalties in respect of any Servicing Agreement or Underlying Document; or (E) rescind any insurance policy or reduce insurance benefits in respect of any Servicing Agreement or
Underlying Document which would result in a material breach or trigger a default of any obligation of Seller under any Servicing Agreement or Underlying Document. 

  
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 (c) There are no agreements currently in place with any subservicers to perform any of
Seller’s duties under the Servicing Agreements. 
 (d) Each report and officer’s certification prepared by Seller as
servicer pursuant to a Servicing Agreement is true and correct in all material respects. Seller has previously made available to Purchasers a correct and complete description of the policies and procedures used by Seller in connection with servicing
the Mortgage Loans related to the Servicing Agreements. 
 (e) In the preceding twelve (12) month period, no Governmental
Authority, Investor, Insurer, rating agency, trustee, master servicer or any other party to a Servicing Agreement has provided written notice to Seller claiming or stating that Seller has violated, breached or not complied with any Applicable
Requirements in connection with the servicing of the related Mortgage Loans which has not been resolved by Seller. 
 (f) All
Custodial Accounts and Escrow Accounts have been established and continuously maintained in accordance with Applicable Requirements. All Custodial Account and Escrow Account balances required by the Mortgage Loans and paid for the account of the
Mortgagors under the related Mortgage Loans have been credited properly to the appropriate account and have been retained in and disbursed from the appropriate account in accordance with Applicable Requirements. 

4.8 No Recourse. None of the Servicing Agreements or other contracts to be assumed by Purchasers hereunder provide for Recourse to
Seller. 
 4.9 The Mortgage Loans. 
 (a) Each of the Mortgage Loans and REO Properties related to each Servicing Agreement has been serviced in accordance with Applicable Requirements in all material respects. 

(b) Except as disclosed on the Mortgage Loan Schedule, in the related Database and in the related Loan File and consistent with the
requirements of the related Servicing Agreement, Seller has not waived any default, breach, violation or event of acceleration under any Mortgage Loan, except to the extent that any such waiver is permitted under the related Servicing Agreement and
reflected in the Mortgage Loan Schedule, the related Database and the related Loan File and the disclosure relating to such waiver is reflected consistently in all material respects among the related Mortgage Loan Schedule, the related Database and
the related Loan File. The Mortgage related to each Mortgage Loan related to the Servicing Agreements has not been satisfied, cancelled or subordinated, in whole or in part, and except as permitted under the related Servicing Agreement, the related
Mortgaged Property has not been released from the lien of the Mortgage, in whole or in part, nor has any instrument been executed that would effect any such release, cancellation, or subordination. 

  
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 (c) There is in force with respect to each Mortgaged Property and REO Property related to a
Servicing Agreement a hazard insurance policy (including any policy in effect under a forced place insurance policy) and, if applicable, a flood insurance policy that provides, at a minimum, for the coverage as required by the applicable Servicing
Agreement. Seller and any prior servicer or subservicer under the Servicing Agreements has taken all necessary steps to maintain any hazard insurance policy, flood insurance policy, primary mortgage insurance policy, and title insurance policy as
required under the Servicing Agreements. 
 (d) Seller is not aware of any repurchase requests or demands being made or
threatened to be made with respect to any Mortgage Loans related to the Servicing Agreements in excess of $10 million with respect to any Servicing Agreement. 
 (e) Except as disclosed in the related Database, Seller has not received notice from any Mortgagor with respect to the Mortgage Loans related to the Servicing Agreements of a request for relief pursuant
to or invoking any of the provisions of the Servicemembers Civil Relief Act or any similar law which would have the effect of suspending or reducing the Mortgagor’s payment obligations under a Mortgage Loan or which would prevent such loan from
going into foreclosure. 
 (f) With respect to each adjustable rate Mortgage Loan, Seller and each prior servicer has complied
in all material respects with all Applicable Requirements regarding interest rate and payment adjustments. 
 (g) Each first
lien Mortgage Loan is covered by a valid and freely assignable, life of loan, tax service contract, and flood tracking services contract, in full force and effect. All flood zone determination information provided to Purchasers is true and correct
in all material respects. 
 (h) There are no actions, claims, litigation or governmental investigations pending or, to the
knowledge of Seller, threatened, against Seller, or with respect to any Servicing Agreement or any Mortgage Loan, which relate to or affect Seller’s rights with respect to the Servicing Rights or Seller’s right to sell, assign and transfer
the Servicing Rights or the Rights to MSRs or to receive any Servicing Fee, which could reasonably be expected to have a Material Adverse Effect individually or in the aggregate. 

(i) Payments received by Seller with respect to any Mortgage Loans related to the Servicing Agreements have been remitted and properly
accounted for as required by Applicable Requirements in all material respects. All funds received by Seller in connection with the satisfaction of Mortgage Loans, including foreclosure proceeds and insurance proceeds from hazard losses, have been
deposited in the appropriate Custodial Account or Escrow Account and all such funds have been applied to pay accrued interest on the Mortgage Loans, to reduce the principal balance of the Mortgage Loans in question, or for reimbursement of repairs
to the Mortgaged Property or as otherwise required by Applicable Requirements or are on deposit in the appropriate Custodial Account or Escrow Account. 
 (j) Seller is not aware of any Person that has issued any notice or written intention to exercise the optional call or optional redemption provisions under any of the related Servicing Agreements.

  
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 (k) No fraudulent action has taken place on the part of Seller in connection with its
servicing of any Mortgage Loan related to the Servicing Agreement. 
 (l) Except with respect to partial releases, actions
required by a divorce decree, assumptions, or as otherwise permitted under Applicable Requirements and documented in the Loan File and the Database, (i) the terms of each Mortgage Note and Mortgage have not been modified by Seller or any prior
servicer, (ii) no party thereto has been released in whole or in part by Seller or any prior servicer and (iii) no part of the Mortgaged Property has been released by Seller or any prior servicer. 

4.10 Servicing Advance Receivables. 
 (a) From and including the Closing Date until such Servicing Advance Receivable is transferred to Holdings under Section 3.1, Seller is the sole holder and owner of each Servicing Advance
Receivable and has good and marketable title to such Servicing Advance Receivable. Seller has not previously assigned, transferred or encumbered the Servicing Advance Receivables other than pursuant to the Agreement, this Sale Supplement and the
Servicing Advance Financing Agreements. The sale and delivery to Holdings of the Servicing Advance Receivables pursuant to the provisions of this Sale Supplement will transfer to Holdings good and marketable title to the Servicing Advance
Receivables free and clear of any Liens (other than the Liens created pursuant to the Servicing Advance Financing Agreements). 

(b) Each Servicing Advance Receivable transferred to Holdings under Section 3.1, is at the time of such transfer a valid and
existing account owing to Seller and is carried on the books of Seller at or less than the amount actually advanced or accrued net of any charge-offs or other adjustments by Seller. Seller has not received any notice from a master servicer,
securities administrator, trustee, Insurer, Investor or any other Person, which disputes or denies a claim by Seller for reimbursement in connection with any such Servicing Advance Receivable. Each Servicer Advance made by Seller (and each trailing
invoice received by Holdings on or after the related Servicing Transfer Date for services rendered prior to such Servicing Transfer Date) that is reimbursed or paid by Holdings to Seller or a third party service provider is fully reimbursable to
Holdings as a Servicer Advance under the terms of the related Servicing Agreement. 
 (c) Each Servicer Advance made by Seller
was made in accordance with Applicable Requirements and Seller’s advance policies and stop advance policies and procedures in all material respects, and is not subject to any set-off or claim that could be asserted against Holdings. No Servicer
Advance made by Seller or any prior servicer under a Servicing Agreement and not reimbursed or paid to Seller prior to the related Sale Date is a Non-Qualified Servicer Advance. Seller has not received any written notice from any Person in which
such Person disputes or denies a claim by Seller for reimbursement in connection with a specifically identified Servicer Advance. 
 4.11 Servicing Agreement Consents and Other Third Party Approvals. None of the execution, delivery and performance of the Agreement and this Sale Supplement by Seller, the transfers of Servicing
Rights under Section 2.2, the transfer of Rights to MSRs under Section 2.1, the transfers of Servicing Advance Receivables under Section 3.1 and the other transactions contemplated hereby require any consent,
approval, waiver, authorization, penalties, notice or filing to be obtained by Seller or Purchasers from, or to be given by Seller or Purchasers to, or made by Seller or Purchasers with, any Person, except for, with respect to the Servicing Rights
Assets, the Third Party Consents. 

  
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 4.12 Servicing Advance Financing Agreements. 

(a) Except as otherwise disclosed to the Purchasers, all of the Servicing Agreements are “Facility Eligible Servicing
Agreements,” and each Servicer Advance to be owned by an Advance SPE is a “Facility Eligible Receivable,” each as defined under the Servicing Advance Financing Agreements. 

(b) All of the representations and warranties of Seller in the Servicing Advance Financing Agreements are true and correct, and no early
amortization event, default, event of default or similar event has occurred under the Servicing Advance Financing Agreements. 

(c) Each of Seller and its Affiliates have complied in all material respects with the terms of the existing Servicing Advance Financing
Agreements. 
 4.13 Anti-Money Laundering Laws. Seller has complied with all applicable anti-money laundering laws and
regulations. 
 4.14 Servicer Ratings. Seller has a residential primary servicer rating for the servicing of subprime
residential mortgage loans issued by S&P, Fitch or Moody’s at or above “Above Average,” “RPS3” and “SQ2-”, respectively. 
 4.15 Eligible Servicer. Seller meets the eligibility requirements of a servicer and a subservicer under the terms of each Servicing Agreement and Underlying Document. 

4.16 HAMP. Seller has entered into a Commitment to Purchase Financial Instrument and Servicer Participation Agreement with Fannie
Mae, as financial agent of the United States, which agreement is in full force and effect. 
 ARTICLE 5 

CONDITIONS PRECEDENT 
 5.1 Conditions to the Purchase of the Rights to MSRs. Purchasers’ obligations to make their respective purchases pursuant to Section 2.1, Holdings’ obligations to purchase the
Servicing Rights pursuant to Section 2.2, and Purchasers’ obligations to pay the Purchase Price (and the Estimated Purchase Price) pursuant to Section 2.3 and Section 2.6 are subject to the satisfaction or
Purchasers’ waiver of each of the conditions set forth in Section 6.1 and Section 6.3 of the Agreement (except the requirement to deliver the Third Party Consents necessary to transfer the Servicing Rights pursuant to
Section 2.2) with respect to each of the Servicing Agreements and each of the Servicing Rights, as applicable, on the Closing Date and the satisfaction of each of the following conditions: 

(a) Seller shall have obtained all consents or approvals required to be obtained to consummate the transfers to Purchasers pursuant to
Section 2.1; 

  
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 (b) The Servicing Advance Facility Agreements shall have been executed and delivered by each
of the parties thereto and all of the conditions precedent to the effectiveness of the Servicing Advance Facility Agreements set forth therein have been satisfied; and 
 (c) The Subservicing Agreement and the Subservicing Supplement shall have been executed and delivered by each of the parties thereto and all of the conditions precedent to the effectiveness of the
Subservicing Agreement and the Subservicing Supplement set forth therein have been satisfied. 
 ARTICLE 6 

SERVICING MATTERS 
 6.1 Seller as Servicer. Except as expressly set forth in this Sale Supplement, Seller shall perform all of its duties and obligations of under each Servicing Agreement until the related Servicing
Transfer Date and shall at all times until the related Servicing Transfer Date meet any standards and fulfill any requirements applicable to Seller under each Servicing Agreement. 

6.2 Servicing. Except as otherwise specifically provided in this Sale Supplement, Seller covenants and agrees to service and
administer each Mortgage Loan related to a Servicing Agreement from and after the Closing Date until the related Servicing Transfer Date in accordance with Applicable Law, the terms of the related Mortgage Loan Documents and any applicable private
mortgage insurance or pool insurance, the standards, requirements, guidelines, procedures, restrictions and provisions of the related Servicing Agreement and Underlying Documents governing the duties of Seller thereunder, this Sale Supplement and
any other Applicable Requirements. Without limiting the foregoing, Seller covenants and agrees that it shall perform its obligations pursuant to this Sale Supplement in a manner that will not cause the termination of Seller as servicer under any
Deferred Servicing Agreement, including any termination based on Seller’s management of delinquency or loss performance with respect to Mortgage Loans related to such Deferred Servicing Agreement. The parties acknowledge and agree that any
termination of Seller as servicer with respect to a Servicing Agreement pursuant to a delinquency or loss performance trigger or for any other reason, other than as a result of a failure by Holdings to purchase Servicing Advance Receivables pursuant
to Section 3.1, shall be deemed to be the result of a breach by Seller of its obligations under this Sale Supplement and the Agreement. In the event of a conflict between a Servicing Agreement and this Article 6, the Servicing
Agreement shall control. 
 6.3 Collections from Obligors and Remittances. Seller shall direct the obligors on the
Deferred Mortgage Loans to remit payment on the Deferred Mortgage Loans to the Clearing Account (as defined in the Servicing Agreement) and shall within one (1) Business Day of receipt promptly deposit any amounts Seller receives with respect
to the Deferred Mortgage Loans in the Clearing Account. Seller shall promptly remit all amounts received by Seller with respect to the Mortgage Loans to the applicable Custodial Account or Escrow Account, but no later than the earlier of two
(2) Business Days after receipt thereof or the date required pursuant to the applicable Deferred Servicing Agreement; provided, that Seller shall, subject to the terms of the related Servicing Agreement, remit any such amounts that
constitute recovery of a Servicer Advance to the applicable account, if any, specified by Holdings pursuant to Section 3.4  

  
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within one (1) Business Day of receipt thereof; provided, further, that Seller shall, subject to the terms of the related Servicing Agreement, remit any such amounts that constitute
Servicing Fee to the applicable account, if any, specified by Holdings pursuant to Section 2.5 within one (1) Business Day of receipt thereof. Seller shall also making any compensating interest payments or prepayment interest
shortfall payments required to be made by Seller with respect to the Mortgage Loans under the Deferred Servicing Agreements, and shall remit any such payments to the applicable Custodial Account no less than one (1) Business Day prior to the
applicable remittance date for such Servicing Agreement. 
 6.4 Servicing Practices. Seller shall not make any material
change to its servicing practices with respect to the Deferred Mortgage Loans after the date hereof, including, any material changes to its cash collection and sweep processes or its advance policies or stop advance policies, without Holdings’
prior written consent, which consent shall not be unreasonably withheld or delayed. Holdings shall have the right to direct Seller to implement reasonable changes to Seller’s servicing practices applicable with respect to all or a portion
of the Mortgage Loans, including any changes necessary to ensure compliance with any Applicable Laws or governmental programs or directions received pursuant to the applicable Servicing Agreements. 

6.5 Servicing Reports. Seller shall simultaneously deliver a copy of any reports delivered by Seller to any Person pursuant to the
Deferred Servicing Agreements to Holdings. 
 6.6 Escrow Accounts. Subject to the terms of the related Deferred Servicing
Agreement, Seller shall be entitled to withdraw funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing Agreement. 

6.7 Notices and Financial Information. Until the last Servicing Transfer Date, Seller will furnish, or will cause to be furnished,
to Purchasers: 
 (a) within two (2) Business Days after the occurrence of a breach by Seller of the Agreement or this Sale
Supplement or any Termination Event or other event that would give HLSS the right to direct Seller to transfer the Servicing Rights with respect to any Deferred Servicing Agreement, notice of such event; 

(b) any information required to be delivered by Seller pursuant to Section 5.10 of the Subservicing Agreement, which
information shall be delivered at such times as specified in Section 5.10 of the Subservicing Agreement, provided that any reference to a “Subject Servicing Agreement” in Section 5.10 of the Subservicing Agreement
shall be deemed to be a reference to a “Deferred Servicing Agreement,” for the purposes of this Section 6.7; and 
 (c) such other information regarding the condition or operations, financial or otherwise, of Seller or any of its subsidiaries as HLSS may from time to time reasonably request. 

6.8 Defaults under Deferred Servicing Agreements. Seller covenants and agrees to use its reasonable best efforts to cure any
breach, default or notice of default with respect to its obligations under any Deferred Servicing Agreement within the timeframe for cure set forth in such Deferred Servicing Agreement. 

  
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 6.9 Continuity of Business. (a) Seller will maintain a disaster recovery plan in
support of the services it performs pursuant to this Sale Supplement and each Deferred Servicing Agreement. Seller’s disaster recovery plan shall include, at a minimum, procedures for back-up/restoration of operating and loan administration
computer systems; procedures and third-party agreements for replacement equipment (e.g. computer equipment), and procedures and third-party agreements for off-site production facilities. Seller will provide Holdings information regarding its
disaster recovery plan upon reasonable request. Seller agrees to annually test its disaster recovery plan to ensure compliance with this Section 6.9. If such test results identify a material failure, Seller shall advise Holdings of the
steps Seller will be taking to remedy such failure and shall notify Holdings when Seller has remedied such failure and retested. Seller will notify Holdings anytime Seller’s disaster recovery plan is activated. In the event of an activation of
the disaster recovery plan, Seller shall use best efforts to provide redundancy capabilities for a majority of the critical systems within 48 hours in at least one of Seller’s other servicing facilities unaffected by the disaster to ensure
servicing of the Mortgage Loans will be re-established within such 48 hours. 
 6.10 Optional Termination or Clean Up
Calls. Seller may exercise its rights under any optional termination or clean up call provision pursuant to a Deferred Servicing Agreement prior to the related Servicing Transfer Date; provided that simultaneously or prior to such
exercise, (i) Seller or its designee agrees to purchase, and purchases, the Mortgage Loans that are subject to such Deferred Servicing Agreement at a purchase price that is at least equal to the applicable purchase price pursuant to such
Deferred Servicing Agreement, (ii) all unreimbursed Servicer Advances and other amounts owed to Holdings with respect to such Deferred Servicing Agreement under the Sale Supplement or otherwise are paid to Holdings, (iii) Seller shall have
paid to HLSS a redemption fee with respect to such Deferred Servicing Agreement equal to the Book Value of the Rights to MSRs related to such Deferred Servicing Agreement on HLSS’s financial statements as of the date of such optional
termination or clean up call and (iv) Seller shall provide at least ten (10) Business Days prior written notice to Purchasers of such exercise. 
 6.11 Amendments to Deferred Servicing Agreements; Transfer of Servicing Rights. Seller hereby covenants and agrees not to amend the Servicing Agreements without Purchasers’ prior written
consent. Seller shall not sell or otherwise voluntarily transfer servicing under any of the Deferred Servicing Agreement during the Consent Period except as expressly provided in this Sale Supplement or take any other actions inconsistent with
Purchasers’ right to acquire ownership of Servicing Rights with respect to a Servicing Agreement upon receipt of the required Third Party Consents. 
 6.12 Assumption of Servicing Duties; Transfer of Rights to MSRs and Servicing Rights. Holdings may from time to time designate any of Seller’s servicing obligations under a Deferred Servicing
Agreement and assume the performance of such obligations so long as such assumption is permitted pursuant to such Deferred Servicing Agreement and does not limit Seller’s right to receive the Servicing Fees pursuant to such Deferred Servicing
Agreement. Notwithstanding anything in the Agreement or this Sale Supplement to the contrary, HLSS may transfer the Rights to MSRs to any third party and/or may direct Seller to transfer the Servicing Rights to a third party that can obtain the
required Third Party Consents, subject to the right of the Seller to receive the Seller Monthly Servicing Fee, the Performance Fee, the Ancillary Income and, if applicable, the Prepayment Interest Excess owed to Seller with respect to such Deferred
Servicing Agreement pursuant to Article 7. For the avoidance of doubt, HLSS shall be entitled to receive all proceeds of such transfer. 

  
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 6.13 Termination Event. In the case that any Termination Event occurs with respect to
any Servicing Agreement during the Consent Period, Seller shall, upon HLSS’s written direction to such effect, use commercially reasonable efforts to transfer the Servicing Rights relating to any affected Servicing Agreement to a third party
servicer identified by HLSS with respect to which all required Third Party Consents with respect to such Servicing Agreement can be obtained. HLSS shall be entitled to receive all proceeds of such transfer. 

6.14 Servicing Transfer. Seller and Purchasers shall, prior to the Servicing Transfer Date with respect to each Servicing
Agreement, work in good faith to determine and agree upon applicable servicing transfer procedures with respect to such Servicing Agreement. 
 6.15 Incorporation of Provisions from Subservicing Agreement. The provisions of each of Sections 5.3, 5.4, 5.5, 5.6, 5.7, 5.8 (excluding the first sentence
thereof), 5.17 and 5.18, and Exhibit A of the Subservicing Agreement are hereby incorporated into this Sale Supplement by reference, mutatis mutandis, as if its provisions were fully set forth herein; provided that
any reference therein to the defined terms “Ocwen,” “Servicer,” “Mortgage Loan,” “Subject Servicing Agreement” and “Agreement,” shall be deemed for purposes of this Sale Supplement to be references
to the terms “Seller,” “Holdings,” “Deferred Mortgage Loan,” “Deferred Servicing Agreement” and “Sale Supplement,” respectively and any reference therein to the phrase “during the term of this
Agreement” shall be deemed for purposes of this Sale Supplement to be references to the phrase “until the last Servicing Transfer Date.” 
 ARTICLE 7 
 SELLER SERVICING FEES; COSTS AND EXPENSES 

7.1 Seller Monthly Servicing Fee. As consideration for Seller servicing the Mortgage Loans pursuant to the Deferred Servicing
Agreements during the applicable Consent Period but prior to the earlier of the date on which the Servicing Rights are transferred from Seller with respect to a Deferred Servicing Agreement or Servicing Fee Reset Date, Holdings shall pay to Seller a
monthly base servicing fee for each calendar month during such period during which Seller is servicing Mortgage Loans with respect to Deferred Servicing Agreements pursuant to this Sale Supplement equal to 12% of the aggregate Servicing Fees
actually received by Purchasers under this Sale Supplement during such calendar month with respect the Deferred Servicing Agreements (the “Seller Monthly Servicing Fee”). 

7.2 Performance Fee. In addition to the Seller Monthly Servicing Fee, Holdings shall pay to Seller for each calendar month during
which Holdings is servicing Mortgage Loans with respect to Deferred Servicing Agreements pursuant to this Sale Supplement a performance fee (“Performance Fee”) equal to the greater of (a) zero and (b) (x) the excess,
if any, of the aggregate of all Servicing Fees actually received by Purchasers with respect to the Deferred Servicing Agreements and pursuant to the Transferred Servicing Agreements (whether directly

  
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pursuant to such Transferred Servicing Agreements or pursuant to this Sale Supplement) during such calendar month over the sum of (i) the Monthly Servicing Fee for such calendar month and
(ii) the Retained Servicing Fee for such calendar month multiplied by (y) a fraction, (i) the numerator of which is the average unpaid principal balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such
calendar month and (ii) the denominator of which is equal to the sum of the average unpaid principal balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such calendar month and the average unpaid principal balance
of all Mortgage Loans subject to the Transferred Servicing Agreements during such calendar month, or such other allocation percentage which is agreed by Seller and Holdings (the “Allocation Percentage”). The Performance Fee, if any,
for any calendar month will be reduced by an amount equal to (y) 3.75% per annum (i.e., 0.3125% per month) of the Excess Servicing Advances, if any, for such month multiplied by the Allocation Percentage, and the amount of any such
reduction in the Performance Fee shall be retained by Holdings. If the Closing Date does not occur on the first day of a calendar month, the Performance Fee for the period from the Closing Date to the last of the calendar month in which the Closing
Date occurs shall be calculated in a pro rata manner based on the number of days in such period. Notwithstanding any provision in this Sale Supplement to the contrary, in the event Holdings has failed to pay Seller any Seller Monthly Servicing Fee
or Performance Fees that are past due after ten (10) Business Days of Holdings receiving notice of such failure, Seller shall not be required to continue to act as subservicer until such time as Holdings has fully paid such past due Seller
Monthly Servicing Fee or Performance Fee; provided that Holdings shall not have notified Seller that it disputes the occurrence or amount of such past due Seller Monthly Servicing Fee or Performance Fee. 

7.3 Costs and Expenses. Except as otherwise expressly provided in the Agreement or this Sale Supplement, each party hereto shall
be responsible for its own costs and expenses incurred in connection with the negotiation and execution of the Agreement, this Sale Supplement and all documents relating thereto. Seller shall be required to pay all expenses incurred by it in
connection with its obligations hereunder to the extent such expenses do not constitute Servicer Advances and shall not be entitled to reimbursement therefor except as specifically provided for herein or in the applicable Deferred Servicing
Agreement. Seller shall reimburse Purchasers for any reasonable out-of-pocket costs, including legal fees, incurred by Purchasers in connection with obtaining any required Third Party Consents; provided, however, that neither Purchaser
shall incur such costs without the prior written approval of Seller. 
 7.4 Ancillary Income. Seller shall be entitled to
retain as additional compensation any Ancillary Income and any Prepayment Interest Excess received by Seller with respect to the Deferred Mortgage Loans, and all income from amounts on deposit in Custodial Accounts and Related Escrow Accounts
related to the Deferred Servicing Agreements, to the extent such Ancillary Income, Prepayment Interest Excess or income is permitted to be retained by Seller pursuant to the related Deferred Servicing Agreement. 

7.5 Calculation and Payment. No later than the second Business Day following the receipt by Purchasers of the Monthly Servicing
Oversight Report for a calendar month, Holdings will remit to Seller in immediately available funds the Seller Monthly Servicing Fee and Performance Fees payable by Holdings to Seller for the related calendar month, along with a report showing in
reasonable detail the calculation of such Seller Monthly Servicing Fees and Performance Fees. 

  
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 7.6 No Offset. Neither party shall have any right to offset against any amount
payable hereunder or other agreement to the other party, or otherwise reduce any amount payable hereunder as a result of, any amount owing by the other party or any of its Affiliates to such party or any of its Affiliates. 

7.7 Servicing Fee Reset Date. The servicing fees payable to Seller after the Servicing Fee Reset Date shall be subject to
negotiation between Seller and Holdings. If Seller and Holdings are unable to agree to such servicing fee prior to the Servicing Fee Reset Date, Seller shall, upon Holdings’ written direction to such effect, transfer the Servicing Rights
relating to all of the Deferred Servicing Agreements to a third party servicer identified by Holdings with respect to which all required Third Party Consents with respect to the Deferred Servicing Agreements can be obtained. Holdings shall be
entitled to receive all proceeds related to such transfer. 
 ARTICLE 8 

INDEMNIFICATION 
 8.1 Seller Indemnification of Purchasers. Seller agrees to indemnify and hold harmless each Purchaser and each officer, director, agent, employee or Affiliate of each Purchaser (each, a
“Seller Indemnified Party”) from and against any and all claims, losses, damages, liabilities, judgments, penalties, fines, forfeitures, legal fees and expenses, and any and all related costs and/or expenses of litigation,
administrative and/or regulatory agency proceedings, and any other costs, fees and expenses (each, a “Liability”) suffered or incurred by a Purchaser or any such other Person (whether or not resulting from a third party claim)
arising directly or indirectly out of or resulting from (a) any event relating to Transferred Assets occurring prior to the related Servicing Transfer Date, (b) a breach of any of Seller’s representations and warranties contained in
the Agreement, this Sale Supplement or any other Related Agreement or Seller’s failure to observe and perform any of Seller’s duties, obligations, covenants or agreements contained in the Agreement, this Sale Supplement or any other
Related Agreement, (c) acts or omissions of Seller, any other servicer of any Mortgage Loans, or any subservicer, contractor or agent engaged by Seller or any other servicer, in each case prior to the related Servicing Transfer Date, relating
to the Transferred Assets, including any failure by Seller, any other servicer or any subservicer, contractor or agent engaged by Seller or any other servicer prior to the related Servicing Transfer Date to comply with the Applicable Requirements,
(d) the Excluded Liabilities or (e) any acts or omissions by Seller or its employees or agents in performance of its duties or obligations pursuant to this Sale Supplement. 

8.2 Purchasers Indemnification of Seller. Purchasers agree, jointly and severally, to indemnify and hold harmless Seller and each
officer, director, agent, employee or Affiliate of Seller (each, a “Purchaser Indemnified Party”) from and against any and all Liability suffered or incurred by Seller or any such other Person arising out of or resulting from
(a) a breach of any of Purchasers’ representations and warranties or covenants contained in the Agreement, the Sale Supplement or any other Related Agreement or (b) acts or omissions of a Purchaser or any subservicer, contractor or
agent (other than Seller or any of Seller’s Affiliates) engaged by Purchasers, in each case after the related Servicing Transfer Date, relating to the Transferred Assets. 

  
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 8.3 Indemnification Procedures. 

(a) As promptly as is reasonably practicable after becoming aware of a claim for indemnification under the Agreement or this Sale
Supplement not involving a Third-Party Claim, but in any event no later than fifteen (15) Business Days after first becoming aware of such claim, the Indemnified Person shall give notice to the Indemnifying Person of such claim, which notice
shall specify the facts alleged to constitute the basis for such claim and the amount that the Indemnified Person seeks hereunder from the Indemnifying Person; provided, however, that the failure of the Indemnified Person to give such
notice shall not relieve the Indemnifying Person of its obligations under this Section 8.3 except to the extent (if any) that the Indemnifying Person shall have been prejudiced thereby. 

(b) The Indemnified Person shall give notice as promptly as is reasonably practicable, but in any event no later than ten
(10) Business Days after receiving notice thereof, to the Indemnifying Person of the assertion of any claim, or the commencement of any action, suit, claim or proceeding, by any unaffiliated third Person (a “Third-Party Claim”)
in respect of which indemnity may be sought under the Agreement or this Sale Supplement (which notice shall specify in reasonable detail the nature and amount of such claim); provided, however, that the failure of the Indemnified
Person to give such notice shall not relieve the Indemnifying Person of its obligations under this Section 8.3 except to the extent (if any) that the Indemnifying Person shall have been prejudiced thereby. The Indemnifying Person may, at
its own expense, (i) participate in the defense of any such Third-Party Claim, and (ii) upon notice to the Indemnified Person, at any time during the course of any such Third-Party Claim, assume the defense thereof with counsel of its own
choice and, in the event of such assumption, shall have the exclusive right, subject to clause (i) in the proviso in Section 8.3(c), to settle or compromise such Third-Party Claim. If the Indemnifying Person assumes such
defense, the Indemnified Person shall have the right (but not the duty) to participate in the defense thereof and to employ counsel, at its own expense, separate from the counsel employed by the Indemnifying Person. Whether or not the Indemnifying
Person chooses to defend or prosecute any such Third-Party Claim, all of the parties hereto shall cooperate in the defense or prosecution thereof. 
 (c) Any settlement or compromise made or caused to be made by the Indemnified Person (unless the Indemnifying Person has the exclusive right to settle or compromise under clause (ii) of
Section 8.3(b) or the Indemnifying Person, as the case may be), of any such Third-Party Claim shall also be binding upon the Indemnifying Person or the Indemnified Person, as the case may be, in the same manner as if a final judgment had
been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided, however, that (i) no obligation, restriction, loss or admission of guilt or wrongdoing shall be imposed on the Indemnified
Person as a result of such settlement or compromise without its prior written consent and (ii) the Indemnified Person will not compromise or settle any Third Party Claim without the prior written consent of the Indemnifying Person. 

  
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 (d) Except as specifically provided for in the Agreement or this Sale Supplement, no claim
may be made by an Indemnified Person for any special, indirect, punitive or consequential damages (“Special Damages”) in respect of any breach or wrongful conduct (whether the claim therefor is based on contract, tort or duty
imposed by law) in connection with, arising out of, or in any way related to the transactions contemplated, or relationship established, by this Agreement or any Sale Supplement, or any act, omission or event occurring in connection herewith or
therewith, and to the fullest extent permitted by law, Seller and each Purchaser hereby waives, releases and agrees not to sue upon any such claim for Special Damages, whether or not accrued or whether or not known or suspected to exist in its
favor. 
 8.4 Tax Treatment. (a) Seller and Purchasers agree that all payments made by any of them to or for the
benefit of the other under this Article 8, under other indemnity provisions of the Agreement or this Sale Supplement and for any misrepresentations or breaches of warranties or covenants, shall be treated as adjustments to the Purchaser Price
for tax purposes and that such treatment shall govern for purposes hereof except to the extent that the Applicable Laws of a particular jurisdiction provide otherwise. 
 (b) All payments made pursuant to this Agreement shall be made free and clear and without deductions of any kind for taxes. 
 8.5 Survival. The parties’ obligations under this Article 8 shall survive any termination of the Agreement and/or this Sale Supplement. 

8.6 Additional Indemnification. (a) Without limiting Seller’s obligations under Article 8 of this Sale
Supplement, it is agreed by the parties that if Seller is terminated as servicer under any Deferred Servicing Agreement as a result of any action described in clauses (a) through (e) of Section 8.1 above, Seller shall
also pay to Purchasers, as reasonable and just compensation for such termination, an amount equal to the product of (i) the Purchase Price for such Deferred Servicing Agreement and (ii) the Amortization Percentage for the calendar month in
which Seller received notice of such termination, and Purchasers shall accept such sum as liquidated damages, and not as penalty, in the event of such a termination. 
 8.7 Specific Performance. Notwithstanding any other provision of the Agreement or this Sale Supplement, (i) it is understood and agreed that the remedy of indemnity payments pursuant to this
Article 8 and other remedies at law would be inadequate in the case of any actual or threatened breach of the Agreement or this Sale Supplement by Seller and (ii) Purchasers shall be entitled, without limiting its other remedies and
without the necessity of proving actual damages or posting any bond, to equitable relief, including the remedy of specific performance or injunction, with respect to any breach or threatened breach of such covenants. Such relief shall be in addition
to, and not in lieu of, all other remedies available at law or in equity to such party under the Agreement and this Sale Supplement. 

  
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 ARTICLE 9 
 GRANT OF SECURITY INTEREST 
 9.1 Granting Clause. To secure its
performance of its obligations under the Agreement and this Sale Supplement, Seller hereby grants to Purchasers a security interest in all of its right, title and interest in an to the following, whether now owned or hereafter acquired, and all
monies “securities,” “instruments,” “accounts,” “general intangibles,” “payment intangibles,” “payment intangibles,” “goods,” “letter of credit rights,” “chattel
paper,” “financial assets,” “investment property,” (each as defined in the applicable UCC) and other property consisting of, arising from or relating to any of the following: 

(a) the Servicing Rights in respect of all of the Mortgage Loans and REO Properties related to the Deferred Servicing Agreements, in each
case together with all related security, collections and payments thereon and proceeds of the conversion, voluntary or involuntary of the foregoing; 
 (b) the Rights to MSRs with respect to each Servicing Agreement; 
 (c) all
Servicing Fees, Ancillary Income and Prepayment Interest Excess received under the Deferred Servicing Agreements and subject to Section 6.10 of this Sale Supplement any rights to exercise any optional termination or clean-up call
provisions under the Deferred Servicing Agreements; 
 (d) all files and records in Seller’s possession or control,
including the related Database, relating to the assets specified in clauses (a) through (c); 
 (e) all causes of action,
lawsuits, judgments, claims, refunds, choses in action, rights of recovery, rights of set-off, rights of recoupment, demands and any other rights or claims of any nature, whether arising by way of counterclaim or otherwise, available to or being
pursued by Seller to the extent related exclusively to any of the foregoing and/or the Assumed Liabilities; and 
 (f) any
proceeds of any of the foregoing (collectively, the “Collateral”). 
 This Sale Supplement shall constitute a security
agreement under applicable law. Seller agrees that from time to time it shall promptly execute and deliver all additional instruments and documents and take all additional action that Purchasers may reasonably request in order to perfect the
interests of Purchasers in, to and under, or to protect, the Collateral or to enable Purchasers to exercise or enforce any of its rights or remedies hereunder. To the fullest extent permitted by applicable law, Seller hereby authorizes Purchasers to
file financing statements and amendments thereto in connection with the grant of a security interest pursuant to this Section 9.1. Seller covenants and agrees to take all necessary action to prevent the creation or imposition of any Lien
upon any of the Collateral, and to maintain the Collateral free and clear of all Liens, other than the Lien securing the obligations of Seller arising under this Sale Supplement. 

  
 -26-

 ARTICLE 10 
 MISCELLANEOUS PROVISIONS 
 10.1 Further Assurances. Without limiting
Section 5.7 of the Agreement, each party hereto shall execute and deliver in a reasonable timeframe such reasonable and appropriate additional documents, instruments or agreements and take such reasonable actions as may be necessary or
appropriate to effectuate the purposes of this Sale Supplement at the request of the other party. Without limiting the foregoing, the Seller agrees that it will promptly at Purchasers’ request execute and deliver an one or more assignment and
assumption agreements, in form mutually agreed to by the parties, one or more equity interest assignments, in form mutually agreed to by the parties, or such other documents, instruments or agreements as Purchasers may reasonably request to evidence
the transfers of Rights to MSRs pursuant to Section 2.1, Servicing Rights pursuant to Section 2.2 and Transferred Receivables Assets pursuant to Section 3.1. 

10.2 Compliance with Applicable Laws; Licenses. Seller will comply with all Applicable Laws in connection with the performance of
its obligations under the Agreement and this Sale Supplement. Seller shall maintain all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of Seller to perform its
obligations under the Agreement and this Sale Supplement. 
 10.3 Merger, Consolidation, Etc. Seller will keep in full
effect its existence, rights and franchises as a limited liability company, and will obtain and preserve its qualification to do business as a foreign organization in each jurisdiction in which such qualification is or shall be necessary to protect
the validity and enforceability of the Agreement, this Sale Supplement, each Deferred Servicing Agreement or any of the Deferred Mortgage Loans, or to perform its duties under the Agreement or this Sale Supplement. Seller may be merged or
consolidated with or into any Person, or transfer all or substantially all of its assets to any Person, in which case any Person resulting from any merger or consolidation to which Seller shall be a party or acquiring all or substantially all of the
assets of Seller, or any Person succeeding to the business of Seller shall be the successor of Seller hereunder and under the Agreement, without the execution or filing of any paper or any further act on the part of any of the parties hereto;
provided, however, that the successor or surviving Person shall be an institution whose deposits are insured by FDIC or a company whose business includes the servicing of mortgage loans and shall have a tangible net worth not less than $25,000,000.

 10.4 Annual Officer’s Certificate. Not later than March 15th of each calendar year commencing in 2013, Seller shall deliver to
Purchasers an Officer’s Certificate stating, as to each signatory thereof, that (i) a review of the activities of Seller during the preceding year and of performance under the Agreement and this Sale Supplement has been made under such
officers’ supervision and (ii) to the best of such officer’s knowledge, based on such review, Seller has fulfilled all of its obligations under the Agreement and this Sale Supplement in all material respects throughout such year, or,
if there has been a default in the fulfillment of any such obligation in any material respect, specifying each such default known to such officer and the nature and status thereof. 

  
 -27-

 10.5 Accounting Treatment. Notwithstanding Section 8.14 of the Agreement,
the parties acknowledge that until such time as the Third Party Consents with respect to a Servicing Agreement are obtained, the parties shall treat the transaction hereunder with respect to such Servicing Agreement as a financing for accounting
purposes. 
 10.6 Incorporation. The provisions of Article 8 of the Agreement are hereby incorporated into this
Sale Supplement by reference, mutatis mutandis, as if its provisions were fully set forth herein. 
 10.7 Third Party
Beneficiaries. Seller and each Purchaser acknowledge and agree that the indenture trustee, on behalf of the holders of related notes, with respect to any Servicing Advance Financing Agreements pursuant to which Purchaser has transferred Servicer
Advances made pursuant to a Deferred Servicing Agreement is an express third party beneficiary of this Sale Supplement and the Agreement solely with respect to the Deferred Servicing Agreements related to such Servicing Advance Financing Agreement.

 [Signature Page Follows] 

  
 -28-

 IN WITNESS WHEREOF, the parties hereto have caused this Sale Supplement to be executed and
delivered by its respective officer thereunto duly authorized as of the date above written. 
  

			
	OCWEN LOAN SERVICING, LLC
	
	By: Ocwen Mortgage Servicing, Inc., as its sole member
		
	By:	 	 /s/ Nikhil Malik

	Name:	 	Nikhil Malik
	Title:	 	Vice President
	
	HLSS HOLDINGS, LLC
		
	By:	 	 /s/ James Lauter

	Name:	 	James Lauter
	Title:	 	Senior Vice President and CFO
	
	HOME LOAN SERVICING SOLUTIONS, LTD.
		
	By:	 	 /s/ William C. Erbey

	Name:	 	William C. Erbey
	Title:	 	Chairman

 EXHIBIT A 
 Form of Monthly Remittance Report 
  

			
	 Ocwen Loan Servicing, LLC
	  	xxx
		
	 Deal Name
	  	
		
	 Remittance Summary
	  	[Month] [Year]

  

					
	 Particulars
	  	Amount ($)	 
	 Scheduled Principal Payments
	  	 	0.00	  
	 Curtailments
	  	 	0.00	  
	 Interest on curtailment
	  	 	0.00	  
	 Pool to Security
	  	 	0.00	  
	 Payoff Principal
	  	 	0.00	  
	 Neg Amt Prin
	  	 	0.00	  
	 Deferred Principal Paid
	  	 	0.00	  
		  	  
	  
	 
	 Total Principal remitted
	  	 	0.00	  
		  	  
	  
	 
	 Gross Scheduled Interest
	  	 	0.00	  
	 Less: Service fee amount
	  	 	0.00	  
	 Less: LPMI Premium
	  	 	0.00	  
	 Add: INT on STA Reinstatement
	  	 	0.00	  
	 Add: INT on STA Paid-in-full
	  	 	0.00	  
	 Less: STA PI Recoveries
	  	 	0.00	  
		  	  
	  
	 
	 Total Interest remitted
	  	 	0.00	  
		  	  
	  
	 

					
	 Less: Realized Loss
	  	 	0.00	  
	 Less: Trailing expenses
	  	 	0.00	  
	 Add: Trailing income
	  	 	0.00	  
	 +/- Collection on released loans
	  	 	0.00	  
	 Interest on curtailment
	  	 	0.00	  
	 Add: Prepayment penalty
	  	 	0.00	  
	 +/- Prior period PPP
	  	 	0.00	  
	 Add: Collection on STA loans
	  	 	0.00	  
	 Add: Non recoverable Credits
	  	 	0.00	  
	 Less: Non recoverable advances
	  	 	0.00	  
	 Less: Non Loan level expense
	  	 	0.00	  
	 Less: Jr Lien Blanket Policy Fee
	  	 	0.00	  
	 Less: Pre-approved legal expense
	  	 	0.00	  
	 +/- Reconciliation adjustments
	  	 	0.00	  
	 + /- Arrearage remittance
	  			
	 Add: Principal Arrearage
	  	 	0.00	  
	 Add: Interest Arrearage
	  	 	0.00	  
	 + /-: Modification Forgiveness of Debt
	  			
	 Principal Forgiveness
	  	 	0.00	  
	 Interest Forgiveness
	  	 	0.00	  
	 Expense Forgiveness
	  	 	0.00	  
	 Scheduling Difference
	  	 	0.00	  

					
	 Deffered Principal Loss
	  	 	0.00	  
	 SAM waived balance loss
	  	 	0.00	  
	 Investor Incentives
	  	 	0.00	  
	 Less: Compensating Interest adjustment
	  	 	0.00	  
		  	  
	  
	 
	 Total Remittance
	  	 	0.00	  
		  	  
	  
	 
	 Beg Sch Balance
	  	 	0.00	  
	 Ending Principal Balance
	  	 	0.00	  
	 Beg Actual Balance
	  	 	0.00	  
	 Ending Actual Principal Balance
	  	 	0.00	  
	 Beg Deferred Principal Balance
	  	 	0.00	  
	 Ending Deferred Principal Balance
	  	 	0.00	  
	 Beg Loan count
	  	 	0.00	  
	 Payoffs
	  	 	0.00	  
	 End Loan count
	  	 	0.00	  
	 Principal Roll Test
	  	 	0.00	  
	 Loan Count Test
	  	 	0.00	  
	 Non Supporting Compensating Interest
	  	 	0.00	  
	 Wire of sub—Investor
	  	 	0.00	  
		  	  
	  
	 
	 Grand Total for PI Wire
	  	 	0.00	  
		  	  
	  
	 

 SCHEDULE I 
 SERVICING AGREEMENTS 
  

			
	 Investor Number
	  	 Deal Name

	250	  	OOMC Series 2003-5
	251	  	OOMC Series 2003-6
	261	  	OOMC Loan Trust 2004-1
	274	  	OOMC Loan Trust Series 2004-2
	287	  	OOMC Loan Trust Series 2004-3
	292	  	OOMLT 2005-1 STEP SERV FEE
	369	  	OOMLT 2005-2 STEP SERV FEE
	370	  	SOUNDVIEW 2005-OPT1- PMI
	391	  	Citigroup CMLTI 2005-OPT4
	423	  	Carrington 2006-OPT1
	448	  	Merrill Lynch Series 2006-OPT1
	662	  	OOMC MESA Trust 2001-5
	664	  	OOMC Loan Trust 2002-1
	669	  	OOMC Loan Trust 2002-3 -STEP
	671	  	First Franklin Series 2002-FF1
	683	  	OOMC Loan Trust 2002-6
	687	  	OOMC Series 2003-1
	690	  	OOMC Loan Trust 2003-2
	691	  	OOMC Series 2003-3
	693	  	OOMC Series 2003-4 StepSvcFee
	262	  	ABFC Series 2004-OPT1
	264	  	OOMC Woodbridge Series 2004-1

			
	269	  	SABR Trust 2004-OP1 —STEP SF
	271	  	UBS MASTR Series 2004-OPT1
	272	  	BofA ABFC Series 2004-OPT2
	276	  	BofA ABFC 2004-OPT3
	279	  	ABSC Series 2004-HE3
	284	  	ABFC 2004-OPT4
	288	  	UBS MASTR Series 2004-OPT2
	289	  	ABFC 2004-OPT5
	294	  	Citigroup CMLTI 2005-OPT1
	297	  	MASTR 2005-OPT1 STEP SERV FEE
	299	  	CMLT 2005-OPT2 STEP SERV FEE
	333	  	Citigroup Mort Loan Trust 2004-OPT1 step
	334	  	Barclays SABR Series 2004-OP2
	360	  	Barclays SABR Series 2005-OP1
	377	  	Citigroup CMLTI 2005-OPT3
	381	  	ABSC 2005-HE6
	384	  	JPMAC 2005-OPT1
	386	  	Soundview 2005-OPT2
	400	  	ABFC 2005-OPT1
	413	  	SABR 2005-OP2
	414	  	JPMAC 2005-OPT2
	417	  	Barclays SABR Series 2006-OP1
	422	  	Soundview 2006-OPT1
	428	  	ABSC 2006-HE3
	437	  	Soundview 2006-OPT4
	442	  	ABSC 2006-HE5

			
	670	  	Option One Woodbridge 2002-1
	685	  	MASTR 2002-OPT1 (UBS Security)
	688	  	UBS—MASTR 2003-OPT1
	689	  	OOMC Woodbridge 2003-1
	692	  	MASTR Series 2003-OPT2
	695	  	OOMC Woodbridge Series 2003-2
	258	  	ACE Series2003-OP1
	267	  	ACE 2004-OP1 STEP SERV FEE
	380	  	OOMLT 2005-3
	387	  	Lehman SASCO 2005-S5
	397	  	OOMLT 2005-4
	399	  	NHELI 2005-HE1
	401	  	OOMLT 2005-5
	402	  	SGMS 2005-OPT1
	405	  	Lehman SASCO 2005-OPT1
	412	  	OOMLT 2006-1
	416	  	HSBC HASCO 2006-OPT1
	420	  	HSBC HASCO 2006-OPT2
	425	  	HSBC HASCO 2006-OPT3
	430	  	Lehman SASCO 2006-OPT1
	432	  	HSBC HASCO 2006-OPT4
	434	  	ACE 2006-OP1
	441	  	OOMC Loan Trust Series 2006-2
	446	  	Lehman SASCO 2006-BC2
	450	  	OOMLT 2006-3
	551	  	ACE 2006-OP2

			
	558	  	ABFC 2006-HE1
	559	  	SGMS 2006-OPT2- Dual Cutoff
	564	  	Lehman SASCO 2006-BC6
	565	  	OOMLT 2007-01- Dual Cutoff
	567	  	HSBC HASCO 2007-OPT1
	568	  	Lehman SASCO 2007-BC1
	569	  	OOMC Loan Trust Series 2007-CP1
	571	  	OOMC Loan Trust Series 2007-2
	573	  	Merrill Lynch Series 2007-HE2
	574	  	OOMC Loan Trust Series 2007-FXD2
	575	  	OOMC Loan Trust Series 2007-3
	577	  	OOMC Loan Trust Series 2007-4
	578	  	OOMC Loan Trust Series 2007-5
	582	  	OOMC Loan Trust Series 2007-6
	682	  	Morgan Stanley 2002-OP1
	254	  	ABSC Series 2003-HE6
	257	  	Merrill Lynch Series 2003-OPT1
	396	  	Soundview 2005-OPT3
	406	  	Soundview 2005-OPT4

 SCHEDULE II 
 Underlying Documents 
 None 

 SCHEDULE III 
 RETAINED SERVICING FEE PERCENTAGE 
  

					
	 From Month1
	  	To Month	  	Retained Fee
	 1
	  	3	  	26.50 bps
	 4
	  	6	  	25.75 bps
	 7
	  	9	  	25.25 bps
	 10
	  	12	  	25.00 bps
	 13
	  	15	  	24.00 bps
	 16
	  	18	  	23.50 bps
	 19
	  	21	  	23.25 bps
	 22
	  	24	  	22.50 bps
	 25
	  	27	  	21.75 bps
	 28
	  	30	  	21.50 bps
	 31
	  	33	  	21.50 bps
	 34
	  	36	  	21.50 bps
	 37
	  	39	  	21.25 bps
	 40
	  	42	  	21.25 bps
	 43
	  	72	  	21.25 bps

  
  

	1 	Starting with March 2013. 

 SCHEDULE IV 

TARGET RATIO SCHEDULE 
  

					
	 Month2
	  	Target Advance
Ratio	 
	 1
	  	 	4.57	% 
	 2
	  	 	4.47	% 
	 3
	  	 	4.37	% 
	 4
	  	 	4.27	% 
	 5
	  	 	4.18	% 
	 6
	  	 	4.08	% 
	 7
	  	 	3.99	% 
	 8
	  	 	3.90	% 
	 9
	  	 	3.81	% 
	 10
	  	 	3.73	% 
	 11
	  	 	3.64	% 
	 12
	  	 	3.56	% 
	 13
	  	 	3.48	% 
	 14
	  	 	3.40	% 
	 15
	  	 	3.33	% 
	 16
	  	 	3.25	% 
	 17
	  	 	3.18	% 
	 18
	  	 	3.11	% 
	 19
	  	 	3.04	% 
	 20
	  	 	2.97	% 
	 21
	  	 	2.90	% 
	 22
	  	 	2.84	% 
	 23
	  	 	2.77	% 
	 24
	  	 	2.71	% 
	 25
	  	 	2.65	% 
	 26
	  	 	2.59	% 
	 27
	  	 	2.53	% 
	 28
	  	 	2.47	% 
	 29
	  	 	2.42	% 
	 30
	  	 	2.36	% 
	 31
	  	 	2.31	% 
	 32
	  	 	2.26	% 
	 33
	  	 	2.21	% 

  

	2 	Starting with March 2013. 

			
	 34
	  	2.16%
	 35
	  	2.11%
	 36
	  	2.06%
	 37
	  	2.02%
	 38
	  	1.97%
	 39
	  	1.93%
	 40
	  	1.88%
	 41
	  	1.84%
	 42
	  	1.80%
	 43
	  	1.76%
	 44
	  	1.75%
	 45
	  	1.75%
	 46
	  	1.75%
	 47
	  	1.75%
	 48
	  	1.75%
	 49
	  	1.75%
	 50
	  	1.75%
	 51
	  	1.75%
	 52
	  	1.75%
	 53
	  	1.75%
	 54
	  	1.75%
	 55
	  	1.75%
	 56
	  	1.75%
	 57
	  	1.75%
	 58
	  	1.75%
	 59
	  	1.75%
	 60
	  	1.75%
	 61
	  	1.75%
	 62
	  	1.75%
	 63
	  	1.75%
	 64
	  	1.75%
	 65
	  	1.75%
	 66
	  	1.75%
	 67
	  	1.75%
	 68
	  	1.75%
	 69
	  	1.75%
	 70
	  	1.75%
	 71
	  	1.75%
	 72
	  	1.75%

 SCHEDULE V 
 VALUATION PERCENTAGE 
  

					
	Investor Number	  	Purchase Price (bps)	 
	 250
	  	 	92.87	  
	 251
	  	 	71.42	  
	 261
	  	 	60.56	  
	 274
	  	 	67.59	  
	 287
	  	 	72.09	  
	 292
	  	 	60.52	  
	 369
	  	 	64.63	  
	 370
	  	 	65.05	  
	 391
	  	 	63.58	  
	 423
	  	 	71.06	  
	 448
	  	 	48.84	  
	 662
	  	 	(90.78	) 
	 664
	  	 	11.47	  
	 669
	  	 	55.19	  
	 671
	  	 	(3.71	) 
	 683
	  	 	4.95	  
	 687
	  	 	85.43	  
	 690
	  	 	89.58	  
	 691
	  	 	93.42	  
	 693
	  	 	94.20	  
	 262
	  	 	90.71	  
	 264
	  	 	(84.43	) 
	 269
	  	 	56.10	  
	 271
	  	 	70.40	  
	 272
	  	 	68.85	  
	 276
	  	 	70.02	  
	 279
	  	 	63.12	  
	 284
	  	 	71.21	  
	 288
	  	 	70.01	  
	 289
	  	 	72.31	  
	 294
	  	 	68.38	  
	 297
	  	 	66.87	  
	 299
	  	 	64.81	  
	 333
	  	 	69.28	  
	 334
	  	 	67.54	  
	 360
	  	 	64.24	  
	 377
	  	 	67.44	  
	 381
	  	 	68.10	  
	 384
	  	 	66.30	  
	 386
	  	 	67.04	  
	 400
	  	 	64.32	  
	 413
	  	 	68.61	  
	 414
	  	 	82.66	  
	 417
	  	 	70.15	  
	 422
	  	 	64.85	  

					
	 428
	  	 	75.08	  
	 437
	  	 	55.35	  
	 442
	  	 	47.08	  
	 670
	  	 	(76.21	) 
	 685
	  	 	5.25	  
	 688
	  	 	14.97	  
	 689
	  	 	(74.51	) 
	 692
	  	 	21.92	  
	 695
	  	 	(73.93	) 
	 258
	  	 	63.59	  
	 267
	  	 	62.02	  
	 380
	  	 	64.25	  
	 387
	  	 	(179.53	) 
	 397
	  	 	72.22	  
	 399
	  	 	66.23	  
	 401
	  	 	73.38	  
	 402
	  	 	68.96	  
	 405
	  	 	88.60	  
	 412
	  	 	76.67	  
	 416
	  	 	89.41	  
	 420
	  	 	75.25	  
	 425
	  	 	76.59	  
	 430
	  	 	63.13	  
	 432
	  	 	69.14	  
	 434
	  	 	60.47	  
	 441
	  	 	46.07	  
	 446
	  	 	74.23	  
	 450
	  	 	48.97	  
	 551
	  	 	49.28	  
	 558
	  	 	35.99	  
	 559
	  	 	52.48	  
	 564
	  	 	72.75	  
	 565
	  	 	47.41	  
	 567
	  	 	47.24	  
	 568
	  	 	76.15	  
	 569
	  	 	49.84	  
	 571
	  	 	50.77	  
	 573
	  	 	57.07	  
	 574
	  	 	64.73	  
	 575
	  	 	58.49	  
	 577
	  	 	56.50	  
	 578
	  	 	54.90	  
	 582
	  	 	62.26	  
	 682
	  	 	(12.55	) 
	 254
	  	 	99.82	  
	 257
	  	 	100.20	  
	 396
	  	 	77.60	  
	 406
	  	 	79.77	  

 SCHEDULE VI 
 AMORTIZATION PERCENTAGE 
  

					
	 Month3
	  	Percentage	 
	 1
	  	 	100.00	% 
	 2
	  	 	98.80	% 
	 3
	  	 	97.60	% 
	 4
	  	 	96.40	% 
	 5
	  	 	95.30	% 
	 6
	  	 	94.10	% 
	 7
	  	 	93.00	% 
	 8
	  	 	91.90	% 
	 9
	  	 	90.80	% 
	 10
	  	 	89.70	% 
	 11
	  	 	88.60	% 
	 12
	  	 	87.60	% 
	 13
	  	 	86.50	% 
	 14
	  	 	85.50	% 
	 15
	  	 	84.40	% 
	 16
	  	 	83.40	% 
	 17
	  	 	82.40	% 
	 18
	  	 	81.40	% 
	 19
	  	 	80.40	% 
	 20
	  	 	79.50	% 
	 21
	  	 	78.50	% 
	 22
	  	 	77.60	% 
	 23
	  	 	76.70	% 
	 24
	  	 	75.70	% 
	 25
	  	 	74.80	% 
	 26
	  	 	73.90	% 
	 27
	  	 	73.00	% 
	 28
	  	 	72.20	% 
	 29
	  	 	71.30	% 
	 30
	  	 	70.40	% 
	 31
	  	 	69.60	% 
	 32
	  	 	68.80	% 
	 33
	  	 	67.90	% 

  

	3 	Starting with March 2013. 

					
	 34
	  	 	67.10	% 
	 35
	  	 	66.30	% 
	 36
	  	 	65.50	% 
	 37
	  	 	64.70	% 
	 38
	  	 	63.90	% 
	 39
	  	 	63.20	% 
	 40
	  	 	62.40	% 
	 41
	  	 	61.70	% 
	 42
	  	 	60.90	% 
	 43
	  	 	60.20	% 
	 44
	  	 	59.50	% 
	 45
	  	 	58.80	% 
	 46
	  	 	58.10	% 
	 47
	  	 	57.40	% 
	 48
	  	 	56.70	% 
	 49
	  	 	56.00	% 
	 50
	  	 	55.30	% 
	 51
	  	 	54.60	% 
	 52
	  	 	54.00	% 
	 53
	  	 	53.30	% 
	 54
	  	 	52.70	% 
	 55
	  	 	52.10	% 
	 56
	  	 	51.40	% 
	 57
	  	 	50.80	% 
	 58
	  	 	50.20	% 
	 59
	  	 	49.60	% 
	 60
	  	 	49.00	% 
	 61
	  	 	48.40	% 
	 62
	  	 	47.80	% 
	 63
	  	 	47.30	% 
	 64
	  	 	46.70	% 
	 65
	  	 	46.10	% 
	 66
	  	 	45.60	% 
	 67
	  	 	45.00	% 
	 68
	  	 	44.50	% 
	 69
	  	 	44.00	% 
	 70
	  	 	43.40	% 
	 71
	  	 	42.90	% 
	 72
	  	 	42.40	%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}]]