Professional Documents
Culture Documents
*1171$.0.S.S:.E.T.
NOW,TtiERI..tt )R I:, in consideration of the mutual representations. warranties and covenants set forth
herein, the and sullienc) of .%hich are heretr,, acknowledged, the parties hereto agree as foilo%%s.
1. Sale and Assignment. Seller'will sell,convey.transfer and assign to Purchaser all of Seller's
right., title and Owrtership inter.t in and to all Loans:that:the laxities mutually agree are to he sold pursuant to this
A.O.X.%.."efftent• 44eXpressly agreed that the ov,iterSiiip.114044(be.iiig;t01.0 AO Purchaser shall sold ii 'AS IS
faults.- without an!. I-cc(); rse 1 ilap,ts4evef.ancfwtthntn any warranty eNovssed or
Imphed Ar.ty.ts,inli..character or naturc. except ts,.spg0iip.at.i.y.:spt. fOrth•herein. In addition. Purehaseroelcnowledees
that aU Loan .tafrs are at Thesok option orsoio;:and that Seller a inildng no comm niuen t vOl:..aoyrOti,imura
StillUthelLOatis..tiorstinting to Purchaser anraieliaifalty.:40Ption to Purchase any Loans.
IttlYback• Sel ill 0111> hu twit:Attain ft am the Ptirchaser if(a)prior to the sale, seller did
notdiacliareocribe Purchaser that the borrower ‘s as htliat*.ruptc prior to or at the time ot the .sale or bl prior to the
sale*iterliad represented to Purchaser that the loan wassecured by a valid and enforceable hell When it was not,
Limitation on Buyback: In connection with a 1311y hack pursuant to Section 2„ Seike shall
reimburse Porchaser for e\poises incurred k Purchaser and pi ON en to Seller's satisfaction in %Tiling;
bovivr, itt no event shall seller be revonsibli: for such c'pcii..c ceedai. in the aggregate. the letiefieS3.0130
Ill!.4i;of.ttw:purtRitase
Purchase price; Pay meat The parchase.pritetorithc:Loans shall be equal to the agreed
to*Seller and Purchaser,as e‘ ideneed the:Selietiale that:Win:6%i attached to and incorporatettintoihl&
Agrierneat. Thelkat of fundi Ile of the purchaseiprieeibra:toitiSktiltbe the ' .*Closing Date"; 54:iiati ihiaB.be the
dawthatfownership.of t he 1 au n \.....sts in Purchaser;Thetlosing•Pare
. . . Shall occur within seveii:(7)40i:filter
pot$0441! Oy 'Seller to Poraaser din Purchasefitiii&W been .accepted.
1)0e:twenty. Further Assurances, liter The Closing Date. Purchaser shall prepare:anddetiVertu
Seller aSSigrittieins artily a ado.I rti! mortgages, deeds of Ira and a other imtroments evidencing*stearingany
Loan as are reasonably.rtcces-,ar to transfer to Purchaser ail of Selter's right. title and owneriliktinterestirtand to
die:related Loan and Setter iete.. to prompt IN execute, evidi.F.e and (lett,.Cr executed instratneinstO'PM-chaser.
Purehasershall he responsti-..k. Jot rc-cor,ifiaz -.act! iriciadir)t,!. the recw.dingfeesApplteabi„,
$4101.10,..*.datt oil Which Seltcr eoc set, .ic tug the I .oalh 4t)ii th dAtc Oil cc titeh the Pi ircitaWtgoyuriences
see:liking:the Loans shall be lIt Ititister Se ti;;:- will continue to servio: the Loan on behtil(ot.PurcILiser ii
doctirdaita With its.standard practices and procedure from the( losing I )ate up lo the Trani,40001.,k!ut in no event
1.4tger.thilit30:datiSikitt the Closing Date. the paties reasooakty cooperate in pray idiftgitiYittatiges.or
•'4isehlS411.*..:reglItked.S$r.aPplicakic Ia‘‘ in ci.)nns•ction VV.411.11IC transfer of any Loan includnte any requiiediuttice
underthe ReatgalattiSenternerit Procedures Act for transters.offirst lien mortgage loam: and any not icetander tlu
..* gAet truritianSfees Of tomb.
'Reprvsy n tat ion and Watt3 tithes a Seller. Seller represeins and \.carrantslOPutehaser the
1otlowingas ofthe,date ofthigrc:e h -Au!t be deemed made a,.of each applicable Ciaiingtitite:
7. Representations and warranties of Purchaser. Purchaser represents and warrants to Seller the
following as of the date of this Agreement. which shrill be deemed made as of each applicable Closing Date:
ta) Authority. Purchaser has alt requisite power and authorit) to execute and enter into this
Agreement and to perfiirm lull). or eause to be performed its duties obligations
hereunder.
(t S 4lidul Enforceability. A ssmniagduc:e.secution and deli\ er) by Seller. this .Agreement
constitutes a valid and legally binding agreement of Purchaser en foreeable agaitist:PurchtiS&
in accordancev th its terms(subject to bankruptcy and similar lawsgenerally affeeting the
rights of eredni)rsi
tit No Coniliet. 1 he execution. deli% cry and performance of this Agreement by Purchaser, Will
v 10LI e or conflict with crill,:i4)04ition or other provision ofany other agreement to
hu,:h Purchaser i‘ a part:. .trh t,hiett. 11 may be hound,
d Rel.;mce- hie Dilqtetti.. Port baser is experienced in loan s.iles ofthe type contemplated
A.t.res.tirtint and has taken such step% as it deems appropriate with respect:to Conducting
due diligence w lii ;c- pet 1110 \Litt:\ and qualit- of are related Loan.
it.) Purchaser i,._now ta! ai loan is sold. transferred. assigned and conveyed on an "AS IS.,
Vi. UI RI basis. ),4•1i 11 A1.1.1 .M.1.1 Purchitw.r hereby acknow ledges that
Seller makes no warranty or representation. express or implicd, or arising by operation of law.
including. hut not limited to , any win-rarity of condition. habitability • merchantabilit), or
fitness for a particular porpos,: of the relatA real estate property or any portion thereof. or with
respect to the environmental condition ofsuch property .
(f) Purchaser represents and wItrutrus.k.te and.covenant., ‘‘.ith, Seller that as of the transfer Pgt.e.;
Purchaser, or it desil4nee, ht!tildt&votary approvals ',aid capacity to service the Loans in
aecorthinee ith the tenns:ortheLOtto documents as well as all applicable laws rules and
regulations l'orehtKer ttgreetv.tb„Mdertmifyartd hold Seller harmless frowaritt'against any
liabilities and ins related expenses losses claims or damages that artrelii4tito-cir:.thitik frOnt-
the servicing or ownership orthe I onus after therransfer Date.
S. Servicing Following Applicable Closing Date. On the 1 ransfer Dine, Purchaser shaltassUnte
Pesponsibility liiservicing and agrees to service is I \tan in accordance smith accepted mortgae servicing
practices of prudent lending institution,, and all applicable federal. state and local laws and regulations including
.bittntitlintited to the lair Debt Collection Practices Act and acknowledges that Seller shall have no further rights,
duties obligations liabilities or responsibilities with respect to the related Loan on and after the Transfer Date.
9. Notice. All notices or other communications required or permitted tinder this Agreement shall be
in Writing and.shall he deemed to have been duly given either at the time of delivery, if personally delivered. or
sovelity4W0:4. 7.2)houn; atter the time of mailing, iftymiled first class. postage prepaid,return receipt requested,
:and addressed to the respective parties as follows:
-rttrehaser Capital,partnetC,INC,
;1:10:1:NW VOrPOttelltyd.$to. 10.2:
.000:Ratco;
• 10.. Remedies- In the evehttatailyhmiCh by:a :part. ) .:;- cement with egspettio.o,y
rePreSenintiOn... Warranty or.OhligatiOnitetentitkarhe.bitathitiv : indetnnify..„*.fend'Aind:.hbld.tbe
.0.00.reat.hift PlITIY.barrttlt$sffetn.aftY-Onifft.:tielflal14,.4.XpOIN; .;, ar king fronk:s14.11.nreadi...
If.. iseer inous.Ibis A,,,_,recnIentipngfOges.the entire ageenient bet::cell the parties hereto
penantintto ib heumilt 1:sr h r ot n iperst!des all prior And contemporaneous
.M4:.reftreStratii t.)1 I a she part iL-; in i:.cirinoctitio 4141:rt-A ill'. hciber OF ii Iill ii ecili to ;11, eNteal
agreement. inIder.lantiso... u 40 .44 FF431 Iiiicorporated,or re tl-ftlieoti het :sin. i his Ag,n.2e13.1e111 sir..;11
binding upon and shill Inure to the benefit.afthe valid legatpersonal represcritatiN cs. ,tii.:cessors and assigns of
thepartiei hereto. Thiii Agreement stiall'belovernetityindinierpreted in accordance kir ith federal Iliniiyartilin the
atdoeCtlferept in'llettirdarice v1ith ilk' la VNI:iftib0.'Ntaig.at,tew .vork 1.pilticabie to .ontl8clb Made and:1060i
PerfOrtnecr.4011Y..-*.ithin i.I itt. U 41.1) PlIg.(4):91'...1110re.ofthe covenants provisions> ti3rOks;c1tPflflOitiOn, :of.
.......... is held to be invalid kg uneatortegifilt:figt
this Agreement; .. . reason
air.; \ cr. such holdings.Shalt nofaffect the.
va0typtenktreeabilhyol::arlY Other..enarn„,prOision, To': et bit I t herein,.
1$.. Survi8 at of Agreement. I Ills Agseente multi/kis provisions .1% tCh the partteherettiintend
.retnalivin:effeet alteril 1c1'..111‘, I ale Iransaction.cniteinplati:d b2. I lm Aecotdir.iltity,:thit:AO.eeMent
ih9survendrni.jinn in efred :1j4-f• such closing,
I 17 nturorct..litt. hoc ail pul OCSAirthiS. Agreement. in it ial capitalized ternis:ntedletein have
the mean 11e: ; '3 ;.! A.ge:eedlenI, :E:XcOct Og.espros.siy other:4 pri.IVdtdhotio or:htan:lbe;e0ritext
O. Term and Termintkrn lhi Agreementsliail roam ron ihoefrective &iteeredttiritil tither
:party giy,efi:.pripi- :4torrnitlation for ilny.relvp.:4)...:1IW...pliaer parq. Arty notice:,of termination..,141411.• not •
flout
,
.nPf.tiO tixii.!nle'of...an,y LIAM.thatNs4.5.1tgrced,to.p(tqt....to.ofroctive.i•dat.0:.:of,,tictt notice. and all repmetittniOnt..
.worapiks.isnd:104.0.ropM410:017 obhgaron.Apil .stieteiv .triiiitiatioti of the Agreement.
•SEU.ER:
JPMOR("*CHASE BA ,NA
ntie: _ .S/6
S
[AL_
PURCHASER:
By: S A C Jt r
Name Lo f4kr
'I Ale:
MOO: