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<br />A-4 <br />Mounds View Loan Servicing Contract #3084 <br />621273v5MU205-13 <br /> <br />Both Client and CEE recognize that time is of the essence in responding to and approving or <br />declining Loan Modification requests. <br /> <br />CEE shall monitor Borrowers for compliance with the terms of the loan modification and make <br />such changes to the loan record as required by the modification terms. <br /> <br /> Special Servicing <br /> <br />CEE shall perform special servicing actions and steps at the direction of the Client for loans <br />subject to formal legal proceedings, including Bankruptcy, Foreclosure, Deed-in-lieu of <br />Foreclosure, Collections suits, Repossession, and Charge-offs involving either an obligor(s) or <br />guarantor(s). <br /> <br />CEE shall make no decisions or take actions independent of the Client, who shall have <br />final say in approval of any Special Servicing actions (other than routine steps taken to <br />protect or preserve Clients interests), unless Client has instructed CEE in writing that it <br />may approve and take such actions. <br /> <br />CEE must employ staff with expertise in the above areas and maintain compliance with <br />all applicable regulations. <br /> <br />CEE will follow customary, usual and prudent business practices in its review, processing, and <br />management of Special Servicing of Client loans, and keep Client informed of the status of loans <br />subject to Special Servicing. <br /> <br />Both Client and CEE recognize that time is of the essence in responding to and approving or <br />declining Special Servicing Actions. <br /> <br />CEE shall monitor Borrowers who are subject to Special Servicing, consistent with the governing <br />legal proceedings or requirements, and make such changes to the loan record as required to reflect <br />the Special Servicing requirements. With respect to Bankruptcy, the Special Servicing shall <br />include Filings, Proof of Claim, Repayment Plan setup and monitoring, and discharge/completion <br />processing. (See Exhibit B for pricing) <br /> <br />Other Servicing <br /> <br />CEE shall perform the following additional servicing actions and steps for loans as requested <br />by Client. CEE will follow customary, usual and prudent business practices in providing these <br />services. The Client shall bear all of CEE’s out of pocket costs for third parties related to these <br />items. CEE will notify Client of the potential out of pocket costs prior to performing any of the <br />additional actions. <br /> <br />o REO Marketing <br />o Insurance Inspections <br />o Default Inspections <br />o Property Valuation or Appraisal <br />o Property Preservation and security <br />