FILED: NEW YORK COUNTY CLERK 06/21/ :46 PM INDEX NO /2016 NYSCEF DOC. NO. 43 RECEIVED NYSCEF: 06/21/2017

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1 Lovitt Affirmation Exhibit L No Duty to Notify Servicers of Events of Default Exemplar Provision: Servicer Events of Default. (a) Servicer Event of Default, wherever used herein, means any one of the following events: (i) any failure by the Servicer to remit to the Trustee for distribution to the Certificateholders any payment (other than an Advance required to be made from its own funds on any Servicer Remittance Date pursuant to Section 4.03) required to be made under the terms of the Certificates and this Agreement which continues unremedied for a period of 5 Business Days after the date upon which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Depositor or the Trustee (in which case notice shall be provided by telecopy), or to the Servicer, the Depositor and the Trustee by the Holders of Certificates entitled to at least 25% of the Voting Rights; or (ii) any failure on the part of the Servicer duly to observe or perform in any material respect any other of the covenants or agreements on the part of the Servicer contained in this Agreement, or the breach by the Servicer of any representation and warranty contained in Section 2.05, which continues unremedied for a period of 30 days (or if such failure or breach cannot be remedied within 30 days, then such remedy shall have been commenced within 30 days and diligently pursued thereafter; provided, however, that in no event shall such failure or breach be allowed to exist for a period of greater than 90 days) or 15 days in the case of a failure to pay the premium for any insurance policy required to be maintained under this Agreement after the earlier of (i) the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Depositor or the Trustee, or to the Servicer, the Depositor and the Trustee by the Holders of Certificates entitled to at least 25% of the Voting Rights and (ii) actual knowledge of such failure by a Servicing Officer; or (iii) a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law or the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceeding, or for the winding-up or liquidation of its affairs, shall have been entered against the Servicer and such decree or order shall have remained in force undischarged or unstayed for a period of 90 days; or (iv) the Servicer shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to it or of or relating to all or substantially all of its property; or

2 (v) the Servicer 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; or (vi) any failure by the Servicer of the Servicer Termination Test; or (vii) any failure of the Servicer to make any Advance on any Servicer Remittance Date required to be made from its own funds pursuant to Section 4.03 which continues unremedied until 12:00 p.m. New York time on the Business Day immediately following the Servicer Remittance Date. If a Servicer Event of Default described in clauses (i) through (vi) of this Section shall occur, then, and in each and every such case, so long as such Servicer Event of Default shall not have been remedied, the Trustee may, and at the written direction of the Holders of Certificates entitled to at least 66% of Voting Rights, the Trustee shall, by notice in writing to the Servicer and to the Depositor, terminate all of the rights and obligations of the Servicer in its capacity as Servicer under this Agreement, to the extent permitted by law, in and to the Mortgage Loans and the proceeds thereof. If a Servicer Event of Default described in clause (vii) hereof shall occur, the Trustee shall, by notice in writing to the Servicer, terminate all of the rights and obligations of the Servicer in its capacity as Servicer under this Agreement in and to the Mortgage Loans and the proceeds thereof and the Trustee as successor Servicer, or another successor servicer appointed in accordance with Section 7.02, shall immediately make such Advance. On or after the receipt by the Servicer of such written notice, all authority and power of the Servicer under this Agreement, whether with respect to the Certificates (other than as a Holder of any Certificate) or the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee pursuant to and under this Section, and, without limitation, the Trustee is hereby authorized and empowered, as attorney-in-fact or otherwise, to execute and deliver, on behalf of and at the expense of the Servicer, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans and related documents, or otherwise, provided, however, the parties acknowledge that notwithstanding the preceding sentence there may be a transition period, not to exceed 90 days, in order to effect the transfer of the Servicing obligations to the Trustee or other successor servicer. The Servicer agrees promptly (and in any event no later than ten Business Days subsequent to such notice) to provide the Trustee with all documents and records requested by it to enable it to assume the Servicer s functions under this Agreement, and to cooperate with the Trustee in effecting the termination of the Servicer s responsibilities and rights under this Agreement, including, without limitation, the transfer within one Business Day to the Trustee for administration by it of all cash amounts which at the time shall be or should have been credited by the Servicer to the Custodial Account held by or on behalf of the Servicer, the Certificate Account or any REO Account or Servicing Account held by or on behalf of the Servicer or thereafter be received with respect to the Mortgage Loans or any REO Property serviced by the Servicer (provided, however, that the Servicer shall 2

3 continue to be entitled to receive all amounts accrued or owing to it under this Agreement on or prior to the date of such termination, whether in respect of Advances, Servicing Advances or otherwise, and shall continue to be entitled to the benefits of Section 6.03, notwithstanding any such termination, with respect to events occurring prior to such termination). For purposes of this Section 7.01, the Trustee shall not be deemed to have knowledge of a Servicer Event of Default unless a Responsible Officer of the Trustee assigned to and working in the Trustee s Corporate Trust Office has actual knowledge thereof or unless written notice of any event which is in fact such a Servicer Event of Default is received by the Trustee and such notice references the Certificates, the Trust Fund or this Agreement. CARR 2006-RFC1 PSA The following Governing Agreements contain a provision(s) to the same effect: 1. AABST PSA 7.1 Ex AABST PSA 7.1 Ex ABFC 2004 OPT1 PSA 7.01 Ex ABFC 2004 OPT2 PSA 7.01 Ex ABFC 2004-OPT3 PSA 7.01 Ex ABFC 2004 OPT4 PSA 7.01 Ex ABFC 2004 OPT5 PSA 7.01 Ex ABFC 2005 HE2 PSA 7.01 Ex ABFC 2005 OPT1 PSA 7.01 Ex ABFC 2005 WMC1 PSA 7.01 Ex ABFC 2006 OPT2 PSA 7.01 Ex ABFC 2006 OPT3 PSA 7.01 Ex ABFC 2007 NC1 PSA 7.01 Ex ABSHE 2004 HE2 PSA 7.01 Ex ABSHE 2004 HE3 PSA 7.01 Ex ABSHE 2005 HE3 PSA 7.01 Ex ABSHE 2005 HE5 PSA 7.01 Ex ABSHE 2005 HE6 PSA 7.01 Ex ABSHE 2007 HE2 PSA 7.01 Ex BCAP 2006 AA1 Servicing Agreement 6.01 Ex BSABS 2004 BO1 PSA 8.01 Ex CARR 2006 FRE1 PSA 7.01 Ex CARR 2006 FRE2 PSA 7.01 Ex CARR 2006 NC1 PSA 7.01 Ex CARR 2006 NC2 PSA 7.01 Ex CARR 2006 NC3 PSA 7.01 Ex CARR 2006 NC4 PSA 7.01 Ex CARR 2006 NC5 PSA 7.01 Ex CARR 2006 OPT1 PSA 7.01 Ex

4 30. CARR 2006 RFC1 PSA 7.01 Ex CARR 2007 FRE1 PSA 7.01 Ex CARR 2007 RFC1 PSA 7.01 Ex CMLTI 2004 OPT1 PSA 7.01 Ex FFML 2004 FF1 PSA 7.01 Ex FFML 2004 FF11 PSA 7.01 Ex FFML 2004 FF2 PSA 7.01 Ex FFML 2004 FF5 PSA 7.01 Ex FFML 2004 FF6 PSA 7.01 Ex FFML 2004 FF8 PSA 7.01 Ex FFML 2004 FFH2 PSA 7.01 Ex FFML 2005 FF6 PSA 7.01 Ex FFML 2005 FFH1 PSA 7.01 Ex FFML 2006 FFH1 PSA 7.01 Ex IMSA PSA 7.01 Ex IMSA PSA 7.01 Ex IRWHE 2006-P1 SSA 7.01 Ex MABS 2004 OPT1 PSA 7.01 Ex MABS 2004 OPT2 PSA 7.01 Ex MABS 2005-OPT1 PSA 7.01 Ex MLCC PSA 6.14 Ex MLCC 2004 A Reconstituted Servicing Agreement Ex MLCC 2004 B PSA 6.14 Ex MLCC 2004 C PSA 6.14 Ex MLCC 2004 D PSA 6.14 Ex MLCC 2004 E PSA 6.14 Ex MLCC 2004 F PSA 6.14 Ex MLCC 2004 G PSA 6.14 Ex MLCC 2004 HB1 PSA 6.14 Ex MLCC PSA 6.14 Ex MLCC 2005 A PSA 6.14 Ex MLCC 2005 B PSA 6.14 Ex MLCC PSA 6.14 Ex MLMI 2004 HE1 PSA 7.01 Ex MLMI 2004 HE2 PSA 7.01 Ex MLMI 2004 OPT1 PSA 7.01 Ex MLMI 2004 WMC1 PSA 7.01 Ex MLMI 2004 WMC3 PSA 7.01 Ex MLMI 2004-WMC4 PSA 7.01 Ex MLMI 2005 FM1 PSA 7.01 Ex MLMI 2006 F1 PSA 6.14 Ex MLMI 2006 HE1 PSA 7.01 Ex

5 72. NAA 2004-AP3 PSA 8.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT PSA 7.01 Ex OOMLT 2007 CP1 PSA 7.01 Ex OOMLT 2007 FXD1 PSA 7.01 Ex OWNIT PSA 7.01 Ex PPSI 2004 MCW1 PSA 7.01 Ex PPSI 2004 MHQ1 PSA 7.01 Ex PPSI 2004 WCW1 PSA 7.01 Ex PPSI 2004 WCW2 PSA 7.01 Ex PPSI 2004 WHQ1 PSA 7.01 Ex PPSI 2004 WHQ2 PSA 7.01 Ex PPSI 2005 WCH1 PSA 7.01 Ex PPSI 2005 WCW1 PSA 7.01 Ex PPSI 2005 WCW2 PSA 7.01 Ex PPSI 2005 WCW3 PSA 7.01 Ex PPSI 2005 WHQ1 PSA 7.01 Ex PPSI 2005 WHQ2 PSA 7.01 Ex PPSI 2005 WHQ3 PSA 7.01 Ex PPSI 2005 WHQ4 PSA 7.01 Ex PPSI 2005 WLL1 PSA 7.01 Ex RAMC PSA 8.01 Ex RAMC PSA 8.01 Ex RAMC PSA 8.01 Ex SVHE 2007 OPT1 PSA 7.01 Ex SVHE 2007 OPT2 PSA 7.01 Ex SVHE 2007 OPT3 PSA 7.01 Ex SVHE 2007 OPT4 PSA 7.01 Ex SVHE 2007 OPT5 PSA 7.01 Ex