MGIC
Mortgage Guaranty Commitment/Certificate
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Mortgage Guaranty Insurance Corporation (the "Company"), 000 X. Xxxxxxxx
Xxxxxx/P.O. Box 488 Milwaukee, Wisconsin 53201-0488, hereby agrees to pay to the
Insured any Loss due to the Default by a Borrower on the Loan identified below,
subject to the terms and conditions of the Master Policy, the conditions noted,
if any, and in reliance on the Insured's application for insurance.
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Insured Bank One National Association as Trustee for the
Name Amortizing Residential Collateral Trust Mortgage
Mailing Pass-Through Certificates, Series 2001-BC5
Address Xxx Xxxx Xxx Xxxxx, Xxxx Xxxxx XX0-0000
Xxxxxxx, Xxxxxxxx 00000
Master Policy # 12-136-4-1893 /Total Amount Due $ See 1st billing
COMMITMENT/
CERTIFICATE To be Assigned /Initial Premium $ See 1st Billing
Commitment
Effective Date 07/01/2001 /Amount of Loans Insured $69,251,566.10
in aggregate
and as identified
on Appendix A
Commitment
Expiration Date 08/31/2001 /Amount of Coverage See list of loans
identified on
Appendix A
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LOAN INFORMATION
Borrower Name: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate.
Property Address: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate.
Sale Price: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate. /
Appraised Value: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate. /
Amortization Period: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate.
(Continued on Attachment 1)
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Initial Premium Description Annual Renewals %
See Attachment 1
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COMPANY'S DECLARATION: The Company has obtained the above Loan information from
the Loan application and supporting documentation submitted by the Insured. The
Company has relied on the Loan information being correct and true in extending
coverage to the Loan. The Company considers the Loan information to be
representations of the Insured which are material to the Company's acceptance of
the risk and to the hazard assumed.
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INSURED CERTIFICATION: The undersigned certifies that the: 1) Loan transaction,
as described above, has been Consummated; 2) Loan information set forth above on
the Original Commitment/Certificate (C/C) is true and correct and the Company
can rely on it in extending coverage to the Loan; 3) Loan is not in Default at
the time the applicable premium is paid; 4) Conditions, if any, identified on
the Original C/C, have been satisfied; 5) Insured has attached to its retained
original C/C the insured Application and all supporting documentation and
representations submitted to the Company by or on behalf of the Insured; and 6)
Insured has no knowledge of any material changes in any statement contained in
such Application, supporting documentation or representations.
MGIC
Mortgage Guaranty Commitment/Certificate
Attachment 1
Any assignment of the servicing of the Loan or rights of the Insured under the
C/C must be in accordance with the terms and conditions of the Master Policy.
All capitalized terms herein shall have the same meaning set forth in the Master
Policy.
SERVICING SOLD? If so, complete the SERVICING DATA BOX on
REMITTANCE COPY you send to MGIC.
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Effective Date of Certificate Insured Loan Number Authorized Signature of Insured
07/01/2001
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Form #71-7066 (2/94) Sign and keep this Original Commitment/Certificate. DO NOT SEND TO MGIC.
MGIC
Mortgage Guaranty Commitment/Certificate
Attachment 1
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The Company hereby insures a total of 497 loans, identified on the attached
Appendix A (individually a "Loan" or collectively the "Loans"), with an
aggregate Amount of Loan Insured (for all Loans) of $69,251,566.10 as identified
above. The Amount of Loan Insured and the Amount of Coverage for each individual
Loan are as shown on Appendix A.
The initial and renewal premium will be non-refundable and will be payable
monthly for each month coverage remains in effect. Such premiums are calculated
as a per annum percentage of 135 basis points (1.35%) applied to the scheduled
principal balance of each Loan determined as of the beginning of the prior
month. The quoted premium rate does not reflect premium taxes which are due and
required to be paid by the insured in the states of Kentucky and West Virginia.
The portfolio contains 1 loan in these states.
In issuing this Commitment/Certificate for the Loans, the Company relied upon
certain information and data received from the Insured and/or Xxxxxx Brothers,
Incorporated, including, but not limited to information and data contained in
several Internet file transfers to the Company from Xxxxxx Brothers in July and
August, 2001, and a letter agreement dated August 10, 2001, between the Company,
the Insured, and Xxxxxx Brothers, all of which will be considered part of the
"Application" or "Transmittal" for insurance of the Loans, such Internet files
and letter being attached to and made a part of this Commitment/Certificate.
Pursuant to Section 2.7(a) of the Master Policy referred to above this
Commitment/Certificate is certified and becomes effective without the Insured's
execution and return of same.
This Commitment/Certificate is also subject to the terms and conditions of the
following Endorsements, which are applicable to all of the Loans:
(1) Master Reporting Program Endorsement -- MGIC
Form #71-70182 (2/01)
(2) Endorsement to Mortgage Guaranty Master Policy -- MGIC
Form #71-70183 (2/01)
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MGIC
Mortgage Guaranty Commitment/Certificate
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Mortgage Guaranty Insurance Corporation (the "Company"), 000 X. Xxxxxxxx
Xxxxxx/P.O. Box 488 Milwaukee, Wisconsin 53201-0488, hereby agrees to pay to the
Insured any Loss due to the Default by a Borrower on the Loan identified below,
subject to the terms and conditions of the Master Policy, the conditions noted,
if any, and in reliance on the Insured's application for insurance.
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Insured Bank One National Association as Trustee for the
Name Amortizing Residential Collateral Trust Mortgage
Mailing Pass-Through Certificates, Series 2001-BC5
Address Xxx Xxxx Xxx Xxxxx, Xxxx Xxxxx XX0-0000
Xxxxxxx, Xxxxxxxx 00000
Master Policy # 12-136-4-1893 /Total Amount Due $ See 1st billing
COMMITMENT/
CERTIFICATE To be Assigned /Initial Premium $ See 1st Billing
Commitment
Effective Date 07/01/2001 /Amount of Loans Insured $115,762,883.11
in aggregate and
as identified on
Appendix A
Commitment
Expiration Date 08/31/2001 /Amount of Coverage See list of loans
identified on
Appendix A
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LOAN INFORMATION
Borrower Name: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate.
Property Address: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate.
Sale Price: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate. /
Appraised Value: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate. /
Amortization Period: See Attachment 1 for incorporation by reference of all
other Loan information referred to in this section of the
Commitment/Certificate.
(Continued on Attachment 1)
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Initial Premium Description Annual Renewals %
See Attachment 1
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COMPANY'S DECLARATION: The Company has obtained the above Loan information from
the Loan application and supporting documentation submitted by the Insured. The
Company has relied on the Loan information being correct and true in extending
coverage to the Loan. The Company considers the Loan information to be
representations of the Insured which are material to the Company's acceptance of
the risk and to the hazard assumed.
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INSURED CERTIFICATION: The undersigned certifies that the: 1) Loan transaction,
as described above, has been Consummated; 2) Loan information set forth above on
the Original Commitment/Certificate (C/C) is true and correct and the Company
can rely on it in extending coverage to the Loan; 3) Loan is not in Default at
the time the applicable premium is paid; 4) Conditions, if any, identified on
the Original C/C, have been satisfied; 5) Insured has attached to its retained
original C/C the insured Application and all supporting documentation and
representations submitted to the Company by or on behalf of the Insured; and 6)
Insured has no knowledge of any material changes in any statement contained in
such Application, supporting documentation or representations.
Mortgage Guaranty Commitment/Certificate
Attachment 1
Any assignment of the servicing of the Loan or rights of the Insured under the
C/C must be in accordance with the terms and conditions of the Master Policy.
All capitalized terms herein shall have the same meaning set forth in the Master
Policy.
SERVICING SOLD? If so, complete the SERVICING DATA BOX on
REMITTANCE COPY you send to MGIC.
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Effective Date of Certificate Insured Loan Number Authorized Signature of Insured
07/01/2001
====================================================================================================================================
Form #71-7066 (2/94) Sign and keep this Original Commitment/Certificate. DO NOT SEND TO MGIC.
MGIC
Mortgage Guaranty Commitment/Certificate
Attachment 1
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The Company hereby insures a total of 854 loans, identified on the attached
Appendix A (individually a "Loan" or collectively the "Loans"), with an
aggregate Amount of Loan Insured (for all Loans) of $115,762,883.11 as
identified above. The Amount of Loan Insured and the Amount of Coverage for each
individual Loan are as shown on Appendix A.
The initial and renewal premium will be non-refundable and will be payable
monthly for each month coverage remains in effect. Such premiums are calculated
as a per annum percentage rate as shown per loan on Appendix A, applied to the
scheduled principal balance of each Loan determined as of the beginning of the
prior month. The quoted premium rate does not reflect premium taxes which are
due and required to be paid by the insured in the states of Kentucky and West
Virginia. The portfolio contains some loan in these states.
In issuing this Commitment/Certificate for the Loans, the Company relied upon
certain information and data received from the Insured and/or Xxxxxx Brothers,
Incorporated, including, but not limited to information and data contained in
several Internet file transfers to the Company from Xxxxxx Brothers in July and
August, 2001, and a letter agreement dated August 10, 2001, between the Company,
the Insured, and Xxxxxx Brothers, all of which will be considered part of the
"Application" or "Transmittal" for insurance of the Loans, such Internet files
and letter being attached to and made a part of this Commitment/Certificate.
Pursuant to Section 2.7(a) of the Master Policy referred to above this
Commitment/Certificate is certified and becomes effective without the Insured's
execution and return of same.
This Commitment/Certificate is also subject to the terms and conditions of the
following Endorsements, which are applicable to all of the Loans:
(1) Master Reporting Program Endorsement -- MGIC
Form #71-70182 (2/01)
(2) Endorsement to Mortgage Guaranty Master Policy -- MGIC
Form #71-70183 (2/01)
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