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<br /> . ;,r. ' ' Advanta •Mortgage Corp. u�A � -•--
<br /> ' , •]6875 W. Bernardo Drive ---_
<br /> :"'"�"� San Diego,, 'CA 92127 ���--
<br /> _.�,.�
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<br /> � LIMIT�D POWER OF ATTORNEY -___
<br /> � 97- 110942 �����:�==__
<br /> This Limited Power of Attorney is made u of December 4. 1996 by Prefen�d ;�-
<br /> - Mortg�ge CarporAtion, having an office at 19782 MacArthur Slvd., Suite 250, Irvine, �,;; -
<br /> ' CA 92715 ("Owner"), in favor of Adv�nta Mortg��e Corp. USA, a Delawere �`-
<br /> �� corporation, having an o8ice at 16875 West Bernardo Drive, San Diego, CA 92127 ����
<br /> �- ("Servicer"). �.�
<br /> .s
<br /> � WI�ItEAS, Owner and Servicer have executed und delivered a cert�in Loan i.�_'
<br /> Servicing Agreement dated as af March 8, l 996(the"Servicing Agreement"), pwsuant to
<br /> which Owner and 5ervicer agrad to certain terms governing the servicing of single family
<br /> �' mortgage loans("Mortgage Loans")by SPrvicer on behalf of Owner;and �-
<br /> WHEREAS, Owner and Servicer desire that Owner execute and deliver this __
<br /> Limited Power of Attorney in order to facilitate the servicing of the Mortgage Loans by ` -
<br /> -----_ . ,_� pi.
<br /> •Servicer. �:�:,
<br /> �_
<br /> NOW Tf�REFORE, Ownar daes hereby appoint, subject to and in accordance
<br /> with the Servicing Agreement, Servicer, as its attorney-in-fact, in its name, place and
<br /> stead: -
<br /> 1) To execute all documents necessary to satisfy or discharge "Mortgages" and
<br /> "Notes" (as defined in the Servicing Agrcement) upon receipt of all principal,
<br /> interest and other payments called for in the related lien documents; -
<br /> 2) To take such actions as are necessary and appropriate to pursue, prosecute and
<br /> " ' defend foreclosures(or other comparable conversions to ownership), ejectments,
<br /> ' evictions, bankruptcies, suits and other related matters with respect to
<br /> . "Mortgaged Properties" (as defined in the Servicing Agreement), in accordance -
<br /> " with Servicing Agreement;
<br /> 3) To execute all deeds,deeds to secure debt, assignments,transfers, tax declarations, �"cfi
<br /> ' certificates,pledges and any other documents or instruments whatsoever which are —..
<br /> necessary, appropriate, or required in order to trxnsfer and assign Mortgaged ���-.-
<br /> Properties acquired by Owner either by foreclosure or by deed in lieu of E""-`
<br /> foreclosure and any such deed to be without reeourse; �=�-
<br /> 4) To take such further actions as are d�emed necessary or desirable to service, -
<br /> administer, and onforce the terms of said Mortgage Loans in accordance with tho =_-
<br /> Servicing Ageement;and -'�
<br /> �•�..
<br /> :._.,.
<br /> 5) To endorse checks, notes, drafts and other evidences of paytt�ent made payable to �
<br /> the Owner, representing payments on accounts in the name of the Owner.
<br /> Until a properly exectated revocation of this Limited Power of Attorney is duly
<br /> ._.J executed and delivered, all qarties dealing with said attorney-in-fact (individually or �
<br /> ! coUectively)in connection with the above described matters may fully rely upon the power
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