200709313 - Laserfiche WebLink

Browse

L'mited Power of Attorney Page 2 of 4 ,~, 200709313 7. The full assignment of a Mortgage, Deed of Trust or other security instrument upon payment and discharge of all sums secured thereby in conjunction with the refinancing thereof, including, without limitation, the assignment of the related Mortgage Note. 8. With respect to a Mortgage or Deed of Trust, the foreclosure, the taking of a deed in lieu of foreclosure, or the completion of judicial or nonwjudicial foreclosure or termination, cancellation or rescission of any such foreclosure, including, without limitation, any and all of the following acts: a. The substitution of trustee(s) serving under a Deed of Trust, in accordance with state law and the Deed of Trust; b. The preparation and issuance of statements of breach or nonwperformance; c. The preparation and filing of notices of default and/or notices of sale; d. The cancellation/rescission of notices of default and/or notices sale; e. The taking of deedwin-Iieu of foreclosure; and f. The preparation and execution of such other documents and performance of such other actions as may be necessary under the terms of the Mortgage, Deed of Trust or state law to expeditiously complete said transactions in paragraph B.a. through 8. e. above. 9. With respect to other security instruments the power to: a. Perform any other necessary acts of foreclosure and/or eviction. 10. With respect to the sale of real property acquired through a foreclosure or deed~in-Iieu of foreclosure, including, without limitation, the execution of the following documentation: a. Listing agreements; b. Purchase and sale agreements; c. Grant/warranty/quit claim deeds or any other deed causing the transfer of title of the property to a party contracted to purchase same; d. Escrow instructions; and e. Any and all documents necessary to effect the transfer of real property. 11. The modification or amendment of escrow agreements established for repairs to the mortgaged property. 12. The endorsement of loss drafts or other checks that are necessary to effectuate proper servicing of the loan. 13. When requested by the Trustee, respond to litigation complaints, naming the Trustee as a defendant. Trustee will be apprised of potential litigation by Master Servicer as soon as commercially reasonable. The undersigned gives said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned might or could do, and hereby does ratify and confirm to all the Limited Power of Attorney shall be effective as of November 1, 2006. This Appointment is to be construed and interpreted as a Limited Power of Attorney. The enumeration of specific items, rights, acts or powers herein is not intended to, nor does it give rise to, and it is not to be construed as a general power or attorney. Nothing contained herein shall (i) limit in any manner any indemnification provided by EMC to the Trustee under the Agreement, or (ii) be construed to grant EMC the power to initiate or defend any suit, litigation or proceeding brought against LaSalle Bank National Association as Trustee for the applicable trust, except as specifically provided for herein. If EMC receives any notice of suit, litigation or proceeding in the name of laSalle Bank National Association as Trustee, then EMC shall forward a copy of same to the Trustee within a reasonable period of time. I:\TransaetionMgmt\KOmNGER\POAS\BSABS 2006-AQl LaSalle Inv C76 C77 C88 COND TP0590