HomeMy WebLinkAbout902433 RECEIVED
LINCOLN CO!Ii",ITY CLERK
902h33
LIMITED POWER .OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that Deutsche Bank National Trust
Company, a National banking association organized and existing
under the laws of the United States, formerly known as Bankers
Trust Company of California, N.A. and having its principal place
of business at 1761 East St. Andrew Place,. Santa Ana, California,
92705, as Trustee (the" Trustee") pursuant to those certain
agreements referenced on Exhibit A (the "Agreements") hereby
constitutes and appoints IndyMac Bank, F.S.B. (the "servicer"),
by and through the Serv~cer's officers, t~e Trustee's true and
lawful Attorney-in-Fact, in the Trustee's name, place and stead
and for the Trustee's benefit, in connection with all mortgage
loans serviced by the Servicer pursuant to the Agreements solely
for the purpose of performing such acts and executing such
documents in the name of the Trustee necessary and appropriate
to effectuate the following enumerated transactions in respect of
any of.the mortgages or deeds of trust (the "Mortgages" and the
"Deeds of Trust" respectively) and promissory notes secured
thereby (the "Mortgage Notes") for which the undersigned is
acting as Trustee for various certificateholders noteholders
bondholders (whether the undersigned is named therein as
mortgagee or beneficiary or has become mortgagee by virtue of
endorsement of the Mortgage Note secured by any such Mortgage or
Deed of Trust) and for which IN-DYI~AC BA/~K, F.S.B is acting as the
Servicer.
This Appointment shall apply only to the following enumerated
transactions and nothing herein or in the Agreements shall be
construed to the contrary:
The modification or re-recording of a Mortgage or Deed
of Trust, where said modification or're-recording is
solely for the purpose of correcting the Mortgage or
Deed of Trust to conform same to the original intent of
the parties thereto or to correct title errors
discovered after such title insurance was issued;
provided that (i) said modification or re-recording, in
either instance, dpes not adversely affect the lien of
the Mortgage or Deed of Trust as insured and
(ii) otherwise Conforms to the provisions of the
Agreement.
0-098
o
The subordination of the lien of a Mortgage or Deed of
Trust to an easement in favor of a public utility
company of a government agency or unit with powers of
eminent domain; this section shall include, without
limitation, the execution of partial
satisfactions/releases, partial reconVeyances or the
execution or requests to trustees to accomplish same.
The conveyance of the properties to the mortgage
insurer, or the closing of the title to the property to
be acquired as real estate owned, or conveyance of
title to real estate owned.
The completion of loan assumption agreements.
The full satisfaction/release of a Mortgage or Deed.of
Trust or full conveyance upon payment and discharg~.,of
all sums secured thereby, including, without
limitat%on, cancellation of the related Mortgage Note.
The assignment of any Mortgage or Deed of Trust and the
related Mortgage Note, in connection with the
repurchase of the mortgage loan secured and evidenced
thereby.
The full assignment of a Mortgage or Deed of Trust 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.
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 non-
judicial foreclosure or termination, cancellation or
rescission of any such foreclosure, including, without
limitation, any and all of the following acts:
a o
the substitution'of trustee(s) serving under a
Deed of Trust, in accordance with state law and
the Deed of Trust;
b o
the preparation and issuance of statements of
breach or non-performance;
the preparation and filing of notices of default
and/or notices of sale;
2
0999
e o
the cancellation/rescission of notices of default
and/or notices of sale;
the taking of deed in lieu of foreclpsure; and
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 paragraphs 8.a.
through 8.e. above.
With respect to the sale of property acquired through a
foreclosure or deed-in lieu of foreclosure, including,
without limitation, the execution of the following.'
documentation:
a. listing agreements;
b. purchase and sale agreemenns;
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
any and all documents necessary to effect the
transfer of property.
10.
The modification or amendment of escrow agreements
established for repairs to the mortgaged property or
reserves for replacement of personal property.
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
~ttorney as fully as the undersigned might or could do, and
hereby does ratify and confirm to all that said Attorney-in-Fact
shall be effective as of October 2002.
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 of attorney.
Nothing contained herein shall (i) limit in any manner any
indemnification provided by the Servicer to the Trustee under the
O0
Agreements, or (ii) be construed to grant the Servicer the power
to initiate or defend any suit, litigation or proceeding in the
name of Deutsche Bank National Trust Company except as
specifically provided for herein. If the Servicer ~eceives any
notice of suit, litigation or proceeding in the name of Deutsche
Bank National Trust Company or Bankers Trust Company of
California, N.A., .then the Servicer shall promptly forward a copy
of same to the Trustee.
This limited power of attorney is not intended to extend the
powers granted to the Servicer under the Agreements or to allow
the Servicer to take any action with respect to Mortgages, Deeds
of Trust or Mortgage Notes not authorized by the Agreements.
The Servicer hereby agrees to indemnify and hold the Trustee and
its directors, officers, employees and agents harmless from and
against any and all liabilities, obligations, losses, damages~
penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever incurred by reason
or result of or in connection with the exercise by the Servicer
of the powers granted to it hereunder. The foregoing indemnity
shall survive the termination of this Limited Power of Attorney
and the Agreements or the earlier resignation or removal of the
Trustee under the Agreements.
This Limited Power of Attorney is entered into and shall be
governed by the laws of the State of New York, without regard to
conflicts of law principles of such state.
Third parties without actual notice may rely upon the exercise of
the power granted under this Limited Power of AttorneY; and may
be satisfied that this Limited Power of Attorney shall continue
in full force and effect and has not been revoked unless an
instrument of revocation has been made in writing by the
undersigned.
IN WITNESS WHEREOF,
Trustee has caused
Deutsche Bank National Trust Company, as
4
0101
its corporate seal to be hereto affixed and these presents to be
signed and acknowledged in its name and behalf by a duly elected
and authorized signatory this 20th__ day of July, 2004.
Deutsche Bank National Trust Company,
a~ Trustee
Name: David Co
Title: Vice Presidenn
Acknowledge~
INDYMAC Bt,
Title: JO~-
SENIq
02867.001 ~92035
N LAWRENCE
VICE PRESIDENT
STATE OF CALIFORNIA
COUNTY OF Orange
' -0102
On
Public in and for said state, personally appeared David Co
Deutsche Bank National Trust Company, as Trustee for INDYMAC
BANK, F.S.B. SEE ATTACHED, personally known to me to be the
person whose name is subscribed to the within instrument and
acknowledged to me that he/she executed that same in his/her
authorized capacity, and that by his/her signature on the
instrument the entity upon behalf of which the person acted and
executed the instrument.
_20tn July, 2004, before me, the undersigned, a Notary
of
WITNESS my hand and official seal. (SEAL)
Notary Public, State of California
~~~ ORANGE COUNTY ~
02867.001 ~92035