Mortgage Direction Form

MORTGAGE DIRECTION FORM

This Mortgage Direction Form (the "Direction") is executed by the undersigned parties to provide instructions relating to payoff, disbursement and reconveyance pertaining to the mortgage described below.

WHEREAS

WHEREAS, Mortgagor is obligated to the Mortgagee under a certain mortgage or deed of trust securing repayment of a loan; and

WHEREAS, Mortgagor now directs the Mortgagee and Escrow Agent to accept payment in the manner and on the terms set forth in this Direction and to take all actions necessary to satisfy and, where applicable, release or reconvey the subject mortgage upon receipt of the specified payoff funds; and

WHEREAS, Mortgagee and Escrow Agent (if any) require written direction and authorization to disburse funds and to record any release, reconveyance or satisfaction instrument;

PARTIES AND PROPERTY

SCOPE OF WORK

Mortgagor directs Mortgagee, Escrow Agent, and any settlement agent to take the following actions with respect to the mortgage and related transaction described herein:

PAYMENT TERMS

Payoff Amount: The Mortgagee is authorized to accept payment in immediately available funds in the aggregate sum of (the "Payoff Amount"), subject to verification and final accounting. The Payoff Amount shall include principal, accrued interest, fees and costs as of the date of disbursement.

TERM AND TERMINATION

Effective Date: This Direction is effective as of .

Termination Date (if applicable): This Direction shall terminate on , unless earlier terminated in accordance with the notice provisions below.

INSTRUCTIONS TO ESCROW / SETTLEMENT AGENT

Escrow Agent (if any):

Recording Instructions: Upon receipt of the Payoff Amount and satisfaction of any required conditions, the party responsible shall cause any release, reconveyance or satisfaction instrument to be promptly recorded in the official recorder's office for the jurisdiction where the property is located.

REPRESENTATIONS, WARRANTIES AND AUTHORIZATION

Mortgagor represents and warrants that Mortgagor has full authority to direct payoff and disbursement as provided herein and that no prior written direction conflicts with this Direction. Mortgagor authorizes Mortgagee and Escrow Agent to accept funds and to execute and record any documents necessary to evidence satisfaction of the mortgage upon receipt of the Payoff Amount.

Mortgagee represents that, upon receipt and clearance of the Payoff Amount and performance of any required conditions, Mortgagee will execute and deliver such releases or reconveyances necessary to remove the mortgage lien encumbering the described property.

CONFIDENTIALITY

All non-public information exchanged among the parties in connection with this Direction shall be treated as confidential and shall not be disclosed to third parties except as required by law, to effectuate the transactions contemplated by this Direction, or pursuant to a court order. Parties shall take commercially reasonable measures to safeguard confidential information.

INDEMNITY

Mortgagor shall indemnify, defend and hold harmless Mortgagee and Escrow Agent from and against any and all claims, liabilities, losses, costs and expenses (including reasonable attorneys' fees) arising out of any breach of the representations or warranties in this Direction or any direction provided by Mortgagor inconsistent with this Direction, except to the extent caused by Mortgagee's or Escrow Agent's gross negligence or willful misconduct.

GOVERNING LAW; ENTIRE AGREEMENT

Governing Law: This Direction shall be governed by and construed in accordance with the laws of the state where the property is located, without regard to conflict of law principles.

Entire Agreement: This Direction, including any attachments or addenda executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous written or oral agreements and understandings.

NOTICES

ADDITIONAL PROVISIONS

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