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AMENDMENT NO. 3 TO PURCHASE,
WARRANTIES
AND SERVICING
AGREEMENT
THIS AMENDMENT
NO. 3, effective as of August 8, 2005, amends the Purchase,
Warranties and Servicing Agreement among EMC Mortgage Corporation
(the “Purchaser”), First Tennessee Mortgage Services,
Inc., as servicer (the “Servicer”) and First Horizon
Home Loan Corporation (the “Seller”, and together with
the Servicer, the “Company”), previously entered into
as of September 1, 2003 (the “Agreement”), as
previously amended.
RECITALS
WHEREAS, the
Seller sells to the Purchaser, and the Purchaser purchases from the
Seller, from time to time, pursuant to the Agreement, certain
conventional residential Mortgage Loans on a servicing retained
basis serviced by the Servicer, including second lien loans;
and
WHEREAS, in
connection with future sales of Mortgage Loans to the Purchaser,
the Company and the Purchaser wish to amend the Agreement as set
forth below.
NOW, THEREFORE,
in consideration of the premises and the mutual covenants
hereinafter set forth and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the
Purchaser and the Company agree to amend the Agreement as
follows:
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1.
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Section 2.09
shall be deleted in its entirety and replaced with the
following:
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Section 2.09
Near-term Principal Prepayments in Full; Near
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