USA Loan Participation Sale and Trust Agreement

Under this Agreement, a lead lender (Seller) participates in one or more loans by transferring an undivided participation ownership interest in the loan to another lender (Buyer).

• The Buyer receives a percentage yield on its interest, plus a pro rata participation in any interest collected.
• The Seller is entitled to the remainder of the interest plus any default penalties, late charges, etc.
• The Seller will act as trustee with fiduciary duties to hold the participation ownership and legal title to the loans and receipts, and to make the required remittances.
• The Seller, as trustee, will retain all loan documents, mortgage notes, and related items.
• The Seller will continue to service the loans in the same manner as it services loans for its own account.

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