WRAP CHECK LISTS. You will need to use at least four of these check lists on each wrap transaction:

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1 WRAP CHECK LISTS The following check-lists have been developed to assist you in gathering and analyzing the information needed to determine if a wrap will work and if the transaction can be closed as instructed. They will also help assure that you have all the information and documents needed to close. You will need to use at least four of these check lists on each wrap transaction: 1. Complete Wrap Check List #1 to distinguish the terms of the wrap and each underlying loan. 2. Complete Wrap Check List #2 to determine if the wrap will work or not. 3. Complete Wrap Check List #3 to determine which wrap addendum(s) is/are needed. In the case of a Mirror Wrap, you will need (1) the applicable Wrap Addendum from 1-6 and (2) Wrap Addendum #7. 4. Complete Wrap Check List #4 to determine the forms and documents when the wrap is to be closed with a Deed, Note and Deed of Trust/Mortgage. 5. Complete Wrap Check List #5 to determine the forms and documents when the wrap is to be closed with an Agreement for Sale.

2 WRAP CHECK LIST #1 Lender or Servicer Loan Number Type of Loan: WRAP To be set up with ASA Seller Carry-Back WRAP AND UNDERLYING LOAN COMPARISON EXISTING 1 ST LIEN [ ] Private [ ] Conventional [ ] FHA [ ] VA [ ] SBA [ ] Credit Line EXISTING 2 ND LIEN [ ] Private [ ] Conventional [ ] FHA [ ] VA [ ] SBA [ ] Credit Line Principal Balance $ $ $ $ EXISTING 3 RD LIEN [ ] Private [ ] Conventional [ ] FHA [ ] VA [ ] SBA [ ] Credit Line Interest rate % % % % Interest paid to (date last payment made) Date next payment due Payment Frequency Payment Type: Total Payment Amount $ $ $ $ P&I prtn. of payment $ $ $ $ Impound prtn. of payment [ ] taxes [ ] insurance [ ] assessment Other amt. incl. in pmt. For [ ] $ $ $ $ $ $ $ $ Term left on the loan [ ] years [ ] mos. [ ] years [ ] mos. [ ] years [ ] mos. [ ] years [ ] mos. Balloon Payment? [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No Date Due Late Charge [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No Amount $[ ] or $[ ] or $[ ] or $[ ] or [ ]% of payment [ ]% of payment [ ]% of payment [ ]% of payment Due [ ] after [ ] when [ ] after [ ] when [ ] after [ ] when [ ] after [ ] when [ ] days late [ ] days late [ ] days late [ ] days late Prepayment Penalty [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No Amount Due Due on Sale [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No [ ] Yes [ ] No

3 WRAP CHECK LIST #2 WILL THE WRAP WORK? YES NO QUESTION THIS Are any of the underlying loan(s) an FHA? If so, STOP. An FHA loan cannot be wrapped in any way. Are any of the underlying loan(s) a VA? If so, STOP. A VA loan can only be wrapped with an Agreement for Sale Are any of the underlying loan(s) an SBA? If so, STOP. An SBA loan cannot be wrapped in any way. Are any of the underlying loan(s) an equity line of credit? If so, STOP. An equity line of credit cannot be wrapped in any way. Do any of the underlying loans have a principal balance that is greater than the wrap lien? Does the total sum of all underlying loans exceed the principal balance on the wrap? Will the wrap pay-off sooner or become due prior to any of the underlying loans? Are the periodic payments due on the underlying loan greater than on the wrap? Is the total sum of all periodic payments due on the underlying loans greater than on the wrap? Is/are any of the payment(s) on the on the underlying loan(s) due prior to the payment on the wrap? Is there an impound account with any of the underlying loan(s)? If so, how will it be handled between buyer and seller? Are there balloon payments on any underlying lien? If so, the wrap must contain a matching maturity date or principal reduction(s) equal to those due on the underlying loan(s). Do any of the underlying loan(s) contain late charges? If so, the wrap must contain provisions for payment of late charges incurred on the underlying loan(s). Do any of the underlying loan(s) contain a prepayment penalty? If so, the wrap must contain provisions as to who will be responsible for paying the penalty. Is there a Due-on-Sale clause on the underlying lien? Whether there is or not, have the Due on Sale Disclosure signed by buyer and seller. Are any of the underlying notes an adjustable rate note? If the property subject to the wrap is a portion of a larger parcel, do the underlying loans contain release provisions? If the property subject to the wrap is a larger parcel which the buyer will split or subdivide, are there partial release provisions in the wrap? If you answer YES to any of these questions, you need to ask more questions of the principals to be certain you have completely covered all terms and conditions of the underlying loans and how the buyer and seller want to address those terms and conditions in the wrap transaction. If you answer YES to any of these questions, you need to discuss this transaction with your Escrow Administrator to determine if it can be closed as instructed or closed at all.

4 WRAP CHECKLIST #3 WRAP ADDENDUMS WRAP # DESCRIPTION 1 Wrap Form 1 Without Impounds Pay Payee Only 2 Wrap Form 2 With Impounds at Underlien Pay Payee & Underlien 3 Wrap Form 3 With Impounds at Underlien Pay Payee Only 4 Wrap Form 4 Without Impounds Pay Payee & Underlien 5 Wrap Form 5 Without Account Servicing With Impounds at Underlien 6 Wrap Form 6 Without Account Servicing Without Impounds 7 Wrap Form 7 Mirror Wrap When applicable, this Addendum should be used in addition to the applicable wrap addendum form 1 through 6 above.

5 WRAP CHECK LIST #4 CLOSING DOCUMENTS FOR A NOTE & DEED OF TRUST/MORTGAGE FORM OR DOCUMENT INSTRUCTIONS 1 Due on Sale Disclosure Use in all Wraps, even if underlying lien(s) do not contain a known due on sale provision. Copy ASA 2 Seller Provided Figure Statement Use in all Wraps when the parties instruct you not to get info. directly from the lender(s) and even if the seller has provided loan statements, note, etc. Copy ASA. 3 Copy of underlying Note(s) & Lien Instruments. Have these Accepted & Approved by all parties. Copy ASA. 4 Amortization Schedule(s) for underlying loan(s) Have these Accepted & Approved by all parties. Copy ASA. 5 Amortization Schedule for Wrap Have this Accepted & Approved by all parties. Copy ASA. 6 Impound Account Assignment Loan Not Transferred Use in all Wraps that encompass an impounded loan. Do not send it to the lender. Original to ASA. Copies to buyer & seller. 7 Buyer & Seller Closing Statements DO NOT Use a HUD-1 Settlement Statement. Copy ASA. 8 Escrow Closing Instructions Include appropriate wrap phrases and other phrases that may be applicable to this particular transaction. 9 Supplemental Escrow Instructions Standard Company Form S Compliance As applicable to the transaction. 11 FIRPTA Compliance As applicable to the transaction. 12 Deed Original to be sent to Buyer after recording. 13 Affidavit of Value Original goes with Deed for filing with County Assessor 14 Promissory Note Original to ASA. 15 Deed of Trust/Mortgage Copy ASA. Original to be sent to ASA after recording. 16 Wrap Addendum # Print and have signed in duplicate. Attach one to Note and one to Deed of Trust./Mortgage 17 Wrap Addendum # 7 Mirror Wrap Use only on mirror wrap in addition to other appropriate wrap addendum shown above. 18 Use as needed for special terms between parties. Print and Terms Addendum to Note & Deed of have signed in duplicate. Attach one to note and one to Deed Trust/Mortgage of Trust/Mortgage. 19 Account Servicing Agreement Original to ASA Direction for Deed of Release & Full Reconveyance Direction(s) for Deed of Partial Release & Partial Reconveyance DO NOT record. Original to ASA to be held until paid in full. Use when wrap contains partial release provisions. DO NOT record. Original(s) to ASA to be held until paid in full. 22 W9 for Payee(s) Get from Original to ASA. 25 W9 for Payor(s) Get from Original to ASA. 26 Direct ACH Payment/Deposit Authorization This service is optional and at the request of the parties Have documents checked by Escrow Administrator or other approved Wrap Closer Have documents checked by Account Servicing Department Manager Send copies of closing documents to buyer, seller and any Realtors prior to closing Any other misc. forms and documents applicable to this particular transaction This will help insure that the wrap will work and it can be closed as instructed. This will give them an opportunity to study the documents and get legal and/or financial advice prior to closing and may help avoid dilemmas and delays at the closing table.

6 WRAP CHECK LIST #5 CLOSING DOCUMENTS FOR AN AGREEMENT FOR SALE FORM OR DOCUMENT INSTRUCTIONS 1 Due on Sale Disclosure Use in all Wraps, even if underlying lien(s) do not contain a known due on sale provision. Copy ASA. 2 Seller Provided Figure Statement Use in all Wraps when the parties instruct you not to get info. directly from the lender(s) and even if the seller has provided loan statements, note, etc. Copy ASA. 3 Copy of underlying Note(s) & Lien Instruments. Have these Accepted & Approved by all parties. Copy ASA. 4 Amortization Schedule(s) for underlying loan(s) Have these Accepted & Approved by all parties. Copy ASA. 5 Amortization Schedule for Wrap Have this Accepted & Approved by all parties. Copy ASA. 6 Impound Account Assignment Loan Not Transferred Use in all Wraps that encompass an impounded loan. Do not send it to the lender. Original to ASA. Copies to buyer & seller. 7 Buyer & Seller Closing Statements DO NOT use a HUD1 Settlement Statement. Copy ASA. 8 Escrow Closing Instructions Standard Company form. 9 Supplemental Escrow Instructions Include appropriate wrap phrases and other phrases that may be applicable to this particular transaction S Compliance As applicable to the transaction. 11 FIRPTA Compliance As applicable to the transaction. 12 Agreement for Sale Original to be sent to ASA after recording. 13 Consummating Deed DO NOT record. Original to ASA to be held until paid in full. 14 Consummating Deed(s) Partial 15 Wrap Addendum # Attach one to Agreement. Use when wrap contains partial release provisions. DO NOT record. Original(s) to ASA to be held until paid in full. 16 Wrap Addendum # 7 Mirror Wrap Use only on mirror wrap in addition to other appropriate wrap addendum shown above. 17 Terms Addendum to Agreement for Sale Use as needed for special terms between parties. Attach to Agreement. 18 Account Servicing Agreement Original to ASA. 19 W9 for Payee(s) Get from Original to ASA. 20 W9 for Payor(s) Get from Original to ASA. 21 Direct ACH Payment/Deposit Authorization This service is optional and at the request of the parties Have documents checked by Escrow Administrator or other approved Wrap Closer Have documents checked by Account Servicing Department Manager Send copies of closing documents to buyer, seller and any Realtors prior to closing Any other misc. forms and documents applicable to this particular transaction. This will help insure that the wrap will work and it can be closed as instructed This will give them an opportunity to study the documents and get legal and/or financial advice prior to closing and may help avoid dilemmas and delays at the closing table.