703.02A

Failure of Borrower to Perform

 The Loan DocumentsLoan DocumentsAll executed Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. will provide acts of the BorrowerBorrowerPerson who is the obligor per the Note. that are required to be performed, the failure of which may be designated as an event of default.  There may be grace periods for curing such a default.  The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must provide written notice of the default to Fannie Mae and to the BorrowerBorrowerPerson who is the obligor per the Note. as required in the Loan DocumentsLoan DocumentsAll executed Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .  The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must diligently pursue the Borrower’sBorrower’sPerson who is the obligor per the Note. cure thereof within the time permitted.  If the BorrowerBorrowerPerson who is the obligor per the Note. fails to cure the default within the time provided in the Loan DocumentsLoan DocumentsAll executed Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. to effect such a cure, a Performance DefaultPerformance DefaultFailure of a Borrower to perform any promise or covenant within any applicable grace periods under the related Mortgage Loan other than a failure that constitutes a Payment Default. has occurred.  Depending on the severity of the Performance DefaultPerformance DefaultFailure of a Borrower to perform any promise or covenant within any applicable grace periods under the related Mortgage Loan other than a failure that constitutes a Payment Default. , Fannie Mae may permit the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. to monitor the default per Part V, Chapter 7: Non-Performing Mortgage Loans, Section 703.02C: Lender Tenders for Minor or Immaterial Defaults.