Common use of Collection of Taxes, Assessments and Similar Items; Escrow Accounts; Maintenance of Records Clause in Contracts

Collection of Taxes, Assessments and Similar Items; Escrow Accounts; Maintenance of Records. (a) To the extent required by the related Mortgage Note and not violative of current law, the Master Servicer shall establish and maintain one or more accounts (each, an "Escrow Account") and deposit, on a daily basis, and retain therein all collections from the Mortgagors (or advances by the Master Servicer) constituting Escrow Payments separate and apart from any of its own funds and general assets for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Mortgagor to establish an Escrow Account in violation of applicable law or unless required by the applicable Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts; Maintenance of Records. (a) To the extent required by the related Mortgage Note and not violative of current law, the Master Servicer shall establish and maintain one or more accounts (each, an "“Escrow Account"”) and deposit, on a daily basis, and retain therein all collections from the Mortgagors (or advances by the Master Servicer) constituting Escrow Payments separate and apart from any of its own funds and general assets for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Mortgagor to establish an Escrow Account in violation of applicable law or unless required by the applicable Mortgage Loan.