Common use of Collection of Taxes, Assessments and Similar Items Clause in Contracts

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxx, then, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx on or before the applicable penalty or termination date unless, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Advance was made or if such Property Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Master Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Master Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Master Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Master Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxx, then, the Master Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx on or before the applicable penalty or termination date unlessdate; provided, that, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Master Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ five Business Days after the Master Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement of Property Servicing Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Servicing Advance was made or if such Property Servicing Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Master Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Master Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Master Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Master Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Master Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxxbill, then, the Servicer Mastex Xervicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx bill on or before the applicable axxxxcable penalty or termination date unlessdate; provided, that, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Master Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ five Business Days after the Master Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Advance was made or if such Property Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Master Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

Collection of Taxes, Assessments and Similar Items. The Master Servicer shall establish and maintain, or cause to be established and maintained, one or more Eligible Accounts (a) With respect to each Mortgage Loan (other than REO Mortgage Loanseach, an "Escrow Payment Account"), the into which all Escrow Payments shall be deposited and retained. The Master Servicer shall maintain accurate records deposit in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with respect to each related Mortgaged Property reflecting its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the status Master Servicer's receipt thereof, all Escrow Payments collected on account of taxesthe Mortgage Loans and shall thereafter deposit such Escrow Payments in such Escrow Payment Account, assessments and other similar items that are or may become a lien on in no event more than two Business Days after the receipt of such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, all Escrow Payments collected on account of the Mortgage Loans for the purpose of effecting the timely payment of any such items as required in respect thereofunder the terms of this Agreement. From time Withdrawals of amounts from any such Escrow Payment Account may be made only to time, the Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination datetaxes, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination dateassessments, the Servicer shall (in accordance with Section 3.8 with respect to the payment of hazard insurance premiums) advance , and comparable items in a manner and at a time that assures that the amount necessary to effect payment lien priority of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxx, then, the Servicer shall jeopardized (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx on or before the applicable penalty or termination date unlessor, with respect to the payment of taxes taxes, in a manner and assessmentsat a time that avoids the loss of the Mortgaged Property due to a tax sale or the foreclosure as a result of a tax lien); (ii) reimburse the Master Servicer (or a Servicer to the extent provided in the related Servicing Agreement) out of related collections for any Servicing Advances; (iii) refund to Mortgagors any sums as may be determined to be overages; (iv) pay interest, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty dateif required and as described below, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, Mortgagors; or (yv) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon clear and terminate each Escrow Payment Account at the Advance Rate, from amounts received on or termination of the Master Servicer's obligations and responsibilities in respect of the Mortgage Loan respecting Loans under this Agreement in accordance with Article X. The Master Servicer will be responsible for the administration of each Escrow Payment Account and will be obligated to make Servicing Advances to such accounts when and as necessary to avoid the lapse of insurance coverage on the Mortgaged Property, or which the Master Servicer knows, or in the exercise of the required standard of care of the Master Servicer hereunder should know, is necessary to avoid the loss of the Mortgaged Property due to a tax sale or the foreclosure as a result of a tax lien. If any such payment has not been made and the Master Servicer receives notice of a tax lien with respect to the Mortgage being imposed, the Master Servicer will, within ten business days of such notice, advance or cause to be advanced funds necessary to discharge such lien on the Mortgaged Property Advance was made unless the Master Servicer determines that such advance would not be recoverable, if made. As part of its servicing duties, the Master Servicer or if such Property Advance has become a Nonrecoverable AdvanceServicers shall pay to the Mortgagors interest on funds in any Escrow Payment Account, to the extent permitted required by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shalllaw and, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loansextent that interest earned on funds in such accounts is insufficient, notwithstanding that the terms of to pay such Mortgage Loans so permitinterest from its or their own funds, without any reimbursement therefor.

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxxbill, then, the xxx Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx bill on or before bxxxxe the applicable penalty or termination date unlessdate; provided, that, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event assessments the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ five Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Advance was made or if such Property Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxxbill, then, the Servicer shall (in accordance with Section 3.8 with wxxx respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx bill on or before the applicable penalty or termination date unlessdate; provixxx, that, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ five Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Advance was made or if such Property Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Master Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Master Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Master Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Master Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxxbill, then, the Masxxx Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx bill on or before the xxx applicable penalty or termination date unlessdate; provided, that, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Master Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ five Business Days after the Master Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement of Property Servicing Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Servicing Advance was made or if such Property Servicing Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Master Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

Collection of Taxes, Assessments and Similar Items. Servicing Accounts. ------------------ The Master Servicer shall establish and maintain, or shall cause to be established and maintained, one or more accounts (a) With respect to each Mortgage Loan (other than REO Mortgage Loansthe "Servicing Accounts"), into which all collections from the Servicer shall maintain accurate records with respect to each Mortgagors (or related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Servicer shall (iadvances from Sub- Servicers) obtain all bills for the payment of taxes, assessments, hazard insurance premiums, and comparable items for the account of the Mortgagors ("Escrow Payments") shall be deposited and retained. Servicing Accounts shall be Eligible Accounts. The Master Servicer shall deposit in the Servicing Accounts on a daily basis, and retain therein, all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting the timely payment of any such items as required under the terms of this Agreement. Withdrawals of amounts from a Servicing Account may be made only to (including renewal i) effect timely payment of taxes, assessments, hazard insurance premiums), and comparable items; (ii) effect reimburse the Master Servicer (or a Sub-Servicer to the extent provided in the related Sub-Servicing Agreement) out of related collections for any advances made pursuant to Section 3.01 (with respect to taxes and assessments) and Section 3.13 (with respect to hazard insurance); (iii) refund to Mortgagors any sums as may be determined to be overages; (iv) pay interest, if required and as described below, to Mortgagors on balances in the Servicing Account; or (v) clear and terminate the Servicing Account at the termination of the Master Servicer's obligations and responsibilities in respect of the Mortgage Loans under this Agreement in accordance with Article X. As part of its servicing duties, the Master Servicer or Sub-Servicers shall pay to the Mortgagors interest on funds in Servicing Accounts, to the extent required by law and, to the extent that interest earned on funds in the Servicing Accounts is insufficient, to pay such interest from its or their own funds, without any reimbursement therefor. The Master Servicer assumes full responsibility for the timely payment of all such bills with respect to each and shall effect timely payments of all such Mortgaged Property prior to bills irrespective of the applicable penalty or termination date, Mortgagor's faithful performance in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance same or the amount necessary making of the Escrow Payments and shall make advances from its own funds to effect payment of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxx, then, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx on or before the applicable penalty or termination date unless, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Advance was made or if such Property Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permitpayments.

Collection of Taxes, Assessments and Similar Items. SERVICING ------------------------------------------------------------- ACCOUNTS. --------- The Master Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (a) With respect to each Mortgage Loan (other than REO Mortgage Loansthe "Servicing Accounts"), into which all collections from the Servicer shall maintain accurate records with respect to each Mortgagors (or related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Servicer shall (iadvances from Sub-Servicers) obtain all bills for the payment of taxes, assessments, hazard insurance premiums and comparable items for the account of the Mortgagors ("Escrow Payments") shall be deposited and retained. Servicing Accounts shall be Eligible Accounts. The Master Servicer shall deposit in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Master Servicer's receipt thereof, all Escrow Payments collected on account of the Mortgage Loans and shall thereafter deposit such Escrow Payments in the Servicing Accounts, in no event more than two Business Days after the receipt of such Escrow Payments, all Escrow Payments collected on account of the Mortgage Loans for the purpose of effecting the timely payment of any such items as required under the terms of this Servicing Agreement. Withdrawals of amounts from a Servicing Account may be made only to (including renewal premiums), and (iii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination datetaxes, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination dateassessments, the Servicer shall (in accordance with Section 3.8 with respect to the payment of hazard insurance premiums) advance , and comparable items in a manner and at a time that assures that the amount necessary to effect payment lien priority of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxx, then, the Servicer shall jeopardized (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx on or before the applicable penalty or termination date unlessor, with respect to the payment of taxes, in a manner and at a time that avoids the loss of the Mortgaged Property due to a tax sale or the foreclosure as a result of a tax lien); (ii) reimburse the Master Servicer (or a Sub-Servicer to the extent provided in the related Sub-Servicing Agreement) out of related collections for any advances made pursuant to Section 3.01 (with respect to taxes and assessments) and Section 3.14 (with respect to hazard insurance); (iii) refund to Mortgagors any sums as may be determined to be overages; (iv) pay interest, (x) if required and as described below, to Mortgagors on balances in the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, Servicing Account; or (yv) clear and terminate the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon Servicing Account at the Advance Rate, from amounts received on or termination of the Master Servicer's obligations and responsibilities in respect of the Mortgage Loan respecting which such Property Advance was made Loans under this Servicing Agreement in accordance with Section 7.08. As part of its servicing duties, the Master Servicer or if such Property Advance has become a Nonrecoverable AdvanceSub-Servicers shall pay to the Mortgagors interest on funds in the Servicing Accounts, to the extent permitted required by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shalllaw and, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under extent that interest earned on funds in the related Mortgage LoansServicing Accounts is insufficient, notwithstanding that the terms of to pay such Mortgage Loans so permitinterest from its or their own funds, without any reimbursement therefor.

Collection of Taxes, Assessments and Similar Items. The Master Servicer shall establish and maintain, or cause to be established and maintained, one or more Eligible Accounts (a) With respect to each Mortgage Loan (other than REO Mortgage Loanseach, an "ESCROW PAYMENT ACCOUNT"), the into which all Escrow Payments shall be deposited and retained. The Master Servicer shall maintain accurate records deposit in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with respect to each related Mortgaged Property reflecting its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the status Master Servicer's receipt thereof, all Escrow Payments collected on account of taxesthe Mortgage Loans and shall thereafter deposit such Escrow Payments in such Escrow Payment Account, assessments and other similar items that are or may become a lien on in no event more than two Business Days after the receipt of such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, all Escrow Payments collected on account of the Mortgage Loans for the purpose of effecting the timely payment of any such items as required in respect thereofunder the terms of this Agreement. From time Withdrawals of amounts from any such Escrow Payment Account may be made only to time, the Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination datetaxes, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination dateassessments, the Servicer shall (in accordance with Section 3.8 with respect to the payment of hazard insurance premiums) advance , and comparable items in a manner and at a time that assures that the amount necessary to effect payment lien priority of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxx, then, the Servicer shall jeopardized (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx on or before the applicable penalty or termination date unlessor, with respect to the payment of taxes taxes, in a manner and assessmentsat a time that avoids the loss of the Mortgaged Property due to a tax sale or the foreclosure as a result of a tax lien); (ii) reimburse the Master Servicer (or a Servicer to the extent provided in the related Servicing Agreement) out of related collections for any Servicing Advances; (iii) refund to Mortgagors any sums as may be determined to be overages; (iv) pay interest, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty dateif required and as described below, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, Mortgagors; or (yv) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon clear and terminate each Escrow Payment Account at the Advance Rate, from amounts received on or termination of the Master Servicer's obligations and responsibilities in respect of the Mortgage Loan respecting Loans under this Agreement in accordance with Article X. The Master Servicer will be responsible for the administration of each Escrow Payment Account and will be obligated to make Servicing Advances to such accounts when and as necessary to avoid the lapse of insurance coverage on the Mortgaged Property, or which the Master Servicer knows, or in the exercise of the required standard of care of the Master Servicer hereunder should know, is necessary to avoid the loss of the Mortgaged Property due to a tax sale or the foreclosure as a result of a tax lien. If any such payment has not been made and the Master Servicer receives notice of a tax lien with respect to the Mortgage being imposed, the Master Servicer will, within ten business days of such notice, advance or cause to be advanced funds necessary to discharge such lien on the Mortgaged Property Advance was made unless the Master Servicer determines that such advance would not be recoverable, if made. As part of its servicing duties, the Master Servicer or if such Property Advance has become a Nonrecoverable AdvanceServicers shall pay to the Mortgagors interest on funds in any Escrow Payment Account, to the extent permitted required by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shalllaw and, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loansextent that interest earned on funds in such accounts is insufficient, notwithstanding that the terms of to pay such Mortgage Loans so permitinterest from its or their own funds, without any reimbursement therefor.

Collection of Taxes, Assessments and Similar Items. Escrow --------------------------------------------------------- Accounts. -------- In addition to the Certificate Account, the Master Servicer shall, and, pursuant to the Warranty and Servicing Agreements, the Servicers will be required to, establish and maintain one or more custodial accounts (aeach, an "Escrow Account") With and deposit and retain therein all collections from the Obligors (or advances by Servicers or the Master Servicer) for the payment of Taxes, assessments, hazard insurance premiums, Primary Credit Insurance Policy premiums, if applicable, or comparable items for the account of the Obligors. Escrow Accounts shall be Eligible Accounts. Withdrawals of amounts so collected from the Escrow Accounts may be made only to effect timely payment of Taxes, assessments, hazard insurance premiums, Primary Credit Insurance Policy, or comparable items, to reimburse the Master Servicer or Servicer out of related collections for any payments made pursuant to Section 3.01 hereof (with respect to each Mortgage Loan (other than REO Mortgage Loansthe Taxes and assessments), 3.13 hereof (with respect to the Primary Insurance Policy) and 3.14 hereof (with respect to hazard insurance), to refund to any Obligors any sums as may be determined to be overages, to pay interest, if required, to Obligors on balances in the Escrow Account or to clear and terminate the Escrow Account as the termination of this Agreement in accordance with Section 9.01 hereof. As part of its servicing duties, the Master Servicer shall maintain accurate records shall, and the Servicers will, pursuant to the Warranty and Servicing Agreements, be required to, pay to the Obligors interest on funds in the Escrow Account, to the extent required by law. The Master Servicer shall, with respect to each related Mortgaged Property reflecting the status of taxes, assessments Nonsubserviced Contract and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed Contract serviced under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxx, then, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx on or before the applicable penalty or termination date unless, with respect to the payment of taxes Warranty and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Advance was made or if such Property Advance has become a Nonrecoverable AdvanceServicing Agreement, to the extent permitted by Section 3.6 of this Agreement. No costs incurred the related Servicer does not do so, advance the payments referred to in the preceding paragraph that are not timely paid by the Obligors; provided, however, that the Master Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions shall be required to Certificateholders, be added so advance only to the amount owing under extent that such advances, in the related Mortgage Loansgood faith judgement of the Master Servicer, notwithstanding will be recoverable by the Master Servicer out of Insurance Proceeds, Liquidation Proceeds or otherwise; and provided, further, that such payments shall be advanced when the terms of Tax, premium or other cost for which such Mortgage Loans so permitpayment is intended is due.

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxxbill, then, the Servicer txx Xervicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx bill on or before befxxx the applicable penalty or termination date unlessdate; provided, that, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ five Business Days after the Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Servicer shall be entitled to reimbursement of Property Advances that it makes pursuant to the preceding sentence, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Advance was made or if such Property Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

Collection of Taxes, Assessments and Similar Items. (a) With respect to each Mortgage Loan (other than REO Mortgage Loans), the Master Servicer shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien on such related Mortgaged Property, the status of insurance premiums payable with respect thereto and the amounts of Escrow Payments, if any, required in respect thereof. From time to time, the Master Servicer shall (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect payment of all such bills with respect to each such Mortgaged Property prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of such Mortgage Loan. If a Borrower fails to make any such Escrow Payment on a timely basis or collections from such Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Master Servicer shall (in accordance with Section 3.8 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such item, unless the Master Servicer, in its good faith business judgment, determines that such Advance would be a Nonrecoverable Advance. With respect to any Mortgage Loan as to which the related Borrower is not required to make Escrow Payments, if such Borrower fails to effect payment of any such xxxxbill, then, the Master Servicer shall (in accordance with Section 3.8 0.0 with respect to the payment of insurance premiums) advance the amount necessary to effect payment of any such xxxx bill on or before the applicable penalty or termination date unlessdate; xxxxided, that, with respect to the payment of taxes and assessments, (x) the Servicer reasonably anticipates that such xxxx will be paid by the Borrower by the close of business on or before the penalty date, but in any event the Master Servicer shall make such advance (subject to clause (y) below) within __ days after such date or within ____ five Business Days after the Master Servicer has received confirmation that such item has not been paid, whichever is earlier, or (y) the Servicer determines, in its good faith business judgment, that such Property Advance would be a Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement of Property Servicing Advances that it makes pursuant to the preceding sentencetwo sentences, with interest thereon at the Advance Rate, from amounts received on or in respect of the Mortgage Loan respecting which such Property Servicing Advance was made or if such Property Servicing Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.6 of this Agreement. No costs incurred by the Master Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.