Common use of Establishment of Escrow Accounts; Deposits in Escrow Accounts Clause in Contracts

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts in the form of time deposit or demand accounts, which accounts shall be Eligible Accounts. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. Servicer shall deposit in the Escrow Account(s) within two (2) Business Days, and retain therein, (a) all Escrow Payments collected on account of the Mortgage Loans, and (b) all Other Insurance Proceeds that are to be applied to the restoration or repair of any Mortgaged Property. Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes in accordance with Section 5.7. Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except interest on escrowed funds required by law to be paid to the Mortgagor. Servicer shall pay Mortgagor interest on the escrowed funds at the rate required by law notwithstanding that the Escrow Account is non-interest bearing or the interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by law.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each First Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . The creation of any Escrow Account shall be Eligible Accountsevidenced by a letter agreement in the form set forth in Exhibit C hereto. Servicer shall provide the Seller with written evidence of the creation A copy of such letter agreement shall be furnished to the Owner upon request. The Escrow Account(s) upon the request of the SellerAccount shall be an Eligible Account. Any funds on deposit in any Escrow Account may only be invested in accordance with Section 4.16. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt and acceptance, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that and any applicable Condemnation Proceeds which are to be applied only to the restoration or repair of any Mortgaged PropertyProperty and not to ground rents, taxes, assessments, water rates, hazard insurance premiums, Primary Insurance Policy premiums, if applicable, and similar items. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.74.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagors and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor from its own funds interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay for such purposes, provided that the Mortgagor interest at the rate required by lawaccounts are Eligible Accounts.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer The Company shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts which accounts shall be Eligible Accounts, in the form of time deposit or demand accounts, which accounts . The creation of any Escrow Account shall be Eligible Accountsevidenced by (i) a certification in the form shown in Exhibit 9-5 hereto, in the case of an account established with the Company, or (ii) a letter agreement in the form shown in Exhibit 9-6 hereto, in the case of an account held by a depository other than the Company. Servicer shall provide the Seller with written evidence of the creation In either case, a copy of such Escrow Account(s) certification or letter agreement shall be furnished to the Purchaser upon the request of the Sellerrequest. Servicer The Company shall deposit in the Escrow Account(s) Account or Accounts within two (2) Business DaysDays from receipt thereof, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. Servicer The Company shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.74.08. Servicer The Company shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Servicer Mortgagor and, to the extent required by law, the Company shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . The creation of any Escrow Account shall be Eligible Accountsevidenced by Escrow Account Letter Agreement in the form of Exhibit 7. Servicer shall provide the The Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. Servicer shall deposit in the Escrow Account(s) within two (2) Business DaysAccount or Accounts on a daily basis, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. Servicer The Seller shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.78.08. Servicer The Seller shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Servicer Mortgagor and, to the extent required by law, the Seller shall pay Mortgagor interest on the escrowed funds at to the rate required by law notwithstanding Mortgagor notwith­standing that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer Countrywide Servicing shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts which accounts shall be Eligible Accounts, in the form of time deposit or demand accounts, which accounts shall be Eligible Accounts. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. Servicer Countrywide Servicing shall deposit in the Escrow Account(s) Account within two (2) Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. Servicer Countrywide Servicing shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.73.08. Servicer Countrywide Servicing shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Servicer Mortgagor and, to the extent required by law, Countrywide Servicing shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in accordance with the form of time deposit or demand accounts, which accounts shall be Eligible Accountsrelated Mortgage and applicable law. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts within two (2) Business DaysDays after receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Mortgage Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.74.06. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Borrower and, to the extent required by law, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Borrower notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . A copy of such letter agreement shall be furnished to the Trustee upon request. The Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.73.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . A copy of such letter agreement shall be furnished to the Trustee upon request. The Escrow Account shall be an Eligible AccountsAccount. The Servicer shall provide deposit or cause to be deposited on a daily basis and in no event more than one Business Day after receipt thereof in the Seller clearing account (which must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. Servicer its mortgage loan servicing activities, and shall thereafter deposit in the Escrow Account(s) within two (2) Account or Accounts, in no event more than one Business DaysDay after deposit of such funds in the clearing account, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.73.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . A copy of such letter agreement shall be furnished to the Trustee upon request. The Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts within two (2) three Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.73.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . A copy of such letter agreement shall be furnished to the Indenture Trustee upon request. The Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt, and retain therein, (a) all Escrow Payments collected on account of the Mortgage Loans, and (b) all Other Insurance Proceeds that are to be applied to for the restoration or repair purpose of effecting timely payment of any Mortgaged Propertysuch items as required under the terms of this Agreement. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.72.18. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Obligor and, to the extent required by the related Mortgage Loan, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Obligor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts in the form of time deposit or demand accounts, which accounts Accounts. Each Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.72.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts in the form Accounts. A copy of time deposit or demand accounts, which accounts such letter agreement shall be furnished to the Trustee and the Master Reporting Agent upon request. Each Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.72.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts in the form Accounts. A copy of time deposit or demand accounts, which accounts such letter agreement shall be furnished to the Trustee upon request. Each Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.72.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . A copy of such letter agreement shall be furnished to the Trustee upon request. The Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property, provided, however, the Servicer shall deposit such amounts within two Business Days after determining the proper application of funds that were improperly marked but would otherwise constitute funds pursuant to clauses (i) and (ii) of this sentence. For the avoidance of doubt, returned checks are not funds received by the Servicer pursuant to this Section 3.06. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.73.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . The creation of any Escrow Account shall be Eligible Accounts. Servicer shall provide evidenced by Escrow Account Letter Agreement in the Seller with written evidence form of the creation of such Escrow Account(s) upon the request of the Seller. Exhibit D. The Servicer shall deposit in the Escrow Account(s) within two (2) Business DaysAccount or Accounts on a daily basis, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.74.08. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by law, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Master Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts escrow accounts, in the form of time deposit or demand accountsaccounts (each an “Escrow Account” and collectively, which accounts shall be Eligible the “Escrow Accounts”) and in accordance with all applicable laws, rules and regulations. Servicer shall provide the Seller with written evidence A copy of the creation of letter agreement(s) governing such Escrow Account(s) between the Master Servicer and the depositary institution(s) with which such Escrow Account(s) are maintained shall be furnished to the Trustee upon the request of the Sellerrequest. Each Escrow Account shall be an Eligible Bank Account. The Master Servicer shall deposit in the Escrow Account(s) Account or Escrow Accounts on a daily basis, within two (2) Business DaysDays of receipt, and retain therein, (a) all Escrow Payments collected on account of the Mortgage LoansPurchased Accounts, and (b) all Other Insurance Proceeds that are to be applied to for the restoration or repair purpose of effecting timely payment of any Mortgaged Propertysuch items as required under the terms of this Agreement. The Master Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.72.17. To the extent permitted by all applicable laws, rules or regulations, the Master Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Obligor and, to the extent required by the related Mortgage, the Master Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Obligor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient for such purposes. The Master Servicer shall prepare and deliver to pay each Obligor all statements required to be delivered to the Mortgagor interest at Obligor under applicable laws, rules and regulations regarding the rate required by lawuse of Escrow Payments and any other statements so required. The Master Servicer shall use Escrow Payments only in accordance with applicable laws, rules and regulations.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer The Company shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and and, if requested by the Purchaser, shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accountsaccounts titled “[NAME OF COMPANY], which accounts as servicer, in trust for [NAME OF PURCHASER] and/or subsequent purchasers of Mortgage Loans, and various Mortgagors - Escrow.” The Escrow Account shall be Eligible Accountsestablished at a Qualified Depository. Servicer Upon request of the Purchaser and within ten (10) days thereof, the Company shall provide the Seller Purchaser with written evidence certification acceptable to the Purchaser of the creation existence of such Escrow Account(s) upon Account. Any funds deposited in the request of Escrow Account shall at all times be insured to the Sellerfullest extent allowed by Applicable Law. Servicer The Company shall deposit in the Escrow Account(s) within two (2) Business DaysAccount on a daily basis, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. Servicer The Company shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.74.07. Servicer The Company shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Servicer Mortgagor and, to the extent required by law, the Company shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient for such purposes. For avoidance of doubt, Escrow Payments that have been netted from the Purchase Price and held in the Company’s existing escrow accounts shall continue to pay be made available to the Mortgagor interest at Mortgagors by the rate Company (or its designee) through the Servicing Transfer Date and such Escrow Payments shall not be required by lawto be deposited in any Escrow Accounts.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . The creation of any Escrow Account shall be Eligible Accountsevidenced by Escrow Account Letter Agreement in the form of Exhibit 8. Servicer shall provide the The Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. Servicer shall deposit in the Escrow Account(s) within two (2) Business DaysAccount or Accounts on a daily basis, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. Servicer The Seller shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.711.07. Servicer The Seller shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Servicer Borrower and, to the extent required by law, the Seller shall pay Mortgagor interest on the escrowed funds at to the rate required by law Borrower notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . A copy of such letter agreement shall be furnished to the Trustee upon request. The Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) three Business DaysDays of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.73.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagor and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each First Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . The creation of any Escrow Account shall be Eligible Accountsevidenced by a letter agreement in the form set forth in Exhibit C hereto. Servicer shall provide the Seller with written evidence of the creation A copy of such letter agreement shall be furnished to the Owner upon request. The Escrow Account(s) upon the request of the SellerAccount shall be an Eligible Account. Any funds on deposit in any Escrow Account may only be invested in accordance with Section 5.16. The Servicer shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two one (21) Business DaysDay of receipt, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that and any applicable Condemnation Proceeds which are to be applied only to the restoration or repair of any Mortgaged PropertyProperty and not to ground rents, taxes, assessments, water rates, hazard insurance premiums, Primary Insurance Policy premiums, if applicable, and similar items. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.75.07. The Servicer shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Mortgagors and, to the extent required by the related Mortgage Loan or Applicable Regulations, the Servicer shall pay Mortgagor from its own funds interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay for such purposes, provided that the Mortgagor interest accounts are maintained at a depository institution selected by the rate required by lawServicer.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . The Escrow Account shall be Eligible Accounts. Servicer established with a Qualified Depository as a Special Deposit Account, in a manner which shall provide the Seller with written evidence of the maximum available insurance thereunder. The creation of such any Escrow Account(s) upon Account shall be evidenced by Escrow Account Letter Agreement in the request form of the SellerExhibit 7. Servicer The Seller shall deposit in the Escrow Account(s) within two (2) Business DaysAccount or Accounts on a daily basis, and retain therein, (ai) all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement, and (bii) all Other Insurance Proceeds that which are to be applied to the restoration or repair of any Mortgaged Property. Servicer The Seller shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be as set forth or in accordance with Section 5.711.06. Servicer The Seller shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Servicer Mortgagor and, to the extent required by law, the Seller shall pay Mortgagor interest on the escrowed funds at to the rate required by law Mortgagor notwithstanding that the Escrow Account is non-non interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.

Establishment of Escrow Accounts; Deposits in Escrow Accounts. Servicer The Servicers shall segregate and hold all funds collected and received pursuant to each Mortgage Loan Asset which constitute Escrow Payments separate and apart from any of its their own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts Accounts, in the form of time deposit or demand accounts, which accounts . A copy of such letter agreement shall be furnished to the Trustee upon request. The Escrow Account shall be an Eligible AccountsAccount. Servicer shall provide the Seller with written evidence of the creation of such Escrow Account(s) upon the request of the Seller. Servicer The Servicers shall deposit in the Escrow Account(s) Account or Accounts on a daily basis within two (2) Business DaysDays of receipt, and retain therein, (a) therein all Escrow Payments collected on account of the Mortgage LoansAssets, and (b) all Other Insurance Proceeds that are to be applied to for the restoration or repair purpose of effecting timely payment of any Mortgaged Propertysuch items as required under the terms of this Agreement. Servicer The Servicers shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as shall be set forth in, or in accordance with with, Section 5.73.07. Servicer The Servicers shall be entitled to retain any interest paid by the depository institution on funds deposited in the Escrow Account except by the depository institution other than interest on escrowed funds required by law to be paid to the Mortgagor. Servicer Obligor and, to the extent required by the related Mortgage Asset or Applicable Regulations, the Servicers shall pay Mortgagor interest on the escrowed funds at to the rate required by law Obligor notwithstanding that the Escrow Account is non-interest bearing or the that interest paid by the depository institution thereon is insufficient to pay the Mortgagor interest at the rate required by lawfor such purposes.