Common use of Collateral Fund Clause in Contracts

Collateral Fund. Upon receipt from the Loss Mitigation Advisor of the initial amount required to be deposited in the Collateral Fund pursuant to Article II, the Master Servicer shall establish and maintain with the Master Servicer as a segregated account on its books and records an Eligible Account (the "Collateral Fund"), entitled "Bank of America, FSB, as Master Servicer, for the benefit of registered holders of BA Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series 1998-6." Amounts held in the Collateral Fund shall continue to be the property of the Loss Mitigation Advisor, subject to the first priority security interest granted hereunder for the benefit of the Certificateholders, until withdrawn from the Collateral Fund pursuant to Section 2.02 or 2.03 hereof. The Collateral Fund shall be an "outside reserve fund" within the meaning of the REMIC Provisions, beneficially owned by the Loss Mitigation Advisor for federal income tax purposes. All income, gain, deduction or loss with respect to the Collateral Fund shall be that of the Loss Mitigation Advisor. All distributions from the Trust Fund to the Collateral Fund shall be treated as distributed to the Loss Mitigation Advisor as the beneficial owner thereof. Upon the termination of this Agreement and the liquidation of all Mortgage Loans as to which the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose pursuant to Section 2.04 hereof, the Master Servicer shall distribute to the Loss Mitigation Advisor all amounts remaining in the Collateral Fund (after adjustment for all deposits and permitted withdrawals pursuant to this Agreement) together with any investment earnings thereon. In the event the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose, prior to any distribution to the Loss Mitigation Advisor of all amounts remaining in the Collateral Fund, funds in the Collateral Fund shall be applied consistent with the terms of this Agreement.

Collateral Fund. Upon receipt from the Loss Mitigation Advisor of the initial amount required to be deposited in the Collateral Fund pursuant to Article II, the Master Servicer Bank shall establish and maintain with the Master Servicer Bank as a segregated account on its books and records an Eligible Account (the "Collateral Fund"), entitled "Bank of AmericaAmerica [National Trust and Savings Association] [, FSBFederal Savings Bank], as Master Servicer, for the benefit of registered holders of BA Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series 19981997-62." Amounts held in the Collateral Fund shall continue to be the property of the Loss Mitigation Advisor, subject to the first priority security interest granted hereunder for the benefit of the Certificateholders, until withdrawn from the Collateral Fund pursuant to Section 2.02 or 2.03 hereof. The Collateral Fund shall be an "outside reserve fund" within the meaning of the REMIC Provisions, beneficially owned by the Loss Mitigation Advisor for federal income tax purposes. All income, gain, deduction or loss with respect to the Collateral Fund shall be that of the Loss Mitigation Advisor. All distributions from the Trust Fund to the Collateral Fund shall be treated as distributed to the Loss Mitigation Advisor as the beneficial owner thereof. Upon the termination of this Agreement and the liquidation of all Mortgage Loans as to which the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose pursuant to Section 2.04 hereof, the Master Servicer Bank shall distribute to the Loss Mitigation Advisor all amounts remaining in the Collateral Fund (after adjustment for all deposits and permitted withdrawals pursuant to this Agreement) together with any investment earnings thereon. In the event the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose, prior to any distribution to the Loss Mitigation Advisor of all amounts remaining in the Collateral Fund, funds in the Collateral Fund shall be applied consistent with the terms of this Agreement.

Collateral Fund. Upon receipt from the Loss Mitigation Advisor of the initial amount required to be deposited in the Collateral Fund pursuant to Article II, the Master Servicer shall establish and maintain with the Master Servicer as a segregated account on its books and records an Eligible Account (the "Collateral Fund"), entitled "Bank of America, FSB, as Master Servicer, for the benefit of registered holders of BA Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series 1998-65." Amounts held in the Collateral Fund shall continue to be the property of the Loss Mitigation Advisor, subject to the first priority security interest granted hereunder for the benefit of the Certificateholders, until withdrawn from the Collateral Fund pursuant to Section 2.02 or 2.03 hereof. The Collateral Fund shall be an "outside reserve fund" within the meaning of the REMIC Provisions, beneficially owned by the Loss Mitigation Advisor for federal income tax purposes. All income, gain, deduction or loss with respect to the Collateral Fund shall be that of the Loss Mitigation Advisor. All distributions from the Trust Fund to the Collateral Fund shall be treated as distributed to the Loss Mitigation Advisor as the beneficial owner thereof. Upon the termination of this Agreement and the liquidation of all Mortgage Loans as to which the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose pursuant to Section 2.04 hereof, the Master Servicer shall distribute to the Loss Mitigation Advisor all amounts remaining in the Collateral Fund (after adjustment for all deposits and permitted withdrawals pursuant to this Agreement) together with any investment earnings thereon. In the event the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose, prior to any distribution to the Loss Mitigation Advisor of all amounts remaining in the Collateral Fund, funds in the Collateral Fund shall be applied consistent with the terms of this Agreement.

Collateral Fund. Upon receipt from the Loss Mitigation Advisor of the initial amount required to be deposited in the Collateral Fund pursuant to Article II, the Master Servicer shall establish and maintain with the Master Servicer as a segregated account on its books and records an Eligible Account (the "Collateral Fund"), entitled "Bank of America, FSB, as Master Servicer, for the benefit of registered holders of BA Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series 1998-62." Amounts held in the Collateral Fund shall continue to be the property of the Loss Mitigation Advisor, subject to the first priority security interest granted hereunder for the benefit of the Certificateholders, until withdrawn from the Collateral Fund pursuant to Section 2.02 or 2.03 hereof. The Collateral Fund shall be an "outside reserve fund" within the meaning of the REMIC Provisions, beneficially owned by the Loss Mitigation Advisor for federal income tax purposes. All income, gain, deduction or loss with respect to the Collateral Fund shall be that of the Loss Mitigation Advisor. All distributions from the Trust Fund to the Collateral Fund shall be treated as distributed to the Loss Mitigation Advisor as the beneficial owner thereof. Upon the termination of this Agreement and the liquidation of all Mortgage Loans as to which the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose pursuant to Section 2.04 hereof, the Master Servicer shall distribute to the Loss Mitigation Advisor all amounts remaining in the Collateral Fund (after adjustment for all deposits and permitted withdrawals pursuant to this Agreement) together with any investment earnings thereon. In the event the Loss Mitigation Advisor has made any Election to Delay Foreclosure or any Election to Foreclose, prior to any distribution to the Loss Mitigation Advisor of all amounts remaining in the Collateral Fund, funds in the Collateral Fund shall be applied consistent with the terms of this Agreement.