Common use of Collection of Certain Mortgage Loan Payments; Collection Account Clause in Contracts

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Servicer shall use its best efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. The Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the West. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Servicer shall deposit in the Trustee Collection Account any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in respect of the _________ Due Date and received on or prior to the Cut-Off Date. On the third Business Day prior to the first Remittance Date, the Servicer shall have deposited into the Trustee Collection Account all of the following collections and payments received or made by the Servicer in respect of monies due under the Mortgage Loans (other than in respect of interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date), and shall, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into the Collection Account:

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Initial Mortgage Loans, or Subsequent Cut-off Date, with respect to the Subsequent Mortgage Loans, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of the _________ Due Date and received a date on or before the Cut-off Date (except for any interest accrued prior to December 1, 1996 and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items or (iii) if at any time a Mortgage Loan is three payments delinquent, allow the borrower to make one of his payments one month after the final payment date of such Mortgage Loan, if such borrower makes two of the delinquent payments at such time. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Initial Mortgage Loans, or Subsequent Cut-off Date, with respect to the Subsequent Mortgage Loans, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of the _________ Due Date and received a date on or before the Cut-off Date (except for any interest accrued prior to December 1, 1997 and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Initial Mortgage Loans, or Subsequent Cut-off Date, with respect to the Subsequent 58 Mortgage Loans, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of a date on or before the Cut-off Date (except for any interest accrued prior to ______________________, 19____ Due Date and except for any principal received on or by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in respect due or to be applied as of a date after the _________ Due Date and received Cut-off Date, (ii) any amounts representing Monthly Payments due or to be applied as of a date on or before the Cut-off Date (except for any interest accrued prior to [DATE] and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Except as provided in Section 5.10, the Servicer may not waive, modify or vary terms of the Mortgage Loans in a manner that would constitute a "significant modification" of such Mortgage Loan within the meaning of Treasury Regulations Section 1.860G-2(b); provided, that in the event that any Mortgage Loan is in default or, in the judgment of the Servicer, such default is reasonably foreseeable, the Servicer, consistent with Accepted Servicing Practices, may waive, modify or vary any term of such Mortgage Loan (including modifications that would change the Mortgage Rate, defer or forgive the payment of principal or interest or extend the final maturity date of such Mortgage Loan), accept payment from the related Mortgagor of an amount less than the unpaid principal balance thereof in final satisfaction of such Mortgage or consent to the postponement of strict compliance with any such term or otherwise grant indulgence to any Mortgagor if in the Servicer's determination such waiver, modification, postponement or indulgent is not materially adverse to the interests of the Certificateholders (taking into account any estimated Realized Loss that might result absent such action). The Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in respect due or to be applied as of a date after the _________ Due Cut-off Date, (ii) any amounts representing Monthly Payments on the Mortgage Loans due or to be applied as of a date on or before the Cut-off Date and received (except for any interest due on or prior to the Cut-Off Date. On off Date and except for any principal received by the third Business Day Company prior to the first Remittance DateCut-off Date the receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Days of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in respect due or to be applied as of a date after the _________ Due Date and received Cut-off Date, (ii) any amounts representing Monthly Payments on the Mortgage Loans due or to be applied as of a date on or before the Cut-off Date (except for any interest accrued prior to September 1, 1997 and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account")Certificateholders. The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Initial Mortgage Loans, or Subsequent Cut-off Date, with respect to the Subsequent Mortgage Loans, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of the _________ Due Date and received a date on or before the Cut-off Date (except for any interest accrued prior to June 1, 1997 and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items or (iii) if at any time a Mortgage Loan is three payments delinquent, allow the borrower to make one of his payments one month after the final payment date of such Mortgage Loan, if such borrower makes two of the delinquent payments at such time. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in respect due or to be applied as of a date after the _________ Due Date and received Cut-off Date, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of a date on or before the Cut-off Date (except for any interest accrued prior to March 1, 1998 and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items or (iii) if at any time a Mortgage Loan is three payments delinquent, allow the borrower to make one of his payments one month after the final payment date of such Mortgage Loan, if such borrower makes two of the delinquent payments at such time. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in respect due or to be applied as of a date after June 1, 1998, (ii) any amounts representing Monthly Payments on the _________ Due Date and received Initial Mortgage Loans due or to be applied as of a date on or before the Cut-off Date (except for any interest accrued prior to June 1, 1998 and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Servicer shall use its best efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. The Servicer shall establish and maintain in the name of the Trustee two one or more Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, Exchangeable Certificates, the Additional Certificates and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the West. The Certificate Insurer, provided, that all amounts deposited in its sole discretion, may direct the Servicer to close such Collection Account and maintained at the Bank of the West must be transferred to establish and maintain a replacement the Trustee Collection Account that is an Eligible Accountwithin 7 days of such deposit. Neither the Collection Account nor the Trustee Collection Account constitute the assets of the _____ REMICREMIC 1995-2. On the Closing Date, the Servicer shall deposit in the Trustee Collection Account any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in respect of the _________ November 15, 1995 Due Date and received on or prior to the Cut-Off DateNovember 30, 1995. On the third Business Day prior to the first Remittance Date, the Servicer shall have deposited into the Trustee Collection Account all of the following collections and payments received or made by the Servicer in respect of monies due under the Mortgage Loans (other than in respect of interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date), and shall, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into the Collection Account:

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Initial Mortgage Loans, or Subsequent Cut-off Date, with respect to the Subsequent Mortgage Loans, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of the _________ Due Date and received a date on or before the Cut-off Date (except for any interest accrued prior to the Cut-Off Date. On off Date and except for any principal received by the third Business Day Company prior to the first Remittance DateCut-off Date the receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Days of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Initial Mortgage Loans, or Subsequent Cut-off Date, with respect to the Subsequent Mortgage Loans, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of the _________ Due Date and received a date on or before the Cut-off Date (except for any interest accrued prior to February 1, 1997 and except for any principal received by the Company prior to the Cut-Off Date. On off Date the third receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Day prior to the first Remittance DateDays of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Initial Mortgage Loans, or Subsequent Cut-off Date, with respect to the Subsequent Mortgage Loans, (ii) any amounts representing Monthly Payments on the Initial Mortgage Loans due or to be applied as of the _________ Due Date and received a date on or before the Cut-off Date (except for any interest accrued prior to the Cut-Off Date. On off Date and except for any principal received by the third Business Day Depositor prior to the first Remittance DateCut-off Date the receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Days of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any prepayment charge, assumption fee, late payment charge or other charge in connection with a Mortgage Loan, and (ii) arrange a schedule, running for no more than 180 days after the Due Date for payment of any installment on any Mortgage Note, for the liquidation of delinquent items. Any provision of this agreement to the contrary notwithstanding, the Master Servicer shall not agree to the modification or waiver of any provision of a Mortgage Loan at a time when such Mortgage Loan is not in default or such default is not reasonably foreseeable, if such modification or waiver would be treated as a taxable exchange under Section 1001 of the Code, unless such exchange would not be considered a "prohibited transaction" under the REMIC Provisions. The Master Servicer shall establish and maintain in the name of the Trustee two Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates, the Additional Certificates Certificateholders and the Certificate Insurer, one of which shall be established and maintained with the Trustee (the "Trustee Collection Account"). The Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account and one Collection Account may be maintained at the Bank of the WestAccount. The Certificate Insurer, in its sole discretion, may direct the Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account. Neither the Collection Account nor the Trustee Collection Account constitute assets of the _____ REMIC. On the Closing Date, the Master Servicer shall deposit in the Trustee Collection Account (i) any amounts representing the principal portion of Monthly Payments on the Mortgage Loans made in due or to be applied as of a date after the Cut-off Date, with respect to the Mortgage Loans, (ii) any amounts representing Monthly Payments on the Mortgage Loans due or to be applied as of the _________ Due Date and received a date on or before the Cut-off Date (except for any interest accrued prior to the Cut-Off Date. On off Date and except for any principal received by the third Business Day Depositor prior to the first Remittance DateCut-off Date the receipt of which is reflected on the Mortgage Loan Schedule) and (iii) thereafter, on a daily basis within two Business Days of receipt (except as otherwise permitted herein), the Servicer shall have deposited into the Trustee Collection Account all of the following payments and collections and payments received or made by the Servicer it (other than any amounts in respect of monies due under the Mortgage Loans (other than in respect principal of or interest on the Mortgage Loans accrued on or before the Due Date immediately preceding the Cut-Off Date)which, under clauses (i) and shall(ii) above, on a daily basis thereafter (except as otherwise provided herein), deposit such collections and payments into are not required to be deposited in the Collection Account:):