Common use of Dividend Account Clause in Contracts

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, the Dividend Account which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12. (b) On each Servicer Remittance Date, the Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Servicer on or prior to the related Determination Date. On each Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b); provided, however, that the Servicer may net such amount from the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b) is instead to be deposited by the Servicer directly into the Dividend Account, then the Remittance Report of the Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Master Servicer shall establish and maintain, or cause to be established and maintained, a separate, segregated account which shall be entitled "Xxxxx Fargo Bank Minnesota, N.A., as Trustee, in trust for the registered holder of the Dividend Account Certificate issued by First Franklin Mortgage Loan Trust 2001-FF2" and which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12. (b) On each Master Servicer Remittance Date, the Master Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Master Servicer on or prior to the related Determination Date. On each Master Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b); provided, however, that the Master Servicer may net such amount from the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Master Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b) is instead to be deposited by the Master Servicer directly into the Dividend Account, then the Remittance Report of the Master Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Master Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Master Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Master Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Master Servicer shall establish and maintain, or cause to be established and maintained, a separate, segregated account which shall be entitled "Wells Fargo Bank Minnesota, N.A., as Xxxxtee, in trust for the registered holder of the Dividend Account Certificate issued by First Franklin Mortgage Loan Trust 2001-FF1" and which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12. (b) On each Master Servicer Remittance Date, the Master Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Master Servicer on or prior to the related Determination Date. On each Master Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b); provided, however, that the Master Servicer may net such amount from the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Master Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b) is instead to be deposited by the Master Servicer directly into the Dividend Account, then the Remittance Report of the Master Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Master Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Master Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Master Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Master Servicer shall establish and maintain, or cause to be established and maintained, a separate, segregated account which shall be entitled "Xxxxx Fargo Bank Minnesota, National Association, as Trustee, in trust for the registered holder of the Dividend Account Certificate issued by First Franklin Mortgage Loan Trust 2002-FF1" and which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12. (b) On each Master Servicer Remittance Date, the Master Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Master Servicer on or prior to the related Determination Date. On each Master Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b); provided, however, that the Master Servicer may net such amount from the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Master Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b) is instead to be deposited by the Master Servicer directly into the Dividend Account, then the Remittance Report of the Master Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Master Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Master Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Master Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, a separate, segregated account which shall be entitled "Xxxxx Fargo Bank Minnesota, National Association, as Trustee, in trust for the registered holder of the Dividend Account Certificate issued by First Franklin Mortgage Loan Trust 2002-FF4" and which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12. (b) On each Servicer Remittance Date, the Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Servicer on or prior to the related Determination Date. On each Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b); provided, however, that the Servicer may net such amount from the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b) is instead to be deposited by the Servicer directly into the Dividend Account, then the Remittance Report of the Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Master Servicer shall establish and maintain, or cause to be established and maintained, a separate, segregated account which shall be entitled "Wells Fargo Bank Minnesota, N.A., as Xxxxtee, in trust for the registered holder of the Dividend Account Certificate issued by First Franklin Mortgage Loan Trust 2000-FF1" and which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12. (b) On each Master Servicer Remittance Date, the Master Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Master Servicer on or prior to the related Determination Date. On each Master Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b); provided, however, that the Master Servicer may net such amount from the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Master Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Master Servicer to the Trustee as part of the Advances remitted to the Trustee by the Master Servicer pursuant to Section 4.04(b) is instead to be deposited by the Master Servicer directly into the Dividend Account, then the Remittance Report of the Master Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Master Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Master Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Master Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, a separate, segregated account which shall be entitled "Xxxxx Fargo Bank Minnesota, National Association, as Trustee, in trust for the registered holder of the Dividend Account Certificate issued by First Franklin Mortgage Loan Trust 2002-FF2" and which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12. (b) On each Servicer Remittance Date, the Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Servicer on or prior to the related Determination Date. On each Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b); provided, however, that the Servicer may net such amount from the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b) is instead to be deposited by the Servicer directly into the Dividend Account, then the Remittance Report of the Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, the Dividend Account which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12.. 100 (b) On each Servicer Remittance Date, the Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Servicer on or prior to the related Determination Date. On each Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b); provided, however, that the Servicer may net such amount from the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b) is instead to be deposited by the Servicer directly into the Dividend Account, then the Remittance Report of the Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently with the establishment of the Trust pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account Certificate. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate will be deemed to be the owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes and subject to the rights of the Servicer to all income or gain from the investment of amounts on deposit in the Dividend Account). Upon the termination of the Trust, the Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust and distributed to the holder of the Dividend Account Certificate or its designee. The Dividend Account will be part of the Trust but not part of any REMIC and any payments to the holder of the Dividend Account Certificate of any amounts 101 therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).

Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, the Dividend Account which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.123.05. (b) The Servicer shall deposit into the Dividend Account, within two Business Days of receipt thereof, an amount equal to the applicable Dividend Portion of each Scheduled Payment on each Dividend Mortgage Loan or any other recovery in respect of such portion of such Scheduled Payments to the extent that an amount equal to the Dividend Portion of such Scheduled Payments has not previously been deposited in the Dividend Account in respect of such Scheduled Payments. On each Servicer Remittance Date, the Servicer shall deposit deposit, cause to be deposited or, pursuant to Section 4.01(a) hereof, advance into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Servicer on or prior to the related Determination Date. On each Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Scheduled Payment on each Dividend Mortgage Loan, to the extent advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b4.01(a); provided, however, that the Servicer may net such amount from the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b4.01(a), and instead deposit such amount directly into the Dividend Account on the Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b) is instead to be deposited by the Servicer directly into the Dividend Account, then the Remittance Report of the Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate. (c) The Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Scheduled Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Servicer shall make withdrawals withdraw from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Servicer Remittance Date and pay to the Trustee for deposit into the Distribution Account, Depositor the Dividend Portions of Monthly Scheduled Payments made by the related Mortgagor as to which such the related Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note. (d) The Trustee acknowledges the establishment of the Dividend Account. Concurrently Account is established concurrently with the establishment of the Trust Fund pursuant to this Agreement and in exchange for the Dividend Account, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Dividend Account Certificate. The provisions of Section 4.01(e) and of Article V (as to payment, authentication, execution, registration, denomination, transfer, exchange and otherwise) that are applicable to the Class C Certificates and the Class P Certificates, shall be applicable also to the Dividend Account CertificateAgreement. (e) For federal and state income tax purposes, the holder of the Dividend Account Certificate Depositor will be deemed to be the beneficial owner of the Dividend Account and all amounts deposited into the Dividend Account (subject to the rights of Mortgagors under Dividend Mortgage Loans to refunds as provided in the related Mortgage Notes Notes) and subject the Depositor agrees not to the rights of the Servicer to all take an inconsistent position for federal or state income or gain from the investment of amounts on deposit in the Dividend Account)tax purposes. Upon the termination of the TrustTrust Fund, the Servicer and the Trustee shall cause all amounts remaining on deposit in the Dividend Account to be released by the Trust Fund and distributed to the holder of the Dividend Account Certificate or Depositor for its designeeown account. The Dividend Account will be part of the Trust Fund but not part of any REMIC and any payments REMIC. Any payment to the holder Depositor of any amounts from the Dividend Account Certificate of any amounts therefrom will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1)860G(a)(1) of the Code. (f) On the Closing Date, the Servicer will deposit into the Dividend Account an amount equal to the Dividend Portion of each Scheduled Payment on a Dividend Mortgage Loan received or advanced during the period from the date of origination of such Mortgage Loan to the Closing Date.