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

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow Account, Midland Loan Services, a Division of PNC Bank, National Association for the benefit of PennyMac Corp. and Various Borrowers” or in such other manner as the Owner prescribes. The Master Servicer shall notify the Owner in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan Documents, to the Borrowers on balances in the Escrow Accounts; (iv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (v) to apply funds to the indebtedness of the Mortgage Loan in accordance with the terms thereof; (vi) to reimburse the Owner for any Servicing Expense for which Escrow Payments should have been made by the Borrowers, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject to to, and as required by by, the terms of the related Mortgage Loan Asset Documents, the Master Servicer has caused to be established and maintained with Subservicers, or shall establish cause to be established and maintain maintained, one or more Eligible Accounts custodial accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identificationidentification if Escrow Funds are delivered in immediately available funds, or as soon as such payments constitute collected funds (if Borrower pays by check). Escrow Accounts shall be Eligible Accounts denominated “Escrow Account, Midland Loan Services, a Division [Name of PNC Bank, National Association Subservicer] in Trust for the benefit Sun Life Insurance and Annuity Company of PennyMac Corp. and Various BorrowersNew York” or in such other manner as the Owner prescribes. Each Escrow Account shall only hold funds related to a Loan Asset, which may be commingled funds with respect to the Owner’s other Loan Assets, but which may not be commingled with other funds of Subservicer, Servicer or owners of other loan assets. The Master Servicer shall notify the Owner in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers on balances in the Escrow Accounts; (iv) to pay to the Master Servicer Owner from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (v) to apply funds to the indebtedness of the Mortgage Loan Asset in accordance with the terms thereofof the Loan Asset Documents; (vi) to reimburse the Owner for any Servicing Expense or Servicing Advance for which Escrow Payments should have been made by the Borrowers, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement; or (ix) to pay or reimburse tenant improvement costs or leasing commissions or to return good faith deposits or other holdbacks to Borrowers in accordance with the applicable Loan Asset Documents.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan DocumentsUnderlying Instruments, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identificationidentification to the extent such Escrow Payments are provided for under such Underlying Instruments. Escrow Accounts shall be denominated “Escrow Account, Midland Loan Services, a Division in the name of PNC Bank, National Association for the benefit of PennyMac Corp. and Various Borrowers” Issuer or in such other manner as the Owner Issuer (or the Collateral Manager on behalf of the Issuer) prescribes. The Master Servicer shall notify the Owner Issuer, the Trustee and the Collateral Manager in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner Issuer, the Trustee and the Collateral Manager prior to any change thereof. Withdrawals Except as provided herein, withdrawals of amounts from an Escrow Account may be mademade only following notice to, subject and consent of, the Issuer (or the Collateral Manager on behalf of the Issuer). Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Documents Underlying Instruments governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan DocumentsUnderlying Instruments, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Loan Collateral Obligation in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer or the Special Servicer, or the Collateral Manager or the Issuer, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Loan Collateral Obligation which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement; or (x) as otherwise permitted pursuant to the Underlying Instruments. Without the prior consent of the Issuer or the Collateral Manager, the Servicer may make withdrawals from the Escrow Accounts to pay items 3.02(a)(i) and (v) above; provided, however, the Servicer shall give the Issuer notice of such payments.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts segregated custodial accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be Eligible Accounts and shall be denominated “Bank of America, N.A., as Servicer, for and on behalf of the Note Holders, Escrow Account, Midland Loan Services, a Division of PNC Bank, National Association for the benefit of PennyMac Corp. and Various Borrowers” or in such other manner as the Owner prescribes”. The Master Servicer shall notify the Owner Note Holders in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner Note Holders prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrowthe related Escrow Account; (ii) to refund to the Borrowers Borrower any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan DocumentsDocuments or applicable law, to the Borrowers Borrower on balances in the Escrow Accounts; (iv) subject to subsection (iii) above, to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.043.4 to the extent actually received; (v) to apply funds to the indebtedness of the Mortgage Loan in accordance with the terms thereof; (vi) to reimburse Servicer or Special Servicer, as the Owner case may be, for any Servicing Expense or Servicing Advance for which Escrow Payments should have been made by the BorrowersBorrower, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Asset Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow Account, Midland Loan Services, a Division of PNC Xxxxx Fargo Bank, National Association Association, as Servicer, on behalf of Wilmington Trust, National Association, as trustee, for the benefit of PennyMac Corp. the Holders of the TRTX 2018-FL1 Notes, the other Secured Parties and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner Issuer (or the Special Servicer on behalf of the Issuer) prescribes. The Master Servicer shall notify the Owner Issuer, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or Directing Holder consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to the consent and consultation provisions set forth in Section 3.23. Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer or the Special Servicer, or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Asset Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow AccountSitus Asset Management LLC, Midland Loan Servicesas Servicer, a Division on behalf of PNC BankWilmington Trust, National Association Association, as trustee, for the benefit of PennyMac Corp. the Holders of the TRTX 2021-FL4 Notes, the other Secured Parties and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner Issuer (or the Collateral Manager on behalf of the Issuer) prescribes. The Master Servicer shall notify the Owner Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or the Collateral Manager (or, with respect to a Non-Controlled Collateral Interest, the holder of the related controlling Companion Participation) consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to consent and consultation provisions set forth in Section 3.23). Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; , (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; , (iiiiv) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers Obligors on balances in the Escrow Accounts; , (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; , (vvi) to apply funds to the indebtedness of the Mortgage Commercial Real Estate Loan in accordance with the terms thereof; , (vivii) to reimburse the Owner Servicer or the Special Servicer, the Collateral Manager or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Commercial Real Estate Loan which represent late collections of Escrow Payments thereunder; , (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; therein or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans Investments described in the Mortgage Loan Schedule and Lease Schedule, and subject to and as required by the terms of the related Mortgage Loan Investment Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “"Escrow Account”") into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow Account, "Midland Loan Services, a Division of PNC Bank, National Association Inc. in Trust for the benefit of PennyMac Corp. and Various Borrowers” Spirit Finance Corporation" or in such other manner as the Owner prescribes. The Master Servicer shall notify the Owner in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Investment Documents governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan DocumentsInvestment Documents or relevant law, to the Borrowers Obligors on balances in the Escrow Accounts; (iv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (v) to apply funds to the indebtedness of or lease amounts due with respect to the Mortgage Loan Investment in accordance with the terms thereof; (vi) to reimburse the Owner or Servicer for any Servicing Expense for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Loan Investment which represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Asset Documents, the Master Servicer shall shall, on behalf of the Trustee, establish and maintain one or more Eligible Accounts as to which the “bank’s jurisdiction” for purposes of Article 9 of the Uniform Commercial Code is the State of New York (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow AccountORIX Real Estate Capital, Midland Loan ServicesLLC, a Division of PNC Bankas Servicer, National Association for the benefit of PennyMac Corp. Wilmington Trust, National Association, as trustee, for the benefit of the Holders of the LFT CRE 2021-FL1 Notes, the other Secured Parties USActive 56231551.8.docx and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner prescribesIssuer (or the Collateral Manager on behalf of the Issuer) and the Servicer agree. The Master parties hereto agree that the Trustee shall be the “customer” (as defined in Section 4-104 of the Uniform Commercial Code) with respect to each Escrow Account. Upon request, the Servicer shall notify the Owner Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer or Special Servicer consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, subject and consent of, the Issuer (or the Special Servicer on behalf of the Issuer). Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer, the Special Servicer, the Collateral Manager or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly within one Business Day after receipt and identification. Escrow Accounts shall be denominated “Escrow Account, Midland Loan Services, a Division of PNC Bank, National Association Inc. in Trust for [the benefit of PennyMac Corp. applicable owner] and Various Borrowers” or in such other manner as the Owner Master Servicer prescribes. The Master Servicer shall notify the Owner Master Servicer in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner Master Servicer prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan Documents, to the Borrowers on balances in the Escrow Accounts; (iv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (v) to apply funds to the indebtedness of the Mortgage Loan in accordance with the terms thereof; (vi) to reimburse the Owner Servicer for any Servicing Expense Advance (including interest thereon at the Advance Rate) for which Escrow Payments should have been made by the Borrowers, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) 3.2.1 With respect to the Mortgage Loans described in the Mortgage Loan ScheduleInvestments, and subject to and as required by the terms of the related Mortgage Loan DocumentsInvestment File, the Master Servicer shall establish and maintain one or more Eligible Accounts segregated interest bearing accounts in the name of Owner and at the bank approved by Owner (each, an “"Escrow Account”") into which any or all Escrow Payments shall be deposited promptly within two Business Days after receipt and identification. Escrow Accounts shall be denominated “Escrow Accounteither "Ares Commercial Real Estate Servicer LLC as agent for ACRC Lender C LLC, Midland Loan Servicestogether with its respective successors or assigns" or "[insert name of appropriate Mortgagor] Ares Commercial Real Estate Servicer LLC as agent for ACRC Lender C LLC, a Division of PNC Bank, National Association for the benefit of PennyMac Corp. and Various Borrowers” together with its respective successors or in such other manner as the Owner prescribesassigns". The Master Servicer shall notify the Owner in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Documents Investment File governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers Mortgagors any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan DocumentsInvestment File, to the Borrowers Mortgagors on balances in the Escrow Accounts; (iv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.043.4; (v) to apply funds to the indebtedness of the Mortgage Loan Investment in accordance with the terms thereof; (vi) to reimburse the Owner Servicer or Special Servicer for any Servicing Expense for which Escrow Payments should have been made by the BorrowersMortgagors, but only from amounts received on the Mortgage Loan which Investment that represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which that was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Asset Documents, the Master Servicer shall shall, on behalf of the Trustee, establish and maintain one or more Eligible Accounts as to which the “bank’s jurisdiction” for purposes of Article 9 of the Uniform Commercial Code is the State of New York (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow AccountLument Real Estate Capital, Midland Loan ServicesLLC, a Division of PNC Bankas Servicer, National Association for the benefit of PennyMac Corp. Wilmington Trust, National Association, as Trustee, for the benefit of the Class A Lender, the Holders of the LMF 2023-1 Notes, the other Secured Parties and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner prescribesIssuer (or the Collateral Manager on behalf of the Issuer) and the Servicer agree. The Master parties hereto agree that the Trustee shall be the “customer” (as defined in Section 4-104 of the Uniform Commercial Code) with respect to each Escrow Account. Upon request, the Servicer shall notify the Owner Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Controlling Holder or Special Servicer consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, subject and consent of, the Issuer (or the Special Servicer on behalf of the Issuer). Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer, the Special Servicer, the Collateral Manager or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow Account, Midland Loan Services, a Division of PNC Xxxxx Fargo Bank, National Association Association, as Servicer, on behalf of Wilmington Trust, National Association, as trustee, for the benefit of PennyMac Corp. the Holders of the GPMT 2018-FL1 Notes, the other Secured Parties and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner Issuer (or the Special Servicer on behalf of the Issuer) prescribes. The Master Servicer shall notify the Owner Issuer, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or Directing Holder consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to the consent and consultation provisions set forth in Section 3.23. Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Commercial Real Estate Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer or the Special Servicer, or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Commercial Real Estate Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.. (b) The Servicer shall maintain accurate records with respect to each Mortgaged Property securing a Commercial Real Estate Loan, reflecting the status of taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums payable with respect thereto as well as the payment of ground rents with respect to each ground lease (to the extent such information is reasonably available). To the extent that the related Loan Documents require Escrow Payments to be made by an Obligor, the Servicer shall use reasonable efforts to obtain, from time to time, all bills for the payment of such 00000000.00.XXXXXXXX -39-

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow Account, Midland Loan Services, a Division of PNC Xxxxx Fargo Bank, National Association Association, as Servicer, on behalf of Wilmington Trust, National Association, as trustee, for the benefit of PennyMac Corp. the Holders of the GPMT 2019-FL2 Notes, the other Secured Parties and Various Borrowers” or in such other manner as the Owner prescribesrelated Companion Participation Holders”. The Master Servicer shall notify the Owner Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or Collateral Manager (or, with respect to a Non-CLO Controlled Collateral Interest, the holder of the related Controlling Companion Participation) consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to the consent and consultation provisions set forth in Section 3.23. Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Serviced Commercial Real Estate Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer or the Special Servicer, the Collateral Manager or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Serviced Commercial Real Estate Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow AccountTrimont Real Estate Advisors, Midland Loan ServicesLLC, a Division as Servicer, on behalf of PNC BankWilmington Trust, National Association Association, as trustee, for the benefit of PennyMac Corp. the Holders of the GPMT 2021-FL4 Notes, the other Secured Parties and Various Borrowers” or in such other manner as the Owner prescribesrelated Companion Participation Holders”. The Master Servicer shall notify the Owner Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or Collateral Manager (or, with respect to a Non-CLO Controlled Collateral Interest, the holder of the related Controlling Companion Participation) consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to the consent and consultation provisions set forth in Section 3.23. Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Serviced Commercial Real Estate Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer or the Special Servicer, the Collateral Manager or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Serviced Commercial Real Estate Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow Account, Midland Loan Services, a Division of PNC Xxxxx Fargo Bank, National Association Association, as Servicer, on behalf of Wilmington Trust, National Association, as trustee, for the benefit of PennyMac Corp. the Holders of the GPMT 2021-FL3 Notes, the other Secured Parties and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner Issuer (or the Special Servicer on behalf of the Issuer) prescribes. The Master Servicer shall notify the Owner Issuer, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or the Subordinate Class Representative (or, with respect to a Non-CLO Controlled Collateral Interest, the holder of the related Directing Holder) consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to the consent and consultation provisions set forth in Section 3.23. Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Serviced Commercial Real Estate Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer or the Special Servicer, or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Serviced Commercial Real Estate Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Asset Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow AccountSitus Asset Management LLC, Midland Loan Servicesas Servicer, a Division on behalf of PNC BankWilmington Trust, National Association Association, as trustee, for the benefit of PennyMac Corp. the Holders of the TRTX 2019-FL3 Notes, the other Secured Parties and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner Issuer (or the Collateral Manager on behalf of the Issuer) prescribes. The Master Servicer shall notify the Owner Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or the Collateral Manager (or, with respect to a Non-Controlled Collateral Interest, the holder of the related controlling Companion Participation) consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to consent and consultation provisions set forth in Section 3.23). Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; , (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; , (iiiiv) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers Obligors on balances in the Escrow Accounts; , (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; , (vvi) to apply funds to the indebtedness of the Mortgage Commercial Real Estate Loan in accordance with the terms thereof; , (vivii) to reimburse the Owner Servicer or the Special Servicer, the Collateral Manager or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Commercial Real Estate Loan which represent late collections of Escrow Payments thereunder; , (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; therein or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Asset Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be denominated “Escrow AccountSitus Asset Management LLC, Midland Loan Servicesas Servicer, a Division on behalf of PNC BankWilmington Trust, National Association Association, as trustee, for the benefit of PennyMac Corp. the Holders of the TRTX 2018-FL2 Notes, the other Secured Parties and Various Borrowersthe related Companion Participation Holders” or in such other manner as the Owner Issuer (or the Collateral Manager on behalf of the Issuer) prescribes. The Master Servicer shall notify the Owner Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to Issuer, the Collateral Manager, the Special Servicer, the Note Administrator and the Trustee promptly after any change thereof. Withdrawals Except as provided herein (including without limitation, the withdrawals described in the following sentence, which may be made without Issuer, Special Servicer or the Collateral Manager (or, with respect to a Non-CLO Controlled Mortgage Asset, the holder of the related controlling Companion Participation) consent), withdrawals of amounts from an Escrow Account may be mademade only following notice to, and consent of, the Special Servicer subject to consent and consultation provisions set forth in Section 3.23). Subject to any express provisions to the contrary herein, to applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, onlywithdrawals of amounts from an Escrow Account may only be made: (i) to effect payment of taxes, assessments, assessments and insurance premiums, ; (ii) to effect payment of ground rents and other items required or permitted to be paid from escrow; (iiiii) to refund to the Borrowers related Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iiiiv) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers Obligors on balances in the Escrow Accounts; (ivv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (vvi) to apply funds to the indebtedness of the Mortgage Loan in accordance with the terms thereof; (vivii) to reimburse the Owner Servicer or the Special Servicer, the Collateral Manager or the Advancing Agent, as the case may be, for any Servicing Expense Advance or Servicing Expense, as the case may be, for which Escrow Payments should have been made by the BorrowersObligors, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (viiviii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viiiix) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject to to, and as required by by, the terms of the related Mortgage Loan Asset Documents, the Master Servicer has caused to be established and maintained with Subservicers, or shall establish cause to be established and maintain maintained, one or more Eligible Accounts custodial accounts (each, an “Escrow Account”) into which any or all Escrow Payments shall be deposited promptly after receipt and identificationidentification if Escrow Funds are delivered in immediately available funds, or as soon as such payments constitute collected funds (if Borrower pays by check). Escrow Accounts shall be Eligible Accounts denominated “Escrow Account, Midland Loan Services, a Division [Name of PNC Bank, National Association Subservicer] in Trust for the benefit Sun Life Assurance Company of PennyMac Corp. and Various BorrowersCanada (U.S.)” or in such other manner as the Owner prescribes. Each Escrow Account shall only hold funds related to a Loan Asset, which may be commingled funds with respect to the Owner’s other Loan Assets, but which may not be commingled with other funds of Subservicer, Servicer or owners of other loan assets. The Master Servicer shall notify the Owner in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Asset Documents governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan Asset Documents, to the Borrowers on balances in the Escrow Accounts; (iv) to pay to the Master Servicer Owner from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04; (v) to apply funds to the indebtedness of the Mortgage Loan Asset in accordance with the terms thereofof the Loan Asset Documents; (vi) to reimburse the Owner for any Servicing Expense or Servicing Advance for which Escrow Payments should have been made by the Borrowers, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement; or (ix) to pay or reimburse tenant improvement costs or leasing commissions or to return good faith deposits or other holdbacks to Borrowers in accordance with the applicable Loan Asset Documents.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) 3.2.1 With respect to the Mortgage Loans described in the Mortgage Loan ScheduleInvestments, and subject to and as required by the terms of the related Mortgage Loan DocumentsInvestment File, the Master Servicer shall establish and maintain one or more Eligible Accounts segregated accounts with Buyer (each, an “"Escrow Account”") into which any or all Escrow Payments shall be deposited promptly within two Business Days after receipt and identification. Escrow Accounts shall be denominated “Escrow Accounteither "Ares Commercial Real Estate Servicer LLC as agent for ACRC Lender W LLC, Midland Loan Servicestogether with its respective successors or assigns" or "[insert name of appropriate borrower] Ares Commercial Real Estate Servicer LLC as agent for ACRC Lender W LLC, a Division of PNC Bank, National Association for the benefit of PennyMac Corp. and Various Borrowers” together with its respective successors or in such other manner as the Owner prescribesassigns". The Master Servicer shall notify the Owner Buyer in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner Buyer prior to any change thereof, and Servicer shall maintain such account at a branch of Buyer, in any event. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Documents Investment File governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers Underlying Obligors any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan DocumentsInvestment File, to the Borrowers Underlying Obligors on balances in the Escrow Accounts; (iv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.043.4; (v) to apply funds to the indebtedness of the Mortgage Loan Investment in accordance with the terms thereof; (vi) to reimburse the Owner Servicer or Special Servicer for any Servicing Expense for which Escrow Payments should have been made by the BorrowersUnderlying Obligors, but only from amounts received on the Mortgage Loan which Investment that represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which that was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement.

Escrow Accounts; Collection of Taxes, Assessments and Similar Items. (a) With respect to the Mortgage Loans described in the Mortgage Loan Schedule, and subject Subject to and as required by the terms of the related Mortgage Loan Documents, the Master Servicer shall establish and maintain one or more Eligible Accounts segregated custodial accounts (each, an “"Escrow Account”") into which any or all Escrow Payments shall be deposited promptly after receipt and identification. Escrow Accounts shall be Eligible Accounts and shall be denominated “"Escrow Account, Midland Loan Services[Servicer] in trust for Wilmington Trust Company, a Division of PNC Bankas Owner Trustee, National Association for the benefit of PennyMac Corp. the FINOVA Commercial Mortgage Loan Asset-Backed Certificates 1998-1 and Various certain Borrowers” or in such other manner as the Owner prescribes. ." The Master Servicer shall notify the Owner Initial Class A Certificateholder in writing of the location and account number of each Escrow Account it establishes and shall notify the Owner Initial Class A Certificateholder prior to any change thereof. Withdrawals of amounts from an Escrow Account may be made, subject to any express provisions to the contrary herein, applicable laws, and to the terms of the related Mortgage Loan Documents governing the use of the Escrow Payments, only: (i) to effect payment of taxes, assessments, insurance premiums, ground rents and other items required or permitted to be paid from escrow; (ii) to refund to the Borrowers any sums determined to be in excess of the amounts required to be deposited therein; (iii) to pay interest, if required under the Mortgage Loan Documents, to the Borrowers on balances in the Escrow Accounts; (iv) to pay to the Master Servicer from time to time any interest or investment income earned on funds deposited therein pursuant to Section 3.04provided such funds are invested in Permitted Investments; (v) to apply funds to the indebtedness or outstanding capital contribution, as applicable, of the Mortgage Loan in accordance with the terms thereof; (vi) to reimburse the Owner Servicer for any Servicing Expense or Servicing Advance for which Escrow Payments should have been made by the Borrowers, but only from amounts received on the Mortgage Loan which represent late collections of Escrow Payments thereunder; (vii) to withdraw any amount deposited in the Escrow Accounts which was not required to be deposited therein; or (viii) to clear and terminate the Escrow Accounts at the termination of this Agreement.