Common use of Escrow and Other Accounts Clause in Contracts

Escrow and Other Accounts. To the extent that any Mortgage Loan in a Pool provides for the collection of funds from the Borrower for payments of a Borrower’s property taxes and assessments by special assessment districts, ground rents, insurance premiums, and similar expenses, the Direct Servicer will establish one or more escrow accounts with an Eligible Depository or, if approved by the Master Servicer, a financial institution whose accounts are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to the Guarantor. Each escrow account will be either a demand deposit account (which for this purpose includes a money market deposit account) or an account through which funds are invested in Eligible Investments or such comparable investments as may be acceptable to the Master Servicer. Collection of such taxes, assessments, insurance premiums and related items may be waived, delayed or reinstated, unless prohibited in the related Servicing Contract.

Escrow and Other Accounts. To the extent that any Mortgage Loan in a Pool provides for the collection of funds from the Borrower for payments of a Borrower’s property taxes and assessments by special assessment districts, ground rents, insurance premiums, and similar expenses, the Direct Primary Servicer will establish one or more escrow accounts with an Eligible Depository or, if approved by the Master Servicer, a financial institution whose accounts are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to the Guarantor. Each escrow account will be either a demand deposit account (which for this purpose includes a money market deposit account) or an account through which funds are invested in Eligible Investments or such comparable investments as may be acceptable to the Master Servicer. Collection of such taxes, assessments, insurance premiums and related items may be waived, delayed or reinstated, unless prohibited in the related Servicing Contract.Contract.‌

Escrow and Other Accounts. To the extent that any Mortgage Loan in a Pool provides for the collection of funds from the Borrower for payments of a Borrower’s property taxes and assessments by special assessment districts, ground rents, insurance premiums, and similar expenses, the Direct Primary Servicer will establish one or more escrow accounts with an Eligible Depository or, if approved by the Master Servicer, a financial institution whose accounts are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to the Guarantor. Each escrow account will be either a demand deposit account (which for this purpose includes a money market deposit account) or an account through which funds are invested in Eligible Investments or such comparable investments as may be acceptable to the Master Servicer. Collection of such taxes, assessments, insurance premiums and related items may be waived, delayed or reinstated, unless prohibited in the related Servicing Contract.