Escrow Requirement. Unless, (a) at the origination of a Mortgage Loan the Borrower is not required to make Escrow Item payments thereafter, (b) Escrow Funds collection has been waived pursuant to Section 10.5.1 hereof, or (c) the collection of Escrow Funds is precluded by applicable law, the Servicer must continue to collect 1/12th of the annual total for all Escrow Items with each Monthly Payment on such Mortgage Loan, as determined pursuant to Section 10.3.1 hereof.
Appears in 77 contracts
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-2 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008-Ar1 Trust)
