Common use of Establishment of Collection Account; Deposits in Collection Account Clause in Contracts

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: 1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; 2) all payments on account of interest on the Mortgage Loans; 3) all Liquidation Proceeds; 4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; 5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6) any Monthly Advances in accordance with Section 6.03; 7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any accounts. Any funds deposited in excess of the current FDIC established insurance limits invested in Permitted InvestmentsCollection Account shall at all times be fully insured to the full extent permitted under applicable law. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basisAccount, within two Business Days after of receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest less the Servicing Fee on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7) (8) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) (9) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of servicing fees, late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; (5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; (6) any Monthly Advances in accordance with Section 6.03; (7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; (8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and (9) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The On and after the related Funding Date, the Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Cut-off Date, or received by it prior to the Funding Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Cut-off Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's ’s normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's ’s normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7) (8) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's ’s own funds without reimbursement therefor; 8) (9) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and; 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof.; and 10(11) interest on an amount from the amount of any Payoff at the related Remittance Rate Buydown Account that when added to the end of Mortgagor’s payment will equal the month in which prepayment of full monthly amount due under the related Mortgage Loan occursNote. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal PrepaymentsPrepayrnents, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections Section! 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; (5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; (6) any Monthly Advances in accordance with Section 6.03; (7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; (8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii5.16(u) in connection with any losses on Permitted Investments; and; (9) any amounts required to be deposited in the Collection Account pursuant to Sections 5.13, 5.14, 7.01 or 7.02 or otherwise pursuant to the terms hereof.hereof and (10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs, such deposit to be made from the Servicer's own funds without reimbursement therefor. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Accounts which shall be an Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted InvestmentsAccount. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 5.04 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a A copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basisAccount, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest less the Servicing Fee on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11Section 5.10, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's ’s normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's ’s normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7(8) [reserved]; (9) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; (5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; (6) any Monthly Advances in accordance with Section 6.03; (7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; (8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and; (9) any amounts required to be deposited in the Collection Account pursuant to Sections 5.13, 5.14, 7.01 or 7.02 or otherwise pursuant to the terms hereof.; and (10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs, such deposit to be made from the Servicer's own funds without reimbursement therefor. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The On and after the related Funding Date, the Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Cut-off Date, or received by it prior to the Funding Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Cut-off Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's ’s normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's ’s normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7) (8) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's ’s own funds without reimbursement therefor; 8) (9) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Accounts which shall be an Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted InvestmentsAccount. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 4.04 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a A copy of such certification or letter agreement shall be furnished to the PurchaserOwner upon Owner's request. The Servicer shall deposit in the Collection Account on a daily basisAccount, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.044.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Effective Date, or received by it prior to the Funding Effective Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Effective Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest less the Servicing Fee on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Disposition Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 6.10 and 5.116.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the ServicerServicer 's normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the ServicerServicer 's normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.035.03; 7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; (8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 4.15 in connection with any losses on Permitted Investments; and; (9) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 6.01 or 7.02 6.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.; and

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 5.04 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a A copy of such certification or letter agreement shall be furnished to the Purchaser. The Collection Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Servicer. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 (i) funds collected and 5.11, other than proceeds to be held received in connection with the Escrow Account and applied operation and/or disposition of each REO Property; provided that the Servicer shall remit to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing proceduresPurchaser, the related Mortgages or applicable law; 5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6) any Monthly Advances in accordance with Section 6.03; 7) 6.01, any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, proceeds from such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any amounts required to be deposited REO Disposition in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant following the payment of all expenses and Servicing Advances relating to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.subject REO Property; and

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: 1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; 2) all payments on account of interest on the Mortgage Loans; 3) all Liquidation Proceeds; 4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; 5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6) any Monthly Advances in accordance with Section 6.03; 7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: 1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; 2) all payments on account of interest on the Mortgage Loans; 3) all Liquidation Proceeds; 4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; 5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6) any Monthly Advances in accordance with Section 6.03; 7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Accounts which shall be an Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted InvestmentsAccount. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 5.04 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a A copy of such certification or letter agreement shall be furnished to the PurchaserPurchaser upon the execution of this Agreement. The Servicer shall deposit in the Collection Account on a daily basisAccount, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding the Closing Date, or received by it prior to the Funding Closing Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Closing Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest less the Servicing Fee on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Disposition Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11Section 5.10, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's ’s normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's ’s normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7(8) with respect to each Principal Prepayment an amount (to be paid by the Servicer out of its funds) described pursuant to Section 6.03(3); (9) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. (a) The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Accounts (collectively, the "Collection AccountsAccount") entitled "Collection Account, Washington Mutual Bank, FA, as Servicer for the Trust under the Servicing Agreement dated as of January 1, 2004 between Morgan Stanley ABS Capital I Inc., as Depositor, Deutsche Bank Nationax Xxxxt Xxxxxxy, as Trustee and Washington Mutual Bank, FA, as Servicer, in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2004-SD1, Mortgage Pass-Througx Xxxxixxxxxxx, Series 2004-SD1", and which must be an Eligible Account. If the form of time deposit or demand accounts constituting Eligible AccountsCollection Account is established with an institution other than the Servicer, with any funds in excess of (i) the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account shall be evidenced by a certification letter agreement substantially in the form of Exhibit 5.04-1 B attached hereto, in hereto and (ii) the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, Servicer shall deliver a copy of such certification or letter agreement shall be furnished to the Purchaser. Trustee on or prior to the Closing Date. (b) The Servicer shall shall, upon receipt (and in any event, no later than the end of the second Business Day following receipt thereof (except as otherwise provided below)), deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein therein, the following payments and collections received or made by it the Servicer subsequent to each Funding Date, or received by it prior to the Funding Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: 1(i) the principal portion of all payments on account of principal, including Principal Prepayments, Monthly Payments on the Mortgage Loans; 2(ii) the interest portion of all payments on account of interest Monthly Payments on the Mortgage LoansLoans less the Servicing Fee; 3(iii) all Principal Prepayments in Part and Principal Prepayments in Full; (iv) all Liquidation Proceeds; 4(v) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds Insurance Proceeds to be held in the Escrow Account and applied to the restoration or and repair of the Mortgaged Properties Property or released to the applicable Mortgagors Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable lawApplicable Requirements; 5(vi) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a the Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable lawApplicable Requirements; 6(vii) any amount required to be deposited in the Collection Account pursuant to Sections 2.4(d), 2.10, 2.12(c), 2.12(e) or 4.2(b); (viii) any amounts payable in connection with the repurchase of any Mortgage Loan pursuant to Section 3.3 of the Purchase Agreement; and (ix) with respect to each Principal Prepayment in Full, an amount (to be paid by the Servicer out of its own funds without reimbursement therefor) which, when added to all amounts allocable to interest received in connection with such Principal Prepayment in Full, equals one month's interest on the amount of principal so prepaid at the applicable Net Rate, provided, however, that the aggregate of deposits made by the Servicer pursuant to this clause (ix) in respect of any Monthly Remittance Date shall not exceed the Compensating Interest Cap ("Compensating Interest"). (c) The Servicer shall, no later than 24 hours prior to the next Monthly Remittance Date, deposit in the Collection Account all Monthly Advances. (d) The Servicer may cause the funds on deposit from time to time in the Collection Account to be invested in Permitted Investments, which Permitted Investments shall mature not later than the Business Day immediately preceding the next Monthly Remittance Date following the date such funds are invested. All Permitted Investments shall be made in the name of the Servicer or the Trustee or its nominee. All income and gain realized from any Permitted Investment shall be for the benefit of the Servicer and shall be subject to its withdrawal or order from time to time. The Servicer shall indemnify the Trust Fund for any loss incurred in respect of any Permitted Investment by such Servicer, and the amount of such loss shall be remitted to the Trustee for deposit in the Distribution Account by the Servicer, out if its own funds, without reimbursement therefor, no later than 24 hours prior to the next Monthly Remittance Date following the date of such loss. (e) The Servicer shall deliver to the Trustee from time to time for deposit, and the Trustee shall so deposit, in the Distribution Account: (i) any Monthly Advances in accordance with Advances, as required pursuant to Section 6.032.16; 7(ii) any Stayed Funds, as soon as permitted by the federal bankruptcy court having jurisdiction in such matters; (iii) [Reserved]; (iv) any amounts required to be deposited in the Distribution Account pursuant to Sections 2.4 or 2.19; and (v) any amounts required to be deposited by the Servicer pursuant to Section 5.11 2.10 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be being made from the Servicer's own funds funds, without reimbursement therefor;. 8) (f) Promptly upon receipt of any amounts Stayed Funds, whether from the Servicer, a trustee in bankruptcy, or federal bankruptcy court or other source, the Trustee shall notify the Servicer of such receipt and deposit such funds in the Distribution Account, subject to withdrawal thereof as permitted hereunder. (g) Notwithstanding any provision herein or in the Pooling Agreement to the contrary, in the event that the Servicer shall remit to the Trustee any amount not required to be deposited by remitted, the Servicer pursuant may at any time direct the Trustee to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any withdraw such amount from the Distribution Account. Such direction may be accomplished by delivering an Officer's Certificate to the Trustee which describes the amounts required to be deposited in error in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant Distribution Account. The Trustee shall give notice to the terms hereof. 10) interest on the amount Servicer of any Payoff at the related Remittance Rate to the end proposed change of the month in which prepayment location of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Distribution Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, prior to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensationany change thereof.

Establishment of Collection Account; Deposits in Collection Account. (a) The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Accounts (collectively, the "Collection AccountsAccount") entitled "Collection Account, Washington Mutual Bank, FA, as Servicer for the Trust under the Servicing Agreement dated as of June 1, 2004 between Xxxxxx Xxxxxxx ABS Capital I Inc., as Depositor, Deutsche Bank National Trust Company, as Trustee and Washington Mutual Bank, FA, as Servicer, in trust for registered Holders of Xxxxxx Xxxxxxx ABS Capital I Inc. Trust 2004-SD2, Mortgage Pass-Through Certificates, Series 2004-SD2", and which must be an Eligible Account. If the form of time deposit or demand accounts constituting Eligible AccountsCollection Account is established with an institution other than the Servicer, with any funds in excess of (i) the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account shall be evidenced by a certification letter agreement substantially in the form of Exhibit 5.04-1 B attached hereto, in hereto and (ii) the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, Servicer shall deliver a copy of such certification or letter agreement shall be furnished to the Purchaser. Trustee on or prior to the Closing Date. (b) The Servicer shall shall, upon receipt (and in any event, no later than the end of the second Business Day following receipt thereof (except as otherwise provided below)), deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein therein, the following payments and collections received or made by it the Servicer subsequent to each Funding Date, or received by it prior to the Funding Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: 1(i) the principal portion of all payments on account of principal, including Principal Prepayments, Monthly Payments on the Mortgage Loans; 2(ii) the interest portion of all payments on account of interest Monthly Payments on the Mortgage LoansLoans less the Servicing Fee; 3(iii) all Principal Prepayments in Part and Principal Prepayments in Full; (iv) all Liquidation Proceeds; 4(v) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds Insurance Proceeds to be held in the Escrow Account and applied to the restoration or and repair of the Mortgaged Properties Property or released to the applicable Mortgagors Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable lawApplicable Requirements; 5(vi) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a the Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable lawApplicable Requirements; 6(vii) any amount required to be deposited in the Collection Account pursuant to Sections 2.4(d), 2.10, 2.12(c), 2.12(e) or 4.2(b); (viii) any amounts payable in connection with the repurchase of any Mortgage Loan pursuant to Section 3.3 of the Purchase Agreement; and (ix) with respect to each Principal Prepayment in Full, an amount (to be paid by the Servicer out of its own funds without reimbursement therefor) which, when added to all amounts allocable to interest received in connection with such Principal Prepayment in Full, equals one month's interest on the amount of principal so prepaid at the applicable Net Rate, provided, however, that the aggregate of deposits made by the Servicer pursuant to this clause (ix) in respect of any Monthly Remittance Date shall not exceed the Compensating Interest Cap ("Compensating Interest"). (c) The Servicer shall, no later than 24 hours prior to the next Monthly Remittance Date, deposit in the Collection Account all Monthly Advances. (d) The Servicer may cause the funds on deposit from time to time in the Collection Account to be invested in Permitted Investments, which Permitted Investments shall mature not later than the Business Day immediately preceding the next Monthly Remittance Date following the date such funds are invested. All Permitted Investments shall be made in the name of the Servicer or the Trustee or its nominee. All income and gain realized from any Permitted Investment shall be for the benefit of the Servicer and shall be subject to its withdrawal or order from time to time. The Servicer shall indemnify the Trust Fund for any loss incurred in respect of any Permitted Investment by such Servicer, and the amount of such loss shall be remitted to the Trustee for deposit in the Distribution Account by the Servicer, out if its own funds, without reimbursement therefor, no later than 24 hours prior to the next Monthly Remittance Date following the date of such loss. (e) The Servicer shall deliver to the Trustee from time to time for deposit, and the Trustee shall so deposit, in the Distribution Account: (i) any Monthly Advances in accordance with Advances, as required pursuant to Section 6.032.16; 7(ii) any Stayed Funds, as soon as permitted by the federal bankruptcy court having jurisdiction in such matters; (iii) [Reserved]; (iv) any amounts required to be deposited in the Distribution Account pursuant to Sections 2.4 or 2.19; and (v) any amounts required to be deposited by the Servicer pursuant to Section 5.11 2.10 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be being made from the Servicer's own funds funds, without reimbursement therefor;. 8) (f) Promptly upon receipt of any amounts Stayed Funds, whether from the Servicer, a trustee in bankruptcy, or federal bankruptcy court or other source, the Trustee shall notify the Servicer of such receipt and deposit such funds in the Distribution Account, subject to withdrawal thereof as permitted hereunder. (g) Notwithstanding any provision herein or in the Pooling Agreement to the contrary, in the event that the Servicer shall remit to the Trustee any amount not required to be deposited by remitted, the Servicer pursuant may at any time direct the Trustee to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any withdraw such amount from the Distribution Account. Such direction may be accomplished by delivering an Officer's Certificate to the Trustee which describes the amounts required to be deposited in error in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant Distribution Account. The Trustee shall give notice to the terms hereof. 10) interest on the amount Servicer of any Payoff at the related Remittance Rate to the end proposed change of the month in which prepayment location of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Distribution Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, prior to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensationany change thereof.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit EXHIBIT 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit EXHIBIT 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections SECTIONS 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; (5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; (6) any Monthly Advances in accordance with Section SECTION 6.03; (7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; (8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and; (9) any amounts required to be deposited in the Collection Account pursuant to Sections SECTIONS 5.13, 5.14, 7.01 or 7.02 or otherwise pursuant to the terms hereof.; and (10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs, such deposit to be made from the Servicer's own funds without reimbursement therefor. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Revolving Credit Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accountsaccounts. On or before the Closing Date, with any funds Servicer shall establish a Collection Account (the "Collection Account") and shall ensure that all payments subject to this Agreement will be held solely in excess of the current FDIC established insurance limits invested in Permitted InvestmentsCollection Account. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-5.04- 2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7g), (8) h) and (9i) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but and allocable to a period subsequent theretoto the Cutoff Date, other than in respect of principal and interest on the Mortgage Revolving Credit Loans due on or before the Funding Date: 1) Cutoff Date (regardless of when received): all payments on account of principal, including Principal Prepayments, principal on the Mortgage Revolving Credit Loans; 2) ; all payments on account of interest on the Mortgage Loans; 3) Revolving Credit Loans less the related Servicing Fee; all Liquidation Proceeds; 4) ; all REO Proceeds; all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11Section 5.08, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; 5) ; all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6) any Monthly Advances in accordance with Section 6.03; 7) ; any amounts required to be deposited by the Servicer pursuant to Section 5.11 5.08 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) ; interest on amounts on deposit in the Collection Account and any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.12 in connection with any losses on Permitted Investments; and 9) and any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 7.01, 7.02, or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's ’s normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's ’s normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7) (8) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's ’s own funds without reimbursement therefor; 8) (9) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investmentsaccounts. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The On and after the related Funding Date, the Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Cut-off Date, or received by it prior to the Funding Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Cut-off Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7) (8) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) (9) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Accounts which shall be an Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted InvestmentsAccount. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 5.04 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a A copy of such certification or letter agreement shall be furnished to the Purchaser upon Purchaser’s request. The Servicer shall deposit in the Collection Account on a daily basisAccount, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)8), (8) 9) and (910) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (2) all payments on account of interest less the Servicing Fee on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all REO Disposition Proceeds; (5) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11Section 5.10, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's ’s normal servicing procedures, the related Mortgages or applicable law; 5(6) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's ’s normal servicing procedures, the related Mortgage or applicable law; 6(7) any Monthly Advances in accordance with Section 6.03; 7(8) [reserved]; (9) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) 5.16 in connection with any losses on Permitted Investments; and 9(10) any amounts required to be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. (a) The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan by the Servicer separate and apart from any of its own funds and general assets and shall establish and maintain one or more on behalf of, and as an agent of, the Owner, a segregated Collection Accounts, Account in the form name of time deposit or demand accounts constituting Eligible Accountsthe Owner as account holder and owner, with any funds in excess the Servicer as an authorized signatory. (b) Within two Business Days of the current FDIC established insurance limits invested in Permitted Investments. The creation receipt of any Collection Account payments and collections on the Mortgage Loans or any REO Property, the Servicer shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of remit such certification or letter agreement shall be furnished amounts to the PurchaserCollection Account. The Servicer shall deposit retain in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections (net of any funds refundable to any Mortgagor determined to be in excess of the amounts required under the related Mortgage Loan documents) received or made by it subsequent to each Funding Date, or received by it prior to the Funding Transfer Date but allocable to a period subsequent thereto, other than in respect (net of principal and Servicing Fees (payable solely from payments on account of interest on the Mortgage Loans due on Loans) and reimbursement of Servicing Advances or before other amounts which the Funding Date:Servicer is permitted to withdraw from the Collection Account to pay or reimburse itself pursuant to Section 3.05): 1(i) all payments on account of principal, including Principal Prepayments, on principal of the Mortgage Loans, including any deferred principal balances; 2(ii) all payments on account of interest on the Mortgage Loans, including any deferred interest; 3(iii) all net Liquidation Proceeds; 4(iv) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied any Servicing Advance previously reimbursed to the restoration Servicer which is later recovered from the Mortgagor or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable lawLiquidation Proceeds; 5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6) any Monthly Advances in accordance with Section 6.03; 7(v) any amounts required to be deposited by the Servicer pursuant to Section 5.11 3.12 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made ; (vi) any repurchase price or related amount received from the Servicer's own funds without reimbursement thereforSeller pursuant to the Purchase Agreement; 8) (vii) any other amounts required to be deposited received by the Servicer that are payable to the Owner or the Mortgagor, or any other amounts related to any Mortgage Loan; (viii) any Recovery Proceeds; (ix) any REO Property revenues (net of costs and expenses) pursuant to Section 5.16(ii3.13(c) in connection with any losses on Permitted Investmentshereof; and 9(x) any amounts required collected by the Servicer and to be deposited in the Collection Account as provided in Section 3.09. Any of the deposits pursuant to Sections 7.01 (ii) or 7.02 or otherwise pursuant (iii) (to the terms hereof. 10extent allocated to interest) interest on the amount of any Payoff above may, at the related Remittance Rate Servicer's option, be net of the Servicing Fee. If the Servicer has remitted to the end Collection Account any amount not required to be remitted, the Servicer may at any time withdraw, or cause to be withdrawn, such amount from the Collection Account, any provision herein to the contrary notwithstanding. The Collection Account shall be an Eligible Account. Any interest or earnings on funds deposited in the Collection Account by the depository institution shall accrue to the benefit of the month in which prepayment Owner. The Servicer shall give written notice to the Owner of the related Mortgage Loan occurslocation of the Collection Account when established and prior to any change thereof in accordance with Section 3.09 hereof. The foregoing requirements for Funds on deposit in the Collection Account shall either (i) remain uninvested or (ii) be exclusiveinvested in Permitted Investments, it being understood which Permitted Investments shall mature or be subject to redemption or withdrawal prior to the next occurring Remittance Date. If such funds are deposited in Permitted Investments, any and agreed that, without limiting all investment earnings from any such Permitted Investments shall be for the generality benefit of the foregoing, payments in Owner and the nature risk of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and loss resulting from such investments shall be retained borne by and be the Servicer as additional compensationrisk of the Owner.

Establishment of Collection Account; Deposits in Collection Account. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Collection Accounts, in the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess of the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer shall deposit in the Collection Account on a daily basis, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7), (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: (1) all payments on account of principal, including Principal PrepaymentsPrepayrnents, on the Mortgage Loans; (2) all payments on account of interest on the Mortgage Loans; (3) all Liquidation Proceeds; (4) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections Section 5.10 and 5.11, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law; (5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; (6) any Monthly Advances in accordance with Section 6.03; (7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; (8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii5.16(u) in connection with any losses on Permitted Investments; and; (9) any amounts required to be deposited in the Collection Account pursuant to Sections 5.13, 5.14, 7.01 or 7.02 or otherwise pursuant to the terms hereof.hereof and (10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment of the related Mortgage Loan occurs, such deposit to be made from the Servicer's own funds without reimbursement therefor. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensation.

Establishment of Collection Account; Deposits in Collection Account. The Servicer SPS shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more on behalf of, and as an agent of, the Issuer, a segregated Collection AccountsAccount, which shall be an Eligible Account, entitled “Select Portfolio Servicing, Inc., in trust for Christiana Trust, a division of Wilmington Savings Fund Society, FSB, as Trustee for the form of time deposit or demand accounts constituting Eligible Accounts, with any funds in excess benefit of the current FDIC established insurance limits invested in Permitted Investments. The creation Holders of any CSMC Trust 2014-OAK1 Mortgage Pass-Through Certificates, Collection Account shall be evidenced by a certification in the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. The Servicer Account.” SPS shall deposit in the Collection Account on a daily basis, basis within two (2) Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)identification, (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Cut-off Date: 1(i) all payments on account of principalprincipal of the Mortgage Loans, including Principal Prepayments, on Prepayments and HAMP incentive payments received by the Mortgage LoansTrust Fund as investor; 2(ii) all payments on account of interest on the Mortgage Loans; 3(iii) all Liquidation Proceeds and Insurance Proceeds; 4(iv) all Insurance Proceeds, including amounts required to be deposited Advances made by SPS pursuant to Sections 5.10 and 5.11, other than proceeds to be held in Section 10.35; (v) the Escrow Account and applied to the restoration or repair amount of the Mortgaged Properties or released to the applicable Mortgagors in accordance with the Servicer's normal servicing procedures, any Servicer Compensating Interest Payment for SPS for the related Mortgages or applicable lawPrepayment Period (such deposit shall be made from SPS’s own funds, without reimbursement therefor); 5) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable law; 6) any Monthly Advances in accordance with Section 6.03; 7(vi) any amounts required to be deposited by the Servicer SPS pursuant to Section 5.11 10.12 in connection with the deductible clause in any blanket hazard insurance policy, such . Such deposit to shall be made from the Servicer's SPS’s own funds funds, without reimbursement therefor;; and 8) (vii) any other amounts required to be deposited by the Servicer hereunder. The deposits pursuant to Section 5.16(iiclauses (ii) in connection with any losses on Permitted Investments; and 9or (iii) any amounts required to may, at SPS’s option, be deposited in the Collection Account pursuant to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereof. 10) interest on the amount of any Payoff at the related Remittance Rate to the end of the month in which prepayment net of the related Mortgage Loan occursServicing Fee. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and charges, assumption fees, servicer incentive fees received by SPS in connection with a Servicing Modification in accordance with the guidelines of HAMP and other ancillary income to the extent permitted by Section 7.0110.21, need not be deposited by SPS in the Servicer Collection Account. Any interest or earnings on funds deposited in the Collection Account by the depository institution shall accrue to the benefit of SPS and SPS shall be retained entitled to retain and withdraw such interest from the Collection Account pursuant to Section 10.06(iii). SPS shall give notice to the Securities Administrator, Trustee and the Master Servicer of the location of the Collection Account when established and prior to any change thereof in accordance with Section 10.10 hereof. Funds on deposit in the Collection Account shall either (i) remain uninvested or (ii) be invested in Eligible Investments, which Eligible Investments shall mature or be subject to redemption or withdrawal on or prior to the next occurring Servicer Remittance Date. If such funds are deposited in Eligible Investments, any and all investment earnings from any such Eligible Investments shall be for the benefit of SPS, and the risk of loss of moneys required to be remitted to the Securities Administrator for deposit in the Distribution Account resulting from such investments shall be borne by and be the Servicer as additional compensationrisk of SPS. The amount of any losses realized in the Collection Account in respect of any such Eligible Investments shall promptly be deposited by SPS from its own funds in the Collection Account.

Establishment of Collection Account; Deposits in Collection Account. (a) The Servicer Seller shall segregate and hold all funds collected and received pursuant to each the Mortgage Loan Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more accounts (collectively, the "Collection AccountsAccount"), in the form of time deposit or demand accounts constituting accounts, which may be interest bearing, titled "_________________, in trust for Wachovia Bank, National Association and successor Holders from time to time of Conventional Residential Adjustable-Rate [or Fixed Rate] First Mortgage Loans." The Collection Account shall be an Eligible AccountsAccount. Notwithstanding the foregoing, prior to remittance, such funds may be deposited in an Eligible Account that commingles such funds with any additional funds in excess held by the Seller for the benefit of the current FDIC established insurance limits invested in Permitted InvestmentsPurchaser. The creation existence of any such Collection Account shall be evidenced by (A) a certification in the form of Exhibit 5.04-1 C attached hereto, in the case of an account established with the ServicerSeller, or (B) a letter agreement in the form of Exhibit 5.04-2 D attached hereto, hereto in the case of an account held by a depository an institution other than the ServicerSeller. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. Purchaser on or prior to the Closing Date and thereafter to any Purchaser upon request. (b) The Servicer Seller shall deposit in the Collection Account on a daily basisbasis within one Business Day of receipt, within two Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)and shall retain therein, (8) and (9) of this Section 5.04) and retain therein the following payments and collections received by it or otherwise made by it the Seller subsequent to each Funding Date, or received by it prior to the Funding Cut-Off Date but allocable to a period subsequent thereto, (other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Cut-Off Date:): 1(i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; 2(ii) all payments on account of interest on the Mortgage LoansLoans adjusted, in the case of payment with respect to each Mortgage Loan, to the Pass-Through Rate applicable to such Mortgage Loan; 3) all Liquidation Proceeds; 4(iii) all Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11, other than proceeds Insurance Proceeds included in Liquidation Proceeds and other than Insurance Proceeds to be held in the Escrow Account and applied to the restoration or and repair of the Mortgaged Properties Property or released to the applicable Mortgagors Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable lawCustomary Servicing Procedures; 5(iv) all Condemnation Proceeds affecting any Mortgaged Property which are not released to a the Mortgagor in accordance with the Servicer's normal servicing procedures, the related Mortgage or applicable lawCustomary Servicing Procedures; 6(v) any Monthly Advances in accordance with Section 6.03; 7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the Servicer's own funds without reimbursement therefor; 8) any amounts required to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any amounts amount required to be deposited in the Collection Account pursuant to Sections 7.01 4.4(c), 4.11, 4.14, 5.1(b), 5.3, or 7.02 or otherwise 6.2(b); (vi) any amounts payable in connection with the repurchase of any Mortgage Loan pursuant to Section 3.3(b), and all amounts required to be deposited by the terms hereof.Seller in connection with the substitution of any Qualified Substitute Mortgage Loan or Qualified Substitute Mortgage Loans pursuant to Section 3.3(e); and 10(vii) with respect to each Principal Prepayment in full, an amount (to be paid by the Seller out of its own funds) that, when added to all amounts allocable to interest received in connection with the Principal Prepayment in full, equals one month's interest on the amount of any Payoff principal so prepaid for the month of prepayment at the related Remittance Rate to applicable Pass-Through Rate, which deposit shall be made from the end Seller's own funds, without reimbursement therefor; provided, however, that in lieu of the month amount described in which prepayment the foregoing clause of this Subsection 4.4(b)(vii), Seller may remit each Principal Prepayment in full, together with per diem interest at the related Mortgage Loan occursPass-Through Rate, within five Business Days of Seller's receipt of such Principal Prepayment in full. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicing Fee and payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 7.01, need not be deposited by the Servicer Seller in the Collection Account and shall may be retained by the Seller to the extent permitted by the Servicer as additional compensationGuide. (c) The Seller may invest, or, if the Collection Account is maintained at an institution other than the Seller, the Seller may direct such other institution to invest, whereupon such other institution shall invest, the funds on deposit from time to time in the Collection Account in Permitted Instruments, which investments shall mature not later than the Business Day next preceding the Remittance Date next following the date of such investment, except that if such Permitted Instrument is an obligation of the institution that maintains the Collection Account, then such Permitted Instrument shall mature not later than such next Remittance Date. All such investments shall be made in the name of the Seller or its nominee. All income and gain realized from any such investment shall be for the benefit of the Seller and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investment shall be deposited in the Collection Account by the Seller out if its own funds immediately, without reimbursement therefor.

Establishment of Collection Account; Deposits in Collection Account. (a) The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more a Collection AccountsAccount, in (the form of time deposit or demand accounts constituting Eligible Accounts"Collection Account"), with any funds in excess of the current FDIC established insurance limits invested in Permitted Investments. The creation of any Collection Account which shall be evidenced by a certification an Eligible Account and may be interest bearing, titled "Advanta Mortgage Corp. USA" in trust for the form of Exhibit 5.04-1 attached hereto, in the case of an account established with the Servicer, or a letter agreement in the form of Exhibit 5.04-2 attached hereto, in the case of an account held by a depository other than the Servicer. In either case, a copy of such certification or letter agreement shall be furnished to the Purchaser. Owner. (b) The Servicer shall deposit in the Collection Account on a daily basis, within two (2) Business Days after receipt (or as otherwise required pursuant to this Agreement in the case of clauses (7)receipt, (8) and (9) of this Section 5.04) and retain therein the following payments and collections received or made by it subsequent with respect to each Funding Date, or received by it prior to the Funding Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Funding Date: 1) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans: (i) all principal collections; 2(ii) all payments on account of interest on the Mortgage Loanscollections; 3(iii) all Liquidation ProceedsProceeds net of expenses; 4(iv) all proceeds received by the Servicer under any Insurance Proceeds, including amounts required to be deposited pursuant to Sections 5.10 and 5.11Policy, other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Properties Property or released to the applicable Mortgagors Borrower in accordance with the Servicer's normal servicing procedures, the related Mortgages or applicable law;Accepted Servicing Procedures; and 5(v) all Condemnation Proceeds awards or settlements in respect of condemnation proceedings or eminent domain affecting any Mortgaged Property which are not released to a Mortgagor the Borrower in accordance with Accepted Servicing Practices. (c) The Servicer may invest all or a portion of the funds in the Collection Account in Permitted Investments in the name of the Servicer's normal servicing procedures. The Servicer shall receive as Additional Servicing Compensation all income and gain realized from any such Permitted Investment. If any principal losses are incurred in respect of any Permitted Investments, Servicer shall reimburse and restore to the related Mortgage or applicable law; 6) Collection Account the amount of any Monthly Advances in accordance with Section 6.03; 7) any amounts required to be deposited by the Servicer pursuant to Section 5.11 in connection with the deductible clause in any blanket hazard insurance policy, such deposit to be made from the principal losses out of Servicer's own funds without reimbursement therefor; 8) any amounts required immediately as realized. Notwithstanding the foregoing, Servicer's right to be deposited by the Servicer pursuant to Section 5.16(ii) in connection with any losses on Permitted Investments; and 9) any amounts required to be deposited invest funds in the Collection Account pursuant shall in no way limit the rights of Servicer to Sections 7.01 or 7.02 or otherwise pursuant to the terms hereofbe compensated for its services as provided in this Agreement. 10(d) interest on the amount of any Payoff at the related Remittance Rate to the end of the month The requirements in which prepayment of the related Mortgage Loan occurs. The foregoing requirements this Section 4.4 for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption processing charges, modification charges, demand fees, to the extent permitted by Section 7.01, insufficient funds fees and reconveyance fees need not be deposited by the Servicer in the Collection Account and shall be retained by the Servicer as additional compensationAccount.