Common use of Investment of Funds in the Collection Account Clause in Contracts

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant to this Section 3.12 shall be in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant ) to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments specified in such instruction bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust or the Trust Administrator (in its capacity as such), ) on behalf of the Trust or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “"Investment Account”"). All investments pursuant , to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than . Funds in the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to Distribution Account may be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliateheld uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator shall Trustee may be entitled to sole possession or control (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereon) over each such investment, and any certificate certificate, securities entitlement or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Servicer shall: (i) consistent with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment may otherwise mature hereunder in an amount equal to the lesser of (A) all amounts then payable thereunder and (B) the amount required to be withdrawn on such date; and (ii) demand payment of all amounts due thereunder promptly upon determination by a Responsible Officer of the Trustee that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit in the Investment Account. (b) All income and gain realized from the investment of funds deposited in the Collection Account and any REO Account held by or on behalf of the Servicer shall be for the benefit of the Servicer and shall be subject to its withdrawal in accordance with Section 3.11 or Section 3.23 hereof, as applicable. The Servicer shall deposit in the Collection Account or any REO Account, as applicable, the amount of any loss of principal incurred in respect of any such Permitted Investment made with funds in such accounts immediately upon realization of such loss. (c) All benefit derived from funds deposited in the Distribution Account shall be for the benefit of the Trustee. (d) Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment, the Trustee may and, subject to Section 8.01 and Section 8.02(a)(v), upon the request of the Holders of Certificates representing more than 50% of the Voting Rights allocated to any Class of Certificates, shall take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings.

Investment of Funds in the Collection Account. THE EXPENSE ACCOUNT AND THE DISTRIBUTION ACCOUNT. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “"Investment Account”"). All investments pursuant to , and the Master Servicer may direct any depository institution maintaining the Distribution Account and the Expense Account (each, for purposes of this Section 3.12 shall be 3.12, an "Investment Account"), to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent for the Trustee, or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account, the Distribution Account and REO the Expense Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant ) to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments specified in such instruction bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account, the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Trustee shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant ) to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments specified in such instruction bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), ) or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account. the REO Account, the Lock-Box Accounts, the Cash Collateral Accounts, the Interest Reserve Account and the Reserve Accounts. (a) The Servicer (or with respect to any REO Account, the Special Servicer, or with respect to the Interest Reserve Account, Nomura Asset Capital Corporation) may direct any depository institution maintaining the Collection Account, any Borrower Accounts (subject to the second succeeding sentence), the Interest Reserve Account and any REO Account (each, for purposes of this Section 3.07, an "Investment Account"), to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant to this Section 3.12 shall be Account in one or more Permitted Investments bearing that bear interest or are sold at a discount, and maturingthat mature, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account Investment Account pursuant to this Agreement. Any direction by the Servicer, if a Person other than the Trust Administrator is Special Servicer or by Nomura Asset Capital Corporation, to invest funds on deposit in an Investment Account shall be in writing and shall certify that the obligor thereon or if such requested investment is managed a Permitted Investment which matures at or advised by a Person other than prior to the Trust Administrator time required hereby or an Affiliate is payable on demand. In the case of any Escrow Account, Lock-Box Account, Cash Collateral Account or Reserve Account (the "Borrower Accounts"), the Servicer shall act upon the written request of the Trust Administrator, and (ii) no later than related Borrower or Manager to the date on which such funds are extent the Servicer is required to do so under the terms of the respective Mortgage Loan or related documents, provided that in the absence of appropriate written instructions from the related Borrower or Manager meeting the requirements of this Section 3.07, the Servicer shall have no obligation to, but will be withdrawn from entitled to, direct the investment of funds in such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliateaccounts in Permitted Investments. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to have sole possession control (except with respect to investment direction of funds held which shall be in the Collection Account and control of the Servicer (or Nomura Asset Capital Corporation, with respect to the Interest Reserve Account, or the Special Servicer, with respect to any REO Account and any income and gain realized thereonAccounts), as an independent contractor to the Trust Fund) over each such investment, investment and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agentagent (which shall initially be the Servicer), together with any document of transfer transfer, if any, necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. The Trustee shall have no responsibility or liability with respect to the investment directions of the Servicer, the Special Servicer, Nomura Asset Capital Corporation, any Borrower or Manager or any losses resulting therefrom, whether from Permitted Investments or otherwise. The Servicer shall have no responsibility or liability with respect to the investment directions of Nomura Asset Capital Corporation, the Special Servicer, any Borrower or Manager or any losses resulting therefrom, whether from Permitted Investments or otherwise. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Servicer (or the Special Servicer or Nomura Asset Capital Corporation, as applicable) shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account or Accounts (for purposes of this Section 2.25, each an "Investment Account"), to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant to this Section 3.12 shall be Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee or the Servicer, as applicable (in its capacity as such), ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereon) over each such investmentinvestment and the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. (a) All income and gain realized from the investment of funds in the Collection Account shall be for the benefit of the Servicer. In the event amounts on The Servicer shall deposit in an Investment the Collection Account are at the amount of any time invested loss incurred in a respect of any such Permitted Investment payable on demandmade with funds in such account immediately upon realization of such loss. (b) Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment, the Trust Administrator shall:Trustee may and, upon the request of the Holders of Certificates representing more than 50% of the Voting Rights allocated to any Class of Certificates, shall take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. The Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon).

Investment of Funds in the Collection Account. (a) The Servicer Seller may direct any depository institution maintaining the Collection Account and REO Custodial Account to invest the funds on deposit in such accounts or to hold such funds uninvested account, (each such account, for the purposes of this Section 3.1211.33, an “Investment Account”). All investments pursuant to this Section 3.12 11.33 shall be in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) demand no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any All income and gain realized thereonfrom the investment of funds deposited in the Custodial Account shall be for the benefit of the Servicer and shall be subject to its withdrawal in accordance with Section 11.04. The Servicer shall deposit in the Custodial Account the amount of any loss incurred in respect of any such Permitted Investment immediately upon realization of such loss. I, [identify certifying individual], certify to the [Initial Purchaser], [Mortgage Loan Seller] [Depositor], [Trustee], [Securities Administrator] and [Master Servicer] that: (i) over each Based on my knowledge, the information in the Annual Statement of Compliance, the Annual Independent Public Accountant’s Servicing Report and all servicing reports, officer’s certificates and other information relating to the servicing of the Mortgage Loans taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such investmentstatements were made, not misleading as of the date of this certification; (ii) The servicing information required to be provided by the Seller under this Servicing Agreement has been provided to the Initial Purchaser and the Master Servicer; (iii) I am is responsible for reviewing the activities performed by the Seller under the Agreement and based upon the review required by the Agreement, and any certificate except as disclosed in the Annual Statement of Compliance or other instrument evidencing any such investment shall be delivered directly the Annual Independent Public Accountant’s Servicing Report, the Seller has, as of the date of this certification fulfilled its obligations under the Agreement; and (iv) Such officer has disclosed to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment Initial Purchaser and the Master Servicer all significant deficiencies relating to the Trust Administrator Seller’s compliance with the minimum servicing standards in accordance with a review conducted in compliance with the Uniform Single Attestation Program for Mortgage Bankers or its nomineesimilar standard as set forth in the Servicing Agreement. In THIS ASSIGNMENT AND RECOGNITION AGREEMENT, dated ____________, 200__, (“Agreement”) among Citigroup Global Markets Realty Corp. (“Assignor”), ________________________ (“Assignee”) and _____________ (the event amounts on deposit “Company”): For and in an Investment Account consideration of the sum of TEN DOLLARS ($10.00) and other valuable consideration the receipt and sufficiency of which hereby are at any time invested in a Permitted Investment payable on demandacknowledged, and of the mutual covenants herein contained, the Trust Administrator shallparties hereto hereby agree as follows:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such accounteach, for the purposes of this Section 3.12, an “"Investment Account”"). All investments pursuant , to this Section 3.12 shall be invest the funds in each Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if unless such investment is funds are invested in Permitted Investments managed or advised by a Person other than the Trust Administrator Trustee or an Affiliate one of the Trust Administratorits Affiliates, and (ii) no later than in which case such Permitted Investments may mature on the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if . Funds in the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any AffiliateDistribution Account may be held uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator shall Trustee may be entitled to sole possession or control (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereon) over each such investment, and any certificate certificate, securities entitlement or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Servicer shall: (i) consistent with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment may otherwise mature hereunder in an amount equal to the lesser of (A) all amounts then payable thereunder and (B) the amount required to be withdrawn on such date; and (ii) demand payment of all amounts due thereunder promptly upon determination by a Responsible Officer of the Trustee that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit in the Investment Account. (b) All income and gain realized from the investment of funds deposited in the Collection Account and any REO Account held by or on behalf of the Servicer shall be for the benefit of the Servicer and shall be subject to its withdrawal in accordance with Section 3.11 or Section 3.23 hereof, as applicable. The Servicer shall deposit in the Collection Account or any REO Account, as applicable, the amount of any loss of principal incurred in respect of any such Permitted Investment made with funds in such accounts immediately upon realization of such loss. (c) All benefit derived from funds deposited in the Distribution Account shall be for the benefit of the Trustee. (d) Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment, the Trustee may and, subject to Section 8.01 and Section 8.02(e), upon the request of the Holders of Certificates representing more than 50% of the Voting Rights allocated to any Class of Certificates, shall take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings.

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account or Accounts (for purposes of this Section 2.25, each an "Investment Account"), to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant to this Section 3.12 shall be Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment the Distribution Account shall be made in the name of the Trust Administrator Trustee or the Servicer, as applicable (in its capacity as such), ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereon) over each such investmentinvestment and the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. (b) All income and gain realized from the investment of funds in the Collection Account shall be for the benefit of the Servicer. In the event amounts on The Servicer shall deposit in an Investment the Collection Account are at the amount of any time invested loss incurred in a respect of any such Permitted Investment payable on demandmade with funds in such account immediately upon realization of such loss. (c) Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment, the Trust Administrator shall:Trustee may and, upon the request of the Holders of Certificates representing more than 50% of the Voting Rights allocated to any Class of Certificates, shall take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. The Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon).

Investment of Funds in the Collection Account. THE EXPENSE ACCOUNT AND THE DISTRIBUTION ACCOUNT. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and REO the Expense Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such accounteach, for the purposes of this Section 3.12, an “"Investment Account”"). All investments pursuant , to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereonthe Expense Account) over each such investmentinvestment and the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shallTrustee shall at the direction of the Master Servicer:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and any REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such accounteach, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant ) to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and or any REO Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “"Investment Account”). All investments pursuant ") to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments specified in such instruction bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatethereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust or the Trust Administrator (in its capacity as such), ) on behalf of the Trust or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining At the Issuer’s direction, the Collection Account and REO Account to Bank shall invest the funds on deposit held in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant to this Section 3.12 shall be Collection Account in one or more Permitted Investments selected by the Issuer bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no not later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliatenext succeeding Remittance Date. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment the Collection Account shall be made in the name of the Trust Administrator Issuer for the benefit of the Indenture Trustee (in its capacity as such). The Issuer shall promptly deliver to the Indenture Trustee, and the Indenture Trustee shall maintain continuous possession of, any Permitted Investment that is either (i) a “certificated security,” as such term is defined in the Uniform Commercial Code, or (ii) other property in which a secured party may perfect its security interest by possession under the name of a nominee of the Trust AdministratorUniform Commercial Code or any other applicable law. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event If amounts on deposit in an Investment the Collection Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Issuer shall: (1) consistent with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment may otherwise mature hereunder in an amount equal to the lesser of (A) all amounts then payable thereunder and (B) the amount required to be withdrawn on such date; and (2) demand payment of all amounts due thereunder promptly upon determination by the Issuer that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit in the Collection Account. (b) In the event that the Issuer elects to remove a Mortgage Loan from the Collateral Pool under Section 2.04 or Section 11.02, amounts deposited in the Release Account shall be applied by the Issuer (or the Indenture Trustee based solely on the instructions of the Issuer), first, to pay the expenses related to such release and, second, either to acquire a Qualified Substitute Loan or Qualified Substitute Loans within twelve (12) months following the removal of such Released Loan. Any amounts remaining in the Release Account following the twelve (12) month period from the related Release shall be transferred as Unscheduled Proceeds into the Collection Account and applied as Unscheduled Principal Payments on the following Payment Date. During an Early Amortization Period, all amounts in the Release Account shall be deposited as Unscheduled Proceeds into the Collection Account and will be included in the Available Amount on the following Payment Date to be applied as Unscheduled Principal Payments. (a) Whether or not the Issuer directs the investment of funds in the Collection Account, interest and investment income realized on funds deposited therein, to the extent of the Net Investment Earnings, if any, for the Collection Account for each Collection Period, shall be added to the Available Amount for such Collection Period. (b) Except as otherwise expressly provided in this Indenture, if any default occurs in the making of a payment due under any Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment, the Indenture Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. (c) Notwithstanding the investment of funds held in the Collection Account, for purposes of the calculations hereunder, including the calculation of the Available Amount, the amounts so invested shall be deemed to remain on deposit in the Collection Account. (d) Any actual losses sustained on the liquidation of a Permitted Investment in the Collection Account shall be deposited by the Issuer immediately, but in no event later than one Business Day following such liquidation, into the Collection Account.

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and any REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such accounteach, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant ) to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator Trustee or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and or any REO Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account. the Impositions and Insurance Reserve Sub-Account, Other Reserve Accounts and the REO Account. (a) The Servicer may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account and the REO Account Account, to invest invest, or if it is such a depository institution, it may itself invest, the funds on deposit in such accounts or to hold such funds uninvested held therein (each such account, for the purposes of this Section 3.123.06, an “Investment Account”). All investments pursuant to this Section 3.12 shall be ) in (but only in) one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than ; provided that the Trust Administrator is funds in any Investment Account shall remain uninvested unless and until the obligor thereon or if such Servicer gives timely investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to be withdrawn from such account instructions with respect thereto pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any AffiliateSection 3.06. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such). The Servicer, or in the name of a nominee acting on behalf of the Trust Administrator. The Trust Administrator Trustee, shall (and Trustee hereby designates the Servicer as the Person that shall) (i) be entitled to sole possession the “entitlement holder” of any Permitted Investment that is a “security entitlement” and (except with respect to investment direction ii) maintain “control” of funds held any Permitted Investment that is either a “certificated security” or an “uncertificated security.” For purposes of this Section 3.06(a), the terms “entitlement holder”, “security entitlement”, “control”, “certificated security” and “uncertificated security” shall have the meanings given such terms in Revised Article 8 (1994 Revision) of the Collection Account and REO Account and any income and gain realized thereon) over each such investmentUCC, and “control” of any certificate or other instrument evidencing any such investment Permitted Investment by the Servicer shall be delivered directly to constitute “control” by a Person designated by, and acting on behalf of, the Trust Administrator or its agent, together with any document Trustee for purposes of transfer necessary to transfer title to such investment to Revised Article 8 (1994 Revision) of the Trust Administrator or its nomineeUCC. In the event If amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Servicer shall: (i) consistent with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment may otherwise mature hereunder in an amount at least equal to the lesser of (1) all amounts then payable thereunder and (2) the amount required to be withdrawn on such date; and (ii) demand payment of all amounts due thereunder promptly upon determination by the Servicer that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit in the Investment Account. Any amounts on deposit in the Central Account, the Impositions and Insurance Reserve Sub-Account or any other Reserve Account shall be invested by the Borrowers as permitted under the Mortgage Loan Documents. (b) Whether or not the Servicer directs the investment of funds in the Collection Account, interest and investment income realized on funds deposited therein, to the extent of the Net Investment Earnings, if any, for such Investment Account for each Security Collection Period, shall be for the sole and exclusive benefit of the Servicer and shall be subject to its withdrawal in accordance with Section 3.05(a). (c) If the Servicer directs the investment of funds in the REO Account, interest and investment income realized on funds deposited therein, to the extent of the Net Investment Earnings, if any, for each Security Collection Period, shall be for the sole and exclusive benefit of the Servicer and shall be subject to its withdrawal in accordance with Section 3.16(b). If any loss shall be incurred in respect of any Permitted Investment on deposit in any Investment Account (other than a loss of what would otherwise have constituted investment earnings), the Servicer shall promptly deposit therein from its own funds, without right of reimbursement, no later than the Servicer Remittance Date occurring on or after the date on which such loss was incurred, the amount of the Net Investment Loss, if any, in respect of such Investment Account since the prior Servicer Remittance Date. Notwithstanding any of the foregoing provisions of this Section 3.06, no party shall be required under this Agreement to deposit any loss on a deposit of funds in an Investment Account if such loss is incurred solely as a result of the insolvency of the federal or state chartered depository institution or trust company with which such deposit was maintained, so long as such depository institution or trust company (i) was not an Affiliate of such party and (ii) satisfied the conditions set forth in the definition of Eligible Account at the time such deposit was made and also as of a date no earlier than 30 days prior to the insolvency. (d) Except as otherwise expressly provided in this Agreement, if any default occurs in the making of any payment due under any Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment, and the Servicer has not taken such action, the Trustee may, and, subject to Section 8.02, upon the request of Holders of Securities entitled to not less than 25% of the Voting Rights allocated to any Class of Securities, the Trustee shall, take such action to enforce such payment or performance, including the institution and prosecution of appropriate legal proceedings. (e) Amounts on deposit in the Distribution Account shall remain uninvested. (f) Notwithstanding the investment of funds in any Permitted Investments, for purposes of the calculations hereunder, including the calculation of the Available Trust Funds and the Servicer Remittance Amount, the amounts so invested shall be deemed to remain on deposit in the applicable Investment Account.

Investment of Funds in the Collection Account. AND THE PAYMENT ------------------------------------------------------------- ACCOUNT. ------- (a) The Master Servicer may direct any depository institution maintaining the Collection Account and or any REO Account to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “"Investment Account”). All investments pursuant ") to this Section 3.12 shall be invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Servicing Agreement, if a Person other than the Trust Administrator Indenture Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Servicing Agreement, if the Trust Administrator Indenture Trustee is the obligor thereon or if such investment is managed or advised by thereon. Amounts in the Trust Administrator or any AffiliatePayment Account shall be held uninvested unless directed otherwise pursuant to Section 3.10(d) of the Servicing Agreement. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), or in Indenture Trustee for the name of a nominee benefit of the Trust AdministratorNoteholders. The Trust Administrator Indenture Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Indenture Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Indenture Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator party with investment discretion over such Investment Account shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining Funds credited to the Collection Account may (unless otherwise stated in this Indenture) be invested and REO Account to invest reinvested by the funds on deposit in such accounts or to hold such funds uninvested (each such account, for Indenture Trustee at the purposes direction of this Section 3.12, an “Investment Account”). All investments pursuant to this Section 3.12 shall be the Issuer in one or more Permitted Eligible Investments. The Issuer may authorize the Indenture Trustee to make specific investments pursuant to instructions, in such amounts as the Issuer will specify. Notwithstanding the foregoing, funds held by the Indenture Trustee in the Collection Account will be invested at the direction of the Issuer in Eligible Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) that will mature in each case no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administrator, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon or if such investment is managed or advised by the Trust Administrator or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account are scheduled to be transferred or distributed by the Indenture Trustee pursuant to this Indenture (or as necessary to provide for timely payment of principal or interest on the applicable Payment Date). The Indenture Trustee shall not have any investment discretion with respect to the Collection Account or any funds therein and REO shall have no liability with respect to the Eligible Investments selected by the Issuer or any losses resulting therein. (b) All funds from time to time credited to the Collection Account pursuant to this Indenture and all investments made with such funds, if any, will be held by the Indenture Trustee in the Collection Account as part of the Collateral as herein provided, subject to withdrawal by the Indenture Trustee for the purposes specified herein. (c) Funds and other property in the Collection Account will not be commingled with any income other funds or property of the Issuer or the Indenture Trustee. (d) On the applicable Reporting Date, all interest and gain realized thereon) over each earnings (net of losses and investment expenses), if any, on funds credited to the Collection Account will be applied as specified herein. For purposes of determining the availability of funds or the balance in the Collection Account for any reason under this Indenture (other than for the distribution of funds in accordance with Section 5.04), investment earnings on such investmentfunds, and any certificate or other instrument evidencing any such investment if any, shall be delivered directly deemed not to be available or on deposit. Subject to Section 8.01(d), the Indenture Trustee will not in any way be held liable by reason of any insufficiency in Collection Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trust Administrator or Indenture Trustee’s own failure to make payments on such Eligible Investments issued by the Indenture Trustee, in its agentcommercial capacity, together in accordance with any document of transfer necessary to transfer title to such investment their terms. (e) The Issuer hereby directs that funds credited to the Trust Administrator Collection Account will be invested and reinvested by the Indenture Trustee at the direction of the Issuer, to the fullest extent practicable, in investments described in clause (b) of “Eligible Investments,” upon the occurrence of any of the following events: (i) the Issuer will have failed to give investment directions to the Indenture Trustee; or its nominee. In the event amounts on deposit in EAST\146409251.8147895167.4 (ii) an Investment Account are at any time invested in a Permitted Investment Event of Default will have occurred and is continuing but no Notes have been declared due and payable on demand, the Trust Administrator shall:pursuant to Section 7.02.

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and any REO Account to invest the funds on deposit in such accounts and the Trustee may invest the funds on deposit in the Distribution Account or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “"Investment Account”"). All investments pursuant to this Section 3.12 shall be in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator Trustee or an Affiliate of the Trust AdministratorTrustee, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by the Trust Administrator Trustee or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and any REO Account Account, and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Trustee shall:

Investment of Funds in the Collection Account. (a) The Servicer may direct any depository institution maintaining the Collection Account and REO the Trustee may direct any depository institution maintaining the Distribution Account (for purposes of this Section 3.23, each an "Investment Account"), to invest the funds on deposit in such accounts or to hold such funds uninvested (each such account, for the purposes of this Section 3.12, an “Investment Account”). All investments pursuant to this Section 3.12 shall be Account in one or more Permitted Eligible Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trust Administrator or an Affiliate of the Trust Administratorthereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon or if such investment is managed or advised by the Trust Administrator Trustee or any Affiliatean Affiliate of the Trustee. All such Permitted Eligible Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee or the Servicer, as applicable (in its capacity as such), ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and REO Account and any income and gain realized thereonAccount) over each such investmentinvestment and the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted an Eligible Investment payable on demand, the Trust Administrator shallTrustee shall at the direction of the Servicer: