PAYMENTS TO INVESTOR. a. Servicer shall deposit all funds received from Mortgagor in repayment of note(s) owned by Investor in a segregated trust or custodial demand deposit account in a state or national bank, the deposits of which are insured by the Federal Deposit Insurance Corporation, or other acceptable State or Federal agency. Servicer shall hold such account in a name that evidences the trust nature of the account. Servicer shall maintain detailed records to show the respective interests of each individual mortgage note(s) in the account.
Appears in 7 contracts
Samples: Note Servicing Agreement (Bridgewell Preferred Income, LP), Note Servicing Agreement (111 Crowdfunding LLC), Note Servicing Agreement (Bridgewell Preferred Income Fund, LP)
