Common use of Servicer Custodial Accounts and Escrow Accounts Clause in Contracts

Servicer Custodial Accounts and Escrow Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage Loan and all collections with respect to any REO Property received by a Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any Servicer) and all other amounts to be deposited in the Servicer Custodial Account. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the Master Servicer shall enforce the obligation of each Servicer to establish and maintain one or more escrow accounts (for each Servicer, collectively, the "Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Servicer to establish an Escrow Account in violation of applicable law.

Servicer Custodial Accounts and Escrow Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage Loan and all collections with respect to any REO Property received by a Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any Servicer) and all other amounts to be deposited in the Servicer Custodial Account. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) . The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) . To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the Master Servicer shall enforce the obligation of each Servicer to establish and maintain one or more escrow accounts (for each Servicer, collectively, the "Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Servicer to establish an Escrow Account in violation of applicable law.

Servicer Custodial Accounts and Escrow Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage Loan and all collections with respect to any REO Property received by a Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any Servicer) and all other amounts to be deposited in the Servicer Custodial Account. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the Master Servicer shall enforce the obligation of each Servicer to establish and maintain one or more escrow accounts (for each Servicer, collectively, the "Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Servicer to establish an Escrow Account in violation of applicable law.

Servicer Custodial Accounts and Escrow Accounts. (a) The WF Master Servicer shall enforce the obligation of each WF Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage WF Master Serviced Loan and all collections with respect to any REO Property received by a WF Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the WF Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any WF Servicer) and all other amounts to be deposited in the WF Servicer Custodial Account. The WF Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the WF Master Servicer shall enforce the obligation of require each WF Servicer to establish and maintain one or more escrow accounts (for each WF Servicer, collectively, the "WF Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such WF Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the WF Master Servicer to compel a WF Servicer to establish an a WF Escrow Account in violation of applicable law. (b) The WMMSC Master Servicer shall cause to be established and maintained by each WMMSC Servicer under the WMMSC Master Servicer's supervision a Servicer Custodial Account and one or more escrow accounts (the "WMMSC Escrow Accounts") and shall deposit or cause to be deposited therein daily the amounts related to the WMMSC Master Serviced Loans required by the Servicing Contracts to be so deposited. The WMMSC Master Servicer or the WMMSC Servicer shall deposit in the applicable WMMSC Escrow Account on a daily basis all Escrow Payments received by it. Proceeds received with respect to individual Mortgage Loans from any title, hazard, or FHA insurance policy, VA guaranty, Primary Mortgage Insurance Policy or other insurance policy covering such WMMSC Master Serviced Loans, if required for the restoration or repair of the related Mortgaged Property, may be deposited either in the WMMSC Escrow Account or a Servicer Custodial Account. Such proceeds, if not required for the restoration or repair of the related Mortgaged Property, shall be deposited in the related Servicer Custodial Account, and shall be applied to the balances of the related WMMSC Master Serviced Loans as payments of interest and principal. If the WMMSC Master Servicer discovers that any Servicer Custodial Account or WMMSC Escrow Account maintained by a WMMSC Servicer is not maintained with an institution meeting the requirements of the first sentence of the definition of Eligible Institution, then the WMMSC Master Servicer shall cause such account to be transferred to an Eligible Institution within two Business Days of such discovery. The WMMSC Master Servicer is hereby authorized to make withdrawals from and to issue drafts against the WMMSC Servicer Custodial Accounts and the WMMSC Escrow Accounts for the purposes required or permitted by this Agreement. Each WMMSC Servicer Custodial Account and each WMMSC Escrow Account shall bear a designation clearly showing the respective interests of the applicable WMMSC Servicer, as trustee, and of the WMMSC Master Servicer, in substantially one of the following forms: With respect to the Servicer Custodial Account of a WMMSC Servicer: (i) {Servicer's Name}, in trust for Washington Mutual Mortgage Securities Corp. or (ii) {Servicer's Name}, as agent, trustee and/or bailee of principal and interest custodial account for Washington Mutual Mortgage Securities Corp. and its successors and assigns. With respect to the WMMSC Escrow Account: (i) {Servicer's Name}, in trust for Washington Mutual Mortgage Securities Corp. or (ii) {Servicer's Name}, as agent, trustee and/or bailee of taxes and insurance custodial account for Washington Mutual Mortgage Securities Corp. and its successors and assigns. The WMMSC Master Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the WMMSC Master Serviced Loans that have been collected by any WMMSC Servicer and are due to the Certificate Account pursuant to this Agreement. Funds held in the WMMSC Servicer Custodial Account and the WMMSC Escrow Account may, at the WMMSC Master Servicer's option, be invested in one or more Permitted Investments which shall in no event mature later than the Business Day prior to the related Withdrawal Date (except that if such Permitted Investments are obligations of or managed by the institution that maintains such account, then such Permitted Investment shall mature not later than such Withdrawal Date). The WMMSC Master Servicer shall bear any and all losses incurred on any investments made with such funds and shall be entitled to retain any gains realized on such investments as additional master servicing compensation.

Servicer Custodial Accounts and Escrow Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage Loan and all collections with respect to any REO Property received by a Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the Servicer's own funds (less servicing compensation as -105- permitted by the applicable Servicing Agreement in the case of any Servicer) and all other amounts to be deposited in the Servicer Custodial Account. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the Master Servicer shall enforce the obligation of each Servicer to establish and maintain one or more escrow accounts (for each Servicer, collectively, the "Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Servicer to establish an Escrow Account in violation of applicable law.

Servicer Custodial Accounts and Escrow Accounts. (a) The WF Master Servicer shall enforce the obligation of each WF Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage WF Master Serviced Loan and all collections with respect to any REO Property received by a WF Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the WF Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any WF Servicer) and all other amounts to be deposited in the Servicer Custodial Account. The WF Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the WF Master Servicer shall enforce the obligation of require each WF Servicer to establish and maintain one or more escrow accounts (for each WF Servicer, collectively, the "WF Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such WF Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the WF Master Servicer to compel a WF Servicer to establish an a WF Escrow Account in violation of applicable law. (c) The WMMSC Master Servicer shall cause to be established and maintained by each WMMSC Servicer under the WMMSC Master Servicer's supervision a Servicer Custodial Account and one or more escrow accounts (the "WMMSC Escrow Accounts") and shall deposit or cause to be deposited therein daily the amounts related to the WMMSC Master Serviced Loans required by the Servicing Contracts to be so deposited. The WMMSC Master Servicer or the WMMSC Servicer shall deposit in the applicable WMMSC Escrow Account on a daily basis all Escrow Payments received by it. Proceeds received with respect to individual Mortgage Loans from any title, hazard, or FHA insurance policy, VA guaranty, Primary Mortgage Insurance Policy or other insurance policy covering such WMMSC Master Serviced Loans, if required for the restoration or repair of the related Mortgaged Property, may be deposited either in the WMMSC Escrow Account or a Servicer Custodial Account. Such proceeds, if not required for the restoration or repair of the related Mortgaged Property, shall be deposited in the related Servicer Custodial Account, and shall be applied to the balances of the related WMMSC Master Serviced Loans as payments of interest and principal. If the WMMSC Master Servicer discovers that any Servicer Custodial Account or WMMSC Escrow Account maintained by a WMMSC Servicer is not maintained with an institution meeting the requirements of the first sentence of the definition of Eligible Institution, then the WMMSC Master Servicer shall cause such account to be transferred to an Eligible Institution within two Business Days of such discovery. The WMMSC Master Servicer is hereby authorized to make withdrawals from and to issue drafts against the Servicer Custodial Accounts of a WMMSC Servicer and the WMMSC Escrow Accounts for the purposes required or permitted by this Agreement. Each Servicer Custodial Account of a WMMSC Servicer and each WMMSC Escrow Account shall bear a designation clearly showing the respective interests of the applicable WMMSC Servicer, as trustee, and of the WMMSC Master Servicer, in substantially one of the following forms: With respect to the Servicer Custodial Account of a WMMSC Servicer: (i) {Servicer's Name}, in trust for Washington Mutual Mortgage Securities Corp. or (ii) {Servicer's Name}, as agent, trustee and/or bailee of principal and interest custodial account for Washington Mutual Mortgage Securities Corp. and its successors and assigns. With respect to the WMMSC Escrow Account: (i) {Servicer's Name}, in trust for Washington Mutual Mortgage Securities Corp. or (ii) {Servicer's Name}, as agent, trustee and/or bailee of taxes and insurance custodial account for Washington Mutual Mortgage Securities Corp. and its successors and assigns. The WMMSC Master Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the WMMSC Master Serviced Loans that have been collected by any WMMSC Servicer and are due to the Certificate Account pursuant to this Agreement. Funds held in a Servicer Custodial Account of a WMMSC Servicer and the WMMSC Escrow Account may, at the WMMSC Master Servicer's option, be invested in one or more Permitted Investments which shall in no event mature later than the Business Day prior to the related Withdrawal Date (except that if such Permitted Investments are obligations of or managed by the institution that maintains such account, then such Permitted Investment shall mature not later than such Withdrawal Date). The WMMSC Master Servicer shall bear any and all losses incurred on any investments made with such funds and shall be entitled to retain any gains realized on such investments as additional master servicing compensation.

Servicer Custodial Accounts and Escrow Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage Loan and all collections with respect to any REO Property received by a Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the Servicer's ’s own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any Servicer) and all other amounts to be deposited in the Servicer Custodial Account. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's ’s payment, will equal the full monthly payment due under the related Mortgage Note. (c) To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the Master Servicer shall enforce the obligation of each Servicer to establish and maintain one or more escrow accounts (for each Servicer, collectively, the "“Escrow Account"”) and deposit and retain therein all collections from the Mortgagors (or Advances by such Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Servicer to establish an Escrow Account in violation of applicable law.

Servicer Custodial Accounts and Escrow Accounts. (a) The WF Master Servicer shall enforce the obligation of each WF Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage WF Master Serviced Loan and all collections with respect to any REO Property received by a WF Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the WF Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any WF Servicer) and all other amounts to be deposited in the WF Servicer Custodial Account. The WF Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) . The WF Master Servicer shall also enforce the obligation of each WF Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The WF Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the WF Master Servicer shall enforce the obligation of each WF Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) . To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the WF Master Servicer shall enforce the obligation of require each WF Servicer to establish and maintain one or more escrow accounts (for each WF Servicer, collectively, the "WF Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such WF Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the WF Master Servicer to compel a WF Servicer to establish an a WF Escrow Account in violation of applicable law. (b) The WMMSC Master Servicer shall cause to be established and maintained by each WMMSC Servicer under the WMMSC Master Servicer's supervision a Servicer Custodial Account and one or more escrow accounts (the "WMMSC Escrow Accounts") and shall deposit or cause to be deposited therein daily the amounts related to the WMMSC Master Serviced Loans required by the Servicing Contracts to be so deposited. The WMMSC Master Servicer or the WMMSC Servicer shall deposit in the applicable WMMSC Escrow Account on a daily basis all Escrow Payments received by it. Proceeds received with respect to individual Mortgage Loans from any title, hazard, or FHA insurance policy, VA guaranty, Primary Mortgage Insurance Policy or other insurance policy covering such WMMSC Master Serviced Loans, if required for the restoration or repair of the related Mortgaged Property, may be deposited either in the WMMSC Escrow Account or a Servicer Custodial Account. Such proceeds, if not required for the restoration or repair of the related Mortgaged Property, shall be deposited in the related Servicer Custodial Account, and shall be applied to the balances of the related WMMSC Master Serviced Loans as payments of interest and principal. If the WMMSC Master Servicer discovers that any Servicer Custodial Account or WMMSC Escrow Account maintained by a WMMSC Servicer is not maintained with an institution meeting the requirements of the first sentence of the definition of Eligible Institution, then the WMMSC Master Servicer shall cause such account to be transferred to an Eligible Institution within two Business Days of such discovery. The WMMSC Master Servicer is hereby authorized to make withdrawals from and to issue drafts against the WMMSC Servicer Custodial Accounts and the WMMSC Escrow Accounts for the purposes required or permitted by this Agreement. Each WMMSC Servicer Custodial Account and each WMMSC Escrow Account shall bear a designation clearly showing the respective interests of the applicable WMMSC Servicer, as trustee, and of the WMMSC Master Servicer, in substantially one of the following forms: With respect to the Servicer Custodial Account of a WMMSC Servicer: (i) {Servicer's Name}, in trust for Washington Mutual Mortgage Securities Corp. or (ii) {Servicer's Name}, as agent, trustee and/or bailee of principal and interest custodial account for Washington Mutual Mortgage Securities Corp. and its successors and assigns. With respect to the WMMSC Escrow Account: (i) {Servicer's Name}, in trust for Washington Mutual Mortgage Securities Corp. or (ii) {Servicer's Name}, as agent, trustee and/or bailee of taxes and insurance custodial account for Washington Mutual Mortgage Securities Corp. and its successors and assigns. The WMMSC Master Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the WMMSC Master Serviced Loans that have been collected by any WMMSC Servicer and are due to the Certificate Account pursuant to this Agreement. Funds held in the WMMSC Servicer Custodial Account and the WMMSC Escrow Account may, at the WMMSC Master Servicer's option, be invested in one or more Permitted Investments which shall in no event mature later than the Business Day prior to the related Withdrawal Date (except that if such Permitted Investments are obligations of or managed by the institution that maintains such account, then such Permitted Investment shall mature not later than such Withdrawal Date). The WMMSC Master Servicer shall bear any and all losses incurred on any investments made with such funds and shall be entitled to retain any gains realized on such investments as additional master servicing compensation.

Servicer Custodial Accounts and Escrow Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Servicer Custodial Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a loan by loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage Loan and all collections with respect to any REO Property received by a Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, Recoveries and Advances made from the Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any Servicer) and all other amounts to be deposited in the Servicer Custodial Account. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Servicer Custodial Account for purposes required or permitted by this Agreement. (b) The Master Servicer shall also enforce the obligation of each Servicer to establish and maintain a Buy-Down Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts any Buy-Down Funds shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt thereof. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Buy-Down Account for purposes required or permitted by this Agreement. In addition, the Master Servicer shall enforce the obligation of each Servicer to withdraw from the Buy-Down Account and deposit in immediately available funds in the Servicer Custodial Account an amount which, when added to such Mortgagor's payment, will equal the full monthly payment due under the related Mortgage Note. (c) . To the extent required by the related Servicing Agreement and by the related Mortgage Note and not violative of current law, the Master Servicer shall enforce the obligation of each Servicer to establish and maintain one or more escrow accounts (for each Servicer, collectively, the "Escrow Account") and deposit and retain therein all collections from the Mortgagors (or Advances by such Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Servicer to establish an Escrow Account in violation of applicable law.