Common use of The Custodial Accounts for P&I and Buydown Fund Accounts Clause in Contracts

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and (v) all Repurchase Proceeds. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from a Seller in respect of Prepayment Premiums pursuant to Section 2(d) of the applicable Term Sheet. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the WMB Loans (or, in the case of clause (v) below, with respect to all of the Mortgage Loans:): (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the WMB Servicing Fees (to the extent not applied to pay WMB Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the WMB Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “WMB Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage WMB Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The aggregate amount deposited in a Custodial Account for P&I on any date pursuant to this Section 3.02 may be net of any amounts permitted to be withdrawn by the Servicer from such account on such date pursuant to Section 3.05. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and are due to the Certificate Account pursuant to Section 3.04 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other investments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The aggregate amount deposited in a Custodial Account for P&I on any date pursuant to this Section 3.02 may be net of any amounts permitted to be withdrawn by the Servicer from such account on such date pursuant to Section 3.05. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and that are due to the Certificate Account pursuant to Section 3.04 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other investments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and (v) all Repurchase Proceeds. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s 's option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “"Servicing Fee.” " In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the WMB Loans (or, in the case of clause (v) below, with respect to all of the Mortgage Loans:): (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the WMB Servicing Fees (to the extent not applied to pay WMB Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the WMB Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “WMB Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage WMB Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts (i) relating to the WMB Loans that have been collected by the Servicer or (ii) relating to the Countrywide Loans that have been deposited by Countrywide in the Investment Account, and that are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans:): (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from a Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from the Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The aggregate amount deposited in a Custodial Account for P&I on any date pursuant to this Section 3.02 may be net of any amounts permitted to be withdrawn by the Servicer from such account on such date pursuant to Section 3.05. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and (v) all Repurchase Proceeds. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The aggregate amount deposited in a Custodial Account for P&I on any date pursuant to this Section 3.02 may be net of any amounts permitted to be withdrawn by the Servicer from such account on such date pursuant to Section 3.05. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and that are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other investments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and (v) all Repurchase Proceeds. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings.

The Custodial Accounts for P&I and Buydown Fund Accounts. The Servicer shall establish and maintain the Custodial Accounts for P&I and shall deposit or cause to be deposited therein within 48 hours of receipt the following amounts received or advanced by the Servicer with respect to the Mortgage Loans: (i) all scheduled payments of principal; (ii) all scheduled payments of interest, net of the Servicing Fees (to the extent not applied to pay Compensating Interest); (iii) all Curtailments and Payoffs; (iv) all Insurance Proceeds (except Insurance Proceeds required for the restoration or repair of the related Mortgaged Property, which shall be retained by the Servicer in an escrow account established for such purpose and maintained in an Eligible Institution, and which may, at the Servicer’s option, be invested in Eligible Investments), Liquidation Proceeds, Excess Liquidation Proceeds and Subsequent Recoveries; and; (v) all Repurchase Proceeds; and (vi) (a) all Prepayment Premiums collected on the Mortgage Loans, (b) all payments made by the Servicer in respect of Prepayment Premiums pursuant to Section 3.20 and (c) all payments received by the Servicer from a Seller in respect of Prepayment Premiums pursuant to Section 3.4 of the Mortgage Loan Purchase Agreement. The Servicer shall not be required to deposit or cause to be deposited in the Custodial Accounts for P&I the additional servicing compensation described in the second sentence of the definition of “Servicing Fee.” In the event that Buydown Funds have been provided with respect to any Mortgage Loan, the Servicer shall deposit such Buydown Funds in Buydown Fund Accounts established and maintained by the Servicer. The Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Buydown Fund Accounts for the purposes required or permitted by this Agreement. The Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by the Servicer and are due to the Certificate Account pursuant to Section 4.01 of this Agreement. Funds held in the Custodial Account for P&I may, at the Servicer’s option, be invested in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the Distribution Date on which such funds are required to be distributed to pursuant to Article IV (except if such Eligible Investments are obligations of the institution acting as the Trustee, in which case such Eligible Investments may mature on such Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings.