Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. (a) The Master Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Mortgage Note for a period not greater than 180 days; provided, however, that the Master Servicer cannot extend the maturity of any such Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date. In the event of any such arrangement, the Master Servicer shall make Advances on the related Mortgage Loan in accordance with the provisions of Section 4.1 during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Master Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.
(b) The Master Servicer shall establish and maintain the Certificate Account. The Certificate Account shall consist of two separate subaccounts, each of which shall relate to a particular Mortgage Pool. No later than two Business Days after receipt, except as otherwise specifically provided herein, the Master Servicer shall deposit or shall cause to be deposited into the applicable subaccount of the Certificate Account the following payments and collections remitted by Subservicers or received by it in respect of the Mortgage Loans in the related Mortgage Pool subsequent to the Cut-off Date (other than in respect of principal and interest due on such Mortgage Loans on or before the Cut-off Date) and the following amounts required to be deposited hereunder:
(i) all payments on account of principal on the Mortgage Loans in the related Mortgage Pool, inc...
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Supplemental Loan Account; Capitalized Interest Account; Corridor Contract Reserve Fund.........................................................................III-3 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts..................III-7 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans.........III-8 SECTION 3.08. Permitted Withdrawals from the Certificate Account, the Rounding Account; Corridor Contract Reserve Fund and the Distribution Account..........................III-8 SECTION 3.09. Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies..........III-10 SECTION 3.10. Enforcement of Due-on-Sale Clauses; Assumption Agreements...........................III-12 SECTION 3.11. Realization Upon Defaulted Mortgage Loans; Repurchase of Certain Mortgage Loans.....III-13 SECTION 3.12. Trustee to Cooperate; Release of Mortgage Files.....................................III-16 SECTION 3.13. Documents, Records and Funds in Possession of Master Servicer to be Held for the Trustee.............................................................................III-16 SECTION 3.14. Servicing Compensation..............................................................III-17 SECTION 3.15. Access to Certain Documentation.....................................................III-17 SECTION 3.16. Annual Statement as to Compliance...................................................III-17 SECTION 3.17. Annual Independent Public Accountants' Servicing Statement; Financial Statements....III-18 SECTION 3.18. Errors and Omissions Insurance; Fidelity Bonds......................................III-18 SECTION 3.19. The Corridor Contract...............................................................III-18
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. DISTRIBUTIONS AND ADVANCES BY THE MASTER SERVICER
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. (a) In accordance with and to the extent of the Servicing Standard, the Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the Mortgage Loans to the extent the procedures are consistent with this Agreement and any related Required Insurance Policy. Consistent with the foregoing, the Servicer may in its discretion (i) subject to Section 3.21, waive any Late Payment Fee or, to the extent provided in Section 3.20, waive any Prepayment Charge in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Delinquent Mortgage Loan for a period not greater than 125
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Pre-Funding Account;
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Carryover Reserve Fund; Principal Reserve Fund; and Supplemental Interest Trust...51 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts...............56 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans....
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Pre-Funding Account; Capitalized Interest Account; Carryover Shortfall Reserve Fund. 61 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts. 65 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans. 66
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Class A-4 Reserve Fund; Pre-Funding Account;
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Errors and Omissions Insurance; Fidelity Bonds......................................III-17 ARTICLE IV DISTRIBUTIONS AND ADVANCES BY THE MASTER SERVICER
Collection of Mortgage Loan Payments; Certificate Account; Distribution Account. Supplemental Loan Account; Capitalized Interest Account; Corridor Contract Corridor Contract Reserve Fund.........................70 SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow Accounts........................75 SECTION 3.07. Access to Certain Documentation and Information Regarding the Mortgage Loans...............75 SECTION 3.08. Permitted Withdrawals from the Certificate Account, the Distribution Account and the Corridor Contract Corridor Contract Reserve Fund...........................76 SECTION 3.09. Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies.................78
