When Replacement Reserve Funding Was Partially or Fully Waived

If Replacement Reserve Replacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. funding was partially or fully waived at the Mortgage Loan Origination Date Mortgage Loan Origination DateDate you fund a Mortgage Loan to the Borrower. , the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must monitor the condition of the Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). to ensure the Borrower BorrowerPerson who is the obligor per the Note. preserves and maintains the Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). as required by the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .

If the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. or Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! determines that the Borrower BorrowerPerson who is the obligor per the Note. is not properly preserving and maintaining the Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). , the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must require the Borrower BorrowerPerson who is the obligor per the Note. to begin making monthly deposits to the Replacement Reserve Replacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. in accordance with either the funding schedule set forth in the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , or an alternative funding schedule determined by the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. .