Defeasance Deposit

If a Fannie Mae investment security will be the substitute collateral, then, on or before 3:00 p.m. ET on the Defeasance Close Date, the BorrowerBorrowerPerson who is the obligor per the Note. must pay the Defeasance Deposit (reduced by the Defeasance Commitment Fee) to the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. to be used by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. , as the Borrower'sBorrower'sPerson who is the obligor per the Note. agent, to purchase the Fannie Mae Investment Security.

The BorrowerBorrowerPerson who is the obligor per the Note. or Closing Agent must wire the Defeasance Deposit to ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. by 3:00 p.m. ET on the Defeasance Closing Date. The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must wire the Defeasance Deposit (reduced by the Defeasance Commitment Fee) to Fannie Mae for receipt by 5:00 p.m. ET on the Defeasance Closing Date.