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47 199386222v3 (c) All payments received under this Funding Loan Agreement or Funding Loan Documents shall be applied in the following order unless otherwise instructed by the Funding Lender or expressly set forth in this Funding Loan Agreement or the Funding Loan Documents: (i) To the principal and interest due and payable on the Borrower Note; (ii) To the Governmental Lender’s Fee and the Fiscal Agent’s Fee, as applicable; (iii) To the acceleration premium, if applicable; (iv) To amounts due and payment under the Direct Note; (v) To required deposits to the Replacement Reserve Account; (vi) To required deposits in the Tax and Insurance Escrow Account; (vii) To other escrow or reserve deposits required by this Funding Loan Agreement or the other Funding Loan Documents; (viii) To Default Interest and any late fees; and (ix) To other amounts due under the Funding Loan Documents. (d) Any payment received by the Controlling Person from or on behalf of the Borrower under this Funding Loan Agreement or the Funding Loan Documents shall be remitted by the Controlling Person to the Funding Lender or the Fiscal Agent no later than the second (2nd) Business Day after receipt by the Controlling Person, or sooner if so required under this Funding Loan Agreement or Funding Loan Documents. The Controlling Person shall make any remittance to the Funding Lender or the Fiscal Agent by wire transfer in accordance with the instructions received from the Funding Lender or the Fiscal Agent or to any other party entitled to such remittances pursuant this Funding Loan Agreement or the Funding Loan Documents in accordance with the instructions received from the Funding Lender. (e) The Controlling Person shall review the Tax and Insurance Escrow Account and the Replacement Reserve Account on an annual basis and adjust required monthly escrow invoices and payment in accordance with terms of Funding Loan Documents. (f) Upon request of the Funding Lender, the Controlling Person shall furnish to the Funding Lender monthly account statements received from the Fiscal Agent with respect to the any accounts established pursuant to this Funding Loan Agreement, including disbursements from such accounts, loan history schedules, outstanding loan balances and escrow balances. (g) The Controlling Person shall provide immediate written notice to the Funding Lender of any Event of Default of which it receives notice or has actual knowledge, or any event which, with the giving of notice or the passage of time, or both, would constitute any Event of Default of which it receives notice or has actual knowledge. (h) The Controlling Person shall refer to the Funding Lender and the Fiscal Agent all Borrower requests for a quote of a payoff amount for the Borrower Loan, shall request a copy of any such quote from the Funding Lender and/or the Fiscal Agent, and shall notify the Funding Lender of the Borrower’s request. The Controlling Person shall prepare payoff letters and delinquency and default notices