Yes. Monthly reserves will be mandated for taxes and insurance. (PITI) is a typical escrow account found in many traditional residential mortgages. The determined reserves will be used to pay tax and insurance bills as they become due and paid directly by the servicer.
In addition, Capital expenditure (CAPX) reserves will be collected on a monthly basis to pay for deferred maintenance and repairs the properties (Roof, Appliances, HVAC, etc.).
The sponsor or the property manager is allowed to draw from this reserve account as necessary to fund and pay for the invoices on the actual expenses.