Application of Proceeds of Insurance to Repair or Restoration. The Servicer shall collect the proceeds from all policies of insurance required to be maintained pursuant to Section 2.10 with respect to all losses that may occur. The Servicer may remit such proceeds to the Mortgagor for the restoration or repair of the related property and shall otherwise take such actions in connection with such restoration and repair in a manner consistent with Acceptable Servicing Procedures.
Appears in 24 contracts
Samples: Servicing Agreement (Zuni 2006-Oa1), Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Servicing Agreement (GSR Mortgage Loan Trust 2006-9f)
Application of Proceeds of Insurance to Repair or Restoration. The Servicer shall collect the proceeds from all policies of insurance required to be maintained pursuant to Section 2.10 with respect to all losses that may occur. The Servicer may remit such proceeds to the Mortgagor for toward the restoration or repair of the related property in a manner, and shall otherwise take such actions in connection with such restoration and repair in a manner repair, as shall be consistent with Acceptable Servicing Procedures.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2002-1a)
