Blanket Flood Insurance Coverage. As to each Condominium Project or PUD which contains a Mortgaged Property for which its Flood Hazard Insurance coverage is provided through a blanket policy, the amount of Flood Insurance must be at least equal to the lesser of (a) the maximum amount available under the National Flood Insurance Program's regular program or the its emergency program, (b) the aggregate of the outstanding principal balances of all mortgage notes secured by units within the Condominium Project or PUD (including the Mortgage Notes secured by Mortgaged Properties), or (c) 100% of the replacement cost of the improvements on the Condominium Project or PUD Unit site.
Appears in 71 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar5 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-9 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-6 Trust)
Blanket Flood Insurance Coverage. As to each Condominium Project or PUD which contains a Mortgaged Property for which its Flood Hazard Insurance coverage is provided through a blanket policy, the amount of Flood Insurance must be at least equal to the lesser least of (a) the maximum amount available under the National Flood Insurance Program's regular program or the its emergency program, (b) the aggregate of the outstanding principal balances of all mortgage notes secured by units within the Condominium Project or PUD (including the Mortgage Notes secured by Mortgaged Properties), or (c) 100% of the replacement cost of the improvements on the Condominium Project or PUD Unit site.
Appears in 5 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008-Ar1 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-17 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008-Ar2 Trust)
Blanket Flood Insurance Coverage. As to each Condominium Project or PUD which contains a Mortgaged Property for which its Flood Hazard Insurance coverage is provided through a blanket policy, the amount of Flood Insurance must be at least equal to the lesser of (a) the maximum amount available under the National Flood Insurance Program's ’s regular program or the its emergency program, (b) the aggregate of the outstanding principal balances of all mortgage notes secured by units within the Condominium Project or PUD (including the Mortgage Notes secured by Mortgaged Properties), or (c) 100% of the replacement cost of the improvements on the Condominium Project or PUD Unit site.
Appears in 1 contract
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)
