Common use of Hazard or Property Insurance Clause in Contracts

Hazard or Property Insurance. For each Mortgage Loan that is secured by a first lien, the Primary Servicer will cause hazard insurance, if available and not unreasonably expensive in keeping with Accepted Servicing Practices, to be maintained on the related Mortgaged Property in an amount consistent with the related Mortgage Documents, unless such insurance is not required under either the related Mortgage Documents or the related Servicing Contract for that Mortgage Loan.‌

Appears in 4 contracts

Samples: Amended and Restated 2021 Multifamily Master Trust Agreement, Multifamily Master Trust Agreement, 2021 Multifamily Master Trust Agreement

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Hazard or Property Insurance. For each Mortgage Loan that is secured by a first lien, the Primary Direct Servicer will cause hazard insurance, if available and not unreasonably expensive in keeping with Accepted Servicing Practices, to be maintained on the related Mortgaged Property in an amount consistent with the related Mortgage Documents, unless such insurance is not required under either the related Mortgage Documents or the related Servicing Contract for that Mortgage Loan.‌Loan when it is transferred to the Trust.

Appears in 4 contracts

Samples: Second Amended and Restated 2016 Single Family Master Trust Agreement, Single Family Master Trust Agreement, Master Trust Agreement

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Hazard or Property Insurance. For each Mortgage Loan that is secured by a first lien, the Primary Servicer will cause hazard insurance, if available and not unreasonably expensive in keeping with Accepted Servicing Practices, to be maintained on the related Mortgaged Property in an amount consistent with the related Mortgage Documents, unless such insurance is not required under either the related Mortgage Documents or the related Servicing Contract for that Mortgage Loan.‌Loan.

Appears in 2 contracts

Samples: Master Trust Agreement, 2010 Multifamily Master Trust Agreement

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