Common use of Maintenance of Fidelity Bond and Errors and Omissions Insurance Clause in Contracts

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA. Upon the request of the Indenture Trustee or the Insurer, the Servicer shall cause to be delivered to the Indenture Trustee or the Insurer a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Indenture Trustee.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First Horizon Asset Securities Inc)

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Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Fannie Mae Guides or by Freddie Mac in the Freddie Mac Sellers' & Serxxxxxx' Guide. Upon the request xxxxxxx of the Indenture Trustee or the InsurerSecuxxxxxx Xxxxxxxxxxxxr, the Servicer shall cause to be delivered to the Indenture Trustee or the Insurer such party a certificate of insurance of the insurer for such fidelity bond and the surety including insurance policy and a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Indenture TrusteeSecurities Administrator.

Appears in 1 contract

Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Guides or by Freddie Mac in the Freddie Mac Xxxxxxs' & Servicexx' Xxide. Upon the request of the Indenture Trustee or the Insurerrequxxx xx any Owner, the Servicer shall cause txx Xxxxxxxx xxxxx xause to be delivered to the Indenture Trustee or the Insurer such Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Master Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Fxxxxx Mae Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Indenture Trustee Master Servicer or the InsurerIndenture Trustee, the Servicer shall cause to be delivered to the Indenture Trustee or the Insurer such party a certificate of insurance of the insurer for such fidelity bond and the surety including insurance policy and a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Master Servicer and the Indenture Trustee.

Appears in 1 contract

Samples: Securitization Subservicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Guides or by Freddie Mac in the Freddix Xxx Sxxxers' & Sxxxxxxrs' Guide. Upon the request txx xxxxest of the Indenture Trustee or the Insurerany Oxxxx, the Servicer xxx Xxxxxxxx shall cause to be delivered to the Indenture Trustee or the Insurer such Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Master Servicing Agreement (Structured Asset Sec Mort Pass Thru Cert Ser 2002-22h)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Guides or by Freddie Mac in the Fxxxxxx Mac Sellers' & Xxrxxxers' Guide. Upon the Upxx xxx request of the Indenture Trustee or the Insurertxx Xxxxxxxxx, the Servicer xxx Xervicer shall cause to be delivered to the Indenture Trustee or the Insurer Purchaser a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteePurchaser.

Appears in 1 contract

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMAXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Indenture Trustee or the InsurerOwner, the Servicer shall cause to be delivered to the Indenture Trustee or the Insurer Owner a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Servicing Agreement (Banc of America Funding Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all directors, officers, employees or other persons employees including full-time and part-time employees acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”)Loans. Any such Fidelity Bond and Errors and Omissions Insurance Policy These policies shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losseslosses resulting from dishonest or fraudulent acts committed by the Servicer's directors, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Servicer Employeesofficers or employees. Such The Fidelity Bond and Errors and Omissions Insurance Policy shall also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 2.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Servicing Guide or by Freddie Mac in the Fxxxxxx Mac Servicexx' Xxixx or in an amount as may xx xxxxitted to the Xxxxxxer by express waiver of Fannie Mae or Freddie Mac. Upon the request of the Indenture Trustee or the InsurerPurchaser, the Servicer shall cause to be Servixxx xxall causx xx xx delivered to the Indenture Trustee or the Insurer Purchaser a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteePurchaser.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Sabr Trust 2005-Fr2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companiescompanies that would meet the requirements of Fxxxxx Mxx, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by FNMAtime of Fxxxxx Mae. Upon the request of the Indenture Trustee or the Insurerrequest, the Servicer shall cause to be delivered to the Indenture Trustee or the Insurer Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Flow Servicing Agreement (PennyMac Mortgage Investment Trust)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Guides or by Freddie Mac in the Fredxxx Xxc Sellers' & Xxxxxcxxx' Guide. Upon the request xxx xxxuest of the Indenture Trustee or the InsurerXxxxxxxxx, the Servicer xxx Xxxxicer shall cause to be delivered to the Indenture Trustee or the Insurer Purchaser a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteePurchaser.

Appears in 1 contract

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMAFLEA in the FNMA Mortgage-Backed Securities Selling and Servicing Guide or by FHLMC in the FHLMC Guide. Upon the request of the Indenture Trustee or the InsurerPurchaser, the Servicer shall cause to be delivered to the Indenture Trustee or the Insurer Purchaser a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Indenture TrusteePurchaser. In the event that the surety or insurer charges the Servicer a fee for providing such evidence, the Purchaser shall reimburse the Servicer for the reasonable expense incurred by the Servicer in furnishing such evidence.

Appears in 1 contract

Samples: Servicing Agreement (Chevy Chase Preferred Capital Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a related Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAXxxxxx Xxx in the Xxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Indenture Trustee Master Servicer or the InsurerTrustee, the Special Servicer shall cause to be delivered to the Indenture Trustee or the Insurer such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Indenture TrusteeMaster Servicer.

Appears in 1 contract

Samples: Servicing Agreement (Lehman Mortgage Trust 2007-6)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Fannie Mae Guides or by Freddie Mac in the Freddie Mac Sellers’ & Servicers’ Guide. Upon the request of the Indenture Trustee Master Servicer or the InsurerNIMS Inxxxxx, the xxx Servicer shall cause shalx xxxxx to be delivered to the Indenture Trustee or the Insurer delivxxxx xx xxxx xxxxx a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Indenture TrusteeMaster Servicer or the NIMS Insurer.

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 Am1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMAin the FNMA Guides. Upon the request of the Indenture Trustee or the InsurerPurchaser, the Servicer shall cause to be delivered to the Indenture Trustee or the Insurer Purchaser a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Indenture TrusteePurchaser. In the event that the surety or insurer charges the Servicer a fee for providing such evidence, the Purchaser shall reimburse the Servicer for the reasonable expense incurred by the Servicer in furnishing such evidence.

Appears in 1 contract

Samples: Servicing Agreement (Chevy Chase Preferred Capital Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companiescompanies that are acceptable to Fannie Mae and Freddie Mac, at its own expense, a blanket fidelity bond (“Fidelity Bond”) and Boxx xxx an errors and omissions insurance policy (“Errors and Omissions Errorx xxx Xmissions Insurance Policy”), with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMAacceptable to Fannie Mae or Freddie Mac. Upon the request of the Indenture Trustee or the Insurerany Owner, the Servicer shall Servicex xxxxl cause xx xx xelivered to be delivered to the Indenture Trustee or the Insurer such Owner a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)

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Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMAFannie Mae or Freddie Mac. Upon the request of the Indenture Trustee or the InsurerOwner, the Servicer shall xxxxx cause to be delivered xx xxxivered to the Indenture Trustee or the Insurer Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gs-FFMLT 2006-Ff13)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a related Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAXxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Indenture Trustee Master Servicer or the InsurerTrustee, the Special Servicer shall cause to be delivered to the Indenture Trustee or the Insurer such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Indenture Master Servicer and the Trustee.

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Securities Corp Trust 2005-6)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companiesmaintain, at its own expense, a Fidelity Bond, which is also known as a blanket fidelity bond (“Fidelity Bond”) under the Fannie Mae Guides, and an errors and omissions xxx xmxxxions insurance policy (“Errors and Omissions Insurance an "E&O Policy"), with broad coverage with responsible companies on all officers, employees or other persons acting in any capacity requiring such persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the related Mortgage Loans (“Servicer Employees”)Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond a mortgage banker's bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The E&O Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of the Servicer Employeessuch persons. Such Fidelity Bond and Errors and Omissions Insurance E&O Policy shall also shall protect and insure the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such the Fidelity Bond and Errors and Omissions Insurance or E&O Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy E&O Policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Guixxx xx by Freddie Xxx xx xxx Freddie Mac Gxxxxx. Upon The Servicer xxxxx deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Indenture Trustee or the Insurer, the Servicer Fidelity Bond and E&O Policy and shall cause to be delivered to the Indenture Trustee or the Insurer a certificate of insurance of the insurer and the surety including obtain a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance or E&O Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Indenture TrusteePurchaser. The Seller shall notify the Purchaser within five (5) business days of receipt of notice that such Fidelity Bond or E&O Policy will be, or has been, materially modified or terminated. The Purchaser (or any party having the status of Purchaser hereunder) and any subsidiary thereof and their successors or assigns as their interests may appear must be named as certificate holder, which is also known as loss payee under the Fannie Mae Guides, on the Fidelixx Xxxd and as additional insured on the E&O Policy. Upon request by the Purchaser, the Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Purchase Agreement (Gs Mortgage Securities Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”"SERVICER EMPLOYEES"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 22 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("5713 5/93") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts 77 of the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA. Upon the request of the Indenture Trustee or the InsurerTrustee, the related Servicer shall cause to be delivered to the Indenture Trustee or the Insurer a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Guides and by Freddie Mac in the Freddxx Xxx Xxxlers' & Xxxxxxers' Guide. Upon the request thx xxxxxst of the Indenture Trustee or the Insurerany Owxxx, the Servicer shall xxx Xxxxxxxx xhall cause to be delivered to the Indenture Trustee or the Insurer such Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Ce Se 2001-Bc3)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Master Servicer in the Servicer's Guide, or, in the absence of such requirement, the corresponding amounts required by Fannie Mae in the Fannie Mae Mortgage-Backed Securities Selling axx Xxxvxxxng Guide xxx xy Freddie Mac in the Freddie Mac Sellers' & Servicers' Guide. Upon the request xxx xxxuest of the Indenture Trustee or the InsurerXxxxxx Xxxxxxxx, the xxe Servicer shall cause to be delivered to the Indenture Trustee or Master Servicer certificates evidencing that such policy and bond is in effect and shall furnish to the Insurer a certificate of insurance of the insurer and the surety including Master Servicer a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteeMaster Servicer.

Appears in 1 contract

Samples: Correspondent Servicing Agreement (Lehman Sarm 2005-11)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMAFannie Mae in the Fannie Mae Guides or by Freddie Mac in the Freddie Mac Sellers’ & Servxxxxx’ Guide. Upon the request xxx xexxxst of the Indenture Trustee or the InsurerPurcxxxxx, the Servicer shall cause to be xxxxx xxxxx xx xx delivered to the Indenture Trustee or the Insurer Purchaser a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Indenture TrusteePurchaser.

Appears in 1 contract

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Master Servicer in the Servicer's Guide, or, in the absence of such requirement, the corresponding amounts required by Fannie Mae in the Fannie Mae Mortgage-Backed Securities Selling and Servixxxx Xuxxx and by Xxxxxxe Mac in the Freddie Mac Sellers' & Servicers' Guide. Upon the request of requxxx xx the Indenture Trustee or the InsurerMaster Sxxxxxxx, the Servicer xxx Xxxxxxer shall cause to be delivered to the Indenture Trustee or Master Servicer certificates evidencing that such policy and bond is in effect and shall furnish to the Insurer a certificate of insurance of the insurer and the surety including Master Servicer a statement from the surety and the insurer that such Fidelity Bond fidelity bond and Errors and Omissions Insurance Policy insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteeMaster Servicer.

Appears in 1 contract

Samples: Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2004-14)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond”) Bond and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.06 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMAFannie Mae or Freddie Mac. Upon the request of the Indenture Trustee or the InsurerOwner, the Servicer shall Servicxx xxxll cause to be xx xx delivered to the Indenture Trustee or the Insurer Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such Fidelity Bond and Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Indenture TrusteeOwner.

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity Trust 2006-13)

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