Common use of Maintenance of Hazard Insurance Clause in Contracts

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan (other than a Cooperative Loan) hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisLoan, except in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments cases approved by the Servicer for hazard insurance, other than as set forth in which such amount exceeds the last paragraph value of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), the improvements to the extent not collected from the related MortgagorMortgaged Property. The Servicer will comply shall also require hazard insurance with extended coverage in the performance a comparable amount on property acquired upon foreclosure, or deed in lieu of this Agreement with all reasonable rules and requirements foreclosure, of each insurer under any such hazard policiesMortgage Loan (other than a Cooperative Loan). Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred in maintaining any insurance described in this Section 3.07 shall be recoverable as an advance by the Servicer in maintaining any such pursuant to Section 3.05(a). Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitServicer or Xxxxxx Xxx or Freddie Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any a Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that Loan, the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable cause flood insurance to such rating) insuring against be provided. The hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of insurance coverage required by this Section 3.17, it being understood and agreed that such policy 3.07 may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying be met with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit blanket policies providing protection equivalent to the Custodial Account from its own funds without right of reimbursement the amount not individual policies otherwise payable under the blanket policy because of such deductible clauserequired. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located by an insurer acceptable to Fxxxxx Mxx or Fxxxxxx Mac and FHA or VA, as applicable, in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the current outstanding principal balance of such owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as a special flood hazard area (and such flood insurance has been made available) the Seller will cause to be maintained a flood insurance policy meeting the requirements of the National Flood Insurance Program, in an amount necessary representing coverage not less than the lesser of (A) the minimum amount required under the terms of the coverage to fully compensate for any damage or loss to the Mortgaged Property on a replacement-cost basis (or the outstanding principal balance of the Mortgage Loan if replacement-cost basis is not available) or (B) the maximum amount of insurance available under the National Flood Insurance Program. The Seller shall also maintain on REO Property fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements that which are a part of such property on a replacement cost basisproperty, in each case in an amount not less than the amount as is necessary to avoid the application of any co-liability insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)and, to the extent not collected from required and available under the related Mortgagor. The Servicer will comply National Flood Insurance Program, flood insurance in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesan amount required above. Any amounts to be collected by the Servicer Seller under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Customary Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Seller of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Mortgaged Property Seller, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or REO Property is at any time material change in an area identified coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in the Federal Register selecting either its insurance carrier or agent; provided, however, that unless otherwise required by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance terms of the related Mortgage Note or applicable law, the Seller shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Fxxxxx Mae or Fxxxxxx Mac and FHA or VA, as applicable, and are licensed to do business in the state wherein the property subject to the policy is located. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy development in a timely fashion in accordance manner which is consistent with Fxxxxx Mae or Fxxxxxx Mac requirements and FHA or VA requirements, as applicable, unless otherwise required by the terms of such policythe related Mortgage Note or applicable law.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Trust Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Trust Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will shall comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Master Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and Loan; (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ; and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Master Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and Loan; (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac and FHA or VA, as applicable, in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the current outstanding principal balance of such owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as a special flood hazard area (and such flood insurance has been made available) the Seller will cause to be maintained a flood insurance policy meeting the requirements of the National Flood Insurance Program, in an amount necessary representing coverage not less than the lesser of (A) the minimum amount required under the terms of the coverage to fully compensate for any damage or loss to the Mortgaged Property on a replacement-cost basis (or the outstanding principal balance of the Mortgage Loan if replacement-cost basis is not available) or (B) the maximum amount of insurance available under the National Flood Insurance Program. The Seller shall also maintain on REO Property fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements that which are a part of such property on a replacement cost basisproperty, in each case in an amount not less than the amount as is necessary to avoid the application of any co-liability insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)and, to the extent not collected from required and available under the related Mortgagor. The Servicer will comply National Flood Insurance Program, flood insurance in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesan amount required above. Any amounts to be collected by the Servicer Seller under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Customary Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Seller of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Mortgaged Property Seller, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or REO Property is at any time material change in an area identified coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in the Federal Register selecting either its insurance carrier or agent; provided, however, that unless otherwise required by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance terms of the related Mortgage Note or applicable law, the Seller shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae or Xxxxxxx Mac and FHA or VA, as applicable, and are licensed to do business in the state wherein the property subject to the policy is located. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy development in a timely fashion in accordance manner which is consistent with Xxxxxx Mae or Xxxxxxx Mac requirements and FHA or VA requirements, as applicable, unless otherwise required by the terms of such policythe related Mortgage Note or applicable law.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan Loan, other than a Cooperative Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by with a generally acceptable insurer against loss by fire, hazards of standard mortgagee clause and with extended coverage and in an amount which is at least equal to the maximum insurable value of the improvements securing such Mortgage Loan from time to time or the principal balance owing on such Mortgage Loan from time to time, whichever is less. The Company shall also maintain on property (other hazards as are customary than Cooperative Apartments) acquired upon foreclosure, or by deed in the area where the Mortgaged Property is located lieu of foreclosure, hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the current maximum insurable value from time to time of the improvements which are a part of such property or (ii) the unpaid principal balance of such Mortgage Loan and (ii) at the amount necessary to fully compensate for any damage or loss to the improvements that are a part time of such property on a replacement cost basis, foreclosure or deed in each case lieu of foreclosure plus accrued interest and the good-faith estimate of the Company of related Liquidation Expenses to be incurred in an amount not less than connection therewith. To the amount as is necessary to avoid the application of any co-insurance clause contained extent provided in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.02(b)(iv), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer Company under any such policies (in respect of the Mortgage Loans shall be credited to the Mortgage Loan Payment Record. Such costs shall be recoverable by the Company pursuant to Sections 3.03 and 3.04. In cases in which property securing any Mortgage Loan other than amounts a Cooperative Loan is located in a federally designated flood area, the hazard insurance to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related maintained for such Mortgage and Mortgage Note) Loan shall include flood insurance. All such flood insurance shall be deposited in the Custodial Account, subject such amounts as are required under applicable guidelines of FNMA. The Company shall be under no obligation to withdrawal pursuant require that any Mortgagor maintain earthquake or other additional insurance and shall be under no obligation itself to Section 3.04, if received maintain any such additional insurance on property acquired in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer Company shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans (whether or not including Cooperative Loans), it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.06, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer Company shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.06, and there shall have been one or more losses a loss which would have been covered by such policy, deposit credit to the Custodial Account from its own funds without right of reimbursement Mortgage Loan Payment Record the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Securitized Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the such Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Securitized Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.04(vii) or (x), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Securitized Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Securitized Loan, notwithstanding that the terms of such Mortgage Securitized Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Securitized Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer or the Sub-Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansSecuritized Loans in a Trust, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.17 with respect to the Securitized Loans in such Trust, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause for the benefit of the related Trust. In connection with its activities as administrator and servicer of the Mortgage Securitized Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Trust and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer or the applicable Servicer from the related Custodial Account for P&I, the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and Xxxxxx Xxx or Freddie Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan (other than a Cooperative Loan) hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current unpaid principal balance (or, if less, the original principal balance) of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on the Mortgaged Property on a replacement cost basis, but in each either case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for shall also require hazard insuranceinsurance with extended coverage in a comparable amount on property acquired upon foreclosure, or deed in lieu of foreclosure, of any Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred in maintaining any insurance described in this Section 3.07 shall be recoverable as an advance by the Servicer in maintaining any such pursuant to Section 3.05(a). Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitServicer or Xxxxxx Xxx or Freddie Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any a Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that Loan, the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable cause flood insurance to such rating) insuring against be provided. The hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of insurance coverage required by this Section 3.17, it being understood and agreed that such policy 3.07 may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying be met with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit blanket policies providing protection equivalent to the Custodial Account from its own funds without right of reimbursement the amount not individual policies otherwise payable under the blanket policy because of such deductible clauserequired. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will shall comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Master Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and Loan; (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located that conforms to the requirements of Xxxxxx Xxx or Xxxxxxx Mac. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall also maintain on REO Property fire and hazard insurance with extended coverage in an amount which is at least equal to meets the lesser of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesXxxxxx Mae or Xxxxxxx Mac. Any amounts to be collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Accepted Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to Servicer, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in an amount equal or material change in coverage to the lesser Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such choice in selecting either its insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event carrier or agent; provided, however, that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or not accept any such other rating insurance policies that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall do not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit conform to the Custodial Account from its own funds without right requirements of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyXxxxxx Mae or Xxxxxxx Mac.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located by an insurer acceptable to Fxxxxx Mxx or Fxxxxxx Mac and FHA or VA, as applicable, in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the current outstanding principal balance of such owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as a special flood hazard area (and such flood insurance has been made available) the Seller will cause to be maintained a flood insurance policy meeting the requirements of the National Flood Insurance Program, in an amount necessary representing coverage not less than the lesser of (A) the minimum amount required under the terms of the coverage to fully compensate for any damage or loss to the Mortgaged Property on a replacement-cost basis (or the outstanding principal balance of the Mortgage Loan if replacement-cost basis is not available) or (B) the maximum amount of insurance available under the National Flood Insurance Program. The Seller shall also maintain on REO Property fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements that which are a part of such property on a replacement cost basisproperty, in each case in an amount not less than the amount as is necessary to avoid the application of any co-liability insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)and, to the extent not collected from required and available under the related Mortgagor. The Servicer will comply National Flood Insurance Program, flood insurance in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesan amount required above. Any amounts to be collected by the Servicer Seller under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Customary Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Seller of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Mortgaged Property Seller, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or REO Property is at material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either its insurance carrier or agent; provided, however, that the Seller shall not accept any time in an area identified such insurance policies from insurance companies unless such companies are acceptable to Fxxxxx Mae or Fxxxxxx Mac and FHA or VA, as applicable, and are licensed to do business in the Federal Register state wherein the property subject to the policy is located. The hazard insurance policies for each Mortgage Loan secured by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to a unit in a condominium development or planned unit development shall be maintained a flood insurance policy in with respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related such Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy development in a timely fashion in accordance manner which is consistent with the terms of such policyFxxxxx Mae or Fxxxxxx Mac requirements and FHA or VA requirements, as applicable.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by applicable law, that is at least equal to the lesser of (i) the current principal balance estimated replacement value of the improvements that are part of such Mortgage Loan Mortgaged Property which may be the last known coverage, and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount necessary to fully compensate for any damage or loss to such that the improvements that are a part proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to be maintained on property on a replacement cost basis, acquired upon foreclosure or deed in each case in an amount not less than the amount as is necessary to avoid the application lieu of foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from required under the related Mortgagorstandards described below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a first lien Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid outstanding principal balance of the related Mortgage Loan and Loan, (ii) the estimated replacement value of the improvements that are part of such Mortgaged Property which may be the last known coverage, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisLoan, except in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments cases approved by the Servicer for hazard insurance, other than as set forth in which such amount exceeds the last paragraph value of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), the improvements to the extent not collected from the related MortgagorMortgaged Property. The Servicer will comply shall also require fire insurance with extended coverage in the performance a comparable amount on property acquired upon foreclosure, or deed in lieu of this Agreement with all reasonable rules and requirements foreclosure, of each insurer under any such hazard policiesMortgage Loan (other than a Cooperative Loan). Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred in maintaining any insurance described in this Section 3.07 shall be recoverable as an advance by the Servicer in maintaining any such from the Custodial Account for P&I, the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitServicer and Xxxxxx Xxx or Freddie Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that Loan, the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable cause flood insurance to such rating) insuring against be provided. The hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of insurance coverage required by this Section 3.17, it being understood and agreed that 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Servicer shall be responsible for paying any deductible amount on any such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such blanket policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer from the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and Xxxxxx Mae or Xxxxxxx Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current principal balance replacement value of the improvements that are part of such Mortgage Loan Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount necessary to fully compensate for any damage or loss to such that the improvements that are a part proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to be maintained on property on a replacement cost basis, acquired upon foreclosure or deed in each case in an amount not less than the amount as is necessary to avoid the application lieu of foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan (other than a Co-op Loan), fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current principal balance replacement value of the improvements that are part of such Mortgage Loan Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount necessary to fully compensate for any damage or loss to such that the improvements that are a part proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to be maintained on property on a replacement cost basis, acquired upon foreclosure or deed in each case in an amount not less than the amount as is necessary to avoid the application lieu of foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by applicable law, that is at least equal to the lesser of (i) the current estimated replacement value of the improvements that are part of such Mortgaged Property, which may be the last known coverage, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from required under the related Mortgagorstandards described below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a first lien Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid outstanding principal balance of the related Mortgage Loan and Loan, (ii) the estimated replacement value of the improvements that are part of such Mortgaged Property, which may be the last known coverage, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by applicable law, that is at least equal to the lesser of (i) the current estimated replacement value of the improvements that are part of such Mortgaged Property which may be the last known coverage, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from required under the related Mortgagorstandards described below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a first lien Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid outstanding principal balance of the related Mortgage Loan and Loan, (ii) the estimated replacement value of the improvements that are part of such Mortgaged Property which may be the last known coverage, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. (a) The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.27. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III VI or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account maintained by the Servicer from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer from the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and Xxxxxx Xxx or Xxxxxxx Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the benefit of the Trustee and the Certificateholders, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by applicable law, that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from required under the related Mortgagorstandards described below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a first lien Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer Subservicer shall cause to be maintained maintained, for each Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current principal balance replacement value of the improvements that are part of such Mortgage Loan Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount necessary to fully compensate for any damage or loss to such that the improvements that are a part proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Subservicer shall also cause flood insurance to be maintained on property on a replacement cost basis, acquired upon foreclosure or deed in each case in an amount not less than the amount as is necessary to avoid the application lieu of foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer Subservicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteSubservicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer Subservicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Subservicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will Subservicer shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer Subservicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer Subservicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer Subservicer agrees to prepare and present, on behalf of itself, the Depositor, the Master Servicer and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer from the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and Xxxxxx Mae or Xxxxxxx Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the benefit of the Trustee and the Certificateholders, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan (other than a Co-op Loan), fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such first lien Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Depositor and the Securities Administrator for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan (other than a Co-op Loan), fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such first lien Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Depositor and the Trustee, for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will shall comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Master Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and Loan, (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located that conforms to the requirements of Fannie Mae or Freddie Mac. If the Mortgaged Property is in an arex xxxxtxxxed ix xxx Xederal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of Fannie Mae or Freddie Mac. The Servicer shall also maintain on REX Xxxxerty firx xxx xazard insurance with extended coverage in an amount which is at least equal to meets the lesser of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesFannie Mae or Freddie Mac. Any amounts to be collected by the Servicer under xxxxx any such policies xxxxxxes (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Accepted Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to Servicer, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in an amount equal or material change in coverage to the lesser Servicer. The Servicer shall not interfere with the Mortgagor's freedom of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such choice in selecting either its insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event carrier or agent; provided, however, that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or not accept any such other rating insurance policies that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall do not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit conform to the Custodial Account from its own funds without right requirements of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyFannie Mae or Freddie Mac.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan secured by a first lien, fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by applicable law, that is at least equal to the lesser of (i) the current principal balance estimated replacement value of the improvements that are part of such Mortgage Loan Mortgaged Property (which may be the last known coverage) and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount necessary to fully compensate for any damage or loss to such that the improvements that are a part proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to be maintained on property on a replacement cost basis, acquired upon foreclosure or deed in each case in an amount not less than the amount as is necessary to avoid the application lieu of foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Master Servicer for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer as a Servicing Advance to the extent provided in Section 3.08(a)(vii) hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property with respect to a Mortgage Loan secured by a first lien is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid outstanding principal balance of the related Mortgage Loan and Loan, (ii) the estimated replacement value of the improvements that are part of such Mortgaged Property (which may be the last known coverage), or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Depositor and the Master Servicer for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Securitized Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the such Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Securitized Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.04(vii) or (x), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Securitized Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Securitized Loan, notwithstanding that the terms of such Mortgage Securitized Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Securitized Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer or the Sub-Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s 's Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansSecuritized Loans in a Trust, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.17 with respect to the Securitized Loans in such Trust, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause for the benefit of the related Trust. In connection with its activities as administrator and servicer of the Mortgage Securitized Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Trust and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding principal balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Master Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and Loan; (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Securitized Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the such Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Securitized Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.04(vii) or (x), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Securitized Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Securitized Loan, notwithstanding that the terms of such Mortgage Securitized Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Securitized Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer or the Sub-Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s 's Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansSecuritized Loans in a Trust, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.17 with respect to the Securitized Loans in such Trust, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause for the benefit of the related Trust. In connection with its activities as administrator and servicer of the Mortgage Securitized Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Trust and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy. Copies of such claims shall be provided to the NIMs Insurer.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer from the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and FNMA or FHLMC. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the benefit of the Trustee and the Certificateholders, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisLoan, except in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments cases approved by the Servicer for hazard insurance, other than as set forth in which such amount exceeds the last paragraph value of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), the improvements to the extent not collected from the related MortgagorMortgaged Property. The Servicer will comply shall also require fire insurance with extended coverage in the performance a comparable amount on property acquired upon foreclosure, or deed in lieu of this Agreement with all reasonable rules and requirements foreclosure, of each insurer under any such hazard policiesMortgage Loan (other than a Cooperative Loan). Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred in maintaining any insurance described in this Section 3.07 shall be recoverable as an advance by the Servicer in maintaining any such from the Custodial Account for P&I, the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitServicer or Xxxxxx Xxx or Freddie Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that Loan, the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable cause flood insurance to such rating) insuring against be provided. The hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of insurance coverage required by this Section 3.17, it being understood and agreed that 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Servicer shall be responsible for paying any deductible amount on any such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such blanket policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan secured by a first lien, fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by applicable law, that is at least equal to the lesser of (i) the current principal balance replacement value of the improvements that are part of such Mortgage Loan Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount necessary to fully compensate for any damage or loss to such that the improvements that are a part proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to be maintained on property on a replacement cost basis, acquired upon foreclosure or deed in each case in an amount not less than the amount as is necessary to avoid the application lieu of foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer as a Servicing Advance to the extent provided in Section 3.08(a)(vii) hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property with respect to a Mortgage Loan secured by a first lien is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by with a generally acceptable insurer against loss by fire, hazards of standard mortgagee clause and with extended coverage and in an amount which is at least equal to the maximum insurable value of the improvements securing such other hazards as are customary Mortgage Loan from time to time or the principal balance owing on such Mortgage Loan from time to time, whichever is less. The Company shall also maintain on property acquired upon foreclosure, or by deed in the area where the Mortgaged Property is located lieu of foreclosure, hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the current maximum insurable value from time to time of the improvements which are a part of such property or (ii) the unpaid principal balance of such Mortgage Loan and (ii) at the amount necessary to fully compensate for any damage or loss to the improvements that are a part time of such property on a replacement cost basis, foreclosure or deed in each case lieu of foreclosure plus accrued interest and the good-faith estimate of the Company of related Liquidation Expenses to be incurred in an amount not less than connection therewith. To the amount as is necessary to avoid the application of any co-insurance clause contained extent provided in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.02(b)(iv), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer Company under any such policies (other than amounts in respect of the Mortgage Loans shall be credited to the Mortgage Loan Payment Record. Such costs shall be recoverable by the Company pursuant to Sections 3.03 and 3.04. In cases in which property securing any Mortgage Loan is located in a federally designated flood area, the hazard insurance to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related maintained for such Mortgage and Mortgage Note) Loan shall include flood insurance. All such flood insurance shall be deposited in the Custodial Account, subject such amounts as are required under applicable guidelines of FNMA. The Company shall be under no obligation to withdrawal pursuant require that any Mortgagor maintain earthquake or other additional insurance and shall be under no obligation itself to Section 3.04, if received maintain any such additional insurance on property acquired in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer Company shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.06, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer Company shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.06, and there shall have been one or more losses a loss which would have been covered by such policy, deposit credit to the Custodial Account from its own funds without right of reimbursement Mortgage Loan Payment Record the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from required under the related Mortgagorstandards described below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer may in its reasonable discretion cause to be maintained hazard insurance on some or all Mortgaged Properties, subject to reimbursement as a Servicing Advance in accordance with the terms of this Agreement. To the extent required by applicable law or at the prior written direction of the Owner, if the related Mortgaged Property is located in an area identified by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), the Servicer shall cause to be maintained for each such Mortgage Loan hazard Property a flood insurance such that all buildings upon policy meeting the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards requirements of extended coverage and such other hazards as are customary the current guidelines of the Federal Insurance Administration in the area where the Mortgaged Property is located effect in an amount which is at least representing coverage equal to the lesser of (i) the current principal balance minimum amount required, under the terms of such Mortgage Loan and (ii) the amount necessary coverage, to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis; (ii) the unpaid balance of the related Mortgage; and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, in each case in an amount not less than the amount as is necessary to avoid the application amended. The cost of any co-flood insurance clause contained in the related hazard insurance policy. Any payments purchased by the Servicer for hazard insurance, other than as set forth in pursuant to the last paragraph of this Section 3.17, foregoing shall be deemed reimbursable as a Servicing Advances, reimbursable Advance in accordance with Section 3.04(ix)the terms of this Agreement. It is understood and agreed that the Servicer shall have no obligation to maintain insurance to cover loss or damage from an earthquake, windstorm or similar casualty. In the event that the Servicer shall determine that a Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the extent not collected from terms of the related Mortgage, the Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. The All policies required hereunder shall name the Servicer will comply as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (30) days’ prior written notice to Servicer of any cancellation, reduction in the performance of this Agreement with all reasonable rules and requirements of each insurer under amount or material change in coverage. Pursuant to Section 2.4, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or amounts to be released to the Mortgagor subject to Mortgagor, in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer’s normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account, Control Account subject to withdrawal pursuant to Section 3.042.5. For purposes of this Section 2.10 and Section 2.11, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, Owner acknowledges and agrees that an Insurer may be added to the unpaid principal balance an affiliate of the related Mortgage Loan, notwithstanding that Servicer. Notwithstanding the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availableforegoing, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying interfere with the first two sentences Mortgagor’s freedom of this Section 3.17, and there shall have been one choice in selecting either his or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyher insurance carrier or agent.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan (other than a Cooperative Loan) hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisLoan, except in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments cases approved by the Servicer for hazard insurance, other than as set forth in which such amount exceeds the last paragraph value of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), the improvements to the extent not collected from the related MortgagorMortgaged Property. The Servicer will comply shall also require hazard insurance with extended coverage in the performance a comparable amount on property acquired upon foreclosure, or deed in lieu of this Agreement with all reasonable rules and requirements foreclosure, of each insurer under any such hazard policiesMortgage Loan (other than a Cooperative Loan). Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred in maintaining any insurance described in this Section 3.07 shall be recoverable as an advance by the Servicer in maintaining any such pursuant to Section 3.05(a). Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitServicer or Xxxxxx Mae or Xxxxxxx Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any a Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that Loan, the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable cause flood insurance to such rating) insuring against be provided. The hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of insurance coverage required by this Section 3.17, it being understood and agreed that such policy 3.07 may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying be met with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit blanket policies providing protection equivalent to the Custodial Account from its own funds without right of reimbursement the amount not individual policies otherwise payable under the blanket policy because of such deductible clauserequired. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Other Insurance, Taxes and Other. Subject to the limitations set forth below, the Master Servicer shall use reasonable efforts consistent with the Servicing Standard to cause the related Mortgagor to be maintained maintain for each Mortgage Loan hazard insurance such that all buildings upon (other than any REO Mortgage Loan) (A) a Standard Hazard Insurance Policy (that, if the Mortgaged Property are insured by a generally acceptable insurer against loss by fireterms of the related Mortgage Loan documents and the related Mortgage so require or so permit the holder of the Mortgage Loan to require, hazards contains no exclusion for damages due to any Act or Acts of extended coverage and such other hazards Terrorism, as are customary defined in the area where the Mortgaged Property is located Terrorism Risk Insurance Act of 2002) and which does not provide for reduction due to depreciation in an amount which that is at least equal to the lesser of (i) the current principal balance full replacement cost of improvements securing such Mortgage Loan or (ii) the outstanding Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage related B Note or loss to the improvements that are a part of such property on a replacement cost basisServiced Companion Mortgage Loan, but, in each case any event, in an amount not less than the amount as is necessary sufficient to avoid the application of any co-insurance clause contained in and (B) any other insurance coverage for a Mortgage Loan which the related hazard Mortgagor is required to maintain under the related Mortgage, provided the Master Servicer shall not be required to maintain earthquake insurance policyon any Mortgaged Property unless such insurance was required at origination and is available at commercially reasonable rates; provided, however, that the Special Servicer shall have the right, but not the duty, to obtain, at the Trust's expense, earthquake insurance on any Mortgaged Property securing a Specially Serviced Mortgage Loan or an REO Property so long as such insurance is available at commercially reasonable rates. Any payments by If the Servicer for hazard insurance, other than as related Mortgagor does not maintain the insurance set forth in clauses (A) and (B) above, then the last paragraph of this Section 3.17, Master Servicer shall cause such insurance to be maintained with a Qualified Insurer. The Master Servicer shall be deemed Servicing Advancesto have satisfied its obligations with respect to clause (A) above if the Mortgagor maintains, reimbursable in accordance with Section 3.04(ix), to or the extent not collected from the related Mortgagor. The Master Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts shall have otherwise caused to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of obtained, a Standard Hazard Insurance Policy that is in compliance with the related Mortgage and Mortgage Note) shall be deposited in the Custodial AccountLoan documents, subject to withdrawal pursuant to Section 3.04and, if received in respect of a Mortgage Loan. Any cost incurred required by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake documents or other additional insurance is if such Mortgage Loan documents permit the holder of the Mortgage Loan to require, the Mortgagor pays, or the Master Servicer shall have otherwise caused to be paid, the premium required by the related insurance provider that is necessary to avoid an exclusion in such policy against "acts of terrorism" as defined by the Terrorism Risk Insurance Act of 2002. Each Standard Hazard Insurance Policy maintained with respect to any Mortgagor other than pursuant to such applicable laws and regulations as Mortgaged Property that is not an REO Property shall at any time be in force and as shall require such additional insurancecontain, or have an accompanying endorsement that contains, a standard mortgagee clause. If the improvements on the Mortgaged Property or REO Property is at any time are located in an a designated special flood hazard area identified in the Federal Register by the Federal Emergency Management Agency in the Federal Register, as having special flood hazards and amended from time to time (to the extent permitted under the related Mortgage Loan or as required by law), the Master Servicer (with respect to any Mortgaged Property that is not an REO Property) shall cause flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereofmaintained. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and or (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that program, if the area in which such the improvements on the Mortgaged Property is are located is participating in such program). In Any amounts collected by the event that Master Servicer under any such policies (other than amounts to be applied to the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating restoration or repair of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one property thus acquired or more losses which would have been covered by such policy, deposit amounts released to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion Mortgagor in accordance with the terms of the applicable Mortgage Loan) shall be deposited in the Certificate Account. Any cost (such policyas insurance premiums and insurance broker fees but not internal costs and expenses of obtaining such insurance) incurred by the Master Servicer in maintaining any insurance pursuant to this Section 8.6 shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Paying Agent for their benefit, be added to the Principal Balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan permit such cost to be added to the outstanding Principal Balance thereof. Such costs shall be paid as a Servicing Advance by the Master Servicer, subject to Section 4.4 hereof. Notwithstanding the above, the Master Servicer shall have no obligation beyond using its reasonable efforts consistent with the Servicing Standard to enforce such insurance requirements. Furthermore, the Master Servicer shall not be required in any event to cause the Mortgagor to maintain or itself obtain insurance coverage beyond what is available on commercially reasonable terms at a cost customarily acceptable (in each case, as determined by the Master Servicer, which shall be entitled to rely, at its sole expense, on insurance consultants in making such determination, consistent with the Servicing Standard) and consistent with the Servicing Standard; provided, that the Master Servicer shall be obligated to cause the Mortgagor to maintain or itself obtain insurance against property damage resulting from terrorism or similar acts if the terms of the related Mortgage Loan documents and the related Mortgage so require unless the Master Servicer determines that (i) such insurance is not available at any rate or (ii) such insurance is not available at commercially reasonable rates and such hazards are not at the time commonly insured against for properties similar to the related Mortgaged Property and located in or around the region in which such related Mortgaged Property is located; provided, that such determination must be made by the Master Servicer not less frequently (but need not be made more frequently) than annually, but in any event, shall be made on the approximate date on (but not later than sixty (60) days thereafter) which the Master Servicer receives notice of the renewal, replacement or cancellation of coverage (as evidenced by the related insurance policy or insurance certificate). Notwithstanding the limitation set forth in the preceding sentence, if the related Mortgage Loan documents and the related Mortgage require the Mortgagor to maintain insurance against property damage resulting from terrorism or similar acts, the Master Servicer shall prior to availing itself of any limitation described in that sentence with respect to any Mortgage Loan (or any component loan of an A/B Mortgage Loan) that has a principal balance in excess of $2,500,000, obtain the approval or disapproval of the Special Servicer and the Operating Adviser (subject to the penultimate paragraph of Section 9.39). The Master Servicer shall be entitled to rely on the determination of the Special Servicer made in connection with such approval or disapproval. The Special Servicer shall decide whether to withhold or grant such approval in accordance with the Servicing Standard. If any such approval has not been expressly denied within seven (7) Business Days of receipt by the Special Servicer and Operating Adviser from the Master Servicer of the Master Servicer's determination and analysis and all information reasonably requested by the Special Servicer and reasonably available to the Master Servicer in order to make an informed decision, such approval shall be deemed to have been granted. The Master Servicer shall notify the holder of the related Serviced Companion Mortgage Loan of any determination that it makes pursuant to clauses (i) and (ii) above with respect to any Serviced Pari Passu Mortgage Loan.

Maintenance of Hazard Insurance. (a) The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan4.02. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III VI or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The EMC Master Servicer shall cause to be maintained maintained, for each EMC Mortgage Loan Loan, hazard insurance such that all on buildings upon upon, or comprising part of, the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser state where the Mortgaged Property is located. Each such policy of (i) the current principal balance standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The EMC Master Servicer shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)EMC Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance Pursuant to Section 1.05 of this Agreement with all reasonable rules and requirements of each insurer under Exhibit K, any such hazard policies. Any amounts to be collected by the EMC Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteEMC Master Servicer's normal servicing procedures) shall be deposited in the Custodial Protected Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the EMC Master Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related EMC Mortgage Loan, notwithstanding that the terms of such the EMC Mortgage Loan so permit. Such costs shall be recoverable by the EMC Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 1.08 of this Exhibit K. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the EMC Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the EMC Master Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such EMC Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser least of (i) the unpaid principal balance Stated Principal Balance of the related EMC Mortgage Loan and Loan, (ii) minimum amount required to compensate for damage or loss on a replacement cost basis or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the EMC Master Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the EMC Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.171.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the EMC Master Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.171.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Protected Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. Such deposit shall constitute a Servicing Advance. In connection with its activities as administrator and servicer of the EMC Mortgage Loans, the EMC Master Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. (a) The related Servicer shall cause to be maintained for each Mortgage Loan serviced by such Servicer hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The related Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The related Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the related Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that such Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the related Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.27. Any cost incurred by the related Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to related Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the related Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the related Servicer shall obtain and maintain a blanket policy with an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac, or having a General Policy Rating of B:III VI or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansLoans serviced by such Servicer, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the related Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the related Custodial Account maintained by such Servicer from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the related Mortgage Loans, the related Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. (a) The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan4.02. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III VI or better in Best’s 's Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located that conforms to the requirements of Fannie Mae or Freddie Mac. If the Mortgaged Property is in an arex xxxxtxxxed ix xxx Xederal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of Fannie Mae or Freddie Mac. The Servicer shall maintain on each REX Xxxxerty firx xxx xazard insurance with extended coverage, in an amount with respect to such hazards which is at least equal to the lesser full replacement cost of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that which are a part of such property on a replacement cost basis, REO Property and shall indemnify and hold harmless the Owner with respect to liabilities in each case connection therewith in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained at least $1 million per occurrence and $2 million in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesaggregate. Any amounts to be collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Accepted Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to Servicer, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in an amount equal or material change in coverage to the lesser Servicer. The Servicer shall not interfere with the Mortgagor's freedom of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such choice in selecting either its insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event carrier or agent; provided, however, that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or not accept any such other rating insurance policies that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall do not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit conform to the Custodial Account from its own funds without right requirements of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyFannie Mae or Freddie Mac.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer from the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and Faxxxx Xae or Frxxxxx Xac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the benefit of the Trustee and the Certificateholders, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer from the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and FNMA or FHLMC. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the benefit of the Trustee and the Certificateholders, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. (a) The Servicer shall cause will use its reasonable best efforts to be maintained for ensure that each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fireObligor maintains an Insurance Policy with respect to any tangible, hazards of extended coverage and such personal property Collateral (other hazards as are customary in the area where the Mortgaged Property is located than accounts receivable) in an amount which is at least equal to the lesser sum of (i) the current principal balance Outstanding Loan Balance of such Mortgage the related Eligible Loan and (ii) shall ensure that each such Insurance Policy names the amount necessary to Servicer as loss payee and as an insured thereunder and all of the Originator’s right, title and interest therein is fully compensate for any damage or loss assigned to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policyIndenture Trustee. Any payments by the Servicer for hazard insuranceAdditionally, other than as set forth with respect to unsecured Loans and Loans in which the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from sole collateral is the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availableObligor’s accounts receivable, the Servicer will cause require that each Obligor maintain property damage liability insurance during the term of each Loan in amounts and against risks customarily insured against by the Obligor on property owned by it. If an Obligor fails to be maintained a flood insurance policy maintain property damage insurance, the Servicer may in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan its discretion purchase and (ii) the maximum amount of maintain such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17behalf of, and there shall have been one or more losses which would have been covered by such policyat the expense of, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseObligor. In connection with its activities as administrator and servicer of the Mortgage LoansServicer, the Servicer agrees to prepare and present, on behalf of itselfthe Indenture Trustee, the Trustee Securityholders and the CertificateholdersHedge Counterparties, claims to the insurer under each Insurance Policy and any such blanket policy liability policy, and to settle, adjust and compromise such claims, in a timely fashion each case, consistent with the terms of each Loan. The Servicer’s Insurance Policies with respect to the Collateral will insure against liability for physical damage relating to such Collateral in accordance with the terms requirements of such policythe Credit and Collection Policy. The Servicer hereby disclaims any and all right, title and interest in and to any Insurance Policy and Insurance Proceeds with respect to any Collateral, including any Insurance Policy with respect to which it is named as loss payee and as an insured, and agrees that it has no equitable, beneficial or other interest in the Insurance Polices and Insurance Proceeds other than being named as loss payee and as an insured. The Servicer acknowledges that with respect to the Insurance Policies and Insurance Proceeds thereof that it is acting solely in the capacity as agent for the Indenture Trustee.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan Mortgaged Property and/or REO Property hazard insurance such that all buildings upon the each Mortgaged Property and/or REO Property are insured by a generally acceptable insurer Insurer acceptable to mortgage lending institutions against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property and/or REO Property is located located, in an amount which is at least equal to the lesser of (i) the current principal balance replacement value of the improvements securing such Mortgage Loan Mortgaged Property and/or REO Property and (ii) the greater of (a) the outstanding principal balance of the Mortgaged Property and/or REO Property and (b) an amount necessary such that the proceeds thereof shall be sufficient to fully prevent the Mortgagor or the loss payee from becoming a co-insurer. If the Mortgagor fails to maintain hazard insurance, Servicer shall, if the Mortgaged Property and/or REO Property is occupied, advance an amount sufficient to maintain the existing Mortgagor’s policy, which such advance shall be deemed a Servicing Advance. If such policy cannot be maintained, Servicer shall obtain such coverage, and the costs and expenses Servicer incurs for coverage shall be deemed a Servicing Advance. If the related Mortgaged Property and/or REO Property is located in an area identified by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), the Servicer shall cause to be maintained for such Mortgaged Property and/or REO Property a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect in an amount representing coverage equal to the lesser of (i) the minimum amount required, under the terms of coverage, to compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis; (ii) the unpaid balance of the related Mortgage; and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The cost of any flood insurance purchased by the Servicer pursuant to the foregoing shall be reimbursable as a Servicing Advance in each case accordance with the terms of this Agreement. If at any time during the term of the Mortgage Loan the Servicer determines in accordance with Applicable Requirements that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount not less than the amount required by the Flood Disaster Protection Act of 1973, as amended, Servicer shall, advance an amount sufficient to maintain the existing Mortgagor’s policy and notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the such flood insurance coverage within forty-five (45) days after such notification, the Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The costs and expenses Servicer incurs for such flood insurance coverage shall be a Servicing Advance. In the event that the Servicer shall determine that a Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. If a Mortgage Loan is necessary secured by a unit in a condominium project, Servicer shall use commercially reasonable efforts to avoid attempt to verify if the application insurance coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage is adequate under Accepted Servicing Practices, in an attempt to secure from the owner’s association its agreement to notify Servicer promptly of any co-material change in insurance clause contained in coverage or of any condemnation or casualty loss that may have a material effect on the related hazard insurance policy. Any payments by value of the Servicer for hazard insurance, other than Mortgaged Property as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagorsecurity. The Servicer will comply shall promptly notify the Owners in the performance event of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesmaterial change or cancellation or in the event that the Servicer is unable to verify the adequacy of the insurance coverage. Any All policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or New York mortgagee clauses, without contribution, which shall provide for at least thirty (30) days’ prior written notice to Servicer of any cancellation, reduction in amount or material change in coverage. Pursuant to Section 2.4, any amounts to be collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or amounts to be released to the Mortgagor subject to Mortgagor, in accordance with the terms and conditions of the related Mortgage and Mortgage NoteApplicable Requirements as specified in Section 2.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 3.042.5. Notwithstanding the foregoing, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer shall not interfere with the Mortgagor’s freedom of choice in maintaining selecting either his or her insurance carrier or agent, provided, however, that Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable to mortgage lending institutions. Servicer shall not, determine that such policies insure the property owner and that they properly describe the property address. Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the purpose of calculating distributions Mortgagor to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register arrange for renewal coverage by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyexpiration date.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located that conforms to the requirements of Fannie Mae or Freddie Mac. If the Mortgaged Property is in an area ixxxxxxixx in txx Xxxxral Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of Fannie Mae or Freddie Mac. The Servicer shall also maintain on REO Pxxxxxxy fire axx xxxxrd insurance with extended coverage in an amount which is at least equal to meets the lesser of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesFannie Mae or Freddie Mac. Any amounts to be collected by the Servicer under any undxx xxx such policies poxxxxxx (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Accepted Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to Servicer, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in an amount equal or material change in coverage to the lesser Servicer. The Servicer shall not interfere with the Mortgagor's freedom of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such choice in selecting either its insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event carrier or agent; provided, however, that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or not accept any such other rating insurance policies that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall do not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit conform to the Custodial Account from its own funds without right requirements of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyFannie Mae or Freddie Mac.

Maintenance of Hazard Insurance. The Other Insurance and Taxes Subject to the limitations set forth below, the Master Servicer shall use reasonable efforts consistent with the Servicing Standard to cause the related Mortgagor to be maintained maintain for each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by (other than any REO Property) (A) a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located Standard Hazard Insurance Policy which does not provide for reduction due to depreciation in an amount which that is at least equal to the lesser of (i) the current principal balance full replacement cost of improvements securing such Mortgage Loan and Serviced Companion Loan or (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part outstanding Principal Balance of such property on a replacement cost basisMortgage Loan, plus in the case of the Serviced Loan Group, the Serviced Companion Loan Principal Balance but, in each case any event, in an amount not less than the amount as is necessary sufficient to avoid the application of any co-insurance clause contained in clause, (B) any terrorism insurance coverage for a Mortgage Loan, which the related hazard insurance policy. Any payments by Mortgagor is required to maintain under the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)related Mortgage, to the extent not collected from that such insurance is available at a commercially reasonable rate and (C) any other insurance coverage for a Mortgage Loan which the related Mortgagor. The Mortgagor is required to maintain under the related Mortgage; provided the Master Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under shall not be required to maintain earthquake insurance on any such hazard policies. Any amounts to be collected Mortgaged Property required by the related Mortgage unless such insurance was required at origination and is available at a commercially reasonable rate; provided, however, that the Special Servicer under shall have the right, but not the duty, to obtain, at the Trust's expense, earthquake insurance on any Mortgaged Property securing a Specially Serviced Mortgage Loan or an REO Property so long as such policies (other than amounts to insurance is available at a commercially reasonable rate; provided, further, that a determination by the Master Servicer that terrorism insurance is not available at a commercially reasonable rate shall be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms approval of the Operating Adviser as set forth below. If the related Mortgagor does not maintain the insurance set forth in clauses (A), (B) and conditions (C) above, then the Master Servicer shall cause to be maintained such insurance with a Qualified Insurer and the payment of the cost of such insurance shall be a Servicing Advance; provided, that a determination by the Master Servicer that terrorism insurance should not be obtained on a force-placed basis shall be subject to the approval of the Operating Adviser as set forth below. Upon the Master Servicer's determination that terrorism insurance is not available at a commercially reasonable rate or that terrorism insurance should not be obtained on a force-placed basis, the Master Servicer shall notify the Operating Adviser. Other than with respect to the President Plaza Mortgage Loan (only for so long as the holder of the related Mortgage and Mortgage Note) B Note is the President Plaza Directing Lender), the Operating Adviser shall have five days after such notice to disapprove such determination. The failure of the Operating Adviser to provide notice of such disapproval in such time period shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurancedeemed approval. If the Operating Adviser provides such notice of disapproval within such time period, the Master Servicer shall obtain such insurance coverage and the cost of such insurance coverage shall be considered a Servicing Advance. Each Standard Hazard Insurance Policy maintained with respect to any Mortgaged Property or that is not an REO Property is at any time shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. If, on the date of origination, the improvements on the Mortgaged Property are located in an a designated special flood hazard area identified in the Federal Register by the Federal Emergency Management Agency in the Federal Register, as having special flood hazards and amended from time to time (to the extent permitted under the related Mortgage Loan or as required by law), the Master Servicer (with respect to any Mortgaged Property that is not an REO Property) shall cause flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereofmaintained. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and and, in the case of the Serviced Loan Group, plus the unpaid principal balance of the Serviced Companion Loan, or (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that program, if the area in which such the improvements on the Mortgaged Property is are located is participating in such program). In Any amounts collected by the event that Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the terms of the applicable Mortgage Loan) shall be deposited in the Certificate Account. Any cost (such as insurance premiums and insurance broker fees but not internal costs and expenses of obtaining such insurance) incurred by the Master Servicer in maintaining any insurance pursuant to this Section 8.6 shall obtain and maintain a blanket policy with an insurer having a General Policy Rating not, for the purpose of B:III calculating monthly distributions to the Certificateholders or better in Best’s Key Rating Guide (or such other rating that is comparable remittances to such rating) insuring against hazard losses on all the Paying Agent for their benefit, be added to the Principal Balance of the Mortgage LoansLoan, notwithstanding that the terms of the Mortgage Loan permit such cost to be added to the outstanding Principal Balance thereof. Such costs shall be paid as a Servicing Advance by the Master Servicer, subject to Section 4.4 hereof. Notwithstanding the above, the Master Servicer shall have no obligation beyond using its reasonable efforts consistent with the Servicing Standard to enforce such insurance requirements. Furthermore, the Master Servicer shall not be required in any event to maintain or obtain insurance coverage to the extent the Trustee as mortgagee does not have an insurable interest or beyond what is reasonably available at a commercially reasonable rate and consistent with the Servicing Standard. The Master Servicer shall notify the Trustee in the event it makes such determination. Notwithstanding the foregoing, such determination shall conclusively be deemed subject to have satisfied its obligations the approval of the Operating Adviser with respect to terrorism insurance, as set forth in the first two sentences paragraph of this Section 3.178.6 and, it being understood and agreed that such policy may contain with respect to the A/B Mortgage Loan, the related Intercreditor Agreement. In any event, any determination of the availability of insurance at a deductible clausecommercially reasonable rate in connection with a Mortgage Loan need not be made more frequently than annually, but in which case the Servicer shallany event, in the event that there shall not have been maintained be made on the approximate date on (but not later than sixty (60) days thereafter) which the Master Servicer receives notice of the renewal, replacement or cancellation of coverage (as evidenced by the related Mortgaged Property insurance policy or REO Property a policy complying with insurance certificate). In addition, the first two sentences of this Section 3.17, and there Master Servicer shall have been one or more losses which would have been covered by such policy, deposit be entitled to the Custodial Account from rely at its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of expense on insurance consultants in connection with any such deductible clausedetermination. In connection with its activities as administrator and servicer of no event shall the Mortgage Loans, the Master Servicer agrees be required to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under obtain any such blanket policy in insurance coverage that would require a timely fashion in accordance with the terms of such policyServicing Advance that constitutes a Nonrecoverable Advance.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Securitized Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the such Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Securitized Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.04(vii) or (x), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Securitized Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Securitized Loan, notwithstanding that the terms of such Mortgage Securitized Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Securitized Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansSecuritized Loans in a Trust, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.17 with respect to the Securitized Loans in such Trust, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause for the benefit of the related Trust. In connection with its activities as administrator and servicer of the Mortgage Securitized Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Trust and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy. Copies of such claims shall be provided to the Certificate Insurer.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Servicer will shall comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and Loan, (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Securitized Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the such Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Securitized Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.04(vii) or (x), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Securitized Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Securitized Loan, notwithstanding that the terms of such Mortgage Securitized Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Securitized Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer or the Sub-Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansSecuritized Loans in a Trust, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.17 with respect to the Securitized Loans in such Trust, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause for the benefit of the related Trust. In connection with its activities as administrator and servicer of the Mortgage Securitized Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Trust and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy. Copies of such claims shall be provided to the NIMs Insurer.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan (other than a Co-op Loan), fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such first lien Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. (a) (a) The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan4.02. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III VI or better in Best’s 's Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will shall comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Master Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and Loan, (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseProperty. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.105

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan (other than a Co-op Loan), fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by law, that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a first lien Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such first lien Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause which amount shall be deemed to be that in excess of $1500 not payable under the blanket policy (i.e. the amount deemed deductible under an individual policy). In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Master Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Principal Balance of the related Mortgage Loan and Loan; (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.

Maintenance of Hazard Insurance. The (a) Each Servicer shall cause to be maintained for each related Mortgage Loan hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the Each Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each related REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The Each Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the a Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that such Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the related Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.27. Any cost incurred by the a Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the related Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the a Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III VI or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the related Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the such Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the related Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the related Mortgage Loans, the each Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding principal balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.such

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan Loan, hazard insurance in a amount required pursuant to the Xxxxxx Xxx Guides, such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under the Xxxxxx Mae Guides against loss by fire, hazards of extended coverage and such other hazards as are customary in required to be insured pursuant to the area where Xxxxxx Xxx Guides. If the Mortgaged Property is located in an area identified in the Federal Register by the Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements or required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan is, and shall continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with a generally acceptable insurance carrier acceptable under the Xxxxxx Mae Guides in an amount which is at least equal to representing coverage not less than the lesser of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the aggregate unpaid principal balance of the related Mortgage Loan, notwithstanding (ii) maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended (regardless of whether the area in which such Mortgaged Property is located is participating in such program), and (iii) the full replacement value of the improvements which are part of such Mortgaged Property. If a Mortgage is secured by a unit in a condominium project, the Servicer shall verify that the terms coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and request from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such Mortgage Loan so permit. It is understood and agreed that no earthquake other or other additional insurance is to as may be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property , or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal pursuant to the lesser requirements of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Owner or the Servicer shall obtain determine that the Mortgaged Property should be insured against loss or damage by hazards and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable risks not covered by the insurance required to such rating) insuring against hazard losses on all be maintained by the Mortgagor pursuant to the terms of the Mortgage LoansMortgage, it the Servicer shall conclusively communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Servicer and its successors and assigns as a mortgagee and loss payee and shall be deemed endorsed with non contributory standard or New York mortgagee clauses which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are acceptable pursuant to have satisfied its obligations as set forth the Xxxxxx Mae Guides and are licensed to do business in the first two sentences of this Section 3.17, it being understood and agreed jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policy may contain policies provide sufficient risk coverage and amounts as required pursuant to the Xxxxxx Xxx Guides, that they insure the property owner, and that they properly describe the property address. The Servicer shall furnish to the Mortgagor a deductible clauseformal notice of expiration of any such insurance in conformance with Servicer’s standard practices; provided, in which case the Servicer shallhowever, that in the event that there no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies (whether forced placed or other insurance policies) are in place with the required coverage and the Servicer shall be solely liable for any losses in the event coverage is not have been maintained on provided. Pursuant to Section 2.06, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account or held in a suspense account) and applied to the restoration or repair of the related Mortgaged Property Property, or REO Property a policy complying property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the first two sentences of this Section 3.17, and there Accepted Servicing Practices shall have been one or more losses which would have been covered by such policy, deposit to be deposited in the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees subject to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policywithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. (a) The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property related to a Mortgage Loan in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the Custodial AccountAccount maintained by the Servicer, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan4.02. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property relating to a Mortgage Loan is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III VI or better in Best’s 's Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account maintained by the Servicer from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer from the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and Fannie Mae or Freddie Mac. It is understood and agreed that no earthquake or other additional insurance is to Other adxxxxxxax xnsurxxxx xxy be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Master Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Master Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.such

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan (other than a Co-op Loan), fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by law, that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is -70- understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause which amount shall be deemed to be that in excess of $1500 not payable under the blanket policy (i.e. the amount deemed deductible under an individual policy). In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan (other than a Co-op Loan), fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (i) the current replacement value of the improvements that are part of such Mortgaged Property, or (ii) the greater of (a) the outstanding principal balance of such the Mortgage Loan and (iib) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount necessary required under applicable HUD/FHA regulations. Each policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to fully compensate for any damage be maintained on property acquired upon foreclosure or loss to the improvements that are a part deed in lieu of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Securities Administrator for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such first lien Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor, the Master Servicer, the Trustee and the Securities Administrator for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. (a) The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon with extended coverage on the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such REO Property and (ii) the Stated Principal Balance of the related MortgagorMortgage Loan at the time it became an REO Property. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage NoteNote and in accordance with the servicing standard set forth in Section 3.01) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan3.27. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac, or having a General Policy Rating of B:III VI or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.05, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.173.05, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account maintained by the Servicer from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Securitized Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the such Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Securitized Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix3.04(vii) or (x), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Securitized Loan. Any cost M-1-33 incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Securitized Loan, notwithstanding that the terms of such Mortgage Securitized Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Securitized Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer or the Sub-Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s 's Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansSecuritized Loans in a Trust, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.173.17 with respect to the Securitized Loans in such Trust, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseclause for the benefit of the related Trust. In connection with its activities as administrator and servicer of the Mortgage Securitized Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee Trust and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy. Copies of such claims shall be provided to the NIMs Insurer.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each BANA Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the current outstanding principal balance of such owing on the BANA Mortgage Loan and (ii) an amount such that the amount necessary proceeds of such insurance shall be sufficient to fully compensate for any damage avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of Xxxxxx Xxx or Xxxxxxx Mac. The Servicer shall also maintain on REO Property serviced by it, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements that which are a part of such property on a replacement cost basisproperty, in each case in an amount not less than the amount as is necessary to avoid the application of any co-liability insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)and, to the extent not collected from the related Mortgagor. The Servicer will comply required, flood insurance in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesan amount required above. Any amounts to be collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the BANA Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Customary Servicing Procedures) shall be deposited in the BANA Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit2.10. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Mortgaged Property Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or REO Property material change in coverage to the Servicer. The hazard insurance policies for each BANA Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such BANA Mortgage Loan and the related development in a manner which is at any time in an area identified in consistent with Xxxxxx Mae requirements. Notwithstanding the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availableforegoing, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and may maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgaged Properties relating to the BANA Mortgage LoansLoans in lieu of maintaining the required hazard insurance policies for each BANA Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, it shall conclusively be deemed (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to have satisfied its obligations as set forth in the first two sentences aggregate unpaid principal balance on the related BANA Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.17, it being understood and agreed that 2.11. Any such blanket policy may contain a deductible clause, in which case the Servicer shall, in the event ; provided that there shall not have been maintained on the related if any Mortgaged Property or REO Property is not covered by a separate policy otherwise complying with the first two sentences of this Section 3.17, 2.11 and there shall have been one or more losses a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and presentshall deposit in the BANA Custodial Account the difference, on behalf of itselfif any, between the Trustee amount that would have been payable under a separate policy complying with this Section 2.11 and the Certificateholders, claims amount paid under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. (a) The Servicer shall cause will use its reasonable best efforts to be maintained for ensure that each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fireObligor maintains an Insurance Policy with respect to any tangible, hazards of extended coverage and such personal property Collateral (other hazards as are customary in the area where the Mortgaged Property is located than accounts receivable) in an amount which is at least equal to the lesser of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair sum of the property or amounts to be released to the Mortgagor subject to the terms and conditions Outstanding Loan Balance of the related Mortgage Eligible Loan and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by ensure that each such Insurance Policy names the Servicer in maintaining any such insurance shall notas loss payee and as an insured thereunder and all of the Originator's right, for the purpose of calculating distributions to Certificateholders, be added title and interest therein is fully assigned to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitIndenture Trustee. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availableAdditionally, the Servicer will cause require that each Obligor maintain property damage liability insurance during the term of each Loan in amounts and against risks customarily insured against by the Obligor on property owned by it. If an Obligor fails to be maintained a flood insurance policy maintain property damage insurance, the Servicer may in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan its discretion purchase and (ii) the maximum amount of maintain such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17behalf of, and there shall have been one or more losses which would have been covered by such policyat the expense of, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clauseObligor. In connection with its activities as administrator and servicer of the Mortgage LoansServicer, the Servicer agrees to prepare and present, on behalf of itselfthe Indenture Trustee, the Trustee Securityholders and the CertificateholdersHedge Counterparties, claims to the insurer under each Insurance Policy and any such blanket policy liability policy, and to settle, adjust and compromise such claims, in a timely fashion each case, consistent with the terms of each Loan. The Servicer's Insurance Policies with respect to the Collateral will insure against liability for physical damage relating to such Collateral in accordance with the terms requirements of such policythe Credit and Collection Policy. The Servicer hereby disclaims any and all right, title and interest in and to any Insurance Policy and Insurance Proceeds with respect to any Collateral, including any Insurance Policy with respect to which it is named as loss payee and as an insured, and agrees that it has no equitable, beneficial or other interest in the Insurance Polices and Insurance Proceeds other than being named as loss payee and as an insured. The Servicer acknowledges that with respect to the Insurance Policies and Insurance Proceeds thereof that it is acting solely in the capacity as agent for the Indenture Trustee.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan such Purchased Asset fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located by a Qualified Insurer in an amount which is at least equal to the lesser of (ia) the current full insurable value of the Mortgaged Property and (b) the outstanding principal balance of owing on such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurancePurchased Asset. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having a special flood hazards hazard area (and such flood insurance has been made available, ) the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be meeting the requirements of the National Flood Insurance Program, in an amount equal to representing coverage not less than the lesser of (iA) the unpaid minimum amount required under the terms of the coverage to compensate for any damage or loss to the Mortgaged Property on a replacement-cost basis (or the outstanding principal balance of the related Mortgage Loan and such Purchased Asset if replacement-cost basis is not available) or (iiB) the maximum amount of such insurance available for under the National Flood Insurance Program. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in trust accounts as escrow funds and applied to the restoration or repair of the property subject to the related Mortgaged Property under Mortgage or property acquired in liquidation of such Purchased Asset, or to be released to the national flood Mortgagor in accordance with Accepted Servicing Practices) shall be deposited in the Nomura Account. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to Servicer, and shall provide for at least [***] prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either its insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event carrier or agent; provided, however, that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under accept any such blanket policy in a timely fashion in accordance with the terms of insurance policies from insurance companies unless such policycompanies are Qualified Insurers.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan hazard (other than a Cooperative Loan) fire insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to not less than the lesser of (i) the current original principal balance of such Mortgage Loan and (ii) Loan, except in cases approved by the Master Servicer in which such amount necessary to fully compensate for any damage or loss exceeds the value of the improvements to the improvements that are Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a part comparable amount on property acquired upon foreclosure, or deed in lieu of such property on a replacement cost basisforeclosure, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, Mortgage Loan (other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ixa Cooperative Loan), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage NoteMortgaged Property) shall be deposited in into the Custodial AccountAccount for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.04, if received in respect of a Mortgage Loan3.03 and Section 3.05. Any cost unreimbursed costs incurred by the Servicer in maintaining any such insurance described in this Section 3.07 shall be recoverable as an advance by the Master Servicer or the applicable Servicer from the related Custodial Account for P&I, the Investment Account or the Certificate Account. Such insurance shall not, for be with insurers approved by the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitMaster Servicer and Xxxxxx Xxx or Xxxxxxx Mac. It is understood and agreed that no earthquake or other Other additional insurance is to may be required of any Mortgagor other than a Mortgagor, in addition to that required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If Where any part of any improvement to the Mortgaged Property or REO (other than a Mortgaged Property secured by a Cooperative Loan) is at any time located in an a federally designated special flood hazard area identified and in a community which participates in the Federal Register by National Flood Insurance Program at the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser time of (i) the unpaid principal balance origination of the related Mortgage Loan and (ii) Loan, the maximum amount of such insurance available for the related Mortgaged Property under the national Master Servicer shall cause flood insurance program (assuming that to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer or the area in which such Mortgaged Property is located is participating in such program). In the event that the applicable Servicer shall obtain and maintain a be responsible for paying any deductible amount on any such blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the The Master Servicer agrees to prepare and present, or cause to be presented, on behalf of itself, and for the Trustee and benefit of the CertificateholdersTrust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such blanket policy in a timely fashion in accordance with the terms of reasonable actions as shall be necessary to permit recovery under such policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located that conforms to the requirements of Fannie Mae or Freddie Mac. If the Mortgaged Property is in an axxx xxexxxfied xx xxx Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of Fannie Mae or Freddie Mac. The Servicer shall maintain on each XXX Xxoperty fxxx xxx hazard insurance with extended coverage, in an amount with respect to such hazards which is at least equal to the lesser full replacement cost of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that which are a part of such property on a replacement cost basis, REO Property and shall indemnify and hold harmless the Owner with respect to liabilities in each case connection therewith in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained at least $1 million per occurrence and $2 million in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesaggregate. Any amounts to be collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or amounts property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Accepted Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permitSubsection 11.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer of any Mortgagor or maintained on REO Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to Servicer, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in an amount equal or material change in coverage to the lesser Servicer. The Servicer shall not interfere with the Mortgagor's freedom of (i) the unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such choice in selecting either its insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event carrier or agent; provided, however, that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or not accept any such other rating insurance policies that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall do not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit conform to the Custodial Account from its own funds without right requirements of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyFannie Mae or Freddie Mac.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which amount, to the extent permitted by applicable law, that is at least equal to the lesser of (i) the current principal balance estimated replacement value of the improvements that are part of such Mortgage Loan Mortgaged Property which may be the last known coverage, and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount necessary to fully compensate for any damage or loss to such that the improvements that are a part proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to be maintained on property on a replacement cost basis, acquired upon foreclosure or deed in each case in an amount not less than the amount as is necessary to avoid the application lieu of foreclosure of any co-insurance clause contained in the related hazard insurance policy. Any payments by the Servicer for hazard insurance, other than as set forth in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix)Mortgage Loan, to the extent not collected from required under the related Mortgagorstandards described below. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 3.05 hereof, any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteServicer's normal servicing procedures) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Certificateholders or remittances to the Trustee for their benefit, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the a first lien Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an a federally designated special flood hazard area identified and such area is participating in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and national flood insurance has been made availableprogram, the Servicer will shall cause flood insurance to be maintained a flood insurance policy in with respect thereofto such Mortgage Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Mortgage Loan and Loan, (ii) the estimated replacement value of the improvements that are part of such Mortgaged Property which may be the last known coverage, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)Flood Disaster Protection Act of 1973, as amended. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.173.10, and there shall have been one or more losses which a loss that would have been covered by such policy, deposit to in the Custodial Collection Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Depositor and the Trustee and for the benefit of the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Servicer shall maintain or cause to be maintained for each Mortgage Loan and REO Property with insurance companies satisfactory to FNMA or FHLMC primary hazard insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser replacement value of (i) the current principal balance of such Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisimprovements, in each case in an amount not less than the amount as is necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Any payments determined by the Servicer for hazard insuranceinsurance company, other than as set forth in the last paragraph of this on such Mortgaged Property. Pursuant to Section 3.174.04, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), to the extent not collected from the related Mortgagor. The Servicer will comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with Customary Servicing Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan4.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage Loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property or REO Property is located at any the time of origination of the Mortgage Loan in an area identified in the Federal Register by the Federal Emergency Management Agency as having a federally designated special flood hazards and flood insurance has been made availablehazard area, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance replacement value of the related Mortgage Loan and improvements which are part of such Mortgaged Property, (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that regardless of whether the area in which such Mortgaged Property is located is participating in such program)) and (iii) the original face value of the Mortgage Loan securing such Mortgaged Property. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Company, or upon request to the Purchaser, and shall provide for at least thirty days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Company. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies currently reflect a General Policy Rating of A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located. In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgage LoansLoans in an amount consistent with Customary Servicing Procedures, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.174.10, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences sentence of this Section 3.174.10, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee itself and the CertificateholdersPurchaser, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy. Upon request of the Purchaser, the Company shall cause to be delivered to the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without thirty days prior written notice to the Purchaser.

Maintenance of Hazard Insurance. The For each Mortgage Loan that is a first-lien Mortgage Loan as of the Cut-off Date, and for each Mortgage Loan that is a second-lien Mortgage Loan as of the Cut-off Date and for which the Servicer is servicing the related first-lien Mortgage Loan hereunder, the Servicer shall cause to be maintained for each such Mortgage Loan hazard fire insurance such that all buildings upon with extended coverage on the related Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser least of (i) the current principal balance Stated Principal Balance of such Mortgage Loan and Loan, (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basisbasis and (iii) the maximum insurable value of the improvements which are a part of such Mortgaged Property, in each case in an amount not less than the such amount as is necessary to avoid the application of any co-insurance coinsurance clause contained in the related hazard insurance policy. Any payments by the The Servicer for hazard insurance, other than as set forth shall also cause to be maintained fire insurance with extended coverage on each REO Property in the last paragraph of this Section 3.17, shall be deemed Servicing Advances, reimbursable in accordance with Section 3.04(ix), an amount which is at least equal to the extent not collected from lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Stated Principal Balance of the related MortgagorMortgage Loan, plus accrued interest at the Mortgage Rate and related Servicing Advances (each measured at the time it became an REO Property). The Servicer will shall comply in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or amounts to be released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 3.043.05, if received in respect of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.13, if received in respect of an REO Property. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If For each Mortgage Loan that is a first-lien Mortgage Loan as of the Cut-off Date, and for each Mortgage Loan that is a second-lien Mortgage Loan as of the Cut-off Date and for which the Servicer is Servicing the related first-lien Mortgage Loan hereunder, if the related Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made availablehazards, the Servicer will shall cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance Stated Principal Balance of the related Mortgage Loan and Loan, (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). In ) and (iii) the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all maximum insurable value of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences improvements which are part of this Section 3.17, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with the first two sentences of this Section 3.17, and there shall have been one or more losses which would have been covered by such policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policyProperty.