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 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 Company 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 related Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser state where the related 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 Company 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 of this Agreement with all reasonable rules and requirements of each insurer under Pursuant to Section 5.01, any such hazard policies. Any amounts to be collected by the Servicer Company 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 NoteCompany’s normal servicing procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage LoanProtected Account maintained by the Company. Any cost incurred by the Servicer Company 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 EMC Mortgage Loan so permit. Such costs shall be recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 5.02. 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 related 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 Servicer will Company 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 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 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 3.173.07, 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 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 3.173.07, 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 maintained by the Company the amount not otherwise payable under the blanket policy because of such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with its activities as administrator and servicer of the EMC Mortgage Loans, the Servicer Company agrees to prepare and present, on behalf of itself, itself and the Trustee and for the Certificateholders, 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 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 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 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 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 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 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 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 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 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 is 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 maximum insurable value of the improvements securing such Mortgage Loan and or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If the Mortgaged Property is 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, the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration with a generally acceptable insurance carrier, in an amount necessary to fully compensate for any damage representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or loss (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on the 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 Flood Disaster Protection Act of 1973, as amended, flood insurance in the performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policiesan amount as provided above. 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 Mortgaged Property or amounts to be REO Property, or released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage Note) Servicer's normal 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 permit4.05. It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer or the Mortgagor or maintained on property acquired in respect of any Mortgagor the Mortgage Loans, other than pursuant to the Xxxxxx Xxx Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. If All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Mortgaged Property or REO Property is Servicer and its successors and/or assigns and shall provide for at least thirty days prior written notice of any time in an area identified cancellation, reduction 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 amount or material change in respect thereof. Such flood insurance shall be in an amount equal 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 his 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 not accept any such insurance policies from insurance companies unless such companies currently reflect a General Policy Rating of B:III or better in Best’s 's Key Rating Guide (or such other rating that is comparable currently acceptable to such rating) insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed Xxxxxx Mae and are licensed to have satisfied its obligations as set forth do business 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 state wherein 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 property subject 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 policyis located.

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 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 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 for each Mortgage Loan maintained, subject to the provisions of Section 5.08 hereof, 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 located, in an amount which is at least equal to the lesser least of (a) the outstanding principal balance owing on the Mortgage Loan and any Prior Lien, (b) the full insurable value of the premises securing the Mortgage Loan and (c) the minimum amount required to compensate for damage or loss on a replacement cost basis. If the Mortgaged Property is in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be purchased a flood insurance policy with a generally acceptable insurance carrier, in an amount representing coverage not less than the least of (i) the current outstanding principal balance of such the Mortgage Loan and any Prior Lien, (ii) the full insurable value of the Mortgaged Property, or (iii) the maximum amount necessary to fully compensate for any damage or loss to of insurance available under the improvements that are a part National Flood Insurance Act of such property on a replacement cost basis1968, 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 policyamended. Any payments by the 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)also maintain, to the extent not collected from the related Mortgagor. The Servicer will comply such insurance is available, on REO Property, fire and hazard insurance in the performance amounts described above, liability insurance and, to the extent required and available under the National Flood Insurance Act of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies1968, as amended, flood insurance in an amount equal to that required above. 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 Mortgaged Property, or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with customary second mortgage servicing procedures) shall be deposited in the Custodial applicable Principal and Interest 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 permit5.04. 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 in an amount equal endorsed with standard mortgagee clauses with losses payable 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 policyServicer.

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 (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 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 Servicer 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 Servicer 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 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 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 not accept any such insurance policies from insurance companies unless such companies are acceptable to Fxxxxx Mae or Fxxxxxx Mac and maintain 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 blanket policy unit in a condominium development or planned unit development shall be maintained 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 respect 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 Loan 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 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 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 by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac 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 Servicer 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 Servicer 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 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 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 not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae or Xxxxxxx Mac, and maintain 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 blanket policy unit in a condominium development or planned unit development shall be maintained 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 respect 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 Loan 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 policyXxxxxx Mae or Xxxxxxx Mac requirements.

Maintenance of Hazard Insurance. Maintenance of Primary ---------------------------------------------------------------------- Insurance Policies. ------------------- (a) The Servicer shall cause require Mortgagors to be maintained maintain, for each Mortgage Loan Loan, hazard insurance such that all buildings upon with extended coverage (i) in the Mortgaged Property are insured case of a Loan secured by a generally acceptable insurer against loss by fireMortgage creating a first lien on the related Mortgaged Property, hazards of 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 original principal balance of such Mortgage Loan or the maximum insurable value of the improvements on such Mortgaged Property, whichever is less, and (ii) in the amount necessary to fully compensate for any damage or loss to the improvements that are case of a part of such property on a replacement cost basisSecond Lien Loan, in each case in an amount not less than equal to the amount as is necessary to avoid lesser of the application combined principal balance of any co-insurance clause contained in such Second Lien Loan and the related first lien mortgage loan or the maximum insurable value of the improvements on the related Mortgaged Property. Each such policy of standard hazard insurance policy. Any payments by the Servicer for hazard insuranceshall contain, other than as set forth in the last paragraph of this Section 3.17or have an accompanying endorsement that contains, 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 policiesa standard mortgagee clause. 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 property improvements on the related Mortgaged Property 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 Certificate 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 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 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 cause shall require the related Mortgagor to be maintained a maintain flood insurance policy in with respect thereofto such Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid original principal balance of the related Loan. (b) The Servicer shall not be required to have Mortgagors maintain any Primary Mortgage Loan Insurance Policy with respect to any Loan, but may do so as allowed by law, and (ii) shall allow the maximum amount cancellation of any such insurance available Primary Mortgage Insurance Policy as required by law. The Servicer shall not take any action which would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but 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 actions of the Mortgage LoansServicer, 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 thereunder. If any Mortgagor fails to pay the premiums for its Primary Mortgage Insurance Policy, if any, the Servicer may, but shall not be required to, pay such premiums. Any payment made by such policy, deposit the Servicer pursuant to this Section 3.09(b) shall be recoverable as a Servicing Advance 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. extent permitted by Section 3.08. (c) In connection with its activities as administrator and servicer Servicer of the Mortgage Loans, the Servicer agrees to prepare and present, present on behalf of itself, the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such blanket policy reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Loans. Any amounts collected by the Servicer under any Primary Mortgage Insurance Policies shall be deposited in a timely fashion in accordance with the terms of such policyCertificate Account.

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 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 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 by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac, as applicable, in an amount that is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property, or (b) the greater of (i) the outstanding principal balance 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 Servicer will cause to be maintained a flood insurance policy meeting the requirements of the National Flood Insurance Program, in an amount representing coverage not less than the lesser of (A) the 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 Mortgage Loan if replacement-cost basis is not available) or (B) the maximum amount of insurance available under the National Flood Insurance Program. The Servicer shall also maintain on REO Property fire and hazard insurance with extended coverage in an amount which is at least equal to the lesser maximum insurable 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 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 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 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 Servicer, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to the Mortgaged Property Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either its insurance carrier or REO Property is at any time in an area identified in the Federal Register 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 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 Note or applicable law, the Servicer shall obtain not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae or Xxxxxxx Mac, as applicable, and maintain 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 blanket policy unit in a condominium development or planned unit development shall be maintained 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 respect 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 Loan 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, 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 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 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. Copies of such claims shall be provided to the NIMs Insurer.

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 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 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. (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. (b) The Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of the Servicer’s obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Xxxxxx Xxx or Xxxxxxx Mac if it were the purchaser of the Mortgage Loans, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall provide the Master Servicer, upon request, with copies of such insurance policies and fidelity bond (or waiver thereof). The Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall be deemed to have complied with this provision if an Affiliate of the Servicer has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to the Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days’ prior written notice to the Master Servicer. The Servicer shall also cause its subservicers to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

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 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 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 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 '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. (b) The Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of the Servicer's obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Xxxxxx Xxx or Xxxxxxx Mac if it were the purchaser of the related Mortgage Loans, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall provide the Trustee, upon request, with copies of such insurance policies and fidelity bond. The Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall be deemed to have complied with this provision if an Affiliate of the Servicer has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to the Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days' prior written notice to the Trustee. The Servicer shall also cause its subservicers to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

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. (b) The related Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of such Servicer’s obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac if it were the purchaser of the Mortgage Loans, unless such Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The related Servicer shall provide the Master Servicer, upon request, with copies of such insurance policies and fidelity bond (or waiver thereof). The related Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac, unless such Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The related Servicer shall be deemed to have complied with this provision if one of its Affiliates has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to such Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty (30) days’ prior written notice to the Master Servicer. The related Servicer shall also cause its Subservicers to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

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 by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac 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 Servicer 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 Servicer 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 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 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 not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae and maintain Xxxxxxx Mac 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 blanket policy unit in a condominium development or planned unit development shall be maintained 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 respect 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 Loan 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 policyXxxxxx Mae or Xxxxxxx Mac requirements.

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 Master Servicer shall enforce the obligations of the Servicer (to the extent provided by the ECC Capital Servicing Agreement) to 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 maximum insurable value of the improvements securing such Mortgage Loan 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 Master Servicer shall also enforce any obligation of the Servicer under the ECC Capital Servicing Agreement to 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 Master Servicer or by the Servicer (to the extent provided by the ECC Capital Servicing Agreement) 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 Master Servicer’s or 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 Master Servicer or the Servicer (to the extent provided for by the ECC Capital Servicing Agreement) in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholdersthe Noteholders or remittances to the Indenture 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 Master Servicer or the Servicer (to the extent provided for by the ECC Capital Servicing Agreement) 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 Master Servicer will shall enforce the obligation of the Servicer (to the extent provided in the ECC Capital Servicing Agreement), to 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). In the event that the Servicer shall obtain and maintain a blanket policy with an insurer having a General Policy Rating Flood Disaster Protection Act 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 Loans1973, 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 policyamended.

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 Company shall cause to be maintained maintained, for each 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 related Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser state where the related 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 Company 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)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 5.01, any such hazard policies. Any amounts to be collected by the Servicer Company 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 NoteCompany’s normal servicing procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage LoanProtected Account maintained by the Company. Any cost incurred by the Servicer Company 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 Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.09. 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 related 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 Company 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 least of (i) the unpaid principal balance Stated Principal Balance of the related 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 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 3.173.05, 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 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 3.173.05, 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 maintained by the Company the amount not otherwise payable under the blanket policy because of such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer Company 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 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 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 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 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 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. Maintenance of ----------------------------------------------- Primary Insurance Policies. -------------------------- (a) The Master 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 maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (y) the outstanding principal balance of such the Mortgage Loan and (iiz) an amount such that the amount necessary to fully compensate for any damage or loss to the improvements that are a part proceeds of such property on policy shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming 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 insurer. Each such policy of standard hazard insurance policy. Any payments by the Servicer for hazard insuranceshall contain, other than as set forth in the last paragraph of this Section 3.17or have an accompanying endorsement that contains, 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 policiesa standard mortgagee clause. Any amounts to be collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the property related Mortgaged Property or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteMaster Servicer's normal servicing procedures) shall be deposited in the Custodial Certificate Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the 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 Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Master 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 Master 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 least of (i) the unpaid original principal balance of the related Mortgage Loan Loan, (ii) the replacement value of the improvements which are part of such Mortgaged Property, and (iiiii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program program. (assuming that the area in which such Mortgaged Property is located is participating in such program). b) In the event that the 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 Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.17Section, 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 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 3.17Section, 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 Certificate 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 Master Servicer of the Mortgage Loans, the 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. (c) The Master Servicer shall not take any action which would result in non-coverage under any applicable Primary Insurance Policy of any loss which, but for the actions of the Master Servicer, would have been covered thereunder. The Master Servicer shall not cancel or refuse to renew any such Primary Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for such canceled or non-renewed policy in is maintained with a timely fashion in accordance Qualified Insurer. The Master Servicer shall not be required to maintain any Primary Insurance Policy (i) with respect to any Mortgage Loan with a Loan-to-Value Ratio less than or equal to 80% as of any date of determination or, based on a new appraisal, the terms principal balance of such policyMortgage Loan represents 80% or less of the new appraised value or (ii) if maintaining such Primary Insurance Policy is prohibited by applicable law. The Master Servicer agrees to effect the timely payment of the premiums on each Primary Insurance Policy, and such costs not otherwise recoverable shall be recoverable by the Master Servicer from the related liquidation proceeds. (d) In connection with its activities as Master Servicer of the Mortgage Loans, the Master Servicer agrees to present on behalf of itself, the Trustee and Certificateholders, claims to the insurer under any Primary Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Insurance Policies respecting defaulted Mortgage Loans. Any amounts collected by the Master Servicer under any Primary Insurance Policies shall be deposited in the Certificate Account.

Maintenance of Hazard Insurance. The Except as otherwise allowed under Section 2.11, the Servicer shall cause to be maintained for each Mortgage Loan secured by a first lien on the related Mortgaged Property hazard insurance insurance, subject to reimbursement as a Servicing Advance in accordance with the terms of this Agreement, such that all buildings upon the Mortgaged Property are insured by a generally an Insurer acceptable insurer under Accepted Servicing Practices against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the current principal balance maximum insurable value of the improvements securing 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 outstanding principal balance of the related Mortgage Loan. The Servicer is not responsible for maintaining such hazard insurance with respect to Mortgage Loans secured by second liens. In the event a hazard insurance policy shall be in danger of being terminated, notwithstanding that or in the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is event the Insurer shall cease to be required acceptable under Accepted Servicing Practices, the Servicer shall notify the Owner and the related Mortgagor, and shall use commercially reasonable efforts, as permitted by applicable law, to obtain from another Qualified Insurer a replacement hazard insurance policy that meets the criteria set forth in this Section 2.10. For purposes of any Mortgagor other than pursuant to this Agreement, the Owner acknowledges and agrees that an Insurer shall not be disqualified as an “Insurer acceptable under Accepted Servicing Practices” merely because such applicable laws and regulations as shall at any time be in force and as shall require such additional insuranceInsurer is an affiliate of the Servicer. If the related Mortgaged Property or REO Property is at any time located in an area identified in the Federal Register by the Federal Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), the Servicer will shall cause to be maintained for such Mortgage Property a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in respect thereof. Such flood insurance shall be effect with an Insurer acceptable under Accepted Servicing Practices 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 on a replacement cost basis; (ii) the unpaid principal balance of the related Mortgage Loan Mortgage; and (iiiii) the maximum amount of such insurance which is available for under the related 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 accordance with the terms of this Agreement. If a Mortgage is secured by a unit in a condominium project, the Servicer shall verify that the coverage required of the owners association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with Accepted Servicing Practices, and shall use its commercially reasonable efforts to secure from the owners 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 under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program)as security. 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 as loss payee and shall be deemed endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (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 or her insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are acceptable under Accepted Servicing Practices and are licensed to have satisfied its obligations do business in the jurisdiction in which the Mortgaged Property is located. The Servicer shall determine whether such policies provide sufficient risk coverage and amounts as set forth in herein and whether they insure 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 and properly describe 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 address 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 policyMortgaged Property.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan maintained, subject to the provisions of Section 5.08 hereof, 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 located, in an amount which is at least equal to the lesser least of (a) the outstanding principal balance owing on the Home Improvement Loan and any Prior Lien, (b) the full insurable value of the premises securing the Home Improvement Loan and (c) the minimum amount required to compensate for damage or loss on a replacement cost basis. If the Mortgaged Property is in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be purchased a flood insurance policy with a generally acceptable insurance carrier, in an amount representing coverage not less than the least of (i) the current outstanding principal balance of such Mortgage the Home Improvement Loan and any Prior Lien, (ii) the full insurable value of the Mortgaged Property, or (iii) the maximum amount necessary to fully compensate for any damage or loss to of insurance available under the improvements that are a part National Flood Insurance Act of such property on a replacement cost basis1968, 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 policyamended. Any payments by the 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)also maintain, to the extent not collected from the related Mortgagor. The Servicer will comply such insurance is available, on REO Property, fire and hazard insurance in the performance amounts described above, liability insurance and, to the extent required and available under the National Flood Insurance Act of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies1968, as amended, flood insurance in an amount equal to that required above. 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 Mortgaged Property, or amounts to be released to the Mortgagor subject to the terms and conditions of the related Mortgage and Mortgage Notein accordance with customary second mortgage servicing procedures) shall be deposited in the Custodial applicable Principal and Interest 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 permit5.04. 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 in an amount equal endorsed with standard mortgagee clauses with losses payable 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 policyServicer.

Maintenance of Hazard Insurance. (a) The Master Servicer shall cause to be maintained maintained, for each 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 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)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 4.02 hereof, any such hazard policies. Any amounts to be collected by the 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 NoteMaster Servicer's normal servicing procedures) shall be deposited in the Custodial Master Servicer Collection Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the 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 Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 4.03 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 Master 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 least of (i) the unpaid principal balance Stated Principal Balance of the related 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 Flood Disaster Protection Act of 1973, as amended. (assuming that the area in which such Mortgaged Property is located is participating in such program). b) In the event that the 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 Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.09, 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 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 3.173.09, 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 Master Servicer Collection 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 Mortgage Loans, the 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. 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 xxxxxixxxd in xxx Xxderal 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 Xxxxxrty fire xxx xxzard 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 uxxxx xny such policies xxxxxxxs (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 (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. 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. Maintenance of ----------------------------------------------- Primary Insurance Policies. -------------------------- (a) The Master 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 maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (y) the outstanding principal balance of such the Mortgage Loan and (iiz) an amount such that the amount necessary to fully compensate for any damage or loss to the improvements that are a part proceeds of such property on policy shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming 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-insurer. Each such policy of standard hazard insurance clause contained in shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. To the extent it may do so without breaching the related hazard insurance policy. Any payments by Servicing Agreement, the Master Servicer for hazard shall replace any Servicer that does not cause such 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 policiesit is available, to be maintained. Any amounts to be collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the property related Mortgaged Property or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteMaster Servicer's normal servicing procedures) shall be deposited in the Custodial Certificate Account or the related Servicing Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loanas applicable. Any cost incurred by the Master Servicer or any 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. It is understood and agreed that no earthquake or other additional insurance is to Such costs shall 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 recoverable by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, Master Servicer out of late payments by the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be in an amount equal related Mortgagor or out of Liquidation Proceeds 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 extent permitted by 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 policy3.

Maintenance of Hazard Insurance. (a) The Servicer will use its reasonable best efforts to ensure that each Obligor maintains an Insurance Policy with respect to any tangible, personal property Collateral (other than accounts receivable) in an amount at least equal to the sum of the Outstanding Loan Balance of the related Eligible Loan and shall cause ensure that each such Insurance Policy names the Servicer as loss payee and as an insured thereunder and all of the Originator’s right, title and interest therein is fully assigned to be maintained the Indenture Trustee. Additionally, other than with respect to unsecured Loans and Loans in which the sole collateral is the related Obligor’s accounts receivable, the Servicer will 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 maintain property damage insurance, the Servicer may in its discretion purchase and maintain such insurance on behalf of, and at the expense of, the Obligor. In connection with its activities as Servicer, the Servicer agrees to present, on behalf of the Indenture Trustee, the Securityholders and the Hedge Counterparties, claims to the insurer under each Insurance Policy and any such liability policy, and to settle, adjust and compromise such claims, in 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 requirements of the 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. (b) Notwithstanding Section 5.05(a), in the case of each Material Mortgage Loan Loan, the Servicer shall comply with the Credit and Collection Policy concerning the issuance and maintenance of 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 located. If at origination of a Loan, to the best of the Servicer’s knowledge after reasonable investigation, the related Mortgaged Property is in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) consistent with the Credit and Collection Policy, the Servicer will require the related Obligor or other creditors to purchase a flood insurance policy covering each piece of property that is material with a generally acceptable insurance carrier, in an amount which is at representing coverage not less than the least equal to the lesser of (i) the current principal balance full insurable value of such Mortgage Loan and the Mortgaged Property that is material, or (ii) the maximum amount necessary to fully compensate for any damage or loss to of insurance available under the improvements that are a part National Flood Insurance Act of such property on a replacement cost basis1968, 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 policyamended. Any payments by the 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)also maintain, to the extent not collected from such insurance is available, and required by the related Mortgagor. The Servicer will comply Credit and Collection Policy, on Foreclosed Property constituting real property that is material, fire and hazard insurance in the performance of this Agreement with all reasonable rules amounts described above and requirements of each insurer under any such hazard policies. liability insurance. (c) Any amounts to be collected by the Servicer under any such policies Insurance Policies (other than amounts to be applied to the restoration or repair of the property Collateral, or amounts to be released to the Mortgagor subject to Obligor or other creditors in accordance with Requirements of Law or the terms and conditions of the related Mortgage and Mortgage Notegoverning documents) shall be deposited in the Custodial Principal and Interest 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 permit7.03(h). It is understood and agreed that no earthquake or other additional insurance is to need be required by the Servicer of any Mortgagor Obligor or other creditors or maintained on Foreclosed Property, other than pursuant to such applicable laws Requirements of Law and regulations as shall at any time be in force and as shall require such additional insurance. If All policies required hereunder (unless the Mortgaged Property or REO Property Seller 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, a non–agent co–lender with respect to such Loan) shall be endorsed with standard mortgagee clauses with losses payable to 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 policyAffiliates.

Maintenance of Hazard Insurance. Maintenance of ----------------------------------------------- Primary Insurance Policies. -------------------------- (a) The Master 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 maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (y) the outstanding principal balance of such the Mortgage Loan and (iiz) an amount such that the amount necessary to fully compensate for any damage or loss to the improvements that are a part proceeds of such property on policy shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming 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 insurer. Each such policy of standard hazard insurance policy. Any payments by the Servicer for hazard insuranceshall contain, other than as set forth in the last paragraph of this Section 3.17or have an accompanying endorsement that contains, 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 policiesa standard mortgagee clause. Any amounts to be collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the property related Mortgaged Property or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteMaster Servicer's normal servicing procedures) shall be deposited in the Custodial Certificate Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the 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 Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries 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 Master 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 least of (i) the unpaid original principal balance of the related Mortgage Loan Loan, (ii) the replacement value of the improvements which are part of such Mortgaged Property, and (iiiii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program program. (assuming that the area in which such Mortgaged Property is located is participating in such program). In the event that the b) The Master Servicer shall obtain and maintain a blanket policy with an insurer having a General not take any action which would result in non-coverage under any applicable Primary Insurance 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 any loss which, but for the actions of the Mortgage LoansMaster Servicer, 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 thereunder. The Master Servicer shall not cancel or refuse to renew any such Primary Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for such canceled or non-renewed policy is maintained with a Qualified Insurer. Except with respect to any Lender PMI Mortgage Loans, the Master Servicer shall not be required to maintain any Primary Insurance Policy (i) with respect to any Mortgage Loan with a Loan-to-Value Ratio less than or equal to 80% as of any date of determination or, based on a new appraisal, the principal balance of such Mortgage Loan represents 80% or less of the new appraised value or (ii) if maintaining such Primary Insurance Policy is prohibited by such policy, deposit applicable law. With respect to the Custodial Account from its own funds without right Lender PMI Mortgage Loans, the Master Servicer shall maintain the Primary Insurance Policy for the life of reimbursement such Mortgage Loans, unless otherwise prohibited by law. The Master Servicer agrees to effect the amount timely payment of the premiums on each Primary Insurance Policy, and such costs not otherwise payable under recoverable shall be recoverable by the blanket policy because of such deductible clause. Master Servicer from the related liquidation proceeds and Subsequent Recoveries. (c) In connection with its activities as administrator and servicer Master Servicer of the Mortgage Loans, the Master Servicer agrees to prepare and present, present on behalf of itself, the Trustee and the Certificateholders, claims to the insurer under any Primary Insurance Policies and, in this regard, to take such blanket policy reasonable action as shall be necessary to permit recovery under any Primary Insurance Policies respecting defaulted Mortgage Loans. Any amounts collected by the Master Servicer under any Primary Insurance Policies shall be deposited in a timely fashion in accordance with the terms of such policyCertificate Account.

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. (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. (b) The Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of the Servicer’s obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Xxxxxx Xxx or Xxxxxxx Mac if it were the purchaser of the related Mortgage Loans, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall provide the Master Servicer, upon request, with copies of such insurance policies and fidelity bond. The Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall be deemed to have complied with this provision if an Affiliate of the Servicer has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to the Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days’ prior written notice to the Master Servicer. The Servicer shall also cause its subservicers to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

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. 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 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 (and, in the area where case of a Second Mortgage Loan, on the Mortgaged Property related first mortgage loan), whichever is located less. The Company shall also maintain on property acquired upon foreclosure, or by deed in 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. To the extent provided 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(ix3.02(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 to in respect of the Mortgage Loans shall be applied credited 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) Loan Payment Record. Such costs shall be deposited in recoverable by the Custodial Account, subject to withdrawal Company pursuant to Section 3.04. In cases in which property securing any Mortgage Loan is located in a federally designated flood area, if received the hazard insurance to be maintained for such Mortgage Loan shall include flood insurance. All such flood insurance shall be in such amounts as are required under applicable guidelines of FNMA. The Company shall be under no obligation to require that any Mortgagor maintain earthquake or other additional insurance and shall be under no obligation itself to 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 (a) GMACM shall cause to be maintained for each GMACM 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 GMACM 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 Servicer for GMACM shall also cause to be maintained hazard insurance, other than as set forth insurance with extended coverage on each REO Property related to a GMACM 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 MortgagorGMACM Mortgage Loan at the time it became an REO Property. The Servicer GMACM 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 GMACM 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 GMACM 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 GMACM, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan4.02. Any cost incurred by the Servicer GMACM 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 GMACM Mortgage Loan, notwithstanding that the terms of such GMACM 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 GMACM 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 GMACM 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 GMACM 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 GMACM 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 GMACM 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 GMACM 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 GMACM 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 GMACM 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. (b) GMACM shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of GMACM's obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Fannie Mae or Freddie Xxx xx xx were xxx xxrchaser of the related GMACM Mortgage Loans, unless GMACM has obtained a waiver of such requirements from Fannie Mae or Freddie Xxx. XMACM shaxx xxxxide the Trustee, upon request, with copies of such insurance policies and fidelity bond. GMACM shall also maintain a fidelity bond in the form and amount that would meet the requirements of Fannie Mae or Freddie Xxx, xnless GMXXX xxx obtained a waiver of such requirements from Fannie Mae or Freddie Xxx. XMACM shaxx xx xeemed to have complied with this provision if an Affiliate of GMACM has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to GMACM. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days' prior written notice to the Trustee. GMACM shall also cause its subservicers to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

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 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 maximum insurable value of the improvements securing such Mortgage Loan 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 property on policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a replacement cost basisco-insurer. Each such policy of standard hazard insurance shall contain, in each case in or have an amount not less than accompanying endorsement that contains, a standard mortgagee clause. The Master Servicer shall administer the amount as MGIC Policy when it is necessary to avoid make claims and receive payments under the application MGIC Policy. The Master Servicer shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in 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 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 NoteMaster Servicer's normal servicing procedures) shall be deposited in the Custodial Certificate Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the 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 Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Master 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 Master 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 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 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 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 3.173.10, 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 Certificate 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 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. 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. Maintenance of Primary -------------------------------------------------------- Insurance Policies. ------------------ (a) The Master 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 maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (y) the outstanding principal balance of such the Mortgage Loan and (iiz) an amount such that the amount necessary to fully compensate for any damage or loss to the improvements that are a part proceeds of such property on policy shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming 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 insurer. Each such policy of standard hazard insurance policy. Any payments by the Servicer for hazard insuranceshall contain, other than as set forth in the last paragraph of this Section 3.17or have an accompanying endorsement that contains, 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 policiesa standard mortgagee clause. Any amounts to be collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the property related Mortgaged Property or amounts to be released to the Mortgagor subject to in accordance with the terms and conditions of the related Mortgage and Mortgage NoteMaster Servicer's normal servicing procedures) shall be deposited in the Custodial Certificate Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage Loan. Any cost incurred by the 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 Mortgage Loan, notwithstanding that the terms of such the Mortgage Loan so permit. Such costs shall be recoverable by the Master 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 Master 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 least of (i) the unpaid original principal balance of the related Mortgage Loan Loan, (ii) the replacement value of the improvements which are part of such Mortgaged Property, and (iiiii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program program. (assuming that the area in which such Mortgaged Property is located is participating in such program). b) In the event that the 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 Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.17Section, 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 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 3.17Section, 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 Certificate 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 Master Servicer of the Mortgage Loans, the 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. (c) The Master Servicer shall not take any action which would result in non-coverage under any applicable Primary Insurance Policy of any loss which, but for the actions of the Master Servicer, would have been covered thereunder. The Master Servicer shall not cancel or refuse to renew any such Primary Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for such canceled or non-renewed policy in is maintained with a timely fashion in accordance Qualified Insurer. Except with respect to any Lender PMI Mortgage Loans, the terms Master Servicer shall not be required to maintain any Primary Insurance Policy (i) with respect to any Mortgage Loan with a Loan-to-Value Ratio less than or equal to 80% as of any date of determination or, based on a new appraisal, the principal balance of such policyMortgage Loan represents 80% or less of the new appraised value or (ii) if maintaining such Primary Insurance Policy is prohibited by applicable law. With respect to the Lender PMI Mortgage Loans, the Master Servicer shall maintain the Primary Insurance Policy for the life of such Mortgage Loans. The Master Servicer agrees to effect the timely payment of the premiums on each Primary Insurance Policy, and such costs not otherwise recoverable shall be recoverable by the Master Servicer from the related liquidation proceeds. (d) In connection with its activities as Master Servicer of the Mortgage Loans, the Master Servicer agrees to present on behalf of itself, the Trustee and Certificateholders, claims to the insurer under any Primary Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Insurance Policies respecting defaulted Mortgage Loans. Any amounts collected by the Master Servicer under any Primary Insurance Policies shall be deposited in the Certificate Account.

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. (b) The Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of its obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac if it were the purchaser of the Mortgage Loans, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall provide the Master Servicer, upon request, with copies of such insurance policies and fidelity bond (or waiver thereof). The Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac, unless the Servicer has obtained a waiver of such requirements from Xxxxxx Mae or Xxxxxxx Mac. The Servicer shall be deemed to have complied with this provision if one of its Affiliates has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to the Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty (30) days’ prior written notice to the Master Servicer. The Servicer shall also cause its subservicers to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan which is not a Second Lien Group II HELOC, 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 related Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser state where the related 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 Company shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of such foreclosure of any EMC Mortgage Loan and (ii) the amount necessary to fully compensate for any damage or loss to the improvements that are which is not 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)Second Lien Group II HELOC, to the extent not collected from the related Mortgagordescribed below. The Servicer will comply Company shall cause to be maintained hazard insurance and flood insurance in accordance with the performance requirements of this Agreement with all reasonable rules and requirements Section 3.05 on any First Lien Group II HELOC only if the Company is aware of each insurer under the first lien position of such First Lien Group II HELOC. Pursuant to Section 5.01, any such hazard policies. Any amounts to be collected by the Servicer Company 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 NoteCompany’s normal servicing procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04, if received in respect of a Mortgage LoanProtected Account maintained by the Company. Any cost incurred by the Servicer Company 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 EMC Mortgage Loan so permit. Such costs shall be recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 5.02. 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 related 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 Servicer will Company shall cause flood insurance to be maintained a with respect to such EMC Mortgage Loan. The Company shall have no obligation to cause flood insurance policy in respect thereofto be maintained on any Second Lien Group II HELOC. 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 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 EMC Mortgage Loans, excluding the Second Lien Group II HELOCs, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences sentence of this Section 3.173.05, 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 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 3.173.05, 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 maintained by the Company the amount not otherwise payable under the blanket policy because of such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with its activities as administrator and servicer of the EMC Mortgage Loans, the Servicer Company agrees to prepare and present, on behalf of itself, itself and the Trustee and for the Certificateholders, benefit of the Certificateholders claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.