Common use of Maintenance of Hazard Insurance Clause in Contracts

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s 's association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.16) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and or Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with with, at a minimum, the then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.03, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: “V” or better in the current Best’s Key Rating Guide (“Best’s”) or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityServicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI rated: V or better in Best’s Key Rating Guide or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit; provided, however, that the limitations contained in this sentence will not apply to modifications made pursuant to Section 3.05(b). Such costs shall constitute a Servicing Advance and will be reimbursable to the Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer’s funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) With respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of such premiums, and such costs shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer shall prepare and present, on behalf of itself, the Depositor, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the related Mortgagor to be applied to the restoration or repair of the related Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics’ and materialmen’s liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and or Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.03, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and or Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable an insurer acceptable under that conforms with the Xxxxxx Xxx Guides and Xxxxxxx Mac guidelines 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 the Mortgaged Property is locatedXxxxxx Xxx Guides or Xxxxxxx Mac Guides, in an amount which is at least equal to the lesser of least of: (i) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and Loan; or (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer; or (iii) the amount determined by applicable federal or state law. If the Mortgagor fails to provide Mortgage Loan hazard insurance coverage after thirty (30) days of Servicer’s written notification, the Servicer may force place such hazard insurance coverage on the Mortgagor’s behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed hazard insurance coverage shall be deemed a Servicing Advance. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency (“FEMA”) as having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable an insurance carrier rated B:VI or better in that meets the current edition requirements of Best’s Key Rating Guide the Xxxxxx Xxx Guides and the Xxxxxxx Mac Guides 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) ), and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae FEMA Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must to obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed flood insurance coverage shall be deemed a Servicing Advance. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the ownerOwner’s association, including hazard, flood, liability, and fidelity coverage, coverage is being maintained in accordance with then the current Xxxxxx Xxx requirements, and secure from the ownerOwner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Owner or the Special Servicer shall determine that the 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 Special Servicer shall may, at its discretion, 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 Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable under the Xxxxxx Mae Guides and Xxxxxxx Mac Guides and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property ownerproperty, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for conformance with Servicer’s standard practices; provided, however, that in the Mortgagor to arrange for renewal coverage event that no such notice is furnished by the expiration dateServicer, 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 provided. Pursuant to Section 3.043.04 of this Agreement, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing Servicing procedures as specified in Section 3.153.14 of this Agreement) shall be deposited in the Custodial Collection Account subject to withdrawal pursuant to Section 3.053.05 of this Agreement.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan First Lien Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under the Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 the Mortgaged Property is locatedFannie Mae Guides, in an amount which is at least equal to the lesser of (i) the replacement maximum insurable value of the improvements securing such Transferred Mortgage First Lien Loan and or (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage First Lien Loan and (y) an amount such that plus, in the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee case of each Second from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related outstanding principal of any mortgage loan senior to such Second Lien Loan, provided that such aggregate amount represents at least 80% of the insurable value of the Mortgaged Property was located in an area identified in the Federal Register Property. If required by the National Flood Emergency Management Agency Insurance Act of 1968, as having special flood hazards (amended, each First Lien Loan is, and such flood insurance has been made available) shall continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in acceptable under the current edition of Best’s Key Rating Guide Xxxxxx Xxx Guides in an amount representing coverage equal to not less than 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 (or the aggregate unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and First Lien Loan, (ii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amendedamended (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 at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the National Flood Disaster Protection Insurance Act of 19731968, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. The Servicer shall cause to be maintained on each REO Property to be insured against risks, hazards and liabilities, in an amount with respect to hazards which is at least equal to the full replacement cost of the improvements which are a part of such REO Property and shall indemnify and hold harmless the Owner with respect to Liabilities in connection therewith in an amount of at least $1 million per occurrence and $2 million in the aggregate. In the event that the Master Servicer Owner or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or union New York mortgagee clauses, without contribution, clauses which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable under the Xxxxxx Xxx Guides and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amountsamounts as required pursuant to the Xxxxxx Mae Guides, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for conformance with Servicer’s standard practices; provided, however, that in the Mortgagor to arrange for renewal coverage event that no such notice is furnished by the expiration dateServicer, 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 provided. Pursuant to Section 3.042.04, any amounts collected by the Special Servicer under any such policies (other than amounts to be deposited in the Escrow Account a suspense account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage First Lien Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.152.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy described in Section 2.11. In the event a hazard insurance policy or a flood insurance policy shall be in danger of being terminated, the Servicer shall notify the related Mortgagor that the related Mortgagor must obtain hazard insurance coverage or flood insurance coverage, and if such Mortgagor fails to obtain the required hazard insurance or flood insurance coverage within forty-five (45) days after such notification, the Servicer shall immediately force place the required hazard insurance or flood insurance on such Mortgagor’s behalf, or in the event the insurer shall cease to be acceptable to Xxxxxx Xxx or Xxxxxxx Mac, the Servicer shall notify any successor Servicer and such Mortgagor, and such successor Servicer shall use its best efforts, as permitted by applicable law, to obtain from another Qualified Insurer a replacement hazard insurance policy or flood insurance policy substantially and materially similar in all respects to the original policy.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 (ia) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (iib) the greater of (xi) the outstanding principal balance of the Transferred Mortgage Loan and (yii) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s 's Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer shall Seller shall, at its discretion, communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s 's Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.045.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Seller's normal servicing procedures as specified in Section 3.155.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.055.05. Notwithstanding anything set forth in the preceding paragraph, the Seller agrees to indemnify the Purchaser for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related to the failure of the Mortgagor (or the Seller) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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, located in an amount which is at least equal to the lesser of (i) the replacement value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Transferred Mortgage Loan and property on a replacement cost basis or (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) Loan, in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor or and/or the loss payee Mortgagee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located is in an area identified in the Federal Register on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , the Seller will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide carrier, in an amount representing coverage equal to not less than 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 (or the unpaid outstanding principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and Mortgage Loan or (ii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended. If at The Seller also shall maintain on any time during the term of the Transferred Mortgage LoanREO Property, the Special Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered extended coverage in an amount less than which is at least equal to the amount 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 Mortgage Loan at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and related Servicing Advances, liability insurance and, to the extent required by and available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coveragein an amount as provided above. Pursuant to Section 11.04, and if said Mortgagor fails any amounts collected by the Seller under any such policies other than amounts to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special Servicer promptly of any change be deposited in the insurance coverage Escrow Account and applied to the restoration or of any condemnation or casualty loss that may have a material effect on the value repair of the Mortgaged Property as securityor REO Property, or released to the Mortgagor in accordance with the Seller's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 11.05. The Special Servicer Any cost incurred by the Seller in maintaining any such insurance shall cause not, for the purpose of calculating distributions to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller of the Mortgagor or maintained on each Mortgaged Property earthquake or such property acquired in respect of the Mortgage Loan, other or additional insurance only to the extent required than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All such policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Seller, or union mortgagee clausesupon request to the Purchaser, without contribution, which and shall provide for at least 30 thirty days prior written notice of any cancellation, reduction in the amount of, or material change in coveragein, coverage to the Seller. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated Bcurrently reflect a General Policy Rating of A:VI or better in Best’s 's Key Rating Guide and are licensed to do business in the jurisdiction in which state wherein the Mortgaged Property property subject to the policy is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan First Lien Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines which satisfies the hazard insurer ratings requirements of each of the Rating Agencies, 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage First Lien Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage First Lien Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage First Lien Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in which satisfies the current edition flood insurer ratings requirements of Best’s Key each of the Rating Guide Agencies, 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage First Lien Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices, in any instance, only to the extent permitted by applicable laws or regulations and subject to the availability of such additional insurance in the marketplace. In the event that the Master Servicer Owner or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key satisfy the insurer ratings requirements of each of the Rating Guide Agencies and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to ensure that appropriate insurance policies are in place in the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration daterequired coverages. Pursuant to Section 3.042.04, any amounts collected by the Special 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 Transferred Mortgage First Lien Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.152.13) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy in an amount equal to the unpaid principal balance of such Second Lien Loan. Any amounts collected by the Servicer under any such policy relating to a Second Lien Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05. Such policy may contain a standard deductible clause. Upon request of the Owner, the Servicer shall cause to be delivered to the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Owner.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in under the current edition of Best’s Key Rating Guide Xxxxxx Mae Guides 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide Qualified Insurers acceptable under the Xxxxxx Mae Guides and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.153.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.06.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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, located in an amount which is at least equal to the lesser of (i) the replacement value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Transferred Mortgage Loan and property on a replacement cost basis or (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) Loan, in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor or and/or the loss payee Mortgagee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located is in an area identified in the Federal Register on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , the Seller will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide carrier, in an amount representing coverage equal to not less than 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 (or the unpaid outstanding principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and Mortgage Loan or (ii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended. If at The Seller also shall maintain on any time during the term of the Transferred Mortgage LoanREO Property, the Special Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered extended coverage in an amount less than which is at least equal to the amount 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 Mortgage Loan at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and related Servicing Advances, liability insurance and, to the extent required by and available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coveragein an amount as provided above. Pursuant to Section 11.04, and if said Mortgagor fails any amounts collected by the Seller under any such policies other than amounts to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special Servicer promptly of any change be deposited in the insurance coverage Escrow Account and applied to the restoration or of any condemnation or casualty loss that may have a material effect on the value repair of the Mortgaged Property as securityor REO Property, or released to the Mortgagor in accordance with the Seller's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 11.06. The Special Servicer Any cost incurred by the Seller in maintaining any such insurance shall cause not, for the purpose of calculating distributions to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller or the Mortgagor or maintained on each Mortgaged Property earthquake or such property acquired in respect of the Mortgage Loan, other or additional insurance only to the extent required than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All such policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Seller, or union mortgagee clausesupon request to the Purchaser, without contribution, which and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in the amount of, or material change in coveragein, coverage to the Seller. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to FNMA or better in Best’s Key Rating Guide FHLMC and are licensed to do business in the jurisdiction in which state wherein the Mortgaged Property property subject to the policy is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Seller's normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, coverage and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf; provided, however, that so long as the Servicer maintains a blanket insurance policy in accordance with Section 3.12, the Servicer shall force place the required flood insurance on the Mortgagor’s behalf within ninety (90) days after such notification. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx Fxxxxx Mxx and Xxxxxxx Fxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fxxxxx Mxx requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under the Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 the Mortgaged Property is locatedXxxxxx Mae Guides, in an amount which is at least equal to the lesser of (i) the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and or (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register required by the National Flood Emergency Management Agency Insurance Act of 1968, as having special flood hazards (amended, each Mortgage Loan is, and such flood insurance has been made available) shall continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in acceptable under the current edition of Best’s Key Rating Guide Xxxxxx Xxx Guides in an amount representing coverage equal to not less than 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 (or the aggregate unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and Mortgage Loan, (ii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amendedamended (regardless of whether the area in which such Mortgaged Property is located is participating in such program), or (iii) the full replacement value of the improvements which are part of such Mortgaged Property. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the National Flood Disaster Protection Insurance Act of 19731968, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Owner or the Special Servicer shall determine that the 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 Special Servicer shall in accordance with the Xxxxxx Xxx Guides make commercially reasonable efforts to 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 Special Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or union New York mortgagee clauses, without contribution, clauses which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable under the Xxxxxx Mae Guides and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amountsamounts as required pursuant to the Xxxxxx Xxx Guides, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.042.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.152.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 greater of (i) the replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (yii) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by the Servicer in connection with any Mortgage Loan or Mortgaged Property, other than pursuant to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintained. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx Fxxxxx Mxx and Xxxxxxx Fxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, coverage and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf; provided, however, that so long as the Servicer maintains a blanket insurance policy in accordance with Section 3.12, the Servicer shall force place the required flood insurance on the Mortgagor’s behalf within ninety (90) days after such notification. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fxxxxx Mxx requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Seller's normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated as described in the Underwriting Guidelines against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is locatedrequired to be insured pursuant to Accepted Servicing Practices, in an amount which is at least equal to the lesser of (i) the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding aggregate unpaid principal balance of the Transferred Mortgage Loan and and, (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register required by the National Flood Emergency Management Agency Insurance Act of 1968, as having special flood hazards (amended, each Mortgage Loan is, and such flood insurance has been made available) shall continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better as described in the current edition of Best’s Key Rating Guide Underwriting Guidelines in an amount representing coverage equal to not less than the lesser least of (i) the minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the aggregate unpaid principal balance of the related Mortgage Loan and of any mortgage if replacement cost coverage is not available for the type of building insured) and loan senior to such Mortgage Loan, (ii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amendedamended (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 at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the National Flood Disaster Protection Insurance Act of 19731968, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirementsAccepted Servicing Practices, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or union New York mortgagee clauses, without contribution, clauses which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better as described in Best’s Key Rating Guide the Underwriting Guidelines and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amountsamounts as required pursuant to Accepted Servicing Practices, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.042.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.152.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under to Xxxxxx Xxx and Xxxxxxx Mac guidelines under the Xxxxxx Mae Guides 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 (ia) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (iib) the greater of (xi) the outstanding principal balance of the Transferred Mortgage Loan and (yii) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in acceptable to Xxxxxx Xxx under the current edition of Best’s Key Rating Guide Xxxxxx Mae Guides 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller 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. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days days’ prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable to Xxxxxx Xxx under the Xxxxxx Mae Guides and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.045.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerSeller’s normal servicing procedures as specified in Section 3.155.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.055.05. Notwithstanding anything set forth in the preceding paragraph, the Seller agrees to indemnify the Purchaser for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related to the failure of the Mortgagor (or the Seller) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines the Servicing Standard 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan plus accrued interest thereon and the good faith estimate of the Servicer of the related Liquidation Expenses to be incurred in connection therewith and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. The Servicer shall be under no obligation to require any Mortgagor to obtain 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, 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 upon origination of the Transferred Mortgage Loan, Loan the related Mortgaged Property was located 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) ), a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is shall be in effect with a generally acceptable insurance carrier rated B:VI or better in acceptable under the current edition of Best’s Key Rating Guide Servicing Standard 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides Servicing Standard 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) [thirty] days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted the Servicing PracticesStandard. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days [30] days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in generally acceptable under the jurisdiction in which the Mortgaged Property is locatedServicing Standard. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to notify the Mortgagor a formal notice of the expiration of any such insurance in sufficient time for and, prior to force placing any insurance, will permit the Mortgagor a grace period (not to arrange for exceed [60] days) to obtain renewal coverage by the expiration datecoverage. Pursuant to Section 3.044.02(d), any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054.02(e).

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated as described in the Underwriting Guidelines against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is locatedrequired to be insured pursuant to Accepted Servicing Practices, in an amount which is at least equal to the lesser of (i) the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding aggregate unpaid principal balance of the Transferred Mortgage Loan and and, (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register required by the National Flood Emergency Management Agency Insurance Act of 1968, as having special flood hazards (amended, each Mortgage Loan is, and such flood insurance has been made available) shall continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better as described in the current edition of Best’s Key Rating Guide Underwriting Guidelines in an amount representing coverage equal to not less than the lesser least of (i) the minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the aggregate unpaid principal balance of the related Mortgage Loan and of any mortgage if replacement cost coverage is not available for the type of building insured) and loan senior to such Mortgage Loan, (ii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amendedamended (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 at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the National Flood Disaster Protection Insurance Act of 19731968, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirementsAccepted Servicing Practices, and secure from the owner’s 's association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or union New York mortgagee clauses, without contribution, clauses which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better as described in Best’s Key Rating Guide the Underwriting Guidelines and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amountsamounts as required pursuant to Accepted Servicing Practices, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.042.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.152.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer Company shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Company shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirementsmaintained, and secure from the owner’s association its agreement to notify the Special Servicer Company 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 Special Servicer Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Company shall determine that the 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 Special Servicer Company 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. All policies required hereunder shall name the Special Servicer Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Company shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.045.04, any amounts collected by the Special Servicer Company 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerCompany’s normal servicing procedures as specified in Section 3.155.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.055.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard xxxxx xxxard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure from the owner’s 's association its agreement itx xxxxement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.16) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Interim Servicer shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Interim Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae FNMA Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Interim Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Interim Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Interim Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fxxxxx Mxx requirements, and secure from the owner’s association its agreement to notify the Special Interim 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 Special Interim Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Interim Servicer shall determine that the 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 Special Interim 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. All policies required hereunder shall name the Special Interim Servicer as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Interim Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Interim Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Interim Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Interim Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special Interim 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Interim Servicer’s normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and or Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.03, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer Company shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was is located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's in an amount representing coverage equal to not less than 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Company shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Company 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 Special Servicer Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Company shall determine that the 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 Special Servicer Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Company shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.044.04, any amounts collected by the Special Servicer Company 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Company's normal servicing procedures as specified in Section 3.154.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard xxxxx hxxxrd area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure from the owner’s 's association its agreement xxxxxment to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.16) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s 's association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.17) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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, located in an amount which is at least equal to the lesser of (i) the replacement value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Transferred Mortgage Loan and property on a replacement cost basis or (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) Loan, in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor or and/or the loss payee Mortgagee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located is in an area identified in the Federal Register on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , the Seller will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide carrier, in an amount representing coverage equal to not less than 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 (or the unpaid outstanding principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and Mortgage Loan or (ii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended. If at The Seller also shall maintain on any time during the term of the Transferred Mortgage LoanREO Property, the Special Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered extended coverage in an amount less than which is at least equal to the amount 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 Mortgage Loan at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and related Servicing Advances, liability insurance and, to the extent required by and available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coveragein an amount as provided above. Pursuant to Subsection 11.04, and if said Mortgagor fails any amounts collected by the Seller under any such policies other than amounts to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special Servicer promptly of any change be deposited in the insurance coverage Escrow Account and applied to the restoration or of any condemnation or casualty loss that may have a material effect on the value repair of the Mortgaged Property as securityor REO Property, or released to the Mortgagor in accordance with the Seller’s normal servicing procedures, shall be deposited in the related Custodial Account, subject to withdrawal pursuant to Subsection 11.05. The Special Servicer Any cost incurred by the Seller in maintaining any such insurance shall cause not, for the purpose of calculating distributions to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller of the Mortgagor or maintained on each Mortgaged Property earthquake or such property acquired in respect of the Mortgage Loan, other or additional insurance only to the extent required than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All such policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Seller, or union mortgagee clausesupon request to the Purchaser, without contribution, which and shall provide for at least 30 thirty days prior written notice of any cancellation, reduction in the amount of, or material change in coveragein, coverage to the Seller. The Special Servicer Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated Bcurrently reflect a General Policy Rating of A:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which state wherein the Mortgaged Property property subject to the policy is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: “V” or better in the current Best’s Key Rating Guide (“Best’s”) or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityServicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI rated: V or better in Best’s Key Rating Guide or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit. Such costs shall constitute a Servicing Advance and will be reimbursable to the Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer’s funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) With respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the related Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c), with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c), with respect to such Non-Designated Mortgage Loan are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of such premiums, and such costs shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer shall prepare and present, on behalf of itself, the Depositor, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the related Mortgagor to be applied to the restoration or repair of the related Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics’ and materialmen’s liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: “V” or better in the current Best’s Key Rating Guide (“Best’s”) or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityServicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI rated: V or better in Best’s Key Rating Guide or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit; provided, however, that the limitations contained in this sentence will not apply to modifications made pursuant to Section 3.05(b). Such costs shall constitute a Servicing Advance and will be reimbursable to the Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer’s funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) With respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the related Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of such premiums, and such costs shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer shall prepare and present, on behalf of itself, the Depositor, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the related Mortgagor to be applied to the restoration or repair of the related Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics’ and materialmen’s liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan First Lien Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines which satisfies the hazard insurer ratings requirements of each of the Rating Agencies, 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage First Lien Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage First Lien Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage First Lien Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in which satisfies the current edition flood insurer ratings requirements of Best’s Key each of the Rating Guide Agencies, 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage First Lien Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices, in any instance, only to the extent permitted by applicable laws or regulations and subject to the availability of such additional insurance in the marketplace. In the event that the Master Servicer Owner or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key satisfy the insurer ratings requirements of each of the Rating Guide Agencies and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to ensure that appropriate insurance policies are in place in the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration daterequired coverages. Pursuant to Section 3.042.04, any amounts collected by the Special 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 Transferred Mortgage First Lien Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.152.13) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy in an amount equal to the unpaid principal balance of such Second Lien Loan. Any amounts collected by the Servicer under any such policy relating to a Second Lien Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05. Such policy may contain a standard deductible clause. Upon request of the Owner, the Servicer shall cause to be delivered to the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Owner.

Maintenance of Hazard Insurance. The Special Servicer Company shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable an insurer acceptable under to Xxxxxx Xxx and Mae or Xxxxxxx Mac guidelines against loss by fire, hazards of extended coverage and such other hazards as are customary or required by law in the area where the Mortgaged Property is located, in an amount which is at least equal to the lesser of (i) the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was is located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Company shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Company 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Company shall determine that the 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 Special Servicer Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Company shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable to Xxxxxx Xxx and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.044.04, any amounts collected by the Special Servicer Company 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Company's normal servicing procedures as specified in Section 3.154.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines Servicing Standards 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan plus accrued interest thereon and the good faith estimate of the Servicer of the related Liquidation Expenses to be incurred in connection therewith and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. The Servicer shall be under no obligation to require any Mortgagor to obtain 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, 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 upon origination of the Transferred Mortgage Loan, Loan the related Mortgaged Property was located 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) ), a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is shall be in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide acceptable under Servicing Standards 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides Servicing Standards 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing PracticesStandards. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is locatedgenerally acceptable under Servicing Standards. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to notify the Mortgagor a formal notice of the expiration of any such insurance in sufficient time for and, prior to force placing any insurance, will permit the Mortgagor a grace period (not to arrange for exceed 60 days) to obtain renewal coverage by the expiration datecoverage. Pursuant to Section 3.044.02(d), any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054.02(e).

Maintenance of Hazard Insurance. The Special Servicer Company shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) or by an insurer acceptable under to Xxxxxx Xxx and Mae, Xxxxxxx Mac guidelines Mac, GNMA or VA, as applicable, 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was is located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide or in accordance with then current Xxxxxx Mae, Xxxxxxx Mac, GNMA or VA guidelines, as applicable, in an amount representing coverage equal to not less than 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Company determines in accordance with applicable law and pursuant to the then current Xxxxxx Mae Guides Mae, Xxxxxxx Mac or GNMA guidelines, as applicable, 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Company shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae, Xxxxxxx Mac or GNMA requirements, as applicable, and secure from the owner’s association its agreement to notify the Special Servicer Company 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 Special Servicer Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Company shall determine that the 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 Special Servicer Company 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. All policies required hereunder shall name the Special Servicer Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Company shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide or meet Xxxxxx Mae, Xxxxxxx Mac or GNMA requirements, as applicable, and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.044.04, any amounts collected by the Special Servicer Company 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerCompany’s normal servicing procedures as specified in Section 3.154.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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, located in an amount which is at least equal to the lesser of (i) the replacement value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Transferred Mortgage Loan and property on a replace­ment cost basis or (ii) the greater of (x) the outstanding principal princi­pal balance of the Transferred Mortgage Loan and (y) Loan, in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor or and/or the loss payee Mortgagee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Mort­gaged Property was located is in an area identified in the Federal Register on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , the Seller will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines guide­lines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide carrier, in an amount representing coverage equal to not less than 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 (or the unpaid outstanding principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and Mortgage Loan or (ii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended. If at The Seller also shall maintain on any time during the term of the Transferred Mortgage LoanREO Property, the Special Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered extended coverage in an amount less than which is at least equal to the amount 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 Mortgage Loan at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and related Servicing Advances, liability insurance and, to the extent required by and available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 an amount as security. The Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration dateprovided above. Pursuant to Section 3.048.04, any amounts collected by the Special 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 related Mortgaged PropertyProperty or REO Prop­erty, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, Mortgagor in accordance with the Special Servicer’s Sel­ler's normal servicing procedures as specified in Section 3.15) procedures, shall be deposited in the Custodial Account Account, subject to withdrawal pursuant to Section 3.058.05. Any cost incurred by the Seller in maintaining any such insurance shall not, for the purpose of calculating distributions to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to such appli­cable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller, or upon request to the Purchaser, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Seller. The Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insur­ance carrier or agent, provided, however, that the Seller shall not accept any such insur­ance policies from insurance companies unless such companies currently reflect a General Policy Rating of A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Special Servicer Subservicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable an insurer acceptable under Xxxxxx Xxx Fxxxxx Mxx and Xxxxxxx Fxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a ), the Subservicer will ensure that flood insurance policy meeting required by the requirements related transfer agreement between the Seller and the related originator is in place as of the current guidelines Closing Date and further ensure that it remains in place during the term of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amendedthis Agreement. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Subservicer determines in accordance with applicable law and pursuant to the Xxxxxx Fxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Subservicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer Subservicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Subservicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fxxxxx Mxx requirements, and shall make commercially reasonable efforts to secure from the owner’s association its agreement to notify the Special Servicer Subservicer 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 Special Servicer Subservicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer Subservicer shall determine that the 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 Special Servicer Subservicer 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. All policies required hereunder shall name the Special Servicer Subservicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Subservicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Special Servicer Subservicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Subservicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Subservicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special Servicer Subservicer under any such policies (other than amounts to be deposited in the Escrow Account or a suspense account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerSubservicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05. Notwithstanding anything set forth in the preceding paragraph, the Subservicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Servicer, Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Subservicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Xxx or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.03, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: "V" or better in the current Best's Key Rating Guide ("Best's") or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred such Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-co insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityrelated Servicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special related Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s 's freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated rated: B:VI III or better in Best’s Key Rating Guide 's or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s 's normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit; provided, however, that the limitations contained in this sentence shall not apply to modifications made pursuant to Section 3.05(a). Such costs shall constitute a Servicing Advance and will be reimbursable to the related Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer's funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) Unless otherwise required in accordance with applicable state and federal law relating to the cancellation of, or collection of premiums for mortgage guaranty insurance, with respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy, provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c) with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c) with respect to such Non-Designated Mortgage Loan are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of such premiums, and such costs shall be recoverable by such Servicer from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer shall prepare and present, on behalf of itself, the Depositor, the Trust, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the related Mortgagor to be applied to the restoration or repair of the related Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five ninety (4590) days after such notification, the Special Servicer shall immediately promptly force place the required flood insurance on the Mortgagor’s behalf; provided, however, that at no time will there be any lapse of coverage. The Servicer shall maintain flood insurance on the Mortgaged Property until such time as the Servicer force places flood insurance on such Mortgaged Property. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless unless, subject to the Mortgage and Mortgage Note, such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.03, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04.

Maintenance of Hazard Insurance. The Special Servicer Company shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Company shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s association its agreement to notify the Special Servicer Company 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 Special Servicer Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Company shall determine that the 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 Special Servicer Company 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. All policies required hereunder shall name the Special Servicer Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Company shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.044.04, any amounts collected by the Special Servicer Company 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerCompany’s normal servicing procedures as specified in Section 3.154.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054.05.

Maintenance of Hazard Insurance. The Special Interim Servicer shall cause to be maintained for each Transferred First Lien Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Interim Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Interim Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Interim Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Interim Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirementsthe related Underwriting Guidelines, and secure from the owner’s 's association its agreement to notify the Special Interim 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 Special Interim Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Interim Servicer shall determine that the 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 Special Interim Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Interim Servicer as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Interim Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agentagent (unless the insurance is force placed), provided, however, that the Special Interim Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Interim Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Interim Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. ; provided, however, that in the event that no such notice is furnished by the Interim Servicer, the Interim Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Interim Servicer shall be solely liable for any losses in the event coverage is not provided.. Pursuant to Section 3.042.04, any amounts collected by the Special Interim 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Interim Servicer’s 's normal servicing procedures as specified in Section 3.152.13) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard speciax xxxxd xxzard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure from the owner’s 's association its agreement ixx xxxeement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.16) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Seller's normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the 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, Mae requirements and secure from shall continue to monitor the owner’s association its agreement to notify the Special Servicer promptly continued maintenance 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 securitysuch coverage. The Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insuranceregulations, or pursuant to the requirements of any the applicable private mortgage guaranty insurer, if any, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller 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. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.044(d), any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerSeller’s normal servicing procedures as specified in Section 3.154(n)) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054(e). Notwithstanding anything set forth in the preceding paragraph, the Seller agrees to indemnify the Purchaser for any claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related to the failure of the Mortgagor (or the Seller) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property is located in a special flood specxxx xxoxx hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure from the owner’s association its 's associatiox xxx agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.16) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan First Lien Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines which satisfies the hazard insurer ratings requirements of each of the Rating Agencies, 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage First Lien Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage First Lien Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage First Lien Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in which satisfies the current edition flood insurer ratings requirements of Best’s Key each of the Rating Guide Agencies, 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage First Lien Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard speciax xxxxd xxzard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure from the owner’s 's association its agreement ixx xxxeement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices, in any instance, only to the extent permitted by applicable laws or regulations and subject to the availability of such additional insurance in the marketplace. In the event that the Master Servicer Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key satisfy the insurer ratings requirements of each of the Rating Guide Agencies and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to ensure that appropriate insurance policies are in place in the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration daterequired coverages. Pursuant to Section 3.042.04, any amounts collected by the Special 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 Transferred Mortgage First Lien Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.152.13) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.2.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy in an amount equal to the unpaid principal balance of such Second Lien Loan. Any amounts collected by the Servicer under any such policy relating to a Second Lien Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property is located in a special flood spexxxx xlxxx hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure from the owner’s association its 's associatixx xxx agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.16) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred a first lien Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a first lien Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 use Best Efforts to secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for if the Mortgagor to arrange for renewal coverage by the expiration dateServicer has received a notice of cancellation of insurance. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Interim Servicer shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located. If required by the National Flood Insurance Act of 1968, in an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Transferred as amended, each Mortgage Loan is, and (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) an amount such that the proceeds thereof shall be sufficient continue to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loanbe, the related Mortgaged Property was located in an area identified in the Federal Register covered by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is as in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's in an amount representing coverage equal to not less than 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 (or the aggregate unpaid principal balance of the related Mortgage Loan and of any mortgage if replacement cost coverage is not available for the type of building insured) and loan senior to such Mortgage Loan, (ii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amendedamended (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 at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the National Flood Disaster Protection Insurance Act of 19731968, as amended, the Special Interim Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Special Interim Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Interim Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirementsthe related Underwriting Guidelines, and secure from the owner’s 's association its agreement to notify the Special Interim 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 Special Interim Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Interim Servicer shall determine that the 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 Special Interim Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Interim Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or union New York mortgagee clauses, without contribution, clauses which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Interim Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Interim Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Interim Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, owner and that they properly describe the property address. The Special Interim Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Interim Servicer, the Interim Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Interim Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.042.04, any amounts collected by the Special Interim 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Interim Servicer’s 's normal servicing procedures as specified in Section 3.152.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan maintained, subject to the provisions of Section 5.08, fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines against loss by fire, hazards of with extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located, in an amount which is at least equal to the lesser least of (i) the replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance owing on the Mortgage Loan, and the First Lien, with respect to Sub-Pool 1, (b) the full insurable value of the Transferred premises securing the Mortgage Loan and (yc) an the minimum amount such that the proceeds thereof shall be sufficient required to prevent the Mortgagor compensate for damage or the loss payee from becoming on a co-insurerreplacement cost basis. If upon at the origination of the Transferred Mortgage Loan, Loan or at any time during the related term of the Mortgage Loan the Servicer determines that the Mortgaged Property was is located in an area identified in the Federal Register on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued 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 meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide carrier, in an amount representing coverage equal to not less than 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 (or the unpaid outstanding principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and Mortgage Loan or (ii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 19731973 or the National Flood Insurance Reform Act of 1994, as amended. The Servicer shall also maintain, to the extent such insurance is available, on REO Property, fire and hazard insurance in the amounts described above, liability insurance and, to the extent required and available under the National Flood Insurance Act of 1968, as amended, and the Special Servicer shall notify the related Mortgagor determines that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained necessary in accordance with then current Xxxxxx Xxx requirementsaccepted first and second mortgage servicing practices of prudent lending institutions with respect to Sub-Pool 1, and secure from in accordance with accepted first mortgage servicing practices of prudent lending institutions with respect to Sub-Pool 2, flood insurance in an amount equal to that required above. Any amounts collected by the owner’s association its agreement Servicer under any such policies (other than amounts to notify be applied to the Special Servicer promptly of any change in the insurance coverage restoration or of any condemnation or casualty loss that may have a material effect on the value repair of the Mortgaged Property as security. The Special Servicer shall cause Property, or to be maintained on each Mortgaged Property earthquake or such other or additional insurance only released to the Mortgagor in accordance with customary first and second mortgage servicing procedures with respect to Sub-Pool 1, and with customary first mortgage servicing procedures with respect to Sub-Pool 2) shall be deposited in the Principal and Interest Account with respect to the related Sub-Pool, subject to retention by the Servicer to the extent such amounts constitute Servicing Compensation or to withdrawal pursuant to Section 5.04 above. It is understood and agreed that no earthquake or other additional insurance 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, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clausesclauses with losses payable to the Servicer. Any out-of-pocket expenses incurred by the Servicer pursuant to this Section 5.07, including without contribution, which shall provide for at least 30 days prior written notice limitation any advances of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such premiums on insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer required by this Section 5.07, shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05constitute Servicing Advances.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Fxxxxx Mxx or Fxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Fxxxxx Mae or better in the current edition of Best’s Key Rating Guide Fxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with with, at a minimum, the then current Xxxxxx Xxx Fxxxxx Mxx or Fxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Fxxxxx Mae or better in Best’s Key Rating Guide Fxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.03, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Xxx or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special With respect to First Lien Mortgage Loans, the Servicer shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under conforming to the requirements of Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement maximum insurable value of the improvements securing such Transferred First Lien Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred First Lien Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in conforming to the current edition requirements of Best’s Key Rating Guide Xxxxxx Mae and Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae FNMA Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five sixty (4560) days after such notification, the Special Servicer shall immediately initiate the process of force place placing the required flood insurance on the Mortgagor’s behalf. If With respect to First Lien Mortgage Loans, if a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx FNMA requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide conform to the requirements of Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.152.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Purchaser for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property Morxxxxxx Xxxperty is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure xxxxxe from the owner’s 's association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.17) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae FNMA Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the 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 secure from the owner’s association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller 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. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerSeller’s normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Interim Servicer shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Interim Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae FNMA Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Interim Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Interim Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Interim Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s 's association its agreement to notify the Special Interim 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 Special Interim Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Interim Servicer shall determine that the 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 Special Interim Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Interim Servicer as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Interim Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Interim Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Interim Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Interim Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special Interim 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Interim Servicer’s 's normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: "V" or better in the current Best's Key Rating Guide ("Best's") or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred such Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-co insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityrelated Servicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special related Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s 's freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated rated: B:VI III or better in Best’s Key Rating Guide 's or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s 's normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit. Such costs shall constitute a Servicing Advance and will be reimbursable to the related Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer's funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) With respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the related Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer agrees to effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account or pursuant to Section 3.05(c) with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c) with respect to such Non-Designated Mortgage Loan, are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer agrees to effect timely payment of such premiums, and such costs shall be recoverable by such Servicer from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not Lender Paid, the Servicer agrees to effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer agrees to prepare and present, on behalf of itself, the Depositor, the Trust, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae FNMA Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fxxxxx Mxx requirements, and secure from the owner’s association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller 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. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerSeller’s normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Interim Servicer shall cause to be maintained for each Transferred Mortgage Loan fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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, located in an amount which is at least equal to the lesser of (i) the replacement value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Transferred Mortgage Loan and property on a replacement cost basis or (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) Loan, in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor or and/or the loss payee Mortgagee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located is in an area identified in the Federal Register on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , the Interim Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide carrier, in an amount representing coverage equal to not less than 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 (or the unpaid outstanding principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and Mortgage Loan or (ii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended. If The Interim Servicer also shall maintain on any REO Property, fire and hazard insurance with extended coverage in an amount which is at any time during least equal to the term lesser of (i) the maximum insurable value of the Transferred improvements which are a part of such property and (ii) either (A) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and related Servicing Advances with respect to each First Lien Mortgage Loan or (B) with respect to each Second Lien Mortgage Loan, the Special Servicer determines in accordance with applicable law sum of the outstanding principal balance of the First Lien Mortgage Loan and pursuant the outstanding principal balance of the Second Lien Mortgage Loan plus accrued interest at the Mortgage Interest Rate and related Servicing Advances, liability insurance and, to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area extent required and is not covered by flood insurance available under the National Flood Insurance Act of 1968 or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coveragein an amount as provided above. Pursuant to Subsection 11.04, and if said Mortgagor fails any amounts collected by the Interim Servicer under any such policies other than amounts to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special Servicer promptly of any change be deposited in the insurance coverage Escrow Account and applied to the restoration or of any condemnation or casualty loss that may have a material effect on the value repair of the Mortgaged Property as securityor REO Property, or released to the Mortgagor in accordance with the Interim Servicer's normal servicing procedures, shall be deposited in the Custodial Account. The Special Any cost incurred by the Interim Servicer in maintaining any such insurance shall cause not, for the purpose of calculating distributions to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need be required by the Interim Servicer of the Mortgagor or maintained on each Mortgaged Property earthquake or such property acquired in respect of the Mortgage Loan, other or additional insurance only to the extent required than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All such policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Interim Servicer, or union mortgagee clausesupon request to the Purchaser, without contribution, which and shall provide for at least 30 thirty days prior written notice of any cancellation, reduction in the amount of, or material change in coveragein, coverage to the Interim Servicer. The Special Interim Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Interim Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated Bcurrently reflect a General Policy Rating of A:VI or better in Best’s 's Key Rating Guide and are licensed to do business in the jurisdiction in which state wherein the Mortgaged Property property subject to the policy is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer Company shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable an insurer acceptable under to Xxxxxx Xxx and Mae or Xxxxxxx Mac guidelines 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) 100% of the insurable value on a replacement value cost basis of the improvements securing such Transferred Mortgage Loan and (ii) maximum coverage allowable under the greater Flood Disaster Protection Act of (x) 1973. In the outstanding principal balance event a hazard insurance policy shall be in danger of being terminated, or in the Transferred event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan and (y) an amount such that the proceeds thereof shall be sufficient without a hazard insurance policy at any time, subject only to prevent the Mortgagor or the loss payee from becoming a co-insurerSection 4.11 hereof. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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 shall cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Company determines in accordance with the applicable law and pursuant to the Xxxxxx Mae Guides Guide, that a the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Company shall notify the related Mortgagor that the Mortgagor they must obtain such flood insurance coverage, coverage and if said the Mortgagor fails to obtain the required flood insurance provide proof of such coverage within forty-five (45) days after of such notificationnotice, the Special Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Company shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Company 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Company shall determine that the 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 Special Servicer Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability required amount of protection of coverage for the Mortgaged PropertyProperty and if the Mortgagor does not obtain such coverage, the Company shall immediately force place the required coverage on the Mortgagor's behalf. All policies required hereunder shall name the Special Servicer Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Company shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.044.04, any amounts collected by the Special Servicer Company 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Company's normal servicing procedures as specified in Section 3.154.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.054.05.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: “V” or better in the current Best’s Key Rating Guide (“Best’s”) or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityServicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI rated: V or better in Best’s Key Rating Guide or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit. Such costs shall constitute a Servicing Advance and will be reimbursable to the Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer’s funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) With respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the related Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of such premiums, and such costs shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer shall prepare and present, on behalf of itself, the Depositor, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the related Mortgagor to be applied to the restoration or repair of the related Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics’ and materialmen’s liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer any Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer shall communicate and consult Seller shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Seller's normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan First Lien Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under the Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 the Mortgaged Property is locatedXxxxxx Xxx Guides, in an amount which is at least equal to the lesser of (i) the replacement maximum insurable value of the improvements securing such Transferred Mortgage First Lien Loan and or (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage First Lien Loan and (y) an amount such that plus, in the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee case of each Second from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related outstanding principal of any mortgage loan senior to such Second Lien Loan, provided that such aggregate amount represents at least 80% of the insurable value of the Mortgaged Property was located in an area identified in the Federal Register Property. If required by the National Flood Emergency Management Agency Insurance Act of 1968, as having special flood hazards (amended, each First Lien Loan is, and such flood insurance has been made available) shall continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in acceptable under the current edition of Best’s Key Rating Guide Xxxxxx Mae Guides in an amount representing coverage equal to not less than 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 (or the aggregate unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and First Lien Loan, (ii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amendedamended (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 at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the National Flood Disaster Protection Insurance Act of 19731968, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. The Servicer shall cause to be maintained on each REO Property to be insured against risks, hazards and liabilities, in an amount with respect to hazards which is at least equal to the full replacement cost of the improvements which are a part of such REO Property and shall indemnify and hold harmless the Owner with respect to Liabilities in connection therewith in an amount of at least $1 million per occurrence and $2 million in the aggregate. In the event that the Master Servicer Owner or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or union New York mortgagee clauses, without contribution, clauses which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable under the Xxxxxx Mae Guides and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amountsamounts as required pursuant to the Xxxxxx Xxx Guides, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for conformance with Servicer’s standard practices; provided, however, that in the Mortgagor to arrange for renewal coverage event that no such notice is furnished by the expiration dateServicer, 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 provided. Pursuant to Section 3.042.04, any amounts collected by the Special Servicer under any such policies (other than amounts to be deposited in the Escrow Account a suspense account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage First Lien Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.152.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy described in Section 2.11. In the event a hazard insurance policy or a flood insurance policy shall be in danger of being terminated, the Servicer shall notify the related Mortgagor that the related Mortgagor must obtain hazard insurance coverage or flood insurance coverage, and if such Mortgagor fails to obtain the required hazard insurance or flood insurance coverage within forty-five (45) days after such notification, the Servicer shall immediately force place the required hazard insurance or flood insurance on such Mortgagor’s behalf, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Servicer shall notify any successor Servicer and such Mortgagor, and such successor Servicer shall use its best efforts, as permitted by applicable law, to obtain from another Qualified Insurer a replacement hazard insurance policy or flood insurance policy substantially and materially similar in all respects to the original policy.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and or Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and or Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, liability and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Xxx or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.03, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.053.04. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: “V” or better in the current Best’s Key Rating Guide (“Best’s”) or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityServicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI rated: V or better in Best’s Key Rating Guide or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit. Such costs shall constitute a Servicing Advance and will be reimbursable to the Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer’s funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) With respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(d), with respect to such Non-Designated Mortgage Loan are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of such premiums, and such costs shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer shall effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer, as applicable, from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer shall prepare and present, on behalf of itself, the Depositor, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the related Mortgagor to be applied to the restoration or repair of the related Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics’ and materialmen’s liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated A:VI or better in the current Best's Key Rating Guide ("Best's") 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Fxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fxxxxx Mxx requirements, and secure from the owner’s 's association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s 's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s Seller's normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer Seller shall cause to be maintained for each Transferred Mortgage Loan Loan, hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer insurer, acceptable under to Xxxxxx Xxx and Xxxxxxx Mac guidelines under the Xxxxxx Mae Guides, 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 replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in carrier, acceptable to Xxxxxx Xxx under the current edition of Best’s Key Rating Guide Xxxxxx Mae Guides, 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer Seller shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s association its agreement to notify the Special Servicer Seller 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 Special Servicer Seller shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer Purchaser or the Special Servicer Seller shall determine that the 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 Special Servicer Seller 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. All policies required hereunder shall name the Special Servicer Seller as loss payee and shall be endorsed with standard or union New York mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide acceptable to Xxxxxx Xxx under the Xxxxxx Mae Guides and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.042.04, any amounts collected by the Special 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 related Mortgaged Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special ServicerSeller’s normal servicing procedures as specified in Section 3.152.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.052.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Xxx Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Mae requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.153.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines rated B:III or better in the current Best's Key Rating Guide ("Best's") 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) 100% of the replacement maximum insurable value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI III or better in the current edition of Best’s Key Rating Guide 's 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Fannie Mae Guides that a Mortgaged Property Morxxxxxx Xxxperty is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx Fannie Mae requirements, and secure xxxxxe from the owner’s 's association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or any additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required pursuant to conform with Accepted Servicing Practicesapplicable laws. In the event that the Master Servicer any Owner or the Special Servicer shall determine that the 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 Special Servicer shall communicate and consult shall, in accordance with the Mortgagor with respect to the need for Accepted Servicing Practices, provide notice of such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI III or better in Best’s Key Rating Guide 's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s 's normal servicing procedures as specified in Section 3.153.16) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx Mae and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (x) the outstanding principal balance of the Transferred Mortgage Loan and (y) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Special Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each Transferred related Non-Designated Mortgage Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurer rated either: "V" or better in the current Best's Key Rating Guide ("Best's") or acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines to FNMA or FHLMC 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 replacement value of the improvements securing such Transferred Non-Designated Mortgage Loan and (ii) the greater of (xA) the outstanding principal balance of the Transferred such Non-Designated Mortgage Loan and (yB) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor or and/or the loss payee mortgagee from becoming a co-co insurer. If upon origination of the Transferred Non-Designated Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the related Servicer shall cause a flood insurance policy meeting to be maintained with respect to such Non-Designated Mortgage Loan. Such policy shall meet the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI or better in the current edition of Best’s Key Rating Guide and be 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 (or the unpaid principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage related to a Non-Designated Mortgage Loan is secured by a unit in a condominium project, the Special related Servicer shall verify that the coverage required of the owner’s 's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner’s association its agreement to notify the Special 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 requirements of the Mortgaged Property as securityrelated Servicer for mortgage loans that it services on its own account. The Special Each Servicer shall cause to be maintained on each Mortgaged Property earthquake or related to a Non-Designated Mortgage Loan such other or additional special hazard insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices. In Practices to the event extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Master Servicer or the Special related Servicer shall determine that the Mortgaged Property should not be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by bear the Mortgagor pursuant to the terms cost of the Mortgage, the Special 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 Propertyinsurance. All policies required hereunder shall name the Special related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Each Servicer shall not interfere with the Mortgagor’s 's freedom of choice at the origination of such Non-Designated Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that the Special such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated rated: B:VI III or better in Best’s Key Rating Guide 's or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special related Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.043.05, any amounts collected by the Special a Servicer under any such policies (other than amounts to be deposited in the related Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Transferred Non-Designated Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special such Servicer’s 's normal servicing procedures as specified in Section 3.15procedures) shall be deposited in the Custodial related Collection Account (subject to withdrawal pursuant to Section 3.08(a)). Any cost incurred by a Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trust Administrator for their benefit, be added to the principal balance of the Non-Designated Mortgage Loan, notwithstanding that the terms of the Non-Designated Mortgage Loan so permit. Such costs shall constitute a Servicing Advance and will be reimbursable to the related Servicer 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 related to a Non-Designated Mortgage Loan or maintained on property acquired in respect of a Mortgage related to a Non-Designated Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that a Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the related Non-Designated Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). Any amounts collected by a Servicer under any such policy relating to a Non-Designated Mortgage Loan shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08(a). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.09(a), and there shall have been a loss which would have been covered by such policy, the related Servicer shall deposit in the related Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from such Servicer's funds, without reimbursement therefor. Upon request of the Trust Administrator, a Servicer shall cause to be delivered to the Trust Administrator a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Trust Administrator. In connection with its activities as Servicer of the related Non-Designated Mortgage Loans, such Servicer agrees to present, on behalf of itself, the Depositor, and the Trust Administrator for the benefit of the Certificateholders, claims under any such blanket policy. (c) With respect to each Non-Designated Mortgage Loan with a Loan-to-Value Ratio in excess of 80% which the Seller represented to be covered by a Mortgage Guaranty Insurance Policy as of the Cut-off Date, the related Servicer shall, without any cost to the Depositor or Trust Administrator, maintain or cause the Mortgagor to maintain in full force and effect a Mortgage Guaranty Insurance Policy insuring that portion of the Non-Designated Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay, the premium thereon on a timely basis, until the loan-to-value ratio of such Non-Designated Mortgage Loan is reduced to 80%, based on either (i) a current appraisal of the Mortgaged Property or (ii) the appraisal of the Mortgaged Property obtained at the time the Non-Designated Mortgage Loan was originated. In the event that such Mortgage Guaranty Insurance Policy shall be terminated prior to the loan-to-value ratio of such Non-Designated Mortgage Loan being reduced to 80%, the related Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated Mortgage Guaranty Insurance Policy. If the insurer shall cease to be a Qualified Insurer, the related Servicer shall determine whether recoveries under the Mortgage Guaranty Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that such Servicer shall in no event have any responsibility or liability for any failure to recover under the Mortgage Guaranty Insurance Policy for such reason. If the related Servicer determines that recoveries are so jeopardized, it shall notify the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The related Servicer shall not take any action which would result in noncoverage under any applicable Mortgage Guaranty Insurance Policy of any loss which, but for the actions of such Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 3.10, each Servicer shall promptly notify the insurer under the related Mortgage Guaranty Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such Mortgage Guaranty Insurance Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such Mortgage Guaranty Insurance Policy provided that such required actions are in compliance with all applicable law. If such Mortgage Guaranty Insurance Policy is terminated as a result of such assumption or substitution of liability, the related Servicer shall obtain a replacement Mortgage Guaranty Insurance Policy as provided above; provided that under applicable law and the terms of the related Mortgage Note and Mortgage the cost of such policy may be charged to the successor Mortgagor. With respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, the applicable Servicer agrees to effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy from amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account or pursuant to Section 3.05(c) with respect to such Non-Designated Mortgage Loan. If amounts on deposit in the Collection Account, or deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c) with respect to such Non-Designated Mortgage Loan, are not sufficient to pay the premiums on such Mortgage Guaranty Insurance Policy, the applicable Servicer agrees to effect timely payment of such premiums, and such costs shall be recoverable by such Servicer from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). With respect to each Non-Designated Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not Lender Paid, the Servicer agrees to effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy, and such costs not otherwise recoverable from the Mortgagor shall be recoverable by such Servicer from the related Liquidation Proceeds or otherwise as a Servicing Advance pursuant to Section 3.08(a). (d) In connection with its activities as servicer, each Servicer agrees to prepare and present, on behalf of itself, the Depositor, the Trust, the Trustee, the Trust Administrator and the Certificateholders, claims to the insurer under any Mortgage Guaranty Insurance Policy related to a Non-Designated Mortgage Loan in a timely fashion in accordance with the terms of such Mortgage Guaranty Insurance Policy and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Mortgage Guaranty Insurance Policy respecting defaulted Non-Designated Mortgage Loans. Pursuant to Section 3.05, any amounts collected by a Servicer under any Mortgage Guaranty Insurance Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.08. (e) With respect to any Non-Designated Mortgage Loan, each Servicer need not obtain the approval of the Trustee or the Trust Administrator prior to releasing any Insurance Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, each Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds: (i) such Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) such Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; and (iii) pending repairs or restoration, such Servicer shall place the Insurance Proceeds in the related Escrow Account. (f) With respect to any Non-Designated Mortgage Loan, if the Trust Administrator is named as an additional loss payee, the related Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Trustee or the Trust Administrator.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and or Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located 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) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated B:VI acceptable to Xxxxxx Mae or better in the current edition of Best’s Key Rating Guide Xxxxxxx Mac 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage Loan is secured by a unit in a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI acceptable to Xxxxxx Mae or better in Best’s Key Rating Guide Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Trustee, the NIMS Insurer, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each Transferred Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines 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 replacement value of the improvements securing such Transferred Mortgage Loan and (ii) the greater of (xa) the outstanding principal balance of the Transferred Mortgage Loan and (yb) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated BA:VI or better in the current edition of Best’s Key Rating Guide 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 (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Transferred Mortgage Loan, the Special Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides 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 less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the Special Servicer shall verify that the 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 secure from the owner’s association its agreement to notify the Special 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 Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the 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 Special 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. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special 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 Transferred Mortgage Loan, or to be released to the Mortgagor, in accordance with the Special Servicer’s normal servicing procedures as specified in Section 3.153.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.