Common use of Maintenance of Hazard Insurance Clause in Contracts

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalf.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under the Servicing Standard against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under the 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 the Servicing Standard. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under the Servicing Standard. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 A:VI or better in Best'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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner's association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Owner or the 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 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 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 Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 A: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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A: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 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to Xxxxxx Mae or 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 Mortgage Loan, the Servicer Company determines in accordance with the applicable law and pursuant to the Xxxxxx Xxx Guides Mae 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 meeting the amount required by requirements of the Flood Disaster Protection Act of 1973, as amended, the 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 Servicer Company shall 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 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 requirements, and secure from the owner's association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 A:VI or better in Best'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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner's association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Fxxxxx Mxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalf.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 notificationnotification and the holder of the Superior Lien fails to require or force place the required flood insurance under this Section 3.13, the Servicer shall force place the required flood insurance on the Mortgagor’s behalf.

Maintenance of Hazard Insurance. The EMC Servicer shall cause to be maintained maintained, for each EMC Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located with an insurer which is licensed to do business in the state where the Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The EMC Servicer shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any EMC Mortgage Loan, to the extent described below. Pursuant to Section 1.05 of this Exhibit K, any amounts collected by the EMC Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property, in an amount which is at least equal Property or property thus acquired or amounts released to the greater Mortgagor in accordance with the EMC Servicer's normal servicing procedures) shall be deposited in the Protected Account. Any cost incurred by the EMC Servicer in maintaining any such insurance shall not, for the purpose of (i) calculating monthly distributions to the then outstanding Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the EMC Mortgage Loan, notwithstanding that the terms of the EMC Mortgage Loan and (ii) an amount such that the proceeds thereof so permit. Such costs shall be sufficient to prevent recoverable by the EMC Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurer. extent permitted by Section 1.08 of this Exhibit K. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance. If the Mortgaged Property is located at the time of origination of the EMC Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the EMC Servicer shall cause flood insurance to be maintained. If upon origination of the maintained with respect to such EMC 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 . 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 shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related EMC Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the EMC Servicer shall obtain and maintain a blanket policy insuring against hazard losses on all of the EMC Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 1.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the EMC Servicer determines shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 1.10, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Protected Account the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall be from the EMC Servicer's own funds without reimbursement therefor. In connection with its activities as amendedadministrator and servicer of the EMC Mortgage Loans, the EMC Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageagrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Qualified Insurer 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner's association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall only accept any such insurance policies from Qualified Insurers licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac against loss by fire, hazards of extended coverage on and such other hazards as are customary or required by law in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the Mortgage Loan, the related Mortgaged Property was is located in an area identified in by the Federal Register by the Flood 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 insurance carrier acceptable to Xxxxxx Mae or 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides 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 Servicer Company 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 Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. Any out-of-pocket expenses or advance made by the Company 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 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 Mae requirements, and secure from the owner's association its agreement to notify the 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. In the event that any Purchaser or the 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 Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the required amount of coverage for the Mortgaged Property 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 Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Xxx and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 Company shall furnish to the Mortgagor a formal notice of expiration, in accordance with the Accepted Servicing Practices, of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall not accept any such insurance policies from insurance companies unless such companies (a) currently reflect (1) a general policyholder’s rating of B+ or better and a financial size category of III or better in Best’s Key Rating Guide, or (2) a general policyholder’s rating of “A” or “A-” or better in Best’s Key Rating Guide, and (b) are licensed to do business in the state wherein the related Mortgaged Property is located. Notwithstanding the foregoing, the Servicer may accept a policy underwritten by Lloyd’s of London or, if it is the only coverage available, coverage under a state’s Fair Access to Insurance Requirement (FAIR) Plan. If a hazard policy becomes in danger of being terminated, or the insurer ceases to have the ratings noted above, the Servicer 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 5.11. Pursuant to Section 5.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer’s normal servicing procedures, shall be deposited in the Collection Account within two Business Days after receipt, subject to withdrawal in accordance with Section 5.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating remittances to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the Mortgagor must obtain terms of such flood Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance coverage, and if said Mortgagor fails to obtain the need be required flood insurance coverage within forty-five (45) days after such notification, by the Servicer 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 place the required flood insurance on the Mortgagor’s behalfand as shall require such additional insurance.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Servicing Standards against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 Servicing Standards. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under Servicing Standards. The 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 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 4.02(d), any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.02(e). Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Indenture Trustee, the Issuer, the Noteholders and the Master Servicer 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to FNMA or FHLMC, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to FNMA or FHLMC, 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to FNMA or FHLMC, 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 a Mortgage is secured by a unit in a condominium project, the 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 FNMA or FHLMC requirements, secure from the owner’s association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 time during cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the term Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to FNMA and FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.4, any amounts collected by the 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 Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.5.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Qualified Insurer 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall only accept any such insurance policies from Qualified Insurers licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage on and such other hazards as are customary in the area where the related Mortgaged Property, in Property is located with an amount insurer which is at least equal licensed to do business in the state where the related Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any EMC Mortgage Loan, to the greater extent described below. Pursuant to Section 5.01, any amounts collected by the Company under any such policies (other than the amounts to be applied to the restoration or repair of (ithe related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Company’s normal servicing procedures) shall be deposited in the then outstanding Protected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan and (ii) an amount such Loan, notwithstanding that the proceeds thereof terms of the EMC Mortgage Loan so permit. Such costs shall be sufficient to prevent recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurerextent permitted by Section 5.02. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance. If the Mortgaged Property is located at the time of origination of the related EMC Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained. If upon origination of the maintained with respect to such EMC 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 . 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 shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related EMC Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the EMC Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.05, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the Servicer determines Company shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 3.05, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Protected Account maintained by the Company the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with its activities as amendedadministrator and servicer of the EMC Mortgage Loans, the Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageCompany agrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then outstanding principal balance amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the Principal Balance of the Mortgage Loan and (ii) 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 the Mortgaged Property is in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration with a generally acceptable insurance carrier, in an amount representing coverage not less than the least of (i) the Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968, as amended. The Servicer shall also maintain on the REO Property for the benefit of the Certificateholders, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost of the improvements which are a part of such property and (y) to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by the Servicer or the Mortgagor or maintained on property acquired in connection with any respect of the Mortgage Loan or Mortgaged PropertyLoan, 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 Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Emergency Management Agency Applicable Regulations 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 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 shall at any time during the term of the Mortgage Loan, 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 Servicer determines and shall provide for at least thirty days prior written notice of any cancellation, reduction in accordance with applicable law and pursuant the amount of or material change in coverage to the Xxxxxx Xxx Guides Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, 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 Servicer shall notify not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide and are licensed to do business in the related Mortgagor that state wherein the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails property subject to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer shall force place the required flood insurance on the Mortgagor’s behalfpolicy is located.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable under Fxxxxx Mxx and Fxxxxxx Mac guidelines against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Servicer 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 Fxxxxx Mxx requirements, and shall make commercially reasonable efforts to secure from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A: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 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 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 Servicer 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the 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, 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 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 Mortgage Loan, the related a 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 A:VI or better in Best’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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Fxxxxx Mxx 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 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 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 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 Fxxxxx Mae requirements, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Qualified Insurer 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Fxxxxx Mxx 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 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 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 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 Fxxxxx Mae requirements, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall only accept any such insurance policies from Qualified Insurers licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to Xxxxxx Mae or 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 Mortgage Loan, the Servicer Company determines in accordance with the applicable law and pursuant to the Xxxxxx Xxx Guides Mae 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 meeting the amount required by requirements of the Flood Disaster Protection Act of 1973, as amended, the 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 Servicer Company shall 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 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 requirements, and secure from the owner's association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the sum of the outstanding principal balance of the Mortgage Loan (including any cumulative related Negative Amortization) and (ii) the outstanding principal balance of the related first lien mortgage loan, if applicable, 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by If 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 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 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 Mortgage Loan (plus, if replacement cost coverage is not available the Mortgage Loan provides for negative amortization, the type maximum amount of building insuredNegative Amortization in accordance with the Mortgage) and 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 Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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 (including any cumulative related Negative Amortization) at the time it became an REO Property, 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, flood insurance in an amount as provided above. Pursuant to Subsection 11.04, any amounts collected by the Servicer Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Seller's normal servicing procedures, shall notify be deposited in the Custodial Account, subject to withdrawal pursuant to Subsection 11.05. 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 Mortgagor 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 must obtain or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to such flood insurance coverageapplicable 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 if said Mortgagor fails to obtain the required flood insurance coverage within forty-five shall provide for at least thirty (4530) days after such notificationprior written notice of any cancellation, reduction in the Servicer amount of, or material change in, coverage to the Seller. The Seller shall force place the required flood insurance on not interfere with the Mortgagor’s behalf'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 are Qualified Insurers.

Maintenance of Hazard Insurance. (a) The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan serviced by it fire and hazard insurance of with extended coverage on customary in the area where the related Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then outstanding principal balance replacement value of the improvements securing the Mortgage Loan, or (ii) the Unpaid Principal Balance of the Mortgage Loan and (ii) an so long as it equals 80% of the insurable value of the improvements); provided that in any case such amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee and/or Mortgagee from becoming a co-insurer. It If the Mortgaged Property is understood and agreed that no earthquake or other additional insurance is required to be maintained by in an area that, at 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 time of origination of the related Mortgage Loan, the related Mortgaged Property was located in an area is identified in on a flood hazard boundary map or flood insurance rate map issued by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made was then 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 carrier, if such insurance is available. Such flood insurance shall be 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 unpaid balance Unpaid Principal Balance of the mortgage if replacement cost coverage is not available for Mortgage Loan, (ii) the type full insurable value of building insured) the improvements securing such Mortgage Loan and (iiiii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, each as amended. If at any time during the term of the Mortgage Loan, the The Servicer determines in accordance shall also maintain on REO Property (x) fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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 that is at least equal to the amount maximum insurable value of the improvements that are a part of such property, (y) liability insurance and (z) to the extent required by and available under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, each as amended, flood insurance in an amount as provided above. Any amounts collected by the Servicer under any such policies shall be paid over or applied by the Servicer in accordance with Applicable Requirements whether (i) for the restoration or repair of the Mortgaged Property, subject to the related Mortgage, (ii) for release to the Mortgagor, or (iii) for application in reduction of the Mortgage Loan, in which event such amounts shall be deposited in the Account, as provided in Section 2.4. It is understood and agreed that no earthquake or other additional insurance need be maintained by the Servicer on any Mortgage Loan or property acquired in respect of a Mortgage Loan, other than as required under applicable laws and regulations as shall at any time be in force. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer and shall provide for at least 30 days prior written notice to the Servicer of any cancellation, reduction in amount, or material change in coverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either the Mortgagor's insurance carrier or agent upon any policy renewal; provided, however, that upon any such policy renewal, the Servicer shall notify accept such insurance policies only from insurance companies that (A) have a rating of B:III or better in Best's Key Rating Guide or a financial performance index rating of 6 or better in Best's Insurance Reports and (B) are licensed to do business in the jurisdiction in which 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 notificationMortgaged Property is located. If a Mortgage is secured by a unit in a condominium project, the Servicer shall force place verify that the coverage required flood of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with the current Xxxxxx Xxx requirements, and secure from the owner's association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material adverse effect on the Mortgagor’s behalfvalue of the Mortgaged Property as security. (b) If the Servicer, as servicer for the benefit of the Owner, shall obtain and maintain a blanket policy that would meet the requirements of Xxxxxx Mae if Xxxxxx Xxx were the purchaser of the Mortgage Loans, insuring against loss to the Owner as mortgagee from damage to any or all of the Mortgaged Properties, then, to the extent such blanket policy (i) provides coverage, without coinsurance, in an amount equal to the aggregate outstanding Unpaid Principal Balance of the Mortgage Loans, (ii) otherwise complies with the requirements of Section 2.10(a) and (iii) contains a deductible not greater than $10,000, the Servicer shall be deemed conclusively to have satisfied its obligations under Section 2.10(a); provided, however, that if there shall have been one or more of such losses the Servicer shall deposit in the Account, as provided in Section 2.4, out of the Servicer's own funds and without reimbursement therefor, the difference, if any, between the amount that would have been payable under a policy complying with Section 2.10(a) and the amount paid under the blanket policy permitted under this Section 2.10(b). At the 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 not be terminated or materially modified without 30 days' prior written notice to the Owner.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac against loss by fire, hazards of extended coverage on and such other hazards as are customary or required by law in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to Xxxxxx Mae or 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 a Mortgage is secured by a unit in a condominium project, the 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 Mae or Xxxxxxx Mac requirements, and secure from the owner's association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 time during cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the term Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae or Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Servicer 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 shall make commercially reasonable efforts to secure from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A: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 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 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 Servicer 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the 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, 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 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner's association its agreement to notify the 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 Company shall have no obligation to be maintain on each Mortgaged Property earthquake or other or additional insurance unless it is required pursuant to 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage on and such other hazards as are customary in the area where the related Mortgaged Property, in Property is located with an amount insurer which is at least equal licensed to do business in the state where the related Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any EMC Mortgage Loan, to the greater extent described below. Pursuant to Section 5.01, any amounts collected by the Company under any such policies (other than the amounts to be applied to the restoration or repair of (ithe related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Company’s normal servicing procedures) shall be deposited in the then outstanding Protected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan and (ii) an amount such Loan, notwithstanding that the proceeds thereof terms of the EMC Mortgage Loan so permit. Such costs shall be sufficient to prevent recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurerextent permitted by Section 3.09. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance. If the Mortgaged Property is located at the time of origination of the related EMC Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained. If upon origination of the maintained with respect to such EMC 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 . 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 shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related EMC Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the EMC Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.05, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the Servicer determines Company shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 3.05, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Protected Account maintained by the Company the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with its activities as amendedadministrator and servicer of the EMC Mortgage Loans, the Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageCompany agrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall not accept any such insurance policies from insurance companies unless such companies (a) currently reflect (1) a general policyholder’s rating of B+ or better and a financial size category of III or better in Best’s Key Rating Guide, or (2) a general policyholder’s rating of “A” or “A-“ or better in Best’s Key Rating Guide, and (b) are licensed to do business in the state wherein the related Mortgaged Property is located. Notwithstanding the foregoing, the Servicer may accept a policy underwritten by Lloyd’s of London or, if it is the only coverage available, coverage under a state’s Fair Access to Insurance Requirement (FAIR) Plan. If a hazard policy becomes in danger of being terminated, or the insurer ceases to have the ratings noted above, the Servicer 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 5.11. Pursuant to Section 5.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer’s normal servicing procedures, shall be deposited in the Collection Account within two Business Days after receipt, subject to withdrawal in accordance with Section 5.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating remittances to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the Mortgagor must obtain terms of such flood Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance coverage, and if said Mortgagor fails to obtain the need be required flood insurance coverage within forty-five (45) days after such notification, by the Servicer 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 place the required flood insurance on the Mortgagor’s behalfand as shall require such additional insurance.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under the Servicing Standard against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under the 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 the Servicing Standard. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under the Servicing Standard. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall notify not accept any such insurance policies from insurance companies unless such companies (a) currently reflect (1) a general policyholder's rating of B+ or better and a financial size category of III or better in Best's Key Rating Guide, or (2) a general policyholder's rating of "A" or "A-" or better in Best's Key Rating Guide, and (b) are licensed to do business in the state wherein the related Mortgagor that Mortgaged Property is located. Notwithstanding 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 notificationforegoing, the Servicer shall force place may accept a policy underwritten by Lloyd's of London or, if it is the required flood insurance on the Mortgagor’s behalf.only coverage available, coverage under a

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to FNMA or Xxxxxxx Mac, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to FNMA 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to FNMA or 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 a Mortgage is secured by a unit in a condominium project, the 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 FNMA or Xxxxxxx Mac requirements, secure from the owner’s association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 time during cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the term Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to FNMA and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.4, any amounts collected by the 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 Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.5.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Servicing Standards against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor Xxxxxxxxx fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 Servicing Standards. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under Servicing Standards. The 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 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 4.02(d), any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.02(e). Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Indenture Trustee, the Issuer, the Noteholders and the Master Servicer 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 EMC Servicer shall cause to be maintained maintained, for each EMC Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located with an insurer which is licensed to do business in the state where the Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The EMC Servicer shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any EMC Mortgage Loan, to the extent described below. Pursuant to Section 1.05 of this Exhibit K, any amounts collected by the EMC Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property, in an amount which is at least equal Property or property thus acquired or amounts released to the greater Mortgagor in accordance with the EMC Servicer’s normal servicing procedures) shall be deposited in the Protected Account. Any cost incurred by the EMC Servicer in maintaining any such insurance shall not, for the purpose of (i) calculating monthly distributions to the then outstanding Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the EMC Mortgage Loan, notwithstanding that the terms of the EMC Mortgage Loan and (ii) an amount such that the proceeds thereof so permit. Such costs shall be sufficient to prevent recoverable by the EMC Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurer. extent permitted by Section 1.08 of this Exhibit K. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance. If the Mortgaged Property is located at the time of origination of the EMC Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the EMC Servicer shall cause flood insurance to be maintained. If upon origination of the maintained with respect to such EMC 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 . 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 shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related EMC Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the EMC Servicer shall obtain and maintain a blanket policy insuring against hazard losses on all of the EMC Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 1.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the EMC Servicer determines shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 1.10, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Protected Account the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall be from the EMC Servicer’s own funds without reimbursement therefor. In connection with its activities as amendedadministrator and servicer of the EMC Mortgage Loans, the EMC Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageagrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall not accept any such insurance policies from insurance companies unless such companies (a) currently reflect (1) a general policyholder’s rating of B+ or better and a financial size category of III or better in Best’s Key Rating Guide, or (2) a general policyholder’s rating of “A” or “A-“ or better in Best’s Key Rating Guide, and (b) are licensed to do business in the state wherein the related Mortgaged Property is located. Notwithstanding the foregoing, the Servicer may accept a policy underwritten by Lloyd’s of London or, if it is the only coverage available, coverage under a state’s Fair Access to Insurance Requirement (FAIR) Plan. If a hazard policy becomes in danger of being terminated, or the insurer ceases to have the ratings noted above, the Servicer shall notify 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. Pursuant to Section 5.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer’s normal servicing procedures, shall be deposited in the Collection Account within two Business Days after receipt, subject to withdrawal in accordance with Section 5.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating remittances to the Purchaser, be added to the Unpaid Principal Balance of the related Mortgage Loan, notwithstanding that the Mortgagor must obtain terms of such flood Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance coverage, and if said Mortgagor fails to obtain the need be required flood insurance coverage within forty-five (45) days after such notification, by the Servicer 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 place the required flood insurance on the Mortgagor’s behalfand as shall require such additional insurance.

Maintenance of Hazard Insurance. In connection with its activities as servicer, the Seller agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any hazard insurance policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any hazard insurance policy. The Servicer Seller shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis and (ii) the outstanding principal balance of the Mortgage Loan and (ii) plus, with respect to any Second Lien Mortgage Loan, the outstanding principal balance of the First Lien Mortgage 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by If 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 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 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 Seller 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 improvements which are a part of such property and (ii) the outstanding principal balance of the Mortgage Loan plus, with respect to any Second Lien Mortgage Loan, the Servicer determines in accordance with applicable law outstanding principal balance of the First Lien Mortgage Loan, at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and pursuant related Servicing Advances, liability insurance and, to the Xxxxxx Xxx 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, flood insurance in an amount as provided above. Pursuant to Subsection 11.04, any amounts collected by the Servicer Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Seller’s normal servicing procedures, shall notify be deposited in the Custodial Account, subject to withdrawal pursuant to Subsection 11.05. 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 Mortgagor 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 must obtain or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to such flood insurance coverageapplicable 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 if said Mortgagor fails shall provide for at least thirty days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer Seller. The Seller shall force place the required flood insurance on not interfere with the Mortgagor’s behalffreedom 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 Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Servicer 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 shall make commercially reasonable efforts to secure from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A: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 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 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 3.03, any amounts collected by the Servicer 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.04. 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, 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 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 Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage on and such other hazards as are customary in the area where the related Mortgaged Property, in Property is located with an amount insurer which is at least equal licensed to do business in the state where the related Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any EMC Mortgage Loan, to the greater extent described below. Pursuant to Section 5.01, any amounts collected by the Company under any such policies (other than the amounts to be applied to the restoration or repair of (ithe related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Company’s normal servicing procedures) shall be deposited in the then outstanding Protected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan and (ii) an amount such Loan, notwithstanding that the proceeds thereof terms of the EMC Mortgage Loan so permit. Such costs shall be sufficient to prevent recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurerextent permitted by Section 5.02. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance. If the Mortgaged Property is located at the time of origination of the related EMC Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained. If upon origination of the maintained with respect to such EMC 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 . 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 shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related EMC Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the EMC Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.05, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the Servicer determines Company shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 3.05, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Protected Account maintained by the Company the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with its activities as amendedadministrator and servicer of the EMC Mortgage Loans, the Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageCompany agrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders and the Certificate Insurers, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to FNMA or FHLMC, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to FNMA or FHLMC, 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to FNMA or FHLMC, 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 a Mortgage is secured by a unit in a condominium project, the 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 FNMA or FHLMC requirements, secure from the owner's association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 time during cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the term Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to FNMA and FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.4, any amounts collected by the 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 Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.5.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the outstanding principal balance of the Mortgage Loan and (ii) plus with respect to any second lien Mortgage Loan, the outstanding principal balance of the related first lien mortgage 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by If 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 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 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 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 Servicer also shall maintain on any time during the term of the Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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, flood insurance in an amount as provided above. Pursuant to Subsection 11.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Subsection 11.05. Any cost incurred by the Servicer 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 Servicer 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 Servicer, or upon request to the Purchaser, and shall provide for at least thirty days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall notify 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 related Mortgagor that state wherein the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails property subject to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer shall force place the required flood insurance on the Mortgagor’s behalfpolicy is located.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan, with hazard insurance such that all buildings upon the Mortgaged Property or Cooperative Unit, as applicable, are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty or Cooperative Unit, as applicable, is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 Mortgage Loan, the related Mortgaged Property or Cooperative Unit, as applicable, 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 A:VI or better in Best'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 Mortgage Loan, the Servicer Seller determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a Mortgaged Property or Cooperative Unit, as applicable, 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 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 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 or Cooperative Unit, the 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 Mae requirements, and secure from the owner's association its agreement to notify the 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 or Cooperative Unit, as applicable, as security. The Seller shall cause to be maintained on each Mortgaged Property or Cooperative Unit, as applicable, earthquake or such other or additional insurance 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 Purchaser or the Seller shall determine that the Mortgaged Property or Cooperative Unit, as applicable, 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 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 or Cooperative Unit, as applicable. All policies required hereunder shall name the Seller as loss payee and shall be endorsed with standard or 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 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 are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 2.04, any amounts collected by the 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 Cooperative Unit, as applicable, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Seller's normal servicing procedures as specified in Section 2.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the sum of the outstanding principal balance of the Mortgage Loan (including any cumulative related Negative Amortization) and (ii) the outstanding principal balance of the related first lien mortgage loan, if applicable, 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by If 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 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 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 carrier, in an amount representing coverage equal to not less than the lesser of (i) the minimum outstanding principal balance of the Mortgage Loan (plus, if the Mortgage Loan provides for negative amortization, the maximum amount requiredof Negative Amortization in accordance with the Mortgage), under (ii) the terms of coverage, amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) 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 Servicer also shall maintain on any time during the term of the Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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 (including any cumulative related Negative Amortization) 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, flood insurance in an amount as provided above. Pursuant to Subsection 11.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Subsection 11.05. Any cost incurred by the Servicer 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 Servicer 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 Servicer, 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 Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall notify 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, are acceptable to Xxxxxx Xxx and Xxxxxxx Mac and are licensed to do business in the related Mortgagor that state wherein the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails property subject to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer shall force place the required flood insurance on the Mortgagor’s behalfpolicy is located.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable under Fxxxxx Mxx and Fxxxxxx Mac guidelines against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Servicer 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 Fxxxxx Mxx requirements, and shall make commercially reasonable efforts to secure from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A: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 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 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 3.03, any amounts collected by the Servicer 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.04. 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, 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 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 Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Servicer 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 shall make commercially reasonable efforts to secure from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A: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 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 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 Servicer 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the 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, 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 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the lesser of (a) 100% of the insurable value, on a replacement cost 44 basis, of the improvements on the related Mortgaged Property, or (b) the greater of (i) the then outstanding principal balance of the Mortgage Loan and or (ii) an amount such that the proceeds thereof of such insurance shall be sufficient to prevent avoid the application to the Mortgagor or the loss payee from becoming of any coinsurance clause under the policy. In the event a co-insurer. It is understood and agreed that no earthquake hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to Xxxxxx Mae or 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 Mortgage Loan, the Servicer Company determines in accordance with the applicable law and pursuant to the Xxxxxx Xxx Guides Mae 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 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 Servicer Company shall 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 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 requirements, and secure from the owner's association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Qualified Insurer 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner's association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from a Qualified Insurer and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to Xxxxxx Mae or 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 a Mortgage is secured by a unit in a condominium project, the 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 Mae or Xxxxxxx Mac requirements, secure from the owner’s association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 time during cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the term Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.4, any amounts collected by the 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 Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.5.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a FNMA or FHLMC acceptable insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Flood Insurance Administration is in effect with a generally acceptable insurance carrier 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 replacement-cost basis (or the unpaid balance of the mortgage Mortgage Loan 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 a Mortgage is secured by a unit in a condominium, the Company shall have received a certificate of insurance evidencing a master policy held by the owner's association and naming the Company as loss payee. In the event that the Purchaser or the Company shall determine that the Mortgaged Property (or, in the case of a Cooperative Loan, the related Cooperative Unit) 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 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 Company as loss payee and shall be endorsed with standard mortgagee clauses, which shall provide for at least 30 days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies satisfy the requirements of FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time during for the term Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 4.04, any amounts collected by the 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, in the case of a Cooperative Loan, the related Cooperative Unit), or property acquired in liquidation of the Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under the Servicing Standard against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under the 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 the Servicing Standard. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under the Servicing Standard. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Servicer Countrywide shall cause to be maintained maintained, for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to set forth in the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 maintainedUnderwriting Guidelines. If upon origination of the Mortgage Loan, the related Mortgaged Property was located is in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , Countrywide shall cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal National Flood Insurance Administration is in effect program (or any successor thereto) with a generally acceptable Qualified Insurer and with coverage set forth in the Underwriting Guidelines. Countrywide shall also maintain on REO Property, (1) fire and hazard insurance carrier with extended coverage in an amount representing coverage equal to the lesser of that is not less than (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 maximum insurable value of the mortgage if replacement cost coverage is not available for the type improvements that are a part of building insured) such property and (ii) the maximum amount unpaid principal balance of the related Mortgage Loan (including any cumulative related Negative Amortization) at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and related Servicing Advances, liability insurance which is and, to the extent required and available under the National Flood Disaster Protection Insurance Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance 1968 or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above; (2) liability insurance; and (3) to the Servicer extent required and available under the National Flood Insurance Reform Act of 1994, flood insurance in an amount as provided above. Countrywide shall notify deposit in the related Mortgagor that Custodial Account all amounts collected under any such policies except (A) amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property and (B) amounts to be released to the Mortgagor must obtain in accordance with Countrywide’s normal servicing procedures. The Purchaser understands and agrees that no earthquake or other additional insurance on property acquired in respect of the Mortgage Loan shall be maintained by Countrywide or Mortgagor. All such flood insurance coverage, policies shall be endorsed with standard mortgagee clauses with loss payable to Countrywide and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five shall provide for at least thirty (4530) days after such notificationprior written notice to Countrywide of any cancellation, reduction in the Servicer amount of coverage or material change in coverage. Countrywide shall force place the required flood insurance on not interfere with the Mortgagor’s behalffreedom of choice in selecting either the insurance carrier or agent; provided, however, that Countrywide shall only accept insurance policies from a Qualified Insurer.

Maintenance of Hazard Insurance. The Interim Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the sum of the outstanding principal balance of the Mortgage Loan (including any cumulative related Negative Amortization) and (ii) the outstanding principal balance of the related first lien mortgage loan, if applicable, 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by If 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 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 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 Mortgage Loan (plus, if replacement cost coverage is not available the Mortgage Loan provides for negative amortization, the type maximum amount of building insuredNegative Amortization in accordance with the Mortgage) and 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 Interim Servicer also shall maintain on any time during the term of the Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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 (including any cumulative related Negative Amortization) 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, flood insurance in an amount as provided above. Pursuant to Subsection 11.04, any amounts collected by the 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 Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Interim Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Subsection 11.05. Any cost incurred by the Interim Servicer 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 Interim Servicer 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 Interim Servicer, 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 Interim Servicer. The Interim Servicer shall notify not interfere with the related Mortgagor Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, 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 Interim Servicer shall force place 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, are acceptable to Fxxxxx Mxx and Fxxxxxx Mac and are licensed to do business in the required flood insurance on state wherein the Mortgagor’s behalfproperty subject to the policy is located.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Accepted Servicing Practices against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under Accepted Servicing Practices in an amount representing coverage equal to the lesser of (i) the minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides Accepted Servicing Practices 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under Accepted Servicing Practices and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Fxxxxx Mxx or Fxxxxxx Mac against loss by fire, hazards of extended coverage on and such other hazards as are customary or required by law in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to Fxxxxx Mae or Fxxxxxx 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the Mortgage Loan, the related Mortgaged Property was is located in an area identified in by the Federal Register by the Flood 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 insurance carrier acceptable to Fxxxxx Mae or 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides 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 Servicer Company 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 Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. Any out-of-pocket expenses or advance made by the Company 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 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 Fxxxxx Mae requirements, and secure from the owner’s association its agreement to notify the 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. In the event that any Purchaser or the 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 Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the required amount of coverage for the Mortgaged Property 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 Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Fxxxxx Mxx and Fxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 Company shall furnish to the Mortgagor a formal notice of expiration, in accordance with the Accepted Servicing Practices, of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Servicing Standards against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 Servicing Standards. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under Servicing Standards. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides Fanxxx Xxe Xxides 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalf.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to the Agencies, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to the Agencies, 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to the 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 a Mortgage is secured by a unit in a condominium project, the 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 Agency requirements, and secure from the owner's association its agreement to notify the 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. In the event that any Purchaser or the 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 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 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 time during cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the term Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to the applicable Agency and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurerQualified Insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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. In the event a hazard insurance policy shall be in danger of being terminated, the Servicer shall notify the related Mortgagor, and shall use its commercially reasonable 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 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) ), the 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx 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 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) 45 days after such notification, the Servicer shall force place the required flood insurance on the Mortgagor’s 's behalf. Any out-of-pocket expenses or advance made by the Servicer on such force placed flood insurance coverage shall be deemed a Servicing Advance. All policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard 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 Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either an insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Servicer shall furnish to the Mortgagor a written 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 4.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary or required by law in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance is required terminated, or in the event the insurer shall cease to be maintained meet the requirements hereof, the Company shall, in accordance with Accepted Servicing Practices and as permitted by applicable law, obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.12 hereof. If upon origination of the 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:III or better 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 Servicer Company 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 Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. Any out-of-pocket expenses or advance made by the Company 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 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 Fannie Mae or Freddie Mac requirements, and secure from the owner's xxxxxxaxxxn itx xxxxxment to notify the 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. In the event that the Purchaser or the 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 Company, may in accordance with Accepted Servicing Practices and in its own 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 Company as loss payee and shall be endorsed with standard 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are B:III or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Company shall determine that such policies are in compliance with the requirements of Section 4.11 and that they insure the Mortgagor with respect to the related Mortgaged Property. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.06.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Accepted Servicing Practices against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under Accepted Servicing Practices in an amount representing coverage equal to the lesser of (i) the minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides Accepted Servicing Practices 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under Accepted Servicing Practices and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Mortagor (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 Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best's against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are required to be insured pursuant to the related Mortgaged PropertyFNMA Guides, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 If 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 Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Emergency Management Agency Disaster Protection Act of 1973, as having special flood hazards (and such flood insurance has been made available) amended, each Mortgage Loan is 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 A:VI or better in Best'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 outstanding principal balance of the mortgage if replacement cost coverage is not available for the type of building insured) related Mortgage Loan 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall force place immediately purchase the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the 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 FNMA requirements, provided, however, that in the alternative, the Servicer may elect to maintain single-interest (blanket) coverage, at its own expense, in lieu of tracking insurance with respect to individual condominium units. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 primary mortgage guaranty insurer. All policies required hereunder shall name the Servicer and its successors and assigns as mortgagee and shall be endorsed with non-contributory standard mortgagee clauses which shall provide for at least thirty (30) days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the FNMA Guides, that they insure the property owner, and that they properly describe the property address. To the extent reasonably possible the 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 coverage and the Servicer shall be solely liable for any losses in the event such coverage is not provided. Pursuant to Section 2.4, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.5.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall not accept any such insurance policies from insurance companies unless such companies (a) currently reflect (1) a general policyholder’s rating of B+ or better and a financial size category of III or better in Best’s Key Rating Guide, or (2) a general policyholder’s rating of “A” or “A-“ or better in Best’s Key Rating Guide, and (b) are licensed to do business in the state wherein the related Mortgaged Property is located. Notwithstanding the foregoing, the Servicer may accept a policy underwritten by Lloyd’s of London or, if it is the only coverage available, coverage under a state’s Fair Access to Insurance Requirement (FAIR) Plan. If a hazard policy becomes in danger of being terminated, or the insurer ceases to have the ratings noted above, the Servicer 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 5.11. Pursuant to Section 5.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer’s servicing procedures, in compliance with this Agreement shall be deposited in the Collection Account within two Business Days after receipt, subject to withdrawal in accordance with Section 5.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating remittances to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the Mortgagor must obtain terms of such flood Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance coverage, and if said Mortgagor fails to obtain the need be required flood insurance coverage within forty-five (45) days after such notification, by the Servicer 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 place the required flood insurance on the Mortgagor’s behalfand as shall require such additional insurance.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage on and such other hazards as are customary in the area where the related Mortgaged Property, in Property is located with an amount insurer which is at least equal licensed to do business in the state where the related Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any EMC Mortgage Loan, to the greater extent described below. Pursuant to Section 5.01, any amounts collected by the Company under any such policies (other than the amounts to be applied to the restoration or repair of (ithe related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Company’s normal servicing procedures) shall be deposited in the then outstanding Protected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan and (ii) an amount such Loan, notwithstanding that the proceeds thereof terms of the EMC Mortgage Loan so permit. Such costs shall be sufficient to prevent recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurerextent permitted by Section 5.02. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance. If the Mortgaged Property is located at the time of origination of the related EMC Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained. If upon origination of the maintained with respect to such EMC 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 . 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 shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related EMC Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the EMC Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.05, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the Servicer determines Company shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 3.05, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Protected Account maintained by the Company the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with its activities as amendedadministrator and servicer of the EMC Mortgage Loans, the Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageCompany agrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders and the Insurer, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the outstanding principal balance of the Mortgage Loan and (ii) 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by In the case of second liens, the Servicer in connection with may request the first lienholder to address any Mortgage Loan or Mortgaged Property, other than pursuant insurance discrepancies prior to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedtaking corrective action itself. If upon origination of the 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 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 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 and the Flood Disaster Protection Act of 1973, as amended. If at The Servicer also shall maintain on any time during the term of the Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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 and the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Pursuant to Subsection 11.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Subsection 11.05. Any cost incurred by the Servicer 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 Servicer 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 Servicer, or upon request to the Purchaser, and shall provide for at least thirty days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall notify not accept any such insurance policies from insurance companies unless such companies currently reflect a General Policy Rating of A:X or better in Best's Key Rating Guide and are licensed to do business in the related Mortgagor that state wherein the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails property subject to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer shall force place the required flood insurance on the Mortgagor’s behalfpolicy is located.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall notify the related Mortgagor that the Mortgagor must obtain not accept any such flood insurance coveragepolicies from insurance companies unless such companies (a) currently reflect (1) a general policyholder's rating of B+ or better and a financial size category of III or better in Best's Key Rating Guide, or (2) a general policyholder's rating of "A" or "A-" or better in Best's Key Rating Guide, and if said Mortgagor fails (b) are licensed to obtain do business in the required flood insurance coverage within forty-five (45) days after such notification, the Servicer shall force place the required flood insurance on the Mortgagor’s behalf.state

Maintenance of Hazard Insurance. The Servicer shall shall, to the extent it is notified or discovers that hazard insurance has not been maintained for a Mortgage Loan, or if all obligations of a Mortgagor have been satisfied with respect to each Superior Lien related to a Mortgage Loan, cause to be maintained for each such Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 A: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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 notificationnotification and the holder of the Superior Lien fails to require or force place the required flood insurance under this Section 3.10, the 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 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 Mae requirements, and secure from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s Key Rating Guide or are acceptable to Xxxxxx Xxx or Xxxxxxx Mac and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.04.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalf.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under the Servicing Standard against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under the 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 the Servicing Standard. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under the Servicing Standard. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Servicer Seller shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements that are a part of such property on a replacement cost basis, (ii) the outstanding principal balance of the Mortgage Loan and Loan, or (iiiii) an amount such that the proceeds thereof shall be sufficient to prevent maximum insurable value of 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 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 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 Mortgage Loan (plus any additional amount required to prevent the type of building insuredMortgagor from being deemed a co-insurer) and or (ii) the maximum amount of insurance which that 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 Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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 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 (plus any additional amount required by to prevent the Mortgagor from being deemed a co-insurer) 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 and available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Pursuant to Section 11.04, any amounts collected by the Servicer Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Seller's normal servicing procedures, shall notify be deposited in the Custodial Account, subject to withdrawal pursuant to Section 11.05. 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 Mortgagor 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 must obtain or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to such flood insurance coverageapplicable 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 if said Mortgagor fails shall provide for at least thirty days prior written notice to obtain the required flood insurance coverage within forty-five (45) days after such notificationSeller of any cancellation, reduction in the Servicer amount of, or material change in, coverage. The Seller shall force place the required flood insurance on not interfere with the Mortgagor’s behalf's freedom of choice in selecting either its insurance carrier or its 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 Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance such that all buildings upon the Mortgaged Property are insured against loss by fire, hazards of extended coverage on and such other hazards as are required to be insured pursuant to the related Mortgaged Property, FNMA Guides in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the does not exceed FNMA guidelines. If required by applicable law, each Mortgage Loan and (ii) 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 covered 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 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 all current federal guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance 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) related Mortgage Loan 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall force place immediately purchase the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Servicer shall verify that a Master Certificate indicating the existence of insurance coverage for such project (including hazard, flood, liability, and fidelity coverage), was obtained by the originating lender at the time the Mortgage Loan was originated. If Servicer at any time receives notice of any cancellation, reduction in amount or material change in such insurance coverage, Servicer shall use its best efforts to obtain replacement coverage that is substantially similar to the original. Failure of Servicer to obtain satisfactory replacement coverage within sixty (60) days after receiving notice of any cancellation, reduction in amount or material change in such insurance coverage will permit Purchaser to request repurchase of any affected Mortgage Loan pursuant to Section 8.03 of the Purchase Agreement. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 primary mortgage guaranty insurer. All policies required hereunder shall name the Servicer and its successors and assigns as mortgagee and shall provide for at least thirty (30) days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies which do not meet or exceed applicable FNMA guidelines. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the FNMA Guides, that they insure the property owner, and that they properly describe the property address. To the extent reasonably possible the 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 such coverage is not provided. Pursuant to Section 2.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides Faxxxx Xax Xuides 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 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 notificationnotification and the holder of the Superior Lien fails to require or force place the required flood insurance under this Section 3.13, the Servicer shall force place the required flood insurance on the Mortgagor’s behalf.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage on and such other hazards as are customary in the area where the related Mortgaged Property, in Property is located with an amount insurer which is at least equal licensed to do business in the state where the related Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any EMC Mortgage Loan, to the greater extent described below. Pursuant to Section 5.01, any amounts collected by the Company under any such policies (other than the amounts to be applied to the restoration or repair of (ithe related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Company's normal servicing procedures) shall be deposited in the then outstanding Protected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan and (ii) an amount such Loan, notwithstanding that the proceeds thereof terms of the EMC Mortgage Loan so permit. Such costs shall be sufficient to prevent recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurerextent permitted by Section 5.02. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance. If the Mortgaged Property is located at the time of origination of the related EMC Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained. If upon origination of the maintained with respect to such EMC 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 . 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 shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related EMC Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the EMC Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.05, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the Servicer determines Company shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 3.05, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Protected Account maintained by the Company the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall be from the Company's own funds without reimbursement therefor. In connection with its activities as amendedadministrator and servicer of the EMC Mortgage Loans, the Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageCompany agrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Servicing Standards against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor Xxxxxxxxx fails to obtain the required flood insurance coverage within forty-five thirty (4530) days after such notification, the Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 Servicing Standards. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under Servicing Standards. The 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 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 4.02(d), any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.02(e). Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Indenture Trustee, the Issuer, the Noteholders and the Master Servicer 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Qualified Insurer 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard fxxxx xaxxxd 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 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 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 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 Fannie Mae requirements, and secure from the owner's association its xxxxxxent to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall only accept any such insurance policies from Qualified Insurers licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 Mortgage Loan, the related a 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 A:VI or better in Best'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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner's association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount amount, subject to the limits of insurability required by applicable law, which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the sum of the outstanding principal balance of the Mortgage Loan and (ii) the outstanding principal balance of the related first lien mortgage loan, if applicable, 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by If 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 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 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 Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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, flood insurance in an amount as provided above. Pursuant to Subsection 11.04, any amounts collected by the Servicer Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Seller’s normal servicing procedures, shall notify be deposited in the Custodial Account, subject to withdrawal pursuant to Subsection 11.05. 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 Mortgagor 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 must obtain or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to such flood insurance coverageapplicable 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 if said Mortgagor fails to obtain the required flood insurance coverage within forty-five shall provide for at least thirty (4530) days after such notificationprior written notice of any cancellation, reduction in the Servicer amount of, or material change in, coverage to the Seller. The Seller shall force place the required flood insurance on not interfere with the Mortgagor’s behalffreedom 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, are acceptable to Fxxxxx Mae and Fxxxxxx Mac and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Fannie Mae or Freddie Mac against loss by fire, hazards of extended coverage on covxxxxx axx such xxxxx hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) an amount such that the proceeds thereof of such insurance shall be sufficient to prevent the application to the Mortgagor or the loss payee from becoming of any coinsurance clause under the policy. In the event a co-insurer. It is understood and agreed that no earthquake hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to Fannie Mae or Freddie Mac, the Company shall notify the Purchaser and txx xxxated Morxxxxxx, 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the Mortgage Loan, the related Mortgaged Property was is located in an area identified in by 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 acceptable to Fannie Mae or Freddie Mac in an amount representing coverage equal to the lesser txx xxxser of (ix) the xxx 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 19731968, as amended. If at any time during the term of the Mortgage Loan, the Servicer Company determines in accordance with the applicable law and pursuant to the Xxxxxx Xxx Guides Fannie Mae or Freddie Mac guide, that a the Mortgaged Property is located in a xx x special flood hazard xxxxx xazard 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 19731968, as amended, the 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 Servicer Company shall 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 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 Fannie Mae requirements, and secure from the owner's association its agxxxxxxt to notify the 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. In the event that the Purchaser or the 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 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 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 Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Fannie Mae and Freddie Mac and are licensed to do business in the jurisxxxxxxn xx whicx xxx Xortgaged Property is located. The 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. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Eligible Mortgage Loan, with Loan (other than HELOCs and Closed End Second Mortgage Loans) hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Eligible Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Eligible Mortgage Loan and (iib) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor Borrower 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 or acquisition of the Eligible 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 Servicer shall cause to be in effect a flood insurance policy meeting the requirements of the current guidelines of the Federal Flood Insurance Administration is in effect with a generally acceptable insurance carrier rated A:VI or better in Best’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 Eligible Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides Guidelines 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 Servicer shall notify the related Mortgagor Borrower that the Mortgagor Borrower must obtain such flood insurance coverage, and if said Mortgagor Borrower fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer shall immediately force place the required flood insurance on the MortgagorBorrower’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such additional insurance 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 Servicer shall determine, in accordance with Accepted Services Practices 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 Borrower pursuant to the terms of the Mortgage, the Servicer shall communicate and consult with the Borrower with respect to the need for such insurance and bring to the Borrower’s attention the desirability of protection of the Mortgaged Property. The Servicer shall not interfere with the Borrower’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 Servicer shall furnish to the Borrower a formal notice of expiration of any such insurance in sufficient time for the Borrower to arrange for renewal coverage by the expiration date. Pursuant to Section 4.5 hereof, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in any Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Eligible Mortgage Loan, or to be released to the Borrower, in accordance with Accepted Servicing Practices as specified in Section 4.15 hereof) shall be deposited in the Collection Account.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located with an insurer which is licensed to do business in the state where the Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Master Servicer shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan, to the extent described below. Pursuant to Section 3.05 hereof, any amounts collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property, in an amount which is at least equal Property or property thus acquired or amounts released to the greater Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of (i) calculating monthly distributions to the then outstanding Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan and (ii) an amount such Loan, notwithstanding that the proceeds thereof terms of the Mortgage Loan so permit. Such costs shall be sufficient to prevent recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurerextent permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance to be maintainedinsurance. If upon the Mortgaged Property is located at the time of origination of the Mortgage LoanLoan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, 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 Master Servicer shall cause flood insurance has been made available) a to be maintained with respect to such Mortgage Loan. Such flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier shall be in an amount representing coverage equal to the lesser least of (i) the Stated Principal Balance of the related Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis basis, or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the Master Servicer shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the Master Servicer determines shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 3.10, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Certificate Account the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall constitute a Servicing Advance. In connection with its activities as amendedadministrator and servicer of the Mortgage Loans, the Master Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageagrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under the Servicing Standard against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under the 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 the Servicing Standard. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under the Servicing Standard. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. Notwithstanding anything set forth in the preceding paragraph, the Servicer agrees to indemnify the Indenture Trustee, the Noteholders, the Master Servicer and the Issuer 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Qualified Insurer 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from a Qualified Insurer and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for for, to the extent permitted in each Mortgage LoanXXX, with a generally acceptable insurer, fire and hazard insurance such that all buildings upon the Mortgaged Property are insured against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater of (i) the then outstanding principal balance full replacement value of the Mortgage Loan improvements securing such XXX (where permitted) by companies that currently reflect a General Policy Rating in Best's Key Rating Guide ("Best's") currently acceptable to Xxxxxx Xxx and are licensed to do business in the state wherein its property subject to the policy is located (ii) 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"Best's Approved Insurer"). If upon origination of the Mortgage LoanXXX, 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 Flood Insurance Administration is in effect with a generally acceptable insurance carrier Best's Approved Insurer in an amount representing coverage equal to the lesser of (i) the outstanding principal balance of the XXX, (ii) 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 (iiiii) 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 Mortgage LoanXXX, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides and Xxxxxxx Mac 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. It is understood and agreed that no other additional insurance need be required by the Servicer or the Mortgagor or maintained on property acquired in respect of the XXXx, other than pursuant to the Xxxxxx Mae Guide or Xxxxxxx Mac Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer and its successors and/or assigns and shall provide for at least thirty days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are a Best's Approved Insurer. The 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 Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 Purchaser or the 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 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. Pursuant to Section 5.4, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in any Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the XXX, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures as specified in Section 5.14) shall be deposited in any Collection Account subject to withdrawal pursuant to Section 5.5.

Maintenance of Hazard Insurance. (i) The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable under the Servicing Standard against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 . (ii) In the event the Mortgagor fails to maintain a hazard insurance is required policy with respect to the related Mortgaged Property, the Servicer shall cause to be maintained with respect to each Mortgage Loan a hazard insurance policy with a generally acceptable carrier in accordance with the Servicing Standard that provides for fire and extended coverage, and for a recovery of any Insurance Proceeds relating to such Mortgage Loan by the Servicer in connection with any Mortgage Loan or Mortgaged Property, other than pursuant to applicable laws and regulations that require on behalf of the Servicer to cause such additional insurance to be maintained. Owner. (iii) If upon origination of the 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 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 an insurer acceptable insurance carrier under the 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. (iv) With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of property taxes, assessments and other Property Charges that are or may become a lien upon the Mortgaged Property, all as required hereunder. (v) With respect to each Mortgage Loan that provides for the collection of Escrow Payments for the payment of fire and hazard insurance and flood insurance, if applicable, the Servicer shall effect the payment thereof payable when due and prior to the applicable policy termination date, employing for such purpose deposits in the Escrow Account which shall have been estimated and accumulated by the Servicer in the amounts sufficient for such purposes. In accordance with the terms of this Agreement, to the extent a Mortgage Loan does not provide for Escrow Payments and the Mortgagor fails to maintain any required insurance coverage, the Servicer shall by a Servicing Advance make the payment required to effect the applicable in-force policy for the related Mortgaged Property. o All policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard 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. o The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are an insurer acceptable under the Servicing Standard. The 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 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. (vi) The Servicer at its option may obtain and maintain, with respect to all or any portion of the Mortgage Loans, a blanket insurance policy with extended coverage insuring against fire and hazard , as applicable. The Servicer shall be deemed conclusively to have satisfied its obligations with respect to hazard insurance and flood insurance coverage under this Section 3.11 if such blanket policy names the Servicer as "loss payee" and provides coverage in an amount equal to the aggregate unpaid principal balance of the Mortgage Loans without co-insurance. If such policy contains a deductible clause, the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with clause (a) of this Section 3.11, and there shall have been a loss that would have been covered by such policy, deposit in the Collection Account the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Servicer's funds, without reimbursement therefor. 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 thirty (30) days' prior written notice to the Owner. In connection with its activities as Servicer of the Mortgage Loans, the Servicer agrees to present, on behalf of itself and the Owner, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Qualified Insurer 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Fannie Mae Xxxxxx Xxx Guides that xxxt 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 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 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 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 Fannie Mae xxxxxxements, and secure from the owner's association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall only accept any such insurance policies from Qualified Insurers licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located with an insurer which is licensed to do business in the state where the Mortgaged Property is located. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Master Servicer shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan, to the extent described below. Pursuant to Section 3.05 hereof, any amounts collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property, in an amount which is at least equal Property or property thus acquired or amounts released to the greater Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of (i) calculating monthly distributions to the then outstanding Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan and (ii) an amount such Loan, notwithstanding that the proceeds thereof terms of the Mortgage Loan so permit. Such costs shall be sufficient to prevent recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the loss payee from becoming a co-insurerextent permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is required to be required of any Mortgagor or maintained by the Servicer on property acquired in connection with any respect of a Mortgage Loan or Mortgaged Property, other than pursuant to such applicable laws and regulations that as shall at any time be in force and as shall require the Servicer to cause such additional insurance to be maintainedinsurance. If upon the Mortgaged Property is located at the time of origination of the Mortgage LoanLoan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, 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 Master Servicer shall cause flood insurance has been made available) a to be maintained with respect to such Mortgage Loan. Such flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier shall be in an amount representing coverage equal to the lesser of (i) the Stated Principal Balance of the related Mortgage Loan, (ii) minimum amount required, under the terms of coverage, required to compensate for any damage or loss on a replacement cost basis basis, or (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (iiiii) the maximum amount of such insurance which is available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. If at any time during In the term event that the Master Servicer shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgage LoanLoans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.10, it being understood and agreed that such policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause, the Master Servicer determines shall, in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides event that a there shall not have been maintained on the related Mortgaged Property is located in a special flood hazard area policy complying with the first sentence of this Section 3.10, and is not there shall have been a loss that would have been covered by flood insurance or is covered such policy, deposit in an amount less than the Certificate Account the amount required by not otherwise payable under the Flood Disaster Protection Act blanket policy because of 1973, such deductible clause. Such deposit shall constitute a Servicing Advance. In connection with its activities as amendedadministrator and servicer of the Mortgage Loans, the Master Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverageagrees to present, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationon behalf of itself, the Servicer shall force place Depositor and the required flood insurance on Trustee for the Mortgagor’s behalfbenefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated B:III or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary or required by law in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance is required terminated, or in the event the insurer shall cease to be maintained meet the requirements hereof, the Company shall, in accordance with Accepted Servicing Practices and as permitted by applicable law, obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.12 hereof. If upon origination of the 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:III or better 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 Servicer Company 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 Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. Any out-of-pocket expenses or advance made by the Company 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 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 or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the 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. In the event that the Purchaser or the 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 Company, may in accordance with Accepted Servicing Practices and in its own 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 Company as loss payee and shall be endorsed with standard 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are B:III or better in Best’s and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Company shall determine that such policies are in compliance with the requirements of Section 4.11 and that they insure the Mortgagor with respect to the related Mortgaged Property. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.06.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall not accept any such insurance policies from insurance companies unless such companies (a) currently reflect (1) a general policyholder’s rating of B+ or better and a financial size category of III or better in Best’s Key Rating Guide, or (2) a general policyholder’s rating of “A” or “A-” or better in Best’s Key Rating Guide, and (b) are licensed to do business in the state wherein the related Mortgaged Property is located. Notwithstanding the foregoing, the Servicer may accept a policy underwritten by Xxxxx’x of London or, if it is the only coverage available, coverage under a state’s Fair Access to Insurance Requirement (FAIR) Plan. If a hazard policy becomes in danger of being terminated, or the insurer ceases to have the ratings noted above, the Servicer 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 5.11. Pursuant to Section 5.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer’s normal servicing procedures, shall be deposited in the Collection Account within two Business Days after receipt, subject to withdrawal in accordance with Section 5.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating remittances to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the Mortgagor must obtain terms of such flood Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance coverage, and if said Mortgagor fails to obtain the need be required flood insurance coverage within forty-five (45) days after such notification, by the Servicer 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 place the required flood insurance on the Mortgagor’s behalfand as shall require such additional insurance.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and hazard insurance of extended coverage on the related Mortgaged Property, in an amount which is at least equal to the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides Fannie Mxx Xxxdxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalf.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which that is at least equal to the greater lesser of (ia) the then outstanding principal balance maximum insurable value of the improvements securing such Mortgage Loan and (iib) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or and/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 If 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 Mortgage Loan, the related Mortgaged Property was located is in an area identified in by the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) , then the 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 carrier, in an amount representing coverage equal to not less than the lesser of (ia) 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 related Mortgage Loan if replacement cost coverage is not available for the type of building insured) and or (iib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Servicer determines area in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides that a which such Mortgaged Property is located is participating in a special flood such program). The Servicer shall also maintain on each REO Property fire, hazard area and is not covered by flood insurance or is covered in an amount less than liability insurance, and to the amount extent required by and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall not accept any such insurance policies from insurance companies unless such companies (a) currently reflect (1) a general policyholder's rating of B+ or better and a financial size category of III or better in Best's Key Rating Guide, or (2) a general policyholder's rating of "A" or "A-" or better in Best's Key Rating Guide, and (b) are licensed to do business in the state wherein the related Mortgaged Property is located. Notwithstanding the foregoing, the Servicer may accept a policy underwritten by Lloyd's of London or, if it is the only coverage available, coverage under a state's Fair Access to Insurance Requirement (FAIR) Plan. If a hazard policy becomes in danger of being terminated, or the insurer ceases to have the ratings noted above, the Servicer 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 5.11. Pursuant to Section 5.04, any amounts collected by the Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account within two Business Days after receipt, subject to withdrawal in accordance with Section 5.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating remittances to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the Mortgagor must obtain terms of such flood Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance coverage, and if said Mortgagor fails to obtain the need be required flood insurance coverage within forty-five (45) days after such notification, by the Servicer 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 place the required flood insurance on the Mortgagor’s behalfand as shall require such additional insurance.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer that satisfies the requirements of FNMA or FHLMC against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 Flood Insurance Administration is in effect with a generally acceptable insurance carrier 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 replacement-cost basis (or the unpaid balance of the mortgage Mortgage Loan 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 a Mortgage is secured by a unit in a condominium, the Company shall have received a certificate of insurance evidencing a master policy held by the owner's association and naming the Company as loss payee. In the event that the Purchaser or the Company shall determine that the Mortgaged Property (or, in the case of a Cooperative Loan, the related Cooperative Unit) 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 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 Company as loss payee and shall be endorsed with standard mortgagee clauses, which shall provide for at least 30 days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies satisfy the requirements of FNMA and FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time during for the term Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 4.04, any amounts collected by the 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, in the case of a Cooperative Loan, the related Cooperative Unit), or property acquired in liquidation of the Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with applicable law and the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalfSection 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 Mortgage Loan, the related a 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 A:VI or better in Best’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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the lesser of (a) the replacement value of the improvements securing the Mortgage Loan and (b) the greater of (i) the then outstanding principal balance of the Mortgage Loan and (ii) 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 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 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 Mortgage LoanLoa n, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 Servicer shall force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in a condominium project, the 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 Mae requirements, and secure from the owner’s association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 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 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 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 Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A: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 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.04.

Maintenance of Hazard Insurance. The Servicer NYMT Servicing shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under Servicing Standards against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 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 Mortgage Loan, the Servicer NYMT Servicing determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 Servicer NYMT Servicing 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 Servicer NYMT Servicing shall immediately force place the required flood insurance on the Mortgagor’s behalf. NYMT Servicing shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 Servicing Standards. In the event that the Master Servicer or NYMT Servicing 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, NYMT Servicing 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 NYMT Servicing 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. NYMT Servicing shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that NYMT Servicing shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under Servicing Standards. NYMT Servicing 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. NYMT Servicing 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 4.02(d), any amounts collected by NYMT Servicing under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with NYMT Servicing’s normal servicing procedures) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.02(e). Notwithstanding anything set forth in the preceding paragraph, NYMT Servicing agrees to indemnify the Trustee, the Issuing Entity, the Certificateholders and the Master Servicer 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 NYMT Servicing) 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Fanxxx Xxe or Frexxxx Xxc against loss by fire, hazards of extended coverage on and such other hazards as are customary or required by law in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 In the event a hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to Fanxxx Xxe or Frexxxx Xxc, 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the Mortgage Loan, the related Mortgaged Property was is located in an area identified in by the Federal Register by the Flood 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 insurance carrier acceptable to Fanxxx Xxe or Frexxxx Xxc 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx Guides 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 Servicer Company 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 Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. Any out-of-pocket expenses or advance made by the Company 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 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 Fanxxx Xxe requirements, and secure from the owner’s association its agreement to notify the 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. In the event that any Purchaser or the 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 Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the required amount of coverage for the Mortgaged Property 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 Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Fanxxx Xxe xxd Frexxxx Xxc and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 Company shall furnish to the Mortgagor a formal notice of expiration, in accordance with the Accepted Servicing Practices, of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer acceptable under the Servicing Standard against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then maximum insurable value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 acceptable under the 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 Mortgage Loan, the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Servicer shall cause to be maintained on each Mortgaged Property such other or additional insurance 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 the Servicing Standard. In the event that the Master Servicer or the 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 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 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 Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are generally acceptable under the Servicing Standard. The 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 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 Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures as specified in Section 3.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.06. 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 Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) or by an insurer acceptable to Xxxxxx Mae, fire and hazard insurance Xxxxxxx Mac, GNMA or VA, as applicable, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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) the Company shall verify that 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 A:VI or better in Best’s or in accordance with then current Xxxxxx Mae, Xxxxxxx Mac or GNMA 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 Mae, Xxxxxxx Mac or GNMA requirements, as applicable, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s 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 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to the Agencies, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100 % of the then insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property, and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and or (iib) an amount such that the proceeds thereof of such insurance shall be sufficient to prevent the application to the Mortgagor or the loss payee from becoming of any coinsurance clause under the policy. In the event a co-insurer. It is understood and agreed that no earthquake hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to the Agencies, 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the 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 acceptable to the 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 Servicer Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) or by an insurer acceptable to Xxxxxx Xxx, fire and hazard insurance Xxxxxxx Mac, GNMA or VA, as applicable, against loss by fire, hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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) the Company shall verify that 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 A:VI or better in Best’s or in accordance with then current Xxxxxx Mae, Xxxxxxx Mac or GNMA 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 Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx Xxx 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 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 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 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 Mae, Xxxxxxx Mac or GNMA requirements, as applicable, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s 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 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, fire and Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Fannie Mae or Freddie Mac against loss by fire, hazards of extended coverage on covxxxxx and such xxxxx hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) 100% of the then insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) an amount such that the proceeds thereof of such insurance shall be sufficient to prevent the application to the Mortgagor or the loss payee from becoming of any coinsurance clause under the policy. In the event a co-insurer. It is understood and agreed that no earthquake hazard insurance policy shall be in danger of being terminated, or other additional insurance is required in the event the insurer shall cease to be maintained acceptable to Fannie Mae or Freddie Mac, the Company shall notify the Purchaser and txx xxxated Morxxxxxx, 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 Servicer in connection with any original policy. In no event, however, shall a Mortgage Loan or Mortgaged Propertybe without a hazard insurance policy at any time, other than pursuant subject only to applicable laws and regulations that require the Servicer to cause such additional insurance to be maintainedSection 4.11 hereof. If upon origination of the Mortgage Loan, the related Mortgaged Property was is located in an area identified in by 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 acceptable to Fannie Mae or Freddie Mac in an amount representing coverage equal to the lesser txx xxxser of (ix) the xxx 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 Mortgage Loan, the Servicer Company determines in accordance with the applicable law and pursuant to the Xxxxxx Xxx Guides Fannie Mae or Freddie Mac guide, that a the Mortgaged Property is located in a xx x special flood hazard xxxxx xazard 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 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 Servicer Company shall 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 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 Fannie Mae requirements, and secure from the owner's association its agxxxxxxt to notify the 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. In the event that the Purchaser or the 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 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 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 Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Fannie Mae and Freddie Mac and are licensed to do business in the jurisxxxxxxn xx whicx xxx Xortgaged Property is located. The 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. Pursuant to Section 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each Mortgage Loan, with Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurerinsurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the related area where the Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (iib) 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 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 A:VI or better in Best’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 Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Servicer Company determines in accordance with applicable law and pursuant to the Xxxxxx 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 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 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 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 Mae requirements, and secure from the owner’s association its agreement to notify the 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 Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance 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 any Purchaser or the 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 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 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 Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 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 4.04, any amounts collected by the 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 Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan, with a generally acceptable insurer, Loan fire and hazard insurance of with extended coverage on as is customary in the related area where the Mortgaged Property, Property is located in an amount which is at least equal to the greater lesser of (i) the then amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis or (ii) the outstanding principal balance of the Mortgage Loan and (ii) the principal balance of the related first lien Mortgage Loan, if applicable, 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. It is understood and agreed that no earthquake or other additional insurance is required to be maintained by If 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 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 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 Mortgage LoanREO Property, the Servicer determines in accordance fire and hazard insurance with applicable law and pursuant to the Xxxxxx Xxx 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, flood insurance in an amount as provided above. Pursuant to Section 11.04, any amounts collected by the Servicer Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Seller’s normal servicing procedures, shall notify be deposited in the Custodial Account, subject to withdrawal pursuant to Section 11.06. 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 Mortgagor 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 must obtain or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to such flood insurance coverageapplicable 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 if said Mortgagor fails to obtain the required flood insurance coverage within forty-five shall provide for at least thirty (4530) days after such notificationprior written notice of any cancellation, reduction in the Servicer amount of, or material change in, coverage to the Seller. The Seller shall force place the required flood insurance on not interfere with the Mortgagor’s behalffreedom 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 are acceptable under the Underwriting Guidelines and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Mortgage Impairment Insurance and Mortgage Guaranty Insurance Policy; Claims; Restoration of Mortgaged Property. (a) Each Servicer shall cause to be maintained for each related Mortgage Loan, with Loan hazard insurance such that all buildings upon the related Mortgaged Property are insured by a generally acceptable insurerinsurer rated either: “V” or better in the current Best’s Key Rating Guide (“Best’s”) or acceptable to FNMA or FHLMC against loss by fire, fire and hazard insurance hazards of extended coverage on and such other hazards as are customary in the area where the related Mortgaged PropertyProperty is located, in an amount which is at least equal to the greater lesser of (i) the then replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (A) the outstanding principal balance of the Mortgage Loan and (iiB) 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. 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 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 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 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 a Mortgage related to a Mortgage Loan is secured by a unit in a condominium project, the 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 the requirements of the Servicer for mortgage loans that it services on its own account. Each Servicer shall cause to be maintained on each Mortgaged Property related to a Mortgage Loan such other additional special hazard insurance as may be required pursuant to such applicable laws and regulations as shall at any time during be in force and as shall require such additional insurance, or pursuant to the term requirements of any Mortgage Guaranty Insurance Policy insurer, or as may be required to conform with Accepted Servicing Practices to the extent permitted by the Mortgage Note, the Mortgage or applicable law provided that the Servicer shall not be required to bear the cost of such insurance. All policies required hereunder shall name the related Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for prior written notice of any cancellation, reduction in amount or material change in coverage. Each Servicer shall not interfere with the Mortgagor’s freedom of choice at the origination of such Mortgage Loan in selecting either his insurance carrier or agent, provided, however, that such Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated: V or better in Best’s or acceptable to FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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. Pursuant to Section 3.05, any amounts collected by 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 Mortgage Loan, or to be released to the Servicer determines Mortgagor, in accordance with such Servicer’s normal servicing procedures) shall be deposited in the 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 Mortgage Loan, notwithstanding that the terms of the 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 Mortgage Loan or maintained on property acquired in respect of a Mortgage related to 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. (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 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 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 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 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 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 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 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 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 Xxxxxxxxx. With respect to each 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 Mortgage Loan. If amounts on deposit in the Xxxxxx Xxx Guides 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 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 Mortgage Loan covered by a Mortgage Guaranty Insurance Policy that is not a Mortgaged Property is located 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 Mortgage Loan in a special flood hazard area and is 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 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 Mortgage Loan, each Servicer need not covered by flood insurance obtain the approval of the Trustee or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify Trust Administrator prior to releasing any Insurance Proceeds to the related Mortgagor that to be applied to the Mortgagor must obtain restoration or repair of the related Mortgaged Property if such flood insurance coveragerelease 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 Mortgage Loan, if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notificationTrust Administrator is named as an additional loss payee, the related Servicer shall force place is hereby empowered to endorse any loss draft issued in respect of such a claim in the required flood insurance on name of the Mortgagor’s behalfTrustee or the Trust Administrator.