Common use of Maintenance of Hazard Insurance Clause in Contracts

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the 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, (ii) the Principal Balance of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. 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 Flood Disaster Protection Act of 1973, 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, (y) public liability insurance and, (z) 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where such that all buildings upon the Mortgaged Property is located are insured by an insurer that conforms with the Xxxxxx Xxx Guides and Xxxxxxx Mac Guides against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the Xxxxxx Xxx Guides or Xxxxxxx Mac Guides, in an amount which is at least equal to the lesser of least of: (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan; or (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer insurer; or (iii) the amount required under determined by applicable HUD/FHA regulationsfederal or state law. If the Mortgagor fails to provide Mortgage Loan hazard insurance coverage after thirty (30) days of Servicer’s written notification, the Servicer may force place such hazard insurance coverage on the Mortgagor’s behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed hazard insurance coverage shall be deemed a Servicing Advance. If upon origination of the Mortgage Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency (“FEMA”) as having special flood hazards (and such flood insurance has been made available, 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 an insurance carrier, carrier that meets the requirements of the Xxxxxx Xxx Guides and the Xxxxxxx Mac Guides in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loanmortgage if replacement cost coverage is not available for the type of building insured), and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, 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. Any amounts collected out-of-pocket expense or advance made by the Servicer under 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 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 current Xxxxxx Xxx requirements, and secure from the Owner’s association its agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event the Owner or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or may, at its discretion, communicate with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's ’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 currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide are acceptable under the Xxxxxx Mae Guides and Xxxxxxx Mac Guides and are licensed to do business in the state wherein 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, 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 conformance with Servicer’s standard practices; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies (whether forced placed or other insurance policies) are in place with the required coverage and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.04 of this Agreement, 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 of this Agreement) shall be deposited in the Collection Account subject to the policy is locatedwithdrawal pursuant to Section 3.05 of this Agreement.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary or required by law in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or (iii) Xxxxxxx Mac, the amount required under Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable HUD/FHA regulationslaw, 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 the related Mortgaged Property 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, 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 acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with applicable law and pursuant to the FEMA guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Company shall immediately force place the required flood insurance on the Mortgagor's behalf. Any amounts collected out-of-pocket expenses or advance made by the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained 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 property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor's behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Xxxxxx Xxx and Xxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Xxxxxx Xxx and Xxxxxxx Mac guidelines against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (a) 100% of the maximum insurable value of the improvements securing such Mortgage Loan and (b) the greater of (i) the amount necessary to fully compensate for any damage or loss to outstanding principal balance of the improvements which are a part of such property on a replacement cost basis, Mortgage Loan and (ii) an amount such that the Principal Balance proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in the current edition of Best's Key Rating Guide in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 thirty (30) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under Seller shall verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner's association its agreement to notify the Seller promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Seller 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 cause to be maintained by the Servicer on each Mortgaged Property such other or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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 Seller shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Seller shall, at its discretion, communicate with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. All such policies required hereunder shall name the Seller as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which shall provide for at least thirty days 30 days' prior written notice of any cancellation, reduction in the amount of or material change in coverage to the Servicercoverage. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of Bare rated A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 5.04, 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 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 5.15) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 5.05. Notwithstanding anything set forth in the policy is locatedpreceding paragraph, the Seller agrees to indemnify the Purchaser for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related to the failure of the Mortgagor (or the Seller) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to the improvements which are other than a part of such property on a replacement cost basis, (ii) the Principal Balance of the Mortgage Cooperative Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. 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 Flood Disaster Protection Act of 1973, 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 not less than the replacement cost original principal balance of such Mortgage Loan, except in cases approved by the Master Servicer in which such amount exceeds the value of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent required and available under the Flood Disaster Protection Act Mortgaged Property. The Master Servicer shall also require fire insurance with extended coverage in a comparable amount on property acquired upon foreclosure, or deed in lieu of 1973foreclosure, as amended, flood insurance in an amount as provided aboveof any Mortgage Loan (other than a Cooperative Loan). 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 REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, ) shall be deposited in into the Collection AccountCustodial Account for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.03 and Section 3.05. It is understood and agreed that no earthquake or other additional Any unreimbursed costs incurred in maintaining any insurance is required to described in this Section 3.07 shall be maintained recoverable as an advance by the Master Servicer or the Mortgagor applicable Servicer from the related Custodial Account for P&I, the Investment Account or maintained on property acquired the Certificate Account. Such insurance shall be with insurers approved by the Master Servicer and Xxxxxx Xxx or Xxxxxxx Mac. Other additional insurance may be required of a Mortgagor, in respect of the Mortgage Loan, other than addition to that required pursuant to such Applicable Regulations applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such Where any part of any improvement to the Mortgaged Property (other than a Mortgaged Property secured by a Cooperative Loan) is located in a federally designated special flood hazard area and in a community which participates in the National Flood Insurance Program at the time of origination of the related Mortgage Loan, the Master Servicer shall cause flood insurance to be provided. The hazard insurance coverage required by this Section 3.07 may be met with blanket policies providing protection equivalent to individual policies otherwise required. The Master Servicer shall be endorsed with standard mortgagee clauses with loss payable responsible for paying, or causing the applicable Servicer to the Servicer and shall provide for at least thirty days prior written notice of pay, any cancellation, reduction in the deductible amount of or material change in coverage to the Serviceron any such blanket policy. The Master Servicer agrees to present, or cause to be presented, on behalf of and for the benefit of the Trust, claims under the hazard insurance policy respecting any Mortgage Loan, and in this regard to take such reasonable actions as 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 be necessary to permit recovery under 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 state wherein the property subject to the policy is locatedpolicy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and First Lien Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer which satisfies the hazard insurer ratings requirements of each of the Rating Agencies, against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, First Lien Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in First Lien Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If upon origination of the First Lien Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 carriercarrier which satisfies the flood insurer ratings requirements of each of the Rating Agencies, in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersFirst Lien Loan, (x) fire 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 with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Servicer 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices, in any instance, only to the extent permitted by applicable laws or regulations and subject to the availability of such additional insurance in the marketplace. In the event that the 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 such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's ’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 currently reflect a general policy rating satisfy the insurer ratings requirements of B:VI or better in Best's Key each of the Rating Guide Agencies and are licensed to do business in the state wherein 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 ensure that appropriate insurance policies are in place in the required coverages. 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 First Lien Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 2.13) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy is locatedin an amount equal to the unpaid principal balance of such Second Lien Loan. Any amounts collected by the Servicer under any such policy relating to a Second Lien Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05. Such policy may contain a standard deductible clause. Upon request of the Owner, the Servicer shall cause to be delivered to the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Owner.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan or (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If the Mortgaged Property is in an area identified in the Federal Register required by the Flood Emergency Management Agency Disaster Protection Act of 1973, as having special flood hazards and flood insurance has been made availableamended, the Servicer will cause to each Mortgage Loan shall be maintained covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with a generally an insurance carrier acceptable insurance carrierto Xxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the Principal Balance outstanding 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 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 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 immediately force place the required flood insurance on the Mortgagor's behalf. The Servicer shall also maintain on the each REO Property for the benefit of the CertificateholdersProperty, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost maximum insurable value of the improvements which are a part of such property, (y) public liability insurance and, (z) 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 proceduresAccepted Servicing Practices, shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.02(e). It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the Xxxxxx Xxx Guides or such Applicable Regulations 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 (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 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 state wherein the property subject to the policy is locatedQualified Insurers.

Maintenance of Hazard Insurance. The Special Servicer shall cause to be maintained for each first lien Transferred Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Fxxxxx Mxx and Fxxxxxx Mac guidelines against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to replacement value of the improvements which are a part of securing such property on a replacement cost basis, Transferred Mortgage Loan and (ii) the Principal Balance greater of (x) the outstanding principal balance of the Transferred Mortgage Loan, in each case in Loan and (y) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If upon origination of the Transferred Mortgage Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:VI or better in the current edition of Best’s Key Rating Guide in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersTransferred Mortgage Loan, (x) fire the Special Servicer determines in accordance with applicable law and pursuant to the Fxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Special Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Special Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in an a condominium project, the Special Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Fxxxxx Mxx requirements, and secure from the owner’s association its agreement to notify the Special Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Special Servicer shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance only to the extent required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Master Servicer or the Special Servicer shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Special Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Special Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount as provided aboveor material change in coverage. Any The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Special Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Special Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Special Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Transferred Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with the Special Servicer's ’s normal servicing procedures, procedures as specified in Section 3.15) shall be deposited in the Collection Account, Custodial 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 Seller shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under Seller shall verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner's association its agreement to notify the Seller promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Seller 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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 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. All such policies required hereunder shall name the Seller as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of Bare rated A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 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 the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Xxx or Freddie Mac, against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (ia) 100% the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property and (b) the greater of (i) the outstanding principal balance of the Mortgage Loan or (ii) an amount such that the Principal Balance proceeds of such insurance shall be sufficient to prevent the application of the Mortgagor or the loss payee of any coinsurance under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Xxx or Freddie Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by Applicable Law, to obtain from another Qualified Insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 carriercarrier acceptable to Xxxxxx Xxx or Freddie Mac, in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer If a Mortgage is secured by a unit in a condominium project, the Company shall also maintain 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 Freddie 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 REO Property for the benefit value of the CertificateholdersMortgaged 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, (x) fire the Company shall communicate and hazard 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 extended coverage in an amount standard or union mortgagee clauses, without contribution, which is shall provide for at least equal 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 Freddie Mac and are licensed to do business in the replacement cost of jurisdiction in which the improvements which are a part of Mortgaged Property is located. The Company shall determine that such propertypolicies provide sufficient risk coverage and amounts, (y) public liability insurance andthat they insure the property owner, (z) and that they properly describe the property address. Pursuant to the extent required and available under the Flood Disaster Protection Act of 1973Section 4.4, as amended, flood insurance in an amount as provided above. Any any amounts collected by the Servicer Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with the Servicer's Company’s normal servicing procedures, procedures as specified in Section 4.4) shall be deposited in the Collection Account, Custodial 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located4.5.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary or required by law in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer If a Mortgage is secured by a unit in a condominium project, the Company shall also maintain 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 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, (y) public liability insurance and, (z) 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 value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of B:VI are acceptable to Xxxxxx Mae or better in Best's Key Rating Guide Xxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where such that all buildings upon the Mortgaged Property is located are insured by an insurer that conforms with the Fannie Mae Guides and Freddie Mac Guides against loss by fire, xxxxxxs xx extended coxxxxxx and such other hazards as are required to be insured pursuant to the Fannie Mae Guides or Freddie Mac Guides, in an amount which is at least equal xx xxxsx xqual to the lesser of xxxxx of: (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan; or (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer insurer; or (iii) the amount required under determined by applicable HUD/FHA regulationsfederal or state law. If the Mortgagor fails to provide Mortgage Loan hazard insurance coverage after thirty (30) days of Servicer's written notification, the Servicer may force place such hazard insurance coverage on the Mortgagor's behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed hazard insurance coverage shall be deemed a Servicing Advance. If upon origination of the Mortgage Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency ("FEMA") as having special flood hazards (and such flood insurance has been made available, 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 an insurance carrier, carrier that meets the requirements of the Fannie Mae Guides and the Freddie Mac Guides in an amount representing coverage not less than the least reprexxxxxxg xxverage equal to xxx xxxser of (i) the Principal Balance 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 Loanmortgage if replacement cost coverage is not available for the type of building insured), and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, 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. Any amounts collected out-of-pocket expense or advance made by the Servicer under 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 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 current Fannie Mae requirements, and secure from the Owner's associatiox xxx axxxement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event the Owner or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or may, at its discretion, communicate with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide are acceptable under the Fannie Mae Guides and Freddie Mac Guides and are licensed to do business in the state wherein 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, 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 conformance with Servicer's standard practices; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies (whether forced placed or other insurance policies) are in place with the required coverage and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.04 of this Agreement, 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 of this Agreement) shall be deposited in the Collection Account subject to the policy is locatedwithdrawal pursuant to Section 3.05 of this Agreement.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and hazard pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a special xxxxx xxxard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and secure from the owner's association itx xxxxement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.16) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basisbasis (less reasonable deductibles), (ii) the Principal Balance of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. 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 Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on the REO Property for the benefit of the CertificateholdersCertificateholders (in each case, with reasonable deductibles), (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, (y) public liability insurance and, (z) 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 3.052.05. 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is locatedQualified Insurers.

Maintenance of Hazard Insurance. The Interim Servicer shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best’s in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Interim Servicer determines in accordance with applicable law and pursuant to the FNMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Interim Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Interim Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in an a condominium project, the Interim Servicer shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Fxxxxx Mxx requirements, and secure from the owner’s association its agreement to notify the Interim Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. The Interim 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 Interim Servicer shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Interim Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Interim Servicer 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 as provided aboveor material change in coverage. Any The Interim Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Interim 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 Interim Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Interim Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 2.04, 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 related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with the Interim Servicer's ’s normal servicing procedures, procedures as specified in Section 2.15) shall be deposited in the Collection Account, Custodial 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where such that all buildings upon the Mortgaged Property is located are insured by an insurer that conforms with the Fannie Mae Guides and Freddie Mac Guides against loss by fire, haxxxxx ox xxtended covexxxx xxd such other hazards as are required to be insured pursuant to the Fannie Mae Guides or Freddie Mac Guides, in an amount which is at least equal xxxxx xxxal to the lesser of lxxxx xx: (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan; or (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer insurer; or (iii) the amount required under determined by applicable HUD/FHA regulationsfederal or state law. If the Mortgagor fails to provide Mortgage Loan hazard insurance coverage after thirty (30) days of Servicer's written notification, the Servicer may force place such hazard insurance coverage on the Mortgagor's behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed hazard insurance coverage shall be deemed a Servicing Advance. If upon origination of the Mortgage Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency ("FEMA") as having special flood hazards (and such flood insurance has been made available, 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 an insurance carrier, carrier that meets the requirements of the Fannie Mae Guides and the Freddie Mac Guides in an amount representing coverage not less than the least represexxxxx cxxxrage equal to thx xxxxxr of (i) the Principal Balance 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 Loanmortgage if replacement cost coverage is not available for the type of building insured), and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, 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. Any amounts collected out-of-pocket expense or advance made by the Servicer under 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 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 current Fannie Mae requirements, and secure from the Owner's association xxx xxrxxxent to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event the Owner or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or may, at its discretion, communicate with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide are acceptable under the Fannie Mae Guides and Freddie Mac Guides and are licensed to do business in the state wherein 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, 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 conformance with Servicer's standard practices; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies (whether forced placed or other insurance policies) are in place with the required coverage and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.04 of this Agreement, 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 of this Agreement) shall be deposited in the Collection Account subject to the policy is locatedwithdrawal pursuant to Section 3.05 of this Agreement.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value on a replacement cost basis, basis of the improvements securing such Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent the application to the Mortgagor and/or or the Mortgagee loss payee of any coinsurance clause under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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, ) the Servicer will Company shall cause the Mortgagor to be maintained maintain 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 acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines, in accordance with applicable law, that a Mortgaged Property is located in a special flood hazard area and hazard is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the require flood insurance coverage within forty-five (45) days after such notification, the Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in an 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 provided aboveloss 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. Any 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. Pursuant to Section 4.04, any amounts collected by the Servicer Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with the Servicer's Company’s normal servicing procedures, procedures as specified in Section 4.14) shall be deposited in the Collection Account, Custodial 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to Xxxxxx Xxx or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If the Mortgaged Property is in an area identified in the Federal Register required by the Flood Emergency Management Agency Disaster Protection Act of 1973, as having special flood hazards and flood insurance has been made availableamended, the Servicer will cause to each Mortgage Loan shall be maintained covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with a generally an insurance carrier acceptable insurance carrierto Xxxxxx Xxx or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the Principal Balance outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on the each REO Property for the benefit of the CertificateholdersProperty, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost maximum insurable value of the improvements which are a part of such property, (y) public liability insurance and, (z) 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 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 Servicer's normal servicing proceduresAccepted Servicing Practices, shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the Mortgagor Seller or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the Xxxxxx Xxx Guides or such Applicable Regulations 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 Seller and its successors and/or assigns 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 ServicerSeller. The Servicer Seller shall not interfere with the Mortgagor's ’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall 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 state wherein the property subject to the policy is locatedQualified Insurers.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where such that all buildings upon the Mortgaged Property is located are insured by an insurer that conforms with the Fxxxxx Mxx Guides and Fxxxxxx Mac Guides against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the Fxxxxx Mxx Guides or Fxxxxxx Mac Guides, in an amount which is at least equal to the lesser of least of: (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan; or (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer insurer; or (iii) the amount required under determined by applicable HUD/FHA regulationsfederal or state law. If the Mortgagor fails to provide Mortgage Loan hazard insurance coverage after thirty (30) days of Servicer’s written notification, the Servicer may force place such hazard insurance coverage on the Mortgagor’s behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed hazard insurance coverage shall be deemed a Servicing Advance. If upon origination of the Mortgage Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency (“FEMA”) as having special flood hazards (and such flood insurance has been made available, 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 an insurance carrier, carrier that meets the requirements of the Fxxxxx Mxx Guides and the Fxxxxxx Mac Guides in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loanmortgage if replacement cost coverage is not available for the type of building insured), and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, 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. Any amounts collected out-of-pocket expense or advance made by the Servicer under 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 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 current Fxxxxx Mxx requirements, and secure from the Owner’s association its agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event the Owner or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or may, at its discretion, communicate with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's ’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 currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide are acceptable under the Fxxxxx Mae Guides and Fxxxxxx Mac Guides and are licensed to do business in the state wherein 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, 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 conformance with Servicer’s standard practices; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies (whether forced placed or other insurance policies) are in place with the required coverage and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.04 of this Agreement, 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 of this Agreement) shall be deposited in the Collection Account subject to the policy is locatedwithdrawal pursuant to Section 3.05 of this Agreement.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary or required by law in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of of: (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value on a replacement cost basis, basis of the improvements on the related Mortgaged Property and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent the application to the Mortgagor and/or or the Mortgagee loss payee of any coinsurance clause under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Servicer shall notify the Owner and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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, ) the Servicer will shall cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with a generally acceptable insurance carrier, carrier acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least of lesser of: (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that the Owner or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or shall communicate and consult with the Mortgagor or maintained 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 Servicer shall immediately force place the required coverage on property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor's behalf. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the state wherein 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, 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 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 thirty (30) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under Seller shall verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner's association its agreement to notify the Seller promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Seller 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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 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. All such policies required hereunder shall name the Seller as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of Bare rated A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 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 the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (ia) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property, or (b) the greater of (i) the outstanding principal balance of the Mortgage Loan or (ii) the Principal Balance of the Mortgage Loan, in each case in an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent avoid the application to the Mortgagor and/or or loss payee of any coinsurance clause under the Mortgagee policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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, carrier acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with the applicable law and pursuant to the Xxxxxx Mae Guide, that the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that they must obtain such flood insurance coverage and if the Mortgagor fails to provide proof of such coverage within forty-five (45) days of such notice, the Company shall force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage LoanMortgaged Property and if the Mortgagor does not obtain such coverage, other than pursuant to such Applicable Regulations as the Company shall at any time be in immediately force and as shall require such additional insuranceplace the required coverage on the Mortgagor's behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire 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 with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.17) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where such that all buildings upon the Mortgaged Property is located are insured by an insurer that conforms with the Fannie Mae Guides and Freddie Mac Guides against loss by fire, hxxxxxx xx extended covxxxxx xnd such other hazards as are required to be insured pursuant to the Fannie Mae Guides or Freddie Mac Guides, in an amount which is at least equal ax xxxxt xxual to the lesser of xxxxx xf: (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan; or (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer insurer; or (iii) the amount required under determined by applicable HUD/FHA regulationsfederal or state law. If the Mortgagor fails to provide Mortgage Loan hazard insurance coverage after thirty (30) days of Servicer's written notification, the Servicer may force place such hazard insurance coverage on the Mortgagor's behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed hazard insurance coverage shall be deemed a Servicing Advance. If upon origination of the Mortgage Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency ("FEMA") as having special flood hazards (and such flood insurance has been made available, 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 an insurance carrier, carrier that meets the requirements of the Fannie Mae Guides and the Freddie Mac Guides in an amount representing coverage not less than the least represxxxxxx xxxerage equal to txx xxxxer of (i) the Principal Balance 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 Loanmortgage if replacement cost coverage is not available for the type of building insured), and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, 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. Any amounts collected out-of-pocket expense or advance made by the Servicer under 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 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 current Fannie Mae requirements, and secure from the Owner's association xxx xgxxxment to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event the Owner or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or may, at its discretion, communicate with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide are acceptable under the Fannie Mae Guides and Freddie Mac Guides and are licensed to do business in the state wherein 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, 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 conformance with Servicer's standard practices; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies (whether forced placed or other insurance policies) are in place with the required coverage and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.04 of this Agreement, 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 of this Agreement) shall be deposited in the Collection Account subject to the policy is locatedwithdrawal pursuant to Section 3.05 of this Agreement.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and hazard pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a special xxxxx hxxxrd area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and secure from the owner's association its xxxxxment to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.16) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and hazard pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a speciax xxxxd xxzard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and secure from the owner's association ixx xxxeement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.16) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (ia) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value, on a replacement cost 44 basis, of the improvements on the related Mortgaged Property, or (b) the greater of (i) the outstanding principal balance of the Mortgage Loan or (ii) the Principal Balance of the Mortgage Loan, in each case in an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent avoid the application to the Mortgagor and/or or loss payee of any coinsurance clause under the Mortgagee policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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, carrier acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with the applicable law and pursuant to the Xxxxxx Mae Guide, that the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that they must obtain such flood insurance coverage and if the Mortgagor fails to provide proof of such coverage within forty-five (45) days of such notice, the Company shall force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage LoanMortgaged Property and if the Mortgagor does not obtain such coverage, other than pursuant to such Applicable Regulations as the Company shall at any time be in immediately force and as shall require such additional insuranceplace the required coverage on the Mortgagor's behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to Xxxxxx Xxx or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If the Mortgaged Property is in an area identified in the Federal Register required by the Flood Emergency Management Agency Disaster Protection Act of 1973, as having special flood hazards and flood insurance has been made availableamended, the Servicer will cause to each Mortgage Loan shall be maintained covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with a generally an insurance carrier acceptable insurance carrierto Xxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the Principal Balance outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on the each REO Property for the benefit of the CertificateholdersProperty, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost maximum insurable value of the improvements which are a part of such property, (y) public liability insurance and, (z) 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 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 Servicer's normal servicing proceduresAccepted Servicing Practices, shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the Mortgagor Seller or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the Xxxxxx Xxx Guides or such Applicable Regulations 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 Seller and its successors and/or assigns 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 ServicerSeller. The Servicer Seller shall not interfere with the Mortgagor's ’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall 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 state wherein the property subject to the policy is locatedQualified Insurers.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and First Lien Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer which satisfies the hazard insurer ratings requirements of each of the Rating Agencies, against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, First Lien Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in First Lien Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If upon origination of the First Lien Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 carriercarrier which satisfies the flood insurer ratings requirements of each of the Rating Agencies, in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersFirst Lien Loan, (x) fire 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 with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Servicer 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices, in any instance, only to the extent permitted by applicable laws or regulations and subject to the availability of such additional insurance in the marketplace. In the event that the 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 such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's ’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 currently reflect a general policy rating satisfy the insurer ratings requirements of B:VI or better in Best's Key each of the Rating Guide Agencies and are licensed to do business in the state wherein 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 ensure that appropriate insurance policies are in place in the required coverages. 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 First Lien Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 2.13) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy is locatedin an amount equal to the unpaid principal balance of such Second Lien Loan. Any amounts collected by the Servicer under any such policy relating to a Second Lien Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05. Such policy may contain a standard deductible clause. Upon request of the Owner, the Servicer shall cause to be delivered to the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Owner.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 cxxxxxxe xxd suxx xxxxr hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (ia) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property, or (b) the greater of (i) the outstanding principal balance of the Mortgage Loan or (ii) the Principal Balance of the Mortgage Loan, in each case in an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent avoid the application to the Mortgagor and/or or loss payee of any coinsurance clause under the Mortgagee policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Fannie Mae or Freddie Mac, the Company shall notify the Purchaser and xxx xelated Mxxxxxxxr, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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, carrier acceptable to Fannie Mae or Freddie Mac in an amount representing coverage not less than the least equal to xxx xesser of (ix) xxe minimum amount required, under the Principal Balance terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the unpaid balance of the Mortgage Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with the applicable law and pursuant to the Fannie Mae Guide, that the Mortgaged Property is located in a special xxxxx hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that they must obtain such flood insurance coverage and if the Mortgagor fails to provide proof of such coverage within forty-five (45) days of such notice, the Company shall force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 xxxxxxexx to notify the Company promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage LoanMortgaged Property and if the Mortgagor does not obtain such coverage, other than pursuant to such Applicable Regulations as the Company shall at any time be in immediately force and as shall require such additional insuranceplace the required coverage on the Mortgagor's behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Fannie Mae and Freddie Mac and are licensed to do business in the state wherein jurxxxxxxion in whxxx xxx 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is Xxxxxxgxx Propxxxx xx located in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If the Mortgaged Property is in an area identified in the Federal Register required by the Flood Emergency Management Agency Disaster Protection Act of 1973, as having special flood hazards and flood insurance has been made availableamended, the Servicer will cause to each Mortgage Loan shall be maintained covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with a generally an insurance carrier acceptable insurance carrierto Fannie Mae or Freddie Mac, in an amount representing coverage not less xxx xxss than the least xxx xxxst of (i) the Principal Balance outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a spxxxxx 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 Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor's behalf. To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on the each REO Property for the benefit of the CertificateholdersProperty, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost maximum insurable value of the improvements which are a part of such property, (y) public liability insurance and, (z) 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 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 Servicer's normal servicing proceduresAccepted Servicing Practices, shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the Mortgagor Seller or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the Fannie Mae Guides or such Applicable Regulations applicable state or federal laws and xxxxxaxxxns 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 Seller and its successors and/or assigns 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 ServicerSeller. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall 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 state wherein the property subject to the policy is locatedQualified Insurers.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended 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 extxxxxx coverage xxx xxch other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value on a replacement cost basis, basis of the improvements securing such Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent the application to the Mortgagor and/or or the Mortgagee loss payee of any coinsurance clause under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Fannie Mae or Freddie Mac, the Company shall notify the Purchaxxx xxd the rexxxxx Xortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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, ) the Servicer will Company shall cause the Mortgagor to be maintained maintain 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 acceptable to Fannie Mae or Freddie Mac in an amount representing coverage not less than exxxx xo the least of lexxxx xx (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines, in accordance with applicable law, that a Mortgaged Property is located in a special flood hazard area and hazard is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the require flood insurance coverage within forty-five (45) days after such notification, the Company shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 associatixx xxx agreement to notify the Company promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained 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 property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor's behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Fannie Mae and Freddie Mac and are licensed to do business in xxx xxrxxxictiox xx xxich the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. (a) The Servicer shall cause to be maintained for each first lien Mortgage Loan serviced by it fire and hazard insurance with extended coverage as is customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to replacement value of the improvements which are a part of such property on a replacement cost basis, securing the Mortgage Loan or (ii) the Unpaid Principal Balance of the Mortgage Loan, Loan (so long as it equals 80% of the insurable value of the improvements); provided that in each any case in an amount not less than such amount as is necessary shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If the Mortgaged Property is in an area then 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 is then 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, if such insurance is available. Such flood insurance shall be in an amount representing coverage not less than the least of (i) the Principal Balance outstanding principal balance of the Mortgage Loan, (ii) the maximum full 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 and the Flood Disaster Protection Act of 1973, each 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 that is at least equal to the replacement cost maximum insurable value of the improvements which that are a part of such property, (y) public liability insurance and, and (z) to the extent required 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 other than amounts to shall be deposited paid over or applied by the Servicer in the Escrow Account and applied to accordance with Acceptable Servicing Procedures whether (i) for the restoration or repair of the Mortgaged Property or REO Property, or released subject to the related Mortgage, (ii) for release to the Mortgagor in accordance with Acceptable Servicing Procedures or (iii) for application in reduction of the Servicer's normal servicing proceduresMortgage Loan, in which event such amounts shall be deposited in the Collection Account, subject to withdrawal pursuant to as provided in Section 3.052.4(c). It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the of any Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to such Applicable Regulations applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer and shall provide for at least thirty 30 days prior written notice to the Servicer of any cancellation, reduction in the amount of amount, or material change in coverage to the Servicercoverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, agent upon any policy renewal; provided, however, that upon any such policy renewal, the Servicer shall not accept any such insurance policies only from insurance companies unless such companies currently reflect that have a general policy rating of B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein jurisdiction in which the property subject to the policy Mortgaged Property is located. 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 adverse effect on the value of the Mortgaged Property as security.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the Fannie Mae Guides that a Morxxxxxx Xxxperty is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and xxxxxe from the owner's association its agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.16) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by Applicable Law, to obtain from another Qualified Insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 carriercarrier acceptable to Xxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer If a Mortgage is secured by a unit in a condominium project, the Company shall also maintain 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 REO Property for the benefit value of the CertificateholdersMortgaged 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, (x) fire the Company shall communicate and hazard 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 extended coverage in an amount standard or union mortgagee clauses, without contribution, which is shall provide for at least equal 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 replacement cost of jurisdiction in which the improvements which are a part of Mortgaged Property is located. The Company shall determine that such propertypolicies provide sufficient risk coverage and amounts, (y) public liability insurance andthat they insure the property owner, (z) and that they properly describe the property address. Pursuant to the extent required and available under the Flood Disaster Protection Act of 1973Section 4.4, as amended, flood insurance in an amount as provided above. Any any amounts collected by the Servicer Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with the Servicer's Company’s normal servicing procedures, procedures as specified in Section 4.14) shall be deposited in the Collection Account, Custodial 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located4.5.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a specxxx xxoxx hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and secure from the owner's associatiox xxx agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.16) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the Fannie Mae Guides that a Morxxxxxx Xxxperty is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and xxxxxe from the owner's association its agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.17) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller 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 with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 Seller shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Seller 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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 Seller shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Seller shall, in accordance with Accepted Servicing Practices, provide notice of such to the Mortgagor. All such policies required hereunder shall name the Seller as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of Bare rated A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 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 the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and First Lien Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer which satisfies the hazard insurer ratings requirements of each of the Rating Agencies, against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, First Lien Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in First Lien Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If upon origination of the First Lien Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 carriercarrier which satisfies the flood insurer ratings requirements of each of the Rating Agencies, in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersFirst Lien Loan, (x) fire the Servicer determines in accordance with applicable law and hazard pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a speciax xxxxd xxzard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and secure from the owner's association ixx xxxeement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Servicer 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices, in any instance, only to the extent permitted by applicable laws or regulations and subject to the availability of such additional insurance in the marketplace. In the event that the 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 such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating satisfy the insurer ratings requirements of B:VI or better in Best's Key each of the Rating Guide Agencies and are licensed to do business in the state wherein 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 ensure that appropriate insurance policies are in place in the required coverages. 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 First Lien Loan, or to be released to the Mortgagor, in accordance with the Servicer's normal servicing procedures as specified in Section 2.13) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 2.05. With respect to each Second Lien Loan, the Servicer shall obtain and maintain the blanket hazard insurance policy is located.in an amount equal to the unpaid principal balance of such Second Lien Loan. Any amounts collected by the Servicer under any such policy relating to a Second Lien Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to 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 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, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 acceptable to FNMA or FHLMC in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with the applicable law and hazard insurance with extended coverage in an amount which is at least equal pursuant to the replacement cost FNMA guide, that the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance meeting the requirements of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that they must obtain such flood insurance coverage and if the Mortgagor fails to provide proof of such coverage within forty-five (45) days of such notice, the Company shall force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 requirements, and secure from the owner's association its agreement to notify the Company promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to FNMA and FHLMC and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best’s in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller determines in accordance with applicable law and pursuant to the FNMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in an a condominium project, 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 Xxx 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 as security. The Seller 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 Seller shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Seller shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the 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 as provided aboveor material change in coverage. Any 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 Servicer Seller under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with the Servicer's Seller’s normal servicing procedures, procedures as specified in Section 2.15) shall be deposited in the Collection Account, Custodial 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to Xxxxxx Xxx and Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If the Mortgaged Property is in an area identified in the Federal Register required by the Flood Emergency Management Agency Disaster Protection Act of 1973, as having special flood hazards and flood insurance has been made availableamended, the Servicer will cause to each Mortgage Loan shall be maintained covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with a generally an insurance carrier acceptable insurance carrierto Xxxxxx Mae and/or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the Principal Balance outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) 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 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 immediately force place the required flood insurance on the Mortgagor’s behalf. The Servicer shall also maintain on the each REO Property for the benefit of the CertificateholdersProperty, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost maximum insurable value of the improvements which are a part of such property, (y) public liability insurance and, (z) 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 proceduresAccepted Servicing Practices, shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the Xxxxxx Xxx Guides or such Applicable Regulations 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 of or material change in coverage to the Servicer. The Servicer shall not interfere with the Mortgagor's ’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 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 state wherein the property subject to the policy is locatedQualified Insurers.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of of: (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value on a replacement cost basis, basis of the improvements on the related Mortgaged Property and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent the application to the Mortgagor and/or or the Mortgagee loss payee of any coinsurance clause under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Servicer shall notify the Owner and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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 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 acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under any such policies other than amounts 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 use reasonable efforts to be deposited in verify that the Escrow Account coverage required of the owner's association, including hazard, flood, liability, and applied to fidelity coverage, is being maintained. In the restoration event that the Owner or repair of the Servicer shall determine that the Mortgaged Property should be insured against loss or REO Property, or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or shall communicate and consult with the Mortgagor or maintained 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 Servicer shall immediately force place the required coverage on property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor’s behalf. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however.. 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 also shall maintain on any REO Property, fire and hazard insurance with extended coverage in an amount 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 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 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 not accept be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Any cost incurred by the Servicer in maintaining any such insurance policies from insurance companies unless such companies currently reflect a general policy rating shall not, for the purpose of B:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein the property subject calculating distributions to the policy Owner, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is locatedunderstood 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.

Maintenance of Hazard Insurance. The Interim Servicer shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Interim Servicer determines in accordance with applicable law and pursuant to the FNMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Interim Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Interim Servicer shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Interim Servicer under 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 Interim Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Interim Servicer 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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 Interim Servicer shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Interim Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. All such policies required hereunder shall name the Interim Servicer as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Interim Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Interim Servicer shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of Bare rated A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein jurisdiction in which the Mortgaged Property is located. The Interim Servicer shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Interim Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Pursuant to Section 2.04, 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 related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Interim Servicer's normal servicing procedures as specified in Section 2.15) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan maintained, subject to the provisions of Section 5.08, fire and hazard insurance with extended coverage as is customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser least of (ia) the outstanding principal balance owing on the Mortgage Loan, and the First Lien, with respect to Sub-Pool 1, (b) the full insurable value of the premises securing the Mortgage Loan and (c) the minimum amount necessary required to fully compensate for any damage or loss to the improvements which are a part of such property on a replacement cost basis, (ii) . If at the Principal Balance origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent Loan or at any time during the Mortgagor and/or term of the Mortgagee from becoming a co-insurer or (iii) Mortgage Loan the amount required under applicable HUD/FHA regulations. If Servicer determines that the Mortgaged Property is located in an area identified in the Federal Register on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued by the Flood Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained purchased 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 lesser of (i) the Principal Balance outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iiiii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 19731973 or the National Flood Insurance Reform Act of 1994, as amended. The Servicer shall also maintain maintain, to the extent such insurance is available, on the REO Property for the benefit of the CertificateholdersProperty, (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 propertyamounts described above, (y) public liability insurance and, (z) to the extent required and available under the National Flood Disaster Protection Insurance Act of 19731968, as amended, and the Servicer determines that such insurance is necessary in accordance with accepted first and second mortgage servicing practices of prudent lending institutions with respect to Sub-Pool 1, and in accordance with accepted first mortgage servicing practices of prudent lending institutions with respect to Sub-Pool 2, flood insurance in an amount as provided equal to that required 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 to be released to the Mortgagor in accordance with the Servicer's normal customary first and second mortgage servicing proceduresprocedures with respect to Sub-Pool 1, and with customary first mortgage servicing procedures with respect to Sub-Pool 2) shall be deposited in the Collection AccountPrincipal and Interest Account with respect to the related Sub-Pool, subject to retention by the Servicer to the extent such amounts constitute Servicing Compensation or to withdrawal pursuant to Section 3.055.04 above. It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the of any Mortgagor or maintained on property acquired in respect of the Mortgage LoanREO Property, other than pursuant to such Applicable Regulations applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss losses payable to the Servicer 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 Any out-of-pocket expenses incurred by the Servicer shall not accept pursuant to this Section 5.07, including without limitation any such advances of premiums on 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 state wherein the property subject to the policy is locatedrequired by this Section 5.07, shall constitute Servicing Advances.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property, and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds of such insurance shall be sufficient to prevent the application to the Mortgagor or the loss payee of any coinsurance clause under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to 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 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, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 acceptable to Fxxxxx Mae or Fxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with applicable law that a Mortgaged Property is located in a special flood hazard area and hazard is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 Company shall immediately force place the required flood insurance on the Mortgagor’s behalf, as permitted by applicable law. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained 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 property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor’. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Fxxxxx Mxx and Fxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Mae or Xxxxxxx Mac against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value on a replacement cost basis, basis of the improvements securing such Mortgage Loan and (ii) maximum coverage allowable under the Principal Balance Flood Disaster Protection Act of 1973. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, ) the Servicer will 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 acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with the applicable law and pursuant to the Xxxxxx Mae Guide, that the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that they must obtain such flood insurance coverage and if the Mortgagor fails to provide proof of such coverage within forty-five (45) days of such notice, the Company shall force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained 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 property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor's behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to Fxxxxx Mxx or Fxxxxxx Mac and customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the amount necessary to fully compensate for any damage or loss to outstanding principal balance owing on the improvements which are a part of such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance of the Mortgage Loan, in each case in an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent avoid the application to the Mortgagor and/or or loss payee of any coinsurance clause under the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationspolicy. If the Mortgaged Property is 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 ) Seller will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines guide-lines of the Federal Insurance Administration with a generally acceptable insurance carrierQualified Insurer, in an amount representing coverage not less than the least of (ia) the Principal Balance out-standing principal balance of the Mortgage Loan, (iib) the maximum full insurable value of the improvements securing such Mortgage Loan Mortgaged Property, or (iiic) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer Seller shall also maintain on the REO Property for the benefit property acquired upon foreclos-ure, or by deed in lieu of the Certificateholdersfore-closure, (x) of any Mortgage Loan, fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost maximum insurable value of the improvements which are a part of such property, (y) public liability insurance insur-ance and, (z) to the extent required and available under the Flood Disaster Protection Act of 1973, each as amended, flood insurance in an amount as provided required above. Any amounts collected by the Servicer Seller under any such policies (other than amounts to be deposited depos-ited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Propertyproperty acquired in liquida-tion of the Mortgage Loan, or to be released to the Mortgagor in accordance with the Servicer's normal servicing procedures, Customary Servicing Procedures) shall be deposited depos-ited in the Collection Custodial Account, subject to withdrawal with-drawal pursuant to Section 3.0510.10. It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the Seller of any Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to such Applicable Regulations appli-cable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer Seller and its successors and/or assigns, 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 ServicerSeller. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall 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 state wherein the property subject to the policy is locatedQualified Insurers.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller 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 with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 Seller shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Seller 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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 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. All such policies required hereunder shall name the Seller as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of Bare rated A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 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 the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The With respect to First Lien Mortgage Loans, the Servicer shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer conforming to the requirements of Xxxxxx Xxx and Xxxxxxx Mac against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, First Lien Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the First Lien Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 conforming to the requirements of Xxxxxx Mae and Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FNMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within sixty (60) days after such notification, the Servicer under shall immediately initiate the process of force placing the required flood insurance on the Mortgagor’s behalf. With respect to First Lien Mortgage Loans, 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, and secure from the owner’s association its agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Servicer 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's ’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 currently reflect a general policy rating conform to the requirements of B:VI or better in Best's Key Rating Guide Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the state wherein 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 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. Notwithstanding anything set forth in the policy is locatedpreceding paragraph, the Servicer agrees to indemnify the Purchaser for any claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage 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 extenxxx xxvxxxge axx xxxx other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value on a replacement cost basis, basis of the improvements securing such Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent the application to the Mortgagor and/or or the Mortgagee loss payee of any coinsurance clause under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Fannie Mae or Freddie Mac, the Company shall notify the Purchasex xxx the relaxxx Xxxtgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another qualified insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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, ) the Servicer will Company shall cause the Mortgagor to be maintained maintain 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 acceptable to Fannie Mae or Freddie Mac in an amount representing coverage not less than equxx xx the least of lessxx xx (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines, in accordance with applicable law, that a Mortgaged Property is located in a special flood hazard area and hazard is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the require flood insurance coverage within forty-five (45) days after such notification, the Company shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 xxx xgreement to notify the Company promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained 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 property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor's behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Fannie Mae and Freddie Mac and are licensed to do business in thx xxxxsxxxtion xx xxxxh the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best’s in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller determines in accordance with applicable law and pursuant to the FNMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in an a condominium project, 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 Fxxxxx Mxx 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 as security. The Seller 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 Seller shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Seller shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the 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 as provided aboveor material change in coverage. Any 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 Servicer Seller under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with the Servicer's Seller’s normal servicing procedures, procedures as specified in Section 2.15) shall be deposited in the Collection Account, Custodial 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 respect of the Mortgage Loan, other than pursuant to such Applicable 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 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 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 state wherein the property subject to the policy is located2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage as is customary in the area where such that all buildings upon the Mortgaged Property is located are insured by an insurer that conforms with the Fannie Mae Guides and Freddie Mac Guides against loss by fire, hazxxxx xf xxtended coverxxx xxx such other hazards as are required to be insured pursuant to the Fannie Mae Guides or Freddie Mac Guides, in an amount which is at least equal xxxxx exxxl to the lesser of lexxx xx: (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan; or (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer insurer; or (iii) the amount required under determined by applicable HUD/FHA regulationsfederal or state law. If the Mortgagor fails to provide Mortgage Loan hazard insurance coverage after thirty (30) days of Servicer's written notification, the Servicer may force place such hazard insurance coverage on the Mortgagor's behalf. Any out-of-pocket expense or advance made by the Servicer on such force placed hazard insurance coverage shall be deemed a Servicing Advance. If upon origination of the Mortgage Loan, the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Federal Emergency Management Agency ("FEMA") as having special flood hazards (and such flood insurance has been made available, 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 an insurance carrier, carrier that meets the requirements of the Fannie Mae Guides and the Freddie Mac Guides in an amount representing coverage not less than represenxxxx xoxxxage equal to the least xxxxxx of (i) the Principal Balance 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 Loanmortgage if replacement cost coverage is not available for the type of building insured), and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, 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. Any amounts collected out-of-pocket expense or advance made by the Servicer under 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 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 current Fannie Mae requirements, and secure from the Owner's association ixx xxxexxxnt to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event the Owner or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or may, at its discretion, communicate with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of B:VI or better in Best's Key Rating Guide are acceptable under the Fannie Mae Guides and Freddie Mac Guides and are licensed to do business in the state wherein 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, 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 conformance with Servicer's standard practices; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies (whether forced placed or other insurance policies) are in place with the required coverage and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 3.04 of this Agreement, 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 of this Agreement) shall be deposited in the Collection Account subject to the policy is locatedwithdrawal pursuant to Section 3.05 of this Agreement.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to the improvements which are a part of such property insurable value, on a replacement cost basis, of the improvements on the related Mortgaged Property, or (ii) the Principal Balance greater of (x) the outstanding principal balance of the Mortgage Loan, in each case in Loan or (y) an amount not less than such amount as is necessary that the proceeds of such insurance shall be sufficient to prevent the application to the Mortgagor and/or or the Mortgagee loss payee of any coinsurance clause under the policy. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from becoming another Qualified Insurer a co-insurer or (iii) replacement hazard insurance policy substantially and materially similar in all respects to the amount required under applicable HUD/FHA regulationsoriginal 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 the related Mortgaged Property 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 Company 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 acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines, in accordance with applicable law, that a Mortgaged Property is located in a special flood hazard area and hazard is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the require flood insurance coverage within forty-five (45) days after such notification, the Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained 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 property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgagor’s behalf. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each first lien Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated A:VI or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Seller determines in accordance with applicable law and pursuant to the Fxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the 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 Seller shall immediately force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 Fxxxxx Mxx requirements, and secure from the owner's association its agreement to notify the Seller promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. The Seller 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 cause to be maintained by the Servicer on each Mortgaged Property earthquake or the Mortgagor such other or maintained on property acquired in respect of the Mortgage Loan, other than additional insurance as may be required pursuant to such Applicable Regulations 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 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. All such policies required hereunder shall name the Seller as loss payee and shall be endorsed with standard or New York mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Seller shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Seller shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of Bare rated A:VI or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 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 the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated B:III or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) 100% of the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 rated B:III or better in Best's in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a spexxxx xlxxx hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under 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 in an amount as provided above. Any amounts collected by coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer under 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 Fannie Mae requirements, and secure from the owner's associatixx xxx agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released as security. The Servicer shall cause to the Mortgagor in accordance with the Servicer's normal servicing procedures, shall be deposited in the Collection Account, subject to withdrawal maintained on each Mortgaged Property any additional insurance as may be required pursuant to Section 3.05applicable laws. It is understood 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 agreed that no earthquake or other additional risks not covered by the insurance is required to be maintained by the Servicer or Mortgagor pursuant to the Mortgagor or maintained on property acquired in respect terms of the Mortgage LoanMortgage, other than pursuant the Servicer shall, in accordance with Accepted Servicing Practices, provide notice of such to such Applicable Regulations as shall at any time be in force and as shall require such additional insurancethe Mortgagor. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. 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 currently reflect a general policy rating of are rated B:VI III or better in Best's Key Rating Guide and are licensed to do business in the state wherein 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 3.16) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 3.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with extended coverage 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 extendex xxxxrxxx and xxxx xther hazards as is are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Fannie Mae or Freddie Mac, the Company shall notify the Purchaser xxx xxe relatex Xxxxxagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If upon origination of the Mortgage Loan, in each case in an amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. If the related Mortgaged Property is was located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available, the Servicer 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 acceptable to Fannie Mae or Freddie Mac in an amount representing coverage not less than the least of equal xx xxe lesser xx (ix) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Company determines in accordance with the applicable law and hazard insurance with extended coverage in an amount which is at least equal pursuant to the replacement cost Fannie Mae Guide, that the Mortgaged Property is located in a specxxx xxood hazard area and is not covered by flood insurance meeting the requirements of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that they must obtain such flood insurance coverage and if the Mortgagor fails to provide proof of such coverage within forty-five (45) days of such notice, the Company shall force place the required flood insurance on the Mortgagor's behalf. If a Mortgage is secured by a unit in an amount as provided above. Any amounts collected by a condominium project, the Servicer under 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 ixx xxxexxxnt to notify the Company promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that any Purchaser or REO Property, the Company shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer Company shall 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 are acceptable to Fannie Mae and Freddie Mac and are licensed to do business in the state wherein xxxxxxiction in xxxxx 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary or required by law in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of securing such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in Loan and (b) an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or (iii) Xxxxxxx Mac, the amount required under Servicer shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable HUD/FHA regulationslaw, 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 the related Mortgaged Property 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 as in effect with a generally acceptable insurance carrier, carrier acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, 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. Any amounts collected out-of-pocket expenses or advance made by the Servicer under 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 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 or Xxxxxxx Mac requirements, and secure from the owner's association its agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Servicer's normal servicing procedures, as security. All policies required hereunder 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 name the Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force loss payee and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his an insurance carrier or agent, ; provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of B:VI are acceptable to Xxxxxx Mae or better in Best's Key Rating Guide Xxxxxxx Mac and are licensed to do business in the state wherein 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 the policy is locatedwithdrawal pursuant to Section 4.05.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained (with an insurance company acceptable to Fxxxxx Mxx or Fxxxxxx Mac) for each first lien Mortgage Loan Loan, fire and hazard insurance with extended coverage as is customary in the area where the Mortgaged Property is located located, in an amount which is is, subject to applicable law, at least equal to the lesser of (i) the amount necessary to fully compensate for any damage or loss to maximum insurable value of the improvements which are a part of such property on a replacement cost basis, securing the related Mortgage Loan and (ii) the Principal Balance greater of (a) the outstanding principal balance of the Mortgage Loan, in each case in an Loan and (b) the minimum amount not less than such amount as is necessary to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulationsinsurer. If the Mortgaged Property is 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 Company will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines guide-lines of the Federal Insurance Administration with a generally gener-ally acceptable insurance carrier, in an amount representing coverage not less than the least of (i) the Principal Balance out-standing principal balance of the Mortgage Loan, (ii) the maximum full insurable value of the improvements securing such Mortgage Loan Mortgaged Property, or (iii) 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. The Servicer Company shall also maintain on the any REO Property for the benefit of the CertificateholdersProperty, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the replacement cost maximum insurable value of the improvements which are a part of such property, (y) public liability insurance insur-ance and, (z) to the extent required 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 required above. Any amounts collected by the Servicer Company under any such policies (other than amounts to be deposited depos-ited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or Property, REO Property, or released to the Mortgagor in accordance with Customary Servicing Procedures or in accordance with the Servicer's normal servicing procedures, terms of the Mortgage Loan or applicable law) shall be deposited depos-ited in the Collection Custodial Account, subject to withdrawal with-drawal pursuant to Section 3.054.05. It is understood and agreed that no earthquake or other additional insurance is need be required to be maintained by the Servicer or the Company of any Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to such Applicable Regulations appli-cable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer Company, its successors and its assigns, or, upon request of the Owner, to the Owner, and shall provide for at least thirty 30 days prior written notice to the Company of any cancellation, reduction in the amount of or material change in coverage to the Servicercancellation thereof. 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 Company shall not accept or obtain any such insurance policies insur-ance policy from insurance companies unless such companies currently reflect an insur-ance company that does not at that time maintain a general policy rating General Policy Rating of B:VI -III or better in Best's Key Rating Guide and are Guide, or that is not licensed to do business in the state State wherein the property subject to the policy related Mortgaged Property is located.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each first lien Mortgage Loan fire and hazard insurance with 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 and such other hazards as is are customary or required by law in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (a) 100% of the maximum insurable value of the improvements securing such Mortgage Loan and (b) the greater of (i) the amount necessary to fully compensate for any damage or loss to outstanding principal balance of the improvements which are a part of such property on a replacement cost basis, Mortgage Loan and (ii) the Principal Balance of the Mortgage Loan, in each case in an amount not less than such amount as is necessary that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or (iii) Xxxxxxx Mac, the amount required under Servicer shall notify the Trustee and the related Mortgagor, and shall use its best efforts, as permitted by applicable HUD/FHA regulationslaw, 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 4.12 hereof. If the related Mortgaged Property 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, carrier acceptable to Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (ia) the Principal Balance 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 Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iiib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. The Servicer shall also maintain on If at any time during the REO Property for the benefit term of the CertificateholdersMortgage Loan, (x) fire the Servicer determines in accordance with applicable law and pursuant to the FEMA Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance with extended coverage or is covered in an amount which is at least equal to less than the replacement cost of the improvements which are a part of such property, (y) public liability insurance and, (z) to the extent amount required and available under by the Flood Disaster Protection Act of 1973, as amended, the Servicer shall notify the related Mortgagor to obtain such flood insurance in an amount as provided abovecoverage, and if said Mortgagor fails to obtain the required flood insurance coverage within 45 days after such notification, the Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. Any amounts collected out-of-pocket expenses or advance made by the Servicer under 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 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 or Xxxxxxx Mac requirements, and secure from the owner’s association its agreement to notify the Servicer promptly of any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. In the event that the Trustee or REO Property, the Servicer shall determine that the Mortgaged Property should be insured against loss or released to damage by hazards and risks not covered by 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 Mortgagor pursuant to the terms of the Mortgage, the Servicer or shall communicate and consult with the Mortgagor or maintained on property acquired in with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgage Loan, other than pursuant to such Applicable Regulations as shall at any time be in force and as shall require such additional insuranceMortgaged Property. All such policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Servicer and clauses, without contribution, which 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 Servicercoverage. The Servicer shall not interfere with the Mortgagor's ’s freedom of choice in selecting either his an insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies currently reflect a general policy rating of B:VI are acceptable to Xxxxxx Mae or better in Best's Key Rating Guide Xxxxxxx Mac and are licensed to do business in the state wherein 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 4.4, 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 4.15) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 4.6.