Common use of Maintenance of Hazard Insurance Clause in Contracts

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12. Any the improvements that are part of such blanket policy may contain a deductible clause; provided that if any Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyunder the Flood Disaster Protection Act of 1973, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyas amended.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each BANA Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the BANA Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO PropertyProperty serviced by it, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the BANA Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer BANA Custodial Account, subject to withdrawal pursuant to Section 3.11(a)2.10. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each BANA Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such BANA Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the BANA Mortgage Loans in lieu of maintaining the required hazard insurance policies for each BANA Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related BANA Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.122.11. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 2.11 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer BANA Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 2.11 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Any such blanket If the hazard policy may contain contains a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Master Servicer shall will be required to deposit in from its own funds into the Servicer Custodial Certificate Account the difference, if any, between the amount amounts that would have been payable under a separate policy complying with this Section 3.12 and deposited therein but for the amount paid under such blanket policydeductible clause.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan (other than a Co-op Loan), fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full insurable replacement value of the improvements that are part of such Mortgaged Property or and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained accompanying endorsement that contains, a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCstandard mortgagee clause. The Servicer shall also maintain cause flood insurance to be maintained on REO Property, fire and hazard insurance with extended coverage property acquired upon foreclosure or deed in an amount which is at least equal to the maximum insurable value lieu of the improvements which are a part foreclosure of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Servicer's normal servicing procedures) shall be deposited in the Collection Account. Any cost incurred by the Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the original principal balance of the related development in a manner which is consistent with FNMA requirementsMortgage Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.10, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.10, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, deposit in the Collection Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, the Servicer shall deposit in agrees to present, on behalf of itself, the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12. Any the improvements that are part of such blanket policy may contain a deductible clause; provided that if any Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyunder the Flood Disaster Protection Act of 1973, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyas amended.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyPrxxxxxx, fire and hazard xxre axx xxxxrd insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer xxx Xxrvicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full insurable replacement value of the improvements that are part of such Mortgaged Property or and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained accompanying endorsement that contains, a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCstandard mortgagee clause. The Servicer shall also maintain cause flood insurance to be maintained on REO Property, fire and hazard insurance with extended coverage property acquired upon foreclosure or deed in an amount which is at least equal to the maximum insurable value lieu of the improvements which are a part foreclosure of such property, liability insurance andany Mortgage Loan, to the extent requiredrequired under the standards described below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Servicer's normal servicing procedures) shall be deposited in the Collection Account. Any cost incurred by the Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the original principal balance of the related development in a manner which is consistent with FNMA requirementsMortgage Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.10, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.10, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, deposit in the Collection Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, the Servicer shall deposit in agrees to present, on behalf of itself, the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage WMB Loan (other than a Cooperative Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to not less than the maximum insurable original principal balance of such WMB Loan, except in cases approved by the Servicer in which such amount exceeds the value of the improvements which are a part of such property, liability insurance and, to the extent requiredMortgaged Property. The Servicer shall also require hazard insurance with extended coverage in a comparable amount on property acquired upon foreclosure, flood insurance or deed in an amount required abovelieu of foreclosure, of any WMB Loan (other than a Cooperative Loan). Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing ProceduresMortgaged Property) shall be deposited in into the Servicer Custodial AccountAccount for P&I, subject to withdrawal pursuant to Section 3.11(a)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 need described in this Section 3.07 shall be required recoverable as an advance by the Servicer pursuant to Section 3.05(a). Such insurance shall be with insurers approved by the Servicer or Xxxxxx Xxx or Freddie Mac. Other additional insurance may be required of any a Mortgagor or maintained on REO Property, other than related to a WMB Loan pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable Where any part of any improvement to the ServicerMortgaged Property related to a WMB Loan (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 WMB Loan, and the Servicer shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage cause flood insurance to the Servicerbe 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 Servicer agrees to present, or cause to be presented, on behalf of and for each Mortgage Loan secured by a unit the benefit of the Trust, claims under the hazard insurance policy respecting any WMB Loan, and in a condominium development or planned unit development this regard to take such reasonable actions as shall be maintained with respect necessary to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid permit recovery under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the original principal balance of the related development in a manner which is consistent with FNMA requirementsMortgage Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Master Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.10, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Master Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.10, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Certificate Account the difference, if any, between the amount that would have been not otherwise payable under a separate the blanket policy complying because of such deductible clause. In connection with this Section 3.12 its activities as administrator and servicer of the Mortgage Loans, the Master Servicer agrees to present, on behalf of itself, the Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Any payments by the Servicer shall cause to be maintained for each Mortgage Loanhazard insurance, fire and hazard insurance with extended coverage customary other than as set forth in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser last paragraph of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance this Section 3.17, shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is deemed Servicing Advances, reimbursable in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance accordance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andSection 3.04(ix), to the extent required, flood insurance not collected from the related Mortgagor. The Servicer will comply in an amount required abovethe performance of this Agreement with all reasonable rules and requirements of each insurer under any such hazard policies. Any amounts to be collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or amounts to be released to the Mortgagor in accordance with Customary Servicing Proceduressubject to the terms and conditions of the related Mortgage and Mortgage Note) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)3.04, if received in respect of a Mortgage Loan. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to Certificateholders, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder If the Mortgaged Property or REO Property is at any time in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards and flood insurance has been made available, the Servicer will cause to be maintained a flood insurance policy in respect thereof. Such flood insurance shall be endorsed with standard mortgagee clauses with loss payable in an amount equal to the Servicer, and shall provide for at least 30 days prior written notice lesser of any cancellation, reduction in amount or material change in coverage to (i) the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such unpaid principal balance of the related Mortgage Loan and (ii) the maximum amount of such insurance available for the related development Mortgaged Property under the national flood insurance program (assuming that the area in a manner which such Mortgaged Property is consistent with FNMA requirementslocated is participating in such program). Notwithstanding In the foregoing, event that the Servicer may shall obtain and maintain a blanket policy with an insurer having a General Policy Rating of B:III or better in Best’s Key Rating Guide (or such other rating that is comparable to such rating) insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first two sentences of this Section 3.12. Any 3.17, it being understood and agreed that such blanket policy may contain a deductible clause; provided , in which case the Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by or REO Property a separate policy otherwise complying with the first two sentences of this Section 3.12 3.17, and a loss occurs with respect to such Mortgaged Property there shall have been one or more losses which loss would have been covered by such a policy, deposit to the Custodial Account from its own funds without right of reimbursement the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as administrator and servicer of the Mortgage Loans, the Servicer shall deposit in agrees to prepare and present, on behalf of itself, the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 Trustee and the amount paid Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Hazard Insurance. The Each Servicer shall cause to be maintained for each Mortgage LoanLoan it services, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer servicing the related Mortgage Loan will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Each Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the a Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with the terms of the Mortgage Loan, applicable law, or applicable Customary Servicing Procedures) shall be deposited in the related Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the a Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the related Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the such Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the each Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the related Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the related Servicer shall deposit in the related Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyPrxxxxxx, fire and hazard xxre axx xxxxrd insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer xxx Xxrvicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, comply with the customary servicing procedures concerning the issuance and maintenance of fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is located. If at least equal origination of a Business Loan, to the lesser of (a) the full insurable value best of the Mortgaged Property or (b) Servicer's knowledge after reasonable investigation, the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the related Mortgaged Property is in an area identified in the Federal Register by the Federal Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) ), the Servicer will cause require the related Obligor to be maintained purchase a flood insurance policy meeting with a generally acceptable insurance carrier, in an amount representing coverage not less than the requirements least of (i) the full insurable value of the current guidelines Mortgaged Property, or (ii) the maximum amount of insurance available under the Federal National Flood Insurance Administration and the requirements Act of FNMA or FHLMC1968, as amended. The Servicer shall also maintain maintain, to the extent such insurance is available, and in accordance with the Servicer's policies, on REO PropertyForeclosed Property constituting real property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, amounts described above and liability insurance and, to the extent required, flood insurance in an amount required aboveinsurance. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage LoanMortgaged Property, or to be released to the Mortgagor Obligor in accordance with Customary Servicing Proceduresapplicable law) shall be deposited in the Servicer Custodial Principal and Interest Account, subject to withdrawal pursuant to Section 3.11(a)4.04. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor Obligor or maintained on REO Foreclosed Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss losses payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount Servicer or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyits affiliates.

Maintenance of Hazard Insurance. The EMC Master Servicer shall cause to be maintained maintained, for each EMC Mortgage Loan, fire and hazard insurance with on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If state where the Mortgaged Property is in located. Each such policy of standard hazard insurance shall contain, or have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such accompanying endorsement that contains, a standard mortgagee clause. The EMC Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany EMC Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 1.05 of this Exhibit K, flood insurance in an amount required above. Any any amounts collected by the EMC Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe EMC Master Servicer's normal servicing procedures) shall be deposited in the Protected Account. Any cost incurred by the EMC Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the EMC Mortgage Loan, notwithstanding that the terms of the EMC Mortgage Loan so permit. Such costs shall be recoverable by the EMC Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a). 1.08 of this Exhibit K. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each EMC Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the EMC Master Servicer shall cause flood insurance to be maintained with respect to such EMC Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the least of (i) the Stated Principal Balance of the related development in EMC Mortgage Loan, (ii) minimum amount required to compensate for damage or loss on a manner which is consistent with FNMA requirementsreplacement cost basis or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the EMC Master Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating EMC Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 1.10, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the EMC Master Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 1.10, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Protected Account the difference, if any, between the amount that would have been not otherwise payable under the blanket policy because of such deductible clause. Such deposit shall constitute a separate policy complying Servicing Advance. In connection with this Section 3.12 its activities as administrator and servicer of the EMC Mortgage Loans, the EMC Master Servicer agrees to present, on behalf of itself, the Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, comply with the SBA Rules and Regulations concerning the issuance and maintenance of fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in located. If at origination of an amount which is at least equal SBA Loan, to the lesser of (a) the full insurable value best of the Mortgaged Property or (b) Servicer's knowledge after reasonable investigation, the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the related Mortgaged Property is in an area identified in the Federal Register by the Federal Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) consistent with the SBA Rules and Regulations, the Servicer will cause require the related Obligor to be maintained purchase a flood insurance policy meeting with a generally acceptable insurance carrier, in an amount representing coverage not less than the requirements least of (i) the full insurable value of the current guidelines Mortgaged Property, or (ii) the maximum amount of insurance available under the Federal National Flood Insurance Administration and the requirements Act of FNMA or FHLMC1968, as amended. The Servicer shall also maintain maintain, to the extent such insurance is available, and required by the SBA Rules and Regulations and the Servicer's policies, on REO PropertyForeclosed Property constituting real property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, amounts described above and liability insurance and, to the extent required, flood insurance in an amount required aboveinsurance. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage LoanMortgaged Property, or to be released to the Mortgagor Obligor in accordance with Customary Servicing Proceduresthe SBA Rules and Regulations) shall be deposited in the Servicer Custodial Principal and Interest Account, subject to withdrawal pursuant to Section 3.11(a)5.04. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor Obligor or maintained on REO Foreclosed Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss losses payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount Servicer or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyits affiliates.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the related Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser of (a) state where the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the related Mortgaged Property is in located. Each such policy of standard hazard insurance shall contain, or have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such accompanying endorsement that contains, a standard mortgagee clause. The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 4.01, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Protected Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)4.02. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the least of (i) the Stated Principal Balance of the related development in Mortgage Loan, (ii) minimum amount required to compensate for damage or loss on a manner which is consistent with FNMA requirementsreplacement cost basis or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Master Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.05, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Master Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.05, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Protected Account the difference, if any, between the amount that would have been not otherwise payable under a separate the blanket policy complying because of such deductible clause. Such deposit shall be from the Master Servicer's own funds without reimbursement therefor. In connection with this Section 3.12 its activities as administrator and servicer of the Mortgage Loans, the Master Servicer agrees to present, on behalf of itself, the Depositor and the amount paid Trustee for the benefit of the Certificateholders claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal that conforms to the lesser requirements of (a) the full insurable value of the Mortgaged Property Fannie Mae or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policyFreddie Mac. If the Mortgaged Property is in an area identified in the axxx xxexxxfied xx xxx Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO Property, fire and XXX Xxoperty fxxx xxx hazard insurance with extended coverage in an amount which is at least equal to meets the maximum insurable value requirements of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required aboveFannie Mae or Freddie Mac. Any amounts collected by the Servicer under Servicex xxxxr any such policies suxx xxxxcies (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Accepted Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)Subsection 11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either its insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect that do not conform to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyFannie Mae or Freddie Mac.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal that conforms to the lesser requirements of (a) the full insurable value of the Mortgaged Property Fxxxxx Mxx or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policyFxxxxxx Mac. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fxxxxx Mae or FHLMCFxxxxxx Mac. The Servicer shall also maintain on REO Property, Property fire and hazard insurance with extended coverage in an amount which is at least equal to meets the maximum insurable value requirements of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required aboveFxxxxx Mae or Fxxxxxx Mac. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Accepted Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)Subsection 11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either its insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect that do not conform to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyFxxxxx Mae or Fxxxxxx Mac.

Maintenance of Hazard Insurance. The Each Servicer shall cause to be maintained for each Mortgage Loan, Loan serviced by such Servicer fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the related Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Each Servicer shall also maintain on REO PropertyProperty serviced by such Servicer, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the a Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the related Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the a Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the related Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the such Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the either Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans serviced by such Servicer in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the related Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the related Servicer shall deposit in the related Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Each Servicer shall cause to be maintained for each Mortgage Loan, Loan serviced by such Servicer fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the related Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Each Servicer shall also maintain on REO PropertyProperty serviced by such Servicer, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the a Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the related Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the a Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the related Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the such Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the any Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans serviced by such Servicer in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the related Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the related Servicer shall deposit in the related Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. (a) The Master Servicer shall maintain and keep, cause to be maintained and kept, for each Mortgage Loan, fire and hazard insurance with on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the such Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount state where such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in located. Each such policy of standard hazard insurance shall contain, or have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such accompanying endorsement that contains, a standard mortgagee clause. The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 4.02 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the related Mortgaged Property or property subject thus acquired or amounts released to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures, and other than amounts collected under any such policies that represent reimbursement of the Master Servicer's costs and expenses incurred in connection with presenting claims under the Insurance Policies relating to such Mortgaged Property) shall be deposited in the Master Servicer Custodial Collection Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable calculating monthly distributions to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount Certificateholders or material change in coverage remittances to the Servicer. The hazard insurance policies Trustee for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall their benefit, be maintained with respect added to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all principal balance of the Mortgaged Properties relating to Mortgage Loan, notwithstanding that the Mortgage Loans in lieu terms of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.Loan so

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan (other than a Co-op Loan), fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full insurable replacement value of the improvements that are part of such Mortgaged Property or and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained accompanying endorsement that contains, a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCstandard mortgagee clause. The Servicer shall also maintain cause flood insurance to be maintained on REO Property, fire and hazard insurance with extended coverage property acquired upon foreclosure or deed in an amount which is at least equal to the maximum insurable value lieu of the improvements which are a part foreclosure of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Servicer's normal servicing procedures) shall be deposited in the Collection Account. Any cost incurred by the Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the original principal balance of the related development in a manner which is consistent with FNMA requirementsMortgage Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.10, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.10, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, deposit in the Collection Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, the Servicer shall deposit in agrees to present, on behalf of itself, the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, fire and hazard insurance with on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the related Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser of (a) state where the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the related Mortgaged Property is in located. Each such policy of standard hazard insurance shall contain, or have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany EMC Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 5.01, flood insurance in an amount required above. Any any amounts collected by the Servicer Company under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Company’s normal servicing procedures) shall be deposited in the Servicer Custodial AccountProtected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee (or Securities Administrator on its behalf) for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the EMC Mortgage Loan so permit. Such costs shall be recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)5.02. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each related EMC Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained with respect to such EMC Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the least of (i) the Stated Principal Balance of the related development in EMC Mortgage Loan, (ii) minimum amount required to compensate for damage or loss on a manner which is consistent with FNMA requirementsreplacement cost basis or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating EMC Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.05, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Company shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.05, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Protected Account maintained by the difference, if any, between Company the amount that would have been not otherwise payable under a separate the blanket policy complying because of such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with this Section 3.12 its activities as administrator and servicer of the EMC Mortgage Loans, the Company agrees to present, on behalf of itself, the Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Each Servicer shall cause to be maintained for each Mortgage Loan, Loan serviced by such Servicer fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the related Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Each Servicer shall also maintain on REO PropertyProperty serviced by such Servicer, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the a Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the related Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the a Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the related Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the such Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the any Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans serviced by such Servicer in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the related Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the related Servicer shall deposit in the related Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer’s normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12. Any the improvements that are part of such blanket policy may contain a deductible clause; provided that if any Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyunder the Flood Disaster Protection Act of 1973, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyas amended.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer’s normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Any such blanket If the hazard policy may contain contains a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Master Servicer shall will be required to deposit in from its own funds into the Servicer Custodial Certificate Account the difference, if any, between the amount amounts that would have been payable under a separate policy complying with this Section 3.12 and deposited therein but for the amount paid under such blanket policydeductible clause.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal that conforms to the lesser requirements of (a) the full insurable value of the Mortgaged Property Fannie Mae or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policyFreddie Mac. If the Mortgaged Property is in an area identified in the arxx xxxnxxxied xx xxx Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO Property, fire and RXX Xxxperty fixx xxx hazard insurance with extended coverage in an amount which is at least equal to meets the maximum insurable value requirements of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required aboveFannie Mae or Freddie Mac. Any amounts collected by the Servicer under xxxxx any such policies sucx xxxxxies (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Accepted Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)Subsection 11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either its insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect that do not conform to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyFannie Mae or Freddie Mac.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer’s normal servicing procedures) shall be deposited in the Collection Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Noteholders or remittances to the Indenture Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12. Any the improvements that are part of such blanket policy may contain a deductible clause; provided that if any Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyunder the Flood Disaster Protection Act of 1973, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyas amended.

Maintenance of Hazard Insurance. The Servicer Seller shall cause to be maintained for each Mortgage Loan, Mortgaged Property fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located by an insurer acceptable to the Agency, in an amount which is at least equal acceptable to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policyAgency. If the Mortgaged Property is in an area identified in the Federal Register on a flood hazard map or flood insurance rate map issued by the Federal Emergency Management Agency as having a special flood hazards hazard area (and such flood insurance has been made available) the Servicer will cause to be maintained ), Seller shall maintain for that Mortgaged Property a flood insurance policy meeting the requirements of the current guidelines requirements of the Federal National Flood Insurance Administration Program and the coverage amount requirements of FNMA or FHLMCthe Agency. The Servicer Seller shall also maintain on REO Property, Property fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value principal balance of the improvements which are a part of such propertyrelated Mortgage Loan foreclosed, liability insurance and, to the extent requiredrequired and available under the National Flood Insurance Program, flood insurance in an amount required aboveof the lesser of the principal balance of the related Mortgage Loan foreclosed or the maximum amount of flood insurance available under the National Flood Insurance Program. Any amounts collected by the Servicer Seller under any such policies (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing ProceduresProcedures and the Mortgage Loan Documents) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer Seller of any Mortgagor or maintained on REO Property, Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the ServicerSeller, and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to Seller. Seller shall not interfere with the Servicer. The hazard Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that Seller shall not accept any such insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to from insurance companies unless such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policycompanies are Qualified Insurers.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full 114 maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Any such blanket If the hazard policy may contain contains a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Master Servicer shall will be required to deposit in from its own funds into the Servicer Custodial Certificate Account the difference, if any, between the amount amounts that would have been payable under a separate policy complying with this Section 3.12 and deposited therein but for the amount paid under such blanket policydeductible clause.

Maintenance of Hazard Insurance. Property Protection ---------------------------------------------------- Expenses. The Servicer shall cause to be maintained for each Mortgage Loan, Home Equity Loan -------- fire and hazard insurance with naming the Servicer as loss payee thereunder providing extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage improvements securing such Home Equity Loan from time to time and (ii) an the minimum amount such that the proceeds of such insurance shall be sufficient required to avoid the application to the Mortgagor compensate for damage or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained on a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCreplacement cost basis. The Servicer shall also maintain on REO Propertyproperty acquired upon foreclosure, fire and or by deed in lieu of foreclosure, hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value from time to time of the improvements which are a part of such property, liability insurance and, to property and (ii) the extent required, flood insurance in an minimum amount required aboveto compensate for damage or loss on a replacement cost basis at the time of such foreclosure, fire and or deed in lieu of foreclosure plus accrued interest and the good-faith estimate of the Servicer of related Other Advances to be incurred in connection therewith. Any amounts Amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Collection Account to the extent called for by Section 3.02. In cases in which any Mortgaged Property is located in a federally designated flood area, the hazard insurance to be maintained for the related Home Equity Loan shall include flood insurance to the extent such flood insurance is available and the Servicer Custodial Accounthas determined such insurance to be necessary in accordance with accepted Home Equity Loan servicing standards. All such flood insurance shall be in amounts equal to the least of the amount in clause (i) above, subject clause (ii) above and the maximum amount of insurance available under the National Flood Insurance Act of 1968, as amended. The Servicer shall be under no obligation to withdrawal pursuant to Section 3.11(a). It is understood and agreed require that no any Mortgagor maintain earthquake or other additional insurance need and shall be required by the Servicer under no obligation itself to maintain any such additional insurance on property acquired in respect of any Mortgagor or maintained on REO Propertya Home Equity Loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to Required Servicing Practices. If at any time during the term of the Mortgage Loan, fire the Servicer determines in accordance with applicable law and hazard insurance with extended coverage customary in pursuant to the area where the CMHC Guide that a Mortgaged Property is located in an amount which a special flood hazard area and is at least equal not covered by flood insurance satisfactory to CMHC, the Servicer shall notify the related Mortgagor (to the lesser of (a) extent permitted by the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the applicable Mortgage Loan and (iiFile) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and must obtain such flood insurance has been made availablecoverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer will shall immediately purchase the required flood insurance on the Mortgagor's behalf. The Servicer shall cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA on each Mortgaged Property such other or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need as may be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of CMHC Guide. All policies required hereunder shall be endorsed with standard name the Servicer and its successors and assigns as mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days thirty (30) days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicercoverage. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development Servicer shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply not interfere with the requirements Mortgagor's freedom of this Section 3.12. Any such blanket policy may contain a deductible clause; provided choice in selecting either his insurance carrier or agent, provided, however, that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in not accept any such insurance policies from insurance companies which do not meet or exceed applicable requirements of the CMHC Guide. The Servicer Custodial Account shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the differenceCMHC Guide, if anythat they insure the property owner, between and that they properly describe the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.property address. To the

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyProxxxxx, fire and hazard xxxe anx xxxxxd insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer txx Xxxvicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyPrxxxxxx, fire and hazard xxre axx xxxxrd insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer Sexxxxxx may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyPxxxxxxy, fire and hazard xire xxx xxxard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer xxx Xervicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal that conforms to the lesser requirements of (a) the full insurable value of the Mortgaged Property Fxxxxx Mxx or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policyFreddie Mac. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fxxxxx Mxx or FHLMCFreddie Mac. The Servicer shall also maintain on REO Property, Property fire and hazard insurance with extended coverage in an amount which is at least equal to meets the maximum insurable value requirements of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required aboveFxxxxx Mxx or Freddie Mac. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Accepted Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)Subsection 11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either its insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect that do not conform to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyFxxxxx Mxx or Freddie Mac.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained accompanying endorsement that contains, a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCstandard mortgagee clause. The Master Servicer shall also maintain cause flood insurance to be 104 maintained on REO Property, fire and hazard insurance with extended coverage property acquired upon foreclosure or deed in an amount which is at least equal to the maximum insurable value lieu of the improvements which are a part foreclosure of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12. Any the improvements that are part of such blanket policy may contain a deductible clause; provided that if any Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyunder the Flood Disaster Protection Act of 1973, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyas amended.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyPrxxxxxx, fire and hazard xxre axx xxxxrd insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer thx Xxxxicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained for each Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Master Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Master Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Master Servicer under any such policies (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Collection Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Master Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Master Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Master Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Master Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Master Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Master Servicer shall deposit in the Servicer Custodial Collection Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Xxxxxx Xxx or FHLMCXxxxxxx Mac. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Xxxxxx Mae requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan (other than a Co-op Loan), fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full insurable replacement value of the improvements that are part of such Mortgaged Property or and (bii) the greater of of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained accompanying endorsement that contains, a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCstandard mortgagee clause. The Servicer shall also maintain cause flood insurance to be maintained on REO Property, fire and hazard insurance with extended coverage property acquired upon foreclosure or deed in an amount which is at least equal to the maximum insurable value lieu of the improvements which are a part foreclosure of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Servicer's normal servicing procedures) shall be deposited in the Collection Account. Any cost incurred by the Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the lesser of (i) the original principal balance of the related development in a manner which is consistent with FNMA requirementsMortgage Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.10, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.10, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, deposit in the Collection Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, the Servicer shall deposit in agrees to present, on behalf of itself, the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the related Mortgaged Property or 115 property subject to the related Mortgage thus acquired or property acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12. Any the improvements that are part of such blanket policy may contain a deductible clause; provided that if any Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyunder the Flood Disaster Protection Act of 1973, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyas amended.

Maintenance of Hazard Insurance. The Each Servicer shall cause to be maintained for each Mortgage LoanLoan serviced by such Servicer, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the related Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Each Servicer shall also maintain on REO PropertyProperty serviced by such Servicer, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the a Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the related Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the a Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the related Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the such Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the either Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans serviced by such Servicer in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the related Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the related Servicer shall deposit in the related Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyProxxxxx, fire and hazard xxxe anx xxxxxd insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer txx Xxxvicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. Property Protection ---------------------------------------------------- Expenses. The Servicer shall cause to be maintained for each Mortgage Loan, fire and Loan -------- hazard insurance with naming the Servicer or the related subservicer as loss payee thereunder providing extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property improvements securing such Mortgage Loan from time to time or (bii) the greater of (i) the outstanding combined principal balance owing on the such Mortgage Loan and (ii) an amount any mortgage loan senior to such that the proceeds of such insurance shall be sufficient Mortgage Loan from time to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCtime. The Servicer shall also maintain on REO Propertyproperty acquired upon foreclosure, fire and or by deed in lieu of foreclosure, hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value from time to time of the improvements which are a part of such property, liability insurance and, property or (ii) the combined principal balance owing on such Mortgage Loan and any mortgage loan senior to such Mortgage Loan at the extent required, flood insurance time of such foreclosure or deed in an amount required abovelieu of foreclosure plus accrued interest and the good-faith estimate of the Servicer of related Liquidation Expenses to be incurred in connection therewith. Any amounts Amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Collection Account to the extent called for by Section 3.02. In cases in which any Mortgaged Property is located in a federally designated flood area, the hazard insurance to be maintained for the related Mortgage Loan shall include flood insurance. All such flood insurance shall be in such amounts as are required under applicable guidelines of the Federal Flood Emergency Act. The Servicer Custodial Account, subject shall be under no obligation to withdrawal pursuant to Section 3.11(a). It is understood and agreed require that no any Mortgagor maintain earthquake or other additional insurance need and shall be required by the Servicer under no obligation itself to maintain any such additional insurance on property acquired in respect of any Mortgagor or maintained on REO Propertya Mortgage Loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, If the Servicer may shall obtain and maintain a blanket policy consistent with prudent industry standards insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with an aggregate amount prudent under industry standards, (B) name it shall conclusively be deemed to have satisfied its obligations as set forth in the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that 3.04 and if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and there shall have been a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account Collection Account, as the differencecase may be, if any, between the amount that would have been not otherwise payable under a separate the blanket policy complying with this Section 3.12 and the amount paid under such blanket policybecause of any deductible clause.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each first lien Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained accompanying endorsement that contains, a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCstandard mortgagee clause. The Servicer shall also maintain cause flood insurance to be maintained on REO Property, fire and hazard insurance with extended coverage property acquired upon foreclosure or deed in an amount which is at least equal to the maximum insurable value lieu of the improvements which are a part foreclosure of such property, liability insurance andany Mortgage Loan, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)described below. It is understood and agreed that no earthquake or other additional insurance need is required to be required 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. Pursuant to Section 3.05 hereof, any amounts collected by the Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12. Any the improvements that are part of such blanket policy may contain a deductible clause; provided that if any Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyunder the Flood Disaster Protection Act of 1973, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyas amended.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, fire and hazard insurance with on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the related Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser of (a) state where the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the related Mortgaged Property is in located. Each such policy of standard hazard insurance shall contain, or have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany EMC Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 5.01, flood insurance in an amount required above. Any any amounts collected by the Servicer Company under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Company’s normal servicing procedures) shall be deposited in the Servicer Custodial AccountProtected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee (or Securities Administrator on its behalf) for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the EMC Mortgage Loan so permit. Such costs shall be recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)5.02. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each related EMC Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained with respect to such EMC Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the least of (i) the Stated Principal Balance of the related development in EMC Mortgage Loan, (ii) minimum amount required to compensate for damage or loss on a manner which is consistent with FNMA requirementsreplacement cost basis or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating EMC Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.05, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Company shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.05, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Protected Account maintained by the difference, if any, between Company the amount that would have been not otherwise payable under a separate the blanket policy complying because of such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with this Section 3.12 its activities as administrator and servicer of the EMC Mortgage Loans, the Company agrees to present, on behalf of itself, the Depositor and the amount paid Trustee for the benefit of the Certificateholders and the Class A-5 Insurer, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer Company shall cause to be maintained maintained, for each EMC Mortgage Loan, fire and hazard insurance with on buildings upon, or comprising part of, the Mortgaged Property against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the related Mortgaged Property is located in with an amount insurer which is at least equal licensed to do business in the lesser of (a) state where the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the related Mortgaged Property is in located. Each such policy of standard hazard insurance shall contain, or have an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such accompanying endorsement that contains, a standard mortgagee clause. The Company shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany EMC Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 5.01, flood insurance in an amount required above. Any any amounts collected by the Servicer Company under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Company’s normal servicing procedures) shall be deposited in the Servicer Custodial AccountProtected Account maintained by the Company. Any cost incurred by the Company in maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Noteholders and the Certificateholders or remittances to the Securities Administrator for their benefit, be added to the principal balance of the EMC Mortgage Loan, notwithstanding that the terms of the EMC Mortgage Loan so permit. Such costs shall be recoverable by the Company out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.11(a)5.02. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each related EMC Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Company shall cause flood insurance to be maintained with respect to such EMC Mortgage Loan and Loan. The Company shall have no obligation to cause flood insurance to be maintained on any second lien Mortgage Loan. Such flood insurance shall be in an amount equal to the least of (i) the Stated Principal Balance of the related development in EMC Mortgage Loan, (ii) minimum amount required to compensate for damage or loss on a manner which is consistent with FNMA requirementsreplacement cost basis or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may Company shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating EMC Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.05, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Company shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.05, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Protected Account maintained by the difference, if any, between Company the amount that would have been not otherwise payable under a separate the blanket policy complying because of such deductible clause. Such deposit shall be from the Company’s own funds without reimbursement therefor. In connection with this Section 3.12 its activities as administrator and servicer of the EMC Mortgage Loans, the Company agrees to present, on behalf of itself and the amount paid Indenture Trustee for the benefit of the Noteholders and the Certificateholders claims under any such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained maintained, for each Mortgage Loan (other than a Co-op Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property), fire and hazard insurance with extended coverage in an amount which that is at least equal to the maximum insurable least of (i) the replacement value of the improvements which that are a part of such propertyMortgaged Property, liability or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds of such policy shall be sufficient to prevent the related Mortgagor and/or mortgagee from becoming a co-insurer or (iii) the amount required under applicable HUD/FHA regulations. Each policy of standard hazard insurance andshall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. The Servicer shall also cause flood insurance to be maintained on property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Servicer's normal servicing procedures) shall be deposited in the Collection Account. Any cost incurred by the Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent and as otherwise permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and Loan. Such flood insurance shall be in an amount equal to the least of (i) the original principal balance of the related development in a manner which is consistent with FNMA requirementsMortgage Loan, (ii) the replacement value of the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Notwithstanding In the foregoing, event that the Servicer may shall obtain and maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.10, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 3.10, and there shall have been a loss occurs with respect to such Mortgaged Property which loss that would have been covered by such a policy, deposit in the Collection Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, the Servicer shall deposit in agrees to present, on behalf of itself, the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 Depositor and the amount paid Trustee for the benefit of the Certificateholders, claims under any such blanket policy.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12the improvements that are part of such 104 Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Any such blanket If the hazard policy may contain contains a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Master Servicer shall will be required to deposit in from its own funds into the Servicer Custodial Certificate Account the difference, if any, between the amount amounts that would have been payable under a separate policy complying with this Section 3.12 and deposited therein but for the amount paid under such blanket policydeductible clause.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyPrxxxxxx, fire and hazard xxre axx xxxxrd insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer xxx Xxrxxxer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and Loan hazard insurance with such that all buildings upon the Mortgaged Property are insured by an insurer that satisfies the requirements of FNMA or FHLMC against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located located, in an amount which that is at least equal to not less than the lesser of (a) the full insurable replacement value of the improvements securing such Mortgage Loan or the unpaid principal balance of such Mortgage Loan, whichever is less. If upon origination of the Mortgage Loan, the related Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is was located in an area identified in the Federal Register by the Federal Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made availableavailable under the National Flood Insurance Program) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal federal Flood Insurance Administration and is in effect with a generally acceptable insurance carrier that satisfies the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage FHLMC in an amount which is at least representing coverage equal to the maximum insurable corresponding amount required by FNMA as set forth in the FNMA Mortgage-Backed Securities Selling and Servicing Guide or by FHLMC as set forth in the FHLMC Sellers' and Servicers' Guide. If a Mortgage is secured by a unit in a condominium, 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 or FHLMC requirements, and secure from the owner's association its agreement to notify the Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurancesecurity. All policies required hereunder shall name the Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Servicerclauses, and which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Servicer shall not accept any such insurance policies from insurance companies unless such companies satisfy the requirements of FNMA or FHLMC and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The 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 ServicerMortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. The hazard insurance Pursuant to Section 4.04, any amounts collected by the Servicer under any such policies for each Mortgage Loan secured by a unit (other than amounts to be deposited in a condominium development the Escrow Account and applied to the restoration or planned unit development shall be maintained with respect to such Mortgage Loan and repair of the related development Mortgaged Property, or property acquired in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all liquidation of the Mortgaged Properties relating Mortgage Loan, or to be released to the Mortgage Loans Mortgagor in lieu accordance with the terms of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insuranceNote, and (D) otherwise comply in accordance with the requirements of this Servicer's normal servicing procedures as specified in Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer 4.14) shall deposit be deposited in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this subject to withdrawal pursuant to Section 3.12 and the amount paid under such blanket policy4.05.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood 104 hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12the improvements that are part of such Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Any such blanket If the hazard policy may contain contains a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Master Servicer shall will be required to deposit in from its own funds into the Servicer Custodial Certificate Account the difference, if any, between the amount amounts that would have been payable under a separate policy complying with this Section 3.12 and deposited therein but for the amount paid under such blanket policydeductible clause.

Maintenance of Hazard Insurance. Property Protection ---------------------------------------------------- Expenses. The Master Servicer shall cause to be maintained for each Mortgage Loan, fire and -------- Loan hazard insurance with naming the Master Servicer or the related subservicer as loss payee thereunder providing extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property improvements securing such Mortgage Loan from time to time or (bii) the greater of (i) the outstanding combined principal balance owing on the such Mortgage Loan and (ii) an amount any mortgage loan senior to such that the proceeds of such insurance shall be sufficient Mortgage Loan from time to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMCtime. The Master Servicer shall also maintain on REO Propertyproperty acquired upon foreclosure, fire and or by deed in lieu of foreclosure, hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value from time to time of the improvements which are a part of such property, liability insurance and, property or (ii) the combined principal balance owing on such Mortgage Loan and any mortgage loan senior to such Mortgage Loan at the extent required, flood insurance time of such foreclosure or deed in an amount required abovelieu of foreclosure plus accrued interest and the good-faith estimate of the Master Servicer of related Liquidation Expenses to be incurred in connection therewith. Any amounts Amounts collected by the Master Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Collection Account to the extent called for by Section 3.02. In cases in which any Mortgaged Property is located in a federally designated flood area, the hazard insurance to be maintained for the related Mortgage Loan shall include flood insurance. All such flood insurance shall be in such amounts as are required under applicable guidelines of the Federal Flood Emergency Act. The Master Servicer Custodial Account, subject shall be under no obligation to withdrawal pursuant to Section 3.11(a). It is understood and agreed require that no any Mortgagor maintain earthquake or other additional insurance need and shall be required by the Servicer under no obligation itself to maintain any such additional insurance on property acquired in respect of any Mortgagor or maintained on REO Propertya Mortgage Loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder If the Master Servicer shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, obtain and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy consistent with prudent industry standards insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with an aggregate amount prudent under industry standards, (B) name it shall conclusively be deemed to have satisfied its obligations as set forth in the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements first sentence of this Section 3.12. Any 3.04, it being understood and agreed that such blanket policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If such policy contains a deductible clause; provided , the Master Servicer shall, in the event that if any there shall not have been maintained on the related Mortgaged Property is not covered by a separate policy otherwise complying with the first sentence of this Section 3.12 Section, and there shall have been a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Collection Account the difference, if any, between the amount that would have been not otherwise payable under a separate the blanket policy complying with this Section 3.12 and the amount paid under because of such blanket policydeductible clause.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO PropertyPrxxxxxx, fire and hazard xire xxx xxxard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days days' prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA Fannie Mae requirements. Notwithstanding the foregoing, the Servicer Sexxxxxx may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal that conforms to the lesser requirements of (a) the full insurable value of the Mortgaged Property FNMA or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policyFHLMC. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, Property fire and hazard insurance with extended coverage in an amount which is at least equal to meets the maximum insurable value requirements of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required aboveFNMA or FHLMC. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Accepted Servicing ProceduresPractices) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)Subsection 11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either its insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect that do not conform to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyFNMA or FHLMC.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to Accepted Servicing Practices. If at any time during the term of the Mortgage Loan, fire the Servicer determines in accordance with applicable law and hazard insurance with extended coverage customary in pursuant to the area where the Xxxxxx Xxx and FHLMC guidelines and procedures that a Mortgaged Property is located in an amount which a special flood hazard area and is at least equal not covered by flood insurance satisfactory to Xxxxxx Xxx and FHLMC, the Servicer shall notify the related Mortgagor (to the lesser of (a) extent permitted by the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the applicable Mortgage Loan and (iiFile) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and must obtain such flood insurance has been made availablecoverage, and if said Xxxxxxxxx fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Servicer will shall immediately purchase the required flood insurance on the Mortgagor's behalf. The Servicer shall cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA on each Mortgaged Property such other or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need as may be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of the Xxxxxx Xxx and FHLMC guidelines and procedures. All policies required hereunder shall be endorsed with standard name the Servicer and its successors and assigns as mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days thirty (30) days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Servicer shall not interfere with the Mortgagee's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies which do not meet or exceed applicable requirements of the Xxxxxx Xxx and FHLMC guidelines and procedures. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the ServicerXxxxxx Xxx and FHLMC guidelines and procedures, that they insure the property owner, and that they properly describe the property address. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and To the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, extent reasonably possible the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating shall furnish to the Mortgage Loans Mortgagor a formal notice of expiration of any such insurance in lieu of maintaining sufficient time for the required hazard insurance policies Mortgagor to arrange for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards renewal cover age by the expiration date; provided, however, that in lieu of maintaining any required flood insurance. Any the event that no such blanket policies shall (A) be consistent with prudent industry standards, (B) name notice is furnished by the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policyServicer, the Servicer shall deposit ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event such coverage is not provided. Pursuant to Section 2.4, 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 as specified in Section 2.14) shall be deposited in the Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this subject to withdrawal pursuant to Section 3.12 and the amount paid under such blanket policy2.5.

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each BANA Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the BANA Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO PropertyProperty serviced by it, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the BANA Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer BANA Custodial Account, subject to withdrawal pursuant to Section 3.11(a)2.10. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.such

Maintenance of Hazard Insurance. The Servicer shall cause to be maintained for each Mortgage Loan, Loan fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal that conforms to the lesser requirements of (a) the full insurable value of the Mortgaged Property Fannie Mae or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policyFreddie Mac. If the Mortgaged Property is in an area identified xxxxxxfxxx in the Federal xxx Xxxeral Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA Fannie Mae or FHLMCFreddie Mac. The Servicer shall also maintain on REO Property, Xxxxxxty fire and hazard xxx xxxard insurance with extended coverage in an amount which is at least equal to meets the maximum insurable value requirements of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required aboveFannie Mae or Freddie Mac. Any amounts collected by the Servicer under any unxxx xxy such policies pxxxxxxx (other than amounts to be deposited in an the Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Accepted Servicing Procedures) shall be deposited in the Servicer Custodial Account, subject to withdrawal pursuant to Section 3.11(a)Subsection 11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, Property other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, and shall provide for at least 30 thirty (30) days prior written notice of any cancellation, reduction in amount or material change in coverage to the Servicer. The hazard Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either its insurance carrier or agent; provided, however, that the Servicer shall not accept any such insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect that do not conform to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policyFannie Mae or Freddie Mac.

Maintenance of Hazard Insurance. The Master Servicer shall cause to be maintained maintained, for each Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which that is at least equal to the lesser of (ai) the full maximum insurable value of the Mortgaged Property or improvements securing such Mortgage Loan and (bii) the greater of (ia) the outstanding principal balance owing on of the Mortgage Loan and (iib) an amount such that the proceeds of such insurance policy shall be sufficient to avoid prevent the application to the related Mortgagor and/or mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or loss payee of any coinsurance clause under the policyhave an accompanying endorsement that contains, a standard mortgagee clause. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such The Master Servicer shall also cause flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements on property acquired upon foreclosure or deed in lieu of the current guidelines foreclosure of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance andany Mortgage Loan, to the extent requireddescribed below. Pursuant to Section 3.05 hereof, flood insurance in an amount required above. Any any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage Mortgaged Property or property thus acquired in liquidation of the Mortgage Loan, or to be amounts released to the Mortgagor in accordance with Customary Servicing Proceduresthe Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer Custodial Accountin maintaining any such insurance shall not, subject for the purpose of calculating monthly distributions to withdrawal pursuant the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section 3.11(a)3.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Servicer of any Mortgagor or maintained on REO Property, property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to If the Servicer, and shall provide for Mortgaged Property is located at least 30 days prior written notice the time of any cancellation, reduction in amount or material change in coverage to origination of the Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsLoan. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard Such flood insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid lesser of (i) the original principal balance on of the related Mortgage Loans without co-insuranceLoan, and (Dii) otherwise comply with the requirements replacement value of this Section 3.12the improvements that are part of such 100 Mortgaged Property, or (iii) the maximum amount of such insurance available for the related Mortgaged Property under the Flood Disaster Protection Act of 1973, as amended. Any such blanket If the hazard policy may contain contains a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Master Servicer shall will be required to deposit in from its own funds into the Servicer Custodial Certificate Account the difference, if any, between the amount amounts that would have been payable under a separate policy complying with this Section 3.12 and deposited therein but for the amount paid under such blanket policydeductible clause.

Maintenance of Hazard Insurance. The Each Servicer shall cause to be maintained for each Mortgage Loan, Loan serviced by such Servicer fire and hazard insurance with extended coverage customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (a) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the related Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Each Servicer shall also maintain on REO PropertyProperty serviced by such Servicer, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required, flood insurance in an amount required above. Any amounts collected by the a Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair of the property subject to the related Mortgage or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Customary Servicing Procedures) shall be deposited in the Servicer Custodial related Collection Account, subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the a Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the related Servicer, and shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage to the such Servicer. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirements. Notwithstanding the foregoing, the either Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans serviced by such Servicer in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the related Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the related Servicer shall deposit in the Servicer Custodial related Collection Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.

Maintenance of Hazard Insurance. The With respect to any Mortgage Loans which are first liens on the related Mortgaged Properties, Servicer shall shall, as a Property Protection Expense if not paid by a Mortgagor, (i) enforce the Mortgagor’s obligations under the Mortgage Loan Documents to cause each Mortgaged Property to be maintained for each insured against risks, hazards and liabilities as required by all applicable Requirements and the Mortgage Loan Documents, in an amount at least equal to the unpaid principal balance of the Mortgage Loan, fire and hazard insurance with extended coverage customary in the area where the Mortgaged (ii) cause each REO Property is located to be insured against risks, hazards and liabilities, in an amount which is at least equal to the lesser of (aA) the full insurable value of the Mortgaged Property or (b) the greater of (i) the outstanding principal balance owing on the Mortgage Loan and (ii) an amount such that the proceeds of such insurance shall be sufficient to avoid the application to the Mortgagor or loss payee of any coinsurance clause under the policy. If the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) the Servicer will cause to be maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and the requirements of FNMA or FHLMC. The Servicer shall also maintain on REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable replacement value of the improvements which are a part of such propertyREO Property, liability insurance and, to and (B) the extent required, flood insurance in an amount required above. Any amounts collected by the Servicer under any such policies (other than amounts to be deposited in an Escrow Account and applied to the restoration or repair outstanding principal balance of the property subject to the related Mortgage Loan at the time it became an REO Property; such insurance shall be obtained from a financially sound and reputable insurance carrier. The Servicer shall retain copies of all Hazard Insurance policies or property acquired certificates of insurance representing such coverage. The Servicer shall comply with all of the terms of Mortgage Insurance and guarantees relating to any Mortgage Loan and shall use its best efforts to maintain such Mortgage Insurance and guarantees in liquidation full force and effect provided that Servicer has actual knowledge of such insurance or guaranty. In the event of an insured loss with respect to any Property, unless Servicer has actual knowledge that the Mortgagor has filed such a claim with respect to a Mortgaged Property, Servicer shall promptly file or cause to be filed a claim on the Hazard Insurance. In the case of a Mortgaged Property, Servicer shall apply or disburse all insurance proceeds in accordance with the terms and provisions of the Mortgage LoanLoan Documents and all Requirements, and, in the case of a REO Property, Servicer shall apply or to be released to the Mortgagor disburse all insurance proceeds in accordance with Customary Servicing Procedures) the instructions of Owner, in each case net of any amounts due to Servicer as otherwise provided here n. The Servicer shall be deposited responsible for submitting a claim under any Mortgage Insurance or other guaranty or insurance on a timely basis provided that Servicer has actual knowledge of such insurance or guaranty. Except as otherwise prescribed by Accepted Servicing Practices with aspect to any Mortgage Loans which are first liens on the related Mortgaged Properties, Servicer shall, as a Property Protection Expense and where the Mortgagor fails or refuses to maintain insurance on the Mortgaged Property in accordance with the Servicer Custodial Accountapplicable Mortgage Lean Documents (or to pay escrows sufficient therefore, as the case may be), subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed that no earthquake or other additional insurance need be required by the Servicer of any Mortgagor or maintained on REO Property, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. All policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable Mortgaged aged Properties to the Servicercoverage of a “force-placed” hazard insurance policy with such deductibles as Servicer maintains for “force-placed” policies placed on similar mortgaged properties or its other servicing clients. The Owner acknowledges that such “forced-placed” insurance, and shall provide for at least 30 days prior written notice policies may be obtained from SN Insurance Company, Inc., an affiliate of any cancellation, reduction in amount or material change in coverage to the Servicer. The amount of any premiums to Servicer resulting from obtaining such coverage shall be treated as a Property Protection Expense hereunder. The Owner shall be solely responsible for the amount of the deductible in the event of any loss and Servicer shall have no liability to Owner therefore fore. The Servicer shall have no obligation to “force place” hazard insurance policies for each Mortgage Loan on any Mortgaged Property that is not secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with FNMA requirementsfirst lien Mortgage. Notwithstanding the foregoing, the Servicer may maintain a blanket policy insuring against hazard losses on all of the Mortgaged Properties relating to the Mortgage Loans in lieu of maintaining the required hazard insurance policies for each Mortgage Loan and may maintain a blanket policy insuring against special flood hazards in lieu of maintaining any required flood insurance. Any such blanket policies shall (A) be consistent with prudent industry standards, (B) name the Servicer as loss payee, (C) provide coverage in an amount equal to the aggregate unpaid principal balance on the related Mortgage Loans without co-insurance, and (D) otherwise comply with the requirements of this Section 3.12. Any such blanket policy may contain a deductible clause; provided that if any Mortgaged Property is not covered by a separate policy otherwise complying with this Section 3.12 and a loss occurs with respect to such Mortgaged Property which loss would have been covered by such a policy, the Servicer shall deposit in the Servicer Custodial Account the difference, if any, between the amount that would have been payable under a separate policy complying with this Section 3.12 and the amount paid under such blanket policy.Flow Special Servicing Agreement 17