Common use of Maintenance of Hazard Insurance Clause in Contracts

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to the FNMA or FHLMC Guides Fxxxxx Mae Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s 's Key Rating Guide currently acceptable to Fxxxxx Mxx and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.02(e). It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located by an insurer acceptable to Fxxxxx Mxx or Fxxxxxx Mac and FHA or VA, as applicable, in an amount which that is at least equal to the lesser of (ia) the maximum full insurable value of the improvements securing Mortgaged Property and (b) the greater of (1) the Unpaid Principal Balance of such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b2) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee loss payee from becoming a co-insurer. If required any Mortgaged Property is in an area identified by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as having special flood hazards and such flood insurance has been made available, as amended, each Mortgage Loan shall then the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least lesser of (ia) the minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such related Mortgage Loan if replacement cost coverage is not available for the type of building insured) or (iiib) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during amended (assuming that the term of the Mortgage Loan, the Seller determines area in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a which such Mortgaged Property is located is participating in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalfprogram). The Seller Servicer shall also maintain on each REO PropertyProperty fire, fire hazard 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 propertyliability insurance, and, and to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance with extended coverage in an amount which is at least equal to the lesser of (a) the maximum insurable value of the improvements which are a part of such property and (b) the outstanding principal balance of the related Mortgage Loan at the time it became an REO Property plus accrued interest at the Note Rate and related Servicing Advances. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Servicer, or upon request to the Purchaser, and shall provide for at least 30 days prior written notice of any cancellation, reduction in the amount of, or material change in, coverage to the Servicer. The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Fxxxxx Mae or Fxxxxxx Mac and FHA or VA, as provided applicable, and are licensed to do business in the state wherein the property subject to the policy is located. If a hazard policy becomes in danger of being terminated, or the insurer ceases to have the ratings noted above, the Servicer shall notify the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. Any In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time. Pursuant to Section 5.04, any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Customary Servicing PracticesProcedures, shall be deposited in the Custodial AccountCollection Account within two Business Days after receipt, subject to withdrawal pursuant in accordance with Section 5.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating remittances to Section 4.05the Purchaser, be added to the Unpaid Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be endorsed maintained with standard mortgagee clauses respect to such Mortgage Loan and the related development in a manner which is consistent with loss payable to the Seller Fxxxxx Mae or Fxxxxxx Mac requirements and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellationFHA or VA requirements, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedas applicable.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to Xxxxxx Mae or Xxxxxxx Mac against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to Xxxxxx Mae or Xxxxxxx Mac, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If required upon origination of the Mortgage Loan, the related Mortgaged Property was located in an area identified by the Flood Disaster Protection Act of 1973, Emergency Management Agency as amended, each Mortgage Loan shall be covered by having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, Xxxxxx Mae or Xxxxxxx Mac in an amount representing coverage not less than equal to the least lesser of (i) the outstanding principal minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the unpaid balance of the Mortgage Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with the applicable law and pursuant to the FNMA or FHLMC Guides Xxxxxx Mae Guide, that a the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than meeting the amount required by requirements of the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor they must obtain such flood insurance coverage, coverage and if said the Mortgagor fails to obtain the required flood insurance provide proof of such coverage within forty-five (45) days after of such notificationnotice, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Company shall also maintain verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Xxx requirements, and secure from the owner's association its agreement to notify the Company promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on each 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, and, Mortgaged Property as security. In the event that any Purchaser or the Company shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the extent terms of the Mortgage, the Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Company as loss payee and available under shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Flood Disaster Protection Act Mortgagor's freedom of 1973choice in selecting either his insurance carrier or agent, as amendedprovided, flood however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to Xxxxxx Mae and Xxxxxxx Mac and are licensed to do business in an amount as provided abovethe jurisdiction in which the Mortgaged Property is located. Any The Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. Pursuant to Section 4.04, any amounts collected by the Seller Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with Accepted Servicing Practices, the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Mae and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Xxx and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fxxxxx Mae or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fxxxxx Mxx or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Xxx or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Xxx or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the maximum insurable value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Mortgage Loan property on a replacement cost basis or (ii) the greater of (a) the outstanding principal balance Principal Balance of the Mortgage Loan, and (b) in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards and flood insurance has been made available, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO PropertyProperty for the benefit of the Certificateholders, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) 100% of the maximum insurable value of the improvements which are a part securing the Mortgage Loan and (ii) the outstanding Principal Balance of such propertythe Mortgage Loan at the time it became an REO Property, (y) public liability insurance and, (z) to the extent required and available under the National Flood Disaster Protection Insurance Act of 19731968, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 4.053.05. It is understood and agreed that no earthquake or other additional insurance need is required to be required maintained by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations 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 Seller and its successors and/or assigns Servicer and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount of or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating general policy rating of B:VI III or better in Best’s 's Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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 and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account a restricted escrow account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer’s normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to the FNMA or FHLMC Guides or such as provided for under applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide of B:III or better and are licensed to do business in the state wherein the property subject to the policy is located. All insurance policies maintained pursuant to this Section 4.10 shall be maintained with a Qualified Insurer.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan during the related Interim Servicing Period fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Xxx or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.04. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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 and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer’s normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to as provided in the FNMA or FHLMC Guides Xxxxxx Xxx Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide currently acceptable to Xxxxxx Mae and are licensed to do business in the state wherein the property subject to the policy is located. All insurance policies maintained pursuant to this Section 4.10 shall be maintained with a Qualified Insurer.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each First Lien Mortgage Loan fire and Loan, hazard insurance (with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located located) such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under the Xxxxxx Xxx Guides against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the Xxxxxx Mae Guides, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and Loan or (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required by the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amended, each Mortgage Loan is, and shall be continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, under the Xxxxxx Xxx Guides in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance aggregate Stated Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amendedamended (regardless of whether the area in which such Mortgaged Property is located is participating in such program), or (iii) the full replacement value of the improvements which are part of such Mortgaged Property. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Notwithstanding the foregoing, Servicer shall also have no liability to Owner or any third party for any penalties or fines imposed based on Servicer’s failure to timely notify the Director of FEMA and the flood insurance provider related to a servicing transfer if Servicer is not provided with flood insurance information; provided that, the Servicer shall have promptly provided Owner with notice of such missing flood insurance information. Notwithstanding the foregoing, the Servicer shall maintain on each REO Propertya blanket insurance policy in sufficient amounts to cover any uninsured loss due to any gap in Mortgagor provided coverage. If a First Lien Mortgage Loan is secured by a unit in a condominium project, fire and hazard insurance with extended the Servicer shall verify that the coverage in an amount which is at least equal to the maximum insurable value required of the improvements which are a part owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Mae requirements, and secure from the owner’s association its agreement to notify the Servicer promptly of such property, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall additional insurance as may be deposited in the Custodial Account, subject to withdrawal required pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Owner or the Servicer shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Servicer shall in accordance with the Xxxxxx Xxx Guides make commercially reasonable efforts to communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All such policies required hereunder shall name the Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or New York mortgagee clauses with loss payable to the Seller and its successors and/or assigns and which shall provide for at least thirty (30) 30 days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of BA:VI or better in under Best’s Key Rating Guide Guides, are acceptable under the Xxxxxx Mae Guides and are licensed to do business in the state wherein jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the Xxxxxx Xxx Guides, that they insure the property owner, and that they properly describe the property address. The Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 2.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to the FNMA or FHLMC Guides Fxxxxx Mxx Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s 's Key Rating Guide currently acceptable to Fxxxxx Mae and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Xxx or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.02(e). It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards and such flood insurance has been made available, as amended, each Mortgage Loan shall the Company will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each the REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Company’s normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller Company or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns Company and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI B+:III or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is Xxxxxxgxx Propxxxx xx located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less xxx xxss than the least xxx xxxst of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special spxxxxx flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations xxxxxaxxxns as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best's Key Rating Guide ("Best's") against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the maximum insurable replacement value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required the related Mortgaged Property is located in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973, Emergency Management Agency as amended, each Mortgage Loan shall be covered by having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, rated A:VI or better in Best's in an amount representing coverage not less than the least lesser of (i) the outstanding principal minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the unpaid balance of the Mortgage Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Xxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Company shall also maintain verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Mae requirements, and secure from the owner's association its agreement to notify the Company promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on each 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 Mortgaged Property as security. 44 The Company shall cause to be maintained on each Mortgaged Property earthquake or such propertyother or additional insurance as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, and, or pursuant to the extent requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that any Purchaser or the Company shall determine that the Mortgaged Property should be insured against loss or damage by hazards and available under risks not covered by the Flood Disaster Protection Act insurance required to be maintained by the Mortgagor pursuant to the terms of 1973the Mortgage, the Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Company as amendedloss payee and shall be endorsed with standard or union mortgagee clauses, flood without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in an amount as provided abovesufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Any Pursuant to Section 4.04, any amounts collected by the Seller Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with Accepted Servicing Practices, the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Xxxxxx Mae or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Xxxxxx Xxx or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Mortxxxxx Pxxxerty xx xxxated in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than xxxx xhan the least of xxxxx xf (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood speciax xxxxd hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as regxxxxxxnx xs shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fxxxxx Mxx or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fxxxxx Mae or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mae Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fxxxxx Mxx or Fxxxxxx Mac and customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (ia) the maximum full insurable value of the improvements securing such Mortgage Loan Mortgaged Property or (iib) the greater of (ai) the outstanding principal balance of owing on the Mortgage Loan, Loan and (bii) an amount such that the proceeds thereof of such insurance shall be sufficient to prevent avoid the application to the Mortgagor and/or or loss payee of any coinsurance clause under the Mortgagee from becoming a co-insurerpolicy. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973, Federal Emergency Management Agency as amended, each Mortgage Loan shall having special flood hazards (and such flood insurance has been made available) Seller will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines guide-lines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCa Qualified Insurer, in an amount representing coverage not less than the least of (ia) the outstanding out-standing principal balance of the Mortgage Loan, (iib) the maximum full insurable value of the improvements securing such Mortgage Loan Mortgaged Property, or (iiic) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each REO Propertyproperty acquired upon foreclos-ure, or by deed in lieu of fore-closure, of any Mortgage Loan, 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 insur-ance and, to the extent required and available under the Flood Disaster Protection Act of 1973, each as amended, flood insurance in an amount as provided required above. Any amounts collected by the Seller under any such policies (other than amounts to be deposited depos-ited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Propertyproperty acquired in liquida-tion of the Mortgage Loan, or to be released to the Mortgagor in accordance with Accepted Customary Servicing Practices, Procedures) shall be deposited depos-ited in the Custodial Account, subject to withdrawal with-drawal pursuant to Section 4.0510.10. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller or the of any Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal appli-cable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns assigns, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance Outstanding Principal Balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance Outstanding Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.02(e). It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days days’ prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA XXXXXX MAE and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA XXXXXX XXX and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC XXXXXX MAE Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC XXXXXX XXX Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to the FNMA or FHLMC Guides Xxxxxx Mae Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s 's Key Rating Guide currently acceptable to Xxxxxx Xxx and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. In the event a hazard insurance policy shall be terminated, or in the event the insurer shall cease to be acceptable to FNMA or FHLMC, the Seller shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. If a Mortgage is secured by a unit in a condominium project, the Seller shall verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current FNMA requirements, and secure from the owner's association its agreement to notify the Seller promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. In the event that the Purchaser shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Seller shall, at the Purchaser's request, communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Xxxxxx Xxx or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Xxxxxx Mae or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Xxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Mae Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located by an insurer rated A by Demotech or A- or better by the most current Best Key Guide (or comparable rating with A.M. Best Company in the event Best Key Guide changes its rating scale, or a comparable rating with a comparable service in the event A.M. Best Company is no longer providing ratings), in an amount which is at least equal to the lesser of (ia) the maximum full insurable value of the improvements securing such Mortgage Loan Mortgaged Property, as determined by the last known coverage amount, or (iib) the greater of (ai) the outstanding principal balance of owing on the Mortgage Loan, Loan and (bii) an amount such that the proceeds thereof of such insurance shall be sufficient to prevent avoid the application to the Mortgagor and/or or loss payee of any coinsurance clause under the Mortgagee from becoming a co-insurerpolicy. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973, Federal Emergency Management Agency as amended, each Mortgage Loan shall a special flood hazard area (and such flood insurance has been made available) the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal National Flood Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCProgram, in an amount representing coverage not less than the least lesser of (iA) the minimum amount required under the terms of the coverage to compensate for any damage or loss to the Mortgaged Property on a replacement-cost basis (or the outstanding principal balance of the Mortgage Loan, (iiLoan if replacement-cost basis is not available) the maximum insurable value of the improvements securing such Mortgage Loan or (iiiB) the maximum amount of insurance which is available under the National Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalfInsurance Program. The Seller Servicer shall also maintain on each REO Property, 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 and available under the National Flood Disaster Protection Act of 1973, as amendedInsurance Program, flood insurance in an amount as provided required above. Any amounts collected by the Seller Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property property subject to the related Mortgage or REO Propertyproperty acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor in accordance with Accepted Customary Servicing Practices, Procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05Subsection 11.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller or the Servicer of any Mortgagor or maintained on property acquired in respect of the Mortgage Loan, REO Property other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns Servicer, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his its insurance carrier or agent, ; provided, however, that unless otherwise required by the Seller terms of the related Mortgage Note or applicable law, the Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better acceptable in Best’s Key Rating Guide accordance with Customary Servicing Procedures and are licensed to do business in the state wherein the property subject to the policy is located. The hazard insurance policies for each Mortgage Loan secured by a unit in a condominium development or planned unit development shall be maintained with respect to such Mortgage Loan and the related development in a manner which is consistent with Fxxxxx Mxx or Fxxxxxx Mac requirements and FHA or VA requirements, as applicable unless otherwise required by the terms of the related Mortgage Note or applicable law.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Xxx and FHLMC Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMCXxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides Accepted Servicing Practices that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor Servicer or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides this Agreement, Accepted Servicing Practices or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Xxx and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides Xxxxxx Xxx Guide that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides Xxxxxx Mae Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Moxxxxxxd Properxx xx xocated in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less nox xxxx than the least thx xxxxx of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood specxxx xxood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations rxxxxxxixxx as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Xxxxxx Mae or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Xxxxxx Xxx or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Xxx and FHLMC Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMCXxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor Servicer or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each First Lien Mortgage Loan fire and Loan, hazard insurance (with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located located) such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under the Xxxxxx Xxx Guides against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the Xxxxxx Mae Guides, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and Loan or (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required by the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amended, each Mortgage Loan is, and shall be continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, under the Xxxxxx Xxx Guides in an amount representing coverage not less than the least lesser of (i) the outstanding aggregate unpaid principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amendedamended (regardless of whether the area in which such Mortgaged Property is located is participating in such program), or (iii) the full replacement value of the improvements which are part of such Mortgaged Property. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Notwithstanding the foregoing, Servicer shall also have no liability to Owner or any third party for any penalties or fines imposed based on Servicer’s failure to timely notify the Director of FEMA and the flood insurance provider related to a servicing transfer if Servicer is not provided with flood insurance information; provided that, the Servicer shall have promptly provided Owner with notice of such missing flood insurance information. Notwithstanding the foregoing, the Servicer shall maintain on each REO Propertya blanket insurance policy in sufficient amounts to cover any uninsured loss due to any gap in Mortgagor provided coverage. If a First Lien Mortgage Loan is secured by a unit in a condominium project, fire and hazard insurance with extended the Servicer shall verify that the coverage in an amount which is at least equal to the maximum insurable value required of the improvements which are a part homeowners’ association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Mae requirements, and secure from the homeowners’ association its agreement to notify the Servicer promptly of such property, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall additional insurance as may be deposited in the Custodial Account, subject to withdrawal required pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Owner or the Servicer shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Servicer shall in accordance with the Xxxxxx Xxx Guides make commercially reasonable efforts to communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All such policies required hereunder shall name the Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or New York mortgagee clauses with loss payable to the Seller and its successors and/or assigns and which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of BA:VI or better in under Best’s Key Rating Guide Guides, are acceptable under the Xxxxxx Mae Guides and are licensed to do business in the state wherein jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the Xxxxxx Xxx Guides, that they insure the property owner, and that they properly describe the property address. The Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 2.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fxxxxx Mxx or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fxxxxx Mxx or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan during the related Interim Servicing Period fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is Xxxxxxgxx Propxxxx xx located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less xxx xxss than the least xxx xxxst of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special spxxxxx flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.04. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations xxxxxaxxxns as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan during the related Interim Servicing Period fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Mortgxxxx Xrxxxrty xx xxxxted in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than lxxx xxan the least of lxxxx xx (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood xxxxx hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.04. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as reguxxxxxxs xx shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Xxxxxx Mae or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Xxxxxx Xxx or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fxxxxx Mxx or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fxxxxx Mae or FHLMC, in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mae Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the maximum insurable value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Mortgage Loan property on a replacement cost basis or (ii) the greater of (a) the outstanding principal balance Principal Balance of the Mortgage Loan, and (b) in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards and flood insurance has been made available, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO PropertyProperties for the benefit of the Certificateholders, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) 100% of the maximum insurable value of the improvements which are a part securing the Mortgage Loan and (ii) the outstanding Principal Balance of such propertythe Mortgage Loan at the time it became an REO Property, (y) public liability insurance and, (z) to the extent required and available under the National Flood Disaster Protection Insurance Act of 19731968, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Trust Collection Account, subject to withdrawal pursuant to Section 4.053.05(a). It is understood and agreed that no earthquake or other additional insurance need is required to be required maintained by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations 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 Seller and its successors and/or assigns Servicer and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount of or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating general policy rating of B:VI A:X or better in Best’s 's Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is such that all buildings upon the Mortgaged Property are insured by an insurer acceptable to FNMA or FHLMC against loss by fire, hazards of extended coverage and FHLMC and such other hazards as are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. In the event a hazard insurance policy shall be in danger of being terminated, or in the event the insurer shall cease to be acceptable to FNMA or FHLMC, the Company shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If required upon origination of the Mortgage Loan, the related Mortgaged Property was located in an area identified by the Flood Disaster Protection Act of 1973, Emergency Management Agency as amended, each Mortgage Loan shall be covered by having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, or FHLMC in an amount representing coverage not less than equal to the least lesser of (i) the outstanding principal minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the unpaid balance of the Mortgage Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with the applicable law and pursuant to the FNMA or FHLMC Guides guide, that a the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than meeting the amount required by requirements of the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor they must obtain such flood insurance coverage, coverage and if said the Mortgagor fails to obtain the required flood insurance provide proof of such coverage within forty-five (45) days after of such notificationnotice, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Company shall also maintain verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current FNMA requirements, and secure from the owner's association its agreement to notify the Company promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on each 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, and, Mortgaged Property as security. In the event that any Purchaser or the Company shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the extent terms of the Mortgage, the Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Company as loss payee and available under shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Flood Disaster Protection Act Mortgagor's freedom of 1973choice in selecting either his insurance carrier or agent, as amendedprovided, flood however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are acceptable to FNMA and FHLMC and are licensed to do business in an amount as provided abovethe jurisdiction in which the Mortgaged Property is located. Any The Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. Pursuant to Section 4.04, any amounts collected by the Seller Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with Accepted Servicing Practices, the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and Loan, hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where such that all buildings upon the Mortgaged Property is located are insured by a generally acceptable insurer against loss by fire and hazards of extended coverage, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the related Mortgage Loan, Loan and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Seller shall immediately force place purchase the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain cause to be maintained on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property such other or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall additional insurance as may be deposited in the Custodial Account, subject to withdrawal required pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any applicable primary mortgage guaranty insurer. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to name the Seller and its successors and/or and assigns as mortgagee and shall be endorsed with non-contributory standard mortgagee clauses which shall provide for at least thirty (30) days days' prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of Brated A:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the state wherein jurisdiction in which the Mortgaged Property is located. The Seller shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. To the extent reasonably possible, the Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Seller, the Seller shall ensure that replacement insurance policies are in place in the required coverages and the Seller shall be solely liable to the Purchaser only for any losses in the event such coverage is not provided. Pursuant to Section 2.04, any amounts collected by the Seller under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Seller's normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. In the event a hazard insurance policy shall be terminated, or in the event the insurer shall cease to be acceptable to FNMA or FHLMC, the Seller shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. If a Mortgage is secured by a unit in a condominium project, the Seller shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current FNMA requirements, and secure from the owner’s association its agreement to notify the Seller promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security. In the event that the Purchaser shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Seller shall, at the Purchaser’s request, communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fxxxxx Mae or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fxxxxx Mxx or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the maximum insurable value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Mortgage Loan property on a replacement cost basis or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan (including any cumulative related Negative Amortization) plus with respect to any second lien Mortgage Loan, and the outstanding principal balance of the related first lien mortgage loan (b) including any cumulative related Negative Amortization), in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified on a Flood Hazard Boundary Map or Flood Insurance Rate Map issued by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards and such flood insurance has been made available, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the Mortgage LoanLoan (plus, if the Mortgage Loan provides for negative amortization, the maximum amount of Negative Amortization in accordance with the Mortgage)or (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller The Servicer also shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each any REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements which are a part of such propertyproperty and (ii) the outstanding principal balance of the related Mortgage Loan (including any cumulative related Negative Amortization) at the time it became an REO Property plus accrued interest at the Mortgage Interest Rate and related Servicing Advances, liability insurance and, to the extent required and available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any Pursuant to Subsection 11.04, any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer’s normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05Subsection 11.05. Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating distributions to the Purchaser, be added to the unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns Servicer, or upon request to the Purchaser, and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount of, or material change in in, coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of BA:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller (a) Except in the case of Cooperative Loans, the Master Servicer shall cause to be maintained maintained, for each Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a FNMA or FHLMC acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located located, in an amount which that is at least equal to the lesser of (i) the maximum insurable replacement value of the improvements securing such Mortgage Loan or (ii) the greater of (ay) the outstanding principal balance of the Mortgage Loan, Loan and (bz) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required upon origination of the Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Flood Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than equal to the least lesser of (i) the outstanding principal minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement-cost basis or the unpaid balance of the Mortgage Loan, Loan (if replacement coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the a Mortgage Loanis secured by a unit in a condominium, the Seller determines Master Servicer shall have received a certificate of insurance evidencing a master policy held by the owner's association and naming the Master Servicer as loss payee. All policies required hereunder shall name the Master Servicer as loss payee and shall be endorsed with standard mortgage clauses, which shall provide for at least 30 days' prior written notice of any cancellation, reduction in accordance amount or material change in coverage. The Master Servicer shall not interfere with applicable law and pursuant to the Mortgagor's freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Master Servicer shall not accept any such insurance policies from insurance companies unless such companies satisfy the requirements of FNMA or FHLMC Guides that a and are licensed to do business in the jurisdiction in which the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided abovelocated. Any amounts collected by the Seller Master Servicer under any such policies (other than the amounts to be deposited in the Escrow Account and to be applied to the restoration or repair of the related Mortgaged Property Property) (or, in the case of a Cooperative Loan, the related Cooperative Unit) or REO Propertyproperty acquired in liquidation of the Mortgage Loan, or amounts released to the Mortgagor in accordance with Accepted Servicing Practices, the Master Servicer's normal servicing procedures) shall be deposited in the Custodial Certificate Account. Any cost incurred by the Master Servicer 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 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 4.053.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Seller or the of any Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that the Master Servicer shall maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on any or all of the Mortgage Loans and, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). All Any amounts collected by the Master Servicer under any such policies policy relating to a Mortgage Loan shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction deposited in the amount or material change Certificate Account. Such policy may contain a deductible clause, in coverage to which case, in the Seller. The Seller event that there shall not interfere with have been maintained on the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect related Mortgaged Property 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.complying

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Moxxxxxxd Xxoperxx xx xocated in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than the least nox xxxx xxxn thx xxxxx of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood specxxx xxood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations rxxxxxxixxx as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the maximum insurable value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Mortgage Loan property on a replacement cost basis or (ii) the greater of (a) the outstanding principal balance Principal Balance of the Mortgage Loan, and (b) in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards and flood insurance has been made available, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCa Qualified Insurer, in an amount representing coverage not less than the least of (i) the outstanding principal balance Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO PropertyProperties for the benefit of the Certificateholders, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) 100% of the maximum insurable value of the improvements which are a part securing the Mortgage Loan and (ii) the outstanding Principal Balance of such propertythe Mortgage Loan at the time it became an REO Property, and, (y) public liability insurance and (z) to the extent required and available under the National Flood Disaster Protection Insurance Act of 19731968, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 4.053.05. It is understood and agreed that no earthquake or other additional insurance need is required to be required maintained by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations 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 Seller and its successors and/or assigns Servicer and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount of or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating general policy rating of B:VI III or better in Best’s 's Key Rating Guide Guide, are Qualified Insurers and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fannie Mae or FHLMC and customary xxx xxstomary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fannie Mae or FHLMC, in an amount xx xx xxxunt representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged thxx x Xortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company. shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable xxxx axxxicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each First Lien Mortgage Loan fire and Loan, hazard insurance (with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located located) such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under the Xxxxxx Xxx Guides against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the Xxxxxx Mae Guides, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and Loan or (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-co- insurer. If required by the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amended, each Mortgage Loan is, and shall be continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, under the Xxxxxx Xxx Guides in an amount representing coverage not less than the least lesser of (i) the outstanding aggregate unpaid principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amendedamended (regardless of whether the area in which such Mortgaged Property is located is participating in such program), or (iii) the full replacement value of the improvements which are part of such Mortgaged Property. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the National Flood Insurance Act of 1968 or Flood Disaster Protection Prevention Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Notwithstanding the foregoing, Servicer shall also have no liability to Owner or any third party for any penalties or fines imposed based on Servicer’s failure to timely notify the Director of FEMA and the flood insurance provider related to a servicing transfer if Servicer is not provided with flood insurance information; provided that, the Servicer shall have promptly provided Owner with notice of such missing flood insurance information. Notwithstanding the foregoing, the Servicer shall maintain on each REO Propertya blanket insurance policy in sufficient amounts to cover any uninsured loss due to any gap in Mortgagor provided coverage. If a First Lien Mortgage Loan is secured by a unit in a condominium project, fire and hazard insurance with extended the Servicer shall verify that the coverage in an amount which is at least equal to the maximum insurable value required of the improvements which are a part homeowners’ association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Xxxxxx Mae requirements, and secure from the homeowners’ association its agreement to notify the Servicer promptly of such property, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited change in the Escrow Account and applied to insurance coverage or of any condemnation or casualty loss that may have a material effect on the restoration or repair value of the Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such other or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall additional insurance as may be deposited in the Custodial Account, subject to withdrawal required pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Owner or the Servicer shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Servicer shall in accordance with the Xxxxxx Xxx Guides make commercially reasonable efforts to communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property. All such policies required hereunder shall name the Servicer and its successors and assigns as a mortgagee and loss payee and shall be endorsed with non contributory standard or New York mortgagee clauses with loss payable to the Seller and its successors and/or assigns and which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of BA:VI or better in under Best’s Key Rating Guide Guides, are acceptable under the Xxxxxx Mae Guides and are licensed to do business in the state wherein jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the Xxxxxx Xxx Guides, that they insure the property owner, and that they properly describe the property address. The Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event coverage is not provided. Pursuant to Section 2.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Seller Each Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Mae and FHLMC Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMCXxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller applicable Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller applicable Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Each Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller applicable Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller applicable Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller applicable Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellerapplicable Servicer. The Seller Neither Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller applicable Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Fannie Mae and FHLMC Freddie Mac and customary in the area where the Mortgaged Property Mortgagex Xxxxexxx is located lxxxxxx in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Fannie Mae and/or FHLMCFreddie Mac, in an amount representing coverage not less than lxxx xxan the least of xx (ix) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard floxx xxxard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor Servicer or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as regulatixxx xx shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Xxxxxx Xxx or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Xxxxxx Mae or FHLMC, in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Xxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Mae Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan during the related Interim Servicing Period fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Morxxxxxx Xxxpertx xx xxcated in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less xxxx than the least xxxxx of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood specixx xxxod hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.04. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations rexxxxxxoxx as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and Loan, hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where such that all buildings upon the Mortgaged Property is located are insured by a generally acceptable insurer rated A:VI or better in the current Best’s against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the FNMA Guide or by the FHLMC, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, rated A:VI or better in Best’s in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the related Mortgage Loan, Loan and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Servicer shall also maintain on each REO Property, fire and hazard insurance with extended verify that the coverage in an amount which is at least equal to the maximum insurable value required of the improvements which are a part of such propertyowner’s association, andincluding hazard, to the extent required flood, liability, and available under the Flood Disaster Protection Act of 1973fidelity coverage, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor is being maintained in accordance with Accepted Servicing Practices, then current FNMA requirements. The Servicer shall cause to be deposited in the Custodial Account, subject to withdrawal maintained on each Mortgaged Property such other or additional insurance as may be required pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any primary mortgage guaranty insurer. All such policies required hereunder shall name the Servicer and its successors and assigns as mortgagee and shall be endorsed with non-contributory standard or Ohio mortgagee clauses with loss payable to the Seller and its successors and/or assigns and which shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of Brated A:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the FNMA Guides, that they insure the property owner, and that they properly describe the property address. The Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event such coverage is not provided. Pursuant to Section 2.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Servicer’s normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Mortgxxxx Xrxxxrty xx xxxxted in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than lxxx xxan the least of lxxxx xx (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood xxxxx hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as reguxxxxxxs xx shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 19731973 or the National Flood Insurance Act of 1968, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 19731973 or the National Flood Insurance Act of 1968, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 19731973 or the National Flood Insurance Act of 1968, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 19731973 or the National Flood Insurance Act of 1968, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Xxxxxx Xxx or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Xxxxxx Mae or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Xxx Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Mae Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer acceptable under Fanxxx Xxe xx Frexxxx Xxc guidelines against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the maximum insurable replacement value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required upon origination of the Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, Fanxxx Xxe or Frexxxx Xxc in an amount representing coverage not less than equal to the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which that is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, Loan the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Frexxxx Xxc Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) 45 days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller If a Mortgage Loan is secured by a unit in a condominium project, the Servicer shall also maintain on each REO Property, fire and hazard insurance with extended verify that the coverage in an amount which is at least equal to the maximum insurable value required of the improvements which are a part of such propertyowner’s association, andincluding hazard, to the extent required flood, liability and available under the Flood Disaster Protection Act of 1973fidelity coverage, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor is being maintained in accordance with Accepted Servicing Practiceswith, shall be deposited in at a minimum, the Custodial Account, subject to withdrawal pursuant to Section 4.05then-current Frexxxx Xxc requirements. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor Servicer or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Frexxxx Xxc Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall name the Servicer and its successors and/or assigns as loss payee and shall be endorsed with standard or union mortgagee clauses with loss payable to the Seller and its successors and/or assigns and clauses, without contribution, which shall provide for at least thirty (30) 30 days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers Insurers. The Servicer shall determine that such policies provide sufficient risk coverage and currently reflect amounts, that they insure the property owner, and that they properly describe the property address. The Servicer shall furnish to the Mortgagor a General Policy Rating formal notice of B:VI or better expiration of any such insurance in Best’s Key Rating Guide and are licensed sufficient time for the Mortgagor to do business arrange for renewal coverage by the expiration date. Pursuant to Section 3.04, any amounts collected by the Servicer under any such policies (other than amounts to be deposited in the state wherein Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with Accepted Servicing Practices) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.05. Notwithstanding anything set forth in the policy is locatedpreceding paragraph, the Servicer agrees to indemnify the Trustee, the Certificateholders, the Master Servicer and the Trust Fund for any claims, losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and any other costs, fees and expenses that any such indemnified party may sustain in any way related to the failure of the Mortgagor (or the Servicer) to maintain hazard insurance or flood insurance with respect to the related Mortgaged Property which complies with the requirements of this section.

Maintenance of Hazard Insurance. The Seller Interim Servicer shall cause to be maintained for each Mortgage Loan fire and First Lien Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by an insurer having a general policy rating of "B" or better in the current Best's Key Rating Guide ("Best's"), or such other rating that is comparable to such rating, against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located in an amount which is equal that conforms to the lesser requirements of (i) the maximum insurable value of the improvements securing such Mortgage Loan Fannie Mae or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurerFreddie Mac. If required by the Flood Disaster Protection National Floxx Xxxuxxxce Act of 19731968, as amended, each Mortgage First Lien Loan is, and shall be continue to be, covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration as in effect with an insurance carrier acceptable insurer having a general policy rating of "B" or better in Best's, or such other rating that is comparable to FNMA and/or FHLMCsuch rating, in an amount representing coverage not less than the least lesser of (i) the outstanding aggregate unpaid principal balance of the Mortgage related First Lien Loan and of any mortgage loan senior to such First Lien Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amendedamended (regardless of whether the area in which such Mortgaged Property is located is participating in such program), and (iii) the full replacement value of the improvements which are part of such Mortgaged Property. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the National Flood Disaster Protection Insurance Act of 19731968, as amended, the Seller Interim Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five sixty (4560) days after such notification, the Seller Interim Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Interim Servicer shall also maintain verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with the related Underwriting Guidelines and Accepted Servicing Practices, and secure from the owner's association its agreement to notify the Interim Servicer promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on each 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 Mortgaged Property as security. The Interim Servicer shall cause to be maintained on each Mortgaged Property such propertyother or additional insurance as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, and, or pursuant to the extent requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that the Purchaser or the Interim Servicer shall determine that the Mortgaged Property should be insured against loss or damage by hazards and available under risks not covered by the Flood Disaster Protection Act insurance required to be maintained by the Mortgagor pursuant to the terms of 1973the Mortgage, the Interim Servicer shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Interim Servicer and its successors and assigns as amendeda mortgagee and loss payee and shall be endorsed with non contributory standard or New York mortgagee clauses which shall provide for at least 30 days prior written notice of any cancellation, flood reduction in amount or material change in coverage. The Interim Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Interim Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Interim Servicer shall determine that such policies provide sufficient risk coverage and amounts as required according to the related Underwriting Guidelines and Accepted Servicing Practices, that they insure the property owner and that they properly describe the property address. The Interim Servicer shall furnish to the Mortgagor a formal notice of expiration of any such insurance in an amount as provided abovesufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Interim Servicer, the Interim Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Interim Servicer shall be solely liable for any losses in the event coverage is not provided. Any Pursuant to Section 2.04, any amounts collected by the Seller Interim Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the First Lien Loan, or to be released to the Mortgagor Mortgagor, in accordance with Accepted Servicing Practices, the Interim Servicer's normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 4.052.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in With respect of the Mortgage to each Second Lien Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws Interim Servicer shall obtain and regulations as shall at any time be maintain the blanket hazard insurance policy described in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedSection 2.11.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan during the related Interim Servicing Period fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is Mxxxxxxex Xropexxx xx located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less nxx xxxs than the least txx xxxxt of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood spexxxx xlood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.04. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations xxxxxxtxxxs as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Mortxxxxx Pxxxerty xx xxxated in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than xxxx xhxx the least of xxxxx xf (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood speciax xxxxd hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as regxxxxxxnx xs shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fanxxx Xxe xx FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fanxxx Xxe or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides Fanxxx Xxe Xxides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Company of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fanxxx Xxe Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Fanxxx Xxe xx FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Fanxxx Xxe xx FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides Fanxxx Xxe Xxides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides Fanxxx Xxe Xxides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Xxx or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value 100% of the replacement cost of all improvements securing such Mortgage Loan or to the Mortgaged Property and (ii) the greater of (a) either (X) the outstanding principal balance of the Mortgage Loan with respect to each first lien Mortgage Loan or (Y) with respect to each Second Lien Mortgage Loan, the sum of the outstanding principal balance of the related first lien mortgage loan and the outstanding principal balance of the Second Lien Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause the Servicer to cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fxxxxx Mae or Fxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFxxxxx Mae or Fxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall cause the Servicer to notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall cause the Servicer to immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall cause the Servicer to also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance Outstanding Principal Balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance Outstanding Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to 217412 HomeBanc 2007-1 Pooling and Servicing Agreement the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.02(e). It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days days’ prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Company will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Company shall also maintain on each the REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Company under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Company's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Company or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to the FNMA or FHLMC Guides Xxxxxx Xxx Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Company and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount N-3-39 or material change in coverage to the SellerCompany. The Seller Company shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Company shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s 's Key Rating Guide currently acceptable to Xxxxxx Mae and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller (a) Except in the case of Cooperative Loans, the Master Servicer shall cause to be maintained maintained, for each Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a FNMA or FHLMC acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located located, in an amount which that is at least equal to the lesser of (i) the maximum insurable replacement value of the improvements securing such Mortgage Loan or (ii) the greater of (ay) the outstanding principal balance of the Mortgage Loan, Loan and (bz) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required upon origination of the Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Flood Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than equal to the least lesser of (i) the outstanding principal minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement-cost basis or the unpaid balance of the Mortgage Loan, Loan (if replacement coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the a Mortgage Loanis secured by a unit in a condominium, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that Master Servicer shall have received a Mortgaged Property is located in certificate of insurance evidencing a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required master policy held by the Flood Disaster Protection Act of 1973, owner's association and naming the Master Servicer as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insuranceloss payee. All such policies required hereunder shall name the Master Servicer as loss payee and shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and mortgage clauses, which shall provide for at least thirty (30) days 30 days' prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller Master Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, ; provided, however, that the Seller Master Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating satisfy the requirements of B:VI FNMA or better in Best’s Key Rating Guide FHLMC and are licensed to do business in the state wherein jurisdiction in which the property subject to the policy Mortgaged Property is located.. Any amounts collected by the Master Servicer under any such policies (other than the amounts to be deposited in the Escrow Account

Maintenance of Hazard Insurance. The Seller (a) Except in the case of Cooperative Loans, the Master Servicer shall cause to be maintained maintained, for each Mortgage Loan fire and Loan, hazard insurance with such that all buildings upon the Mortgaged Property are insured by a FNMA or FHLMC acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located located, in an amount which that is at least equal to the lesser of (i) the maximum insurable replacement value of the improvements securing such Mortgage Loan or (ii) the greater of (ay) the outstanding principal balance of the Mortgage Loan, Loan and (bz) an amount such that the proceeds thereof of such policy shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required upon origination of the Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Flood Insurance Administration is in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than equal to the least lesser of (i) the outstanding principal minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement-cost basis or the unpaid balance of the Mortgage Loan, Loan (if replacement coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the a Mortgage Loanis secured by a unit in a condominium, the Seller determines Master Servicer shall have received a certificate of insurance evidencing a master policy held by the owner’s association and naming the Master Servicer as loss payee. All policies required hereunder shall name the Master Servicer as loss payee and shall be endorsed with standard mortgage clauses, which shall provide for at least 30 days’ prior written notice of any cancellation, reduction in accordance amount or material change in coverage. The Master Servicer shall not interfere with applicable law and pursuant to the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent; provided, however, that the Master Servicer shall not accept any such insurance policies from insurance companies unless such companies satisfy the requirements of FNMA or FHLMC Guides that a and are licensed to do business in the jurisdiction in which the Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided abovelocated. Any amounts collected by the Seller Master Servicer under any such policies (other than the amounts to be deposited in the Escrow Account and to be applied to the restoration or repair of the related Mortgaged Property Property) (or, in the case of a Cooperative Loan, the related Cooperative Unit) or REO Propertyproperty acquired in liquidation of the Mortgage Loan, or amounts released to the Mortgagor in accordance with Accepted Servicing Practices, the Master Servicer’s normal servicing procedures) shall be deposited in the Custodial Certificate Account. Any cost incurred by the Master Servicer 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 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 4.053.08 hereof. It is understood and agreed that no earthquake or other additional insurance need is to be required by the Seller or the of any Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. (b) In the event that the Master Servicer shall maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on any or all of the Mortgage Loans and, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.09(a) and otherwise complies with all other requirements of Section 3.09(a), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.09(a). All Any amounts collected by the Master Servicer under any such policies policy relating to a Mortgage Loan shall be endorsed deposited in the Certificate Account. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with standard mortgagee clauses with Section 3.09(a), and there shall have been a loss payable which would have been covered by such policy, the Master Servicer shall deposit in the Certificate Account at the time of such loss the amount not otherwise deposited from the Master Servicer’s funds, without reimbursement therefor. Upon request of the Depositor or the Trustee, the Master Servicer shall cause to be delivered to the Seller Depositor or the Trustee, as applicable, a certified true copy of such policy and its successors and/or assigns and a statement from the insurer thereunder that such policy shall provide for at least in no event be terminated or materially modified without thirty (30) days days’ prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerDepositor and the Trustee. The Seller shall not interfere In connection with its activities as Master Servicer of the Mortgagor’s freedom Mortgage Loans, the Master Servicer agrees to present, on behalf of choice in selecting either his insurance carrier or agentitself, providedthe Depositor, howeverand the Trustee for the benefit of the Certificateholders, that the Seller shall not accept claims under any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedblanket policy.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and Xxxxxx Mae or FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or Xxxxxx Xxx or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and Loan, hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where such that all buildings upon the Mortgaged Property is located are insured by a generally acceptable insurer rated A:VI or better in the current Best's against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the FNMA Guides or the FHLMC Guide, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-co- insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, rated A:VI or better in Best's in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the related Mortgage Loan, Loan and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Seller Servicer shall immediately force place purchase the required flood insurance on the Mortgagor’s 's behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Servicer shall also maintain verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current FNMA 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 each 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 Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such propertyother or additional insurance as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, and, or pursuant to the requirements of any primary mortgage guaranty insurer. All policies required hereunder shall name the Servicer and its successors and assigns as mortgagee and shall be endorsed with non-contributory standard Michigan mortgagee clauses which shall provide for at least thirty (30) days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the FNMA Guides or the FHLMC Guide, that they insure the property owner, and that they properly describe the property address. To the extent required and available under reasonably possible the Flood Disaster Protection Act Servicer shall furnish to the Mortgagor a formal notice of 1973, as amended, flood expiration of any such insurance in an amount as provided abovesufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event such coverage is not provided. Any Pursuant to Section 2.04, any amounts collected by the Seller Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with Accepted Servicing Practices, the Servicer's normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located2.05.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to the FNMA or FHLMC Guides Fannie Mae Guide or such applicable state or federal laws and regulations regulxxxxxx as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s 's Key Rating Guide currently acceptable to Fannie Mae and are licensed to do business in the state wherein the property xxxxxrxx subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Mae or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster 201359 HomeBanc 2006-2 Transfer and Servicing Agreement Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.02(e). It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall 'notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required requited by the Seller or of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Moxxxxxxd Xxoperxx xx xocated in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less nox xxxx than the least thx xxxxx of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood specxxx xxood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations rxxxxxxixxx as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan Loan, fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located located, in an amount which is is, subject to applicable law, at least equal to the lesser of (i) the maximum insurable value of the improvements securing such the related Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an the minimum amount such that the proceeds thereof shall be sufficient necessary to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973, Federal Emergency Management Agency as amended, each Mortgage Loan shall having special flood hazards (and such flood insurance has been made available) the Seller will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines guide-lines of the Federal Insurance Administration in effect with an a gener-ally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding out-standing principal balance of the Mortgage Loan, (ii) the maximum full insurable value of the improvements securing such Mortgage Loan Mortgaged Property, or (iii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, each as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each any 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 insur-ance and, to the extent required and available under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, each as amended, flood insurance in an amount as provided required above. Any amounts collected by the Seller under any such policies (other than amounts to be deposited depos-ited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or Property, REO Property, or released to the Mortgagor in accordance with Accepted Customary Servicing Practices, Procedures or in accordance with the terms of the Mortgage Loan or applicable law) shall be deposited depos-ited in the Custodial Account, subject to withdrawal with-drawal pursuant to Section 4.05. It is understood and agreed that no earthquake or other additional insurance need be required by the Seller or the of any Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal appli-cable laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Seller Seller, its successors and its successors and/or assigns assigns, or, upon request of the Purchaser, to the Purchaser, and shall provide for at least thirty (30) 30 days prior written notice to the Seller of any cancellation, reduction in the amount or material change in coverage to the Sellercancellation thereof. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier accept or agent, provided, however, that the Seller shall not accept obtain any such insurance policies insur-ance policy from insurance companies unless such companies are Qualified Insurers and currently reflect an insur-ance company that does not at that time maintain a General Policy Rating of B:VI -III or better in Best’s 's Key Rating Guide and are Guide, or that is not licensed to do business in the state State wherein the property subject to the policy related Mortgaged Property is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Xxx and FHLMC Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMCXxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect Insurers. [If the related Mortgage is secured by a General Policy Rating condominium, the Seller will verify that the insurance coverage meets the requirements 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 locatedrelated condominium association.]

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. In the event a hazard insurance policy shall be terminated, or in the event the insurer shall cease to be acceptable to FNMA or FHLMC, the Seller shall notify the Purchaser and the related Mortgagor, and shall use its best efforts, as permitted by applicable law, to obtain from another qualified insurer a replacement hazard insurance policy substantially and materially similar in all respects to the original policy. In no event, however, shall a Mortgage Loan be without a hazard insurance policy at any time, subject only to Section 4.11 hereof. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. (a) The Seller Servicer shall cause to be maintained for each Mortgage Loan serviced by it fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the related Mortgaged Property is located located, in an amount which that is at least equal to the lesser of (i) 100% of the maximum insurable replacement value of the improvements securing such the Mortgage Loan Loan, or (ii) the greater of (a) the outstanding principal balance Unpaid Principal Balance of the Mortgage Loan, and Loan (b) an so long as it equals 80% of the insurable value of the improvements); provided that in any case such amount such that the proceeds thereof shall be sufficient to prevent either the Mortgagor and/or or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area that, at the time of origination of the related Mortgage Loan or at any time thereafter during the life of such Mortgage Loan, is identified on a flood hazard boundary map or flood insurance rate map issued by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as having special flood hazards (and such flood insurance was then or is then available), as amended, each Mortgage Loan the Servicer shall cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, if such insurance is available. Such flood insurance shall be in an amount representing coverage not less than the least of (i) the outstanding principal balance Unpaid Principal Balance of the Mortgage Loan, (ii) the maximum full insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, each as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each REO Property, Property (x) fire and hazard insurance with extended coverage in an amount which that is at least equal to the maximum insurable value of the improvements which that are a part of such property, and, (y) liability insurance and (z) to the extent required and available under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, each as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to shall be deposited paid over or applied by the Servicer in the Escrow Account and applied to accordance with Applicable Requirements whether (i) for the restoration or repair of the Mortgaged Property or REO Property, or released subject to the Mortgagor related Mortgage, (ii) for release to the Mortgagor, or (iii) for application in accordance with Accepted Servicing Practicesreduction of the Mortgage Loan, in which event such amounts shall be deposited in the Custodial Account, subject to withdrawal pursuant to as provided in Section 4.052.4. It is understood and agreed that no earthquake or other additional insurance need be required maintained by the Seller Servicer on any Mortgage Loan or the Mortgagor or maintained on property acquired in respect of the a Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such as required under applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insuranceforce. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns Servicer and shall provide for at least thirty (30) days prior written notice to the Servicer of any cancellation, reduction in the amount amount, or material change in coverage to the Sellercoverage. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his the Mortgagor’s insurance carrier or agent, agent upon any policy renewal; provided, however, that upon any such policy renewal, the Seller Servicer shall not accept any such insurance policies only from insurance companies unless such companies are Qualified Insurers and currently reflect that (A) have a General Policy Rating rating of B:VI III or better in Best’s Key Rating Guide or a financial performance index rating of 6 or better in Best’s Insurance Reports and (B) are licensed to do business in the state wherein jurisdiction in which the property subject to the policy related Mortgaged Property is located. (b) If the Servicer, as servicer for the benefit of the Owner, shall obtain and maintain a blanket policy that would meet the requirements of Xxxxxx Xxx if Xxxxxx Xxx were the purchaser of the Mortgage Loans, insuring against loss to the Owner as mortgagee from damage to any or all of the Mortgaged Properties, then, to the extent such blanket policy (i) provides coverage, without coinsurance, in an amount equal to the aggregate outstanding Unpaid Principal Balance of the Mortgage Loans, (ii) otherwise complies with the requirements of Section 2.10(a) and (iii) contains a deductible not greater than $10,000, the Servicer shall be deemed conclusively to have satisfied its obligations under Section 2.10(a); provided, however, that if there shall have been one or more of such losses the Servicer shall deposit in the Account, as provided in Section 2.4, out of the Servicer’s own funds and without reimbursement therefor, the difference, if any, between the amount that would have been payable under a policy complying with Section 2.10(a) and the amount paid under the blanket policy permitted under this Section 2.10(b). At the request of the Owner, the Servicer shall cause to be delivered to the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall not be terminated or materially modified without thirty (30) days’ prior written notice to the Owner.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Xxxxxx Xxx or Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCXxxxxx Mae or Xxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.02(e). It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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.additional

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the such Mortgage Loan, and (b) an amount the percentage such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Federal Emergency Management Agency as being a special flood hazard area that has federally-mandated flood insurance requirements, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the such Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO Property, fire and hazard insurance with extended coverage in an amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage LoanLoans, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s 's Key Rating Guide currently acceptable to Xxxxxx Mae and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fxxxxx Mxx or Fxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFxxxxx Mae or Fxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Xxx and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides Xxxxxx Xxx Guide that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides Xxxxxx Mae Guide or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fxxxxx Mae or Fxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFxxxxx Mae or Fxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The To the extent the payment of the related premiums will not, in the Seller’s reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fxxxxx Mxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is Mxxxxxxex Xropexxx xx located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less nxx xxxs than the least txx xxxxt of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood spexxxx xlood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations xxxxxxtxxxs as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan during the related Interim Servicing Period fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Mortxxxxx Pxxxerty xx xxxated in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than xxxx xhan the least of xxxxx xf (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood speciax xxxxd hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.04. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as regxxxxxxnx xs shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Company shall cause to be maintained for each Mortgage Loan fire and hazard insurance with such that all buildings upon the Mortgaged Property are insured by a Qualified Insurer against loss by fire, hazards of extended coverage and such other hazards as is acceptable to FNMA and FHLMC and are customary in the area where the Mortgaged Property is located located, in an amount which is at least equal to the lesser of (i) the maximum insurable replacement value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required upon origination of the Mortgage Loan, the related Mortgaged Property was located in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973, Emergency Management Agency as amended, each Mortgage Loan shall be covered by having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with an insurance carrier acceptable to FNMA and/or FHLMC, a Qualified Insurer in an amount representing coverage not less than equal to the least lesser of (i) the outstanding principal minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the unpaid balance of the Mortgage Loan, mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Company determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard area xxxxxx xxxa and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Company shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Company shall also maintain verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Fannie Mae requirements, and secure from the owner's association its agreexxxx xo notify the Company promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on each 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 Mortgaged Property as security. The Company shall cause to be maintained on each Mortgaged Property earthquake or such propertyother or additional insurance as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, and, or pursuant to the extent requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices. In the event that any Purchaser or the Company shall determine that the Mortgaged Property should be insured against loss or damage by hazards and available under risks not covered by the Flood Disaster Protection Act insurance required to be maintained by the Mortgagor pursuant to the terms of 1973the Mortgage, the Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor's attention the desirability of protection of the Mortgaged Property. All policies required hereunder shall name the Company as amendedloss payee and shall be endorsed with standard or union mortgagee clauses, flood without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage. The Company shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall only accept any such insurance policies from Qualified Insurers licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in an amount as provided abovesufficient time for the Mortgagor to arrange for renewal coverage by the expiration date. Any Pursuant to Section 4.04, any amounts collected by the Seller Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with Accepted Servicing Practices, the Company's normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Xxx and FHLMC Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMCXxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor Servicer or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is Mxxxxxxed Propexxx xx located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less nxx xxxs than the least txx xxxxt of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood spexxxx xlood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations xxxxxxtxxxs as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located Mortgxxxx Xroperty xx xxxxted in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than lxxx xxan the least of lxxxx xx (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or and (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood xxxxx hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said the related Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The To the extent the payment of the related premiums will not, in the Seller's reasonable determination, constitute non-recoverable Servicing Advances, the Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as reguxxxxxxs xx shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and Loan, hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where such that all buildings upon the Mortgaged Property is located are insured by a generally acceptable insurer rated A:VI or better in the current Best's against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the FNMA Guides or the FHLMC Guide, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-co- insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, rated A:VI or better in Best's in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the related Mortgage Loan, Loan and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Seller Servicer shall immediately force place purchase the required flood insurance on the Mortgagor’s 's behalf. The Seller If a Mortgage is secured by a unit in a condominium project, the Servicer shall also maintain verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current MAMA requirements, and secure from the owner Is 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 each 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 Mortgaged Property as security. The Servicer shall cause to be maintained on each Mortgaged Property such propertyother or additional insurance as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, and, or pursuant to the requirements of any primary mortgage guaranty insurer. All policies required hereunder shall name the Servicer and its successors and assigns as mortgagee and shall be endorsed with non-contributory standard New York mortgagee clauses which shall provide for at least thirty (30) days' prior written notice of any cancellation, reduction in amount or material change in coverage. The Servicer shall not interfere with the Mortgagor's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best's and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Servicer shall determine that such policies provide sufficient risk coverage and amounts as required pursuant to the FNMA Guides or the FHLMC Guide, that they insure the property owner, and that they properly describe the property address. To the extent required and available under reasonably possible the Flood Disaster Protection Act Servicer shall furnish to the Mortgagor a formal notice of 1973, as amended, flood expiration of any such insurance in an amount as provided abovesufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Servicer, the Servicer shall ensure that replacement insurance policies are in place in the required coverages and the Servicer shall be solely liable for any losses in the event such coverage is not provided. Any Pursuant to Section 2.04, any amounts collected by the Seller Servicer under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property or REO Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor Mortgagor, in accordance with Accepted Servicing Practices, the Servicer's normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account, Account subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of B:VI or better in Best’s Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located2.05.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and Loan, hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where such that all buildings upon the Mortgaged Property is located are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are required to be insured pursuant to the FNMA Guides or the FHLMC Guide, in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or or the Mortgagee loss payee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least lesser of (i) the outstanding principal balance of the related Mortgage Loan, Loan and (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or and FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-forty five (45) days after such notification, the Seller shall immediately force place purchase the required flood insurance on the Mortgagor’s 's behalf. If a Mortgage is secured by a unit in a condominium project, the Seller shall verify that the coverage required of the owner's association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current FNMA and FHLMC requirements. The Seller shall also maintain cause to be maintained on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property such other or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall additional insurance as may be deposited in the Custodial Account, subject to withdrawal required pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any applicable primary mortgage guaranty insurer. All such policies required hereunder shall be endorsed with standard mortgagee clauses with loss payable to name the Seller and its successors and/or and assigns as mortgagee and shall be endorsed with non-contributory standard mortgagee clauses which shall provide for at least thirty (30) days days' prior written notice of any cancellation, reduction in the amount or material change in coverage to the Sellercoverage. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating of Brated A:VI or better in Best’s Key Rating Guide 's and are licensed to do business in the state wherein jurisdiction in which the Mortgaged Property is located. The Seller shall determine that such policies provide sufficient risk coverage and amounts that they insure the property owner, and that they properly describe the property address. To the extent reasonably possible, the Seller shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date; provided, however, that in the event that no such notice is furnished by the Seller, the Seller shall ensure that replacement insurance policies are in place in the required coverages and the Seller shall be solely liable to the Purchaser only for any losses in the event such coverage is not provided. Pursuant to Section 2.04, any amounts collected by the Seller under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Seller's normal servicing procedures as specified in Section 2.14) shall be deposited in the Custodial Account subject to the policy is locatedwithdrawal pursuant to Section 2.05.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC Fannie Mae or Freddie Mac and customary in the area where the Mortgaged Property is located in Prxxxxxx xx locaxxx xx an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMCFannie Mae or Freddie Mac, in an amount representing coverage not less than the thax xxx least of (ix) the xxe outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller Servicer determines in accordance with applicable law and pursuant to the FNMA or FHLMC Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard xxxxxx area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller Servicer shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller Servicer shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller Servicer shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practices, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.054.02(e). It is understood and agreed that no other additional insurance need be required by the Seller or Servicer of the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Fannie Mae Guides or such applicable state or federal laws and regulations as shall xx xxaxx at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller Servicer and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA Xxxxxx Xxx and FHLMC Xxxxxxx Mac and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA Xxxxxx Mae and/or FHLMCXxxxxxx Mac, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Xxxxxx Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Xxxxxx Xxx Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.

Maintenance of Hazard Insurance. The Seller Servicer shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is at least equal to the lesser of (i) the maximum insurable value of amount necessary to fully compensate for any damage or loss to the improvements securing which are a part of such Mortgage Loan property on a replacement cost basis or (ii) the greater of (a) the outstanding principal balance Principal Balance of the Mortgage Loan, and (b) in each case in an amount not less than such that the proceeds thereof shall be sufficient amount as is necessary to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If required the Mortgaged Property is in an area identified in the Federal Register by the Flood Disaster Protection Act of 1973Emergency Management Agency as having special flood hazards and flood insurance has been made available, as amended, each Mortgage Loan shall the Servicer will cause to be covered by maintained a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an a generally acceptable insurance carrier acceptable to FNMA and/or FHLMCcarrier, in an amount representing coverage not less than the least of (i) the outstanding principal balance Principal Balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the National Flood Disaster Protection Insurance Act of 19731968, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s behalf. The Seller Servicer shall also maintain on each the REO PropertyProperties for the benefit of the Certificateholders, (x) fire and hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) 100% of the maximum insurable value of the improvements which are a part securing the Mortgage Loan and (ii) the outstanding Principal Balance of such propertythe Mortgage Loan at the time it became an REO Property, (y) public liability insurance and, (z) to the extent required and available under the National Flood Disaster Protection Insurance Act of 19731968, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller Servicer under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing Practicesthe Servicer's normal servicing procedures, shall be deposited in the Custodial Collection Account, subject to withdrawal pursuant to Section 4.053.05(a). It is understood and agreed that no earthquake or other additional insurance need is required to be required maintained by the Seller Servicer or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations 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 Seller and its successors and/or assigns Servicer and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount of or material change in coverage to the SellerServicer. The Seller Servicer shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller Servicer shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and currently reflect a General Policy Rating general policy rating of B:VI A:X or better in Best’s 's Key Rating Guide and are licensed to do business in the state wherein the property subject to the policy is located.

Maintenance of Hazard Insurance. The Seller shall cause to be maintained for each Mortgage Loan fire and hazard insurance with extended coverage as is acceptable to FNMA and FHLMC and customary in the area where the Mortgaged Property is located in an amount which is equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan, and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee mortgagee from becoming a co-insurer. If required by the Flood Disaster Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in effect with an insurance carrier acceptable to FNMA and/or FHLMC, in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum insurable value of the improvements securing such Mortgage Loan or (iii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Seller determines in accordance with applicable law and pursuant to the FNMA or FHLMC Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Seller shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Seller shall immediately force place the required flood insurance on the Mortgagor’s 's behalf. The Seller shall also maintain on each 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, and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount as provided above. Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with Accepted Servicing PracticesApplicable Requirements, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05. It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to this Agreement, the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance. All such policies shall be endorsed with standard mortgagee clauses with loss payable to the Seller and its successors and/or assigns and shall provide for at least thirty (30) days prior written notice of any cancellation, reduction in the amount or material change in coverage to the Seller. The Seller shall not interfere with the Mortgagor’s 's freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Seller shall not accept any such insurance policies from insurance companies unless such companies are Qualified Insurers and 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 locatedInsurers.