Common use of Maintenance of Mortgage Blanket Insurance Clause in Contracts

Maintenance of Mortgage Blanket Insurance. In the event that the Servicer shall obtain and maintain a blanket policy (a "Mortgage Impairment Insurance Policy") insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such Mortgage Impairment Insurance Policy provides coverage in an amount equal to the amount required pursuant to Section 3.13 and otherwise complies with all other requirements of Section 3.13, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.13. Any amounts collected by the Servicer under any such Mortgage Impairment Insurance Policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Sections 3.04 or 3.06. Such Mortgage Impairment Insurance Policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.13, and there shall have been a loss which would have been covered by such policy, the Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under such blanket policy because of such deductible clause, such amount to deposited from the Servicer's funds, without reimbursement therefor.

Maintenance of Mortgage Blanket Insurance. In the event that the Servicer shall obtain and maintain a blanket policy (a "Mortgage Impairment Insurance Policy") insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such Mortgage Impairment Insurance Policy policy provides coverage in an amount equal to the amount required pursuant to Section 3.13 3.10 of this Agreement and otherwise complies with all other requirements of Section 3.133.10 of this Agreement, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.133.10 of this Agreement. Any amounts collected by the Servicer under any such Mortgage Impairment Insurance Policy policy relating to a Mortgage Loan shall be deposited in the Custodial Collection Account or Escrow Account subject to withdrawal pursuant to Sections 3.04 Section 3.05 or 3.063.07 of this Agreement. Such Mortgage Impairment Insurance Policy policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.133.10 of this Agreement, and there shall have been a loss which would have been covered by such policy, the Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under such the blanket policy because of such deductible clause, such amount to shall be deposited from the Servicer's funds, without reimbursement therefor. Upon request of the Owner, the Servicer shall cause to be delivered to such Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without thirty (30) days' prior written notice to the Owner.

Maintenance of Mortgage Blanket Insurance. In the event that the Servicer shall obtain and maintain a blanket policy (a "Mortgage Impairment Insurance Policy") insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such Mortgage Impairment Insurance Policy policy provides coverage in an amount equal to the amount required pursuant to Section 3.13 3.10 of this Agreement and otherwise complies with all other requirements of Section 3.133.10 of this Agreement, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.133.10 of this Agreement. Any amounts collected by the Servicer under any such Mortgage Impairment Insurance Policy policy relating to a Mortgage Loan shall be deposited in the Custodial Collection Account or Escrow Account subject to withdrawal pursuant to Sections 3.04 Section 3.05 or 3.063.07 of this Agreement. Such Mortgage Impairment Insurance Policy policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.133.10 of this Agreement, and there shall have been a loss which would have been covered by such policy, the Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under such the blanket policy because of such deductible clause, such amount to shall be deposited from the Servicer's ’s funds, without reimbursement therefor. Upon request of the Owner, the Servicer shall cause to be delivered to such Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without thirty (30) days’ prior written notice to the Owner.

Maintenance of Mortgage Blanket Insurance. In the event that the Servicer shall obtain and maintain a blanket policy (a "Mortgage Impairment Insurance Policy") insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such Mortgage Impairment Insurance Policy provides coverage in an amount equal to the amount required pursuant to Section 3.13 and otherwise complies with all other requirements of Section 3.13, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.13. Any amounts collected by the Servicer under any such Mortgage Impairment Insurance Policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Sections Section 3.04 or 3.06. Such Mortgage Impairment Insurance Policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.13, and there shall have been a loss which would have been covered by such policy, the Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under such blanket policy because of such deductible clause, such amount to deposited from the Servicer's funds, without reimbursement therefortherefore.

Maintenance of Mortgage Blanket Insurance. In the event that the The Servicer shall obtain and maintain a blanket policy (a "“Mortgage Impairment Insurance Policy"”) insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to . To the extent such Mortgage Impairment Insurance Policy policy provides coverage in an amount equal to the amount required pursuant to Section 3.13 and otherwise complies with all other requirements of Section 3.13, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.13. Any amounts collected by the Servicer under any such Mortgage Impairment Insurance Policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Sections 3.04 or 3.06. Such Mortgage Impairment Insurance Policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.13, and there shall have been a loss which would have been covered by such policy, the Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under such the blanket policy because of such deductible clause, such amount to be deposited from the Servicer's ’s funds, without reimbursement therefor.

Maintenance of Mortgage Blanket Insurance. In the event that the Servicer shall obtain and maintain a blanket policy (a "Mortgage Impairment Insurance Policy") insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such Mortgage Impairment Insurance Policy policy provides coverage in an amount equal to the amount required pursuant to Section 3.13 3.10 of this Agreement and otherwise complies with all other requirements of Section 3.133.10 of this Agreement, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.133.10 of this Agreement. Any amounts collected by the Servicer under any such Mortgage Impairment Insurance Policy policy relating to a Mortgage Loan shall be deposited in the Custodial Collection Account or Escrow Account subject to withdrawal pursuant to Sections 3.04 Section 3.05 or 3.063.07 of this Agreement. Such Mortgage Impairment Insurance Policy policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.133.10 of this Agreement, and there shall have been a loss which would have been covered by such policy, the Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under such the blanket policy because of such deductible clause, such amount to shall be deposited from the Servicer's ’s funds, without reimbursement therefor. Upon request of the Owner or the Certificate Insurer, the Servicer shall cause to be delivered to such Owner and the Certificate Insurer a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without thirty (30) days’ prior written notice to the Owner and the Certificate Insurer.