Common use of Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder Clause in Contracts

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiums, and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a Mortgage does not provide for Escrow Payments, then the Servicer shall require that any such payments be made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreement. The Servicer shall maintain in full force and effect a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29). The Servicer shall not take any action which would result in noncoverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiums, and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a Mortgage does not provide for Escrow Payments, then the Servicer shall require that any such payments be made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s 's faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreement. The Servicer shall maintain in full force and effect a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(293.03(30), issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the related Funding Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(293.03(30). The Servicer shall not take any action which would result in noncoverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional Primary Insurance Policy on any Mortgage Loan which already has a Primary Insurance Policy in place, or (ii) obtain a Primary Insurance Policy for any Mortgage Loan which does not already have a Primary Insurance Policy in place. Upon the mutual agreement of the Purchaser and the Servicer, such Primary Insurance Policy will be administered by the Servicer in accordance with the terms of this Agreement or any Reconstitution Agreement.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage LoanLoan to the extent reasonably feasible based on information received from the Mortgagors, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiumsProperty, and Servicer shall effect payment thereof prior to ensure the applicable penalty or termination date lien of the Mortgage remains in full force and at a time appropriate for securing maximum discounts allowable, employing for such purpose effect by applying deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by Account, where such an account is maintained in connection with a Mortgage Loan, to the Servicer in amounts sufficient for such purposes, as allowed extent permitted under the terms of the Mortgage and applicable law. If In the event Servicer does not enforce, or is prohibited by law from enforcing, the escrow requirements under a Mortgage and does not provide for require a Mortgagor to make deposits into the Escrow PaymentsAccount, then the Servicer shall require ensure that all ground rents, taxes, assessments, water rates, and any such payments be made by other charges which are or may become a lien upon the Mortgagor at Mortgaged Property are paid and the time they first become due. The Servicer assumes lien of the Mortgage remains in full responsibility for the timely force and effect, and shall advance its own funds, if necessary, to effect payment of all such bills the same. With respect to each Mortgage Loan Servicer shall maintain or cause to be maintained accurate records reflecting the status of property insurance policy premiums, and shall effect timely payments of all such bills irrespective payment thereof by applying deposits of the Mortgagor’s faithful performance Mortgagor in the payment of same or Escrow Account, where such an account is maintained in connection with a Mortgage Loan, to the making extent permitted under the terms of the Mortgage and applicable law. In the event Servicer does not enforce, or is prohibited by law from enforcing the escrow requirements under a Mortgage and does not require a Mortgagor to make deposits into the Escrow Payments Account, Servicer shall ensure that at all times each Mortgaged Property affected thereby is insured by property insurance to the extent required under Section 4.10 of this Agreement, and shall make advances from advance its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with payment of the terms of this Agreementsame, if necessary. The Servicer shall maintain in full force and effect a Primary Mortgage Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Section, with respect to each Mortgage Loan for as to which a Primary Mortgage Insurance Policy was in effect on the related Closing Date, which Primary Mortgage Insurance Policy shall be the same as, or conform in all material respects to, such coverage Primary Mortgage Insurance Policy in effect on the related Closing Date and shall be issued by an insurer whose claims-paying ability is requiredsatisfactory to Xxxxxx Mae and Xxxxxxx Mac and that is licensed to do business in the state in which the related Mortgaged Property is located. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998less. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Mortgage Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Mortgage Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)above. The Servicer shall not take any action which that would result in noncoverage non-coverage under any applicable Primary Mortgage Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution of liability agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Mortgage Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which that may be required by such insurer as a condition to the continuation of coverage under the Primary Mortgage Insurance Policy or LPMI Policy. If such Primary Mortgage Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the liability Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Mortgage Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself itself, and the PurchaserOwner, claims to the insurer under any Primary Mortgage Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.044.04, any amounts collected by the Servicer under any Primary Mortgage Insurance Policy or LPMI Policy shall be deposited in into the Collection Custodial Account, subject to withdrawal in accordance with pursuant to Section 5.054.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiums, and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a Mortgage does not provide for Escrow Payments, then the Servicer shall require that any such payments be made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s 's faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreement. The Servicer shall maintain in full force and effect a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)3.03. The Servicer shall not take any action which would result in noncoverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiums, and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a Mortgage does not provide for Escrow Payments, then the Servicer shall require that any such payments be made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreement. The Servicer shall maintain in full force and effect a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(293.03(30), issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(293.03(30). The Servicer shall not take any action which would result in noncoverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiums, and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a Mortgage does not provide for Escrow Payments, then the Servicer shall require that any such payments be made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreement. The Servicer shall maintain in full force and effect a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29). The Servicer shall not take any action which would result in noncoverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination termi­nation date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable applic­able law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer Seller shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s 's faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectionacceptable to FNMA and FHLMC, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such timeotherwise as required by federal, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998state or local law. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)acceptable to FNMA and FHLMC. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.018.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution substi­tution of liability in accordance accor­dance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.048.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05pursuant to 8.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor Borrower in the Escrow Account which shall have been estimated and accumulated by the Servicer Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer Seller shall require determine that any such payments be are made by the Mortgagor Borrower at the time they first become due. The Servicer Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the MortgagorBorrower’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Xxxxxx Xxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non-renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.0111.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.0411.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy Policy, shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with pursuant to Section 5.0511.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and sewer charges and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Mortgage Insurance Policy or LPMI Policy premiums premiums, if any, and fire and hazard insurance coverage coverage, and shall obtain, from time to time, all bills for the payment of such charges, including charges,(including renewal premiums, ) and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable lawMortgage. If To the extent that a Mortgage does not provide for Escrow Payments, then the Servicer shall require determine that any such payments be are made by the Mortgagor at during the time they first become dueperiod such payments can be made without interest or penalty. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the each Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer shall will maintain in full force and effect effect, a Primary Mortgage Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29)5(b)(xxxvii) of the Purchase Agreement, issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio required pursuant to Section 5(b)(xxxvii) of the related Purchase Agreement provided that Primary Mortgage Insurance may be discontinued with respect to any Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions standards of applicable law including, but not limited to, the Homeowners Protection Act of 1998Xxxxxx Xxx and Applicable Law. The Servicer shall assure that all premiums due under any cause the premium for each Primary Mortgage Insurance Policy or LPMI Policy are to be paid in on a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do sobasis. The Servicer shall will not cancel or refuse to renew any such Primary Mortgage Insurance Policy or LPMI Policy in effect on the Funding each Closing Date that is required to be kept in force under this any Mortgage or pursuant to Section 5(b)(xxxvii) of the Purchase Agreement unless a replacement Primary Mortgage Insurance Policy or LPMI Policy for such canceled or nonrenewed non-renewed policy is obtained from and maintained with an a qualified insurer with a policy that satisfies the standards set forth in Section 3.03(29)5(b)(xxxvii) of the Purchase Agreement. The Servicer shall not take any action which would result in noncoverage under any applicable Primary Mortgage Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Mortgage Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Mortgage Insurance Policy or LPMI Policy. If such Primary Mortgage Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Mortgage Insurance Policy or LPMI Policy as provided above. If As part of its activities as administrator and servicer of the insurer shall cease to be an insurer acceptable under the PHH GuidelinesMortgage Loans, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may agrees: (ix) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser, Owner claims to the insurer under any Primary Mortgage Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies thereof and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.044.04, any amounts collected by the Servicer under any Primary Mortgage Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with pursuant to Section 5.054.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor Borrower in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer shall require determine that any such payments be are made by the Mortgagor Borrower at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the MortgagorBorrower’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Xxxxxx Xxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non-renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.0111.19, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.0411.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy Policy, shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with pursuant to Section 5.0511.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall payments. Notwithstanding anything else contained herein, it is agreed that the Servicer will not be entitled required to reimbursement thereof pay any such bills for ground rents, taxes, assessments, water rates and other charges if the Mortgage does not provide for Escrow Payments until such time at which such unpaid amounts would be considered delinquent or result in accordance with a superior lien being imposed on the terms of this AgreementMortgaged Property or otherwise impair Purchaser’s interest in the Mortgaged Property. The Servicer shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Xxxxxx Xxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01Subsection 11.19, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04Subsection 11.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05pursuant to Subsection 11.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer Seller shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which FNMA no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.0111.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.0411.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with pursuant to Section 5.0511.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor Borrower in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer shall require determine that any such insurance premium payments be are made by the Mortgagor Borrower at the time they first become duedue and any such tax payments are made in time to avoid loss of the Mortgaged Property in a tax sale. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills prior to the termination of any such insurance coverage or loss of any such Mortgaged Property in a tax sale irrespective of the MortgagorBorrower’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Fxxxxx Mxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy Policy, if any, in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy Policy, if any, for such canceled or nonrenewed non-renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.014.12, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy, if any. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself itself, the Issuer and the PurchaserNoteholders, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.045.01, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s 's faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Xxxxxx Xxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a Exh 9-8 replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01Subsection 11.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04Subsection 11.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05pursuant to Subsection 11.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiums, and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a Mortgage does not provide for Escrow Payments, then the Servicer shall require that any such payments be made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreement. The Servicer shall maintain in full force and effect a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(293.03(30), issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(293.03(30). The Servicer shall not take any action which would result in noncoverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser and the Trustee as assignee of the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer Seller shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Seller’s Underwriting Guidelines no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01Subsection 11.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04Subsection 11.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05pursuant to Subsection 11.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage LoanLoan to the extent reasonably feasible based on information received from the Mortgagors, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiumsProperty, and Servicer shall effect payment thereof prior to ensure the applicable penalty or termination date lien of the Mortgage remains in full force and at a time appropriate for securing maximum discounts allowable, employing for such purpose effect by applying deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by Account, where such an account is maintained in connection with a Mortgage Loan, to the Servicer in amounts sufficient for such purposes, as allowed extent permitted under the terms of the Mortgage and applicable law. If In the event Servicer does not enforce, or is prohibited by law from enforcing, the escrow requirements under a Mortgage and does not provide for require a Mortgagor to make deposits into the Escrow PaymentsAccount, then the Servicer shall require ensure that all ground rents, taxes, assessments, water rates, and any such payments be made by other charges which are or may become a lien upon the Mortgagor at Mortgaged Property are paid and the time they first become due. The Servicer assumes lien of the Mortgage remains in full responsibility for the timely force and effect, and shall advance its own funds, if necessary, to effect payment of all such bills the same. With respect to each Mortgage Loan Servicer shall maintain or cause to be maintained accurate records reflecting the status of property insurance policy premiums, and shall effect timely payments of all such bills irrespective payment thereof by applying deposits of the Mortgagor’s faithful performance Mortgagor in the payment of same or Escrow Account, where such an account is maintained in connection with a Mortgage Loan, to the making extent permitted under the terms of the Mortgage and applicable law. In the event Servicer does not enforce, or is prohibited by law from enforcing the escrow requirements under a Mortgage and does not require a Mortgagor to make deposits into the Escrow Payments Account, Servicer shall ensure that at all times each Mortgaged Property affected thereby is insured by property insurance to the extent required under Section 4.10 of this Agreement, and shall make advances from advance its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with payment of the terms of this Agreementsame, if necessary. The Servicer shall maintain in full force and effect a Primary Mortgage Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Section, with respect to each Mortgage Loan for as to which a Primary Mortgage Insurance Policy was in effect on the related Closing Date, which Primary Mortgage Insurance Policy shall be the same as, or conform in all material respects to, such coverage Primary Mortgage Insurance Policy in effect on the related Closing Date and shall be issued by an insurer whose claims-paying ability is requiredsatisfactory to Fannie Mae and Freddie Mac and that is licensed to do business in xxx xtxxx in wxxxx xxe related Mortgaged Property is located. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998less. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Mortgage Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Mortgage Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)above. The Servicer shall not take any action which that would result in noncoverage non-coverage under any applicable Primary Mortgage Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution of liability agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Mortgage Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which that may be required by such insurer as a condition to the continuation of coverage under the Primary Mortgage Insurance Policy or LPMI Policy. If such Primary Mortgage Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the liability Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Mortgage Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself itself, and the PurchaserOwner, claims to the insurer under any Primary Mortgage Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.044.04, any amounts collected by the Servicer under any Primary Mortgage Insurance Policy or LPMI Policy shall be deposited in into the Collection Custodial Account, subject to withdrawal in accordance with pursuant to Section 5.054.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor Borrower in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer shall require determine that any such insurance premium payments be are made by the Mortgagor Borrower at the time they first become duedue and any such tax payments are made in time to avoid loss of the Mortgaged Property in a tax sale. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills prior to the termination of any such insurance coverage or loss of any such Mortgaged Property in a tax sale irrespective of the Mortgagor’s Borrower's faithful performance in it the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Xxxxxx Xxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy Policy, if any, in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy Policy, if any, for such canceled or nonrenewed non-renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.014.12, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy, if any. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself itself, the Issuer and the PurchaserNoteholders, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.045.01, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiums, and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a Mortgage does not provide for Escrow Payments, then the Servicer shall require that any such payments be made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreement. The Servicer shall maintain in full force and effect a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(293.03(30), issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(293.03(30). The Servicer shall not take any action which would result in noncoverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, a replacement Primary Insurance Policy or LPMI Policy as provided above. With respect to each Mortgage Loan with an LTV greater than 80% not covered by a PMI Policy, the Servicer shall maintain in full force and effect any LPMI Policy, and from time to time, withdraw the LPMI Fee with respect to such Mortgage Loans from the Custodial Account in order to pay the LPMI Fee thereon on a timely basis. In the event that the interest payments made with respect to the Mortgage Loan are less than the LPMI Fee with respect to the LPMI Policy, the Servicer shall advance from its own funds the amount of any such shortfall in the LPMI Fee, in payment of such LPMI Fee. Any such advance shall be a Servicing Advance subject to reimbursement. In the event that such LPMI Policy shall be terminated, the Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated LPMI Policy, at substantially the same fee level. If the insurer shall cease to be an insurer acceptable under the PHH Guidelinesa Qualified Insurer, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable LPMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such LPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such LPMI Policy. If such LPMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement LPMI Policy as provided above. Initial Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a an LPMI Policy for any Mortgage Loan which does not already have a an LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the this Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any Primary Insurance Policy or and LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal in accordance with Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer Seller shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Xxxxxx Xxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01Subsection 11.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04Subsection 11.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05pursuant to Subsection 11.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage LoanLoan to the extent reasonably feasible based on information received from the Mortgagors, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including renewal premiumsProperty, and Servicer shall effect payment thereof prior to ensure the applicable penalty or termination date lien of the Mortgage remains in full force and at a time appropriate for securing maximum discounts allowable, employing for such purpose effect by applying deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by Account, where such an account is maintained in connection with a Mortgage Loan, to the Servicer in amounts sufficient for such purposes, as allowed extent permitted under the terms of the Mortgage and applicable law. If In the event Servicer does not enforce, or is prohibited by law from enforcing, the escrow requirements under a Mortgage and does not provide for require a Mortgagor to make deposits into the Escrow PaymentsAccount, then the Servicer shall require ensure that all ground rents, taxes, assessments, water rates, and any such payments be made by other charges which are or may become a lien upon the Mortgagor at Mortgaged Property are paid and the time they first become due. The Servicer assumes lien of the Mortgage remains in full responsibility for the timely force and effect, and shall advance its own funds, if necessary, to effect payment of all such bills the same. With respect to each Mortgage Loan Servicer shall maintain or cause to be maintained accurate records reflecting the status of property insurance policy premiums, and shall effect timely payments of all such bills irrespective payment thereof by applying deposits of the Mortgagor’s faithful performance Mortgagor in the payment of same or Escrow Account, where such an account is maintained in connection with a Mortgage Loan, to the making extent permitted under the terms of the Mortgage and applicable law. In the event Servicer does not enforce, or is prohibited by law from enforcing the escrow requirements under a Mortgage and does not require a Mortgagor to make deposits into the Escrow Payments Account, Servicer shall ensure that at all times each Mortgaged Property affected thereby is insured by property insurance to the extent required under Section 4.10 of this Agreement, and shall make advances from advance its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with payment of the terms of this Agreementsame, if necessary. The Servicer shall maintain in full force and effect a Primary Mortgage Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Section, with respect to each Mortgage Loan for as to which a Primary Mortgage Insurance Policy was in effect on the related Closing Date, which Primary Mortgage Insurance Policy shall be the same as, or conform in all material respects to, such coverage Primary Mortgage Insurance Policy in effect on the related Closing Date and shall be issued by an insurer whose claims-paying ability is requiredsatisfactory to Fannie Mae and Freddie Mac and that is licensed to do business in thx xxxxe in whicx xxx xelated Mortgaged Property is located. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998less. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Mortgage Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Mortgage Insurance Policy or LPMI Policy for such canceled or nonrenewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)above. The Servicer shall not take any action which that would result in noncoverage non-coverage under any applicable Primary Mortgage Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution of liability agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Mortgage Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which that may be required by such insurer as a condition to the continuation of coverage under the Primary Mortgage Insurance Policy or LPMI Policy. If such Primary Mortgage Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the liability Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Mortgage Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself itself, and the PurchaserOwner, claims to the insurer under any Primary Mortgage Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.044.04, any amounts collected by the Servicer under any Primary Mortgage Insurance Policy or LPMI Policy shall be deposited in into the Collection Custodial Account, subject to withdrawal in accordance with pursuant to Section 5.054.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage LoanLoan which provides for Escrow Payments to be made, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Mortgage Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, charges (including renewal premiums, ) and shall use reasonable efforts to effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable lawor Applicable Regulations. If a To the extent that any First Mortgage Loan does not provide for Escrow Payments, then the Servicer shall require determine that any such payments be are made by the Mortgagor at Mortgagor. With respect to each First Mortgage Loan, subject to Acceptable Servicing Practices, the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds Servicing Advances to effect such payments but within the time period required to avoid the loss of the related Mortgaged Property by foreclosure from a tax or other lien. Additionally, for all tax penalties and interest levied prior to the transfer of the Mortgage Loans to the Servicer or as a result of the actions of the prior servicer or the Owner, the Servicer shall make Servicing Advances to effect such payments. Notwithstanding the foregoing, if the Servicer reasonably determines that such Servicing Advance would be a Nonrecoverable Servicing Advance, the Servicer shall have no obligation to make such Servicing Advance. The Servicer shall be entitled to immediate reimbursement thereof for any Servicing Advance from any and all funds deposited in accordance with the terms of this AgreementCustodial Account whether or not the funds deposited in the Custodial Account relate to the Mortgage Loans or REO Property for which the Servicing Advances were made. The With respect to each First Mortgage Loan, the Servicer shall will maintain or cause to be maintained in full force and effect (to the extent a Mortgage Loan has a Primary Insurance Policy or LPMI Policy, conforming in all respects to as of the description set forth in Section 3.03(29), Servicing Transfer Date) a Primary Insurance Policy issued by an insurer described in that Section, a Qualified Insurer with respect to each Mortgage Loan for which such coverage is required. Such coverage will be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 7580% or less or such lesser percentage as may be stated in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998related Primary Insurance Policy. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Servicing Transfer Date of which the Servicer has actual knowledge that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non-renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of which the Servicer has actual knowledge of any loss which, but for the actions of the Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01, the Servicer shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the PurchaserOwner, claims to the insurer under any Primary Insurance Policy or LPMI Policy of which the Servicer has actual knowledge in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04, any amounts collected by the Servicer under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with pursuant to Section 5.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer Seller shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Fxxxxx Mxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01Subsection 11.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04Subsection 11.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05pursuant to Subsection 11.05.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which Xxxxxx Xxx no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.01Subsection 11.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as interim servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04Subsection 11.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05.pursuant to Subsection 11.05. Exh 9-8

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. With respect to each Mortgage Loan, the Servicer Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of Primary Insurance Policy or LPMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges, including insurance renewal premiums, premiums and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Servicer Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage and applicable law. If a To the extent that the Mortgage does not provide for Escrow Payments, then the Servicer Seller shall require determine that any such payments be are made by the Mortgagor at the time they first become due. The Servicer Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make advances from its own funds to effect such payments but shall be entitled to reimbursement thereof in accordance with the terms of this Agreementpayments. The Servicer Seller shall maintain in full force and effect effect, a Primary Insurance Policy or LPMI Policy, conforming in all respects to the description set forth in Section 3.03(29), issued by an insurer described in that Sectiona Qualified Insurer, with respect to each Mortgage Loan for which such coverage is required. Such coverage will shall be maintained until the Loan-to-Value Ratio of the related Mortgage Loan is reduced to 75% or less in the case of a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80% or until such time, if any, as that amount for which FNMA no longer requires such insurance is required to be released in accordance with the provisions of applicable law including, but not limited to, the Homeowners Protection Act of 1998maintained. The Servicer shall assure that all premiums due under any Primary Insurance Policy or LPMI Policy are paid in a timely manner, but, shall be entitled to reimbursement pursuant to the terms of this Agreement for premiums paid by the Servicer on behalf of any Mortgagor who is obligated to pay such premiums but fails to do so. The Servicer shall Seller will not cancel or refuse to renew any Primary Insurance Policy or LPMI Policy in effect on the Funding Closing Date that is required to be kept in force under this Agreement unless a replacement Primary Insurance Policy or LPMI Policy for such canceled cancelled or nonrenewed non- renewed policy is obtained from and maintained with an insurer that satisfies the standards set forth in Section 3.03(29)a Qualified Insurer. The Servicer Seller shall not take any action which would result in noncoverage non-coverage under any applicable Primary Insurance Policy or LPMI Policy of any loss which, but for the actions of the ServicerSeller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 7.0111.19, the Servicer Seller shall promptly notify the insurer under the related Primary Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under the Primary Insurance Policy or LPMI Policy. If such Primary Insurance Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, then the Servicer Seller shall obtain, and, except as otherwise provided above, maintain, obtain a replacement Primary Insurance Policy or LPMI Policy as provided above. If the insurer shall cease to be an insurer acceptable under the PHH Guidelines, the Servicer shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another insurer acceptable under the PHH Guidelines a replacement insurance policy. Purchaser, in its sole discretion, at any time, may (i) either obtain an additional LPMI Policy on any Mortgage Loan which already has an LPMI Policy in place, or (ii) obtain a LPMI Policy for any Mortgage Loan which does not already have a LPMI Policy in place. In any event, the Servicer agrees to administer such LPMI Policies in accordance with the Agreement or any Reconstitution Agreement. In connection with its activities as servicer, the Servicer Seller agrees to prepare and present, on behalf of itself itself, and the Purchaser, claims to the insurer under any Primary Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such policies and, in this regard, to take such action as shall be necessary to permit recovery under any Primary Insurance Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 5.04Subsection 11.04, any amounts collected by the Servicer Seller under any Primary Insurance Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal in accordance with Section 5.05pursuant to Subsection 11.05.