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. (i) The first sentence of the second paragraph of Section 5.08 shall be amended and replaced, to read in its entirety as follows: With respect to each Mortgage Loan with a Loan-to-Value Ratio in excess of 80%, the Servicer shall promptly, without any cost to the Purchaser, maintain in full force and effect a Primary Insurance Policy, conforming in all respects to the description set forth in Section 3.03(30) hereof, issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required.

Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder. (i) The first sentence of the second paragraph of Section 5.08 shall be amended and replaced, to read in its entirety as follows: With respect to each Mortgage Loan with a Loan-to-Value Ratio in excess of 80%, the Servicer shall promptly, without any cost to the Purchaser, maintain in full force and effect a Primary Insurance Policy, conforming in all respects to the description set forth in Section 3.03(30) hereofhereof or Section 3.03(31) of the Purchase Agreement, as applicable, issued by an insurer described in that Section, with respect to each Mortgage Loan for which such coverage is required.