Reconstruction Coverage. If, with respect to a PUD or Condominium Project in which a Mortgaged Property is located, there is a construction code provision that would require changes to undamaged portions of the PUD or Condominium Project's building(s) even when only part of a building is destroyed by an insured hazard, then the Servicer must ensure that each insurance policy required by this Article contains the necessary construction code endorsements to cover this exposure.
Appears in 76 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar18 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-4 Trust.), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-3 Trust)
Reconstruction Coverage. If, with respect to a PUD or Condominium Project in which a Mortgaged Property is located, there is a construction code provision that would require changes to undamaged portions of the PUD or Condominium Project's ’s building(s) even when only part of a building is destroyed by an insured hazard, then the Servicer must ensure that each insurance policy required by this Article contains the necessary construction code endorsements to cover this exposure.
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Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)