Common use of Restoration of Mortgaged Property Clause in Contracts

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Interim Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Interim Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Interim Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Interim Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Interim Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Interim Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Interim Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing Practices and the terms of this AgreementProcedures. At For claims greater than $15,000, at a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Interim Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At a minimum, the Interim Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Interim Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Interim Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Interim Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Interim Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Interim Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payeemortgagee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer Seller shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer Seller shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer Seller shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer Seller shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer Seller is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreementthe Mortgage Loan Documents. At a minimum, the Servicer Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer Seller shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer Seller shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer Seller shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer Seller shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payeemortgagee, the Servicer Seller is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing Practices and the terms of this AgreementProcedures. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser. Subsection 11.24.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Owner prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Servicing Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion in all material respects of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Owner is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserOwner.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Owner prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Servicing Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Owner is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserOwner.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreementservicing standards set forth in Section 5.01(1). At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted the Servicing Practices and the terms of this AgreementStandards. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Trustee or the Depositor is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserTrustee or the Depositor, as applicable.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Trustee is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserTrustee.

Restoration of Mortgaged Property. The Servicer Servicing Administrator need not obtain the approval of the Purchaser or its designee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing Practices and the terms of this AgreementProcedures. At a minimum, the Servicer Servicing Administrator shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer Servicing Administrator shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer Servicing Administrator shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer Servicing Administrator shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer Servicing Administrator shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer Servicing Administrator is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Company prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreementapplicable Mortgage Loan File. At a minimum, the The Servicer shall comply with the CMHC Guide and the NHA and, to the extent they do not contravene the CMHC Guide and NHA, with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) 2.13.1 the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) 2.13.2 the Servicer shall take all steps necessary to preserve the priority of the lien of securing the MortgageMortgage Loan, including, but not limited to to, requiring waivers or releases with respect to mechanics' and materialmen's liensliens or legal hypothecs in favour of the persons having taken part in the renovation of the Mortgaged Property; (iii) 2.13.3 the Servicer shall verify that the Mortgage Loan is not in default; and (iv) 2.13.4 pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Company is named as an additional loss payeemortgagee, the Servicer is hereby empowered to shall, in accordance with CMHC Guide and the NHA, endorse any loss draft issued in respect of such a claim in the name of the PurchaserCompany.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser or its designee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing Practices and the terms of this AgreementPractices. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.. Subsection 11.25

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Master Servicer or the Indenture Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the any Mortgagor to be applied to the restoration or repair of the any Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Issuing Entity is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserIssuing Entity.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Company prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with the applicable Mortgage Loan File and the Accepted Servicing Practices and the terms of this AgreementPractices. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) 2.14.1 the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) 2.14.2 the Servicer shall take all steps necessary to preserve the priority of the lien of securing the MortgageMortgage Loan, including, but not limited to to, requiring waivers or releases with respect to mechanics' and materialmen's liensliens in favor of the persons having taken part in the renovation of the Mortgaged Property; (iii) 2.14.3 the Servicer shall verify that the Mortgage Loan is not in default; and (iv) 2.14.4 pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Company is named as an additional loss payeemortgagee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserCompany.

Restoration of Mortgaged Property. The Servicer Subservicer need not obtain the approval of the Purchaser Servicer prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementApplicable Requirements. At For claims greater than $10,000, at a minimum, minimum the Servicer Subservicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer Subservicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer Subservicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Servicer Subservicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer Subservicer shall place the Insurance Proceeds or Condemnation Restricted Proceeds in the Escrow Account. If the Purchaser Servicer is named as an additional loss payee, the Servicer Subservicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserServicer.

Restoration of Mortgaged Property. The Servicer Seller need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer Seller shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer Seller shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer Seller shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer Seller shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer Seller shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payeemortgagee, the Servicer Seller is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i1) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii2) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii3) the Servicer shall verify that the Mortgage Loan is not in default; and (iv4) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreementthe related Mortgage Note. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iviii) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer Subservicer need not obtain the approval of the Purchaser Master Servicer or the Indenture Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the any Mortgagor to be applied to the restoration or repair of the any Mortgaged Property if such release is in accordance with Accepted Servicing Practices and Practices. For claims greater than $15,000, at a minimum the terms of this Agreement. At a minimum, the Servicer Subservicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer Subservicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer Subservicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer Subservicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer Subservicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Trust is named as an additional loss payee, the Servicer Subservicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserTrust.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser or its designee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing Practices and the terms of this AgreementPractices. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.. Subsection 11.26

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Owner prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, with respect to claims greater than $10,000, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to to, requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Accounta suspense account. If the Purchaser Owner is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserOwner.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Owner prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Accounta suspense account. If the Purchaser Owner is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserOwner.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Lender or its designee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor Borrower to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Customary Servicing Practices Procedures and the terms of this Agreementapplicable Loan Documents. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow AccountAccounts. If the Purchaser Lender is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserLender.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: : (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; ; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; ; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $10,000, at a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Company prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreementapplicable Mortgage Loan File. At a minimum, the The Servicer shall comply with the CMHC Guide and the NHA and, to the extent they do not contravene the CMHC Guide and NHA, with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) 2.14.1 the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) 2.14.2 the Servicer shall take all steps necessary to preserve the priority of the lien of securing the MortgageMortgage Loan, including, but not limited to to, requiring waivers or releases with respect to mechanics' and materialmen's liensliens or legal hypothecs in favour of the persons having taken part in the renovation of the Mortgaged Property; (iii) 2.14.3 the Servicer shall verify that the Mortgage Loan is not in default; and (iv) 2.14.4 pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Company is named as an additional loss payeemortgagee, the Servicer is hereby empowered to shall, in accordance with CMHC Guide and the NHA, endorse any loss draft issued in respect of such a claim in the name of the PurchaserCompany.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Master Servicer or the Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the any Mortgagor to be applied to the restoration or repair of the any Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Issuing Entity is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserIssuing Entity.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Master Servicer or the Indenture Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the any Mortgagor to be applied to the restoration or repair of the any Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Trust is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserTrust.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Owner prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At Xxxxxxxxx.Xx a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Accounta suspense account. If the Purchaser Owner is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserOwner.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Master Servicer or the Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the any Mortgagor to be applied to the restoration or repair of the any Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Issuing Entity is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserIssuing Entity.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Owner prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementApplicable Requirements. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the The Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Accounta suspense account. If the Purchaser Owner is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserOwner.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and (without regard to the terms of this AgreementFannie Mae Guides). At For claims greater than $15,000, at a minimum, the Servicer minimum xxx Xxrvicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Owner prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this Agreement. At a minimum, the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Accounta suspense account. If the Purchaser Owner is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserOwner.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser Master Servicer or the Indenture Trustee prior to releasing any Insurance Proceeds or Condemnation Proceeds to the any Mortgagor to be applied to the restoration or repair of the any Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (ia) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (iib) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' ’ and materialmen's ’s liens; (iiic) the Servicer shall verify that the Mortgage Loan is not in default; and (ivd) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser Issuer is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the PurchaserIssuer.

Restoration of Mortgaged Property. The Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At For claims greater than $15,000, at a minimum, minimum the Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to to, requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.

Restoration of Mortgaged Property. The Interim Servicer need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices and the terms of this AgreementPractices. At a minimum, the Interim Servicer shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds: (i) the Interim Servicer shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto; (ii) the Interim Servicer shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics' and materialmen's liens; (iii) the Interim Servicer shall verify that the Mortgage Loan is not in default; and (iv) pending repairs or restoration, the Interim Servicer shall place the Insurance Proceeds or Condemnation Proceeds in the Escrow Account. If the Purchaser is named as an additional loss payee, the Interim Servicer is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.