Blanket Hazard Insurance. In the event that the Servicer shall obtain and maintain a blanket policy with a Qualified Insurer insuring against fire and hazards of extended coverage on all of the Mortgage Loans, then, to the extent such policy names the Owner as loss payee and provides coverage in an amount equal to the amount required under Section 4.10, and otherwise complies with the requirements of the Section 4.10, the Servicer shall be deemed conclusively to have satisfied its obligations under Section 4.10, it being understood and agreed that such blanket policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, deposit in the Custodial Account the difference, if any, between the amount that would have been payable under a policy complying with Section 4.10 and the amount paid under such blanket policy. Upon the request of the Owner, the Servicer shall cause to be delivered to the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Owner
Blanket Hazard Insurance. In the event that the Servicer shall obtain and maintain a blanket policy with a Qualified Insurer insuring against fire and hazards of extended coverage on all of the Mortgage Loans and provides coverage in an amount equal to the amount required under Section 4.10, and otherwise complies with the requirements of Section 4.10, the Servicer shall be deemed conclusively to have satisfied its obligations under Section 4.10, it being understood and agreed that such blanket policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, deposit in the Custodial Account the difference, if any, between the amount that would have been payable under a policy complying with Section 4.10 and the amount paid under such blanket policy. Upon the request of the Owner, the Servicer shall cause to be delivered to the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days prior written notice to the Owner.
Blanket Hazard Insurance. Section 4.12 Fidelity Bond, Errors and Omissions Insurance
Blanket Hazard Insurance. 92 16.3.1. Blanket Hazard Insurance Requirement.........................92 16.3.2. Blanket Hazard Insurance Coverage............................92 16.3.3. Blanket Hazard Insurance Deductible..........................92 Section 16.4 Common Area Comprehensive General Liability (CGL) Insurance...92 16.4.1. Common Area CGL Insurance Requirement........................92 16.4.2. Common Area CGL Insurance Coverage...........................93 Section 16.5 Owners' Association Fidelity Insurance........................93 16.5.1. Owners' Association Fidelity Insurance Requirement...........93 16.5.2. Owners' Association Fidelity Insurance Coverage..............93
Blanket Hazard Insurance. 89 16.3.1. Blanket Hazard Insurance Requirement.........................89 16.3.2. Blanket Hazard Insurance Coverage............................89 16.3.3. Blanket Hazard Insurance Deductible..........................89 Section 16.4 Common Area Comprehensive General Liability (CGL) Insurance..89 16.4.1. Common Area CGL Insurance Requirement........................89 16.4.2. Common Area CGL Insurance Coverage...........................90 Section 16.5 Owners' Association Fidelity Insurance.......................90 16.5.1. Owners' Association Fidelity Insurance Requirement...........90 16.5.2. Owners' Association Fidelity Insurance Coverage..............90 Section 16.6 Blanket Flood Insurance......................................90 16.6.1. Blanket Flood Insurance Requirement..........................90 16.6.2. Blanket Flood Insurance Coverage.............................90 16.6.3. Blanket Flood Insurance Deductible...........................91
Blanket Hazard Insurance. In the event that the Servicer or the Subservicer shall obtain and maintain a blanket policy with an insurer acceptable under the Servicing Standard insuring against fire and hazards of extended coverage on all of the Mortgage Loans, then, to the extent such policy names the Servicer or the Subservicer as loss payee and provides coverage in an amount equal to the amount required under Section 4.10 hereof, and otherwise complies with the requirements of Section 4.10 hereof, the Servicer shall be deemed conclusively to have satisfied its obligations under Section 4.10 hereof, it being understood and agreed that such blanket policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10 hereof, and there shall have been a loss which would have been covered by such policy, the Servicer shall, or shall cause the Subservicer to, deposit into the Custodial Account the difference, if any, between the amount that would have been payable under a policy complying with Section 4.10 hereof and the amount paid under such blanket policy. Upon the request of the Master Servicer, the Servicer shall cause to be delivered to the Master Servicer a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without thirty days prior written notice to the Master Servicer.
Blanket Hazard Insurance. 88 16.3.1. Blanket Hazard Insurance Requirement........................88
Blanket Hazard Insurance
