Force Placed Insurance. A. Servicer shall not obtain force-placed insurance unless there is a reasonable basis to believe the borrower has failed to comply with to maintain property insurance. For escrowed accounts, Servicer shall continue to advance or insurance company cancels the existing policy. For purposes of this Section (VI), - means hazard insurance coverage obtained by Servicer on behalf of the owner or assignee of a mortgage loan that insures the property securing the loan. However, for purposes of this Section (VI), the term - Disaster Protection Act of 1973. the property securing a mortgage loan that protects the property against loss caused by fire, wind, flood, earthquake, theft, falling objects, freezing, and other similar hazards for which the owner or assignee of such loan requires insurance. B. Servicer shall not be construed as having a reasonable basis for obtaining force- placed insurance unless the requirements of this Section (VI) have been met. C. Servicer shall accept any reasonable form of written confirmation from a borrower include the existing insurance policy number along with the identity of, and contact information for, the insurance company or agent. D. All charges and coverage amounts related to force-placed insurance assessed to a borrower by or through Servicer must be bona fide and reasonable. E. Servicer shall make reasonable efforts to work with the borrower to continue or is a lapse in payment and the
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Sources: Settlement Agreement, Settlement Agreement