Common use of Maintenance of PMI Policy; Claims Clause in Contracts

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the Servicer shall, to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this Agreement, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. (a) With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issuedLoan, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of valueconforming to Xxxxxx Xxx requirements, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the Servicer shall, to the extent permitted by the applicable Mortgage Loan Documents and Accepted Servicing Practices, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this Agreement, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan was originated with a loan-to-value ratio in excess an original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Seller shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Seller shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Seller shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Seller shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Seller determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Seller shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Seller would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer Seller shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Seller shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer seller agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer Seller under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, without any cost to the extent permitted by Accepted Servicing PracticesOwner, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 7567% (or such other percentage as stated in the related Acknowledgment Agreement) of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy, at substantially the same fee level. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 5.02, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to Except for the Pledged Asset Mortgage Loans, for each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer shall, without any cost to the extent permitted by Accepted Servicing Practices, Owner maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall, in accordance with Accepted Servicing Practices, determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Owner and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect In the event that the Servicer’s rights hereunder are terminated pursuant to each Mortgage Loan covered by a PMI Policy or LPMI Policy, Section 10.01 the Servicer shall take all such actions pay any premiums on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such each LPMI Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of (which may include a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in nonone-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect time lump sum to the related LPMI provider to continue the related LPMI Policy) until the applicable Mortgage LoanLoans have been paid in full or otherwise liquidated or another entity acceptable to the insurers of such LPMI Policy undertakes to pay such LPMI premiums. The In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Servicer’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which covered by a PMI Policy is both required and has been issuedPolicy, as set forth on the Mortgage Loan Schedule, the Servicer shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of valuePolicy, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until for the loan-to-value ratio term of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable lawLoan. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With respect to For each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.Mortgage

Maintenance of PMI Policy; Claims. With Except as set forth on the respective Mortgage Loan Schedule, with respect to each First Lien Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted First Lien Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy or Lender Paid Mortgage Insurance Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and as is required by the Underwriting Guidelines. The Company shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, at least until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% %, or PMI can otherwise no longer be mandated pursuant to applicable lawsuch amount as required by Applicable Law. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a qualified insurer, the Company shall determine whether recoveries under the PMI Policy or Lender Paid Mortgage Insurance Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy or Lender Paid Mortgage Insurance Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another qualified insurer a replacement insurance policy. The Servicer Company will maintain or cause to be maintained in full force and effect any LPMI Policy issued by a Qualified Insurer with respect to each Mortgage Loan for which such coverage is in existence or is obtained. The Company shall not take any action which would result in noncoverage under any applicable PMI Policy or Lender Paid Mortgage Insurance Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSubsection 6.1, the Servicer Company shall promptly notify the insurer under the related PMI Policy or Lender Paid Mortgage Insurance Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or Lender Paid Mortgage Insurance Policy, and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy or Lender Paid Mortgage Insurance Policy. If such PMI Policy or Lender Paid Mortgage Insurance Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy or Lender Paid Mortgage Insurance Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Lender Paid Mortgage Insurance Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy Lender Paid Mortgage Insurance Policy, and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Lender Paid Mortgage Insurance Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.6, any amounts collected by the Servicer Company under any PMI Policy or LPMI Lender Paid Mortgage Insurance Policy shall be deposited in the Collection Escrow Account, subject to withdrawal pursuant to Section 3.054.7.

Maintenance of PMI Policy; Claims. (a) With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issuedLoan, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to Except in the case of a Pledged Asset Mortgage Loan, for each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. In the event that the Company's rights hereunder are terminated pursuant to Section 10.01 the Company shall pay any premiums on each LPMI Policy (which may include a one-time lump sum to the related LPMI provider to continue the related LPMI Policy) until the applicable Mortgage Loans have been paid in full or otherwise liquidated or another entity acceptable to the insurers of such LPMI Policy undertakes to pay such LPMI premiums.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan with a loan-to-value ratio in excess has original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of over 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, to the extent permitted by Accepted Servicing Practices, shall maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Owner and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Seller shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Seller shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Seller shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Seller shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Seller determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Seller shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Seller, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer Seller shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Seller shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Seller agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer Seller under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With Except where disclosed to the Purchaser on the related Mortgage Loan Schedule, with respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Seller shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Seller shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Seller shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Seller shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Seller determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Seller shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Seller would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer Seller shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Seller shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Seller agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer Seller under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan originated prior to July 29, 1999, with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80%. If a Mortgage Loan was originated on or after July 29, 1999, and the original LTV is 80% or greater, the Company shall, without any cost to the Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI can otherwise no longer be mandated Policy insuring the portion over 78% until terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. (a) With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issuedLoan, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of valueconforming to Fxxxxx Mxx requirements, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to each Except in the case of a Pledged Asset Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issuedLoan, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced covered by an LPMI Policy, the Company shall pay all premiums from its own funds, without reimbursement. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With Except as set forth on the Mortgage Loan Schedule, with respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With Each Mortgage Loan has an LTV as indicated on the Mortgage Loan Schedule and Electronic Data File. Except as indicated on the Electronic Data File, with respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy or LPMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy and LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy or LPMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy or LPMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or LPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy or LPMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy or LPMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With Except as set forth on the Mortgage Loan Schedule, with respect to each Mortgage Loan with a loan-to-value ratio in excess of an LTV greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan originated prior to July 29, 1999, with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80%. If a Mortgage Loan was originated on or after July 29, 1999, and the original LTV is 80% or greater, the Company shall, without any cost to the Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI can otherwise no longer be mandated Policy insuring the portion over 78% until terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in fashionin accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which subject to a PMI Policy is both required and has been issuedPolicy, as set forth on the Mortgage Loan Schedule or Data File, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a such PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced covered by an LPMI Policy, the Company shall pay all premiums from its own funds, without reimbursement. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the The Servicer shall, to the extent permitted by Accepted Servicing Practices, shall maintain or cause the Mortgagor to maintain in full force and effect effect, with respect to each Mortgage Loan with an existing PMI Policy on the Effective Date, a PMI Policy insuring that the portion over 78% until terminated pursuant to the Home Owners Protection Act of 1998, 12 U.S.C. § 4901, et seq. (if applicable) or the terms of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or related PMI can otherwise no longer be mandated pursuant to applicable lawPolicy. In the event that such PMI Policy shall be terminatedterminated other than as required by Applicable Requirements or the terms of the PMI Policy, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Owners and the Mortgagor, if required, and make commercially reasonable efforts obtain from another Qualified Insurer a replacement insurance policy at substantially the same fee level, to the extent commercially available; provided, however, that the Servicer shall promptly notify the Owners in the event the Servicer is unable to obtain such replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.1, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided aboveabove subject to reimbursement as a Servicing Advance in accordance with the terms of this Agreement. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the applicable Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy policy and to enforce the applicable Owner’s rights under such Policypolicy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the applicable Owner to do anything it deems appropriate or desirable act in accordance with the Applicable Requirements in connection with the servicing, maintenance and administration of such Policypolicy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy policy of any loss which, but for actions of the any Servicer, would have been covered thereunder. The If the Qualified Insurer fails to pay a claim in whole or in part under a PMI Policy as a result of a breach by Servicer of its obligations hereunder or under such policy, Servicer shall be required to deposit in the Custodial Account on or prior to the next succeeding Remittance Date an amount equal to such unpaid claim from its own funds without any rights to reimbursement from Owners. Servicer shall cooperate with the PMI insurers Insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the OwnerOwners, claims to the insurer Insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.4, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.5.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Purchaser maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With Except for the Pledged Asset Mortgage Loans, with respect to each Mortgage Loan with a loan-to-value ratio in excess of an LTV greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which with a PMI Policy is both required and has been issued(a "PMI Loan"), the Servicer Seller shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage PMI Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage PMI Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Seller shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Seller shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Seller shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Seller determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Seller shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Seller would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer Seller shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Seller shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer seller agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage PMI Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer Seller under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With respect to Except as indicated on the related Data File, for each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With Except as indicated on the related Data File, with respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 U.S.C ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine, in accordance with Accepted Servicing Practices, whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each any Mortgage Loan with a loan-to-value ratio in excess of 80% for which subject to a PMI Policy is both required and has been issuedor LPMI Policy as indicated on the Mortgage Loan Schedule, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 79% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion and in accordance with the terms of such PMI Policy the applicable policy or LPMI Policy andAgency requirements, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy guaranty shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With Except as set forth on the Mortgage Loan Schedule, with respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Seller shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Seller shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Seller shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Seller shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Seller determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Seller shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Seller would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer Seller shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Seller shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Seller agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer Seller under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the Servicer shall, to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to The Company shall maintain in full force and effect a any PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of 80% for which a PMI Policy is both required and has been issuedor greater at the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Purchaser maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan Loan, with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of 80% for which a PMI Policy is both required and has been issuedor greater at the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Purchaser maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy or LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy or LPMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy or LPMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or LPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy or LPMI Policy. If such PMI Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy or LPMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Trustee maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Trustee and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer will maintain or cause to be maintained in full force and effect any PPMI Policy issued by a mortgage insurer with respect to each Mortgage Loan for which such coverage is in existence or is obtained. The Trustee shall notify the Servicer of any Mortgage Loan covered under an PPMI Policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy or PPMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 5.1, the Servicer shall promptly notify the insurer under the related PMI Policy or PPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or PPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy or PPMI Policy. If such PMI Policy or PPMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy or PPMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerTrustee, claims to the insurer under any PMI Policy or LPMI PPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI PPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI PPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.4, any amounts collected by the Servicer under any PMI Policy or LPMI PPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.6.

Maintenance of PMI Policy; Claims. With respect to Except where the Guidelines exempt certain Eligible Mortgage Loans from this requirement, for each Eligible Mortgage Loan (other than FHA Loans, VA Loans, Uninsured Loans, HELOCs and Closed End Second Mortgage Loans) with a loanLoan-to-value ratio Value Ratio in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, without any cost to the extent permitted by Accepted Servicing PracticesAgent or any Principal, maintain or cause the Mortgagor Borrower to maintain in full force and effect a PMI Policy insuring that portion of the Eligible Mortgage Loan in excess of 7580% of value, and shall pay or shall cause the Mortgagor Borrower to pay the premium thereon on a timely basis, until the loanLoan-to-value ratio Value Ratio of such Eligible Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable lawless. In the event that such PMI Policy shall be terminated, the Servicer shall attempt shall, prior to any such termination, obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Agent and the Borrower, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 5.1 hereof, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as Servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, present claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Defaulted Loan. Pursuant to Section 3.044.5 hereof, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.054.6 hereof.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued85%, the Servicer shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law85%. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting with respect to a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan was originated with a loan-to-value ratio in excess an original LTV of greater than 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the The Servicer shall, to the extent permitted by Accepted Servicing Practices, shall maintain or cause the Mortgagor to maintain in full force and effect effect, with respect to each Mortgage Loan with an existing PMI Policy on the Effective Date, a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Home Owners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Owner and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.1, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of 80% for which a PMI Policy is both required and has been issuedor greater at the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of for which the original LTV is 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Seller shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Seller shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Seller shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Seller shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Seller determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Seller shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Seller would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 12.01, the Servicer Seller shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Seller shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Seller agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.0410.11, any amounts collected by the Servicer Seller under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.0510.10.

Maintenance of PMI Policy; Claims. With Except as indicated on the Data File, with respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine in accordance with Accepted Servicing Practices whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With Except as set forth on the respective Mortgage Loan Schedule, with respect to each First Lien Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action <PAGE> as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted First Lien Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Conventional Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion and in accordance with the terms of such PMI Policy the applicable policy or LPMI Policy andAgency requirements, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy guaranty shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Purchaser maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Seller shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS Section.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Seller shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Seller shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Seller shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Seller determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Seller shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Seller would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 12.01, the Servicer Seller shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Seller shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Seller agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.0410.11, any amounts collected by the Servicer Seller under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.0510.10.

Maintenance of PMI Policy; Claims. With Except in the case of a Pledged Asset Mortgage Loan, with respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. In the event that the Company's rights hereunder are terminated pursuant to Section 10.01 the Company shall pay any premiums on each LPMI Policy (which may include a one-time lump sum to the related LPMI provider to continue the related LPMI Policy) until the applicable Mortgage Loans have been paid in full or otherwise liquidated or another entity acceptable to the insurers of such LPMI Policy undertakes to pay such LPMI premiums.

Maintenance of PMI Policy; Claims. The Servicer shall comply with all provisions of applicable state and federal law relating to the cancellation of, or collection of premiums with respect to, PMI Policies, including, but not limited to, the provisions of the Homeowners Equity Protection Act of 1998, and all regulations promulgated thereunder, as amended from time to time. With respect to each Mortgage Loan with a loan-to-loan to value ratio at origination in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, to the extent permitted by Accepted Servicing Practices, shall maintain or cause the Mortgagor to maintain (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance) in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of valuePolicy, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy, at substantially the same fee level. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement agreements entered into or to be entered into pursuant with respect to this Agreementa Mortgage Loan, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerTrustee, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any Any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.053.04. If the Qualified Insurer fails to pay a claim under a PMI Policy solely as a result of a breach by the Servicer or subservicer of its obligations hereunder or under such Policy, the Servicer shall be required to deposit in the Custodial Account on or prior to the next succeeding Remittance Date an amount equal to such unpaid claim from its own funds without any rights to reimbursement from the Trust Fund.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of 80% for which a PMI Policy is both required and has been issuedor greater at the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Purchaser maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy or LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy or LPMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy or LPMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or LPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy or LPMI Policy. If such PMI Policy or LPMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy or LPMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With Except as indicated on the Electronic Data File, with respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each If a First Lien Mortgage Loan with a loan-to-value ratio in excess has original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With Except as set forth on the Data File, with respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreased to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to Except as indicated on the Mortgage Loan Schedule, for each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause Loans as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. In the event that the Company’s rights hereunder are terminated pursuant to Section 10.01 the Company shall pay any premiums on each LPMI Policy (which may include a one-time lump sum to the related LPMI provider to continue the related LPMI Policy) until the applicable Mortgage Loans have been paid in full or otherwise liquidated or another entity acceptable to the insurers of such LPMI Policy undertakes to pay such LPMI premiums.

Maintenance of PMI Policy; Claims. With respect to Except where the Guidelines exempt certain Eligible Loans from this requirement, for each Mortgage Eligible Loan (other than FHA Loans, VA Loans, Uninsured Loans and HELOCs) with a loanLoan-to-value ratio Value Ratio in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Eligible Loan in excess of 7580% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loanLoan-to-value ratio Value Ratio of such Mortgage Eligible Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable lawless. In the event that such PMI Policy shall be terminated, the Servicer shall attempt shall, prior to any such termination, obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Administrative Agent and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.1 hereof, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as Servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, present claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Defaulted Loan. Pursuant to Section 3.044.5 hereof, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.054.6 hereof.

Maintenance of PMI Policy; Claims. With respect to each If, as of the related Closing Date, a Mortgage Loan with a loan-to-value ratio has, in excess of 80% for which full force and effect, a PMI Policy is both required and has been issuedPolicy, the Servicer shall, to the extent permitted by Accepted Servicing Practices, shall maintain or cause the Mortgagor to maintain in full force and effect a such PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another a Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the Servicer shall, to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to The Company shall maintain in full force and effect a any PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to Except for the Pledged Asset Mortgage Loans, for each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause Loans as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. In the event that the Company’s rights hereunder are terminated pursuant to Section 10.01 the Company shall pay any premiums on each LPMI Policy (which may include a one-time lump sum to the related LPMI provider to continue the related LPMI Policy) until the applicable Mortgage Loans have been paid in full or otherwise liquidated or another entity acceptable to the insurers of such LPMI Policy undertakes to pay such LPMI premiums.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which and covered by a PMI Policy is both required and has been issued(as indicated on the related Mortgage Loan Schedule), the Servicer shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Servicer, would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of an original LTV greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of an LTV greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Purchaser maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC SS.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With (a)With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issuedLoan, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of valueconforming to Fannie Mae xxxxxxexxxts, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With The Subservicer will maintain or cause to be maintained in full force and effect any PPMI Policy issued by a mortgage insurer with respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a such coverage is in existence or is obtained. The Originator shall notify the Subservicer of any Mortgage Loan covered under an PPMI Policy. The Subservicer shall not take any action which would result in non-coverage under any applicable PMI Policy is both required and has or PPMI Policy of any loss which, but for the actions of the Subservicer would have been issuedcovered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 5.1, the Servicer shallSubservicer shall promptly notify the insurer under the related PMI Policy or PPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or PPMI Policy and shall take all actions which may be required by such insurer as a condition to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to maintain in full force and effect a continuation of coverage under such PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on or PPMI Policy. If such PMI Policy or PPMI Policy is terminated as a timely basis, until the loan-to-value ratio result of such Mortgage Loan is reduced to 80% assumption or substitution of liability, the Subservicer shall obtain a replacement PMI can otherwise no longer be mandated pursuant to applicable lawPolicy or PPMI Policy as provided below. In the event that such a PMI Policy shall be terminatedterminated other than as required by law, the Servicer Subservicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. The Servicer If the insurer shall not take any action which would result in noncoverage cease to be a Qualified Insurer, the Subservicer shall determine whether recoveries under any applicable the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Subservicer shall in no event have any loss whichresponsibility or liability for any failure to recover under the PMI Policy for such reason. If the Subservicer determines that recoveries are so jeopardized, but for it shall notify the actions of Master Servicer and the Servicer would have been covered thereunderMortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this Agreementits activities as subservicer, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Subservicer agrees to prepare and present, on behalf of itself and the OwnerTrust, claims to the insurer under any PMI Policy or LPMI PPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI PPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI PPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.4, any amounts collected by the Servicer Subservicer under any PMI Policy or LPMI PPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.6.

Maintenance of PMI Policy; Claims. With respect to Except for the Pledged Asset Mortgage Loans, for each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer shall, without any cost to the extent permitted by Accepted Servicing Practices, Owner maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that a portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall, in accordance with Accepted Servicing Practices, determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Owner and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect In the event that the Servicer's rights hereunder are terminated pursuant to each Mortgage Loan covered by a PMI Policy or LPMI Policy, Section 10.01 the Servicer shall take all such actions pay any premiums on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such each LPMI Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of (which may include a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in nonone-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect time lump sum to the related LPMI provider to continue the related LPMI Policy) until the applicable Mortgage LoanLoans have been paid in full or otherwise liquidated or another entity acceptable to the insurers of such LPMI Policy undertakes to pay such LPMI premiums. The In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Servicer's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% and for which a PMI Policy is both was required and has been issuedobtained at origination, the Servicer shall, to the extent permitted by Accepted Servicing Practices, shall maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. The If the insurer shall cease to be a Qualified Insurer, the Servicer shall not take any action which would result in noncoverage determine whether recoveries under any applicable the PMI Policy are jeopardized for reasons related to the financial condition of any loss whichsuch insurer, but for the actions of it being understood that the Servicer would shall in no event have been covered thereunderany responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Owner and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this Agreementits activities as servicer, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. (a) With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issuedLoan, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of valueconforming to Fxxxxx Mae requirements, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan was originated with a loan-to-value ratio in excess an original LTV of greater than 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Secation.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. (a) With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issuedLoan, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of valueconforming to Fannie Mae requirements, and shall pay or shall cause the Mortgagor to pay the tx xxx txx premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan with a loan-to-value ratio in excess has original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of over 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of 80% for which a PMI Policy is both required and has been issuedor greater at the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, without any cost to the extent permitted by Accepted Servicing PracticesOwner, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% the level that requires termination by any applicable law or PMI can otherwise no longer be mandated pursuant to applicable lawis eligible for termination under any existing investor requirements. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Owner and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Servicer, would have been covered thereunder. In in connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 4.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.05.

Maintenance of PMI Policy; Claims. With Except as set forth on the Mortgage Loan Schedule, with respect to each Mortgage Loan with a loan-to-value ratio in excess of an LTV greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With Except as set forth on the respective Mortgage Loan Schedule, with respect to each First Lien Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted First Lien Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of 80% for which a PMI Policy is both required and has been issuedor greater at the time of origination , the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 79% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS ss. 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of an LTV greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan with a loan-to-value ratio in excess has original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the related Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan was originated with a loan-to-value ratio in excess an original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS Section. 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of an LTV greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC $4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company's own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan with a loan-to-value ratio in excess has original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of over 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With The Servicer will maintain or cause to be maintained in full force and effect any PPMI Policy issued by a mortgage insurer with respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy such coverage is both required and has been issued, in existence or is obtained. The Originator shall notify the Servicer shall, to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the any Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI covered under an PPMI Policy. The Servicer shall not take any action which would result in noncoverage non-coverage under any applicable PMI Policy or PPMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 5.1, the Servicer shall promptly notify the insurer under the related PMI Policy or PPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or PPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy or PPMI Policy. If such PMI Policy or PPMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy or PPMI Policy as provided abovebelow. With respect to each Mortgage Loan covered by In the event that a PMI Policy or LPMI Policyshall be terminated other than as required by law, the Servicer shall take all obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such terminated PMI Policy. Except as expressly set forth hereinIf the insurer shall cease to be a Qualified Insurer, the Servicer shall have full authority on behalf of determine whether recoveries under the Owner PMI Policy are jeopardized for reasons related to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration financial condition of such Policy; provided insurer, it being understood that the Servicer shall not take in no event have any action responsibility or liability for any failure to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage recover under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of Policy for such reason. If the Servicer to which determines that recoveries are so jeopardized, it shall notify the Master Servicer has access and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. In connection with respect to its activities as servicer, the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerTrust, claims to the insurer under any PMI Policy or LPMI PPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI PPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI PPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.4, any amounts collected by the Servicer under any PMI Policy or LPMI PPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.6.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of 80% for which a PMI Policy is both required and has been issuedgrater at the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 79% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners-Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer shall, without any cost to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to Trust maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 U.S.C. §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Servicer determines that recoveries are so jeopardized, it shall notify the Master Servicer and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer will maintain or cause to be maintained in full force and effect any PPMI Policy issued by a mortgage insurer with respect to each Mortgage Loan for which such coverage is in existence or is obtained. The Master Servicer shall notify the Servicer of any Mortgage Loan covered under an PPMI Policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy or PPMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 5.1, the Servicer shall promptly notify the insurer under the related PMI Policy or PPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy or PPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy or PPMI Policy. If such PMI Policy or PPMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy or PPMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the OwnerTrust, claims to the insurer under any PMI Policy or LPMI PPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI PPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI PPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.4, any amounts collected by the Servicer under any PMI Policy or LPMI PPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.6.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which covered by a PMI Policy is both required and has been issuedPolicy, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a such PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC ss.4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the related Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess an LTV of greater than 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, value until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for originated prior to July 29, 1999, which is insured by a PMI Policy is both required and has been issuedPolicy, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80%. If a Mortgage Loan insured by a PMI Policy was originated on or after July 29, 1999, the Company shall, without any cost to the Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan over 78% or PMI can otherwise no longer be mandated of value until terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the The Servicer shall, to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to will maintain in full force and effect (a) Primary Mortgage Insurance Policies issued by a PMI Policy insuring that portion Qualified Insurer with respect to each Mortgage Loan for which such coverage was required at the time the loan was originated irrespective of the Mortgagor's faithful performance in the payment of the same and (b) LPMI Policies with respect to each Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, which has an LPMI Policy. Such coverage will be maintained until the loan-to-value ratio of such the current outstanding principal balance of the related Mortgage Loan to the Appraised Value of the related Mortgaged Property, based on the most recent appraisal of the Mortgaged Property performed by a qualified appraiser, such appraisal to be included in the Servicing File, is reduced to 80% an amount as permitted in the Fannie Mae Guide or PMI can otherwise no longer be mandated pursuant to applicable law. In the event Txx Xxxvicer will not cancel or refuse to renew any Primary Mortgage Insurance Policy that is required to be kept in force under this Agreement unless a replacement Primary Mortgage Insurance Policy or LPMI Policy for such PMI Policy shall be terminated, the Servicer shall attempt to obtain canceled or nonrenewed policy is obtained from another Qualified Insurer a comparable replacement policy, and maintained with a total coverage equal to the remaining coverage of such terminated PMI PolicyQualified Insurer. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Primary Mortgage Insurance Policy or LPMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer shall promptly notify the insurer under the related PMI Primary Mortgage Insurance Policy or LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI the Primary Mortgage Insurance Policy or LPMI Policy. If such PMI Primary Mortgage Insurance Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Primary Mortgage Insurance Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Private Mortgage Insurance Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Primary Mortgage Insurance Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.042.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.052.06.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan was originated with a loan-to-value ratio in excess an original LTV of greater than 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05. Any premiums payable on LPMI Policies will be paid from the Company’s own funds without reimbursement.

Maintenance of PMI Policy; Claims. With respect to Except for the Pledged Asset Mortgage Loans or as indicated on the related Data File, for each Mortgage Loan with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issuedat the time of origination, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain maintain, in full force and effect effect, a PMI Policy insuring that the portion of the unpaid principal balance of the Mortgage Loan in excess of 75% of value, and shall cause as to payment defaults. If the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 8078% or (ii) the PMI can Policy is otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 USC §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. With respect to each If a Mortgage Loan was originated with a loan-to-value ratio in excess an original LTV of 80% for which a PMI Policy is both required and has been issuedor greater, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS Section 4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.

Maintenance of PMI Policy; Claims. (a) With respect to each Mortgage Loan with a loan-to-value ratio LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Interim Servicer shall, in accordance with state and federal laws and without any cost to the extent permitted by Accepted Servicing PracticesPurchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% (or such other percentage as stated in the related Purchase Price and Terms Agreement) of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio LTV of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law%. In the event that such PMI Policy shall be terminated, the Interim Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy, at substantially the same fee level. If the insurer shall cease to be a Qualified Insurer, the Interim Servicer shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Interim Servicer shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Interim Servicer determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Interim Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Interim Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 2.01, the Interim Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Interim Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

Maintenance of PMI Policy; Claims. With respect to each Mortgage Loan Loan, with a loan-to-value ratio an LTV in excess of 80% for which a PMI Policy is both required and has been issued%, the Servicer Company shall, without any cost to the extent permitted by Accepted Servicing Practices, Purchaser maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that the portion of the Mortgage Loan in excess of 75over 78% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated terminated pursuant to applicable lawthe Homeowners Protection Act of 1998, 12 UCS §4901, et seq. In the event that such PMI Policy shall be terminatedterminated other than as required by law, the Servicer Company shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if’ required, and obtain from another Qualified Insurer a replacement insurance policy. The Servicer Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this AgreementSection 6.01, the Servicer Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer Company shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI PolicyIn connection with its activities as servicer, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer Company agrees to prepare and present, on behalf of itself and the OwnerPurchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.044.04, any amounts collected by the Servicer Company under any PMI Policy or LPMI Policy shall be deposited in the Collection Custodial Account, subject to withdrawal pursuant to Section 3.054.05.