EFFECTIVE INSURANCE. All flood, hazard and MI insurance policies remain in full force and effect.
EFFECTIVE INSURANCE. All flood, hazard, LGC, MIC and MI insurance policies remain in full force and effect.
EFFECTIVE INSURANCE. All required insurance policies have been issued by insurance companies rated, at the time the related Mortgage was closed, B+ or higher as determined by the then-current edition of Best's Key Rating Guide and remain in full force and effect. Seller has complied with all insurance contract obligations which, if not complied with, might have a material adverse effect on the Servicing. To the best of Seller's knowledge each building or other improvement located on the premises covered by each Mortgage is insured in the manner required under applicable mortgagee clauses against (i) loss or damage by fire and from such other insurable risks and against hazards as are set forth in the standard extended coverage form of endorsement, and (ii) such other hazards required by applicable Servicing Agreements, the related Master Servicer, Investor or Agency, if any. To the best of Seller's knowledge, all premiums for such insurance have been paid to date. Seller has no knowledge and has not received notice that any of the said buildings or other improvements have been affected in any substantial manner or suffered any material loss as a result of any fire, explosion, accident, strike, riot, war, Act of God or act of a public enemy.
EFFECTIVE INSURANCE. All required insurance policies, of whatever type, remain in full force and effect. The Seller has not engaged in, and has no knowledge of the mortgagor's having engaged in, any act or omission which would impair the coverage validity or binding effect of any such policies. There is in force with respect to each Mortgage Loan, as required by the applicable Agency, a hazard insurance policy that provides, at a minimum, for fire, windstorm, earthquake and extended coverage in an amount not less than the outstanding principal balance of the Mortgage Loan or the full insurable value of improvements, whichever is less. If required by the Flood Disaster Protection Act, each Mortgage Loan is covered by a flood insurance policy in an amount not less than the lesser of (i) the outstanding principal balance of the applicable Mortgage Loan or (ii) the maximum amount of insurance that is available under such Act. All individual insurance policies contain a standard mortgagee clause naming the Seller or the applicable Agency, and its successors and assigns, as mortgagee, and all premiums due and payable thereon have been paid. The Mortgage obligates the mortgagor thereunder to maintain hazard and/or flood insurance policies at the mortgagor's cost and expense, and on the mortgagor's failure to do so, authorizes the holder of the Mortgage to obtain and maintain such insurance at such mortgagor's cost and expense, and to seek reimbursement therefor from the mortgagor, if reimbursement is permitted under applicable law, Agency Requirements and the Mortgage Loan documents.
