Uninsured Losses. The Servicer must take the following actions in the event of loss or damage to any Mortgaged Property caused by an earthquake, flood, tornado or other natural disaster immediately following, the earlier to occur of (x) its notification or discovery of such loss or damage or (y) the time at which the Servicer reasonably should have known of such loss or damage in the exercise of Prudent Servicing Practices:
Appears in 77 contracts
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar14 Trust)