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coWlete description of the teims of t -hese polic=ies, refeten— is <br />made to the provisions of the resp-ctive insurance Ix'Aicies and to <br />the provisions of the Origination A-lreement and the Ad-inist_rati^n <br />and Servic=ing Agieement:s relating to these policies. F.ach <br />Participant is required to obtain anti maintain an errors and <br />omissions policy, and fidelity bond in ar.�unt., required by GPeMA and <br />Fannie Mae for parties acting in their capacity under the Program: <br />FHA's authority to issue commitments to insure the Mortgage <br />Loan is subject to a statutory limit on the dollar amount of <br />commitments to insure that FHA may issue during a federal fiscal <br />year. No assurance can be given that FHA's authority to issue <br />commitments to insure aeries A Mortgage Loans will not have reached <br />its statutory ceiling for a fiscal year before it has issued a <br />commitment to insure with respect to some or all of the Series A <br />Mortgage Loans. See "PROGRAM ASSUMPTIONS AND BONDHOLDERS' RISKS" <br />herein. <br />Servicing of the Series A Mortgage Loans <br />The Servicer will service the Series A Mortgage Loans and will <br />have full power and authority, actino_ alone, to take such actions <br />as may be necessary to discharge its duties with respect to <br />servicing. The Servicer shall be entitled to a monthly servicing <br />fee, and, under certain circumstances, compensation from insurance <br />proceeds or liquidation proceeds. The Servicer shall be required <br />to pay all expenses incurred by it in connection with its servicing <br />activities under the Series A Servicing Agreement (including <br />maintenance of its errors and omissions insurance policy and <br />fidelity bond) and sherd riot be entitled to reimbursement therefor, <br />except Ars specifically provided in the Servicing Agreement. <br />The Service.- :.a required to perform all e)f its duties in <br />servicing Series A Mortgage Loans with due care, diligence and <br />reasonable proatptnesa and to use at least the same degree of care <br />in tservicing Series A Mortgage Loans as it employs in servicing <br />mortq.sge bens to confora to at least the minimum requirements <br />established by CBM and Fannie alae. The Servicer is also required <br />to furriirth all required reports in accordance with GUM and Fannie <br />t l!'A'rr tM Darier A PVC.—graft Administration and Servicing <br />f, at :1" Tit=s, the S+rvicer has genwral responsibility tar <br />OrUg the Program for and on behalt of the Aritharity, The <br />t.ilicies of th.- servioer as administrator include rev&owuq <br />~, +, <br />11 ..qa File it. ,rder t ietersins that all • have <br />r. It ted It. ?Taper s urn and that bawd upon snch <br />u, : , . = t i , ►p , t as ► Nort ge" Lroan q" 1 i t ias toys purcbsee <br />a► <br />