Common use of Flood Certification Contract Clause in Contracts

Flood Certification Contract. Except with respect to the Mortgage Loans set forth on Annex 4 to the related Acknowledgment and Conveyance Agreement, the Seller has obtained a life of loan, transferable flood certification contract for each Mortgage Loan with an Approved Flood Policy Insurer and such contract is assignable to the Purchaser or the Purchaser’s designee without cost;