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(ee) Other Insurance Policies. No action, inaction or event has occurredand no state of facts exists or has existed that has resulted or will result in the exclusionfrom, denial of, or defense to coverage under any applicable special hazard insurance policy,PMI insurance policy or bankruptcy bond, irrespective of the cause of such failure ofcoverage. In connection with the placement of any such insurance, no commission, fee, orother compensation has been or will be received by B/C or by any officer, director, oremployee of B/C or any designee of B/C or any corporation in which B/C or any officer,director, or employee had a financial interest at the time of placement of such insurance.(ff) Servicemembers Civil Relief Act. The borrower has not notified B/C,and B/C has no knowledge, of any relief requested or allowed to the borrower under theServicemembers Civil Relief Act of 2003.(gg) Appraisal. The mortgage file contains an appraisal of the relatedmortgaged property signed prior to the funding of the Mortgage Loan by a qualifiedappraiser, duly appointed by B/C, who had no interest, direct or indirect in the mortgagedproperty or in any loan made on the security thereof, and whose compensation is notaffected by the approval or disapproval of the Mortgage Loan, and the appraisal andappraiser both satisfy the requirements of Fannie Mae or Freddie Mac and Title XI of theFederal Institutions Reform, Recovery, and Enforcement Act of 1989 as amended and theregulations promulgated thereunder, all as in effect on the date the Mortgage Loan wasoriginated. As of the origination date, no appraisal is more than one hundred and twenty(120) days old.(hh) Disclosure Materials. The borrower has executed a statement to theeffect that the borrower has received all disclosure materials required by applicable law withrespect to the making of adjustable rate mortgage loans, and B/C maintains such statementin the mortgage file.(ii) Construction or Rehabilitation of mortgaged property. No MortgageLoan was made in connection with the construction or rehabilitation of a mortgaged propertyor facilitating the trade-in or exchange of a mortgaged property.(jj) No Defense to Insurance Coverage. No action has been taken or failedto be taken, no event has occurred and no state of facts exists or has existed on or prior tothe purchase date (whether or not known to B/C on or prior to such date) which hasresulted or will result in an exclusion from, denial of, or defense to coverage under anyprivate mortgage insurance (including, without limitation, any exclusions, denials ordefenses which would limit or reduce the availability of the timely payment of the fullamount of the loss otherwise due thereunder to the insured) whether arising out of actions,representations, errors, omissions, negligence, or fraud of B/C, the related borrower or anyparty involved in the application for such coverage, including the appraisal, plans andspecifications and other exhibits or documents submitted therewith to the insurer undersuch insurance policy, or for any other reason under such coverage, but not including thefailure of such insurer to pay by reason of such insurer’s breach of such insurance policy orsuch insurer’s financial inability to pay.(kk) Capitalization of Interest. The mortgage note does not by its termsprovide for the capitalization or forbearance of interest.(ll) No Equity Participation. No document relating to the Mortgage Loanprovides for any contingent or additional interest in the form of participation in the cash flowof the mortgaged property or a sharing in the appreciation of the value of the mortgagedproperty. The indebtedness evidenced by the mortgage note is not convertible to anownership interest in the mortgaged property or the borrower and B/C has not financed norInitials:________ BC App Ver. 7.7 10/06/2014 Page 28