Common use of FAILURE TO COLLECT PROCEEDS Clause in Contracts

FAILURE TO COLLECT PROCEEDS. Beneficiary shall not be held --------------------------- responsible for (i) any failure to collect any insurance proceeds due under the terms of any policy, regardless of the cause of such failure, (ii) the amount of any such proceeds ultimately paid, regardless of any negotiation by Beneficiary of such amount, or (iii) any use by Trustor of such proceeds as Beneficiary may pay over to Trustor.

FAILURE TO COLLECT PROCEEDS. Beneficiary shall not be held --------------------------- responsible for (i) any failure to collect any insurance proceeds due under the terms of any policycondemnation proceeds, regardless of the cause of such failure, (ii) the amount of any such proceeds ultimately paid, regardless of any negotiation by Beneficiary of such amount, or (iii) any use by Trustor of such proceeds as Beneficiary may pay over to Trustor.