Common use of Flood Coverage Clause in Contracts

Flood Coverage. Flood insurance subject to the National Flood Insurance Program in the event the Secured Property is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area within a flood plain or flood risk zone, or having special flood hazards as determined by Lender, and in which flood insurance has been made available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as the same may be amended, or any successor statutes, on such basis and in such amounts as shall be required by Lender;