FORCED PLACEMENT OF INSURANCE. If the Borrower fails to comply with the requirements of this Section, the Lender may, at its discretion, procure any required insurance. Any premiums paid for such insurance, or the allocable portion of any premium paid by the Lender under a blanket policy for such insurance, shall be a demand obligation under this Deed of Trust, and any unearned premiums under such insurance shall comprise Insurance Proceeds and therefore a portion of the Property.
Appears in 6 contracts
Samples: Credit Agreement, Security Agreement (NNN Apartment REIT, Inc.), AmREIT, Inc.
FORCED PLACEMENT OF INSURANCE. If the Borrower fails to comply with the requirements of this Section, the Lender may, at its discretion, procure any required insurance. Any premiums paid for such insurance, or the allocable portion of any premium paid by the Lender under a blanket policy for such insurance, shall be a demand obligation under this Deed of TrustMortgage, and any unearned premiums under such insurance shall comprise Insurance Proceeds and therefore a portion of the Property.
Appears in 3 contracts
Samples: GTJ Reit, Inc., Oxford Residential Properties I LTD Partnership, Angeles Partners X
