Common use of Mortgage Clause Clause in Contracts

Mortgage Clause. The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of pay- ment will be the same as the order of precedence of the mortgages. If we deny your claim, that ▇▇- ▇▇▇▇ will not apply to a valid claim of the mortgagee, if the mortgagee: a. Notifies us of any change in ownership, occu- pancy or substantial change in risk of which the mortgagee is aware; b. Pays any premium due under this policy on demand if you have neglected to pay the pre- mium; and c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions relating to Appraisal, Suit Against Us and Loss Pay- ment apply to the mortgagee. a. We are subrogated to all the rights of the mort- gagee granted under the mortgage on the property; or b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any ac- crued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the ▇▇▇▇- ▇▇▇▇ debt.

Mortgage Clause. The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of pay- ment will be the same as the order of precedence of the mortgages. If we deny your claim, that ▇▇- ▇▇▇▇ will not apply to a valid claim of the mortgagee▇▇▇▇▇▇- ▇▇▇, if the mortgagee: a. Notifies us of any change in ownership, occu- pancy or substantial change in risk of which the mortgagee is aware; b. Pays any premium due under this policy on demand if you have neglected to pay the pre- miumpremium; and c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions relating to Appraisal, Suit Against Us and Loss Pay- ment apply to the mortgagee. a. We are subrogated to all the rights of the mort- gagee mortgagee granted under the mortgage on the property; or b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any ac- crued accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the ▇▇▇▇- ▇▇▇▇ mortgage debt.

Mortgage Clause. The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of pay- ment will be the same as the order of precedence of the mortgages. If we deny your claim, that ▇▇- ▇▇▇▇ will not apply to a valid claim of the mortgagee▇▇▇▇▇▇- ▇▇▇, if the mortgagee: a. Notifies us of any change in ownership, occu- pancy or substantial change in risk of which the mortgagee is aware; b. Pays any premium due under this policy on demand if you have neglected to pay the pre- mium; and c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions relating to Appraisal, Suit Against Us and Loss Pay- ment apply to the mortgagee. a. We are subrogated to all the rights of the mort- gagee granted under the mortgage on the property; or b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any ac- crued accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the ▇▇▇▇- ▇▇▇▇ debt.

Mortgage Clause. The word "mortgagee" includes trustee. trustee and lienholder. a. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order or- der of pay- ment payment will be the same as the order of precedence of the mortgages. . b. If we deny your claim, that ▇▇- ▇▇▇▇ denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee: a. (1) Notifies us of any change in ownership, occu- pancy occupancy or substantial change in risk of which the mortgagee is aware;. b. (2) Pays any premium due under this policy on demand if you have neglected to pay the pre- miumpremium; and c. (3) Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions relating to Appraisal, Suit Against Us and Loss Pay- ment Payment apply to the mortgagee. a. c. If we decide to cancel or not to renew this pol- icy, the mortgagee will be notified at least 10 days before the date cancellation or nonre- newal takes effect. d. If we pay the mortgagee for any loss and deny payment to you: (1) We are subrogated to all the rights of the mort- gagee mortgagee granted under the mortgage on the property; or b. (2) At our option, we may pay to the mortgagee ▇▇▇▇▇▇- ▇▇▇ the whole principal on the mortgage plus any ac- crued accrued interest. In this event, we . e. Subrogation will receive a full assignment and transfer not impair the right of the mortgage and all securities held as collateral mortgagee to recover the ▇▇▇▇- ▇▇▇▇ debtfull amount of the mortgagee's claim.