Common use of Original Policies Clause in Contracts

Original Policies. Borrower shall deliver to Lender (i) original or certified copies of all policies (and renewals) required under this Section 3.06 and (ii) receipts evidencing payment of all premiums on such policies at least within fifteen (15) days of their expiration. If original and renewal policies are unavailable or if coverage is under a blanket policy, then Borrower shall deliver duplicate originals or, if duplicate originals are unavailable or Lender determines that duplicate originals are not necessary, (1) an MBA Evidence of Insurance - Commercial Property form certificate (the “MBA Form”) (or, until such time as the MBA Form is available in the Property State, an original certificate in form substantially similar to the XXXXX 28 (2006) certificate) with respect to all insurance coverage required under Section 3.06(a) above (or equivalent certificates acceptable to Lender; provided, however, that any certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence, in which case Borrower shall also provide a binder issued by a licensed insurance broker or insurance carrier), and (2) an original XXXXX 25 certificate with respect to all insurance coverage required under Section 3.06(b) above (or equivalent certificates acceptable to Lender; provided, however, that any certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence) evidencing that such policies are in full force and effect, together with certified copies of the original policies. Without limiting Lender’s other rights with respect to the foregoing obligations, if, within ten (10) days after the expiration of the current applicable policy, Lender has not received the foregoing items in form and substance acceptable to Lender (as being in compliance with the terms of this Agreement), then Lender may retain a commercial property insurance consultant to assist Lender in obtaining adequate evidence that the required insurance coverage is in effect, in which event Borrower shall (i) cooperate with such consultant in confirming that adequate evidence that the required insurance coverage is in effect, and (ii) pay all of the costs and expenses of such consultant.

Original Policies. Borrower shall deliver to Lender (i) original or certified copies of all policies (and renewals) required under this Section 3.06 and (ii) receipts evidencing payment of all premiums on such policies (or premiums then due under an installment payment plan) at least within fifteen ten (1510) days of prior to their expiration. If original and renewal policies are unavailable or if coverage is under a blanket policy, then Borrower shall deliver duplicate originals originals, or, if duplicate originals are unavailable or Lender determines that duplicate originals are not necessaryunavailable, (1) an MBA Evidence of Insurance - Commercial Property form certificate (the “MBA Form”) (or, until such time as the MBA Form is available in the Property State, an original certificate in form substantially similar to the XXXXX 28 (2006) certificate) with respect to all insurance coverage required under Section 3.06(a) above (or equivalent certificates acceptable to Lender; provided, however, that any certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence, in which case Borrower shall also provide a binder issued by a licensed insurance broker or insurance carrier), and (2) an original XXXXX 25 certificate with respect to all insurance coverage required under Section 3.06(b) above (or equivalent certificates acceptable to Lender; provided, however, that any property insurance certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence, unless certificates containing such language become prevailing industry norm for property insurance certificates) evidencing that such policies are in full force and effect, together with certified copies of the original policies. Without limiting Lender’s other rights with respect to the foregoing obligations, if, within ten (10) days after prior to the expiration of the current applicable policy, Lender has not received the foregoing items in form and substance acceptable to Lender (as being in compliance with the terms of this AgreementInstrument), then Lender may retain a commercial property insurance consultant to assist Lender in obtaining adequate evidence that the required insurance coverage is in effect, in which event Borrower shall (i) cooperate with such consultant in confirming that adequate evidence that the required insurance coverage is in effect, and (ii) pay all of the reasonable costs and expenses of such consultant.

Original Policies. Borrower shall deliver to Lender (i) original or certified copies of all policies (and renewals) required under this Section 3.06 and (ii) receipts evidencing payment of all premiums on such policies at least within fifteen (15) days of their expiration3.06. If original and renewal policies are unavailable or if coverage is under a blanket policy, then Borrower shall deliver duplicate originals or, if duplicate originals are unavailable or Lender determines that duplicate originals are not necessary, (1i) an MBA Evidence of Insurance - Commercial Property form certificate (the “MBA Form”) (or, until such time as the MBA Form is available in the Property State, or an original certificate in form substantially similar to the XXXXX 28 (20062014/01) certificate) certificate with an authorized representative’s signature issued prior to Lender’s receipt of the insurance policy, along with an insurance binder acceptable to Lender with respect to all insurance coverage required under Section 3.06(a) above (or equivalent certificates acceptable to Lender; provided, however, that any certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence, in which case Borrower shall also provide a binder issued by a licensed insurance broker or insurance carrier), and (2ii) an original XXXXX 25 certificate with respect to all insurance coverage required under Section 3.06(b) above (or equivalent certificates acceptable to Lender; provided, however, that any certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence) evidencing that such policies are in full force and effect, together with certified copies of the original policies. Without limiting Lender’s other rights with respect to the foregoing obligations, if, within ten five (105) days after prior to the expiration of the current applicable policy, Lender has not timely received the foregoing items required under this Section 3.06(d) in form and substance acceptable to Lender (as being in compliance with the terms of this Agreement), then Lender may retain a commercial property insurance consultant to assist Lender in obtaining adequate evidence that the required may, but shall not be obligated to, purchase forced placed insurance coverage is sufficient to provide insurance satisfying the coverage requirements under the terms of this Agreement at Borrower’s expense (which expense will be in effectaddition to and may be more than the cost of insurance that Borrower may be able to obtain on its own) to cover Lender’s interest in the Property, in which event Borrower shall (i) cooperate with such consultant in confirming that adequate evidence that the required insurance coverage is in effectmay, and (ii) pay all of the costs and expenses of such consultantbut need not, protect Borrower’s interest.

Original Policies. Borrower shall deliver to Lender (i) original or certified copies of all policies (and renewals) required under this Section 3.06 within twenty-one (21) days after the expiration date of the current applicable policy, (ii) insurance binders evidencing insurance coverage is in effect for Borrower’s Individual Property as required under this Section 3.06 at least ten (10) days prior to the expiration date of the current applicable policy, and (iiiii) receipts evidencing payment of all premiums on such policies at least within fifteen ten (1510) days prior to the expiration date of their expirationthe current applicable policy. If original and renewal policies are unavailable or if coverage is under a blanket policy, then Borrower shall deliver duplicate originals or, if duplicate originals are unavailable or Lender determines that duplicate originals are not necessaryunavailable, (1) an MBA Evidence of Insurance - Commercial Property form certificate (the “MBA Form”) (or, until such time as the MBA Form is available in the Property State, an original certificate in form substantially similar to the XXXXX 28 (20062003/10) certificate) with respect to all insurance coverage required under Section 3.06(a) above (or equivalent certificates acceptable to Lender; provided, however, that any certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence, in which case Borrower shall also provide a binder issued by a licensed insurance broker or insurance carrier), and (2) an original XXXXX 25 certificate with respect to all insurance coverage required under Section 3.06(b) above (or equivalent certificates acceptable to Lender; provided, however, that any certificate containing language to the effect that the certificate is provided “for information only” shall not qualify as adequate evidence) evidencing that such policies are in full force and effect, together with certified copies of the original policies. Without limiting Lender’s other rights with respect to the foregoing obligations, if, within ten (10) days after prior to the expiration of the current applicable policy, Lender has not timely received the foregoing items required under this Section 3.06(d)(ii) and 3.06(d)(iii) in form and substance acceptable to Lender (as being in compliance with the terms of this Agreement), then Lender may may, but shall not be obligated to, (i) retain a commercial property insurance consultant to assist Lender in obtaining adequate evidence that the required insurance coverage is in effect, in which event Borrower shall (iA) cooperate with such consultant in confirming that adequate evidence that the required insurance coverage is in effect, and (iiB) pay all of the costs and expenses of such consultant, and/or (ii) purchase forced placed insurance coverage sufficient to provide insurance satisfying the coverage requirements under the terms of this Agreement at Borrower’s expense (which expense will be in addition to and may be more than the cost of insurance that Borrower may be able to obtain on its own) to cover the Lender’s interest in the Property, which insurance may, but need not, protect Borrower’s interest.