Common use of Risk of Loss, etc Clause in Contracts

Risk of Loss, etc. (a) The risk of loss or damage to the Mortgaged Property is on Borrower, and Lender will have no liability whatsoever for a decline in the Mortgaged Property’s value, for a failure to maintain the Policies, or for a failure to determine whether insurance in force is adequate as to the amount of risks insured. Possession by Lender will not be deemed an election of judicial relief, if any such possession is requested or obtained, against any Mortgaged Property or collateral not in Lender’s possession.

Risk of Loss, etc. (a) The risk of loss or damage to the Mortgaged Property is on Borrower, and Lender will have no liability whatsoever for a decline in the Mortgaged Property’s 's value, for a failure to maintain the Policies, or for a failure to determine whether insurance in force is adequate as to the amount of risks insured. Possession by Lender will not be deemed an election of judicial relief, if any such possession is requested or obtained, against any Mortgaged Property or collateral not in Lender’s 's possession.