Hazard Insurance Policy definition

Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.
Hazard Insurance Policy. With respect to each Contract, the policy of fire ----------------------- and extended coverage insurance (and federal flood insurance, if applicable) required to be maintained for the related Manufactured Home, as provided in Section 4.09 (which may be a blanket insurance policy maintained by the Servicer in accordance with the terms and conditions of Section 4.09).
Hazard Insurance Policy means, with respect to each Purchased Loan, the policy of fire and extended coverage insurance required to be maintained for the related Mortgaged Premisesimprovements (and, if the related Mortgaged Premises are located in a federally-designated special flood area, federal flood insurance issued in accordance with the Flood Disaster Protection Act of 1973, as amended from time to time, or, if repealed, any superseding legislation governing similar insurance coverage, or similar coverage against loss sustained by floods or similar hazards that conforms to the flood insurance requirements prescribed by Fannie Mae guidelines, which may be provided under a separate insurance policy), which insurance may be a blanket mortgage impairment policy.

Examples of Hazard Insurance Policy in a sentence

  • Each Standard Hazard Insurance Policy maintained with respect to any Mortgaged Property that is not an REO Property shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause.

  • Each Hazard Insurance Policy caused to be maintained by the Servicer shall contain a standard loss payee clause in favor of the Servicer and its successors and assigns.

  • Each Hazard Insurance Policy must contain or have attached a standard mortgagee clause in the form customarily used by or required by private institutional mortgage loan investors.

  • The Master Servicer and the Sub-Servicers shall establish and maintain one or more accounts (the "Servicing Accounts"), and shall deposit and retain therein all collections from the Mortgagors (or related advances from Sub-Servicers) for the payment of taxes, assessments, Primary Hazard Insurance Policy premiums, and comparable items for the account of the Mortgagors, to the extent that the Master Servicer customarily escrows for such amounts.

  • The Manufactured Home securing the Contract is covered by a Hazard Insurance Policy in the amount required by Section 5.09.


More Definitions of Hazard Insurance Policy

Hazard Insurance Policy. With respect to each Account, the policy of fire and extended coverage insurance required to be maintained for the related Mortgaged Property, as provided in Section 2.13 of the Servicing Agreement, and which, as provided in said Section 2.13, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 2.13.
Hazard Insurance Policy means, with respect to each Pledged Loan, the policy of fire and extended coverage insurance (and federal flood insurance, if the related real estate is located in a federally-designated special flood area) required by Section 10.19(c) to be maintained for the related real estate’s improvements and which may be a blanket mortgage impairment policy maintained by such Pledged Loan’s Servicer in accordance with the terms and conditions of Section 10.19(c).
Hazard Insurance Policy. Defined in Section 3.02(xv).
Hazard Insurance Policy is defined in paragraph (bb) of Schedule 15.3.
Hazard Insurance Policy. A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage, together with all riders and endorsements thereto.
Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance required to be maintained for the related Manufactured Home, pursuant to Section 5.07 which may be a blanket insurance policy maintained by the Servicer.
Hazard Insurance Policy. Each hazard insurance policy required to be ------------------------- maintained pursuant to Section 3.10.