Assignment of Policies Upon Foreclosure. In the event of a foreclosure pursuant to this Deed of Trust or other transfer of title or assignment of the Trust Estate in extinguishment, in whole or in part, of the debt secured hereby, all right, title and interest of Trustor in and to all policies of insurance maintained pursuant to Section 2.5 shall inure to the benefit of and pass to the successor in interest to Trustor or the purchaser or grantee of the Trust Estate.
Assignment of Policies Upon Foreclosure. In the event of foreclosure of this Mortgage or other transfer of title or assignment of the Mortgaged Property in extinguishment, in whole or in part, of the debt secured hereby, all right, title and interest of Mortgagor in and to all policies of insurance required by Section 1.3 will inure to the benefit of and pass to the successor in interest to Mortgagor or the purchaser or grantee of the Mortgaged Property.
Assignment of Policies Upon Foreclosure. In the event of foreclosure of this Deed of Trust or other transfer of title or assignment of any of the Property in extinguishment, in whole or in part, of the debt secured hereby, all right, title and interest of Trustor in and to all policies of insurance required by this Section with respect to such Property and any unearned premiums paid thereon shall, without further act, be assigned to and shall inure to the benefit of and pass to the successor in interest to Trustor or the purchaser or grantee of the Property, and Trustor hereby appoints Beneficiary its lawful attorney-in-fact to execute an assignment thereof and any other document necessary to effect such transfer.
Assignment of Policies Upon Foreclosure. In the event of foreclosure of this Mortgage or other transfer of title or assignment of the Mortgaged Property in extinguishment, in whole or in part, of the debt secured hereby, all right, title and interest of the Mortgagor in and to all policies of insurance required by this Section shall inure to the benefit of and pass to the successor in interest to Mortgagor or the purchaser or grantee of the Mortgaged Property. Mortgagor hereby appoints Mortgagee its attorney-in-fact to endorse any checks, drafts or other instruments representing any proceeds of such insurance, whether payable by reason of loss thereunder or otherwise.
Assignment of Policies Upon Foreclosure. In the event of foreclosure of this Mortgage or other transfer of title or assignment of any of the Property in extinguishment, in whole or in part, of the debt guaranteed by the Guaranty and secured hereby, all right, title and interest of Mortgagor in and to all policies of insurance required by this Section with respect to such Property and any unearned premiums paid thereon shall, without further act, be assigned to and shall inure to the benefit of and pass to the successor in interest to Mortgagor or the purchaser or grantee of the Property, and Mortgagor hereby appoints Mortgagee its lawful attorney-in-fact to execute an assignment thereof and any other document necessary to effect such transfer.
Assignment of Policies Upon Foreclosure. In any event of foreclosure of this Deed of Trust or other transfer of title or assignment of the Trust Estate in extinguishment, in whole or in part, of the debt secured hereby, all right, title and interest of Trustor in and to all policies of insurance required by the Indenture shall inure to the benefit of and pass to the successor in interest to Trustor or the purchaser or grantee of the Trust Estate.
Assignment of Policies Upon Foreclosure. In the event of foreclosure of this Mortgage or other transfer of title or assignment of the Mortgage Estate in extinguishment, in whole or in part, of the debt secured hereby, all right, title and interest of Mortgagor in and to all policies of insurance required by this Section and 436 any unearned premiums paid thereon shall, without further act, be assigned to and shall inure to the benefit of and pass to the successor in interest to Mortgagor or the purchaser or grantee of the Mortgage Estate, and Mortgagor hereby appoints Mortgagee its lawful attorney-in-fact to execute an assignment thereof and any other document necessary to effect such transfer.
Assignment of Policies Upon Foreclosure. In the event of the foreclosure of this Mortgage or other transfer of title to the Mortgaged Property, or any part thereof, by non-judicial foreclosure sale or deed in lieu of foreclosure, the purchaser of the Mortgaged Property, or such part thereof, shall succeed to all of Grantor’s rights, including any rights to unexpired insurance and unearned or returnable premiums, in and to allinsurance policies required by Section 1.04, subject to limitations on assignment of blanket policies and limited to such rights as relate to the Mortgaged Property or such part thereof If Grantee acquires title to the Mortgaged Property, or any part thereof, in any manner, it shall thereupon (as between Grantor and Grantee) become the sole and absolute owner of the insurance policies and all proceeds payable thereunder with respect to the Mortgaged Property, or such part thereof, required by Section 1.04, with the sole right to collect and retain all unearned or returnable premiums thereon with respect to the Mortgaged Property, or such part thereof, if any.
Assignment of Policies Upon Foreclosure. In the event of foreclosure of this Mortgage or other transfer of title or assignment of the Premises in extinguishment, in whole or in part, of the debt secured hereby all right, title and interest of the Mortgagor in and to all policies of insurance required by this Section shall inure to the benefit of and pass to the successor in interest to the Mortgagor or the purchaser or grantee of the Premises. The Mortgagor hereby appoints the Mortgagee its attorney-in-fact to endorse any checks, drafts or other instruments representing any proceeds of such insurance, whether payable by reason of loss thereunder or otherwise.
Assignment of Policies Upon Foreclosure. In the event of --------------------------------------- foreclosure of the Mortgage or other transfer of title or assignment of the Premises, in whole or in part, all right, title and interest of the Mortgagor in and to all policies of insurance required by this Article 6 above shall automatically inure to the benefit of, and pass to, the Lender or the Lender's successor in interest or the purchaser or grantee of the Premises.
