Common use of Protection of Investments Clause in Contracts

Protection of Investments. The Investment Manager shall use its efforts, in cooperation with the legal counsel to the Company, as deemed appropriate in the Investment Manager's reasonable discretion, (a) to verify title to or procure title insurance in respect of any property in which the Company makes or proposes to make any investment; (b) to verify that any mortgage securing any Investment of the Company shall be a valid lien upon the mortgaged property according to its terms; that any insurance or guaranty issued by the Federal Housing Authority, the Veterans Administration or any similar agency of the United States or Canada, or any subdivision thereof, or any private mortgage insurance company, upon which the trust managers rely, is valid and in full force and effect and enforceable according to its terms; and that any commitments to provide permanent financing on property with respect to which the Company is furnishing interim loans are satisfactory; and (c) to carry on the policies from time to time specified by the trust managers with regard to the protection of the Company's Investments.

Protection of Investments. The Investment Manager Advisor shall use its best efforts, in cooperation with the legal counsel to the CompanyTrust, as deemed appropriate in the Investment Manager's Advisor’s reasonable discretion, (a) to verify title to or procure title insurance in respect of any property in which the Company Trust makes or proposes to make any investment; (b) to verify that any mortgage securing any Investment investment of the Company Trust shall be a valid lien upon the mortgaged property according to its terms; that any insurance or guaranty issued by the Federal Housing Authority, the Veterans Administration or any similar agency of the United States or Canada, or any subdivision thereof, or any private mortgage insurance company, upon which the trust managers Trustees rely, is valid and in full force and effect and enforceable according to its terms; and that any commitments to provide permanent financing on property with respect to which the Company Trust is furnishing interim loans are satisfactory; and (c) to carry on the policies from time to time specified by the trust managers Trustees with regard to the protection of the Company's InvestmentsTrust’s investments.