Common use of Custodian Not Responsible for Insurance Clause in Contracts

Custodian Not Responsible for Insurance. We will not bear or assume any responsibility to notify you about or to secure or maintain fire, casualty, liability, or other insurance coverage on any personal or real property held by your IRA or that serves as collateral under any mortgage or other security instrument held by your IRA with respect to any promissory note or other evidence of indebtedness. It is incumbent upon you as the IRA owner to arrange for such insurance as you determine necessary or appropriate to protect your IRA assets and to direct us in writing as to the payment of any premiums therefore. Furthermore it is your responsibility to determine that payment has been made upon your written request by verifying same with your IRA statements. We will not be responsible for notification or payments of any insurance premiums, real estate taxes, utilities, or other charges with respect to any investment held in your IRA, unless you specifically direct us to pay the same in writing and sufficient funds are available to pay same from your IRA. Furthermore, it is your responsibility to determine that payment has been made from the IRA. You must use an appropriate Payment Directive form available from us within a sufficient period of time for such direction to be accomplished in accordance with our normal business practices (without regard to whether we have undertaken efforts to comply with such directive).

Custodian Not Responsible for Insurance. We will not bear or assume any responsibility to notify you about or to you, secure or maintain fire, casualty, liability, or other insurance coverage on any personal or real property held by your IRA account or that which serves as collateral under any mortgage or other security instrument held by your IRA account with respect to any promissory note or other evidence of indebtedness. It is incumbent upon you as the IRA account owner to arrange for such insurance as you determine necessary or appropriate to protect your IRA assets and to direct us in writing as to the payment of any premiums therefore. Furthermore Furthermore, it is your responsibility to determine that payment has been made upon your written request by verifying same with your IRA account statements. We will not be responsible for notification or payments of any insurance premiums, real estate taxes, utilities, or other charges with respect to any investment held in your IRAaccount, unless you specifically direct us to pay the same in writing and sufficient funds are available to pay same from your IRAaccount. Furthermore, it is your responsibility to determine that payment has been made from the IRAcustodial account. You must use utilize an appropriate Payment Directive payment directive form available from us within a sufficient period of time for such direction to be accomplished in accordance with our the Custodian’s normal business practices (without regard to whether we have undertaken efforts to comply with such directive).