Common use of FAILURE TO COLLECT PROCEEDS Clause in Contracts

FAILURE TO COLLECT PROCEEDS. Mortgagee shall not be held responsible for (i) any failure to collect any insurance proceeds due under the terms of any policy, regardless of the cause of such failure, (ii) the amount of any such proceeds ultimately paid, regardless of any negotiation by Mortgagee of such amount, or (iii) any use by Mortgagor of such proceeds as Mortgagee may pay over to Mortgagor.

FAILURE TO COLLECT PROCEEDS. Mortgagee shall not be held responsible for (i) any failure to collect any insurance proceeds due under the terms of any policycondemnation proceeds, regardless of the cause of such failure, (ii) the amount of any such proceeds ultimately paid, regardless of any negotiation by Mortgagee of such amount, or (iii) any use by Mortgagor of such proceeds as Mortgagee may pay over to Mortgagor.