Common use of Insurance Policies Clause in Contracts

Insurance Policies. All insurance policies required by Xxxxxx and renewals of such policies: (i) will be subject to Xxxxxx’s right to disapprove such policies; (ii) must include a standard mortgage clause; and (iii) must name Xxxxxx as mortgagee and/or as an additional loss payee. Lender will have the right to hold the policies and renewal certificates. If Lender requires, Borrower will promptly give to Lender proof of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy must include a standard mortgage clause and must name Xxxxxx as mortgagee and/or as an additional loss payee.

Insurance Policies. All insurance policies required by Xxxxxx and renewals of such policies: (i) will be subject to Xxxxxx’s right to disapprove such policies; (ii) must include what is known as a “standard mortgage clause” to protect Xxxxxx; and (iii) must name Xxxxxx as mortgagee and/or as an additional loss payee. Lender will have the right to hold the policies and renewal certificates. If Lender requires, Borrower I will promptly give to Lender proof of paid premiums and renewal notices. If Borrower obtains I obtain any form of insurance coverage, not otherwise required by LenderXxxxxx, for damage to, or destruction of, the Property, such policy must include a “standard mortgage clause clause” and must name Xxxxxx as mortgagee and/or as an additional loss payee.