Common use of Insurance Upon Foreclosure Clause in Contracts

Insurance Upon Foreclosure. In case of an insured loss after foreclosure proceedings have been instituted, the proceeds of any insurance policy or policies, if not applied in Restoring the Property shall be used to pay the amount due in accordance with any decree of foreclosure that may be entered in any such proceedings, and the balance, if any, shall be paid as the court may direct. In case of the foreclosure of this Mortgage, the court in its judgment may provide that the judgment creditor may cause a new or additional loss clause to be attached to each of said policies making the loss thereunder payable to said judgment creditor; and any such foreclosure judgment may further provide, unless the right of redemption has been waived, that in case of redemption under said judgment, pursuant to applicable law, then, and in every such case, the redemptory may cause the preceding loss clause attached to each insurance policy to be cancelled and a new loss clause to be attached thereto, making the loss thereunder payable to such redemptory. In the event of foreclosure sale, Mortgagee is hereby authorized, but not required, without the consent of Mortgagor, to assign or cause a receiver to assign any and all insurance policies to the purchaser at the sale, or to take such other action as Mortgagee may deem advisable, to cause the interest of such purchaser to be protected by any of the said insurance policies.

Insurance Upon Foreclosure. In case of an insured loss after foreclosure proceedings have been instituted, the proceeds of any insurance policy or policies, if not applied (subject to Sections 5 and 6 hereof) in Restoring Mortgagee’s sole discretion to rebuilding or restoring the Property buildings or improvements, shall be used to pay the amount due in accordance with any decree of foreclosure that may be entered in and any such proceedings, and the balance, if any, balance shall be paid as the court may direct. In the case of the foreclosure of this Mortgage, the court may provide in its judgment may provide decree that the judgment decree creditor may cause a new or additional loss payable clause to be attached to each of said policies casualty insurance policy making the loss thereunder proceeds payable to said judgment creditor; and any decree creditors. Any such foreclosure judgment decree may further provide, unless the right of redemption has been waived, provide that in case of redemption one or more redemptions under said judgmentdecree, pursuant to applicable law, then, and in every such case, the redemptory each successive redemptor may cause the preceding loss clause attached to each casualty insurance policy to be cancelled canceled and a new loss clause to be attached thereto, making the loss proceeds thereunder payable to such redemptoryredemptor. In the event of foreclosure sale, Mortgagee is hereby authorized, but not required, without the consent of Mortgagor, to assign or cause a receiver to assign any and all insurance policies to the purchaser at the sale, sale or to take such other action steps as Mortgagee may deem advisable, advisable to cause the interest of such purchaser to be protected by any of the said insurance policies.

Insurance Upon Foreclosure. In Subject to the rights of Landlord under the Property Lease and the Agreement Regarding Lease, the terms and conditions of the Property Lease and the Agreement Regarding Lease and except to the extent otherwise provided in the Property Lease and in the Agreement Regarding Lease, in case of an insured loss after foreclosure proceedings have been instituted, the proceeds of any insurance policy or policies, if not applied in Restoring to repairing, restoring, replacing or rebuilding any portion of the Property Property, shall be used to pay the amount due in accordance with any decree of foreclosure that may be entered in any such proceedings, and the balance, if any, shall be paid as the court may direct. In case of the foreclosure of this Leasehold Mortgage, the court in its judgment may provide that the judgment creditor may cause a new or additional loss clause to be attached to each of said policies making the loss thereunder payable to said judgment creditor; and any such foreclosure judgment may further provide, unless the right of redemption has been waived, that in case of redemption under said judgment, pursuant to applicable law, then, and in every such case, the redemptory may cause the preceding loss clause attached to each insurance policy to be cancelled canceled and a new loss clause to be attached thereto, making the loss thereunder payable to such redemptory. In the event of foreclosure sale, Mortgagee is hereby authorized, but not required, without the consent of Mortgagor, to assign or cause a receiver to assign any and all insurance policies to the purchaser at the sale, or to take such other action as Mortgagee may deem advisable, to cause the interest of such purchaser to be protected by any of the said insurance policies.

Insurance Upon Foreclosure. In case of an insured loss after foreclosure proceedings have been instituted, the proceeds of any insurance policy or policies, if not applied in Restoring the Property Improvements, as aforesaid, shall be used to pay the amount due in accordance with any decree of foreclosure that may be entered in any such proceedings, and the balance, if any, shall be paid as the court may direct. In the case of the foreclosure of this Mortgage, the court court, in its judgment decree, may provide that the judgment Mortgagee's clause attached to each of the casualty insurance policies may be canceled and that the decree creditor may cause a new or additional loss clause to be attached to each of said casualty insurance policies making the loss thereunder payable to said judgment creditordecree creditors; and any such foreclosure judgment decree may further provide, unless the right of redemption has been waived, provide that in case of redemption one or more redemptions under said judgmentdecree, pursuant to applicable lawthe statutes in each such case made and provided, then, and then in every such case, the redemptory each and every successive redemptor may cause the preceding loss clause attached to each casualty insurance policy to be cancelled canceled and a new loss clause to be attached thereto, making the loss thereunder payable to such redemptoryredemptor. In the event of foreclosure sale, the Mortgagee is hereby authorized, but not required, without the consent of the Mortgagor, to assign or cause a receiver to assign any and all insurance policies to the purchaser at the sale, or to take such other action steps as the Mortgagee may deem advisable, advisable to cause the interest of such purchaser to be protected by any of the said insurance policies.

Insurance Upon Foreclosure. In case of an insured loss after foreclosure proceedings have been instituted, the proceeds of any insurance policy or policies, if not applied in Restoring repairing, restoring, replacing or rebuilding any portion of the Property Property, shall be used to pay the amount due in accordance with any decree of foreclosure that may be entered in any such proceedings, and the balance, if any, shall be paid as the court may direct. In case of the foreclosure of this Mortgage, the court in its judgment may provide that the judgment creditor may cause a new or additional loss clause to be attached to each of said policies making the loss thereunder payable to said judgment creditor; and any such foreclosure judgment may further provide, unless the right of redemption has been waived, that in case of redemption under said judgment, pursuant to applicable law, then, and in every such case, the redemptory may cause the preceding loss clause attached to each insurance policy to be cancelled canceled and a new loss clause to be attached thereto, making the loss thereunder payable to such redemptory. In the event of foreclosure sale, Mortgagee is hereby authorized, but not required, without the consent of Mortgagor, to assign or cause a receiver to assign any and all insurance policies to the purchaser at the sale, or to take such other action as Mortgagee may deem advisable, to cause the interest of such purchaser to be protected by any of the said insurance policies.

Insurance Upon Foreclosure. In case of an insured loss after foreclosure proceedings have been instituted, the proceeds of any insurance policy or policies, if not applied in Restoring restoring the Property shall be used to pay the amount due in accordance with any decree of foreclosure that may be entered in any such proceedings, and the balance, if any, shall be paid as the court may direct. In case of the foreclosure of this Mortgage, the court in its judgment may provide that the judgment creditor may cause a new or additional loss clause to be attached to each of said policies making the loss thereunder payable to said judgment creditor; and any such foreclosure judgment may further provide, unless the right of redemption has been waived, that in case of redemption under said judgment, pursuant to applicable lawthe Act, then, and in every such case, the redemptory may cause the preceding loss clause attached to each insurance policy to be cancelled canceled and a new loss clause to be attached thereto, making the loss thereunder payable to such redemptory. In the event of foreclosure sale, Mortgagee the Lender is hereby authorized, but not required, without the consent of Mortgagor, to assign or cause a receiver to assign any and all insurance policies to the purchaser at the sale, or to take such other action as Mortgagee the Lender may deem advisable, to cause the interest of such purchaser to be protected by any of the said insurance policies.