Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages. 2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee: a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware; b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee. 3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least 4. If we pay the mortgagee for any loss and deny payment to you: a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt. 5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 12 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrene- wal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 9 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 7 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions relating to Paragraphs F. G. Appraisal, H. J. Suit Against Us and J. L. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypol- icy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrene- wal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 5 contracts
Samples: Insurance Binder, Personal Liability Insurance Agreement, Dwelling Property Insurance Agreement
Mortgage Clause. 1Applies only to Coverage on Buildings. If (This entire clause is void unless the name of the mortgagee [mortgage holder], or trustee under a mortgagee trust deed, is named inserted in this policy, any loss payable under Coverage A or B will be paid the Declarations. This clause applies only to the mortgagee [or trustee] and you, does not affect your rights or duties under this policy).
a. We will pay for loss or damage to buildings to each mortgagee shown on the Declarations and to you as interests may appear. If more than one mortgagee is namednamed in the Declarations, the they shall be paid in order of payment will be the same as the order of precedence of the mortgagespriority.
2. If we deny b. The mortgagee is entitled to receive loss payment even if the mortgagee has started foreclosure or other similar proceedings on the building or structure.
c. The insurance for the mortgagee continues in effect even when your claiminsurance may be void because of your acts, neglect or failure to comply with policy terms provided that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. 1) Pays any premium due under this policy on demand if at our request insofar as you have neglected failed to pay the premium; anddo so;
c. 2) Submits a signed, sworn statement proof of loss within 60 days after receiving notice from us of your failure to do so; and
3) Notifies us of any change in ownership, occupancy or substantial change in risk known to the mortgagee. Paragraphs F. AppraisalIf all of these conditions are met, H. Suit Against Us and J. Loss Payment under Section I – Conditions also then the terms of this policy will apply directly to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. d. If we pay the mortgagee for any a loss and deny payment where your insurance may be void as a result of your acts, neglect or failure to youcomply with policy terms then:
a. We are subrogated to all the 1) The mortgagee's rights of the mortgagee granted under the mortgage on will be transferred to us to the propertyextent of the amount we pay; orand
b. 2) The mortgagee's right to recover the remainder of the mortgage debt from you will not be impaired. At our option, we may pay to the mortgagee the whole remaining principal on the mortgage plus any and accrued interest. In this event, we will receive interest in return for a full assignment and transfer of the mortgage mortgagee's interest and all securities held any instruments given as collateral to security for the mortgage debt.
5. Subrogation e. If we cancel this policy, we will not impair the right of give written notice to the mortgagee to recover the full amount of the mortgagee's claim.at least:
Appears in 5 contracts
Samples: Insurance Policy, Insurance Policy, Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee mort- gagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 5 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B - Dwelling will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 4 contracts
Samples: Condominium Insurance Policy, Condominium Insurance Policy, Condominium Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policyPolicy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy Policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to:
(1) Appraisal, H. ;
(2) Suit Against Us and J. Us; and
(3) Loss Payment under Section I – Conditions also apply to the mortgagee.Payment;
3. If we decide to cancel or not to renew this policyPolicy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 4 contracts
Samples: Dwelling Property Insurance Agreement, Dwelling Property Insurance Agreement, Dwelling Property Insurance Agreement
Mortgage Clause. 1This applies only to coverage on buildings. The word "mortgagee" includes trustee.
a. If a mortgagee is named in this policyon the Declarations, any a loss payable under Coverage Coverages A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will does not apply to a valid claim of the mortgagee, if the mortgageemortgagee has:
a. Notifies 1) notified us of any change in ownership, occupancy occupancy, or substantial change in risk of which the mortgagee is became aware;
b. Pays any 2) paid the premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits 3) submitted a signed, sworn statement proof of loss within 60 days after receiving notice from us of your failure if you failed to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also All terms of this policy apply to the mortgageemortgagee unless changed by this clause.
3. b. If we decide to cancel or do not to renew this policy, we will notify the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. c. If we pay the mortgagee for any a loss and deny payment to you:
a. We 1) we are subrogated subrogated, up to the amount we paid for the loss, to all the rights of the mortgagee granted under the mortgage on the property; or
b. At 2) at our option, we may pay to the mortgagee the whole principal on the mortgage plus any the accrued interest. In this event, we will shall receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will shall not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 4 contracts
Samples: Insurance Policy, Insurance Policy, Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrene- wal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 3 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 3 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 3 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee mort- gagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 3 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 3 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Agreement, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions re- lating to Paragraphs F. G. Appraisal, H. J. Suit Against Us and J. L. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 3 contracts
Samples: Dwelling Property Insurance Agreement, Dwelling Property Insurance Agreement, Dwelling Property Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee xxxxxx- xxx the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 2 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1The word “mortgagee” includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of or precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 2 contracts
Samples: Standard Wind and Hail Condominium Unit Owners Policy, Standard Wind and Hail Condominium Unit Owners Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions above also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 2 contracts
Samples: Homeowners Insurance Policy, Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions re- lating to Paragraphs F. G. Appraisal, H. J. Suit Against Us and J. L. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypol- icy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 2 contracts
Samples: Dwelling Property Insurance Agreement, Dwelling Property Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions re- lating to Paragraphs F. G. Appraisal, H. J. Suit Against Us and J. L. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypoli- cy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenew- al takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 2 contracts
Samples: Dwelling Property Insurance Agreement, Dwelling Property Insurance Agreement
Mortgage Clause. 1The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions above also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or non-renewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Samples: Homeowners Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageexxxxxx- xxx:
a. Notifies us of any change in ownership, occupancy oc- cupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment Pay- ment under Section I – Conditions above also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee mort- gagee to recover the full amount of the mortgagee's xxxxxx- xxx'x claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalXxxxxxxxx, H. Suit X. Legal Action Against Us and J. X. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
6. We provide coverage to no mortgagee or its representatives under this policy if, whether before or after a loss, a mortgagee or its representatives has:
a. Intentionally concealed or
b. Engaged in fraudulent conduct; or
c. Made material false statements; relating to this insurance.
Appears in 1 contract
Samples: Homeowners 3 – Special Form
Mortgage Clause. 1. 1 If a mortgagee is named has interest in this policythe insured property, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. appear If more than one mortgagee is namedhas interest in the insured property, the order of payment will be the same as the order of precedence of the mortgages.
2. mortgages 2 If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. : a Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. ; b Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. and c Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. so Paragraphs F. D Appraisal, H. F Suit Against Us and J. H Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. 3 If we pay the mortgagee for any loss and deny payment to you:
a. : a We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. or b At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. interest In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. debt 4 Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Samples: Homeshare Business Insurance Policy
Mortgage Clause. 1The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment pay- ment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy occu- pancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also Pay- ment apply to the mortgagee.
3. If we decide to cancel the policy is cancelled or not to renew this policyrenewed by us, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee mort- gagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee mort- gagee to recover the full amount of the mortgagee's xxxxxx- xxx'x claim.
Appears in 1 contract
Samples: Homeowners Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions above also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrene- wal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1The word mortgagee includes trustee. A mortgagee is applicable only to real property. If a mortgagee is named in this policy, any loss payable under Coverage A or B will shall be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will shall be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will shall not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownershipownership or occupancy, occupancy or any substantial change in risk of which the mortgagee is aware;
b. Pays on demand any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Who We Pay, and Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel the policy is canceled or not to renew this policynonrenewed by us, the mortgagee will shall be notified at least
4least ten days before the date cancellation takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interestinterest at the time of loss. In this event, we will shall receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will shall not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence prece- dence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypol- icy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage xxxx- xxxx and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee mort- gagee to recover the full amount of the mortgageemort- xxxxx's claim.
Appears in 1 contract
Samples: Homeowners Insurance Agreement
Mortgage Clause. 1The word “mortgagee” includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date of cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage mortgagee and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Mortgage Clause. The word “mortgagee” includes trustee and lienholder.
1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;.
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.APPROVED Date Received: Date Of Action: 08/05/2014 09/16/2014 FL OFFICE OF INSURANCE REGULATION
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; andpay
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Legal Action Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
6. We provide coverage to no mortgagee or its representatives under this policy if, whether before or after a loss, a mortgagee or its representatives has:
a. Intentionally concealed or misrepresented any material fact or circumstance;
b. Engaged in fraudulent conduct; or
c. Made material false statements; relating to this insurance.
Appears in 1 contract
Samples: Homeowners 3 – Special Form
Mortgage Clause. 1The word “mortgagee” includes trustee or lienholder. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of or precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions re- lating to Paragraphs F. AppraisalG. Xxxxxxxxx, H. X. Suit Against Us and J. L. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypoli- cy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenew- al takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Mortgage Clause. 1The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interestinter- est. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will shall be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will shall be the same as the order of precedence of the mortgages.
2. The word “mortgagee” includes trustee. If we deny your claim, that denial will shall not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of or which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and;
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also payment apply to the mortgagee.
3. If we decide to cancel the policy is canceled or not to renew this policyrenewed by us, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will shall receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will shall not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1This provision applies only to coverage on buildings. If This entire clause is void unless the name of the mortgagee, otherwise known as the mortgage holder, which also includes a mortgagee trustee under a trust deed, is named inserted in this policy, any loss payable under Coverage A or B will be paid the Declarations. This clause applies only to the mortgagee or trustee, and you, does not affect your rights or duties under this policy.
a. We will pay for loss or damage to buildings to each mortgagee shown in the Declarations and to you as interests may appear. If more than one mortgagee is namednamed in the Declarations, the they will be paid in order of payment will be the same as the order of precedence of the mortgagespriority.
2. If we deny b. The mortgagee is entitled to receive loss payment even if the mortgagee has started foreclosure or other similar proceedings on the building or structure.
c. The insurance for the mortgagee continues in effect even when your claimcoverage has been denied because of your acts, neglect or failure to comply with policy terms provided that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. 1) Pays any premium due under this policy on demand if at our request insofar as you have neglected failed to pay the premium; anddo so;
c. 2) Submits a signed, sworn statement proof of loss within 60 days after receiving notice from us of your failure to do so; and
3) Notifies us of any change in ownership, occupancy or substantial change in risk known to the mortgagee. Paragraphs F. AppraisalIf all of these conditions are met, H. Suit Against Us and J. Loss Payment under Section I – Conditions also then the terms of this policy will apply directly to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. d. If we pay the mortgagee for any a loss and deny payment where your coverage has been denied as a result of your acts, neglect or failure to youcomply with policy terms then:
a. We are subrogated to all the 1) The mortgagee’s rights of the mortgagee granted under the mortgage on will be transferred to us to the property; orextent of the amount
b. 2) The mortgagee’s right to recover the remainder of the mortgage debt from you will not be impaired. At our option, we may pay to the mortgagee the whole remaining principal on the mortgage plus any and accrued interest. In this event, we will receive interest in return for a full assignment and transfer of the mortgage mortgagee’s interest and all securities held any instruments given as collateral to security for the mortgage debt.
5. Subrogation e. If we cancel this policy, we will not impair the right of give written notice to the mortgagee to recover the full amount of the mortgagee's claim.at least:
Appears in 1 contract
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Agreement
Mortgage Clause. 1The word “mortgagee” includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of or precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Mortgage Clause. 1. a. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. b. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. (1) Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. (2) Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. (3) Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so.
c. Property Conditions 4. Paragraphs F. Appraisal, H. Suit 7. Legal Action Against Us and J. 10. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. d. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. e. If we pay the mortgagee for any loss and deny payment to you:
a. (1) We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. (2) At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. f. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Home Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypol- icy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrene- wal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral collat- eral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee m ortgagee and you, as interests appear. If more m ore than one mortgagee m ortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. A. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee m ortgagee is aware;
b. B. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. C. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.of
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or non- renewal tak es effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We W e are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.full
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Mortgage Clause. 1The word "mortgagee" includes trustee and lienholder. If a mortgagee is named in this policy, any loss payable payments under Coverage A or B – Dwelling will be paid to in- clude the mortgagee as payee. If you and youthe mortgagee do not agree upon the allocation of a loss payment, then we will pay as interests appearap- pear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, claim that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy oc- cupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions re- lating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Agreement
Mortgage Clause. 1The word "mortgagee" includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment pay- ment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy occu- pancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also Pay- ment apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee mort- xxxxx granted under the mortgage on the property; or
b. At at our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee mort- gagee to recover the full amount of the mortgageemort- xxxxx's claim.
Appears in 1 contract
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalXxxxxxxxx, H. X. Suit Against Us and J. X. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1The word “mortgagee” includes trustee. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of or precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a the valid claim of the mortgagee, if the mortgagee:
a. Notifies notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits submits a signed, sworn statement of loss within 60 days after receiving notice from us of or your failure to do so. Paragraphs F. Policy conditions relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. ; If we decide to cancel the policy is cancelled or not to renew this policyrenewed by us, the mortgagee will be notified at least
4least 10 days before the date cancellation or nonrenewal takes effect. If we pay the mortgagee mortgage for any loss and deny payment to you:
a. We we are subrogated to all the rights of the mortgagee mortgage granted under the mortgage on the property; or
b. At our at out option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageexxxxxx- xxx:
a. Notifies us of any change in ownership, occupancy oc- cupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment Pay- ment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypoli- cy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive re- ceive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee mort- gagee to recover the full amount of the mortgagee's xxxxxx- xxx'x claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy oc- cupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – — Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee mort- gagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee mort- gagee to recover the full amount of the mortgagee's mort- gagee’s claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or non- renewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Samples: Homeowners Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. E. Appraisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.. Sample Copy
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Samples: Insurance Policy
Mortgage Clause. 1. The word "mortgagee" includes trustee and lienholder.
a. If a mortgagee is named in this policy, any loss payable under Coverage COVERAGE A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. b. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. (1) Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware. This notice includes notifying us of foreclosure or if a foreclosure has been initiated;
b. (2) Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. (3) Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Policy CONDITIONS relating to Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. c. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. d. If we pay the mortgagee for any loss and deny payment to you:
a. (1) We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. (2) At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. e. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence prece- dence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalE. Ap- praisal, H. G. Suit Against Us and J. I. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policypol- icy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage xxxx- xxxx and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee mort- gagee to recover the full amount of the mortgageemort- gagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policyPolicy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy Policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. AppraisalXxxxxxxxx, H. X. Suit Against Us and J. X. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policyPolicy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
Appears in 1 contract
Samples: Homeowners Insurance Policy
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in In risk of which the mortgagee is aware;:
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions relating to Paragraphs F. AppraisalG. Xxxxxxxxx, H. X. Suit Against Us and J. L. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonrenewal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's ’s claim.
Appears in 1 contract
Mortgage Clause. 1Applies only to Coverage on Buildings. If (This entire clause is void unless the name of the mortgagee [mortgage holder], or trustee under a mortgagee trust deed, is named inserted in this policy, any loss payable under Coverage A or B will be paid the Declarations. This clause applies only to the mortgagee [or trustee] and you, does not affect your rights or duties under this policy.)
a. We will pay for loss or damage to buildings to each mortgagee shown on the Declarations and to you as interests may appear. If more than one mortgagee is namednamed in the Declarations, the they shall be paid in order of payment will be the same as the order of precedence of the mortgagespriority.
2. If we deny b. The mortgagee is entitled to receive loss payment even if the mortgagee has started foreclosure or other similar proceedings on the building or structure.
c. The insurance for the mortgagee continues in effect even when your claiminsurance may be void because of your acts, neglect or failure to comply with policy terms provided that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays 1) pays any premium due under this policy on demand if at our request insofar as you have neglected failed to pay the premium; anddo so;
c. Submits 2) submits a signed, sworn statement proof of loss within 60 days after receiving notice from us of your failure to do so; and
3) Notifies us of any change in ownership, occupancy or substantial change in risk known to the mortgagee. Paragraphs F. AppraisalIf all of these conditions are met, H. Suit Against Us and J. Loss Payment under Section I – Conditions also then the terms of this policy will apply directly to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least
4. d. If we pay the mortgagee for any a loss and deny payment where your insurance may be void as a result of your acts, neglect or failure to youcomply with policy terms then:
a. We are subrogated to all the 1) The mortgagee's rights of the mortgagee granted under the mortgage on will be transferred to us to the propertyextent of the amount we pay; orand
b. 2) The mortgagee's right to recover the remainder of the mortgage debt from you will not be impaired. At our option, we may pay to the mortgagee the whole remaining principal on the mortgage plus any and accrued interest. In this event, we will receive interest in return for a full assignment and transfer of the mortgage mortgagee's interest and all securities held any instruments given as collateral to security for the mortgage debt.
5. Subrogation e. If we cancel this policy, we will not impair the right of give written notice to the mortgagee to recover the full amount of the mortgagee's claim.at least:
Appears in 1 contract
Samples: Insurance Agreement
Mortgage Clause. 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgageemort- gagee:
a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware;
b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Policy conditions re- lating to Paragraphs F. G. Appraisal, H. J. Suit Against Us and J. L. Loss Payment under Section I – Conditions also apply to the mortgagee.
3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at leastleast 10 days before the date cancellation or nonre- newal takes effect.
4. If we pay the mortgagee for any loss and deny payment to you:
a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or
b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt.
5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
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