Common use of Name and Location Clause in Contracts

Name and Location. The policy should contain names of all the bor- rowers who are owners of the property being insured, and it will be returned for correction if it does not do so. The location of the property should be so described in the policy that the prop- erty can easily be identified. The com- plete legal description of the property by metes and bounds is not required. Any deviation from the requirements of this paragraph must first be cleared with the National Office.