Common use of NOTICES, CHANGES AND RENEWALS Clause in Contracts

NOTICES, CHANGES AND RENEWALS. All policies must require the insurance carrier to give the Lender a minimum of ten (10) days’ notice in the event of modification, cancellation or termination for nonpayment of premium and a minimum of thirty (30) days’ notice of nonrenewal. The Borrower shall report to the Lender immediately any material facts known to the Borrower that may adversely affect the appropriateness or enforceability of any insurance contract, including, without limitation, changes in the ownership or occupancy of the Real Property, any hazard to the Real Property and any matters that may give rise to any claim. Prior to expiration of any policy required under this Section, the Borrower shall provide either (a) an original or certified copy of the renewed policy, or (b) a “binder,” an Xxxxx 28 (real property), Xxxxx 27 (personal property) or Xxxxx 25 (liability) certificate, or another document satisfactory to the Lender conferring on the Lender the rights and privileges of mortgagee. If the Borrower meets the foregoing requirement under clause (b), the Borrower shall use its best efforts to supply an original or certified copy of the original policy within ninety (90) days, and shall be obligated to do so within two hundred forty (240) days. All binders, certificates, documents, and original or certified copies of policies must name the Borrower as a named insured or as an additional insured, must include the complete and accurate property address and must bear the original signature of the issuing insurance agent.

NOTICES, CHANGES AND RENEWALS. All policies must require the insurance carrier to give the Lender a minimum of ten (10) days’ notice in the event of modification, cancellation or termination for nonpayment of premium and a minimum of thirty (30) days’ notice of nonrenewal. The Borrower shall report to the Lender immediately any material facts known to the Borrower that may adversely affect the appropriateness or enforceability of any insurance contract, including, without limitation, changes in the ownership or occupancy of the Real Property, any hazard to the Real Property and any matters that may give rise to any claim. Prior to expiration of any policy required under this Section, the Borrower shall provide either (a) an original or certified copy of the renewed policy, or (b) a “binder,” an Xxxxx Axxxx 28 (real property), Xxxxx Axxxx 27 (personal property) or Xxxxx Axxxx 25 (liability) certificate, or another document satisfactory to the Lender conferring on the Lender the rights and privileges of mortgagee. If the Borrower meets the foregoing requirement under clause (b), the Borrower shall use its best efforts to supply an original or certified copy of the original policy within ninety (90) days, and shall be obligated to do so within two hundred forty (240) days. All binders, certificates, documents, and original or certified copies of policies must name the Borrower as a named insured or as an additional insured, must include the complete and accurate property address and must bear the original signature of the issuing insurance agent.

NOTICES, CHANGES AND RENEWALS. All policies required under this Section must require the insurance carrier to give the Lender a minimum of ten thirty (1030) days’ notice in the event of modification, cancellation or termination for nonpayment of premium or non renewal and a minimum of thirty (30) days’ notice of nonrenewalshall provide that no act or omission by the insured shall invalidate or diminish the insurance provided to Lender. The Borrower shall report to the Lender immediately any material facts known to the Borrower that may adversely affect the appropriateness or enforceability of any insurance contract, including, without limitation, changes in the ownership or occupancy of the Real Property, any hazard to the Real Property and any matters that may give rise to any claim. Prior to expiration of any policy required under this Section, the Borrower shall provide either (a) an original or certified copy of the renewed policy, or (b) a “binder,” an Xxxxx Axxxx 28 (real property), Xxxxx Axxxx 27 (personal property) or Xxxxx Axxxx 25 (liability) certificate, or another document satisfactory to the Lender conferring on the Lender the rights and privileges of mortgagee. If the Borrower meets the foregoing requirement under clause (b), the Borrower shall use its best efforts to supply an original or certified copy of the original policy within ninety (90) days, and shall be obligated to do so within two hundred forty (240) days. All binders, certificates, documents, and original or certified copies of policies must name the Borrower as a named insured or as an additional insured, must include the complete and accurate property address and must bear the original signature of the issuing insurance agent.

NOTICES, CHANGES AND RENEWALS. All policies required under this Section must require the insurance carrier to give the Lender a minimum of ten thirty (1030) days’ notice in the event of modification, cancellation or termination for nonpayment of premium or non renewal and a minimum of thirty (30) days’ notice of nonrenewalshall provide that no act or omission by the insured shall invalidate or diminish the insurance provided to Lender. The Borrower Mortgagor shall report to the Lender immediately any material facts known to the Borrower Mortgagor that may adversely affect the appropriateness or enforceability of any insurance contract, including, without limitation, changes in the ownership or occupancy of the Real Property, any hazard to the Real Property and any matters that may give rise to any claim. Prior to expiration of any policy required under this Section, the Borrower Mortgagor shall provide either (a) an original or certified copy of the renewed policy, or (b) a “binder,” an Xxxxx Axxxx 28 (real property), Xxxxx Axxxx 27 (personal property) or Xxxxx Axxxx 25 (liability) certificate, or another document satisfactory to the Lender conferring on the Lender the rights and privileges of mortgagee. If the Borrower Mortgagor meets the foregoing requirement under clause (b), the Borrower Mortgagor shall use its best efforts to supply an original or certified copy of the original policy within ninety (90) days, and shall be obligated to do so within two hundred forty (240) days. All binders, certificates, documents, and original or certified copies of policies must name the Borrower Mortgagor as a named insured or as an additional insured, must include the complete and accurate property address and must bear the original signature of the issuing insurance agent.

NOTICES, CHANGES AND RENEWALS. All policies must require the insurance carrier to give the Lender a minimum of ten thirty (1030) days’ notice in the event of modification, cancellation or termination for nonpayment non payment of premium and a minimum of thirty (30) days’ notice of nonrenewal. The Borrower shall report to the Lender immediately any material facts known to the Borrower that may adversely affect the appropriateness or enforceability of any insurance contract, including, without limitation, changes in the ownership or occupancy of the Real Property, any hazard to the Real Property and any matters that may give rise to any claim. Prior to expiration of any policy required under this Section, the Borrower shall provide either (a) an original or certified copy of the renewed policy, or (b) a “binder,” an Xxxxx 28 (real property), Xxxxx 27 (personal property) or Xxxxx 25 (liability) certificate, or another document satisfactory to the Lender conferring on the Lender the rights and privileges of mortgagee. If the Borrower meets the foregoing requirement under clause (bh), the Borrower shall use its best efforts to supply an original or certified copy of the original policy within ninety (90) days, and shall be obligated to do so within two hundred forty (240) days. All binders, certificates, documents, and original or certified copies of policies must name the Borrower as a named insured or as an additional insured, must include the complete and accurate property address and must bear hear the original signature of the issuing insurance agent.