Common use of Statutory Notice Regarding Insurance Clause in Contracts

Statutory Notice Regarding Insurance. The following notice is given pursuant to Section 427.120 of the Missouri Revised Statutes; nothing contained in such notice shall be deemed to limit or modify the terms of the Loan Documents: UNLESS YOU PROVIDE EVIDENCE OF THE INSURANCE COVERAGE REQUIRED BY YOUR AGREEMENT WITH US, WE MAY PURCHASE INSURANCE AT YOUR EXPENSE TO PROTECT OUR INTERESTS IN YOUR COLLATERAL. THIS INSURANCE MAY, BUT NEED NOT, PROTECT YOUR INTERESTS. THE COVERAGE THAT WE PURCHASE MAY NOT PAY ANY CLAIM THAT YOU MAKE OR ANY CLAIM THAT IS MADE AGAINST YOU IN CONNECTION WITH THE COLLATERAL. YOU MAY LATER CANCEL ANY INSURANCE PURCHASED BY US, BUT ONLY AFTER PROVIDING EVIDENCE THAT YOU HAVE OBTAINED INSURANCE AS REQUIRED BY OUR AGREEMENT. IF WE PURCHASE INSURANCE FOR THE COLLATERAL, YOU WILL BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE, INCLUDING THE INSURANCE PREMIUM, INTEREST AND ANY OTHER CHARGES WE MAY IMPOSE IN CONNECTION WITH THE PLACEMENT OF THE INSURANCE, UNTIL THE EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE INSURANCE. THE COSTS OF THE INSURANCE MAY BE ADDED TO YOUR TOTAL OUTSTANDING BALANCE OR OBLIGATION. THE COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF INSURANCE YOU MAY BE ABLE TO OBTAIN ON YOUR OWN.

Statutory Notice Regarding Insurance. The following notice is given pursuant to Section 427.120 of the Missouri Revised Statutes; nothing contained in such notice shall be deemed to limit or modify the terms of the Loan Documentsthis Lease: UNLESS YOU PROVIDE TENANT PROVIDES EVIDENCE OF THE INSURANCE COVERAGE REQUIRED BY YOUR AGREEMENT WITH USTHE LEASE, WE LANDLORD MAY PURCHASE INSURANCE AT YOUR TENANT’S EXPENSE TO PROTECT OUR INTERESTS LANDLORD’S INTEREST IN YOUR COLLATERALTHE PREMISES. THIS INSURANCE MAY, BUT NEED NOT, PROTECT YOUR INTERESTSTENANT’S INTEREST. THE COVERAGE THAT WE PURCHASE LANDLORD PURCHASES MAY NOT PAY ANY CLAIM THAT YOU MAKE TENANT MAKES OR ANY CLAIM THAT IS MADE AGAINST YOU TENANT IN CONNECTION WITH THE COLLATERALPREMISES. YOU TENANT MAY LATER CANCEL ANY INSURANCE PURCHASED BY USLANDLORD, BUT ONLY AFTER PROVIDING EVIDENCE THAT YOU HAVE TENANT HAS OBTAINED INSURANCE AS REQUIRED BY OUR AGREEMENTTHE LEASE. IF WE PURCHASE LANDLORD PURCHASES INSURANCE FOR THE COLLATERALPREMISES, YOU TENANT WILL BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE, INCLUDING THE INSURANCE PREMIUM, INTEREST AND ANY OTHER CHARGES WE LANDLORD MAY IMPOSE IN CONNECTION WITH THE PLACEMENT OF THE INSURANCE, UNTIL THE EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE INSURANCE. THE COSTS OF THE INSURANCE MAY SHALL BE ADDED TO YOUR TOTAL OUTSTANDING BALANCE OR OBLIGATIONCONSIDERED ADDITIONAL RENT AND SHALL BE PAYABLE UPON DEMAND. THE COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF INSURANCE YOU TENANT MAY BE ABLE TO OBTAIN ON YOUR ITS OWN.