Submission of policies. (i) For Farmer Program (FP) loans secured by a first lien, the original policy or dec- laration page must be delivered to the County Supervisor. The original policy or declaration page will be returned to the borrower after one year using Form RD 426–4, ‘‘Notice of Expiration of In- surance.’’
(ii) For Single Family Housing (SFH) loans secured by a first lien, the origi- nal policy or declaration page must be delivered to the closing agent.
(iii) In cases where an FP or SFH loan is secured by other than a first lien and the mortgage clauses include the names of the prior mortgagees, a certificate of insurance, copy of the policy, or other evidence of insurance is acceptable.
(iv) The County Supervisor will proc- ess an advance to pay for insurance only in strict compliance with provi- sions of § 1806.6 of this subpart.
Submission of policies. (a) Upon the request of the Bank, the Borrower shall promptly provide a schedule indicating the insurance policies maintained or caused to be maintained by the Borrower, coverage limits of liability, effective dates of coverage, insurance carrier names and policy numbers.
(b) Each of the policies regarding the Insurances and the Additional Insurances shall be submitted to the Bank upon receipt. Upon the request of the Bank, the Borrower shall promptly provide the Bank and with copies of the insurance contracts relating to the Insurances by at least forty (40) days prior to the dates such policies are required to come into effect in accordance with such Schedule 12 (Insurances). Such policies to be in the English language, in form and substance, and issued by companies, satisfactory to the Bank. The Borrower undertakes, at its own cost and expense, to procure any reasonable amendments to the Insurances and Additional Insurances requested by the Bank or the Bank's Insurance Consultant.
(c) Each of the Insurances and Additional Insurances shall contain provisions specifying that any insurance proceeds shall be deposited directly into the Insurance Proceeds Account.
Submission of policies. Said insurance policies required hereunder may be submitted to the Coalition. Satisfactory evidence that such insurance is at all times in full force and effect shall be furnished to the Coalition on ETMC EMS’s execution of this Contract and, thereafter, within seven (7) days of the Coalition’s written request for the same.
