Common use of Upon Completion Clause in Contracts

Upon Completion. An ORIGINAL (or certified copy) All-Risk Hazard Insurance Policy or ORIGINAL Xxxxx 28 (2003/10) Certificate of Insurance naming the borrowing entity as an insured, reflecting coverage of 100% of the replacement cost, and written by a carrier approved by Lender with a current A.M. Best’s Insurance Guide Rating of at least A- VII (which is authorized to do business in the state in which the property is located) that affirmatively includes the following: 1. Mortgagee Clause naming Lender as Mortgagee with a 30-day notice to Lender in the event of cancellation, non-renewal or material change 2. Lender’s Loss Payable Endorsement (ISO 1218 or similar) with a 30-day notice to Lender in the event of cancellation, non-renewal or material change

Upon Completion. An ORIGINAL (or certified copy) All-Risk Hazard Insurance Policy or ORIGINAL Xxxxx 28 (2003/10) form of Certificate of Insurance naming the borrowing entity as an insured, reflecting coverage of 100% of the replacement cost, and written by a carrier approved by Lender with a current A.M. Best’s Insurance Guide Rating of at least A- VII IX (which is authorized to do business in the state in which the property is located) that affirmatively includes the followingincludes: 1. Mortgagee Mortgage Clause naming Lender U.S. Bank National Association as Mortgagee with a 30-day notice to Lender in the event of cancellation, non-renewal or material change change 2. Lender’s Loss Payable Endorsement (ISO 1218 or similar1218) with a Severability of Interest Clause with a 30-day notice to Lender in the event of cancellation, non-renewal or material change 3. Replacement Cost Endorsement.