Hazard Insurance definition

Hazard Insurance. A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage naming the Servicer, its successors and assigns, as a mortgagee under a standard mortgagee clause, together with all riders and endorsements thereto.

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Hazard Insurance is defined in Section 19.

Hazard Insurance is defined in Section 6.10(a).

Examples of Hazard Insurance in a sentence

CURRENT_FICO The current FICO score HAZARD_CLAIM_FILED_DATE The date the Hazard Claim was filed with the Hazard Insurance Company.
Each Hazard Insurance Policy caused to be maintained by the Servicer shall contain a standard loss payee clause in favor of the Servicer and its successors and assigns.
Such clause must provide that the Hazard Insurance carrier shall notify the named Mortgagee at least ten days before any reduction in coverage or cancellation of the policy.
The Servicer must advance from its own funds such amounts as are necessary to restore any damaged REO not covered by Hazard Insurance or Special Hazard Insurance in accordance with Section 14.5.
Unless alternative coverage is provided pursuant to Section 16.3 hereunder, the Servicer must verify that each such Mortgaged Property is covered at all times by Hazard Insurance policy which provides blanket coverage for the individual units in the Condominium Project or PUD.

More Definitions of Hazard Insurance

Hazard Insurance means all policies of property insurance insuring against loss or damage to any Mortgaged Premises by fire and other perils, including without limitation all endorsements and riders thereto, and including so-called fire and extended coverage insurance policies, homeowner’s insurance policies and flood insurance policies.

Hazard Insurance means insurance on the property securing a mortgage loan that protects the property against loss caused by fire, wind, flood, earthquake, theft, falling objects, freezing, and other similar hazards for which the owner or assignee of such loan requires insurance.

Hazard Insurance means casualty, fire, hazard, flood, wind, liability or similar insurance policies relating to a Property.

Hazard Insurance means insurance against the risks of any type of hazard (e.g., fire, windstorm, etc.) except for floods.

Hazard Insurance means insurance coverage against loss for the real and personal property used as collateral for the Loan. The policy(s) must name Watertown Savings Bank, its successors or assigns as mortgagee and loss payee.

Hazard Insurance means casualty, fire, hazard, flood, wind, liability or similar insurance policies relating to a Mortgaged Property.

Hazard Insurance. With respect to a Mortgage Loan, (i) a standard homeowner's fire insurance policy with extended coverage, which shall provide coverage against loss sustained by fire and such other hazards as are customarily covered by extended coverage standard hazard insurance policies in the area where the related Mortgaged Property is located and (ii) where required by law or regulation, a standard flood insurance policy, in each case naming the originator of such Mortgage Loan and its successors and assigns as loss payee under a standard mortgagee clause or such other insurance policies as are required by the applicable Mortgage and related documents.