Mortgage Clause definition

Mortgage Clause. All policies providing physical damage type coverages on the building or improvements shall show the mortgage interest as follows: Regions Bank (its successors and assigns) Attn: Loan Operations ▇.▇. ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Flood Insurance Address: Regions Bank ▇.▇. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
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Examples of Mortgage Clause in a sentence

  • The standard mortgage clause adopted by the State must be attached to or printed in the policy, or Form RD 426–2, ‘‘Property In- surance Mortgage Clause (Without Contribution),’’ must be attached to or the provisions thereof printed in the policy.

  • If I obtain any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy will include a Standard Mortgage Clause and will name Lender as mortgagee and/or as an additional loss payee.

  • The Bank shall be designated as “Mortgagee” under standard Maine Mortgage Clause for all real estate and “Loss Payee” for personal property.

  • It is not, however, necessary to include the mortgagee as a named insured because the Mortgage Clause (section VII.Q. of the Dwelling Form and the General Property Form) affords building coverage to any mortgagee named as mortgagee on the Flood Insurance Application.

  • It is not, however, necessary to include the mortgagee as a named insured because the Mortgage Clause (Article VII.Q of the Dwelling Form and the General Property Form) affords building coverage to any mortgagee named as mortgagee on the Flood Insurance Application.

  • Lender shall be named on the policy under a Lender's Loss Payable Endorsement and Standard Mortgage Clause Endorsement (in forms acceptable to Lender).

  • Mortgage Clause naming Agent as Mortgagee with a 30-day notice to Agent in the event of cancellation, non-renewal or material change.

  • Mortgage Clause naming Agent as Mortgagee ISAA ATIMA with a 30-day notice to Agent in the event of cancellation, non-renewal or material change or the Lenders Loss Payable Endorsement specified in 2 below.

  • Lender shall be named under a Lender's Loss Payable Endorsement and Standard Mortgage Clause Endorsement (in forms acceptable to Lender) on all insurance policies which Borrower actually maintains with respect to the Property and Improvements.

  • The term of this Mortgage Clause coincides with the term of the policy; PROVIDED ALWAYS that the Insurer reserves the right to cancel the policy as provided by the Statutory provision but agrees that the Insurer will neither terminate nor alter the policy to the prejudice of the Mortgagee without the notice stipulated in such Statutory provision.

Related to Mortgage Clause

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Due-on-sale clause means a contract provision which authorizes the lender, at its option, to declare due and payable sums secured by the lender's security instrument if all or any part of the property, or an interest in the property, securing the real property loan is sold or transferred without the lender's prior written consent.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Mortgage Addendum means the addendum to the Mortgage in the agreed form.

  • Mortgage Conditions means, in relation to a Mortgage Loan, the terms and conditions applicable to that Mortgage Loan and its Related Security as set out in the relevant Seller's "Mortgage Conditions" booklet and the Seller's relevant general conditions from time to time as varied by the relevant Mortgage Loan Agreement and the relevant Mortgage Deed, and any variation or supplement thereto;