Standard Hazard Insurance Policy definition

Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.
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Standard Hazard Insurance Policy. With respect to each Contract, the policy of fire and extended coverage insurance (and any federal flood insurance, if applicable) required to be maintained for the related Manufactured Home as provided herein, which may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of the Pooling and Servicing Agreement.
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Standard Hazard Insurance Policy means a standard homeowner’s fire insurance policy with extended coverage as approved by the Insurance Commissioner of the State.
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Examples of Standard Hazard Insurance Policy in a sentence

  • Each Standard Hazard Insurance Policy maintained with respect to any Mortgaged Property that is not an REO Property shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause.

  • To the extent reasonable and permitted by the terms of any Asset and by law, the Servicer may collect from the Obligors, and retain as additional compensation, prepayment fees, assumption fees or any fees imposed in connection with the replacement by such Obligor of the related Standard Hazard Insurance Policy.

  • Each Standard 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.

  • If any Obligor is in default in the payment of premiums on its Standard Hazard Insurance Policy or Policies, the Servicer may pay such premiums or taxes out of its own funds.

  • From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, including but not limited to, collection under any Title Insurance Policy, Primary Mortgage Insurance Policy, flood insurance policy or Standard Hazard Insurance Policy or to effect a partial release of any Mortgaged Property from the lien of the related Mortgage, the Servicer shall deliver to the Trustee a Request for Release.

  • During the term that the Mortgage Loan is outstanding, the Servicer shall retain, with respect to such Mortgage Loan, the following documents: (1) Affidavit of Purchaser; (2) Seller’s Affidavit and Certification; (3) Standard Hazard Insurance Policy and, if applicable, Flood Insurance Policy; and (4) evidence of FHA or VA or USDA Rural Development or PMI Insurer approval, as applicable.

  • As of the Mortgage Purchase Date, the improvements upon the real property subject to the Mortgage Loan will be covered by a valid Standard Hazard Insurance Policy, Flood Insurance Policy, if applicable, and Multi-peril Policy for Condominiums, if applicable, and as required by FHA or VA or USDA Rural Development regulations or the PMI Insurer and the GNMA Guide, Xxxxxxx Mac or Xxxxxx Mae, as applicable.

  • To the extent reasonable and permitted by the terms of any Asset and by law, the Master Servicer may collect from the Obligors, and retain as additional compensation, prepayment fees, assumption fees or any fees imposed in connection with the replacement by such Obligor of the related Standard Hazard Insurance Policy.

  • From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, including but not limited to, collection under any Title Insurance Policy, Primary Mortgage Insurance Policy, flood insurance policy or Standard Hazard Insurance Policy or to effect a partial release of any Mortgaged Property from the lien of the related Mortgage, the Master Servicer shall deliver to the Trustee a Request for Release.

  • To the extent required by the related Mortgage Loan documents, each Standard Hazard Insurance Policy maintained with respect to any Mortgaged Property that is not an REO Property shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause.


More Definitions of Standard Hazard Insurance Policy

Standard Hazard Insurance Policy. A standard fire insurance policy with extended coverage, which shall provide standard coverage against loss by fire, lightning, windstorm, hail, explosion, riot not attending a strike, civil commotion, aircraft, vehicles, smoke, vandalism or malicious mischief.
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Standard Hazard Insurance Policy. With respect to a Mortgage Loan, the hazard insurance policy issued by a company authorized to issue such policies in the state in which the Mortgaged Premises securing such Mortgage Loan is located.
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Standard Hazard Insurance Policy. With respect to a Pledged Loan, the hazard insurance policy issued by a company authorized to issue such policies in the state in which the Mortgaged Property securing such Pledged Loan is located.
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Standard Hazard Insurance Policy means as to each Mortgage Loan an insurance policy in an amount not less than the principal amount of the related Mortgage Note or the maximum insurable value of the related Mortgaged Premises that a lender can require the relevant Customer to maintain by applicable law, whichever is less, providing coverage against loss to such Mortgaged Premises sustained by reason of fire or other hazards covered by a standard extended coverage endorsement, including all riders and endorsements thereto, and which conforms to the relevant Company's underwriting guidelines.
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Standard Hazard Insurance Policy. A standard homeowner's policy of fire insurance with extended coverage on the Mortgaged Property with a standard mortgage loss payable endorsement naming Purchaser as the loss payee issued by an insurance company acceptable to Purchaser.
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Related to Standard Hazard Insurance Policy

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • 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.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Blanket insurance policy means a group policy covering a defined class of

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Reimbursement insurance policy means a policy of insurance

  • Special Flood Hazard Area (SFHA means the land in the floodplain subject to a one percent (1%) or greater chance of being flooded in any given year, as determined in Article 3, Section B of this ordinance.

  • Special Flood Hazard Area means an area that FEMA’s current flood maps indicate has at least a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year.

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.

  • Lead hazard means any substance, surface or object that contains lead and that, due to its condition, location or nature, may contribute to the lead poisoning or lead exposure of a child under 6 years of age.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • COVID-19 hazard means exposure to potentially infectious material that may contain SARS-CoV-2, the virus that causes COVID-19. Potentially infectious materials include airborne droplets, small particle aerosols, and airborne droplet nuclei, which most commonly result from a person or persons exhaling, talking or vocalizing, coughing, sneezing, or procedures performed on persons which may aerosolize saliva or respiratory tract fluids, among other things. This also includes objects or surfaces that may be contaminated with SARS-CoV-2.

  • Road hazard means a hazard that is encountered while

  • Insurance Advisor means Aon Risk Services and any replacement thereof appointed by the Required Secured Parties and, if no Event of Default shall then be occurring, after consultation with the Borrower.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.