Common use of Mortgagee Clause Clause in Contracts

Mortgagee Clause. The w ord ômor tgageeö includes trustee. If a mortgagee is named in this policy, any covered loss under Section I - LOSSES W E COVER f or ▇▇ ▇▇▇▇▇▇ Protection w ill be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment w ill be the same as the order of precedence of the mortgages. If w e deny your claim because you or any other " insured" has f ailed to comply w ith the terms and conditions of this policy that denial shall not apply to a valid claim of the mortgagee, if the mortgagee: a. Promptly notif ies us of any change in ow nership, occupancy or substantial change in r isk of w hich the mortgagee is aw are; and a. Given us notice of the loss, b. Complied w ith all other policy b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and provisions, and c. Sends to us, w ithin 60 days af ter our request, a signed sw orn proof of loss c. Started the action w ithin tw o years af ter the date of the loss. w hich sets f ▇▇▇▇, to the best of the mortgagee's know ledge and belief : (1 ) The time and cause of loss;