Mortgagee Additional Insured Clause

Rapid Borrow LLC, ISAOA / ATIMA,is an additional insured as to all coverages under this Policy.

As to Property Damage coverage,

A covered loss will be payable to the mortgagee or mortgagees named on the Policy Declarations, to the extent of their interest and in the order of precedence. All provisions of Section I of this policy apply to these mortgagees.

We will:

 a)     protect the mortgagee’s interest in a covered building structure in the event of an increase in hazard, intentional or criminal acts of, or directed by, an insured person, failure by any insured person to take all reasonable steps to save and preserve property after a loss, a change in ownership, or foreclosure if the mortgagee has no knowledge of these conditions; and

b)     give the mortgagee at least 10days notice if we cancel this policy.

The mortgagee will:

 a)     furnish proof of loss within 60days after notice of the loss if an insured person fails to do so;

b)     pay upon demand any premium due if an insured person fails to do so;

c)     notify us in writing of any change of ownership or occupancy or any increase in hazard of which the mortgagee has knowledge;

d)     give us the mortgagee’s right of recovery against any party liable for loss; and

e)     after a loss, and at our option, permit us to satisfy the mortgage requirements and receive full transfer of the mortgage.

This mortgagee interest provision shall apply to any trustee or loss payee or other secured party

‍