HomeMy WebLinkAboutSCHRADER OIL - INSURANCE CERTIFICATE (4)Additional Insured Copy
MORTGAGE HOLDERS INTEREST CERTIFICATE
Place of Issue - FEDERATED SERVICE INSURANCE COMPANY
Home Office
121 East Park Square
Owatonna, MN 55060
(507)455-5200
TO: CITY OF FORT COLLINS
300 LAPORTE AVE
FORT COLLINS CO 80521
We certify that you are named as Mortgagee in the below numbered policy which has been issued to:
SCHRADER OIL CO
PO BOX 495
FORT COLLINS CO 80522
to cover the building(s) located at:
Loc. Bldg.
No. No. Address
1 2 REAR 318-320 N COLLEGE OFFICE BUILDING
FORT COLLINS CO 80524
Deductible Limit
$10,000 $3,379,000
The policy contains provisions as shown on page 2 of this certificate. We certify the policy is effective from
06-30-2008 to 06-30-2009 12:01 A.M., (or 12 Noon) Standard Time, as stated in the policy, at the address of the
Named Insured as stated in the policy and that, subject to the provisions of this Certificate, the policy provides for
your interest, standard insurance protection not less than provided by a fire and extended coverage policy
customarily issued by us.
If the Named Insured shall cancel the policy or reduce the limit of liability, the policy as well as the limit of liability
stated shall continue in force, only for your benefit a minimum of ten days after notice by us to the mortgagee of
such cancellation or reduction.
If we cancel the policy we will provide at least ten days advance written notice or more as may be allowed by the
cancellation provision of the common policy conditions.
Special provisions, if any:
This Certificate is furnished as evidence of a policy as it stands at the date of issue, and is given as a matter of
information only. Except as specified herein, this Certificate confers no rights on the holder and imposes no
liabilitv on us.
SECRETARY
CWr. Q,y-orJ
PRESIDENT
Page 1 of 2
CP-F-11 (07-95) Policy Number: 9802184 Transaction Effective Date: 06-30-2008
Additional Insured Copy
Page 2 of 2
Mortgage Holders
a. The term "mortgage holder" includes trustee.
b. We will pay for covered loss of or damage to
buildings or structures to each mortgage holder
shown in the Declarations in their order of
precedence, as interest may appear.
c. The mortgage holder has the right to receive
loss payment even if the mortgage holder has
started foreclosure or similar action on the
building or structure.
d. If we deny mortgagor's claim because of
mortgagor's acts or because mortgagor has
failed to comply with the terms of this Coverage,
the mortgage holder will still have the right to
receive loss payment if the mortgage holder:
(1) Pays any premium due under this Coverage
Part at our request if mortgagor has failed to
do so;
(2) Submits a signed, sworn proof of loss within
60 days after receiving notice from us of
mortgagor's failure to do so; and
(3) Has notified us of any change in ownership,
occupancy or substantial change in risk
known to the mortgage holder.
All of the terms of this Coverage will then apply
directly to the mortgage holder.
e. If we pay the mortgage holder for any loss or
damage and deny payment to mortgagor
because of mortgagor's acts or because
mortgagor has failed to comply with the terms of
this Coverage;
(1) The mortgage holder's rights under the
mortgage will be transferred to us to the
extent of the amount we pay; and
(2) The mortgage holder's right to recover the
full amount of the mortgage holder's claim
will not be impaired.
At our option, we may pay to the mortgage
holder the whole principal on the mortgage plus
any accrued interest. In this event, the mortgage
and note will be transferred to us and mortgagor
will pay remaining mortgage debt to us.
f. If we cancel this policy, we will give written
notice to the mortgage holder at least:
(1) 10 days before the effective date of
cancellation if we cancel for mortgagor's
non-payment of premium; or
(2) 30 days before the effective date of
cancellation if we cancel for any other
reason.
g. If we do not renew this policy, we will give
written notice to the mortgage holder at least 10
days before the expiration date of this policy.
CP+-11 (07-95) Policy Number: 9802184 Transaction Effective Date: 06-30-2008