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Businessowners Policy
<br /> td1C.
<br /> The Dentists Insurance Company
<br /> 1201 K Street,17th Floor,Sacramento,CA 95814
<br /> THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
<br /> LENDER'S LOSS PAYABLE ENDORSEMENT
<br /> Loss Payee: Heritage Bank
<br /> Address: 900 Cooper Point Rd
<br /> Olympia, Washington 98502
<br /> 1. Loss or damage, if any under this policy, shall be paid to the Payee shown above, its successors and
<br /> assigns hereinafter referred to as"the Lender" in whatever form or capacity its interests may appear
<br /> and whether said interest be vested in said Lender in its individual or in its disclosed or undisclosed
<br /> fiduciary or representative capacity, or otherwise, or vested in a nominee or trustee of said Lender.
<br /> 2. The Insurance under this policy, or any rider or endorsement attached thereto, as to the interest only
<br /> of the Lender, its successors and assigns shall not be invalidated nor suspended: (a) by any error,
<br /> omission, or change respecting the ownership, description, possession, or location of the subject of
<br /> the insurance or the interested therein, or the title thereto; (b) by the commencement of foreclosure
<br /> proceedings or the giving of notice of sale of any of the property covered by this policy by virtue of
<br /> any mortgage or trust deed; (c) by any breach of warranty, act, omission, neglect, or non-compliance
<br /> with any of the provisions of this policy, including any and all riders now or hereafter attached thereto,
<br /> by the named insured, the borrower, mortgagor, trustor, vendee, owner, tenant, warehouseman,
<br /> custodian, occupant, or by the agents of either of any of them or by the happening of any event
<br /> permitted by them or either of them, or their agents. or which they failed to prevent, whether occurring
<br /> before or after the attachment of this endorsement, or whether before or after a loss,which under the
<br /> provisions of this policy of insurance or of any rider or endorsement attached therein would invalidate
<br /> or suspend the insurance as to the named insured, excluding herefrom, however, any acts or
<br /> omissions of the Lender while exercising active control and management of the property.
<br /> 3. In the event of failure of the insured to pay any premium or additional premium which shall be or
<br /> become due under the terms of this policy or on account of any change in occupancy or increase in
<br /> hazard not permitted by this policy,this Company agrees to give written notice to the Lender of such
<br /> non-payment of premium after ten (10) days from and within thirty (30) days after due date of such
<br /> premium and it is a condition of the continuance of the rights of the lender hereunder that the Lender
<br /> when so notified in writing by this Company of the failure of the insured to pay such premium shall
<br /> pay or cause to be paid the premium due within ten (10) days following receipt of the Company's
<br /> demand in writing therefore. If the Lender shall decline to pay said premium or additional premium,
<br /> the rights of the Lender under this Lender's Loss Payable Endorsement shall not be terminated
<br /> before ten (10) days after receipt of said written notice by the Lender.
<br /> 4. Whenever this Company shall pay to the Lender any sum for loss or damage under this policy and
<br /> shall claim that as to the insured no liability therefore exists, this Company, at its option, may pay to
<br /> the Lender the whole principal sum and interest and other indebtedness due or to become due from
<br /> the insured, whether secured or unsecured (with refund of all interest not accrued). And this
<br /> Company to the extent of such payment, shall thereupon receive a full assignment and transfer,
<br /> without recourse, of the debt and all rights and securities held as collateral thereto.
<br /> 5, If there be any other insurance upon the within described property, this Company shall be liable
<br /> under this policy as to the Lenders for the proportion of such loss or damage that the sum hereby
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