A Clause Which Specifies That the Mortgagee Will Obtain and Maintain

question 18

True/False

A clause which specifies that the mortgagee will obtain and maintain property insurance is typically included in a mortgage.

---

Definitions:

Small Co.

A colloquial term generally referring to a small company or corporation with limited resources and market share.

Recognized as Shareholder

Being officially acknowledged or identified as having legal ownership and rights in a corporation's shares.

Due Diligence

An investigation or exercise of care that a reasonable business or person is expected to take before entering into an agreement or transaction with another party.

Business Decision

A judgment or choice made in the context of managing a company, often involving resource allocation and strategy.