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CNA CNA PARAMOUNT First Party Terms and Conditions b. If a loss hereunder is made payable, in whole or in part, to a designated Lender Loss Payee or Mortgagee not named in this Policy, that interest may be cancelled by giving to such loss payee 10 days written notice of cancellation. If the Insurer pays the Lender Loss Payee or Mortgagee for loss under this Business Property Coverage Part, and denies payment to the Named Insured, the Insurer will, to the extent of the payment made to such Lender Loss Payee or Mortgagee, be subrogated to all the rights of the Lender Loss Payee or Mortgagee. However, any subrogation by the Insurer will not impair the right of such Lender Loss Payee or Mortgagee to recover the full amount of its claim. At the Insurer's option, the Insurer may pay the whole principal of the Named Insured's debt plus accrued interests. In this event, the Named Insured will pay its remaining debt to the Insurer. d. If the Named Insured fails to provide proof of loss, the Lender Loss Payee or Mortgagee, upon notice, will render proof of loss within 60 days of notice and will be subject to the provisions contained in this First Party Terms and Conditions and Common Terms and Conditions relating to APPRAISAL, LOSS PAYMENT and NO SUIT AGAINST INSURER. C. Mortgagee Loss Payee With respect to any Mortgagee as defined above, the interest of the Mortgagee in real property will not be invalidated by: 1. any act or neglect of the mortgagor or owner of the real property; 2. foreclosures, notice of sale, or similar proceeding with respect to the real property; 3. change in the title or ownership of the real property; or 4. change to an occupancy more hazardous than was represented by the Named Insured. D. Contract of Sale Loss Payee A Contract of Sale Loss Payee is a person or entity who is shown on the Schedule of Loss Payees or Mortgagees and with whom the Named Insured has entered a contract for the sale of insured property; provided that for such insured property in which both the Named Insured and such Contract of Sale Loss Payee have an insurable interest, the Insurer will: 1. adjust losses with the Named Insured; and 2. pay any claim for loss or damage jointly to the Named Insured and such Contract of Sale Loss Payee, as interests may appear. E. Building Owner Loss Payee 1. A Building Owner Loss Payee is the person or entity who is shown on the Schedule of Loss Payees or Mortgagees and is the owner of the described building in which the Named Insured is a tenant. 2. Loss or damage to such building will be adjusted with such Building Owner Loss Payee. Any loss payment made to such Building Owner Loss Payee will satisfy the Named Insured's claims against the Insurer for such Building Owner Loss Payee property. 3. Loss or damage to tenant's improvements and betterments will be adjusted with the Named Insured unless the written lease agreement provides otherwise. IX. NO BENEFIT TO BAILEE This insurance shall in no way inure directly or indirectly to the benefit of any transportation carrier or bailee. CNA62647XX 10-15 Copyright CNA All Rights Reserved. HORaN RiskMmRgzmerdDivisian REVIEWED & APPROVED BY.- o z Risk Management Analyst