In Cole v. Michigan Mut Ins Co, 116 Mich. App. 51, 55; 321 N.W.2d 839 (1982), the Court recognized that a land contract vendor that is clearly identified on the declaration page of the policy assumes the same position and status as a mortgagee for purposes of applying a mortgage clause to govern the rights of the vendor under an insurance policy issued to the land contract vendee. Cole, 116 Mich. App. at 55-56. The Court has held that, in the absence of policy language expressly defining the rights of the parties to a land contract, a standard mortgage clause can be the mechanism by which the vendor collects benefits.