Ref: Lender "Mortgagee Clause" vs. "Additional Insured" on Insurance Policy to Property as Collateral

How specifically should a private lender be mentioned on the owner's insurance policy to a property used as collateral to a loan. I want to assure that I, as the Lender, get paid FIRST if there is an insurance payout. I also want to avoid the insurance company issuing out a payment in both the names of the Lender and property owner .... which could lead to a dispute.

For context, I lent money privately to another investor, who put up their non-homestead property as collateral. At closing a Note was issued and a Mortgage/Deed of Trust were issued showing the Borrower (Investor's) indebtedness to me, with a Mortgage/Deed of Trust showing my rights as Lender over the Borrower's property.
I have received mixed recommendations on this topic and am looking for guidance that is consistent.

Specifically, I lent money and had the investor/borrower/property owner place me as "Mortgagee" on their property's insurance policy. My assumption was that if, let's say, the structure burnt down, the property's insurance would then pay me out FIRST as the lender and NOT issue a check in both the Lender's and Property Owner's name. Am I correct in this assumption? If not, how do I avoid this?

Other advice I received was that I should have also placed myself as "Additional Insured" on the Borrower's insurance policy, in addition to the Mortgagee clause. What role does being named "Additional Insured" play within the context of a Lender?

What is the optimal way to proceed?!

Any advice would be welcome!  Thank you all kindly!