Common use of Blanket Insurance; Master Program Clause in Contracts

Blanket Insurance; Master Program. Borrower may provide Insurance coverage described in this Section 6.10 under a blanket insurance policy or master program which provides one “per occurrence” (per peril) limit of coverage as a shared limit for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is satisfied: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy for the “All Risks” policy required under Section 6.10(a)(i) will be at least equal to the greater of: (A) The largest individual Total Insurable Value of any property covered by the Blanket Insurance Policy. (B) 10% of the aggregate Total Insurable Value of all properties covered by the Blanket Insurance Policy. (iii) The coverages under the Blanket Insurance Policy for Windstorm Coverage will be at least equal to: (A) 40% of the aggregate Total Insurable Value for all properties covered by the Blanket Policy if the Mortgaged Property is located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state. (B) If the Mortgaged Property is not located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state, the greater of:

Blanket Insurance; Master Program. Borrower may provide Insurance coverage described in this Section 6.10 under a blanket insurance policy or master program which provides one “per occurrence” (per peril) limit of coverage as a shared limit for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is satisfied: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy for the “All Risks” policy required under Section 6.10(a)(i) will be at least equal to the greater of: (A) The largest individual Total Insurable Value of any property covered by the Blanket Insurance Policy. (B) 10% of the aggregate Total Insurable Value of all properties covered by the Blanket Insurance Policy. (iii) The coverages under the Blanket Insurance Policy for Windstorm Coverage will be at least equal to: (A) 40% of the aggregate Total Insurable Value for all properties covered by the Blanket Policy if the Mortgaged Property is located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state. (B) If the Mortgaged Property is not located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state, the greater of:

Blanket Insurance; Master Program. Borrower may provide Insurance coverage described in this Section 6.10 under a blanket insurance policy or master program which provides one “per occurrence” (per peril) limit of coverage as a shared limit for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is satisfied: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy for the “All Risks” policy required under Section 6.10(a)(i) will be at least equal to the greater of: (A) The largest individual Total Insurable Value of any property covered by the Blanket Insurance Policy. (B) 10% of the aggregate Total Insurable Value of all properties covered by the Blanket Insurance PolicyPolicy $500,000,000. (iii) The coverages under the Blanket Insurance Policy for Windstorm Coverage will be at least equal to: (A) 40% of the aggregate Total Insurable Value for all properties covered by the Blanket Policy if the Mortgaged Property is located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state. (B) If the Mortgaged Property is not located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state, the greater of:

Blanket Insurance; Master Program. Borrower may provide Insurance coverage described in this Section 6.10 under a blanket insurance policy or master program which provides one “per occurrence” (per peril) limit of coverage as a shared limit for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is satisfied: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy for the “All Risks” policy required under Section 6.10(a)(i) will be at least equal to the greater of: (A) The largest individual Total Insurable Value of any property covered by the Blanket Insurance Policy. . (B) 10% of the aggregate Total Insurable Value of all properties covered by the Blanket Insurance Policy. (iii) The coverages under the Blanket Insurance Policy for Windstorm Coverage will be at least equal to: (A) 40% of the aggregate Total Insurable Value for all properties covered by the Blanket Policy if the Mortgaged Property is located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state. (B) If the Mortgaged Property is not located (1) in Florida, or (2) within 50 miles of the coast of any East Coast or Gulf Coast state, the greater of: