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 for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is met: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy meet the requirements of this Section 6.10. (iii) Borrower will provide evidence acceptable to Lender in Lender’s Discretion that the per occurrence limit of the Insurance coverages provided by the Blanket Insurance Policy will be no less than the Replacement Cost of the property with the largest replacement cost exposure covered by the Blanket Insurance Policy unless a higher amount is required by Lender in Lender’s Discretion. (iv) The maximum per occurrence deductible for the Blanket Insurance Policy providing property damage coverage and/or Windstorm Coverage is as follows: $5,000,000 or less $50,000 Greater than $5,000,000 but less than or equal to $7,500,000 $75,000 Greater than $7,500,000 1% of the Replacement Cost of the covered properties (to a maximum of $250,000) However, if the Blanket Insurance Policy provides Windstorm Coverage and the Mortgaged Property is located (A) in Florida, or (B) within 50 miles of the coast of any East Coast or Gulf Coast state, then the maximum per occurrence deductible for Windstorm Coverage will not exceed 5% of the aggregate Replacement Cost of the covered properties. (v) The minimum umbrella or excess liability coverage required if the Blanket Insurance Policy provides commercial general liability Insurance is as follows: 2 to 3 3 or fewer $3,000,000 2 to 3 More than 3 $10,000,000 4 to 5 3 or fewer $5,000,000 4 to 5 More than 3 $12,000,000 6 to 10 3 or fewer $7,000,000 6 to 10 More than 3 $15,000,000 11 to 19 3 or fewer $9,000,000 11 to 19 More than 3 $20,000,000 20 or more 3 or fewer $15,000,000 20 or more More than 3 $30,000,000

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 for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is met: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy meet the requirements of this Section 6.10. (iii) Borrower will provide evidence acceptable to Lender in Lender’s Discretion that the per occurrence limit of the Insurance coverages provided by the Blanket Insurance Policy will be no less than the Replacement Cost of the property with the largest replacement cost exposure covered by the Blanket Insurance Policy unless a higher amount is required by Lender in Lender’s Discretion. (iv) The maximum per occurrence deductible for the Blanket Insurance Policy providing property damage coverage and/or Windstorm Coverage is as follows: $5,000,000 or less $50,000 Greater than $5,000,000 but less than or equal to $7,500,000 $75,000 Greater than $7,500,000 1% of the Replacement Cost of the covered properties (to a maximum of $250,000) However, if the Blanket Insurance Policy provides Windstorm Coverage and the Mortgaged Property is located (A) in Florida, or (B) within 50 miles of the coast of any East Coast or Gulf Coast state, then the maximum per occurrence deductible for Windstorm Coverage will not exceed 5% of the aggregate Replacement Cost of the covered properties. (v) The minimum umbrella or excess liability coverage required if the Blanket Insurance Policy provides commercial general liability Insurance is as follows: 2 to 3 3 or fewer $3,000,000 2 to 3 More than 3 $10,000,000 4 to 5 3 or fewer $5,000,000 4 to 5 More than 3 $12,000,000 6 to 10 3 or fewer $7,000,000 6 to 10 More than 3 $15,000,000 11 to 19 3 or fewer $9,000,000 11 to 19 More than 3 $20,000,000 20 or more 3 or fewer $15,000,000 20 or more More than 3 $30,000,000:

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 for two or more properties (“"Blanket Insurance Policy”") provided that each of the following conditions is met: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s 's Discretion. (ii) The coverages under the Blanket Insurance Policy meet the requirements of this Section 6.10. (iii) Borrower will provide evidence acceptable to Lender in Lender’s 's Discretion that the per occurrence limit of the Insurance coverages provided by the Blanket Insurance Policy will be no less than the Replacement Cost of the property with the largest replacement cost exposure covered by the Blanket Insurance Policy unless a higher amount is required by Lender in Lender’s 's Discretion. (iv) The maximum per occurrence deductible for the Blanket Insurance Policy providing property damage coverage and/or Windstorm Coverage is as follows: $5,000,000 or less $50,000 Greater than $5,000,000 but less than or equal to $7,500,000 $75,000 Greater than $7,500,000 1% of the Replacement Cost of the covered properties (to a maximum of $250,000) However, if the Blanket Insurance Policy provides Windstorm Coverage and the Mortgaged Property is located (A) in Florida, or (B) within 50 miles of the coast of any East Coast or Gulf Coast state, then the maximum per occurrence deductible for Windstorm Coverage will not exceed 5% of the aggregate Replacement Cost of the covered properties. (v) The minimum umbrella or excess liability coverage required if the Blanket Insurance Policy provides commercial general liability Insurance is as follows: 2 to 3 3 or fewer $3,000,000 2 to 3 More than 3 $10,000,000 4 to 5 3 or fewer $5,000,000 4 to 5 More than 3 $12,000,000 6 to 10 3 or fewer $7,000,000 6 to 10 More than 3 $15,000,000 11 to 19 3 or fewer $9,000,000 11 to 19 More than 3 $20,000,000 20 or more 3 or fewer $15,000,000 20 or more More than 3 $30,000,000:

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 for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is met: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy meet the requirements of this Section 6.10. (iii) Borrower will provide evidence acceptable to Lender in Lender’s Discretion that the per occurrence limit of the Insurance coverages provided by the Blanket Insurance Policy will be no less than the Replacement Cost of the property with the largest replacement cost exposure covered by the Blanket Insurance Policy unless a higher amount is required by Lender in Lender’s Discretion. (iv) The maximum per occurrence deductible for the Blanket Insurance Policy providing property damage coverage and/or Windstorm Coverage is as follows: $5,000,000 or less $50,000 Greater than $5,000,000 but less than or equal to $7,500,000 $75,000 Greater than $7,500,000 1% of the Replacement Cost of the covered properties (to a maximum of $250,000) However, if the Blanket Insurance Policy provides Windstorm Coverage and the Mortgaged Property is located (A) in Florida, or (B) within 50 miles of the coast of any East Coast or Gulf Coast state, then the maximum per occurrence deductible for Windstorm Coverage will not exceed 5% of the aggregate Replacement Cost of the covered properties. (v) The minimum umbrella or excess liability coverage required if the Blanket Insurance Policy provides commercial general liability Insurance is as follows: 2 to 3 3 or fewer $$ 3,000,000 2 to 3 More than 3 $$ 10,000,000 4 to 5 3 or fewer $$ 5,000,000 4 to 5 More than 3 $$ 12,000,000 6 to 10 3 or fewer $$ 7,000,000 6 to 10 More than 3 $$ 15,000,000 11 to 19 3 or fewer $$ 9,000,000 11 to 19 More than 3 $$ 20,000,000 20 or more 3 or fewer $$ 15,000,000 20 or more More than 3 $$ 30,000,000

Blanket Insurance; Master Program. Borrower may provide Insurance coverage described in this Section 6.10 19 under a blanket insurance policy or master program which provides one “per occurrence” (per peril) limit of coverage for two or more properties (“Blanket Insurance Policy”) provided that each of the following conditions is met: (i) The Blanket Insurance Policy is acceptable to Lender in Lender’s Discretion. (ii) The coverages under the Blanket Insurance Policy meet the requirements of this Section 6.1019. (iii) Borrower will provide evidence acceptable to Lender in Lender’s Discretion that the per occurrence limit of the Insurance coverages provided by the Blanket Insurance Policy will be no less than the Replacement Cost of the property with the largest replacement cost exposure covered by the Blanket Insurance Policy unless a higher amount is required by Lender in Lender’s Discretion. (iv) The maximum per occurrence deductible for the Blanket Insurance Policy providing property damage coverage and/or Windstorm Coverage is as follows: $5,000,000 or less $$ 50,000 Greater than $5,000,000 but less than or equal to $7,500,000 $$ 75,000 Greater than $7,500,000 1% of the Replacement Cost of the covered properties (to a maximum of $250,000) However, if the Blanket Insurance Policy provides Windstorm Coverage and the Mortgaged Property is located (A) in Florida, or (B) within 50 miles of the coast of any East Coast or Gulf Coast state, then the maximum per occurrence deductible for Windstorm Coverage will not exceed 5% of the aggregate Replacement Cost of the covered properties. (v) The minimum umbrella or excess liability coverage required if the Blanket Insurance Policy provides commercial general liability Insurance is as follows: 2 to 3 3 or fewer $$ 3,000,000 2 to 3 More than 3 $$ 10,000,000 4 to 5 3 or fewer $$ 5,000,000 4 to 5 More than 3 $$ 12,000,000 6 to 10 3 or fewer $$ 7,000,000 6 to 10 More than 3 $$ 15,000,000 11 to 19 3 or fewer $$ 9,000,000 11 to 19 More than 3 $$ 20,000,000 20 or more 3 or fewer $$ 15,000,000 20 or more More than 3 $$ 30,000,000