Exhibit 10.4(n)
---------------
AGREEMENT TO PROVIDE INSURANCE
Principal Loan Date Maturity Loan No. Call
$172,725.73 08-18-1998 11-16-1998 5010001204 CPB
-------------------------------------------------------------------------------
Collateral Account Officer Initials
010 11M
References in the shaded area are for Lender's use only and do not limit the
applicability of this document to any particular loan or Item.
-------------------------------------------------------------------------------
Borrower: AMERICAN FIRE RETARDANT CORPORATION TIN: 00-0000000
000 XXXXX XXXX
XXXXXXXXX, XX 00000
Lender: ST. XXXXXX BANK & TRUST COMPANY TIN: 000000000
Lafayette Office
0000 Xxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
===============================================================================
INSURANCE REQUIREMENTS. AMERICAN FIRE RETARDANT CORPORATION ("Grantor")
understands that insurance coverage is required In connection with the extending
of a loan or the providing of other financial accommodations to Grantor by
Lender. These requirements are set forth In the security documents. The
following minimum Insurance coverages must be provided on the following
described collateral (the "Collateral"):
Collateral: Real Estate at 000 XXXXX XXXX, XXXXXXXXX, XX 00000.
Type. Fire and extended coverage.
Amount. Full Insurable value.
Basis. Replacement value.
Endorsements. Standard mortgagee's clause naming Lender as
non-contributory lender loss-payee and further stipulating that
coverage will not be cancelled or diminished without a minimum of
thirty (30) days' prior written notice to Lender, and without
disclaimer of the insurer's liability for failure to give such
notice.
INSURANCE COMPANY. Grantor may obtain Insurance from any Insurance company
Grantor may choose that Is reasonably acceptable to Lender.
FLOOD INSURANCE. Flood Insurance for property given as security for this loan is
described as follows:
Real Estate at 000 XXXXX XXXX, XXXXXXXXX, XX 0000 S.
Should the Collateral at any time be deemed to be located In an area
designated by the Director of the Federal Emergency Management Agency as a
special flood hazard area and should Federal Flood Insurance covering the
Collateral ever become available, Grantor agrees to obtain and maintain
Federal Flood Insurance, for the full unpaid principal balance of the loan,
up to the maximum policy limits set under the National Flood Insurance
Program, or as otherwise required, and to maintain such Insurance for the
term of the loan.
FAILURE TO PROVIDE INSURANCE. Grantor agrees to purchase and maintain any
required flood Insurance within 45 days following notice given by Lender.
Additionally, Grantor agrees to deliver to Lender, tan (10) days from the date
of this Agreement, evidence that Grantor has purchased the insurance required
under my Mortgage or other security agreement, naming Lender as non-contributory
loss payee beneficiary, which Insurance coverage must have an effective date of
August 18, 1998, or earlier.
CONFLICTING PROVISIONS. To the extent any provisions of this Agreement conflict
with provisions of Grantor's Mortgage or other security agreement, the specific
provisions of Grantor's Mortgage or other security agreement will prevail.
AUTHORIZATION. For purposes of Insurance coverage on the Collateral, Grantor
authorizes Lender to provide to any person (including any insurance agent or
company) all Information Lender deems appropriate, whether regarding the
Collateral, the loan or other financial accommodations, or both.
Page 1
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS AGREEMENT TO PROVIDE
INSURANCE AND AGREES TO ITS TERMS. THIS AGREEMENT IS DATED AUGUST 18, 1998.
GRANTOR:
AMERICAN FIRE RETARDANT CORPORATION
/S/ Xxxxxx X. Xxxxx
---------------------------------------------
By: XXXXXX X. XXXXX, EXECUTIVE VICE PRESIDENT
FOR LENDER USE ONLY
INSURANCE VERIFICATION
Date: _________ Phone: (000) 000-0000
AGENT'S NAME: Xxxxx Xxxxxx
ADDRESS: X.X. Xxxxxx 00000, Xxxxxxxxx, XX 00000-0000
INSURANCE COMPANY: Hartford Fire Insurance Co.
POLICY NUMBER(S): 43UECLE6487
EFFECTIVE DATES:
COMMENTS:
Page 2
