Earthquake Insurance. With respect to each Mortgaged Property located in Seismic Risk Zone 3 or 4, a seismic analysis has been conducted by a recognized firm experienced in conducting such analyses, and no such analysis showed a Mortgaged Property with a probable maximum loss of greater than 40%. For each such Mortgaged Property with respect to which the applicable seismic analysis shows a probable maximum loss of greater than 20%, but not greater than 40%, earthquake insurance is currently maintained by the related Owner with a deductible not in excess of $50,000 from an insurance company with a rating meeting the requirements of the Guide for the applicable size of the Bond Mortgage Loan related to the Mortgaged Property with Xxxxxxx Mac named as a loss payee or additional insured.
Appears in 3 contracts
Samples: Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Multifamily Investors, L.P.)
Earthquake Insurance. With respect to each Mortgaged Property located in Seismic Risk Zone 3 or 4, a seismic analysis has been conducted by a recognized firm experienced in conducting such analyses, and no such analysis showed a Mortgaged Property with a probable maximum loss of greater than 40%. For each such Mortgaged Property with respect to which the applicable seismic analysis shows a probable maximum loss of greater than 20%, but not greater than 40%, earthquake insurance is currently maintained by the related Owner with a deductible not in excess of $50,000 from an insurance company with a rating meeting the requirements of the Guide for the applicable size of the Bond Mortgage Loan related to the Mortgaged Property with Xxxxxxx Fxxxxxx Mac named as a loss payee or additional insured.
Appears in 2 contracts
Samples: Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Tax Exempt Investors Lp)
