Common use of Perils Clause in Contracts

Perils. Fire and Extended coverage, vandalism and malicious mischief, Boiler and Machinery, and if applicable, Flood and Earthquake Insurance. Values: l00% Replacement cost value of property/Limit of $5,000 deductible ------ Endorsements Required: o Inflation Guard, and Agreed Amount and Replacement Cost endorsements o List of Locations and Schedule of Values, if Blanket Policy o 438BFU (Loss Payee Endorsement - see copy attached, with enlargement of same for easier reading), in favor of General Electric Capital Business Asset Funding Corporation amended to 30 days notice of change, cancellation or non-renewal. o 30 Days Notice of Cancellation ? Waiver of Subrogation endorsement is required, unless property is owner occupied. Co-insurance should not be a condition of any insurance provided. Loss of Rents/Business Interruption for 12 months (or in an amount equivalent to at least 12 months rent) is required. Boiler and Machinery coverage is required. If the insurance carrier for the Boiler & Machinery coverage is different from that of the Property Coverage, a Joint Loss Agreement endorsement must be reflected on the evidences of insurance for both Property coverage and Boiler & Machinery coverage. If the 438BFU Lender's Loss Payable Endorsement is not available, please submit another Loss Payable endorsement for review by General Electric Capital Business Asset Funding Corporation. LIABILITY: Evidenced on Form ▇▇▇▇▇ 25 - Certificate of Liability Insurance Coverage to be On Occurrence basis only. Evidence of Insurance, showing comprehensive general liability on an Occurrence Basis, in an amount not less than $2,000,000 (per occurrence) to include; Bodily injury and property damage liability (primary and excess umbrella acceptable to satisfy limits).

Perils. Fire and Extended coverage, vandalism and malicious mischief, Boiler and Machinery, and if applicable, Flood and Earthquake Insurance. Values: l00% Replacement cost value of property/Limit of $5,000 deductible ------ Endorsements Required: o Inflation Guard, and Agreed Amount and Replacement Cost endorsements o List of Locations and Schedule of Values, if Blanket Policy o 438BFU (Loss Payee Endorsement - see copy attached, with enlargement of same for easier reading), in favor of General Electric Capital Business Asset Funding Corporation amended to 30 days notice of change, cancellation or non-renewal. o 30 Days Notice of Cancellation ? Waiver of Subrogation endorsement is required, unless property is owner occupied. Co-insurance should not be a condition of any insurance provided. Loss of Rents/Business Interruption for 12 months (or in an amount equivalent to at least 12 months rent) is required. Boiler and Machinery coverage is required. If the insurance carrier for the Boiler & Machinery coverage is different from that of the Property Coverage, a Joint Loss Agreement endorsement must be reflected on the evidences of insurance for both Property coverage and Boiler & Machinery coverage. If the 438BFU Lender's Loss Payable Endorsement is not available, please submit another Loss Payable endorsement for review by General Electric Capital Business Asset Funding Corporation. LIABILITY: Evidenced on Form ▇▇▇▇▇ Acord 25 - Certificate of Liability Insurance Coverage to be On b▇ ▇▇ Occurrence basis only. Evidence of Insurance, showing comprehensive general liability on an Occurrence Basis, in an amount not less than $2,000,000 (per occurrence) to include; Bodily injury and property damage liability (primary and excess umbrella acceptable to satisfy limits).

Perils. Fire and Extended coverage, vandalism and malicious mischief, Boiler and Machinery, and if applicable, Flood and Earthquake Insurance. Values: l00% Replacement cost value of property/Limit of $5,000 deductible ------ Endorsements Required: o Inflation Guard, and Agreed Amount and Replacement Cost endorsements o List of Locations and Schedule of Values, if Blanket Policy o 438BFU (Loss Payee Endorsement - see copy attached, with enlargement of same for easier reading), in favor of General Electric Capital Business Asset Funding Corporation amended to 30 days notice of change, cancellation or non-renewal. o 30 Days Notice of Cancellation ? Waiver of Subrogation endorsement is required, unless property is owner occupied. Co-insurance should not be a condition of any insurance provided. Loss of Rents/Business Interruption for 12 months (or in an amount equivalent to at least 12 months rent) is required. Boiler and Machinery coverage is required. If the insurance carrier for the Boiler & Machinery coverage is different from that of the Property Coverage, a Joint Loss Agreement endorsement must be reflected on the evidences of insurance for both Property coverage and Boiler & Machinery coverage. If the 438BFU Lender's Loss Payable Endorsement is not available, please submit another Loss Payable endorsement for review by General Electric Capital Business Asset Funding Corporation. LIABILITY: Evidenced on Form ▇▇▇▇▇ 25 - Certificate of Liability Insurance Coverage to be On Occurrence basis only. Evidence of Insurance, showing comprehensive general liability on an Occurrence Basis, in an amount not less than $2,000,000 (per occurrence) to include; Bodily injury and property damage liability (primary and excess umbrella acceptable to satisfy limits).