Common use of Required Insurance Clause in Contracts

Required Insurance. For the duration of the Lease, each Resident is required to maintain and provide the following minimum required insurance coverage: $50,000 Limit of Liability for Resident’s legal liability for damage to the Landlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects (“Minimum Required Insurance”). Each Resident is required to furnish Landlord with evidence of Minimum Required Insurance prior to the first day of the month of the commencement date of their lease and prior to the first day of the month of any renewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease and Landlord shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident for all costs and expenses associated with such purchase. Resident may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such insurance for the duration of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance, the Minimum Required Insurance provision of the Lease may be satisfied by Landlord, who may schedule the Resident or their unit for coverage under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage shall be charged to Resident by the Landlord. Some important points of this coverage, which Resident should understand are:

Required Insurance. For the duration of the Lease, each Resident is required to maintain and provide the following minimum required insurance coverage: $50,000 Limit of Liability for Resident’s legal liability for damage to the Landlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects (“Minimum Required Insurance”). Each Resident is required to furnish Landlord with evidence of Minimum Required Insurance prior to the first day of the month of the commencement date of their lease and prior p r i or to the first t he f i r s t day of the o f t he month of any renewal periodr enewal per i od. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease and Landlord shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident for all costs and expenses associated with such purchase. Resident may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such insurance for the duration of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance, the Minimum Required Insurance provision of the Lease may be satisfied by Landlord, who may schedule the Resident or their unit for coverage under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage shall be charged to Resident by the Landlord. Some important points of this coverage, which Resident should understand are:

Required Insurance. For the duration of the Lease, each Resident is required to maintain and provide the following minimum required insurance coverage: $50,000 Limit of Liability for Resident’s legal liability for damage to the Landlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects (“Minimum Required Insurance”). Each Resident is required to furnish Landlord with evidence of Minimum Required Insurance prior to the first day of the month of the commencement date of their lease and prior to the first day of the month of any renewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease and Landlord shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident for all costs and expenses associated with such purchase. Resident may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such insurance for the duration of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance, the Minimum Required Insurance provision of the Lease may be satisfied by Landlord, who may schedule the Resident or their unit for coverage under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage shall be charged to Resident by the Landlord. Some important points of this coverage, which Resident should understand are:

Required Insurance. ADDITION TO LEASE AGREEMENT This Addendum is attached to and becomes a part of the Residential Lease Agreement. For the duration of the LeaseLease Agreement, each Resident Tenant is required to maintain and provide the following minimum required insurance coverage: ● $50,000 100,000 Limit of Liability for ResidentLessee’s legal liability for damage to the Landlordlandlord’s property for no less than the following causes of loss: fire, smoke, explosion, water damage, backup or overflow of sewer, drain or sump, water damage, and falling objects sump (“Minimum Required Insurance”). Each Resident Tenant is required to furnish Landlord Verandah Properties, LLC with evidence of Minimum Required Insurance prior to occupancy of leased premises and at the first day time of the month of the commencement date of their each lease and prior to the first day of the month of any renewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident time, Tenant does not have Minimum Required Insurance, Resident Tenant is in breach of the Lease Agreement and Landlord landlord shall have, in addition to any other rights under the LeaseLease Agreement, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident Tenant for all costs and expenses associated with such purchase. Resident Tenant may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of ResidentTenant’s choicechoice and is required to list Verandah Properties, LLC as an interested party to the policy. If Resident Tenant furnishes evidence of such insurance and maintains such the insurance for the duration of the LeaseLease Agreement, then nothing more is required. If Resident Tenant does not maintain Minimum Required Insurance, the Minimum Required Insurance provision insurance requirement of the this Lease Agreement may be satisfied by Landlord, who may schedule the Resident or their Tenant’s unit for coverage under the Landlord’s Required Resident Liability Insurance Policy insurance policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost to the Landlord for the LRRL coverage shall be charged to Resident Tenant by the Landlord. Some important points of this coverage, which Resident tenant should understand are:

Required Insurance. For Borrower and its direct or indirect Subsidiaries, shall maintain or cause to be maintained insurance on their properties and assets against fire, casualty, public liability, as well as general liability, and other liability insurance related to the duration business of the LeaseLoan Parties as is customary for such business, each Resident is required to maintain all in such amounts, with such deductibles and provide with such insurers as are customary for such business (the following minimum required insurance coverage: $50,000 Limit of Liability for Resident’s legal liability for damage to the Landlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects (“Minimum Required Insurance”). Each Resident is required All of the policies relating to furnish Landlord with evidence of Minimum the Required Insurance shall contain standard “lender loss payable” and “additional insured” clauses issued in favor of Lender (where applicable) pursuant to which all losses thereunder shall be paid to Lender as Lender’s interests may appear. Such policies shall expressly provide that the Required Insurance cannot be canceled without sixty (60) days’ (or ten (10) days with respect to nonpayment of premium) prior written notice to Lender. At or prior to the first day Closing Date, Borrower shall furnish Lender with insurance certificates certified as true and correct and being in full force and effect as of the month Closing Date or such other evidence of the commencement date of their lease and prior to the first day of the month of any renewal periodRequired Insurance as Lender may require. In the event that evidence Borrower fails to procure or cause to be procured any of Minimum the Required Insurance is not so provided, or to timely pay or cause to be paid the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first premium(s) on any of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach Lender may do so for Borrower and its direct or indirect Subsidiaries, if any, but Borrower shall continue to be liable for the same. Borrower further covenants that all insurance premiums owing under their respective current casualty policy or policies will be paid when due. Borrower also agrees to notify Lender, promptly, upon Borrower’s receipt of the Lease and Landlord shall havea notice of termination, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement cancellation or non-renewal from the Resident for all costs and expenses associated with such purchase. Resident may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or its insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such insurance for the duration any of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance. Borrower hereby appoints Lender as its attorney-in-fact, exercisable at Lender’s option upon the Minimum Required Insurance provision occurrence and during the continuance of an Event of Default, to endorse any check which may be payable to Borrower in order to collect the proceeds of the Lease may be satisfied by Landlord, who may schedule the Resident or their unit for coverage under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage shall be charged to Resident by the Landlord. Some important points of this coverage, which Resident should understand are:Insurance.

Required Insurance. ADDITION TO LEASE AGREEMENT This Addendum is attached to and becomes a part of the Residential Lease Agreement. For the duration of the LeaseLease Agreement, each Resident Tenant is required to maintain and provide the following minimum required insurance coverage: ● $50,000 100,000 Limit of Liability for ResidentXxxxxx’s legal liability for damage to the Landlordlandlord’s property for no less than the following causes of loss: fire, smoke, explosion, water damage, backup or overflow of sewer, drain or sump, water damage, and falling objects sump (“Minimum Required Insurance”). Each Resident Tenant is required to furnish Landlord Verandah Properties, LLC with evidence of Minimum Required Insurance prior to occupancy of leased premises and at the first day time of the month of the commencement date of their each lease and prior to the first day of the month of any renewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident time, Tenant does not have Minimum Required Insurance, Resident Tenant is in breach of the Lease Agreement and Landlord landlord shall have, in addition to any other rights under the LeaseLease Agreement, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident Tenant for all costs and expenses associated with such purchase. Resident Tenant may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of ResidentTenant’s choicechoice and is required to list Verandah Properties, LLC as an interested party to the policy. If Resident Tenant furnishes evidence of such insurance and maintains such the insurance for the duration of the LeaseLease Agreement, then nothing more is required. If Resident Tenant does not maintain Minimum Required Insurance, the Minimum Required Insurance provision insurance requirement of the this Lease Agreement may be satisfied by Landlord, who may schedule the Resident or their Tenant’s unit for coverage under the Landlord’s Required Resident Liability Insurance Policy insurance policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost to the Landlord for the LRRL coverage shall be charged to Resident Tenant by the Landlord. Some important points of this coverage, which Resident tenant should understand are:

Required Insurance. For the duration of the Lease, each Resident is required to maintain and provide the following minimum required insurance coverage: $50,000 Limit of Liability for Resident’s legal liability for damage to the Landlord’s property for no jno less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects (“Minimum Required Insurance”). Each Resident is required to furnish Landlord with evidence of Minimum Required Insurance prior to the first day of the month of the commencement date of their lease and prior to the first p r i o r t o t he f i r s t day of the o f t he month of o f any renewal r enewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease and Landlord shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident for all costs and expenses associated with such purchase. Resident may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such insurance for the duration of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance, the Minimum Required Insurance provision of the Lease may be satisfied by Landlord, who may schedule the Resident or their unit for coverage under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage shall be charged to Resident by the Landlord. Some important points of this coverage, which Resident should understand are:

Required Insurance. For the duration of the LeaseLease Agreement, each Resident Tenant is required to maintain and provide the following minimum required insurance coverage: • $50,000 100,000 Limit of Liability for ResidentTenant’s legal liability for damage to the Landlordlandlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects (“Minimum Required Insurance”)objects. Each Resident • Tenant is required to furnish Landlord Agent with evidence of Minimum Required Insurance prior to occupancy of leased premises, for the first day duration of the month Lease, and at the time of the commencement date of their lease and prior to the first day of the month of any renewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current montheach Lease renewal. If at any time Resident Tenant does not have Minimum Required Insurance, Resident Tenant is in breach of the Lease Agreement and Landlord Agent shall have, in addition to any other rights under the LeaseLease Agreement, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident Tenant for all costs and expenses associated with such purchase. Resident • Tenant may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance or broader coverage from an insurance agent or insurance company of ResidentTenant’s choice. If Resident Tenant furnishes evidence of such insurance and maintains such the insurance for the duration of the LeaseLease Agreement, then nothing more is required. • If Resident Tenant does not maintain Minimum Required Insurance, the Minimum Required Insurance provision insurance requirement of the this Lease Agreement may be satisfied by LandlordAgent, who may schedule the Resident or their unit for coverage under Tenant’s home in the Landlord’s Required Master Resident Liability Insurance Policy Program (“LRRLMRLP”). The coverage provided under the LRRL MRLP will provide satisfy the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage of the MRLP shall be charged as additional rent to Resident the Tenant by the LandlordAgent. Some important points of this coverageprogram, which Resident Tenant should understand are:: • MRLP is not personal liability insurance or renter’s insurance. Agent makes no representation the MRLP covers the Tenant’s personal property (contents), additional living expense or liability arising out of bodily injury to any third party. If Tenant requires any of these coverages, then Tenant should contact an insurance agent or insurance company of Tenant’s choice. • The MRLP may be more expensive than the cost of Minimum Required Insurance obtainable by Tenant elsewhere. At any time, Tenant may contact an insurance agent or insurance company of their choice for insurance options to satisfy the Minimum Required Insurance under the Lease Agreement. • The total cost to the Tenant for agent enrollment in the MRLP is Thirteen Dollars and No Cents ($13.00) per month. • If Tenant obtains Minimum Required Insurance or broader coverage from an insurance agent or insurance company of Tenant’s choice, Tenant agrees to: • Name 4676 S Detroit Toledo, OH 43614 as an additional insured interest; and • Name Alta Program Insurance Agency, LLC as an additional interest • 0000 Xxxxxxx Xxxxxx Xxxxx, Xxx 000, Xxxxxxx Xxxxx, XX 00000 • Enrollment in the MRLP is not mandatory, and Tenant may purchase Minimum Required Insurance or broader coverage from an insurance agent or insurance company of Resident’s choice, after which time enrollment in the MRLP will be terminated by the Agent. • Xxxxxx agrees to pay Agent this amount in addition to all other obligations in the Lease Agreement. Xxxxxx also agrees to pay the cost of the MRLP monthly with rent. Tenant understands that any liability insurance Agent purchases for itself under this section will not cover you for your loss or damage to your personal property – only a renter’s policy does this. By initialing below, you acknowledge and agree to the terms in Section 12. X DB Don Butte

Required Insurance. This Addendum is attached to and becomes a part of the Residential Lease Agreement. For the duration of the Lease, each Resident is required to maintain and provide the following minimum required insurance coverage: coverage (“Required Insurance”): • Minimum $50,000 100,000 Limit of Liability for Resident’s legal liability for damage to the Landlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, and water damage, and falling objects (“Minimum Required Insurance”). Each Resident is required to furnish Landlord with evidence of Minimum Required Insurance prior to occupancy of leased premises and at the first day time of the month of the commencement date of their each lease and prior to the first day of the month of any renewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease and Landlord shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage protecting the sole interest of the Landlord and seek contractual reimbursement from the Resident for all costs and expenses associated with such purchase. Resident This may obtain renter’s be referred to as “force placed insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease”. Resident may obtain such insurance Required Insurance or broader coverage from an insurance agent or insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such the insurance for the duration of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance, the Minimum Required Insurance provision insurance requirement of the this Lease may be satisfied by Landlord, who may schedule the Resident or their unit for purchase such coverage under through the Landlord’s Required Resident Legal Liability Insurance Policy (“LRRLLLIP”). The coverage provided under the LRRL LLIP will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost to the Landlord for LRRL the LLIP coverage shall be charged to Resident by the LandlordLandlord as a recoverable expense under the Lease. Some important points of this coverage, which Resident should understand are:

Required Insurance. For the duration of the Lease, each Resident is required to maintain and provide the following minimum required insurance coverage: $50,000 Limit of Liability for Resident’s legal liability for damage to the Landlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects (“Minimum Required Insurance”). Each Resident is required to furnish Landlord with evidence of Minimum Required Insurance prior to the first day of the month of the commencement date of their lease and prior to the first p r i o r t o t he f i r s t day of the o f t he month of o f any renewal r enewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease and Landlord shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident for all costs and expenses associated with such purchase. Resident may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such insurance for the duration of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance, the Minimum Required Insurance provision of the Lease may be satisfied by Landlord, who may schedule the Resident or their unit for coverage under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage shall be charged to Resident by the Landlord. Some important points of this coverage, which Resident should understand are: