Common Contracts

INSURANCE - OWNER

March 9th, 2020

• Filed
  March 9th, 2020

Property Insurance. During the term of this Agreement, Owner shall cause to be placed and kept in full force and effect a policy or policies of insurance covering loss or damage to the Property in an amount not to exceed the full replacement value of the Property, providing protection against all perils, including fire, flood (if required), vandalism, malicious mischief, and extended coverage for perils (open peril). Insurance coverage shall be in conformance with the bond or other lender covenants relating to the financing of the Property, if any. In addition, Owner shall cause to be placed and kept in full force and effect a policy of rental value insurance covering a period of one