Special Hazard Area definition
Examples of Special Hazard Area in a sentence
The insurance shall (a) cover explosion of steam and pressure boilers and similar apparatus, if any, located on the Property, and (b) cover floods if the Property is in a Special Hazard Area, as determined by the Federal Emergency Management Agency or as shown on a National Flood Insurance Program flood map.
In addition, Borrower shall maintain flood insurance if any part of the improvements located on the Property is located in an area now or hereafter designated by the Federal Emergency Management Agency as a Zone “A” & “V” Special Hazard Area, or such other Special Hazard Area, in amounts required by Lender in its discretion.
Furthermore, if such Unit is located in a flood hazard zone, Borrower shall have executed and delivered to Bank (upon Bank’s request), a Notice of Special Hazard Area in form and substance satisfactory to Bank.