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HomeMy WebLinkAboutCOI - Eden Housing Management - Expires 2023-12-31ACc'RLP® EVIDENCE OF COMMERCIAL PROPERTY INSURANCE �..------ DATE(MM/DD/YYYY) 1/9/2023 THIS EVIDENCE OF COMMERCIAL PROPERTY INSURANCE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE ADDITIONAL INTEREST NAMED BELOW. THIS EVIDENCE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS EVIDENCE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE ADDITIONAL INTEREST. PRODUCER NAME, PHONE CONTACT PERSON AND ADDRESS /C, No, Extt: _j COMPANY NAME AND ADDRESS National Fire & Marine Insurance Co 1314 Douglas Street Suite 1400 Omaha, NE 68102 IF MULTIPLE COMPANIES, COMPLETE SEPARATE NAIC NO: 20079 Arthur J. Gallagher & Co. Insurance Brokers of CA. Inc. 595 Market Street, Suite 2100 San Francisco, CA 94105 License#: 0D69293 FORM FOR EACH FAX E-MAIL (A/C, No):(415) 536-8499 ADDRESS: Eileen_Morgado@ajg.com CODE: SUB CODE: POLICY TYPE Property CUSTOMER ID E: EDENHOU-02 NAMED INSURED AND ADDRESS Eden Housing, Inc. 22645 Grand Street Hayward CA 94541 LOAN NUMBER POLICY NUMBER DF00040101 EFFECTIVE DATE 12/31/2022 EXPIRATION DATE 12/31/2023 CONTINUED UNTIL TERMINATED IF CHECKED ADDITIONAL NAMED INSURED(S) Eden Housing Management THIS REPLACES PRIOR EVIDENCE DATED: PROPERTY INFORMATION (ACORD 101 may be attached if more space is required) 0 BUILDING OR X❑ BUSINESS PERSONAL PROPERTY LOCATION / DESCRIPTION Property Name: Monterra Village Apartments THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS EVIDENCE OF PROPERTY INSURANCE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. COVERAGE INFORMATION PERILS INSURED B X COMMERCIAL PROPERTY COVERAGE AMOUNT OF INSURANCE: $ 350,000,000 DED:$10,000 YES NO N/A © BUSINESS INCOME ❑ RENTAL VALUE X If YES, LIMIT:$350,000,000 X Actual Loss Sustained; # of months: 12 BLANKET COVERAGE X If YES, indicate value(s) reported on property identified above: $ TERRORISM COVERAGE X Attach Disclosure Notice / DEC IS THERE A TERRORISM -SPECIFIC EXCLUSION? X IS DOMESTIC TERRORISM EXCLUDED? X LIMITED FUNGUS COVERAGE X If YES, LIMIT:$250,000 DED:$10,000 FUNGUS EXCLUSION (If "YES", specify organization's form used) X REPLACEMENT COST X AGREED VALUE X COINSURANCE X If YES, EQUIPMENT BREAKDOWN (If Applicable) X If YES, LIMIT:$10,000,000 DED:$10,000 ORDINANCE OR LAW - Coverage for loss to undamaged portion of bldg X If YES, LIMIT:Included DED:$10,000 - Demolition Costs X If YES, LIMIT:Included DED: $10, 000 - Incr. Cost of Construction X If YES, LIMIT:Included DED: $10,000 EARTH MOVEMENT (If Applicable) X If YES, LIMIT: DED: FLOOD (If Applicable) X If YES, LIMIT: DED: WIND/ HAIL INCL ❑X YES El NO Subject to Different Provisions: X If YES, LIMIT:Included DED:$10,000 NAMED STORM INCL ❑X YES ❑ NO Subject to Different Provisions: X If YES, LIMIT: DED: PERMISSION TO WAIVE SUBROGATION IN FAVOR OF MORTGAGE HOLDER PRIOR TO LOSS X CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. ADDITIONAL INTEREST CONTRACT OF SALE MORTGAGEE LENDER'S LOSS PAYABLE LOSS PAYEE LENDER SERVICING AGENT NAME AND ADDRESS NAME AND ADDRESS City of Gilroy and its Mayor and City Council, Agents, Offices and Employees 7351 Rosanna Street Gilroy, CA 95020 II----++r-r R @' �t-I L/ L[r JAN 2 5 2023 GILROY CITY CLERK'S OFFICE AUTHORIZED REPRESENTATIVE ,;/ �� /; I; � /r ACORD 28 (2016/03) © 2003-2015 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD ACORO® AGENCY CUSTOMER ID: EDENHOU-02 LOC #: ADDITIONAL REMARKS SCHEDULE Page 1 of 1 AGENCY Arthur J. Gallagher & Co. Insurance Brokers of CA. Inc. NAMED INSURED Eden Housing, Inc. 22645 Grand Street Hayward CA 94541 POLICY NUMBER DF00040101 CARRIER National Fire & Marine Insurance Co NAIC CODE 20079 EFFECTIVE DATE: 12/31/2022 ADDITIONAL REMARKS THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER: 28 FORM TITLE: EVIDENCE OF COMMERCIAL PROPERTY INSURANCE REMARKS: Property Coverage - Shared & Layered Program - 12/31/2022 to 12/31/2023 Primary $10,000,000 National Fire & Marine Insurance - Policy # DF00040101 Lexington Insurance Company - Policy # 0062502784 Underwriters at Lloyds, London (Faraday Slip) - Policy # EW0164022 Underwriters at Lloyds, London (QBE Slip) - Policy # EW0163922 Steadfast Insurance Company - Policy # CPP041552800 $15,000,000 xs $10,000,000 Aspen Specialty Insurance Company - Policy # PXOOK9Q22 AXIS Suplus Insurance Company - Policy # ELF658375-22 Landmark American Insurance Company - Policy # LHD429793 Endurance American Specialty Insurance Company - Policy # ESP30000409405 StarStone Specialty Insurance Company - Policy # P70268220CSP $25,000,000 xs $25,000,000 Hallmark Specialty Insurance Company - Policy # 73PRX22B106 Endurance American Specialty Insurance Company - Policy # 01 BXPP000013553 Arch Specialty Insurance Company - Policy # ESP101972100 Kinsale Insurance Company - Policy # 01002201770 Underwriters at Lloyds, London (NOA Slip) - Policy # EW0169022 $50,000,000 xs $50,000,000 Homeland Insurance Company of New York - Policy # 795020877 $100, 000, 000 xs $100, 000, 000 Great American Insurance Company of New York - Policy #CPP173771106 $150,000,000 xs $200,000,000 Landmark American Insurance Company - Policy # LHD429793 Mitsui Sumitomo Insurance Company - Policy #EXP7000751 Equipment Breakdown National Fire & Marine Insurance - Policy # DF00040101 Lexington Insurance Company - Policy # 0062502784 Underwriters at Lloyds, London (Faraday Slip) - Policy # EW0164022 Underwriters at Lloyds, London (QBE Slip) - Policy # EW0163922 Continental Casualty Company - Policy # BM7036561194 Terrorism Coverage - $150,000,000 Underwriters at Lloyds of London - Policy # FC0180422 Terrorism Deductible - $25,000 Property Deductible - $10,000 AOP Other Significant Coverage Terms: - Blanket Building coverage includes ALL Properties for Eden Housing, Inc. - Wind and Hail included - The insurable value is 100% Replacement Cost value for the Project; however, there are no limitations within the policy tying loss recovery to the statement of values. The Blanket Limit is available for loss at any one location. Property Name: Monterra Village Apartments Property Address: 860-950 Mantelli Dr., Gilroy CA 95020 Named Insured Includes: Eden Housing Management, Inc. 30 Day Notice of Cancellation / 10 Day Notice for Non -Payment of Premium ACORD 101 (2008/01) © 2008 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD nnnnnn m na nnRSnA m Sari P C. LENDER'S LOSS PAYABLE 1. The Loss Payee shown in the Schedule or in the Declarations is a creditor, including a mortgageholder or trustee, whose interest in Covered Property is established by such writ- ten instruments as: a. Warehouse receipts; b. A contract for deed; c. Bills of lading; d. Financing statements; or e. Mortgages, deeds of trust, or security agreements. 2. For Covered Property in which both you and a Loss Payee have an insurable interest: a. We will pay for covered loss or damage to each Loss Payee in their order of prece- dence, as interests may appear. b. The Loss Payee has the right to receive loss payment even if the Loss Payee has started foreclosure or similar action on the Covered Property. c. If we deny your claim because of your acts or because you have failed to comply with the terms of the Coverage Part, the Loss Payee will still have the right to receive loss payment if the Loss Payee: (1) Pays any premium due under this Cov- erage Part at our request if you have failed to do so; (2) Submits a signed, sworn proof of loss within 60 days after receiving notice from us of your failure to do so; and Has notified us of any change in owner- ship, occupancy or substantial change in risk known to the Loss Payee. All of the terms of this Coverage Part will then apply directly to the Loss Payee. (3) d. If we pay the Loss Payee for any loss or damage and deny payment to you because of your acts or because you have failed to comply with the terms of this Coverage Part: (1) The Loss Payee's rights will be trans- ferred to us to the extent of the amount we pay; and (2) The Loss Payee's rights to recover the full amount of the Loss Payee's claim will not be impaired. At our option, we may pay to the Loss Payee the whole principal on the debt plus any accrued interest. In this event, you will pay your remaining debt to us. 3. If we cancel this policy, we will give written notice to the Loss Payee at least: a. 10 days before the effective date of cancel- lation if we cancel for your nonpayment of premium; or b. 30 days before the effective date of cancel- lation if we cancel for any other reason. 4. If we elect not to renew this policy, we will give written notice to the Loss Payee at least 10 days before the expiration date of this policy. D. CONTRACT OF SALE 1. The Loss Payee shown in the Schedule or in the Declarations is a person or organization you have entered a contract with for the sale of Covered Property. 2. For Covered Property in which both you and the Loss Payee have an insurable interest we will: a. Adjust losses with you; and b. Pay any claim for loss or damage jointly to you and the Loss Payee, as interests may appear. 3. The following is added to the OTHER INSUR- ANCE Condition: For Covered Property that is the subject of a contract of sale, the word "you" includes the Loss Payee. Page 2 of 2 Copyright, ISO Commercial Risk Services, Inc., 1994 CP 12 18 06 95