Fractional Dutch Auctions of Commercial Income-Producing Real Estate Properties - TIC Plan Ownership Syndications

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Due Diligence Documentation "Exhibit P-10"

Property Insurance Binder - Property & Casualty

The following notes are provided pertaining to this exhibit:

  1. What: all projects are required to provide property and casualty insurance naming the Syndicate purchasers (and the Developer/Sponsor) as "also-insured".  Typically, this includes coverage for wind, fire, earthquake, hail, business interruption, business liability insurance and any Syndicate-mandated keyman life insurance.

  2. When: the Project Insurance Manager provides a sample binder prior to the commencement of the syndication process.

  3. Why: the interests of the Syndicate must be protected from the most common hazards and resulting business claims.

  4. Where: these documents are kept on file at the Design/Builder's offices and the Developer/Sponsor's offices in an electronic file.

  5. How: all insurance is subject to approval of the premium and coverage amounts.

  6. What's important: the proposed Project must have demonstrated insurance coverage at levels and costs that are commercially available and acceptable to the Syndicator.

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