Blanket and Other Policies Covering Multiple Properties

Guidance

A Schedule of Values is a list of insurable values (all elements of the Total Insurable ValueTotal Insurable ValueFor any Property, the sum of the full value of the insured's: covered Property; Property-related business income values; and any other covered Property interests. ) the BorrowerBorrowerPerson who is the obligor per the Note. provides to an insurance company for all properties covered under a property insurance policy.

You should:

• review and analyze the Schedule of Values and geographical concentration and/or aggregated values of PropertiesPropertiesMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). /Total Insurable ValuesTotal Insurable ValuesFor any Property, the sum of the full value of the insured's: covered Property; Property-related business income values; and any other covered Property interests. under the Blanket PolicyBlanket PolicyInsurance policy providing coverage for multiple properties and/or multiple perils. ; and.
• confirm that Blanket Insurance Limits:
  • are limited to a 1 per occurrence shared limit for:
    • more than 1 property;
    • more than 1 category of coverage; or
    • both;
  • will be reinstated to the pre-loss limits after a casualty; and
  • are sufficient to cover the largest Total Insurable ValueTotal Insurable ValueFor any Property, the sum of the full value of the insured's: covered Property; Property-related business income values; and any other covered Property interests. .