Extract to table

Coverage must be written on a replacement cost basis, without deduction for depreciation, and must include an agreed amount endorsement or, alternatively, a waiver of the coinsurance clause

The coverage amount must be not less than the full replacement cost of all improvements and personal property, as determined by a qualified appraiser or insurance underwriter

If windstorm perils are excluded from the all-risk policy (as is common for properties in the Florida Keys), a separate windstorm policy must be procured providing coverage at full replacement cost

4 General Liability Insurance The Borrower is required to maintain commercial general liability ("CGL") insurance with minimum limits as specified in the Loan Agreement

7 Workers' Compensation and Employer's Liability The Borrower is required to maintain workers' compensation insurance as required by the laws of the State of Florida, covering all employees working at or in connection with the Property

8 Automobile Liability The Borrower is required to maintain business automobile liability insurance covering all owned, hired, and non-owned vehicles used in connection with the Property's operations