Pivotal Point LLLP/Everett Housing Authority 7/7/2025

1. General Contractor's Commercial General Liability Insurance:General Contractor must continue to carry Products and Completed Operations insurance for a minimum of three (3) years following completion of construction. 2. Architect's&Engineer's Professional Liability/Errors&Omissions Insurance:Each entity must continue to carry the same Professional Liability insurance coverage as required in B.6 for a minimum of three(3)years following completion of construction. 3. Owner's Commercial General Liability Insurance: The Managing Member shall cause the Company to continue to carry the same insurance coverages as required in B.1. with the following additional loss control requirement to be implemented: • Contains a deductible of no greater than$10,000. 4. Property(Special Cause of Loss Form)Insurance:Insurance on the project covering risks of direct physical loss. • Such insurance shall be in an amount equal to 100%replacement value of the property. • The policy shall provide Replacement Cost coverage. • The policy shall include an Agreed Amount Clause or Waiver of Coinsurance. • The maximum deductible is$10,000 per occurrence(except when a separate wind-loss deductible applies,then the amount must not exceed 5%of the face amount of the policy). 5. Business Interruption Insurance-Loss of income insurance shall be carried in an amount equal to 12 months anticipated gross rental income from tenant occupancy(including any commercial portion) of the property plus Tax Credit.. 6. Windstorm Coverage - If the Special Causes of Loss Form property damage insurance excludes wind-related events, a separate windstorm insurance policy shall be obtained for 100% replacement cost of the property. The policy must include business interruption. The maximum deductible is 3%. 7. Flood - PNC Real Estate requires flood insurance if any property is, or planned to be located, in a Special Flood Hazard Area designated by FEMA as Zone A or V in an amount equal to the full replacement cost and 12 months Business Income coverage. The maximum deductible is 2%of the total insured value per building. If this coverage amount is more than the maximum amount of insurance available under the National Flood Insurance Program, an excess flood or difference in conditions policy may be required for the difference. 8. Earthquake-Where the Property is located in an area prone to seismic activity(zones 3&4)and has a PML greater than 20%, earthquake insurance is required for the life of the investment. Coverage must equal 100% of the full replacement cost, include Business Interruption, and have a maximum deductible of 5%-10%of the total insured value. 9. Ordinance and Law Coverage-Where the Property represents an non-conforming use under current building,zoning,or land use laws or ordinances,insurance shall be obtained in the following amounts: *Loss of Undamaged Portion of the Building-Full replacement cost of the structure minus the local threshold; * Demolition Cost = Minimum of 10% of replacement cost; and * Increased Cost of construction-Minimum of 10%of the replacement cost. 10. Extended Period of Indemnity-Business Interruption(Loss of Rents)coverage shall be extended for a minimum of three months after property is ready for occupancy following a casualty. 11. Owner's Boiler & Machinery Insurance: Required where any centralized HVAC equipment is in operation at the Property or where the Property contains boilers or other pressure-fired vessels that are required to be regulated by the State as follows: • Boiler and Machinery Insurance shall be required for the full replacement cost of the building that houses the equipment. • Coverage against,loss or damage from steam boiler explosion,electrical breakdown or mechanical breakdown which can include refrigeration equipment, air conditioning equipment,various types of piping,turbines,engine's pumps,compressors,electric motors,transformers and other assorted types of apparatus now or hereafter installed on the Property. • Coverage shall be extended to include Business Income. • Deductibles must be equal or lower than the deductibles on the Property Insurance Policy 12. Property Manager's Insurance Requirements: Project Manager (i.e., the property management company)shall maintain and provide evidence of insurance for the following: • Worker's Compensation Coverage pursuant to statutory limits required by law.