Arrive First Hill 8/28/2025 - Laserfiche WebLink

Page 1 of 2 REQUIRED INSURANCE ADDENDUM TO I EASE AGREEMENT Date: 08/21/2025 Property Owner: CP5 Arrive on Seventh,LLC Resident(s): City of Everett-Everett Fire Department and any unknown occupants Dwelling No:lAddress: 600 7th Avenue 524, Seattle, WA, 98104 Lease Date: 08/21/2025 This Addendum is attached to and becomes a part of the Residential Lease Agreement. For the duration of the Lease, Lessee is required to maintain and provide the following minimum required insurance coverage: • $100000.00 Limit of Liability for Lessee's legal liability for damage to Lessor's property for no less than the following causes of loss: fire, smoke, explosion,backup or overflow of sewer, drain or sump, and water damage ("Required Insurance"). • The required personal liability insurance policy must cover all residents in your unit. The policy must identify Trinity- CP5 Arrive on Seventh,LLC and P.O.Box 477 Lehi,UT 84043 as an "Additional Interest" or"Interested Party"where the "Additional Interest"must be notified within ten (10) days in the event your insurance company or agent cancels or non-renews your policy. • Failure to include Trinity- CP5 Arrive on Seventh,LLC as the "Additional Interest"or "Interested Party"with the above-listed address will constitute a breach of this Lease. Resident agrees to maintain, at Resident's sole expense, during the Term of the Lease and any subsequent renewal periods, a policy of personal liability insurance satisfying such requirements. Lessee is required to furnish Lessor with evidence of Required Insurance prior to occupancy of leased premises and at the time of each lease renewal period. If at any time Lessee does not have Required Insurance,Lessee is in breach of the Lease and Lessor shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Required Insurance coverage protecting the sole interest of the Lessor and seek contractual reimbursement from the Lessee for all costs and expenses associated with such purchase. • Resident acknowledges that property or liability insurance maintained by Arrive First Hill may not protect against loss or damage to Resident's personal property or belongings, or cover Resident's liability for loss or damage caused by the actions of Resident or any occupant of the Unit. Resident also acknowledges that by not maintaining a policy of personal liability insurance, they may be personally liable to others,including, if applicable, Arrive First Hill, for loss or damage caused by the actions of Resident or any occupant in the Unit. Resident further acknowledges receipt of notice from Arrive First Hill requiring Resident to maintain a policy of personal liability insurance, which provides limits of liability to third parties in an amount not less than $ 100000.00 per occurrence. Lessee may obtain Required Insurance or broader coverage from an insurance agent or insurance company of Lessee's choice. If Lessee furnishes evidence of such insurance and maintains the insurance for the duration of the Lease, then nothing more is required. If Lessee does not maintain Required Insurance, the insurance requirement of this Lease may be satisfied by Lessor, who may purchase such coverage through the Lessor's Legal Liability Insurance Policy ("LLIP"). The coverage provided under the LLIP will provide the Required Insurance coverage listed above. Some important points of this coverage, which Lessee should understand are: 1. LLIP is designed to fulfill the insurance requirement of the Lease. Lessor is the Insured under the LLIP. This is single interest forced placed insurance. Lessee is not an Insured,Additional Insured or beneficiary under the LLIP. All loss payments are made to the Lessor. )2021,Trinity Property Consultants