Coach 2013 Annual Report Download - page 322

(e) Crime insurance covering the Board of Managers and all officers, directors and employees of the Condominium
including a Managing Agent’s Rider and of the Managing Agent with limits of not less than $1,000,000 per loss.
(f) Directors’ and Officers’ Errors and Omissions insurance with respect to the Board of Managers with limits of no less
than $1,000,000.
(g) Automobile liability insurance for all owned, non-owned and hired vehicles insuring against liability for bodily injury
and death and for property damage in amount not less than $1,000,000 combined single limit.
(h) Environmental liability covering environmental hazards arising from the Premises and discovered or occurring after the
Substantial Completion Date, or through sudden and accidental release, in an amount not less than $25,000,000 per discovery and in the aggregate.
(i) Commercial General Liability policy of insurance in the then most current form of ISO CG 001 [07 98] (which includes
water damage insurance), or equivalent liability coverage, with limits of not less than $1,000,000 per occurrence and $2,000,000 annual aggregate per location,
and an Umbrella or Excess Liability policy which is no less broad than the underlying Commercial General Liability policy, including Cross Liability
coverage (if available) covering one insured against another, Notice and Knowledge of Occurrence, Unintentional Errors and Omissions, and Contractual
Liability Products and Completed Operations Liability coverage, with limits of not less than $100,000,000 per occurrence and annual aggregate per location, or
in such higher limits as the Board of Managers, from time to time, may determine. If this coverage is provided by a blanket policy with multiple locations,
coverage must be provided with a per location aggregate. The policy or policies described in this subsection (f) shall name, as additional insureds, each of the
Unit Owners and any Sub-Board, together with their respective subsidiaries, affiliates, directors, officers, members, managers, partners, agents, employees,
servants and assignees, managing agents, Permitted Mortgagees, if any, and Declarant Net Lessees, and such other entities as shall reasonably be requested
shall be included as additional insured(s), except that such policy will not cover the liability of a Unit Owner arising from occurrences within or about its own
Unit or its Exclusive Use Common Elements.
(j) The Board of Managers shall, in the exercise of good business judgment and good insurance practices, obtain and
maintain terrorism insurance in a sufficient amount to cover the full value of the General Common Elements, to the extent available at commercially reasonable
rates, Such other insurance as the Board of Managers may determine advisable or necessary from time to time (the insurance referred to in clauses (a) through
(i), collectively, the “Board of Managers Insurance”). The Board of Managers Insurance shall have deductibles in such amounts that are standard and
customary in a building of this nature and value and reflective of what is commercially available as the Board of Managers, from time to time, may
reasonably determine. The Board of Managers shall review the limits of Board of Managers Insurance as needed.
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