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HomeMy WebLinkAboutAD05-332 - Insurance Certificate - Springboard Holdings, LLC - Certificate of Property Insurance - Swinerton Builders Northwest, Inc. - 08/01/2006 DAT MMIDD �I CbJ3D - O Rl -R 0 9E(19 0 6 - - --- g, ATE C}Ff PFOOPERT � T_x PRODUCER THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION Gallagher Construction ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE Services HOLDER THIS CERTIFICATE DOES NOT AMEND,EXTEND OR 580 California St. , Suite 1200 ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW San Francisco CA 94104-10 9 8 COMPANIES AFFORDING COVERAGE Gallagher Construction Svcs COMPANY Phone: 800-500-7202 Fax:415-391-1882 A Fireman's Fund Insurance Co. INSURED COMPANY B COMPANY Swinerton Builders C Northwest Inc. 3180 139ti Av SE, Ste. 250 COMPANY Bellevue WA 98005 D i y � N' - � THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED,NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAYBE ISSUED OR MAY PERTAIN THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS EXCLUSIONS AND CONDITIONS OF SUCH POLICIES LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS CO TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATIONCOVERED PROPERTY LIMITS LTR DATE(MWDD/YY) DATE(MM/DDlYY) PROPERTY BUILDING $ CAUSES OF LOSS PERSONAL PROPERTY $ BASIC BUSINESS INCOME $ BROAD EXTRA EXPENSE $ SPECIAL BLANKET BUILDING $ EARTHQUAKE BLANKET PERS PROP $ FLOOD BLANKET BLDG&PP $ $ A XJ INLAND MARINE MXI 98122543 08/01/06 08/01/07 BUILDERS RISE $ TYPE OF POLICY X LIMIT $ 10,000,000 Builders Risk X PROPERTY AT TEMP LO $ 500,000 CAUSES OF LOSS X PROPERTY IN TRANSIT $ 500,000 NAMED PERILS X DEDUCTIBLE $ 5,000 OTHER CRIME TYPE OF POLICY $ $ BOILER&MACHINERY - $ OTHER LOCATION OF PREMISES/DESCRIPTION OF PROPERTY' RE: Evidence of Covera ge SPECIAL CONDITIONS/OTHER COVERAGES Builder's Risk; Special Form: Risk of Direct Physical Loss Subject to policy terms, conditions & exclusions. * 10 day notice for nonpayment of premium CTYOFKE SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF,THE ISSUING COMPANY WILL E�AIL City of Rent 3 0* DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, ATTN: City Clerk 220 Fourth Avenue A Kent WA 98030 pp t f 8 r`re y j AUTHORIZED REPRESENTATIVE a_ _ —- r� _ � T�; � Q MOLDER CODE CT3COPi9,' `,� ^�• INSUREDS NAME Swi�3erton Builders_' OFI O DATE- 09/19/(! - First lien holder: The City of Rent Second Lien Holder: Centurion Financial Group RE: All Operations (Revision of cert issued 09/18/06) W ' POLICY NUMBER; MXI 98122543 COMMERCIAL PROPERTY NAMED INSURED Swinerton Builders Northwest, Inc CP 12 18 06 95 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. LOSS PAYABLE PROVISIONS This endorsement modifies insurance provided under the following: BUILDING AND PERSONAL PROPERTY COVERAGE FORM BUILDERS' RISK COVERAGE FORM CONDOMINIUM ASSOCIATION COVERAGE FORM CONDOMINIUM COMMERCIAL UNIT-OWNERS COVERAGE FORM STANDARD PROPERTY POLICY SCHEDULE Provisions Applicable Prem Bldg. Description Loss Payee Loss Lender's Contract No. No. of Property (Name& Payable Loss Payable Of Sale Address) X City of Kent, WA A When this endorsement is attached to the STANDARD PROPERTY POLICY CP 00 99 the term Coverage Part in this endorsement is replaced by the term Policy The following is added to the LOSS PAYMENT Loss Condition, as indicated in the Declarations or by an 'X'in the Schedule B LOSS PAYABLE For Covered Property in which both you and a Loss Payee shown in the Schedule or in the Declarations have an insurable interest,we wdl 1 Adjust losses with you, and 2 Pay any claim for loss or damage jointly to you and the Loss Payee, as interests may appear C LENDER'S LOSS PAYABLE 1 The Loss Payee shown in the Schedule or in the Declarations is a creditor, including a mortgageholder or trustee,whose interest in Covered Property is established by such written instruments as a Warehouse receipts, b A contract for deed, c Bills of lading, d Financing statements, or e Mortgages, deeds of trust, or security agreements 2 For Covered Property in which both you and a Loss Payee have an insurable interest a We will pay for covered loss or damage to each Loss Payee in their order of precedence, as interests may appear b The Loss Payee has the right to receive loss payment even if the Loss Payee has started foreclosure or similar action on the Covered Property c If we deny your claim because of your acts or because you have failed to comply with the terms of the Coverage Part, the Loss Payee will still have the right to receive loss payment if the Loss Payee (1) Pays any premium due under this Coverage Part at our request if you have failed to do so, (2)Submits a signed, sworn proof of loss within 60 days after receiving notice from us of your failure to do so, and (3)Has notified us of any change in ownership, occupancy or substantial change in risk known to the Loss Payee All of the terms of this Coverage Part will then apply directly to the Loss Payee. d. If we pay the Loss Payee for any loss or damage and deny payment to you because of your acts or because you have failed to comply with the terms of this Coverage Part (1)The Loss Payee's rights will be transferred to us to the extent of the amount we pay, and (2)The Loss Payee's rights to recover the full amount of the Loss Payee's claim will not be impaired At our option, we may pay to the Loss Payee the whole principal on the debt plus any accrued interest In this event, you will pay your remaining debt to us 3 If we cancel this policy,we will give written notice to the Loss Payee at least a 10 days before the effective date of cancellation if we cancel for your nonpayment of premium, or b 30 days before the effective date of cancellation if we cancel for any other reason 4 If we elect not to renew this policy,we will give written notice to the Loss Payee at least 10 days before the expiration date of this policy D. CONTRACT OF SALE 1 The Loss Payee shown in the Schedule or in the Declarations is a person or organization you have entered a contract with for the sale of Covered Property 2. For Covered Property in which both you and the Loss Payee have an insurable interest we will F a Adjust losses with you, and b Pay any claim for loss or damage jointly to you and the Loss Payee, as interests may appear 3 The following is added to the OTHER INSURANCE Condition: For Covered Property that is the subject of a contract of sale, the word "you"includes the Loss Payee CP 12 18 06 95 © ISO Commercial Risk Services, Inc., 1994