F^esidentlal Community Association Poiicy

Transcription

1 A STOCK COMPANY WITH HOME OFFICES IN BLOOMINGTON. ILLINOIS RENEWAL DECLARATIONS Johns Duluth, GA 3\ Named Insured ATS R FB3A F V THE VILLAS OF WEST ASHLEY CONDO ASSOCIATION INC ODESSA GROUP PO BOX 1703 MT PLEASANT SC Policy Number 99-EP Policy Period Effective Date Expiration Date 12 Months JAN JA^I The poiicy period begins and ends at 12:01 am standard time atthe premises location. Agent and Mailing Address GAIL WILLIAMSON 1715 RITTENBRG BLVD CHARLESTON SC PHONE: (843) F^esidentlal Community Association Poiicy Automatic Ranewa! - If the policy period is shown as 12 months, this policy will be renewed automatically subject to the premiums, rules and forms in effectfor each succeeding policy period. If this policy is terminated, we will give you and the Mortgagee/Lienholder written notice in compliance with the policy provisions or as required by law. Entity: CONDOMIfNllUM NOTICE: Information concerning changes in your policy language is included. Please call your agent if you have any questions. POLICY PREMIUM $ 46, Discounts Applied: Renewal Year Age of Building Multiple Unit Claim Record COUNTY: CHARLESTON THIS POLICY CONTAINS A SEPARATE DEDUCTIBLE FOR NAMED STORM OR WIND/HAIL LOSSES, WHICH MAY RESULT IN HIGH OUT-OF-POCKET EXPENSES TO YOU. THE ENCLOSED EXAMPLE ILLUSTRATES HOW THE DEDUCTIBLE MIGHT AFFECT YOU. DEC Copyright State Farm Mutual Automobile Insurance Company, 2008 CMP-4000 Includes copyrighted material of Insurance Services Office, Inc., with its permission I Continued on Reverse Side of Page Page 1 of 10 N 3P HD bso B86a.2 Ob (oimaic)

2 RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY SECTION I - PROPERTY BLANKET Coverage A - Buildings Coverage B - Business Personal Property Limit of Insurance* $11,145,300 $ 49,900 Location Number Location of Described Premises < m r MARY ADER RD CHARLESTON SO ' A-D ASHLEY VILLA CIR i '.-\ A-D ASHLEY VILLA CIR ] ' A-D ASHLEY VILLA CIR A-D ASHLEY VILLA CIR A-D ASHLEY VILLA CIR A-D ASHLEY VILLA CIR 008 i A-D ASHLEY VILLA CIR,1! DEC Copyright, State Farm Mutual Automobile Insurance Company, 2008 :,,-50. ; CMP-4000 Includescopyrightedmaterialof Insurance Services Office, Inc., with its permission Continued on Next Page Page 2 of 10

3 RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY Location Number Location of Described Premises A-D ASHLEY VILLA CIR A-D ASHLEY VILLA CIR A-D ASHLEY VILLA CIR A-D ASHLEY VILLA CIR A-D ASHLEY VILLA CIR A-B ASHLEY VILLA CIR A-B ASHLEY VILLA CIR A-B ASHLEY VILLA CIR A-B ASHLEY VILLA CIR A-B ASHLEY VILLA CIR DEC Copyright State Farm Mutual Automobile Insurance Company.ZODB CMP 4000 includes copyrighted material of Insurance Services Office, Inc., with its permission, Continued on Reverse Side of Page N

4 I, M RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY, Location Number Location of Described Premises 019 : V 126 A-B ASHLEY VILLA CIR - AUXILIARY STRUCTURES Location Number Description 001A Pool! J > 001B ENTRANCE GATE HOUSE ' ' 001C STREET SIGNS 001 D MAIL DISTRIBUTION ' 001E IRON FENCING As of the effective date of this policy, the Limit of Insurance as shown includes any increase in the limit due to Inflation Coverage. SECTION I - INFLATION COVERAGE INDEXfES) Inflation Coverage Index: SECTION I - DEDUCTIBLES Basic Deductible $10,000 DEC Copyright, State Farm Mutual Automobile Insurance Company, ZD08 j -, CMP-4000 Includes copyrighted material of Insurance Services Office, Inc., with its permission Continued on Next Page Page 4 of 10

5 RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY Special Deductibles: n Earthquake 2% Hurricane Duration 5% * Money and Securities $250 Employee Dishonesty $250 Equipment Breakdown $2,500 Other deductibles may apply - refer to policy. SECTION I - EXTENSIONS OF COVERAGE - LIMIT OF INSURANCE - EACH DESCRIBED PREMISES The coverages and corresponding limits shown below apply separately to each described premises shown In these Declarations, unless indicated by "See Schedule." If a coverage does not have a corresponding limit shown below, but has "Included" indicated, please refer to that policy provision for an explanation of that coverage. COVERAGE LIMIT OF INSURANCE Collapse Damage To Non-Owned Buildings From Theft, Burglary Or Robbery Debris Removal Equipment Breakdown Fire Department Service Charge Fire Extinguisher Systems Recharge Expense Glass Expenses i Included Coverage B Limit 25% of covered loss Included $5,000 $5,000 Included Increased Cost Of Construction And Demolition Costs (applies only when buildings are insured on a replacement cost basis) Newly Acquired Business Personal Property (applies only if this policy provides Coverage B - Business Personal Property) Newly Acquired Or Constructed Buildings (applies only if this policy provides Coverage A - Buildings) Ordinance Or Law - Equipment Coverage Preservation Of Property Water Damage, Other Liquids, Powder Or Molten Material Damage 10% $100,000 $250,000 Included 30 Days Included DEC Copyright State Farm Mutual Automobile Insurance Company, 2008 CMP-4000 Includes copyrighted material of Insurance Services Office, Inc., with its permission Continued on Reverse Side of Page Page 5 of 10 N

6 M RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY *i. 4» i 1 SECTION I - EXTENSIONS OF COVERAGE - LIMIT OF INSURANCE - EACH COMPLEX The coverages and corresponding limits shown below apply separately to each complex as described in the policy. " COVERAGE. I.... Accounts Receivable &, v On Premises M ; '., Off Premises Arson Reward Forgery Or Alteration Money And Securities (Off Premises), Money And Securities (On Premises) Money Orders And Counterfeit Money " " t Outdoor Property LIMIT OF INSURANCE $50,000 $15,000 $5,000 $10,000 $5,000 $10,000 $1,000 $10,000 la Personal Effects (applies only to those premises provided Coverage B - Business Personal Property) i Personal Property Off Premises.-j:. $2,500 $15,000 Pollutant Clean Up And Removal! ->>:-,d Property Of Others (applies only to those premises provided Coverage B - Business Personal Property) ^. Signs c:^.;:.,l V'^C - - Valuable Papers And Records On Premises ^, ^ Off Premises $10,000 $2,500 $2,500 $10,000 $5,000 DEC CMP Copyright, State Farm Mutual Automobile Insurance Company, 2008 Includes copyrighted material of Insurance Services Office, Inc., with its permission. Continued on Next Page Page 6 of 10

7 RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY SECTION I - EXTENSIONS OF COVERAGE - LIMIT OF INSURANCE PER POLICY The coverages and corresponding limits shown below are the most we will pay regardless of the number of described premises shown in these Declarations. COVERAGE Back-Up of Sewer or Drain Employee Dishonesty Loss Of Income And Extra Expense LIMIT OF INSURANCE Included $25,000 Actual Loss Sustained -12 Months SECTION I! - LIABILITY LIMIT OF COVERAGE INSURANCE Coverage L - Business Liability $1,000,000 Coverage M - Medical Expenses (Any One Person) $5,000 Damage To Premises Rented To You $300,000 Directors And Officers Liability $1,000,000 LIMIT OF AGGREGATE LIMITS INSURANCE Products/Completed Operations Aggregate $2,000,000 General Aggregate $2,000,000 Directors and Officers Aggregate $1,000,000 Each paid claim for Liability Coverage reduces the amount of insurance we provide during the applicable annual period. Please refer to Section11 - Liability in the Coverage Form and any attached endorsements. DEC Copyright, State Farm Mutual Automobile Insurance Company, 2008 CMP-4000 Includes copyrighted material of Insurance Services Office, Inc., with its permission Continued on Reverse Side of Page Page 7 of 10 N

8 RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY Your policy consists of these Declarations, the BUSINESSOWNERS COVERAGE FORM shown below, and any other forms and endorsements that apply, including those shown below as well as those issued subsequent to the issuance of this policy. FORMS AND ENDORSEMENTS CMP-4100 Businessowners Coverage Form FE 'Terrorism Insurance Cov Notice CMP-4814 Directors & Officers Liability CMP Amendatory Endorsement CMP-4719 Earthquake Volcanic Eruption CMP Hurricane Duration Deductible CMP-4550 Residential Community Assoc CMP-4746 " Hired Auto Liability CMP-4710 y- Employee Dishonesty CMP-4508 Money and Securities CMP-4705 Loss of Income & Extra Expnse FD-6007 Inland Marine Attach Dec * New Form Attached ".mm AC: SCHEDULE OF ADDITIONAL INTERESTS Interest Type: Mortgagee Endorsement #: N/A Loan Number: GREEN TREE SERVICING LLC ITS AFFILIATES AND OR ASSIGNS PO BOX MIAMI FL c : : DEC Copyright, State Farm Mutual Automobile Insurance Company, zoos, :, 1 CMP-4000 Includes copyrighted material of Insurance Services Office, Inc., with its permission ,1 Continued on Next Page Page 8 of 10

9 RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY This policy is issued by the State Farm Fire and Casualty Company. Participating Policy You are entitled to participate in a distribution of the earnings of the company as determinsd by our Board of Directors in accordance with the Company's Articles of Incorporation, as amended. In Witness Whereof, the State Farm Fire and Casually Company has caused this policy to be signed by its President and Secretary at Bloomington, Illinois. President NOTICE TO POLICYHOLDER: For a comprehensive description of coverages and forms, please refer to your policy. Policy changes requested before the "Date ", whidi appear on this notice, are effective on the Renewal Date of this policy unless otherwise indicated by a separate endorsement, binder, or amended declarations. Any coverage forms attached to this notice are also effective on the Renewal Date of this policy. Policy changes requested after the "Date " will be sent to you as an amended declarations or as an endorsement to your policy. Billing for any additional premium for such changes will be mailed at a later date. If, during the past year, you've acquired any valuable property items, made any improvements to Insured property, or have any questions about your insurance coverage, contact your State Farm agent. Please keep this with your policy. DEC CMP N Copyright, State Farm IVIiitual Automobile Insurance Company, 2008 Includes copyrighted material of Insurance Services Office, Inc, with its permission. Continued on Reverse Side of Page Page 9 of 10

10 M RENEWAL DECLARATIONS (CONTINUED) Residential Community Association Policy for THE VILLAS OF WEST ASHLEY Your coverage amount... It is up to you to choose the coverage and limits that meet your needs. We recommend that you purchase a coverage limit equal to the estimated replacement cost of your structure. Replacement cost estimates are available from building contractors and replacement cost appraisers, or, your agent can provide an estimate from Xactware, lnc. using information you provide about your structure. We can accept the type of estimate you choose as long as it provides a reasonable level of detail about your structure. State Farm*does not guarantee that any estimate will be the actual future cost to rebuild your structure. Higher limits are available at higher premiums. Lower limits are also available, as long as the amount of coverage meets our underwriting requirements. We encourage you to periodically review your coverages and limits with your agent and to notify us of any changes or additions to your structure. <1. - J DEC ' Copyright, State Farm Mutual Automobile Insurance Company, 2008 CMP-4000 Includes copyrighted material of Insurance Services Office, Inc., with its permission,,' _, Page 10 of 10 N

11 A STOCK COMPANY WITH HOME OFFICES IN BLOOMINGTON, ILLINOIS INLAND MAKING ATTACHING DECLARATIONS Policy Number 99-EP Named Insured R FB3A F V Policy Period Effective Date Expiration Date 12 Months JAN JAW The policy perioci begins and ends at 12:01 am standard time attlie premises location. THE VILLAS OF WEST ASHLEY CONDO ASSOCIATION INC ODESSA GROUP PO BOX 1703 MT PLEASANT SC ATTACHING INLAND MARINE Automatic Renewal - If tlie policy period is shown as 12 months, liiis policy will be renewed automaticallv subject to the premiums, rules and forms in effectfor each succeeding policy period. If this policy is terminated, we will give you and the Mortgagee/Lienholder written notice in compliance with the policy provisions or as required by law. Annual Policy Premium Included The above Premium Amount is included in the Policy Premium shown on the Declarations, Your policy consists of these Declarations, the INLAND MARINE CONDITIONS shown below, and any other forms and endorsements that apply, including those shown below as well as those issued subsequentto the issuance of this policy. Forms, Options, and Endorsements FE-8739 FE-8743 Inland Marine Conditions Inland Marine Computer Prop See Reverse for Schedule Page with Limits DEC FD-6007 Copyright, State Farm Mutual Automobile Insurance Company, 200S Includes copyrighted material of Insurance Services Office, Inc., with its permission. 04Q283!i3l.S86a, Iu1lil232cl

12 ATTACHING INLAND MARINE SCHEDULE PAGE M AHACHING INLAND MARINE ENDORSEMENT NUMBER COVERAGE LIMIT OF INSURANCE DEDUCTIBLE AMOUNT ANNUAL PREMIUM FE-8743 Inland Marine Computer Prop Loss of Income and Extra Expense 10,000 10, Included Included ~* --. ' 1 H HI' 1 > OTHER LIMITS AND EXCLUSIONS MAY APPLY - REFER TO YOUR POLICY DEC Copyright, State Farm Mutual Automobile insurance Company, , FD-6007 ' includes copyrighted material of Insurance Services Office, Inc., with its permission BB6a flH lo1f3233cl

13 StateFarm 99-EP FE Page 1 of 1 In accordance with the Terrorisnn Risk Insurance Reauthorization Act of 2007, this disclosure is part of your poiicy. POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE Coverage for acts of terrorism is not excluded from your current policy. However your policy does contain other exclusions which may be applicable, such as an exclusion for nuclear hazard. You are hereby notified that under the Terrorism Risk Insurance Act, as amended in 2007, the definition of act of terrorism has changed. As defined in Section 102(1) of the Act: The term "act of terrorism" means any act that is certified by the Secretary of the Treasury in concurrence with the Secretary of State, and the Attorney General of the United States to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. Under this policy, any covered losses resulting from certified acts of terrorism may be partially reimbursed by the United States Government under a formula established by the Terrorism Risk Insurance Act, as amended. Under the formula, the United States Government generally reimburses 85% of covered terrorism losses exceeding the statutorily established deductible paid by the insurance company providing the coverage. The Terrorism Risk Insurance Act, as amended, contains a $100 billion cap that limits U.S. Government reimbursement as well as insurers' liability for losses resulting from certified acts of terrorism when the amount of such losses exceeds $100 billion in any one calendar year. If the aggregate insured losses for all insurers exceed $100 billion, your coverage may be reduced. There is no separate premium charged to cover insured losses caused by terrorism. Your insurance policy establishes the coverage that exists for insured losses. This notice does not expand coverage beyond that described in your policy. THIS IS YOUR NOTIFICATION THAT UNDER THE TERRORISM RISK INSURANCE ACT, AS AMENDED, ANY LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM UNDER YOUR POLICY MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT AND MAY BE SUBJECT TO A $100 BILLION CAP THAT MAY REDUCE YOUR COVERAGE. FE

14 SC.l MMPORTANT NOTICE... about your policy PREMIUM DISCOUNT FOR HURRICANE LOSS MITIGATION The risk of loss from a hutxicane is something that you may someday face. We know that hurricanes cannot be prevented. However, certain construction techniques or fixtures that have been implemented or installed may be effective in reducing the amount of loss to property. And if your property has these unique characteristics, you may qualify for a discount on your insurance premiums. The availability of the discounts described below will vary by property location. Appropriate documentation will be required to verify qualification. Policyholders who present evidence that qualifies them for the new discounts will be granted retroactivity back to January 1, 2008 or the date when the feature was installed, whichever is more recent. A. Hurricane Storm Shutter or Re.si.stant Glass Description of Mitigation Measure A discount is applied to the property premium for the use of qualifying building opening protection devices. For the discount to apply, the following conditions must be met: 1. Building opening protective devices (shutters, storm panels, doors, garage doors, patio doors, and window assemblies) must have been tested and/or certified as having passed the American Society of Testing and Materials A.STM E (standard test method) and ASTM E (standard.specification) or the Dade County (Florida) Building Code Compliance Office. 2. The devices must be installed by a profes.sional contractor to the manufacturers.specifications. 3. ALL exterior doors, windows, garage doors, and patio doors must be protected with approved devices that meet the criteria in L and 2. above. 4. Building opening protection devices must not be made of plpvood, or be otherwise homemade. B. Roof Tie Down.s A discount is applied to the premium for a qualifying roof tie down. Discount Range 5%-10% 0% - 4% Hurricane Oeductlbie Options Commercial Multi Peril 2% Varies by policy type and location 5% Varies by policy type and location 10% Varies by policy t^^pe and location 15% Varies by policy type and location (Continiu'd) (CONTINUED)

15 All Peril Deductible Options S500 Apartment and Condo/Association Policies Business, Church and Contractors Policies X SI.000 X X $1,500 X X S2.000 X X 52,500 X X 53,000 X X S3,500 X X 54,000 X X 54,500 X X $5,000 X X $6,000 X X $7,000 X X 58,000 X X $9,000 X X SIO.OOO X X $15,000 X X $20,000 X X $25,000 X X Premiums take into account property location which includes the impacts of elevation and distance from water. *^ Please keep in mind that by accepting a larger deductible your premium may be lower; however, you will be responsible for greater portion of each covered loss., If you believe you qualify for these discounts, please contact your State Farm* agent. " " ' SCI (C) (12/09) r- i : (CONTINUED)

16 StateFarm 99-EP SC.2 Important Reminder... THIS POLICY CONTAINS A SEPARATE DEDUCTIBLE FOR NAMED STORM OR WIND/HAIL LOSSES, WHICH MAY RESULT IN HIGH OUT-OF-POCKET EXPENSES TO YOU. Your poliqr contains a Hurricane Duration deductible. This special deductible applies only to accidental direct physical loss to Covered Property caused by wind, wind gusts, hail, rain, tornadoes, lightaing (except covered fire losses caused by lightning), cyclones, civil authority or power outage resulung fixim a storm system that triggers or occurs within the hurricane duration. The Hurricane Duration deductible is a percentage (%) of the Coverage A Building limit and/or your Coverage B Business Personal Property limits hsted on the most recent Declarations at the time of loss. Your pohcy deductible still appmes to all other property damage losses. Here are two examples of how a percentage Hurricane Duration deductible is applied. Let's assume your Coverage A Building and Coverage B Business Personal Property Umit are both $100,000 and you have $20,000 in covered damage to your building and $10,000 in covered damage to your Business Personal Property. 5% Hurricane Duration Deductible Amount of loss/damage to your building = $20,000 Amount of loss/damage to Business Personal Property = $10,000 Amount you are responsible for under a 5% Hurricane Duration deductible (5100,000 x.05) = $ 5,000 Amount you are responsible for under a 5% Hurricane Duration deductible ($100,000 x.05) = S Portion of damage/loss payable by State Farm* = $15,000 Portion of damage/loss payable by State Farm = $ 5,000 10% Hurricane Duration Deductible Amount of loss/damage to your building = $20,000 Amount of loss/damage to Business Personal Property = $10,000 Amount you are responsible for under a 10% Hurricane Duration deductible ($100,000 x.10) = $10,000 Amount you are responsible for under a 10% Hurricane Duration deductible ($100,000 x.10) = $10,000 Portion of damage/loss payable by State Farm = $10,000 Portion of damage/loss payable by State Farm = $0 You can change your Hurricane Duration deductible to other available deductible options. Keep in mind, your premium will be lower if you select a higher Hurricane Duration deductible, however, as illustrated in the examples above, a higher deductible means you will be responsible for a greater portion of the loss. Contact your State Farm agent if you have any quesuons about your Hurricane Durafion deductible options SC.2 (C)

17 StateFarm STATE FARM FIRE AND CASUALTY COMPANY Johns Creek Parkway Duluth. GA BALANCE DUE NOTICE POLICY NUMBER 99-EP Residential Community Association Policy m i R FB3A THE VILLAS OF WEST ASHLEY CONDO ASSOCIATION INC ODESSA GROUP PO BOX 1703 MT PLEASANT SC DATE DUE SEE NOTE PLEASE PAY THIS AMOUNT SEE NOTE Full payment by Date Due continues this policy to JAN PREMIUM * <i6, 'J' Location: Important Message(s) NOTE: Do not pay. Payment is being made through State Farm Payment Plan. Account # Agent GAIL WILLIAMSON Telephone (843) I Please fold and tear here j See reverse for important information. Please l<eep this part for your record. DEC StateFarm MOVING? PLEASE SEE YOUR STATE FARM AGENT. INSURED THE VILLAS OF WEST ASHLEY CONDO ASSOCIATION INC POLICY NUMBER 99-EP CONDOMINIUM R-1428-FB3A PLEASE RETURN THIS PART WITH YOUR CHECK MADE PAYABLE TO STATE FARM DATE DUE SEE NOTE PLEASE PAY THIS AMOUNT SEE NOTE ggg lai u.a HM'm» -.or office use only : DEC I (o1f309za) 5134 M40278 FIRE BAL DUE >