PRODUCER NAME, CONTACT PERSON AND ADDRESS FAX (A/C, No): CODE: AGENCY CUSTOMER ID #: NAMED INSURED AND ADDRESS ADDITIONAL NAMED INSURED(S) EVIDENCE OF COMMERCIAL PROPERTY INSURANCE PHONE (A/C, No, Ext): E-MAIL ADDRESS: POLICY TYPE LOAN NUMBER POLICY NUMBER DATE (MM/DD/YYYY) 6/29/2015 THIS EVIDENCE OF COMMERCIAL PROPERTY INSURANCE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE ADDITIONAL INTEREST NAMED BELOW. THIS EVIDENCE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS EVIDENCE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE ADDITIONAL INTEREST. Venbrook Insurance Services CA Lic 0D80832 6320 Canoga Avenue, 12th Floor Woodland Hills, CA 91367 Jennifer Morgan www.venbrook.com 818-598-8910 jmorgan@venbrook.com John S. Meek Company, Inc. 14732 South Maple Avenue Gardena CA 90248 818-598-8925 COMPANY NAME AND ADDRESS NAIC NO: 22837 SUB CODE: AGCS MARINE INSURANCE COMPANY Los Angeles CA 90017 EFFECTIVE DATE IF MULTIPLE COMPANIES, COMPLETE SEPARATE FORM FOR EACH EXPIRATION DATE 6/29/2015 1/31/2016 THIS REPLACES PRIOR EVIDENCE DATED: CONTINUED UNTIL TERMINATED IF CHECKED PROPERTY INFORMATION (Use REMARKS on page 2, if more space is required) BUILDING OR BUSINESS PERSONAL PROPERTY LOCATION / DESCRIPTION The City, its Boards, Officers, Agents, and Employees are included as loss payee with regard to the project at 6730-13800 Mulholland Drive & Crescent Drive, Beverly Hills, CA 90210. Project value $299,928 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 EVIDENCE OF PROPERTY INSURANCE MAY BE 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. COVERAGE INFORMATION PERILS INSURED COMMERCIAL PROPERTY COVERAGE AMOUNT OF INSURANCE: BUSINESS INCOME BLANKET COVERAGE TERRORISM COVERAGE IS THERE A TERRORISM-SPECIFIC EXCLUSION? IS DOMESTIC TERRORISM EXCLUDED? LIMITED FUNGUS COVERAGE FUNGUS EXCLUSION (If "YES", specify organization's form used) REPLACEMENT COST AGREED VALUE COINSURANCE EQUIPMENT BREAKDOWN (If Applicable) ORDINANCE OR LAW FLOOD (If Applicable) WIND / HAIL INCL ADDITIONAL INTEREST MORTGAGEE LENDERS LOSS PAYABLE NAME AND ADDRESS - Coverage for loss to undamaged portion of bldg - Demolition Costs EARTH MOVEMENT (If Applicable) NAMED STORM INCL RENTAL VALUE - Incr. Cost of Construction PERMISSION TO WAIVE SUBROGATION IN FAVOR OF MORTGAGE HOLDER PRIOR TO LOSS CANCELLATION YES YES NO NO Subject to Different Provisions: Subject to Different Provisions: CONTRACT OF SALE BASIC BROAD SPECIAL $ 299,928 1,000 YES NO N/A If YES, indicate value(s) reported on property identified above: $ Attach Disclosure Notice / DEC If YES, 100 % LENDER SERVICING AGENT NAME AND ADDRESS AUTHORIZED REPRESENTATIVE Actual Loss Sustained; # of months: SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. LOSS PAYEE CITY OF LOS ANGELES and its Boards, Officers, Agents, and Employees CAO-RISK MANAGEMENT MAIL STOP 132, CITY HALL EAST 1240 200 NORTH MAIN STREET LOS ANGELES CA 90012-4190 ACORD 28 (2014/01) Page 1 of 2 2003-2014 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD 25358478 BLDRS RISK MUHOLLAND PROJECT Jennifer Morgan 6/29/2015 1:37:07 PM (PDT) Page 1 of 7
John S. Meek Company, Inc. 6/29/2015 INSURANCE BINDER for Crown Realty & Development, Inc. (Pol # SY251) Date: 27 Jun 2014 This binder is issued subject to all the terms and conditions of the policy regularly issued by the Company in the state or province in which the property is located. However, if there is any inconsistency or conflict with the terms and conditions of said policy, other than statutory, the terms and conditions of this binder will take precedence. A. POLICY TERM: 30-June-2014 to 30-June-2015 B. NAMED INSURED: Crown Realty & Development, Inc., and its wholly or majority owned subsidiaries and any interest which may now exist or hereinafter be created or acquired which are owned, controlled or operated by any one or more of those named insureds. 9. Notice of Cancellation: Section G. General Conditions Item 17. Cancellation is replaced by the following wording: 17. Cancellation: a) The first named Insured may cancel this policy at any time by surrendering the policy to this company or by mailing or delivering advance written notice of cancellation to this company. b) This company may cancel this policy by mailing or delivering written notice of cancellation to the first named insured at the address as stated in the declarations section, not less than: 2) Ten (10) days before the effective date of cancellation for non-payment of premium. c) If this policy is cancelled, written notice of cancellation also will be mailed or delivered to Lenders Loss Payables and Mortgagees as their interests may appear in this policy or as shown on Certificates of Insurance issued on behalf of the first named Insured and on file with this company, not less than: 2) Ten (10) days before the effective date of cancellation for non-payment of premium; or 3) Ten (10) days after the first named Insured cancels this policy. Proof of mailing or delivery will be sufficient proof of notice. d) This company will return unearned premium to the first named Insured: 1) On a pro-rata basis if this company cancels this policy. 2) At 90% of the pro-rata basis if the first named Insured cancels this policy. 25358478 BLDRS RISK MUHOLLAND PROJECT Jennifer Morgan 6/29/2015 1:37:07 PM (PDT) Page 2 of 7
10. Mortgagee and Lenders Loss Payable Interests and Obligations The following is added to section G. General Conditions. Mortgagee/Lenders Loss Payable: a) Loss or damage, if any, to specified property insured under this policy shall be payable to each specified Mortgagee and Lenders Loss Payable (hereinafter collectively called Lender) as its interest may appear, in addition to the first named Insured or as the first named Insured directs. b) This insurance as to the interest of the Lender shall not be invalidated by: 1) Any act or neglect of the debtor, mortgagor, or owner (as the case may be) of the property. 2) Foreclosure, notice of sale, or similar proceedings with respect to the property. 3) Change in the title or ownership of the property. 4) Change to a more hazardous occupancy. The Lender will notify this company of any known change in ownership, occupancy, or hazard and, within 10 days of written request by this company, may pay the increased premium associated with such known change. If the Lender fails to pay the increased premium, all coverage under this policy will cease. c) If the first named Insured fails to render proof of loss within the time provided in this policy, the Lender shall render proof of loss within sixty days after having knowledge of the first named Insured s failure in the form and manner provided by this policy, and, further, shall be subject to the provisions of this policy relating to Appraisal, Legal Action Against this Company, When Loss Payable and the time of payment and bringing suit. d) Whenever this company shall pay the Lender for loss or damage under this policy and shall deny payment to the debtor, mortgagor or owner, this company shall, to the extent of such payment, be subrogated to the rights of the Lender under all collateral held to secure the debt or mortgage. No subrogation shall impair the right of the Lender to recover the full amount due. At its option, this company may pay to the Lender the whole principal due on the debt or mortgage plus any accrued interest. In this event, all rights and securities will be assigned and transferred from the Lender to this company, and the remaining debt or mortgage will be paid to this company. e) This company may invoke this policy s Suspension clause. The suspension of insurance will apply to the interest of the Lender in any machine, vessel, or part of any machine or vessel subject to the suspension. This company will provide the Lender at the last reported address a copy of the suspension notice. 25358478 BLDRS RISK MUHOLLAND PROJECT Jennifer Morgan 6/29/2015 1:37:07 PM (PDT) Page 3 of 7
INSURANCE BINDER for Crown Realty & Development, Inc. (Pol # SY251) Date: 27 Jun 2014 This binder is issued subject to all the terms and conditions of the policy regularly issued by the Company in the state or province in which the property is located. However, if there is any inconsistency or conflict with the terms and conditions of said policy, other than statutory, the terms and conditions of this binder will take precedence. A. POLICY TERM: 30-June-2014 to 30-June-2015 B. NAMED INSURED: Crown Realty & Development, Inc., and its wholly or majority owned subsidiaries and any interest which may now exist or hereinafter be created or acquired which are owned, controlled or operated by any one or more of those named insureds. 9. Notice of Cancellation: Section G. General Conditions Item 17. Cancellation is replaced by the following wording: 17. Cancellation: a) The first named Insured may cancel this policy at any time by surrendering the policy to this company or by mailing or delivering advance written notice of cancellation to this company. b) This company may cancel this policy by mailing or delivering written notice of cancellation to the first named insured at the address as stated in the declarations section, not less than: 2) Ten (10) days before the effective date of cancellation for non-payment of premium. c) If this policy is cancelled, written notice of cancellation also will be mailed or delivered to Lenders Loss Payables and Mortgagees as their interests may appear in this policy or as shown on Certificates of Insurance issued on behalf of the first named Insured and on file with this company, not less than: 2) Ten (10) days before the effective date of cancellation for non-payment of premium; or 3) Ten (10) days after the first named Insured cancels this policy. Proof of mailing or delivery will be sufficient proof of notice. d) This company will return unearned premium to the first named Insured: 1) On a pro-rata basis if this company cancels this policy. 2) At 90% of the pro-rata basis if the first named Insured cancels this policy. 25358478 BLDRS RISK MUHOLLAND PROJECT Jennifer Morgan 6/29/2015 1:37:07 PM (PDT) Page 4 of 7
10. Mortgagee and Lenders Loss Payable Interests and Obligations The following is added to section G. General Conditions. Mortgagee/Lenders Loss Payable: a) Loss or damage, if any, to specified property insured under this policy shall be payable to each specified Mortgagee and Lenders Loss Payable (hereinafter collectively called Lender) as its interest may appear, in addition to the first named Insured or as the first named Insured directs. b) This insurance as to the interest of the Lender shall not be invalidated by: 1) Any act or neglect of the debtor, mortgagor, or owner (as the case may be) of the property. 2) Foreclosure, notice of sale, or similar proceedings with respect to the property. 3) Change in the title or ownership of the property. 4) Change to a more hazardous occupancy. The Lender will notify this company of any known change in ownership, occupancy, or hazard and, within 10 days of written request by this company, may pay the increased premium associated with such known change. If the Lender fails to pay the increased premium, all coverage under this policy will cease. c) If the first named Insured fails to render proof of loss within the time provided in this policy, the Lender shall render proof of loss within sixty days after having knowledge of the first named Insured s failure in the form and manner provided by this policy, and, further, shall be subject to the provisions of this policy relating to Appraisal, Legal Action Against this Company, When Loss Payable and the time of payment and bringing suit. d) Whenever this company shall pay the Lender for loss or damage under this policy and shall deny payment to the debtor, mortgagor or owner, this company shall, to the extent of such payment, be subrogated to the rights of the Lender under all collateral held to secure the debt or mortgage. No subrogation shall impair the right of the Lender to recover the full amount due. At its option, this company may pay to the Lender the whole principal due on the debt or mortgage plus any accrued interest. In this event, all rights and securities will be assigned and transferred from the Lender to this company, and the remaining debt or mortgage will be paid to this company. e) This company may invoke this policy s Suspension clause. The suspension of insurance will apply to the interest of the Lender in any machine, vessel, or part of any machine or vessel subject to the suspension. This company will provide the Lender at the last reported address a copy of the suspension notice. 25358478 BLDRS RISK MUHOLLAND PROJECT Jennifer Morgan 6/29/2015 1:37:07 PM (PDT) Page 5 of 7
LENDERS LOSS PAYEE AND MORTGAGE HOLDER INTERESTS AND OBLIGATIONS 6.10.01. When specified in the Policy or in Certificates of Insurance on file with the Company, the Company will pay for covered loss to property insured under this Policy to each: 6.10.01.01. Lender Loss Payee (hereinafter referred to as Lender) as its interest may appear, in order of precedence; or 6.10.01.02. Mortgagee as its interest may appear, in order of precedence. 6.10.02. The interest of the specified Lender or Mortgagee in property insured under this Policy will not be invalidated by: 6.10.02.01. Any act or neglect of any Insured. 6.10.02.02. Commencement of foreclosure, notice of sale, or similar proceedings with respect to the property. 6.10.02.03. Change in the title or ownership of the property. 6.10.02.04. Change to a more hazardous occupancy. 6.10.03. The Lender or Mortgagee will notify the Company of any known change in ownership, occupancy, or hazard and, within ten (10) days of written request by the Company, may pay the increased premium associated with such known change. If the Lender or Mortgagee fails to pay the increased premium, all coverage under this Policy will cease. 6.10.04. In the event of a claim, upon request of the Company, the Lender or Mortgagee will cooperate in any claim investigation. 6.10.05. If this Policy is cancelled at the request of the Insured or its agent, the coverage for the interest of the Lender or Mortgagee will terminate ten (10) days after the Company sends to the Lender or Mortgagee written notice of cancellation, unless: 6.10.05.01. Earlier terminated by authorization, consent, approval, acceptance, or ratification of the Insured's action by the Lender, Mortgagee, or its agent. 6.10.05.02. This Policy is replaced by the Insured, with a policy providing coverage for the interest of the Lender or Mortgagee, in which event coverage under this Policy with respect to such interest will terminate as of the effective date of the replacement policy, notwithstanding any other provision of this Policy. 6.10.06. The Company may cancel this Policy and/or the interest of the Lender or Mortgagee under this Policy, by sending the specified Lender or Mortgagee written notice sixty (60) days prior to the effective date of cancellation, if cancellation is for any reason other than non-payment of premium. If the Insured has failed to pay any premium due under this Policy, the Company may cancel this Policy for such non-payment, but will send the Lender or Mortgagee written notice ten (10) days prior to the effective date of cancellation. If the Lender or Mortgagee fails to pay the premium due by the specified cancellation date, all coverage under this Policy will cease. 6.10.07. The Company has the right to invoke this Policy's Suspended Property clause. When the Company suspends the insurance, it will apply to the interest of any Lender or Mortgagee. The Company will send the specified Lender or Mortgagee, at the last known address, a copy of such notice. 6.10.08. If the Company pays a Lender or Mortgagee for any loss, and denies payment to the Insured, the Company will, to the extent of the payment made to the Lender or Mortgagee be subrogated to the rights of the Lender or Mortgagee under all securities held as collateral. No subrogation will impair the right of the Lender or Mortgagee to recover the full amount of its claim. At its option, the Company may pay to a Lender or Mortgagee the whole principal due on the debt or mortgage plus any accrued interest and charges. In this event, all rights and securities will be assigned and transferred from the Lender or Mortgagee to the Company, and the remaining debt or mortgage will be paid to the Company. EDGE-100-B (12/10) 25358478 BLDRS RISK MUHOLLAND PROJECT Jennifer Morgan 6/29/2015 1:37:07 PM (PDT) Page 6 of 7
6.10.09. If the Insured fails to render proof of loss, the Lender or Mortgagee, upon notice of the Insured's failure to do so, will render proof of loss within sixty (60) days of notice and will be subject to the Insured s duties, obligations and provisions of this Policy when presenting a claim. 6.10.10. In no event will the amount payable to a Lender or Mortgagee exceed the amount which would be payable to the Named Insured EDGE-100-B (12/10) 25358478 BLDRS RISK MUHOLLAND PROJECT Jennifer Morgan 6/29/2015 1:37:07 PM (PDT) Page 7 of 7