The basic form is comparable to the old extended coverage endorsement
: it includes hail and most of the other EC perils.
The company said that the closing of the financing transaction is subject to the satisfaction of conditions precedent including, but not limited to, property and public liability insurance including all risk insurance (with extended coverage endorsement
) on the borrower's real and personal property as required including lands, buildings, equipment and inventory in amounts and from an insurer acceptable to PCLC showing PCLC as low payee or mortgagee by way of standard mortgage endorsement.
Even the extended coverage endorsement
is silent on the question.
by obtaining insurance coverage expressly excluding "terrorism." The lease required that the tenant maintain insurance coverage against loss or damage by fire and other named perils included under the terms of the New York Standard Fire Insurance Policy and Extended Coverage Endorsement in effect in 1989.
Section 6.01 (a) of the lease requires tenants to "keep and maintain" insurance for the value of the building "against loss or damage by fire and against loss or damage by other risks included under the standard Extended Coverage Endorsement as presently adopted for use with the New York Standard Fire Insurance Policy, in an amount not less than the full insurable value of the building".