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81 <br />Confidential Information of R4 Capital Funding LLC <br /> <br /> <br />Little Canada-Lupe - Borrower Loan Agreement - LC Apartments(199386221.3) - 5/12/2026 6:38:21 PM <br /> <br />R4 Capital Funding LLC <br />Tax Exempt Bond Investment Standards <br /> <br />v4.4 March 2022 <br /> <br />INSURANCE REQUIREMENTS DURING CONSTRUCTION <br />PERIOD FOR <br />PARTNERSHIP <br /> <br />1. Builders’ Risk <br />a) Policy Form: Coverage to be provided on an “All Risk” or “Special Form” basis using a <br />completed value non- reporting Builder’s Risk form to insure damage to project/property under <br />construction, including existing structures, for 100% of the replacement cost of the construction <br />value (including contingency),12 months Business Interruption (loss of rents), and Soft Costs <br />(see section 1.i below). <br />b) Named Insured: Partnership <br />c) Loss Payee: “Limited Partner, ISAOA” and R4 Capital LLC (for R4 Equity) <br />d) Mortgagee: “Fiscal Agent or Trustee” (as designated by R4CF), R4 Capital Funding LLC and R4 <br />Servicer LLC (for R4CF Debt). <br />e) Terrorism Insurance: Required for all projects with a replacement cost equal to or greater than <br />$20 million, and/or if located in a high-risk area. For projects with a replacement cost under $20 <br />million and not in a high- risk location, terrorism coverage is not mandatory. <br />f) Blanket Insurance Coverage: Any of the insurance coverages required hereunder may be <br />provided by a “blanket” insurance policy affording protection to multiple locations owned, <br />operated by, or affiliated with the Insureds or Additional Insureds, provided, however, that: <br />(i) Any such “blanket” policy shall make available to the Project on a “per–location” basis no <br />less than the limits of protection, terms and conditions required hereunder as though the <br />insurance were provided on a standalone basis; and <br />(ii) R4 determines, in the exercise of its sole and absolute discretion, that the amount of such <br />coverage is sufficient considering the other risks and properties insured under the blanket <br />policy. A copy of the most recent Schedule of Values or confirmation of values under <br />construction is required. <br />g) Deductible: The maximum deductible for “All Other Perils” allowable under the Builder’s Risk is: <br /> <br />For Project Specific Builder’s Risk Policies: <br /> <br />Total Project Value Maximum Per Occurrence Deductible <br />>$10M $50,000 <br />≥ $10M $75,000