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84 <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 />m) Flood: Flood insurance is required for any building* that is part of the project that is fully or <br />partially located in a Special Flood Hazard Area (SFHA) Zone A or V, as defined by the Federal <br />Emergency Management Agency (FEMA). <br /> <br />For each building that is fully or partially located in a SFHA, R4 requires flood insurance equal to at least the <br />following: <br /> <br />(v) The RCV of the first two floors of the building above grade, plus <br />(vi) The RCV of any floors below grade, plus <br />(vii) 12 months of business income/rental value associated with the building, and <br />(viii) The insurable value of owned contents or business personal property within the building. <br /> <br />*R4 does not require flood insurance for low-value, non-residential structures located in a SFHA. Such <br />structures include maintenance buildings, storage sheds, pool houses, carports, laundry buildings, and <br />gatehouses. <br /> <br />Coverage may be provided by the Builder’s Risk insurer by endorsing the policy to include Flood as a covered <br />peril, or by a National Flood Insurance Plan (“NFIP”) policy in the amount equal to the lesser of the full <br />insurable value or $500,000 per building with a deductible not to exceed $10,000 per building, with excess <br />coverage provided for the difference (if any) between the maximum limit provided by NFIP policy(ies) and <br />the full insurable value under the Builder’s Risk/Property policy or a Difference in Conditions policy for the <br />completed value of the project. <br /> <br />The following are the maximum deductibles allowed for flood insurance policies: <br /> <br />Building <br />• $50,000 per building for a Project/Property with 10 buildings or less located in SFHAs <br />• $500,000 per occurrence for a Project/Property with more than 10 buildings located in SFHAs <br /> <br />Business Income/Rental Value <br />• 15 days waiting period when expressed as a time-element deductible <br />• $100,000 per occurrence when expressed as a monetary deductible <br />