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112 <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 />PERMANENT INSURANCE <br />REQUIREMENTS FOR <br />PARTNERSHIP <br /> <br />1. Property Insurance. <br />The Partnership is to insure damage to property on the following minimum terms, coverage extensions and <br />conditions: <br />a) Policy Form: All Risk <br />b) Named Insured: Partnership <br />c) Loss Payee: <br />For Equity – “Limited Partner, ISAOA” and R4 Capital LLC <br />For Debt - Trustee (mortgagee with first priority mortgage lien) with a standard mortgagee or mortgage <br />holder’s clause and loss payable clause in favor of, and in a form, acceptable to R4. <br />d) Limits: <br />(i) Building(s) (real property) is/are to be insured for 100% of Replacement Cost Value <br />(“RCV”) including an Inflation Guard endorsement (if available). <br />(ii) Contents (personal property) is to be insured for full Replacement Cost <br />(iii) Business Interruption / Loss of Rents / Extra Expense – See section 1. v. <br />e) Terrorism/TRIA: Required for all projects with a replacement cost equal to or greater than $20 <br />million, and/or if located in a high-risk area. For projects with a replacement cost under $20 million <br />and not in a high- risk location, terrorism coverage is not mandatory. <br />f) Perils: Perils insured against shall be at least as broad as those included in Insurance Services <br />Organization (“ISO”) Special Form (CP 10 30 10 00), or its equivalent. <br />g) 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’s All Risk limit must at all times be no less than the greater of <br />the largest Total Insured Value (“TIV”) for any individual property covered by the blanket <br />insurance policy limit or 10% of the aggregate TIV of the entire portfolio covered by the <br />blanket insurance policy limit. The blanket policy shall make available to the Project on a <br />“per–location” basis no less than the limit of protection, terms and conditions required <br />hereunder as though the insurance were provided on a standalone basis; and <br />(ii) Additional requirements may apply for Windstorm, Flood, Earthquake, Ordinance or Law, <br />Pollution and/or Boiler and Machinery coverages if also provided under a blanket <br />insurance policy.