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96 Willis Avenue * Mineola, NY 11501 |
Email: jamodeo@namspec.com
Web: www.namspec.com |
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PROPRIETARY INSURANCE PROGRAMS FOR ATTORNEYS
AND THEIR CLIENTS |
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- Hazard and Liability Insurance for Receivers of Real Estate
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- Consumer Price Increase Guarantees: Provides a guarantee of a
specified percentage of increase, which makes future rent
increases quantifiable at the inception of the project.
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- Lease Enhancement & Condemnation Insurance: The tenant's right
to terminate the lease or abate rent due to a total or partial taking of the
improvements, parking and/or lack of access to the property, through
eminent domain.
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- Lease Enhancement Casualty & Condemnation Short Fall Insurance:
The short fall policy insures the potential insufficiency of funds to satisfy
the mortgage or interests of one party.
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- Governmental Non-Appropriation Lease Payment Guarantees:
Non-appropriation coverage guarantees the timely payment of rent/lease
payments for the term of the lease or loan in the event of budget
Non-appropriation.
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- Recapture of Historic Rehabilitation Investment Tax Credits from
a Casualty: The recaptured portion of the ITC due to a casualty may be able
to be insured under an amended Lease Enhancement Policy.
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- TIF Bonds: A Tax Increment Financing ("TIF") functions by pledging
real property tax increments, gained over the pre-development year
(the "baseline") as a result of the new development.
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- Asset Based Guarantees for Real Estate: A residual value guarantee
wherein an asset-based guarantee could be used to bring efficiency to
the transaction.
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- Zoning Protector: Ordinance Enhancement Coverage (lender's form)
insures lenders against a loss of the difference between the loan balance at
the time loss and the total insurance proceeds and the underlying land value.
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