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HomeMy WebLinkAboutagenda item 2015 0318 rda 03dbank., Global Corporate Trust Services 60 Livingston Avenue, EP- MN -WS3C St. Paul, MN 55107 -2292 February 2, 2015 Mr. Brock Zeeb South Bend Redevelopment Authority 1200 County -City Building 227 W. Jefferson South Bend, IN 46601 Re: South Bend Redevelopment Authority Lease Rental Revenue Bond of 2008 (Eddy Street Commons Project) Dear Mr. Zeeb: U.S. Bank is responsible for tracking the receipt of the compliance item(s) for the above account. This letter is being sent in advance of the due date to assist you in providing us with the required documentation in a timely manner. Item Insurance Certificate /Policy Renewal Document Reference Trust Agreement 6.03 If the requested item(s) has been sent, you may disregard this letter. Due Date 03/01/2015 We appreciate your attention to this matter. Please contact me at the telephone number or email address below to discuss any questions or concerns you may have regarding the content of this letter. You may also contact your Account Manager, T. Scott Fesler, at 317 - 264 -2501. Sincerel , n Edwards Assistant Vice President Telephone: 651 - 466 -6291 Facsimile: 651 - 466 -7427 Email: jennifer.edwards2 @usbank.com usbank.com OFFICER'S CERTIFICATE Eddy Street Commons Project Reference is made to the Trust Agreement dated as of March 1, 2008, as amended (the "Governing Document "), between the South Bend Redevelopment Authority, a public body corporate and politic, organized and existing under Indiana Code 36 -7 -14.5, as amended (the "Company "), and U.S. Bank National Association, as trustee (the "Trustee "). The undersigned officer hereby certifies to the Trustee that: (i) I have read all relevant sections of the Governing Documents relating to Insurance and the definitions relating thereto; (ii) I have made such examination or investigation as is necessary or appropriate in order to make the statements contained herein: (iii) I have made such examination or investigation as is necessary to enable me to express an informed opinion as to whether or not the terms, conditions and covenants in the Governing Documents with respect to insurance matters have been complied with; and (iv) Based on examination and review of the Governing Documents, all of the terms, conditions and covenants set forth in the Governing documents as they relate to Insurance matters have been satisfied and are in full force and effect. IN WITNESS WHEREOF, the undersigned as executed this Officer's Certificate this day of , 20 SOUTH BEND REDEVELOPMENT AUTHORITY Un Name: Title: ACO RO® INSURANCE BINDER DA ) � 3/1/2015 THIS BINDER IS A TEMPORARY INSURANCE CONTRACT, SUBJECT TO THE CONDITIONS SHOWN ON THE REVERSE SIDE OF THIS FORM AGENCY COMPANY BINDER# Gibson Insurance Agency, Inc. Federal Ins Co B153152217 130 S Main St Ste 400 EFFECTIVE DATE TIME EXPIRATION DATE TIME RETRO DATE FOR CLAIMS MADE: EACH OCCURRENCE X AM DAMAGETO RENTED PREMISES X 12:01 AM PO Box 11177 $ South Bend IN 46601 -0177 3/2/2015 12:01 PM 6/1/2015 NOON PHONE /C No Ext : ( 800) 814 -2122 AAA No): (800) 836 -2122 THIS BINDER IS ISSUED TO EXTEND COVERAGE IN THE ABOVE NAMED COMPANY PER EXPIRING POLICY #: 35 903434 CODE: 7 -350 68 SUB CODE: AGENCY 00003140 CUSTOMER ID: DESCRIPTION OF OPERATIONS/VEHICLES /PROPERTY (Including Location) LOc# 00001 INSURED South Bend Redevelopment Authority Eddy Street Commons 1200 N County City Building Parking Garage Dept of Admin & Finance South Bend, IN South Beni IN 46601 $ COVERAGES LIMITS TYPE OF INSURANCE COVERAGE /FORMS DEDUCTIBLE COINS % AMOUNT PROPERTY CAUSES of LOSS BASIC FI BROAD F—] SPEC BI Deductible Flood & EQ, Flood / Earthquake Blanket limit of Insurance Building & Infrastructure, Special form Business Income & Rental Value, Special form 7 25,000 241 AUTHORIZED REPRESENTATIVE 500,000 36,000,000 15,000,000 G Ins Agency /DIANE GENERAL LIABILITY COMMERCIAL GENERAL LIABILITY CLAIMS MADE FI OCCUR RETRO DATE FOR CLAIMS MADE: EACH OCCURRENCE $ DAMAGETO RENTED PREMISES $ MED EXP (Any one person) $ PERSONAL & ADV INJURY $ GENERAL AGGREGATE $ PRODUCTS - COMP /OP AGG $ VEHICLE LIABILITY ANY AUTO ALL OWNED AUTOS SCHEDULED AUTOS HIRED AUTOS NON -OWNED AUTOS COMBINED SINGLE LIMIT $ BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE $ MEDICAL PAYMENTS $ PERSONAL INJURY PROT $ UNINSURED MOTORIST $ VEHICLE PHYSICAL DAMAGE DED COLLISION: OTHER THAN COL: ALL VEHICLES SCHEDULED VEHICLES ACTUAL CASH VALUE $ STATED AMOUNT GARAGE LIABILITY ANY AUTO AUTO ONLY - Fes, ACCIDENT $ OTHER THAN AUTO ONLY: EACH ACCIDENT $ AGGREGATE $ EXCESS LIABILITY UMBRELLA FORM OTHER THAN UMBRELLA FORM RETRO DATE FOR CLAIMS MADE: EACH OCCURRENCE $ AGGREGATE $ SELF - INSURED RETENTION $ WORKER'S COMPENSATION AND EMPLOYER'S LIABILITY WC STATUTORY LIMITS E.L. EACH ACCIDENT $ E.L. DISEASE - EA EMPLOYEE $ E.L. DISEASE - POLICY LIMIT $ SPECIAL CONDITIONS / OTHER COVERAGES FEES $ TAXES $ ESTIMATED TOTAL PREMIUM $ NAMF R AnnpFRS ACORD 75 (2010/04) INS075 (201004).02 Page 1 of 2 ©1993 -2010 ACORD CORPORATION. All rights reserved. The Arr)Rr1 nama and Innn arc ranictararl marlrc of Ar'.r)Rr) MORTGAGEE LOSS PAYEE ADDITIONAL INSURED LOAN # AUTHORIZED REPRESENTATIVE G Ins Agency /DIANE ACORD 75 (2010/04) INS075 (201004).02 Page 1 of 2 ©1993 -2010 ACORD CORPORATION. All rights reserved. The Arr)Rr1 nama and Innn arc ranictararl marlrc of Ar'.r)Rr) AGENCY CUSTOMER ID: 00003140 CONDITIONS This Company binds the kind(s) of insurance stipulated on the reverse side. The Insurance is subject to the terms, conditions and limitations of the policy(ies) in current use by the Company. This binder may be cancelled by the Insured by surrender of this binder or by written notice to the Company stating when cancellation will be effective. This binder may be cancelled by the Company by notice to the Insured in accordance with the policy conditions. This binder is cancelled when replaced by a policy. If this binder is not replaced by a policy, the Company is entitled to charge a premium for the binder according to the Rules and Rates in use by the Company. Applicable in California When this form is used to provide insurance in the amount of one million dollars ($1,000,000) or more, the title of the form is changed from 'Insurance Binder" to "Cover Note ". Applicable in Colorado With respect to binders issued to renters of residential premises, home owners, condo unit owners and mobile home owners, the insurer has thirty (30) business days, commencing from the effective date of coverage, to evaluate the issuance of the insurance policy. Applicable in Delaware The mortgagee or Obligee of any mortgage or other instrument given for the purpose of creating a lien on real property shall accept as evidence of insurance a written binder issued by an authorized insurer or its agent if the binder includes or is accompanied by: the name and address of the borrower; the name and address of the lender as loss payee; a description of the insured real property; a provision that the binder may not be canceled within the term of the binder unless the lender and the insured borrower receive written notice of the cancellation at least ten (10) days prior to the cancellation; except in the case of a renewal of a policy subsequent to the closing of the loan, a paid receipt of the full amount of the applicable premium, and the amount of insurance coverage. Chapter 21 Title 25 Paragraph 2119 Applicable in Florida Except for Auto Insurance coverage, no notice of cancellation or nonrenewal of a binder is required unless the duration of the binder exceeds 60 days. For auto insurance, the insurer must give 5 days prior notice, unless the binder is replaced by a policy or another binder in the same company. Applicable in Maryland The insurer has 45 business days, commencing from the effective date of coverage to confirm eligibility for coverage under the insurance policy. Applicable in Michigan The policy may be cancelled at any time at the request of the insured. Applicable in Nevada Any person who refuses to accept a binder which provides coverage of less than $1,000,000.00 when proof is required: (A) Shall be fined not more than $500.00, and (B) is liable to the party presenting the binder as proof of insurance for actual damages sustained therefrom. Applicable in the Virgin Islands This binder is effective for only ninety (90) days. Within thirty (30) days of receipt of this binder, you should request an insurance policy or certificate (if applicable) from your agent and /or insurance company. ACORD 75 (2010/04) Page 2 of 2 INS075 (201004).02 ADDITIONAL COVERAGES Ref # 1 Description Eddy Street Commons, Flood, 25,000,000 Coverage Code FL Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount 50,000 Deductible Type Premium Ref # 1 Description Eddy Street Commons, Earthquake, 25,000,000 Coverage Code EQ Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount 50,000 Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium Ref # Description Coverage Code Form No. Edition Date Limit 1 Limit 2 Limit 3 Deductible Amount Deductible Type Premium OFADTLCV Copyright 2001, AMS Services, Inc. ACOR" lam/ CERTIFICATE OF PROPERTY INSURANCE DATE (MMIDD /YYYY) 1 3/1/2015 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. If this certificate is being prepared for a party who has an insurable interest in the property, do not use this form. Use ACORD 27 or ACORD 28. PRODUCER Gibson Insurance Agency, Inc. 130 S Main St Ste 400 PO Box 11177 South Bend IN 46601 -0177 CONTACT Diane Davidson NAME: PHONE FAX A/C No Ext: (800) 814 -2122 AIC No: (800) 636 -2122 ADORE,. ddavidson@gibsonins.com PRODUCER 00003140 ID; INSURERS AFFORDING COVERAGE NAIC # 3/2/2015 INSURED INSURER A :Federal Ins Co 20281 City of South Bend 1200 N County City Building Dept of Admin & Finance INSURER B $ INSURER C BASIC BUILDING X South Bend IN 46601 INSURER D BROAD X X X X $ Include CONTENTS INSURER E: SPECIAL INSURER F: X EARTHQUAKE COVERAGES CERTIFICATE NUMBER:15 /16 Eddy Street Prop REVISION NUMBER: LOCATION OF PREMISES I DESCRIPTION OF PROPERTY (Attach ACORD 101, Additional Remarks Schedule, if more space is required) Loc# 00001: Eddy Street Commons Parking Garage South Bend IN THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE DATE (MMIDDIYYYY) POLICY EXPIRATION DATE (MMIDD /YYYY) COVERED PROPERTY LIMITS A X CAUSES PROPERTY OF LOSS DEDUCTIBLES 35903434 3/2/2015 3/2/2016 X BUILDING PERSONAL PROPERTY BUSINESS INCOME EXTRA EXPENSE RENTAL VALUE BLANKET BUILDING BLANKET PERS PROP BLANKET BLDG & PP Flood Earthquake $ 36,000,00 $ BASIC BUILDING X $ 15 000 00 BROAD X X X X $ Include CONTENTS X SPECIAL $ Include X EARTHQUAKE 50,OOC $ WIND $ X FLOOD 50,OOC $ X Special form 25,OOC $ 25 000 00 $ 2 INLAND MARINE OF LOSS NAMED PERILS TYPE OF POLICY $ CAUSES $ POLICY NUMBER $ CRIME TYPE OF POLICY $ BOILER & MACHINERY / EQUIPMENT BREAKDOWN $ Is SPECIAL CONDITIONS I OTHER COVERAGES (Attach ACORD 101, Additional Remarks Schedule, if more space is required) U.S. Bank National Association is named as Mortgagee. Coverage is written on Replacement Cost basis. CERTIFICATE HOLDER CANCELLATION U.S. Bank National Association 10 W Market Street, Suite 1150 Indianapolis, IN 46204 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE G Ins Agency /DIANE ACORD 24 (2009/09) ©1995 -2009 ACORD CORPORATION. All rights reserved. INS024 (2oosos) The ACORD name and logo are registered marks of ACORD