|
DocuSign Envelope ID:F498671A-AA1C-4643-B26F-06CEFOBD8983
<br /> Agreement, you and we agree as follows: (a) Home Value. The System should not be included in the appraised
<br /> value of the Property. (b) Utility Power. You are required to maintain access and connection to the Utility at all
<br /> times throughout the Initial Term. (c) Damage to the Property. We will repair any damage to the Property or
<br /> your belongings that we cause, except as limited elsewhere in this Agreement. Upon removal of the System, we
<br /> will repair and restore all rooftop penetrations to be free from leaks. (d) Customer's Property Insurance. We
<br /> agree not to be named a loss payee or a named insured on your property insurance policy covering your Property.
<br /> (e)Foreclosure. If the Property is transferred to another person or entity by reason of foreclosure,trustee's sale,
<br /> deed in lieu of foreclosure, or other proceeding for the enforcement of a security instrument on the Property,
<br /> the transferee (including its successors and assigns, the "Foreclosure Transferee") may elect one of the following
<br /> options: (i) request that we remove the System within ninety (90) days, and, to the extent this Agreement runs
<br /> with the land,terminate this Agreement; (ii)assume the obligations in writing under this Agreement and become
<br /> the beneficiary hereunder, without payment of any transfer charge or similar fee; or (iii) enter into a new
<br /> agreement with us on terms no less favorable than this Agreement. In addition to electing one of the foregoing
<br /> options, the Foreclosure Transferee shall be required to provide written notice to us concerning the date of the
<br /> foreclosure and documentation reasonably satisfactory to us that evidences the Foreclosure Transferee's
<br /> ownership of the Property. (f) Notice of System Ownership. You consent to and agree that we will file a notice of
<br /> ownership in the real property records where the Property is located pursuant to the terms of this Agreement.
<br /> You and we agree that the notice is not nor should it be construed as a title impediment or an encumbrance on
<br /> the Property. Other than our ownership rights in the System and the System Interests, and our right to access
<br /> the Property to install and maintain the System during the Term, we have no property right, security interest, or
<br /> lien in or on the Property.
<br /> 24. Our Insurance:
<br /> (a) Commercial General Liability Insurance(CGL). As of the Transaction Date, Vivint Solar Developer,
<br /> LLC and our affiliates carry commercial general liability insurance written by Axis Specialty Europe
<br /> (Policy No. 3776500116EN) in the amount of$1,000,000 per occurrence. For more information,
<br /> visit www.vivintsolar.com/insurance.
<br /> (b) Workers' Compensation Insurance. As of the Transaction Date, Vivint Solar Developer, LLC and
<br /> our affiliates carry workers'compensation insurance for all employees written by Zurich American
<br /> Insurance Company (NAIC#: 16535) and American Zurich Insurance Company (NAIC No.: 40142)
<br /> in the amount of $1,000,000 per occurrence. For more information, visit
<br /> www.vivintsolar.com/insurance.
<br /> (c) Property Insurance. As of the Transaction Date, Vivint Solar Developer, LLC and their affiliates
<br /> carry property insurance for all Vivint Solar properties written by GCube and Travelers - Lloyds
<br /> Shared Program (Policy No. P16GR00830) in the amount of$1,000,000 for.occurrences during
<br /> installation. For more information,visit www.vivintsolar.com/insurance.
<br /> (d) Casualty Event. If the System is damaged or destroyed by fire,storm, flood, earthquake, or other
<br /> disaster or accident (each, a "Casualty Event") fully covered by our insurance, we will repair or
<br /> replace the damaged portions of the System as we deem necessary. If the System is damaged or
<br /> destroyed by a Casualty Event not fully covered by our insurance, we may, at our option: repair
<br /> or replace the damaged portions of the System as we deem necessary, or terminate this
<br /> Agreement and convey the System in its then-existing condition, "As Is, Where Is", to you for no
<br /> additional consideration.
<br /> Copyright XD 2,018 Vivint Solar Developer, LLC. All Rights Reserved. LEA;E(8/2018, v4.0.2FL) 1 Page 14 of 16
<br />
|