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...oan instrument. Undoubtedly, some lenders who felt before the earthquake that ...wners need to understand all of the insurance policies available, the physical...

... factual basis for knowing if a claim exists and how that claim can best be proven. The Mortgage Factor Because the mortgage holder is named as an additional insured, any checks from the insurance company require the lender's endorsement. As a condition of the endorsement, a lender may require that a construction disbursement account be established and that all of the necessary funding (including the deductible) be deposited in the construction disbursement account to assure the lender that all of the necessary repairs will be made. The requirements imposed on a borrower to ... . Thorough and meticulous planning and investigation can enable the owner to realize value from an investment that seemed hopelessly lost after the January quake. John Barclay, principal of Barclay Law Corporation, lectures frequently to professional organizations. Barclay Law Corp. specializes in real estate, environmental insurance, and business law, among other areas. For more information, call (800) 847-5432 or (714) 476-2672. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need ... loss of rent, even when the renters' damage is clearly caused by the earthquake. Even if the policy does not reimburse for lost rent, the loss of rents may affect the amount of money available for repairs. For example, a devastated building that would cost $1 million to repair is subject to a $100,000 deductible. The lost rents may be included in the money used to make up the deductible. If the insurance policy is All-Risk and covers loss caused by earthquakes, the lost rents are included ...