CERTIFICATE OF INSURANCE

This is to certify that insurance described below has been effected with the Insurer(s) shown, subject to the terms and conditions of the policy applicable.

NAMED INSURED: TORONTO STANDARD CONDOMINIUM CORPORATION NO. 1431

ADDITIONAL NAMED INSUREDS: ALL REGISTERED UNIT OWNERS FROM TIME TO TIME AND ALL REGISTERED MORTGAGEES FROM TIME TO TIME

PROPERTY INSURED: 11 Lee Centre Drive, Scarborough, Ontario

TERM: July 1, 201920 to July 1, 2021

COMMERCIAL PACKAGE POLICY NO. 38001806

PROPERTY:

Form: Comprehensive All Risk Policy

Amount of Insurance: $65,669,739

Deductibles:

$ 10,000 STANDARD
$ 25,000 SEWER BACKUP
$ 25,000 WATER
$ 25,000 FLOOD
$ 100,000 EARTHQUAKE

Company:

Novex Insurance Company 34%
Wawanesa Insurance Company 31%
RSA Insurance Company of Canada 25%
Aviva Insurance Company of Canada 10%

COMPREHENSIVE GENERAL LIABILITY:

NOVEX - Limit of Liability: $5,000,000
NOVEX - 2nd Excess Limit of Liability: $2,000,000

DIRECTORS AND OFFICERS LIABILITY:

NOVEX Limit of Liability: $5,000,000

EQUIPMENT BREAKDOWN INSURANCE:

Limit per Accident: $65,669,739
Company: Aviva Insurance Company of Canada
Policy Number: 81638409-1942

This document is furnished as a matter of courtesy and only as information of the fact that Policies have been concurrently prepared. It is not a contract, confers no right upon any person and imposes no liability on the Insuring Companies. A Photocopy of this executed Certificate may be relied upon to the same extent as if it were an original executed certificate.

Date July 6, 2020
ATRENS-COUNSEL INSURANCE BROKERS
Part of Arthur J. Gallagher Canada Limited

Dear Condominium Unit Owner:

As the Insurance advisor for your Condominium Corporation, we feel it is important to make you aware of your insurance responsibilities as well as the responsibilities you have to the Condominium Corporation. Failure to maintain adequate Condominium Unit Owners Insurance could result in severe financial hardship should a serious loss occur!

The Condominium Corporation is responsible for insuring the following:

The Building (s) excluding the units;
Personal Property of the Corporation, but excluding the Personal Property of the Unit Owners;
The units, as defined from an insurance stand point (refer to standard unit by-law if applicable), excluding any improvements made or acquired by the Unit Owners;
Liability against the Legal Liability imposed by law, as the result of Bodily Injury and Property Damage, arising out of the Corporation's activities as a Condominium. This coverage is extended to provide coverage on behalf of the Individual Unit Owners but only with respect to their interests in the common elements of the Condominium;
Boiler & Machinery coverage as required by the Condominium Corporation.

Your Insurance responsibilities as a Unit Owner are as follows:

Personal Property — i.e. Furniture, clothing, all personal effects stored in lockers, etc.;
Improvements or betterments made to the Unit, i.e. Wallpaper, paneling, light fixtures, upgraded flooring, upgraded kitchen cupboards, (Reference should be made to the Standard Unit By-Law if applicable — Floor coverings may be fully your responsibility);
Personal Liability — Your legal Liability for any bodily injury or property damage arising out of your personal activities as a Unit Owner, and from the ownership of your Individual Unit.

Unit Owners should be aware of the following!

You may be responsible for the deductible under the Corporations Insurance Policy if a loss occurs to any property the corporation is responsible for insuring. This charge back of the Corporation's deductible would apply if the damage was a result of an act or omission on the part of the unit owner;
If an insurable loss assessment is valid under the Condominium Corporation's governing rules, you could be responsible for your share of this special loss assessment. This could be quite substantial.

Unfortunately there are many unit owner policies in today's market place that do not provide the coverage or in many cases an adequate limit of Insurance to protect the Unit Owner against these major concerns.

Fortunately Atrens-Counsel Insurance Brokers Inc. has developed a Unit Owners Insurance Policy which is tailored around the insurance Policy of the Condominium Corporation. The result is a very competitively priced, comprehensive policy, which will respond to many of those claims not covered under some insurance policies available today.