> ## Documentation Index
> Fetch the complete documentation index at: https://docs.pylon.mortgage/llms.txt
> Use this file to discover all available pages before exploring further.

# Condo Master Insurance and CC&Rs

> Provide evidence of the condominium project’s master insurance coverage and governing documents to confirm project eligibility and adequate hazard coverage.

## What this task is

This task collects documentation for **condominium projects** related to:

* The project’s **master hazard insurance policy**, and
* The **Covenants, Conditions, and Restrictions (CC\&Rs)** or equivalent governing documents.

The goal is to confirm that the project carries **appropriate insurance coverage** at the association level and that the governing documents do not create **unacceptable legal or financial risks**.

## When this task is required

This task is required when:

* The **subject property is a condominium unit**, and
* The borrower has **identified a specific subject property** (i.e., this is not just a pre-qualification without a property).

In these scenarios, the lender must evaluate the **condominium project as a whole**, not just the individual unit.

## Why this task is required

For condominium loans, lenders are underwriting **both the borrower and the project**.
Project-level issues can materially affect:

* The **marketability** of the collateral.
* The lender’s **ability to recover value** in the event of default.
* The borrower’s **ongoing risk exposure** (for example, inadequate master coverage or unusual legal restrictions).

The master insurance policy helps the underwriter confirm:

* Adequate **hazard coverage** for the building structure and common areas.
* That required coverage types (such as **property, liability, and, when applicable, flood**) are in place.

The CC\&Rs or equivalent documents help the underwriter evaluate:

* **Use restrictions**, leasing limitations, and investor concentration concerns.
* **Assessment rights** and potential for large or unlimited special assessments.
* Other provisions that may conflict with **agency or investor eligibility rules**.

Without these documents, the lender cannot fully determine whether the **condominium project meets the applicable guidelines**, even if the borrower is otherwise strong.

## Documents needed to resolve this task

To satisfy this task, provide:

* **Evidence of the condo master insurance policy**, such as:
  * The **insurance certificate** or declarations page for the association’s master policy.
  * Documentation showing **coverage types, limits, deductibles, and effective dates**.
* **Current CC\&Rs or equivalent governing documents** for the condominium project:
  * All relevant sections that outline **rights and obligations of unit owners**, **common area maintenance**, and **assessment authority**.
  * Any **amendments or supplements** that modify key terms.

These materials allow the underwriter and any project review team to confirm that the condo project complies with **investor, agency, and internal risk standards** for condominium lending.