SECTION 10 - MINIMUM INSURANCE - COOPERATIVE LEASEHOLD INSURANCE

1. A policy insuring the interest of a Cooperative Leasehold Owner relating to an apartment/unit in a building owned by a Cooperative Corporation/Partnership shall not be issued for less than the amount paid for the purchase of the proprietary lease and the accompanying stock.
   
   
2. A policy insuring the security interest of a lender in the proprietary lease and the accompanying stock relating to an apartment/unit in a building owned by a Cooperative Corporation/Partnership, shall not be issued for less than the full unpaid principal amount of the loan.