Lexington - Second Insurance Layer

The insurance adjuster on the first layer has been retained by Lexington to represent their interest on the remaining insurance coverage. The benefit to the Associations is the established relationship that has been vital in obtaining full payment from the first insurance layer. Having the same adjuster keeps the case moving forward without revisiting previous insurance coverage decisions. A meeting has been scheduled for late next week to review the proposed scope of reconstruction for exterior and interior of the buildings. The Associations anticipate initial insurance funding from discussion resulting from the meeting and then periodic insurance fund releases based on costs to date.