Affiliated Business Arrangement
Disclosure Statement

This is to give you notice that Seller has a business relationship with Hovnanian Insurance Agency, LLC (“Insurance Agency”). The nature of the business relationship is that Insurance Agency, the 80% member of Insurance Agency and the Seller are affiliated businesses. Because of this relationship, this referral may provide the Seller a financial or other benefit.

Set forth below is the estimated charge or range of charges for the settlement services listed. You are NOT required to use the listed provider(s) as a condition for purchase of the subject property. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.

Insurance Agency
Settlement Services Range of Charges (Annual Premium)
Homeowner's/Hazard Insurance 0.2% - 2.5% of purchase price amount
Flood Insurance 0.1% - 0.5% of purchase price amount

NOTE: If enhancements to the standard policy such as increased limits, scheduled articles, and/or earthquake coverage are required, the premium may increase the percentages listed above. Actual quote and acceptance by the Insurance Agency is subject to the Insurance Agency's underwriting guidelines, including but not limited to verification of your credit score and previous loss history. The cost of your insurance may vary due to many factors including, without limitation, the size, location and cost of your home.


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