3.9.2.2 Vehicle Liability Insurance

A. If the mortgagor owns a vehicle in the operation of the project, including non-owned and/or hired vehicles operated for the benefit of the mortgagor, the mortgagor must maintain Vehicle Liability Insurance. Such insurance must provide for limits of liability based on the State or the District of Columbia’s minimum required liability coverage amounts or not less than $300,000 for one person and $500,000 for more than one person, whichever is greater, to protect the mortgagor from claims for bodily injury and/or death, and not less than $100,000 against claims for damage to property of others.