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• , , <br /> �,�ar�, <br /> _ \��°` <br /> _� � t�'edei•�ll Emet•gency .tiianabement .lgency <br /> "'� �� �v;i,hin�;c��n. I).t'. ��u�l;�� <br /> �i�,� �t�. <br /> .1DDtTION�L IVFOR�tit�1TIOV REG�RDIYG <br /> LETTERS OF l�(�p .�1�(EYD��IE�1T <br /> '.�hrn makin� �eterminatiuns �m rec�uesb t�r L�tters ut 1�lap ;�menJment (LU:�I�►s1, che Drpartment uf <br /> f Iumrl�nJ S�cunty'; Fr�cral Emcrs�ency �lanaurmrnt ,\��ncy �FE�I�► bascs its �etcrminatiun un thC <br /> tI�N�J h�zard ii�turmatiun �vailabte at th� time uF the ��trrminatiun. RCyurstrn �huuW br �ware that <br /> i1����1 runJiuuns rnay �hange u� nrw �ntormatiun may br Srnerated that would �upersc�a FE�IA'3 <br /> .l�t�rminatwn. In �u�h casrs, the cummunity will be intormrd by lettrr. <br /> Rryursten �Iso ;hould be aware that removal of a property (parcel u�'I�nd o� structure) t'rom �he Special <br /> Flax1 Hazard Area �SEHA) means FEMA has Jetermined the property is nut �ubject to inundation by the <br /> tlo�xf hav�ng a 1 �percrnt chance uf being equaled ur rxceedrd in �ny �iven yrar �base Nood), fhis �ioes <br /> �iut mran the p�operry is not subject to uther tlood hazards. fhe properry could be inundated by a tlood <br /> •��ith a magnitude �reater than the base tlo� o� by Iuca�ized flooding not �hown on the etfiective �ational <br /> F1�x�d [nsurance Pro�ram(NF�) map. <br /> fhe et�fect uf a LU�tifa1 is it remove� the Federal requirement fo� the IenJer to require tlood insurance <br /> �uverage for the property Jescnbrd. Che LUMA is no� a waiver uf the cundition that the properry owner <br /> rnaintain tlood insurance cuverage tor the properry, (�n1y tha lender can waive the tlood insura�ca <br /> purchase requtrement because the len�ier imposed the requirement. 17rr pmprrry uwnrr m�si� reyurJl ufrd <br /> �-�ceil�e u tivrrttrn �vuivrr�rvm thr lrndrr brJore cuncrling the policy, i�te I��der may�etermine. un its own <br /> is a business Jecision, that it wishe� to continue the tlood insurance requirement to protect its tinaneial <br /> �uk un the luan. <br /> T'he LUMA provide� FE;�IA's comment on the mandatory tlood insurance requirementa of the NFIP as <br /> they �pply to a particular property. ;� LOMA is not a building permi� nor should it be construed a�such. <br /> ���y �ievelopment, new construct�on, ur substanhal improvement ot'a property impacted by a LUti1A must <br /> ���mply with �11 applicable State �nd local cntena and uther Federa! cntena. <br /> I F 1 Irnder release� a pruperty owner from the tlood insurance requirement, and the property uwner decide� <br /> co �ancel the policy and seek a refund. the VFIP will refund the premium pa�d for the current policy year. <br /> provided that no �laim is pending �r ha� been paid un the policy Juring the �u�rent lic ear, i'he f <br /> property owner must provide a �.vntten waiver uf the insurance requirement trom the lendee to the properry <br /> �nsurance �gent ur company �ervicing his ur her policy. fhe a�ent ur cumpany will then process the <br /> rCtund requrst. <br /> E ven thou�h structures �re not lu�:ated in sn SFF{A, ss menhoned �bove, they �ould be tl�wded by a <br /> tluuding rvent with a �reater ma�nitu�le than the base tlood. In fact, mure than '_5 prrcent uF �II �laims <br /> pai� by the NFIP �re fo� pulicies Fur structures IocateJ outsiJe the SFHA in Lunes B, C, ,�C (shaded), ur X <br /> (unsha�leJ). �Iure than une-tourth ut' all policirs purchased un�ler the IVFIP protect �tructures lo�ated in <br /> thctir zunes. fhe nsk to �tructures locatrd uutsicle .SFH,1s is just nut �s �,reat �s che n�k to ,tructurc� <br /> fu.;ated in �FH�1s. Einally, .,pprorimately �)Q percrnt uf �II teJerally Jeclared �isasters zre caused by <br /> r1�����ing, ,�nJ humeuwner� insurance Jues nut provi�e tinancial protection r'rom this tlouding, fherefore, <br /> F E:�+I�1 c;ncoura�;es the wi�est possible co�rra�e un�ler the tiF(P. <br /> Lc�hI,�ENC•1 <br />