This is applicable to a residential condominium building that is:
- A manufactured or mobile home or travel trailer, as specified in the policy
- At least 16 feet wide when fully assembled and at least 600 square feet within perimeter walls
If the building is totally destroyed or damaged to such an extent that, in the NFIP’s judgment, it is not economically feasible to repair to at least pre-damage condition, the policy pays the least one of the following:
- The lesser of the replacement cost of the dwelling or 1.5 times the Actual Cash Value
- The building limit of liability shown on the Declarations Page
If such building is partially damaged, and it is economically feasible to repair it to its pre-damage condition, the policy settles according to the Replacement Cost loss settlement conditions.