SECTION 3.06. Further Documentation. 3.06. Further Documentation. The Mortgagor shall promptly, at any time and from time to time, upon the Request of the Mortgagee, and at the sole expense of the Mortgagor, duly execute and deliver, and have recorded, such further instruments and documents and take such further actions as the Mortgagee may reasonably deem necessary for the purpose of obtaining or preserving the full benefits of this Mortgage and of the rights and powers herein granted.

SECTION 3.07. Compliance with 46 U.S.C. Chapter 313. The Mortgagor will comply with and satisfy all the provisions of Chapter 313 to establish and maintain this Mortgage as a First Preferred [Ship/Fleet] Mortgage upon the Vessels.

SECTION 3.08. 3.08. United States Documentation of Vessels. of Vessels. At the Delivery Date and thereafter, each of the Vessels is and shall remain documented under the laws of the United States. SECTION 3.09. Surveys and Inspection of the Vessels; Examination of Mortgagor's Records. The Mortgagor shall: (a) afford the Mortgagee, upon reasonable notice, access to the 3.09. Surveys and Inspection of the Vessels; Examination of Mortgagor's Records. The Mortgagor shall: (a) afford the Mortgagee, upon reasonable notice, access to the Vessels, their cargoes, logs and papers for the purpose of inspecting the same; (b) maintain all business and financial records for a period of at least six years following the termination of the Guarantee, including, without limitation, records of all amounts paid or obligated to be paid by or for the account of the Mortgagor for each Vessel’s Construction; and (c) at reasonable times permit the Mortgagee, upon request, to (1) make reasonable, material and pertinent inspection, examination and audit of any books, records, and papers in the custody and control of the Mortgagor or others relating to the Mortgagor’s financial or business conditions, including taking information therefrom and making of copies thereof and transcripts or extracts therefrom and (2) make inspections and appraisals of any of the Mortgagor’s Vessels. SECTION 3.10. 3.10. Insurance. (a) Insurance Amounts. Upon the Delivery Date of each Vessel and at all times thereafter, the Mortgagor shall, without cost to the Mortgagee, keep such Vessel insured as indicated below and with such additional insurance as may be specified by the Mortgagee in an amount in U.S. dollars equal to one hundred ten percent (110%) of the unpaid principal amount of the Proportionate Part of the Administrator’s Note, or such greater sum, up to and including the full commercial value of such Vessel as may be required by the Mortgagee. The Mortgagor shall provide to the Mortgagee: (1) at least sixty (60) days prior notice of all insurance renewals; and (2) premium payment confirmation shall be sent in writing to the Mortgagee by the Mortgagor’s marine insurance broker or the head underwriter within five (5) Business Days.

(1) Hull & Machinery and War Risk Insurance. Marine and war risk hull insurance under the latest (at the time of issue of the policies in question) forms of American Institute of Marine Underwriters' policies approved by the Mortgagee and/or policies issued by or for the Maritime Administration (or under such other forms of policies as the Mortgagee may approve in writing) insuring such Vessel against the usual risks covered by such forms (including, at the Mortgagor’s option, such amounts of increased value and other forms of "total loss only" insurance as are permitted by said hull insurance policies); and (2) Port Risk Insurance. While any Vessel is laid up, at the Mortgagor’s option and in lieu of the above-mentioned marine and war risk hull insurance or marine and war risk hull and increased value insurance, port risk insurance with war risk

First Preferred [Fleet/Ship] Mortgage, Contract No. MA-\_\_\_\_\_\_ Page 9