loss or damage covered by the insurance required hereunder or resulting from the risks under Subsections (a) and (d) of this Section or if the Mortgagor shall be entitled to just compensation therefor. In addition, the provisions of this Section shall be deemed to have been complied with in all respects during any period after (A) title to any Vessel shall have been taken or requisitioned by any government or governmental body or (B) there shall have been an actual or constructive total loss or an agreed or compromised total loss of any Vessel. In the event of any taking, requisition, charter or loss contemplated by this Subsection, the Mortgagor shall promptly furnish to the Mortgagee an Officer's Certificate stating that such taking, requisition, charter or loss has occurred and, if there shall have been a taking, requisition or charter of the use of any Vessel, that the government or governmental body in question has agreed to reimburse the Mortgagor, in a manner approved by the Mortgagee, for loss or damage resulting from the risks under Subsections (a) and (d) of this Section or that the Mortgagor is entitled to just compensation therefor. (h) Required Assured and No Recourse. All insurance required under Subsections (a) and (b) of this Section shall be taken out in the names of the Mortgagor and the Mortgagee as co-assureds. All policies for such insurance so taken out shall, unless otherwise consented to by the Mortgagee, provided that (1) there shall be no recourse against the Mortgagee for the payment of premiums or commissions, (2) if such policies provide for the payment of club calls, assessments or advances, there shall be no recourse against the Mortgagee for the payment thereof, and (3) at least thirty (30) days' prior written notice of any cancellation for the nonpayment of premiums, commissions, club calls, assessments or advances shall be given to the Mortgagee by the lead insurance underwriters. (i) Surety Agreement. In the event that any claim or Lien is asserted against any Vessel for loss, damage or expense which is covered by insurance hereunder and it is necessary for the Mortgagor to obtain a bond or supply other security to prevent arrest of such Vessel or to release such Vessel from arrest on account of said claim or Lien, the Mortgagee, on the Mortgagor’s Request, may, at the Mortgagee’s sole option, assign to any Person executing a surety or guaranty bond or other agreement to save or release such Vessel from such arrest, all right, title and interest of the Mortgagee in and to said insurance covering such loss, damage or expense as collateral security to indemnify against liability under said bond or other agreement. (j) Original Insurance Policy. Except as the Mortgagee shall otherwise direct by notice in writing to the Mortgagor, the Mortgagor shall deliver to the Mortgagee the original policies evidencing insurance maintained under this Section; provided that, if any such original policy shall have been delivered previously to the Mortgagee or to a mortgagee by the Mortgagor under another ship mortgage of the Mortgagor, the Mortgagor shall deliver a duplicate or pro forma copy of such policy to the Mortgagee. The Mortgagee or any agent thereof (who may also be an agent of the issuer) shall at all times hold the policies delivered as aforesaid; provided that, if one or more of said policies are held by an agent of the Mortgagee, the Mortgagor shall, upon the Mortgagee’s Request, deliver a duplicate or pro forma copy thereof to the Mortgagee, and provided further, that if the Mortgagor shall deliver to the Mortgagee a Request (1) stating that delivery of such policy to the insurer is necessary in connection with the collection, enforcement or settlement of any claim thereunder (including claims for return premiums and any other amounts payable by the insurer) and (2) setting forth the name and address of the Person to whom such policy is to be delivered or mailed for such purpose, and if the Mortgagee approves such Request, the Mortgagee shall, at the Mortgagor’s expense, deliver or mail (by registered or certified mail, postage prepaid) such policy in accordance with such Request, accompanied by a written direction to the recipient

First Preferred [Fleet/Ship] Mortgage, Contract No. MA-\_\_\_\_\_\_ Page 13