**Exhibit 10.10**

 

**AGREEMENTTO PROVIDE INSURANCE**

 
| **Grantor:** | **Advanced  Life Sciences, Inc.  1440 Davey Drive  Woodridge, IL 60517** | **Lender:** | **THE  LEADERS BANK  2001 YORK ROAD, SUITE 150  OAK BROOK, IL 60523** |
|--------------|-------------------------------------------------------------------------------|-------------|-----------------------------------------------------------------------|

 

**INSURANCE REQUIREMENTS.**  Grantor, Advanced Life Sciences, Inc.(“Grantor”), understands that insurance coverage is required in connection withthe extending of a loan or the providing of other financial accommodations toGrantor by Lender.  These requirementsare set forth in the security documents for the loan.  The following minimum insurance coveragesmust be provided on the following described collateral (the “Collateral”):

 

**Collateral:****                                    ****All Inventory, equipment,accounts (including but not limited to all health-care-insurance receivables),chattel paper, instruments (including but not limited to all promissory notes),letter-of-credit rights, letters of credit, documents, deposit accounts,investment property, money, other rights to payment and performance, andgeneral intangibles (including but not limited to all software and all paymentintangibles); all attachments, accessions, accessories, fittings, increases,tools, parts, repairs, supplies, and commingled goods relating to the foregoingproperty, and all additions, replacements of and substitutions for all or anypart of the foregoing property; all insurance refunds relating to the foregoingproperty; all good will relating to the foregoing property; all records anddata and embedded software relating to the foregoing property, and allequipment, inventory and software to utilize, create, maintain and process anysuch records and data on electronic media; and all supporting obligationsrelating to the foregoing property; all whether now existing or hereafterarising, whether now owned or hereafter acquired or whether now or hereaftersubject to any rights in the foregoing property; and all products and proceeds(including but not limited to all insurance payments) of or relating to theforegoing property.**

 

**Type:** All risks, including fire, theft andliability.

**Amount:** Full Insurable Value.

**Basis:** Replacement Value.

**Endorsements:**The Leaders Bank, as loss payee; and further stipulating that coverage will notbe cancelled or diminished without a minimum of 30 days prior written notice toLender.

**Latest Delivery Date:** By the loan closing date.

 

**INSURANCE COMPANY.** Grantor may obtain insurance from any insurance company Grantor maychoose that is reasonably acceptable to Lender. Grantor understands that credit may not be denied solely becauseinsurance was not purchased through Lender.

 

**INSURANCE MAILING ADDRESS.**  All documents and othermaterials relating to insurance for this loan should be mailed, delivered ordirected to the following address:

 

**The Leaders Bank**

**Post Office Box 3516**

**Oak Brook, IL 60522-3516**

 

**FAILURE TO PROVIDE INSURANCE.**  Grantor agrees to deliver toLender, on the latest delivery date stated above, proof of the requiredinsurance as provided above, with an effective date of October 23, 2008,or earlier. **UNLESS GRANTOR PROVIDES LENDER WITH EVIDENCEOF THE INSURANCE COVERAGE REQUIRED BY GRANTOR’S AGREEMENT WITH LENDER, LENDER MAY PURCHASEINSURANCE AT GRANTOR’S EXPENSE TO PROTECT LENDER’S INTERESTS IN THECOLLATERAL.  THIS INSURANCE MAY, BUT NEEDNOT, PROTECT GRANTOR’S INTERESTS.  THECOVERAGE THAT LENDER PURCHASES MAY NOT PAY ANY CLAIM THAT GRANTOR MAKES,OR ANY CLAIM THAT IS MADE AGAINST GRANTOR IN CONNECTION WITH THE COLLATERAL.GRANTOR**

 

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**AGREEMENT TO PROVIDE INSURANCE**

**(Continued)**

 

**MAY LATER CANCEL ANY INSURANCE PURCHASED BY LENDER, BUT ONLY AFTERPROVIDING LENDER WITH EVIDENCE THAT GRANTOR HAS OBTAINED INSURANCE AS REQUIREDBY THEIR AGREEMENT.  IF LENDER PURCHASESINSURANCE FOR THE COLLATERAL, GRANTOR WILL BE RESPONSIBLE FOR THE COSTS OF THATINSURANCE, INCLUDING INTEREST AND ANY OTHER CHARGES LENDER MAY IMPOSE INCONNECTION WITH THE PLACEMENT OF THE INSURANCE, UNTIL THE EFFECTIVE DATE OF THECANCELLATION OR EXPIRATION OF THE INSURANCE. THE COSTS OF THE INSURANCE MAY BE ADDED TO GRANTOR’S TOTALOUTSTANDING BALANCE OR OBLIGATION.  THECOSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF INSURANCE GRANTOR MAY BEABLE TO OBTAIN ON GRANTOR’S OWN.**

 

INADDITION, THE INSURANCE MAY NOT PROVIDE ANY PUBLIC LIABILITY OR PROPERTYDAMAGE INDEMNIFICATION AND MAY NOT MEET THE REQUIREMENTS OF ANY FINANCIALRESPONSIBILITY LAWS.

** **

**AUTHORIZATION.**  For purposes of insurance coverage on theCollateral, Grantor authorizes Lender to provide to any person (including anyinsurance agent or company) all information Lender deems appropriate, whetherregarding the Collateral, the loan or other financial accommodations, or both.

 

**GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS AGREEMENTTO PROVIDE INSURANCE AND AGREES TO ITS TERMS. THIS AGREEMENT IS DATED OCTOBER 23, 2008.**

 

 
| **GRANTOR:**                     |
|----------------------------------|
|                             |
| **ADVANCED LIFE SCIENCES, INC.** |
|                             |
|                             |
| **By:**                          | **/s/ John L. Flavin** |   |
| ** **                       | **John L. Flavin, President of Advanced** |
| ** **                       | **Life Sciences, Inc.** |

 

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**AGREEMENT TO PROVIDE INSURANCE**

**(Continued)**

 

**FOR LENDER USE ONLY**

**INSURANCE VERIFICATION**

 
| DATE:                                  |   | PHONE  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|                                                                                                                                                                                                        |   |   |
| AGENT’S NAME:                                                                                                                                                                                          |   |
| AGENCY:                                                                                                                                                                                                     |   |   |
| ADDRESS:                                                                                                                                                                                                    |   |   |
| INSURANCE COMPANY:                                                                                                                                                                                          |   |   |
| POLICY NUMBER:                                                                                                                                                                                              |   |   |
| EFFECTIVE DATES:                                                                                                                                                                                            |   |   |
|                                                                                                                                                                                                        |   |   |
| COMMENTS:                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                        |   |   |

 

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