PROVISIONS;
(V)
WORKERS' COMPENSATION, SUBJECT TO THE STATUTORY LIMITS OF THE
STATE IN WHICH THE PROPERTY IS LOCATED, AND EMPLOYER'S LIABILITY INSURANCE WITH
A LIMIT OF AT LEAST FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00) PER
ACCIDENT AND PER DISEASE PER EMPLOYEE, AND FIVE HUNDRED THOUSAND AND NO/100
DOLLARS ($500,000.00) FOR DISEASE AGGREGATE IN RESPECT OF ANY WORK OR OPERATIONS
ON OR ABOUT THE PROPERTY, OR IN CONNECTION WITH THE PROPERTY OR ITS OPERATION
(IF APPLICABLE);
(VI)
COMPREHENSIVE BOILER AND MACHINERY INSURANCE, IF APPLICABLE, IN
AMOUNTS AS SHALL BE REASONABLY REQUIRED BY LENDER ON TERMS CONSISTENT WITH THE
COMMERCIAL PROPERTY INSURANCE POLICY REQUIRED UNDER SUBSECTION (I) ABOVE;
(VII)
UMBRELLA LIABILITY INSURANCE IN ADDITION TO PRIMARY COVERAGE IN AN
AMOUNT NOT LESS THAN ONE HUNDRED MILLION AND NO/100 DOLLARS ($100,000,000.00)
PER OCCURRENCE ON TERMS CONSISTENT WITH THE COMMERCIAL GENERAL LIABILITY
INSURANCE POLICY REQUIRED UNDER SUBSECTION (II) ABOVE AND (VIII) BELOW (SUCH
LIMIT MAY BE ACHIEVED BY ANY COMBINATION OF PRIMARY AND EXCESS LIMITS);
46
(VIII)
MOTOR VEHICLE LIABILITY COVERAGE FOR ALL OWNED AND NON-OWNED
VEHICLES, INCLUDING RENTED AND LEASED VEHICLES CONTAINING MINIMUM LIMITS PER
OCCURRENCE, INCLUDING UMBRELLA COVERAGE, OF ONE MILLION AND NO/100 DOLLARS
($1,000,000.00);
(IX)
SO-CALLED "DRAMSHOP" INSURANCE OR OTHER LIABILITY INSURANCE
REQUIRED IN CONNECTION WITH THE SALE OF ALCOHOLIC BEVERAGES, IF ANY;
(X)
INSURANCE AGAINST EMPLOYEE DISHONESTY IN AN AMOUNT NOT LESS THAN
ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) AND WITH A DEDUCTIBLE NOT GREATER
THAN TWENTY FIVE THOUSAND AND NO/100 DOLLARS ($25,000.00);
(XI)
IF AT ANY TIME DURING THE TERM OF THE LOAN THE COMMERCIAL
PROPERTY AND BUSINESS INCOME INSURANCE POLICIES REQUIRED UNDER SUBSECTIONS (I)
AND (III) ABOVE DO NOT COVER PERILS OF TERRORISM OR ACTS OF TERRORISM, OR OTHER
SIMILAR ACTS OR EVENTS, BORROWER SHALL OBTAIN AN ENDORSEMENT TO SUCH POLICY, OR
A SEPARATE POLICY FROM AN INSURANCE PROVIDER WHICH MAINTAINS AT LEAST AN
INVESTMENT GRADE RATING, INSURING AGAINST ALL LOSS RESULTING FROM PERILS AND
ACTS OF TERRORISM AND "FIRE FOLLOWING", TO THE EXTENT SUCH POLICY OR ENDORSEMENT
IS AVAILABLE, IN AN AMOUNT DETERMINED BY LENDER IN ITS SOLE DISCRETION (BUT IN
NO EVENT MORE THAN AN AMOUNT EQUAL TO THE SUM OF ONE HUNDRED PERCENT (100%) OF
THE CONSTRUCTION COSTS ASSOCIATED WITH THE RECONSTRUCTION OF THE IMPROVEMENTS
AND A MINIMUM OF EIGHTEEN (18) MONTHS OF BUSINESS OR RENTAL INTERRUPTION
INSURANCE (INCLUSIVE OF SIX (6) MONTHS EXTENDED PERIOD OF INDEMNITY) (THE
"TERRORISM COVERAGE AMOUNT")); PROVIDED, HOWEVER, THE TOTAL ANNUAL PREMIUM
PAYABLE BY BORROWER FOR SUCH TERRORISM COVERAGE SHALL NOT EXCEED TWO HUNDRED
FIFTY THOUSAND AND NO/100 DOLLARS ($250,000.00) FOR SUCH COVERAGE. THE
ENDORSEMENT OR POLICY SHALL BE IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO
LENDER AND SHALL MEET RATING AGENCY CRITERIA FOR SECURITIZED LOANS; AND
(XII)
UPON SIXTY (60) DAYS' NOTICE, SUCH OTHER REASONABLE INSURANCE AND
IN SUCH REASONABLE AMOUNTS AS LENDER FROM TIME TO TIME MAY REASONABLY REQUEST
AGAINST SUCH OTHER INSURABLE HAZARDS WHICH AT THE TIME ARE COMMONLY INSURED
AGAINST FOR PROPERTY SIMILAR TO THE PROPERTY LOCATED IN OR AROUND THE REGION IN
WHICH