THE VALUES AT THE LARGEST LOCATION.
BORROWERS SHALL MAINTAIN A MINIMUM TEN
MILLION DOLLAR ($10,000,000.00) LIMIT OF COVERAGE FOR THE PERILS OF FLOOD
(OUTSIDE OF PROPERTIES LOCATED IN A FEDERAL FLOOD ZONE "A") AND EARTHQUAKE
COVERING THE COLLATERAL AND A MINIMUM OF TWO MILLION FIVE HUNDRED THOUSAND
DOLLARS ($2,500,000.00) LIMIT OF COVERAGE FOR THE PERILS OF FLOOD FOR PROPERTIES
WITHIN FEDERAL FLOOD ZONE "A".
UPON THE REQUEST OF AGENT BANK, REPLACEMENT COST
FOR INSURANCE PURPOSES WILL BE ESTABLISHED BY AN INDEPENDENT APPRAISER MUTUALLY
SELECTED BY BORROWERS AND AGENT BANK.
THE POLICY WILL INCLUDE AGREED AMOUNT
(WAIVING CO-INSURANCE), REPLACEMENT COST VALUATION AND BUILDING ORDINANCE
ENDORSEMENTS.
THE POLICY WILL INCLUDE A STANDARD MORTGAGEE CLAUSE (ISO FORM OR
EQUIVALENT, I.E. BORROWER'S ACTS WILL NOT IMPAIR MORTGAGEE'S RIGHT TO RECOVER,
EXCLUSIVE PAYMENT OF LOSS TO MORTGAGEE AND AUTOMATIC NOTICE OF CANCELLATION OR
NON-RENEWAL TO MORTGAGEE) AND PROVIDE THAT ALL LOSSES IN EXCESS OF TWO HUNDRED
THOUSAND DOLLARS ($200,000.00) BE ADJUSTED WITH THE AGENT BANK.
THE BORROWERS
WAIVE ANY AND ALL RIGHTS OF SUBROGATION AGAINST BANKS RESULTING FROM LOSSES TO
PROPERTY.
B.
PERSONAL PROPERTY (INCLUDING MACHINERY,
EQUIPMENT, FURNITURE, FIXTURES, STOCK).
BORROWERS SHALL MAINTAIN A SPECIAL
CAUSES OF LOSS ("ALL RISK") PERILS PROPERTY COVERAGE FOR ALL PERSONAL PROPERTY
OWNED, LEASED OR FOR WHICH BORROWERS ARE LEGALLY LIABLE.
THE COVERAGE WILL
INCLUDE A LENDERS' LOSS PAYABLE ENDORSEMENT IN FAVOR OF AGENT BANK.
THE POLICY PROVIDING REAL PROPERTY AND PERSONAL PROPERTY COVERAGES, AS SPECIFIED
IN 5.09(A) AND (B) HEREINABOVE, MAY INCLUDE A DEDUCTIBLE OF NO MORE THAN ONE
HUNDRED THOUSAND DOLLARS ($100,000.00) FOR ANY SINGLE OCCURRENCE.
NOTWITHSTANDING THE FOREGOING, IN LIEU OF A SEPARATE DEDUCTION IN THE AMOUNT OF
ONE HUNDRED THOUSAND DOLLARS ($100,000.0) FOR EACH OF REAL PROPERTY, PERSONAL
PROPERTY AND BUSINESS INTERRUPTION INSURANCE PURSUANT TO SECTIONS 5.09(A), (B)
AND (C), BORROWERS MAY OBTAIN A POLICY PROVIDING REAL PROPERTY, PERSONAL
PROPERTY, AND BUSINESS INTERRUPTION INSURANCE COVERAGE WITH A COMBINED
DEDUCTIBLE OF NOT MORE THAN TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00) FOR
ANY SINGLE OCCURRENCE.
FLOOD AND EARTHQUAKE
112
DEDUCTIBLES CAN BE NO MORE THAN TWO HUNDRED FIFTY THOUSAND DOLLARS
($250,000.00), IF A SEPARATE DEDUCTIBLE APPLIES.
C.
BUSINESS INTERRUPTION/EXTRA EXPENSE.
BORROWERS SHALL MAINTAIN COMBINED BUSINESS INTERRUPTION/EXTRA EXPENSE COVERAGE
FOR THE HOTEL/CASINO FACILITIES WITH A LIMIT REPRESENTING NO LESS THAN ONE
HUNDRED PERCENT (100%) OF THE NET PROFIT PLUS CONTINUING EXPENSES (INCLUDING
DEBT SERVICE) FOR THE RACE TRACK, HOTEL AND CASINO FACILITIES (INCLUDING ALL
VIDEO LOTTERY/SLOT OPERATIONS).
SUCH COVERAGE SHALL INCLUDE AN EXTENSIONS FOR
OFF PREMISES POWER LOSSES AT ONE MILLION DOLLARS ($1,000,000.00) AND EXTENDED
PERIOD OF INDEMNITY OF ONE HUNDRED EIGHTY (180) DAYS ENDORSEMENT.
SUBJECT TO
THE ALLOWANCE OF A TWO HUNDRED FIFTY THOUSAND DOLLAR ($250,000.00) COMBINED
DEDUCTIBLE PURSUANT TO SECTION 5.09(B), THESE COVERAGES MAY HAVE DEDUCTIBLE OF
NO GREATER THAN FORTY-EIGHT (48) HOURS, OR ONE HUNDRED THOUSAND ($100,000.00),
IF A SEPARATE DEDUCTIBLE APPLIES.
THIS COVERAGE WILL BE SPECIFICALLY ENDORSED
TO INCLUDE AGENT BANK AS LOSS PAYEE.
D.
BOILER AND MACHINERY.
BORROWERS SHALL
MAINTAIN A BOILER AND MACHINERY POLICY FOR THE CASINO FACILITIES WRITTEN ON A
COMPREHENSIVE