WITH RESPECT TO THE IMPROVEMENTS, AND ONLY IF THE
INDIVIDUAL PROPERTY COVERAGE FORM DOES NOT OTHERWISE APPLY, (A) OWNER'S
CONTINGENT OR PROTECTIVE LIABILITY INSURANCE COVERING CLAIMS NOT COVERED BY OR
UNDER THE TERMS OR PROVISIONS OF THE ABOVE MENTIONED COMMERCIAL GENERAL
LIABILITY INSURANCE POLICY; AND (B) THE INSURANCE PROVIDED FOR IN SUBSECTION
(I) ABOVE WRITTEN IN A SO-CALLED BUILDER'S RISK COMPLETED VALUE FORM (1) ON A
NON-REPORTING BASIS, (2) AGAINST ALL RISKS INSURED AGAINST PURSUANT TO
SUBSECTION (I) ABOVE, (3) INCLUDING PERMISSION TO OCCUPY THE INDIVIDUAL
PROPERTY, AND (4) WITH AN AGREED AMOUNT ENDORSEMENT WAIVING CO-INSURANCE
PROVISIONS;
(V)
WORKERS' COMPENSATION, SUBJECT TO THE STATUTORY LIMITS OF THE
STATE;
80
(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 AN AMOUNT NOT LESS THAN FIFTY
MILLION AND NO/100 DOLLARS ($50,000,000.00) PER OCCURRENCE ON TERMS CONSISTENT
WITH THE COMMERCIAL GENERAL LIABILITY INSURANCE POLICY REQUIRED UNDER SUBSECTION
(II) ABOVE;
(VIII)
IF ANY OF THE POLICIES OF INSURANCE COVERING THE RISKS REQUIRED TO
BE COVERED UNDER SUBSECTIONS (I) THROUGH (VII) ABOVE CONTAINS AN EXCLUSION FROM
COVERAGE FOR ACTS OF TERRORISM, BORROWER SHALL OBTAIN AND MAINTAIN A SEPARATE
POLICY PROVIDING SUCH COVERAGES IN THE EVENT OF ANY ACT OF TERRORISM, PROVIDED
SUCH COVERAGE IS COMMERCIALLY AVAILABLE FOR PROPERTIES SIMILAR TO THE APPLICABLE
INDIVIDUAL PROPERTY AND LOCATED IN OR AROUND THE REGION IN WHICH THE APPLICABLE
INDIVIDUAL PROPERTY IS LOCATED. NOTWITHSTANDING THE FOREGOING, BORROWER SHALL
NOT BE REQUIRED TO OBTAIN SUCH A POLICY, PROVIDED (I) BORROWER CONFIRMS TO
LENDER, IN WRITING, THAT IT SHALL PROTECT AND HOLD LENDER HARMLESS FROM ANY
LOSSES ASSOCIATED WITH SUCH RISKS BY, AMONG OTHER THINGS, EITHER (A) DEPOSITING
WITH LENDER SUMS SUFFICIENT TO PAY FOR ALL UNINSURED COSTS RELATED TO A
RESTORATION OF THE APPLICABLE INDIVIDUAL PROPERTY FOLLOWING ANY ACT OF TERRORISM
(WHICH SUM SHALL BE TREATED AS A NET PROCEEDS DEFICIENCY), OR (B) PROVIDED SUCH
ACT OF TERRORISM OCCURS AFTER THE PERMITTED PREPAYMENT DATE, PREPAYING THE LOAN
IN ACCORDANCE WITH THE TERMS HEREOF; (II) INLAND AMERICAN REAL ESTATE
TRUST, INC. ("TERRORISM INSURANCE GUARANTOR") EXECUTES A GUARANTY, IN FORM AND
SUBSTANCE SATISFACTORY TO LENDER, GUARANTEEING IN THE EVENT OF ANY ACT OF
TERRORISM, PAYMENT TO LENDER OF ANY SUMS THAT BORROWER IS OBLIGATED TO PAY TO
LENDER UNDER CLAUSE (I) ABOVE (WHICH SHALL BE APPLIED IN ACCORDANCE WITH
SECTION 6.4 HEREOF) AND (III) TERRORISM INSURANCE GUARANTOR MAINTAINS A NET
WORTH OF AT LEAST $500,000,000 (AS DETERMINED BY SUCH ENTITY'S MOST RECENT
AUDITED FINANCIAL STATEMENTS), SUCH ENTITY MAINTAINS A DIRECT OR INDIRECT
OWNERSHIP INTEREST IN BORROWER, AND THE AGGREGATE LOAN TO VALUE RATIO (AS
DETERMINED BY LENDER) FOR ALL PROPERTIES ON WHICH SUCH ENTITY HAS A DIRECT OR
INDIRECT OWNERSHIP INTEREST SHALL NOT EXCEED 55%, HOWEVER, TERRORISM INSURANCE
GUARANTOR MAY EXCEED THE 55% LOAN TO VALUE RATIO FOR A PERIOD NOT TO EXCEED SIX
(6) MONTHS OUT OF ANY TWELVE (12) MONTH PERIOD EITHER