OR IN CONNECTION WITH ANY OF THE LEASED PREMISES AS LANDLORD OR
LENDER MAY REASONABLY REQUIRE (INCLUDING,
29
WITHOUT LIMITATION MOLD INSURANCE); PROVIDED THAT, SUCH INSURANCE IS CONSISTENT,
AS TO TYPES OF COVERAGE AND AMOUNTS, WITH THE REQUIREMENTS GENERALLY OF
INSTITUTIONAL LENDERS OR PRUDENT OWNERS OR OPERATORS OF SIMILAR PROPERTIES
SIMILARLY SITUATED AND, PROVIDED FURTHER, AT SUCH TIME AS LANDLORD AND/OR LENDER
REQUIRES COVERAGE FOR MOLD OR MICROBIAL MATTER, TENANT AGREES TO PROCURE AND
MAINTAIN SUCH COVERAGE, AT ITS OWN COST AND EXPENSE, IN AN AMOUNT NO LESS THAN
$5,000,000 PER OCCURRENCE AND $5,000,000 GENERAL AGGREGATE, WITH A DEDUCTIBLE OF
NOT MORE THAN $1,000,000.00; AND SUCH MOLD COVERAGE MAY BE OBTAINED AND
MAINTAINED UNDER THE POLLUTION LIABILITY INSURANCE POLICY UNDER CLAUSE (VII) OF
THIS PARAGRAPH 16(A) ABOVE.
(B)
THE INSURANCE REQUIRED BY PARAGRAPH 16(A) SHALL BE WRITTEN BY
COMPANIES HAVING A BEST'S RATING OF A-:X OR ABOVE OR A CLAIMS PAYING ABILITY
RATING OF A OR BETTER BY STANDARD & POOR'S RATING SERVICES, A DIVISION OF THE
MCGRAW HILL COMPANIES, INC. ("S&P") OR EQUIVALENT RATING AGENCY APPROVED BY
LANDLORD AND LENDER IN THEIR SOLE DISCRETION FOR ALL PRIMARY COVERAGE (OR SUCH
LOWER BEST'S AND S&P RATINGS AS SHALL BE REASONABLY ACCEPTABLE TO LANDLORD AND
LENDER WITH RESPECT TO ANY EXCESS COVERAGE CARRIER) AND ARE AUTHORIZED TO WRITE
INSURANCE POLICIES BY, THE STATE INSURANCE DEPARTMENT (OR ITS EQUIVALENT) FOR
THE STATE.
THE INSURANCE POLICIES (I) SHALL BE FOR SUCH TERMS AS LANDLORD MAY
REASONABLY APPROVE AND (II) SHALL BE IN AMOUNTS SUFFICIENT AT ALL TIMES TO
SATISFY ANY COINSURANCE REQUIREMENTS THEREOF. IF SAID INSURANCE OR ANY PART
THEREOF SHALL EXPIRE, BE WITHDRAWN, BECOME VOID, VOIDABLE, UNRELIABLE OR UNSAFE
FOR ANY REASON, INCLUDING A BREACH OF ANY CONDITION THEREOF BY TENANT OR THE
FAILURE OR IMPAIRMENT OF THE CAPITAL OF ANY INSURER, TENANT SHALL IMMEDIATELY
OBTAIN NEW OR ADDITIONAL INSURANCE REASONABLY SATISFACTORY TO LANDLORD.
THE
INSURANCE REFERRED TO IN PARAGRAPHS 16(A)(I), 16(A)(IV) AND 16(A)(VI) SHALL NAME
LANDLORD AND LENDER AS LOSS PAYEE (BUT SHALL NAME LANDLORD AS AN ADDITIONAL
INSURED AFTER THE OPTION LAPSE DATE) AND TENANT AS ITS INTEREST MAY APPEAR.
THE
INSURANCE REFERRED TO IN PARAGRAPH 16(A)(II) SHALL NAME LANDLORD, LENDER, THE
CONDOMINIUM AND ITS BOARD, ALL PUBLIC PARTIES (AS SUCH TERM IS DEFINED IN THE
DECLARATION), ANY PROPERTY MANAGER RETAINED BY TENANT OR LANDLORD WITH RESPECT
TO THE LEASED PREMISES OR THE CONDOMINIUM AND ANY OTHER PERSON REQUIRED UNDER
THE TERMS OF THE GOVERNING DOCUMENTS, AS ADDITIONAL INSUREDS, AND THE INSURANCE
REFERRED TO IN PARAGRAPH 16(A)(V) SHALL NAME LANDLORD AND LENDER AS LOSS PAYEES
AS THEIR INTERESTS MAY APPEAR.
THE GENERAL LIABILITY INSURANCE COVERAGE WITH
RESPECT TO THE COMMON ELEMENTS OF THE BUILDING REQUIRED TO BE MAINTAINED UNDER
THE TERMS OF CONDOMINIUM DOCUMENTS SHALL NAME LANDLORD AND LENDER AS ADDITIONAL
INSUREDS, AND THE "ALL-RISK" PROPERTY/CASUALTY INSURANCE COVERAGE WITH RESPECT
TO THE COMMON ELEMENTS OF THE BUILDING REQUIRED TO BE MAINTAINED UNDER THE TERMS
OF CONDOMINIUM DOCUMENTS SHALL NAME LANDLORD AND LENDER AS LOSS PAYEES (BUT
SHALL NAME LANDLORD