PROVIDING IN
COMBINATION NO LESS THAN CONTAINING MINIMUM LIMITS PER OCCURRENCE OF $1,000,000
AND $2,000,000 IN THE AGGREGATE FOR ANY POLICY YEAR; TOGETHER WITH AT LEAST
$10,000,000 EXCESS AND/OR UMBRELLA LIABILITY INSURANCE FOR ANY AND ALL CLAIMS
WITH NO DEDUCTIBLE.
THE POLICIES DESCRIBED IN THIS SUBSECTION SHALL ALSO
INCLUDE COVERAGE FOR ELEVATORS, ESCALATORS, INDEPENDENT CONTRACTORS,
"CONTRACTUAL LIABILITY" (COVERING, TO THE MAXIMUM EXTENT PERMITTED BY LAW,
BORROWER'S OBLIGATION TO INDEMNIFY LENDER AS REQUIRED UNDER THIS AGREEMENT AND
THE OTHER LOAN DOCUMENTS), "PRODUCTS" AND "COMPLETED OPERATIONS LIABILITY"
COVERAGE.
(D)
RENTAL LOSS AND/OR BUSINESS INTERRUPTION
INSURANCE (I) WITH LENDER BEING NAMED AS "LENDER LOSS PAYEE", AND (II) IN AN
AMOUNT EQUAL TO ONE HUNDRED PERCENT (100%) OF THE PROJECTED RENTS FROM THE
PROPERTY FOR NOT LESS THAN A 24 MONTH PERIOD COMMENCING AT THE
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TIME OF LOSS UNTIL REPAIRS ARE COMPLETED WITH REASONABLE SPEED AND DILIGENCE
PLUS A POST-REPAIR COMPLETION EXTENDED PERIOD OF INDEMNITY SUCH THAT THE
CONTINUED LOSS OF INCOME WILL BE INSURED UNTIL THE PROPERTY IS RESTORED AND SUCH
INCOME RETURNS TO THE SAME LEVEL IT WAS AT PRIOR TO THE LOSS, OR THE EXPIRATION
OF NOT LESS THAN SUCH 24 MONTH PERIOD FROM THE TIME OF LOSS, WHICHEVER FIRST
OCCURS, AND NOTWITHSTANDING THAT THE POLICY MAY EXPIRE PRIOR TO THE END OF SUCH
PERIOD.
THE AMOUNT OF SUCH INSURANCE SHALL BE INCREASED FROM TIME TO TIME
DURING THE TERM AS AND WHEN THE ESTIMATED OR ACTUAL RENTS INCREASE.
(E)
COMPREHENSIVE BOILER AND MACHINERY
INSURANCE COVERING ALL MECHANICAL AND ELECTRICAL EQUIPMENT AGAINST PHYSICAL
DAMAGE, RENT LOSS AND IMPROVEMENTS LOSS AND COVERING, WITHOUT LIMITATION, ALL
TENANT IMPROVEMENTS AND BETTERMENTS THAT BORROWER IS REQUIRED TO INSURE PURSUANT
TO THE LEASES ON A REPLACEMENT COST BASIS AND IN AN AMOUNT EQUAL TO THE GREATER
OF (I) $2,000,000 AND (II) ONE HUNDRED PERCENT (100%) OF THE FULL REPLACEMENT
COST OF THE IMPROVEMENTS ON THE PROPERTY (WITHOUT ANY DEDUCTION FOR
DEPRECIATION).
(F)
WORKER'S COMPENSATION AND DISABILITY
INSURANCE WITH RESPECT TO ANY EMPLOYEES OF BORROWER, AS REQUIRED BY ANY LEGAL
REQUIREMENT.
(G)
DURING ANY PERIOD OF REPAIR OR RESTORATION,
BUILDER'S "ALL-RISK" INSURANCE ON THE SO-CALLED COMPLETED VALUE BASIS IN AN
AMOUNT EQUAL TO NOT LESS THAN THE FULL INSURABLE VALUE OF THE PROPERTY, AGAINST
SUCH RISKS (INCLUDING FIRE AND EXTENDED COVERAGE AND COLLAPSE OF THE
IMPROVEMENTS TO AGREED LIMITS) AS LENDER MAY REQUEST, IN FORM AND SUBSTANCE
ACCEPTABLE TO LENDER.
(H)
COVERAGE TO COMPENSATE FOR THE COST OF
DEMOLITION AND THE INCREASED COST OF CONSTRUCTION IN AN AMOUNT SATISFACTORY TO
LENDER.
(I)
SUCH OTHER INSURANCE (INCLUDING
ENVIRONMENTAL LIABILITY INSURANCE, EARTHQUAKE (BUT ONLY IF A FUTURE SEISMIC
STUDY INDICATES A PML IN EXCESS OF TWENTY PERCENT (20%) INSURANCE, MINE
SUBSIDENCE INSURANCE AND WINDSTORM INSURANCE) AS MAY FROM TIME TO TIME BE
REASONABLY REQUIRED BY LENDER IN ORDER TO PROTECT ITS INTERESTS.
(J)
NOTWITHSTANDING ANYTHING IN SUBSECTION
(A) ABOVE TO THE CONTRARY, BORROWER SHALL BE REQUIRED TO OBTAIN AND MAINTAIN
COVERAGE IN ITS PROPERTY INSURANCE POLICY (OR BY A SEPARATE POLICY) AGAINST LOSS
OR DAMAGE BY TERRORIST