WITH COVERAGE AMOUNTS OF NOT LESS THAN AN AMOUNT EQUAL TO THE FULL
INSURABLE VALUE OF THE IMPROVEMENTS AND THE PERSONAL PROPERTY (THE "TERRORISM
INSURANCE REQUIRED AMOUNT"). THE BUSINESS INTERRUPTION/RENT LOSS INSURANCE
POLICY REQUIRED PURSUANT TO SECTION 6.1(A)(II) HEREOF SHALL NOT CONTAIN AN
EXCLUSION FROM COVERAGE UNDER SUCH POLICY FOR LOSS INCURRED AS A RESULT OF AN
ACT OF TERRORISM (BUT MAY CONTAIN AN EXCLUSION FOR ACTS OF WAR). IF TRIA OR
SIMILAR STATUE IS NOT IN EFFECT, THEN BORROWER SHALL BE REQUIRED TO, OR BORROWER
SHALL CAUSE MORTGAGE BORROWER TO, CARRY TERRORISM INSURANCE THROUGHOUT THE TERM
OF THE LOAN, AS REQUIRED BY THE PRECEDING SENTENCE, BUT IN SUCH EVENT NEITHER
BORROWER NOR MORTGAGE BORROWER SHALL BE REQUIRED TO SPEND ON TERRORISM INSURANCE
COVERAGE MORE THAN TWO TIMES THE AMOUNT OF THE INSURANCE PREMIUM THAT IS PAYABLE
AT SUCH TIME IN RESPECT OF THE ALL-RISK INSURANCE, EXCLUDING THE COST OF
EARTHQUAKE, FLOOD AND TERRORISM COVERAGE (AND IN SUCH EVENT SUCH TERRORISM
COVERAGE SHALL BE FROM SUCH INSURERS, AND WITH SUCH COVERAGE, AS SHALL BE
ACCEPTABLE TO LENDER IN ITS REASONABLE DISCRETION) (THE "TERRORISM INSURANCE
CAP") AND IF THE COST OF THE TERRORISM INSURANCE REQUIRED AMOUNT EXCEEDS THE
TERRORISM INSURANCE CAP, BORROWER SHALL, OR SHALL CAUSE MORTGAGE BORROWER TO,
PURCHASE THE MAXIMUM AMOUNT OF TERRORISM INSURANCE OBTAINABLE FOR A PREMIUM
EQUAL IN AMOUNT TO THE TERRORISM INSURANCE CAP; AND
(XI)
SUCH OTHER INSURANCE AND IN SUCH 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 PROPERTIES LOCATED IN THE REGION IN WHICH THE PROPERTIES ARE LOCATED.
(B)
ALL INSURANCE PROVIDED FOR IN
SECTION 6.1(A) HEREOF SHALL BE OBTAINED UNDER VALID AND ENFORCEABLE POLICIES
(COLLECTIVELY, THE "POLICIES" OR IN THE SINGULAR, THE "POLICY"), IN SUCH FORMS
AND, FROM TIME TO TIME AFTER THE DATE HEREOF, SUBJECT TO THE TERMS OF
SECTION 6.1(A) HEREOF, IN SUCH AMOUNTS AS MAY BE REASONABLY SATISFACTORY TO
LENDER. THE POLICIES SHALL BE ISSUED BY FINANCIALLY SOUND AND RESPONSIBLE
INSURANCE COMPANIES AUTHORIZED TO DO BUSINESS IN THE STATE IN WHICH THE
INDIVIDUAL PROPERTY IS LOCATED AND HAVING A CLAIMS PAYING ABILITY/ RATING OF "A"
OR BETTER (AND THE EQUIVALENT THEREOF) BY AT LEAST TWO OF THE RATING AGENCIES
RATING THE SECURITIES (ONE OF WHICH SHALL BE S&P, IF S&P IS RATING THE
SECURITIES, AND ONE OF WHICH SHALL BE MOODY'S, IF MOODY'S IS RATING THE
SECURITIES), OR IF ONLY ONE RATING AGENCY IS RATING THE SECURITIES, THEN ONLY BY
SUCH RATING AGENCY; PROVIDED, HOWEVER, THAT IF THE INSURANCE COVERAGE IS
PROVIDED BY A SYNDICATE OF INSURERS, THEN (I) IF SUCH SYNDICATE CONSISTS OF FIVE
OR MORE MEMBERS, (A) AT LEAST 40% OF THE INSURANCE COVERAGE (AND, SUBJECT TO THE
REMAINING PROVISIONS OF THIS SECTION 6.1(B), 100% OF THE FIRST LAYER OF SUCH
COVERAGE) SHALL BE PROVIDED BY INSURANCE COMPANIES HAVING A CLAIMS PAYING
ABILITY RATING OF "A" OR BETTER BY S&P AND 20% SHALL BE PROVIDED BY INSURANCE
COMPANIES