WITH RESPECT
TO SUCH MULTIEMPLOYER PLAN;
(IV)
THE COMPLETE OR PARTIAL WITHDRAWAL FROM A MULTIEMPLOYER PLAN BY
BORROWER OR ANY ERISA AFFILIATE OF BORROWER THAT RESULTS IN MATERIAL LIABILITY
UNDER SECTION 4201 OR 4204 OF ERISA (INCLUDING THE OBLIGATION TO SATISFY
SECONDARY LIABILITY AS A RESULT OF A PURCHASER DEFAULT) OR THE RECEIPT BY
BORROWER OR ANY ERISA AFFILIATE OF BORROWER OF NOTICE FROM A MULTIEMPLOYER PLAN
THAT IT IS IN REORGANIZATION OR INSOLVENCY PURSUANT TO SECTION 4241 OR 4245 OF
ERISA OR THAT IT INTENDS TO TERMINATE OR HAS TERMINATED UNDER SECTION 4041A OF
ERISA;
(V)
THE INSTITUTION OF A PROCEEDING BY A FIDUCIARY OF ANY MULTIEMPLOYER
PLAN AGAINST BORROWER OR ANY ERISA AFFILIATE OF BORROWER TO ENFORCE SECTION 515
OF ERISA, WHICH PROCEEDING IS NOT DISMISSED WITHIN THIRTY (30) DAYS;
(VI)
THE ADOPTION OF AN AMENDMENT TO ANY PLAN THAT, PURSUANT TO
SECTION 401(A)(29) OF THE CODE OR SECTION 307 OF ERISA, WOULD RESULT IN THE LOSS
OF TAX-EXEMPT STATUS OF THE TRUST OF WHICH SUCH PLAN IS A PART IF BORROWER OR AN
ERISA AFFILIATE OF BORROWER FAILS TO TIMELY PROVIDE SECURITY TO THE PLAN IN
ACCORDANCE WITH THE PROVISIONS OF SAID SECTIONS; AND
(VII)
THE IMPOSITION OF A LIEN OR A SECURITY INTEREST IN CONNECTION WITH
A PLAN.
(V)
RESERVED.
87
(W)
RESERVED.
(x)
Insurance.
(I)
BORROWER, AT ITS SOLE COST AND EXPENSE, SHALL KEEP THE
IMPROVEMENTS AND EQUIPMENT INSURED (INCLUDING, BUT NOT LIMITED TO, ANY PERIOD OF
RENOVATION, ALTERATION AND/OR CONSTRUCTION) DURING THE TERM OF THE LOAN WITH THE
COVERAGE AND IN THE AMOUNTS REQUIRED UNDER THIS AGREEMENT (AND WITH DEDUCTIBLES
ACCEPTABLE TO AGENT) FOR THE MUTUAL BENEFIT OF BORROWER AND AGENT AGAINST LOSS
OR DAMAGE BY FIRE, LIGHTNING, WIND AND SUCH OTHER PERILS AS ARE CUSTOMARILY
INCLUDED IN A STANDARD "ALL-RISK" OR "SPECIAL CAUSE OF LOSS" FORM AND AGAINST
LOSS OR DAMAGE BY OTHER RISKS AND HAZARDS COVERED BY A STANDARD EXTENDED
COVERAGE INSURANCE POLICY (INCLUDING, WITHOUT LIMITATION, RIOT AND CIVIL
COMMOTION, VANDALISM, MALICIOUS MISCHIEF, BURGLARY, COLLAPSE, THEFT AND SUCH
OTHER COVERAGES AS MAY BE REASONABLY REQUIRED BY AGENT ON THE SPECIAL FORM
(FORMERLY KNOWN AS AN ALL-RISK FORM)). SUCH INSURANCE SHALL BE IN AN AMOUNT
(I) EQUAL TO AT LEAST THE FULL REPLACEMENT COST OF THE IMPROVEMENTS AND
EQUIPMENT (EXCLUSIVE OF THE COST OF FOUNDATIONS AND FOOTINGS), WITHOUT DEDUCTION
FOR PHYSICAL DEPRECIATION, (II) SUCH THAT THE INSURER WOULD NOT DEEM BORROWER A
CO-INSURER UNDER SAID POLICIES AND (III) WITH RESPECT TO LOSS OR DAMAGE BY WIND,
SHALL BE SUBJECT TO A DEDUCTIBLE NO GREATER THAN 5% OF TOTAL INSURED VALUE. THE
POLICIES OF INSURANCE CARRIED IN ACCORDANCE WITH THIS SECTION 5.1(X) SHALL BE
PAID NOT LESS THAN TEN (10) DAYS IN ADVANCE OF THE DUE DATE THEREOF AND SHALL
CONTAIN THE "REPLACEMENT COST ENDORSEMENT" WITH A WAIVER OF DEPRECIATION. IF
TERRORISM COVERAGE IS EXCLUDED ON AN "ALL-RISK" BASIS, THEN THE BORROWER SHALL
OBTAIN COVERAGE FOR TERRORISM AND SIMILAR ACTS IN THE STANDALONE TERRORISM
MARKET. NOTWITHSTANDING THE FOREGOING, AGENT SHALL NOT UNREASONABLY WITHHOLD