Affiliate of the
Mortgagor if the terms of such blanket policies otherwise comply with the
provisions of Section 8.1 hereof and contain specific coverage allocations in
respect of the Premises complying with the provisions of Section 8.1 hereof.
SECTION 8.7
DELIVERY AFTER FORECLOSURE.
IN THE EVENT THAT THE PROCEEDS OF ANY
INSURANCE CLAIM ARE PAID AFTER THE MORTGAGEE HAS EXERCISED ITS RIGHT TO
FORECLOSE THE LIEN HEREOF, SUCH PROCEEDS
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SHALL BE PAID TO THE MORTGAGEE TO SATISFY ANY DEFICIENCY REMAINING AFTER SUCH
FORECLOSURE.
MORTGAGEE SHALL RETAIN ITS INTEREST IN THE INSURANCE POLICIES
REQUIRED TO BE MAINTAINED PURSUANT TO THIS MORTGAGE DURING ANY REDEMPTION
PERIOD.
ARTICLE IX
CONTESTING OF PAYMENTS
SECTION 9.1
CONTESTING OF TAXES AND CERTAIN STATUTORY LIENS.
THE MORTGAGOR MAY
AT ITS OWN EXPENSE CONTEST THE VALIDITY, AMOUNT OR APPLICABILITY OF ANY CHARGES
AS LONG AS THE CONTEST THEREOF SHALL BE CONDUCTED IN ACCORDANCE WITH, AND
PERMITTED PURSUANT TO THE PROVISIONS OF, THE INDENTURE.
SECTION 9.2
CONTESTING OF INSURANCE.
THE MORTGAGOR SHALL NOT TAKE ANY ACTION
THAT COULD BE THE BASIS FOR TERMINATION, REVOCATION OR DENIAL OF ANY INSURANCE
COVERAGE REQUIRED TO BE MAINTAINED UNDER THIS MORTGAGE OR THAT COULD BE THE
BASIS FOR A DEFENSE TO ANY CLAIM UNDER ANY INSURANCE POLICY MAINTAINED IN
RESPECT OF THE PREMISES AND THE MORTGAGOR SHALL OTHERWISE COMPLY IN ALL RESPECTS
WITH ALL INSURANCE REQUIREMENTS IN RESPECT OF THE PREMISES; PROVIDED, HOWEVER,
THAT THE MORTGAGOR MAY, AT ITS OWN EXPENSE AND AFTER WRITTEN NOTICE TO THE
MORTGAGEE, (I) CONTEST THE APPLICABILITY OR ENFORCEABILITY OF ANY SUCH INSURANCE
REQUIREMENTS BY APPROPRIATE LEGAL PROCEEDINGS, PROSECUTION OF WHICH DOES NOT
CONSTITUTE A BASIS FOR CANCELLATION OR REVOCATION OF ANY INSURANCE COVERAGE
REQUIRED UNDER ARTICLE VIII HEREOF OR (II) CAUSE THE INSURANCE POLICY CONTAINING
ANY SUCH INSURANCE REQUIREMENT TO BE REPLACED BY A NEW POLICY COMPLYING WITH THE
PROVISIONS OF ARTICLE VIII HEREOF.
ARTICLE X
DESTRUCTION, CONDEMNATION AND RESTORATION
SECTION 10.1
CASUALTY.
IF THERE SHALL OCCUR ANY CASUALTY, INDIVIDUALLY OR IN
THE AGGREGATE, IN EXCESS OF $100,000, THE MORTGAGOR SHALL PROMPTLY SEND TO THE
MORTGAGEE A WRITTEN NOTICE SETTING FORTH THE NATURE AND EXTENT OF SUCH
CASUALTY.
THE PROCEEDS OF ANY INSURANCE PAYABLE IN RESPECT OF SUCH CASUALTY ARE
HEREBY ASSIGNED AND SHALL BE PAID TO THE MORTGAGEE.
THE NET LOSS PROCEEDS
ARISING OUT OF SUCH CASUALTY SHALL BE APPLIED IN ACCORDANCE WITH THE PROVISIONS
OF SECTIONS 4.19 AND 10.3(B) OF THE INDENTURE.
SECTION 10.2
CONDEMNATION.
IF THERE SHALL OCCUR ANY CONDEMNATION OR THE
COMMENCEMENT OF ANY PROCEEDING THEREOF, THE MORTGAGOR SHALL IMMEDIATELY NOTIFY
THE MORTGAGEE UPON RECEIVING NOTICE OF SUCH CONDEMNATION OR COMMENCEMENT OF
PROCEEDINGS THEREFOR.
THE MORTGAGEE MAY, AT ITS OPTION, PARTICIPATE IN ANY
PROCEEDINGS OR NEGOTIATIONS WHICH MIGHT RESULT IN ANY CONDEMNATION, AND THE
MORTGAGOR SHALL DELIVER OR CAUSE TO BE DELIVERED TO THE MORTGAGEE ALL
INSTRUMENTS REQUESTED BY IT TO PERMIT SUCH PARTICIPATION.
THE MORTGAGEE MAY BE
REPRESENTED BY COUNSEL REASONABLY SATISFACTORY TO IT AT THE REASONABLE EXPENSE
OF THE MORTGAGOR IN CONNECTION WITH ANY SUCH PARTICIPATION.
THE MORTGAGOR SHALL