THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT OR ANY
SUCCESSOR THERETO AS AN AREA HAVING SPECIAL FLOOD HAZARDS PURSUANT TO THE
NATIONAL FLOOD INSURANCE ACT OF 1968, THE FLOOD DISASTER PROTECTION ACT OF 1973
OR THE NATIONAL FLOOD INSURANCE REFORM ACT OF 1994, AS EACH MAY BE AMENDED, OR
ANY SUCCESSOR LAW (THE "FLOOD INSURANCE ACTS"), FLOOD HAZARD INSURANCE OF THE
FOLLOWING TYPES AND IN THE FOLLOWING AMOUNTS (A) COVERAGE UNDER POLICIES ISSUED
PURSUANT TO THE FLOOD INSURANCE ACTS (THE "FLOOD INSURANCE POLICIES") IN AN
AMOUNT EQUAL TO THE MAXIMUM LIMIT OF COVERAGE AVAILABLE FOR THE APPLICABLE
INDIVIDUAL PROPERTY UNDER THE FLOOD INSURANCE ACTS, SUBJECT ONLY TO CUSTOMARY
DEDUCTIBLES UNDER SUCH POLICIES AND (B) COVERAGE UNDER SUPPLEMENTAL PRIVATE
POLICIES IN AN AMOUNT, WHICH WHEN ADDED TO THE COVERAGE PROVIDED UNDER THE FLOOD
ACT POLICIES WITH RESPECT TO AN INDIVIDUAL PROPERTY, IS NOT LESS THAN THE
ALLOCATED LOAN AMOUNT FOR SUCH INDIVIDUAL PROPERTY;
(VIII)
EARTHQUAKE FOR LOCATIONS WITH PROBABLE MAXIMUM LOSS PERCENTAGES
(PML%) OF 20 OR GREATER, AND, IF REQUIRED BY LENDER, SINKHOLE AND MINE
SUBSIDENCE INSURANCE IN AMOUNTS EQUAL TO ONE TIMES (1X) THE PROBABLE MAXIMUM
LOSS OF EACH INDIVIDUAL PROPERTY AS DETERMINED BY LENDER IN ITS SOLE DISCRETION
AND IN FORM AND SUBSTANCE SATISFACTORY TO LENDER, PROVIDED THAT THE INSURANCE
PURSUANT TO THIS SECTION 6.1(A)(VIII) HEREOF SHALL BE ON TERMS CONSISTENT WITH
THE ALL RISK INSURANCE POLICY REQUIRED UNDER SECTION 6.1(A)(I) HEREOF;
(IX)
UMBRELLA LIABILITY INSURANCE IN AN AMOUNT NOT LESS THAN
SEVENTY-FIVE MILLION AND 00/100 DOLLARS ($75,000,000.00) PER OCCURRENCE ON TERMS
CONSISTENT WITH THE COMMERCIAL GENERAL LIABILITY INSURANCE POLICY REQUIRED UNDER
SECTION 6.1(A)(II) HEREOF;
(X)
SUCH OTHER INSURANCE AND IN SUCH AMOUNTS AS IS REQUIRED UNDER
THE OPERATING LEASES, THE QUALIFIED ASSIGNEE LEASES OR 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 EACH INDIVIDUAL
PROPERTY LOCATED IN OR AROUND THE REGION IN WHICH THE EACH INDIVIDUAL PROPERTY
IS LOCATED.
(B)
ALL INSURANCE PROVIDED SHALL BE OBTAINED UNDER VALID AND
ENFORCEABLE POLICIES (THE "POLICIES" OR IN THE SINGULAR, THE "POLICY"), AND
SHALL BE SUBJECT TO THE APPROVAL OF LENDER AS TO INSURANCE COMPANIES, POLICY
LIMITS AND ANY SUB-LIMITS THEREOF, FORMS (INCLUDING EXCLUSIONS AND EXCEPTIONS),
DEDUCTIBLES, LOSS PAYEES AND INSUREDS. THE INSURANCE COMPANIES MUST BE APPROVED,
AUTHORIZED OR LICENSED TO PROVIDE INSURANCE IN THE STATE IN WHICH THE PROPERTY
IS LOCATED AND HAVE A RATING OF "A" OR BETTER FOR FINANCIAL STRENGTH CLAIMS
PAYING ABILITY ASSIGNED BY MOODY'S INVESTORS SERVICE, INC. (IF MOODY'S INVESTORS
SERVICE, INC. PROVIDES A RATING FOR THE INSURER) AND STANDARD & POOR'S RATING
GROUP ("S&P"), PROVIDED THAT IF ANY INSURANCE REQUIRED IS PROVIDED BY A
SYNDICATE OF INSURERS, THE INSURERS WITH RESPECT TO SUCH INSURANCE SHALL BE
ACCEPTABLE IF:
(I) THE FIRST LAYER OF COVERAGE UNDER SUCH INSURANCE SHALL BE
PROVIDED BY CARRIERS WITH A MINIMUM FINANCIAL STRENGTH RATING FROM S&P OF "A" OR
BETTER; (II) SIXTY PERCENT (60%) (SEVENTY-FIVE PERCENT (75%) IF THERE FOUR OR
FEWER MEMBERS