APPEAR, PURSUANT TO THE INSURANCE COVERAGE REQUIRED UNDER THIS SECTION
6.1(A)(II) WHICH (X) ARE FOR LOSSES IN THE MONTH IN WHICH SUCH PROCEEDS ARE
RECEIVED OR FOR LOSSES PRIOR TO THE DATE OF RECEIPT, AND (Y) ARE FOR PROJECTED
OR FUTURE LOSSES SHALL BE APPLIED TO THE OBLIGATIONS OF BORROWER, MORTGAGE
BORROWER AND MEZZANINE A BORROWER, AS THE CASE MAY BE, FROM TIME TO TIME DUE AND
PAYABLE UNDER THE LOAN, THE MORTGAGE LOAN AND THE MEZZANINE A LOAN, AS THE CASE
MAY BE, FOR EACH PERIOD AS AND WHEN INCURRED; PROVIDED, HOWEVER, THAT NOTHING
HEREIN CONTAINED SHALL BE DEEMED TO RELIEVE BORROWER, MORTGAGE BORROWER OR
MEZZANINE A BORROWER OF ITS RESPECTIVE OBLIGATIONS TO PAY THE AMOUNTS DUE UNDER
THE LOAN, THE MORTGAGE LOAN AND THE MEZZANINE A LOAN,
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AS THE CASE MAY BE, ON THE RESPECTIVE DATES OF PAYMENT PROVIDED FOR UNDER THE
LOAN, THE MORTGAGE LOAN AND THE MEZZANINE A LOAN, AS THE CASE MAY BE, EXCEPT TO
THE EXTENT SUCH AMOUNTS ARE ACTUALLY PAID OUT OF THE PROCEEDS OF SUCH BUSINESS
INTERRUPTION/LOSS OF RENTS INSURANCE.
(III)
COMMERCIAL GENERAL LIABILITY INSURANCE AGAINST CLAIMS FOR
PERSONAL INJURY, BODILY INJURY, DEATH OR PROPERTY DAMAGE OCCURRING UPON, IN OR
ABOUT THE PROPERTIES, SUCH INSURANCE (A) TO BE ON THE SO CALLED "OCCURRENCE"
FORM AND CONTAINING MINIMUM LIMITS PER OCCURRENCE OF $1,000,000 WITH A
$2,000,000 GENERAL AGGREGATE FOR ANY POLICY YEAR; (B) TO CONTINUE AT NOT LESS
THAN THE AFORESAID LIMIT UNTIL REASONABLY REQUIRED TO BE CHANGED BY LENDER IN
WRITING BY REASON OF CHANGED ECONOMIC CONDITIONS MAKING SUCH PROTECTION
INADEQUATE; AND (C) TO COVER AT LEAST THE FOLLOWING HAZARDS:
(1) PREMISES AND
OPERATIONS; (2) PRODUCTS AND COMPLETED OPERATIONS ON AN "IF ANY" BASIS; (3)
INDEPENDENT CONTRACTORS; (4) BLANKET CONTRACTUAL LIABILITY FOR ALL WRITTEN AND
ORAL CONTRACTS; AND (5) CONTRACTUAL LIABILITY COVERING THE INDEMNITIES CONTAINED
IN THE SECURITY INSTRUMENTS TO THE EXTENT THE SAME IS AVAILABLE;
(IV)
IF AND TO THE EXTENT NOT COVERED BY THE INSURANCE REQUIRED TO BE
MAINTAINED PURSUANT TO SECTION 6.1(A)(I) AND SECTION 6.1(A)(III) HEREOF, AT ALL
TIMES DURING WHICH STRUCTURAL CONSTRUCTION, REPAIRS OR ALTERATIONS ARE BEING
MADE WITH RESPECT TO THE IMPROVEMENTS (A) OWNER'S CONTINGENT LIABILITY INSURANCE
OR ITS EQUIVALENT COVERING CLAIMS NOT COVERED BY OR UNDER THE TERMS OR
PROVISIONS OF THE COMMERCIAL GENERAL LIABILITY INSURANCE PROVIDED FOR IN SECTION
6.1(A)(III) HEREOF; AND (B) THE INSURANCE PROVIDED FOR IN SECTION 6.1(A)(I)
HEREOF SHALL BE WRITTEN IN A SO CALLED BUILDER'S RISK COMPLETED VALUE FORM (1)
ON A NON-REPORTING BASIS, (2) AGAINST ALL RISKS INSURED AGAINST PURSUANT TO
SECTION 6.1(A)(I) HEREOF, (3) SHALL INCLUDE PERMISSION TO OCCUPY THE APPLICABLE
INDIVIDUAL PROPERTY, AND (4) SHALL CONTAIN AN AGREED AMOUNT ENDORSEMENT WAIVING
CO INSURANCE PROVISIONS;
(V)
WORKERS' COMPENSATION, SUBJECT TO THE STATUTORY LIMITS OF THE
STATE(S) IN WHICH EACH INDIVIDUAL PROPERTY IS LOCATED, AND EMPLOYER'S LIABILITY
INSURANCE WITH A LIMIT OF AT LEAST $2,000,000 PER ACCIDENT AND PER DISEASE PER
EMPLOYEE, AND $2,000,000 FOR DISEASE IN THE AGGREGATE IN RESPECT OF ANY WORK OR
OPERATIONS ON OR