OF PROPERTIES SIMILAR TO THE MORTGAGED PROPERTY LOCATED IN OR AROUND THE REGION
IN WHICH SUCH MORTGAGED PROPERTY IS LOCATED OR (II) SUCH INSURANCE IS NOT
AVAILABLE AT ANY RATE. SUBJECT TO SECTION 3.17(B), THE SPECIAL SERVICER SHALL
ALSO USE REASONABLE EFFORTS TO CAUSE TO BE MAINTAINED FOR EACH REO PROPERTY NO
LESS INSURANCE COVERAGE THAN WAS PREVIOUSLY REQUIRED OF THE OBLIGOR UNDER THE
RELATED MORTGAGE OR LEASE AND AT A MINIMUM, (I) HAZARD INSURANCE WITH A
REPLACEMENT COST RIDER AND (II) COMPREHENSIVE GENERAL LIABILITY INSURANCE, IN
EACH CASE, IN AN AMOUNT CUSTOMARY FOR THE TYPE AND GEOGRAPHIC LOCATION OF SUCH
REO PROPERTY AND CONSISTENT WITH THE SERVICING STANDARD; PROVIDED, THAT ALL SUCH
INSURANCE SHALL BE OBTAINED FROM QUALIFIED INSURERS THAT, IF THEY ARE PROVIDING
CASUALTY INSURANCE, SHALL HAVE A CLAIMS-PAYING ABILITY RATED AT LEAST ""
BY A.M. BEST'S KEY RATING GUIDE. THE COST OF ANY SUCH INSURANCE COVERAGE
OBTAINED BY EITHER THE PROPERTY MANAGER OR THE SPECIAL SERVICER SHALL BE
A PROPERTY PROTECTION ADVANCE TO BE PAID BY THE PROPERTY MANAGER. ALL SUCH
INSURANCE POLICIES SHALL CONTAIN (IF THEY INSURE AGAINST LOSS TO PROPERTY) A
"STANDARD" MORTGAGEE CLAUSE, WITH LOSS PAYABLE TO THE PROPERTY MANAGER, AS AGENT
OF AND FOR THE ACCOUNT OF THE APPLICABLE ISSUER AND THE INDENTURE TRUSTEE, AND
SHALL BE ISSUED BY AN INSURER AUTHORIZED UNDER APPLICABLE LAW TO ISSUE SUCH
INSURANCE. ANY AMOUNTS COLLECTED BY THE PROPERTY MANAGER OR THE SPECIAL SERVICER
UNDER ANY SUCH POLICIES (OTHER THAN AMOUNTS TO BE APPLIED TO THE RESTORATION OR
REPAIR OF THE RELATED MORTGAGED PROPERTY OR AMOUNTS TO BE RELEASED TO THE
RELATED TENANT, IN EACH CASE IN ACCORDANCE WITH THE SERVICING STANDARD) SHALL BE
DEPOSITED IN THE COLLECTION ACCOUNT, SUBJECT TO WITHDRAWAL PURSUANT TO
SECTION 2.11 OF THE INDENTURE.
(B)
THE PROPERTY MANAGER OR SPECIAL SERVICER
MAY SATISFY ITS OBLIGATIONS UNDER SECTION 3.07(A) BY OBTAINING, MAINTAINING OR
CAUSING TO BE MAINTAINED A BLANKET OR FORCED PLACE INSURANCE POLICY. IF
APPLICABLE, THE PROPERTY MANAGER OR THE SPECIAL SERVICER SHALL OBTAIN AND
MAINTAIN, OR CAUSE TO BE OBTAINED AND MAINTAINED ON BEHALF OF EACH APPLICABLE
ISSUER, A MASTER FORCED PLACE INSURANCE POLICY OR A BLANKET POLICY (OR AN
ENDORSEMENT TO AN EXISTING POLICY) INSURING AGAINST HAZARD LOSSES (NOT OTHERWISE
INSURED BY A TENANT OR BORROWER DUE TO A DEFAULT BY SUCH TENANT OR BORROWER
UNDER THE INSURANCE COVENANTS OF ITS LEASE OR MORTGAGE LOAN OR BECAUSE A TENANT
OR BORROWER PERMITTED TO SELF-INSURE FAILS TO PAY FOR CASUALTY LOSSES) ON THE
APPLICABLE MORTGAGED PROPERTIES THAT IT IS REQUIRED TO SERVICE AND ADMINISTER,
WHICH POLICY SHALL (I) BE OBTAINED FROM A QUALIFIED INSURER HAVING A
CLAIMS-PAYING ABILITY RATED AT LEAST "A:VIII" BY A.M. BEST'S KEY RATING GUIDE
AND AT LEAST "A" BY S&P, AND (II) PROVIDE PROTECTION EQUIVALENT TO THE
INDIVIDUAL POLICIES OTHERWISE REQUIRED UNDER SECTION 3.07(A). THE PROPERTY
MANAGER AND THE SPECIAL SERVICER SHALL BEAR THE COST OF ANY PREMIUM PAYABLE IN
RESPECT OF ANY SUCH BLANKET POLICY (OTHER THAN BLANKET POLICIES SPECIFICALLY
OBTAINED FOR MORTGAGED PROPERTIES OR REO