POLICY, WITH BORROWER PAYING SUCH PORTION OF THE INSURANCE PREMIUMS
WITH RESPECT THERETO EQUAL TO THE TERRORISM PREMIUM CAP AND LENDER PAYING SUCH
PORTION OF THE INSURANCE PREMIUMS IN EXCESS OF THE TERRORISM PREMIUM CAP, AND/OR
(2) MODIFY THE DEDUCTIBLE AMOUNTS, POLICY LIMITS AND OTHER REQUIRED POLICY TERMS
TO REDUCE THE INSURANCE PREMIUMS PAYABLE WITH RESPECT TO SUCH STAND-ALONE
TERRORISM POLICY TO THE TERRORISM PREMIUM CAP. AS USED HEREIN, "TERRORISM
PREMIUM CAP" MEANS AN AMOUNT EQUAL TO TWO HUNDRED PERCENT (200%) OF THE COST ON
THE CLOSING DATE OF A STAND-ALONE TERRORISM INSURANCE POLICY FOR THE MORTGAGED
PROPERTIES WHICH OTHERWISE SATISFIES THIS SECTION 5.1(X). NOTWITHSTANDING THE
FOREGOING, THE TERRORISM COVERAGE MAY EXCLUDE NON-CERTIFIED TRIA COVERAGE (I.E.
THE ACTIONS OF DOMESTIC ACTORS).
(II)
BORROWER, AT ITS SOLE COST AND EXPENSE, FOR THE MUTUAL BENEFIT OF
BORROWER AND LENDER, SHALL ALSO OBTAIN AND MAINTAIN OR CAUSE TO BE OBTAINED AND
MAINTAINED DURING THE ENTIRE TERM OF THE LOAN THE FOLLOWING POLICIES OF
INSURANCE:
(A)
IF NOT PART OF THE "ALL-RISK" POLICY REQUIRED BY THIS
SECTION 5.1(X), FLOOD INSURANCE, IF ANY PART OF THE INSURABLE IMPROVEMENTS ON
THE MORTGAGED PROPERTY ARE LOCATED IN AN AREA IDENTIFIED BY THE FEDERAL
EMERGENCY MANAGEMENT AGENCY AS AN AREA HAVING SPECIAL FLOOD HAZARDS AND IN WHICH
FLOOD INSURANCE HAS BEEN MADE AVAILABLE UNDER THE NATIONAL FLOOD INSURANCE ACT
OF 1968, THE FLOOD DISASTER PROTECTION ACT OF 1973 OR THE NATIONAL FLOOD
INSURANCE REFORM ACT OF 1994 (AND ANY AMENDMENT OR SUCCESSOR ACT THERETO) IN AN
AMOUNT AT LEAST EQUAL TO THE
94
MAXIMUM LIMIT OF COVERAGE AVAILABLE WITH RESPECT TO THE IMPROVEMENTS AND
EQUIPMENT UNDER SAID ACT;
(B)
COMPREHENSIVE GENERAL LIABILITY INSURANCE, INCLUDING A BROAD FORM
COMPREHENSIVE GENERAL LIABILITY ENDORSEMENT AND COVERAGE FOR BROAD FORM PROPERTY
DAMAGE, CONTRACTUAL DAMAGES, PERSONAL INJURIES (INCLUDING DEATH RESULTING
THEREFROM) AND A LIQUOR LIABILITY ENDORSEMENT IF LIQUOR IS SOLD ON THE MORTGAGED
PROPERTY, CONTAINING MINIMUM LIMITS OF LIABILITY OF $1 MILLION FOR BOTH INJURY
TO OR DEATH OF A PERSON AND FOR PROPERTY DAMAGE PER OCCURRENCE AND $2 MILLION IN
THE AGGREGATE FOR THE MORTGAGED PROPERTY, AND SUCH OTHER LIABILITY INSURANCE
REASONABLY REQUESTED BY LENDER; IN ADDITION, AT LEAST $25 MILLION EXCESS AND/OR
UMBRELLA LIABILITY INSURANCE SHALL BE OBTAINED AND MAINTAINED FOR ANY AND ALL
CLAIMS, INCLUDING ALL LEGAL LIABILITY IMPOSED UPON BORROWER IN CONNECTION WITH
THE OWNERSHIP, OPERATION AND MAINTENANCE OF THE MORTGAGED PROPERTY;
(C)
BUSINESS INTERRUPTION INSURANCE (INCLUDING RENTAL VALUE) IN AN
ANNUAL AGGREGATE AMOUNT EQUAL TO THE ESTIMATED NET OPERATING INCOME (INCLUDING,
WITHOUT LIMITATION, INCOME FROM THE LEASES OF EACH MORTGAGED PROPERTY
(INCLUDING, WITHOUT LIMITATION, THE LOSS OF ALL RENTS AND ADDITIONAL RENTS
PAYABLE BY ALL OF THE LESSEES UNDER THE LEASES, WHETHER OR NOT SUCH LEASES ARE
TERMINABLE IN THE EVENT OF A FIRE OR CASUALTY)), SUCH INSURANCE TO COVER LOSSES
FOR A PERIOD OF TWELVE (12) MONTHS AFTER THE DATE OF THE FIRE OR CASUALTY IN
QUESTION, PLUS AN EXTENDED PERIOD OF INDEMNITY COMMENCING AT THE TIME REPAIRS
ARE COMPLETED FOR A PERIOD OF NOT LESS