AGREEMENT AND THE OTHER LOAN DOCUMENTS
EXCEPT TO THE EXTENT SUCH AMOUNTS ARE ACTUALLY PAID OUT OF THE PROCEEDS OF SUCH
LOSS OF RENTS OR BUSINESS INCOME INSURANCE, AS APPLICABLE;
(IV)
AT ALL TIMES DURING WHICH STRUCTURAL
CONSTRUCTION, REPAIRS OR ALTERATIONS ARE BEING MADE WITH RESPECT TO THE
IMPROVEMENTS, AND ONLY IF SUCH PROPERTY COVERAGE FORM DOES NOT OTHERWISE APPLY,
(A) OWNER'S CONTINGENT OR PROTECTIVE LIABILITY INSURANCE COVERING CLAIMS NOT
COVERED BY OR UNDER THE TERMS OR PROVISIONS OF THE ABOVE MENTIONED COMMERCIAL
GENERAL LIABILITY INSURANCE POLICY; AND (B) THE INSURANCE PROVIDED FOR IN
SUBSECTION (I) ABOVE 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 SUBSECTION (I) ABOVE, (3) INCLUDING PERMISSION TO OCCUPY SUCH PROPERTY, AND
(4) WITH AN AGREED AMOUNT ENDORSEMENT WAIVING CO-INSURANCE PROVISIONS;
(V)
WORKERS' COMPENSATION, SUBJECT TO THE
STATUTORY LIMITS OF THE STATE, AND EMPLOYER'S LIABILITY INSURANCE IN RESPECT OF
ANY WORK OR OPERATIONS ON OR ABOUT SUCH PROPERTY, OR IN CONNECTION WITH SUCH
PROPERTY OR ITS OPERATION (IF APPLICABLE);
(VI)
COMPREHENSIVE BOILER AND MACHINERY INSURANCE,
IF APPLICABLE, IN AMOUNTS AS SHALL BE REASONABLY REQUIRED BY LENDER ON TERMS
CONSISTENT WITH THE COMMERCIAL PROPERTY INSURANCE POLICY REQUIRED UNDER
SUBSECTION (I) ABOVE;
84
(VII)
EXCESS LIABILITY INSURANCE IN AN AMOUNT NOT LESS
THAN $50,000,000 PER OCCURRENCE ON TERMS CONSISTENT WITH THE COMMERCIAL GENERAL
LIABILITY INSURANCE REQUIRED UNDER SUBSECTION (II) ABOVE OR AS OTHERWISE
APPROVED BY LENDER;
(VIII)
SINKHOLE AND MINE SUBSIDENCE INSURANCE, IF
REQUIRED, AND SUCH PROPERTY IS LOCATED IN AN "EARTHQUAKE" PRONE ZONE AS
DETERMINED BY THE U.S. GEOLOGICAL SURVEY, EARTHQUAKE INSURANCE IN AMOUNT NOT
LESS THAN THE PROBABLE MAXIMUM LOSS, ALL AS DETERMINED BY A RECOGNIZED
EARTHQUAKE ENGINEERING FIRM ACCEPTABLE TO AND APPROVED BY LENDER, LESS ANY
APPLICABLE DEDUCTIBLES, INCLUDING BUSINESS INTERRUPTION COVERAGE IN AN AMOUNT
NOT LESS THAN THAT SET FORTH IN CLAUSE (III) ABOVE;
(IX)
A BLANKET FIDELITY BOND AND ERRORS AND
OMISSIONS INSURANCE COVERAGE INSURING AGAINST LOSSES RESULTING FROM DISHONEST OR
FRAUDULENT ACTS COMMITTED BY (A) BORROWER'S PERSONNEL; (B) ANY EMPLOYEES OF
OUTSIDE FIRMS THAT PROVIDE APPRAISAL, LEGAL, DATA PROCESSING OR OTHER SERVICES
FOR BORROWER OR (C) TEMPORARY CONTRACT EMPLOYEES OR STUDENT INTERNS;
(X)
MOTOR VEHICLE LIABILITY COVERAGE FOR ALL
OWNED AND NON-OWNED VEHICLES, INCLUDING RENTED AND LEASED VEHICLES CONTAINING
MINIMUM LIMITS PER OCCURRENCE, INCLUDING UMBRELLA COVERAGE, OF ONE MILLION AND
NO/100 DOLLARS ($1,000,000);
(XI)
ENVIRONMENTAL INSURANCE FOR THE LOUISVILLE
PROPERTY IN FORM ACCEPTABLE TO LENDER FOR AN INITIAL TERM OF TWO YEARS PAST THE
INITIAL MATURITY DATE AND, IF BORROWER EXTENDS THE MATURITY DATE IN ACCORDANCE
WITH SECTION 2.3(B) HEREOF, FOR EACH EXTENDED MATURITY DATE, FOR TWO YEARS FROM
SUCH EXTENDED MATURITY DATE; AND
(XII)
UPON SIXTY (60) DAYS' WRITTEN NOTICE, SUCH
OTHER REASONABLE INSURANCE AND IN SUCH REASONABLE AMOUNTS 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 SUCH PROPERTY LOCATED
IN OR AROUND THE REGION IN WHICH SUCH