rights of the Lenders or the Agent.
7.4
Maintenance of Property; Inspection of Property.
(A)
FLEETWOOD SHALL, AND SHALL CAUSE EACH OF ITS SUBSIDIARIES TO,
MAINTAIN ALL OF ITS PROPERTY NECESSARY AND USEFUL IN THE CONDUCT OF ITS
BUSINESS, IN GOOD OPERATING CONDITION AND REPAIR, ORDINARY WEAR AND TEAR
EXCEPTED AND EXCEPT WHERE THE FAILURE TO MAINTAIN ANY SUCH PROPERTY WOULD NOT
REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT.
45
(B)
FLEETWOOD SHALL, AND SHALL CAUSE EACH OF THE LOAN PARTIES TO,
PERMIT REPRESENTATIVES AND INDEPENDENT CONTRACTORS OF THE AGENT (AT THE EXPENSE
OF THE BORROWERS AND NOT TO EXCEED TWO (2) TIMES PER YEAR UNLESS AN EVENT OF
DEFAULT HAS OCCURRED AND IS CONTINUING) TO VISIT AND INSPECT ANY OF ITS
PROPERTIES, TO EXAMINE ITS CORPORATE, FINANCIAL AND OPERATING RECORDS, AND MAKE
COPIES THEREOF OR ABSTRACTS THEREFROM AND TO DISCUSS ITS AFFAIRS, FINANCES AND
ACCOUNTS WITH ITS DIRECTORS, OFFICERS AND INDEPENDENT PUBLIC ACCOUNTANTS (AND,
IN THE CASE OF DISCUSSIONS WITH THE BORROWERS' ACCOUNTANTS, WITH THE BORROWERS
PRESENT), AT SUCH REASONABLE TIMES DURING NORMAL BUSINESS HOURS AND AS SOON AS
MAY BE REASONABLY DESIRED, UPON REASONABLE ADVANCE; PROVIDED, HOWEVER, THAT
REPRESENTATIVES AND INDEPENDENT CONTRACTORS OF EACH LENDER MAY, AT SUCH LENDER'S
OWN EXPENSE, ACCOMPANY THE AGENT'S REPRESENTATIVES AND INDEPENDENT CONTRACTORS
ON SUCH VISITS AND INSPECTIONS.
NOTWITHSTANDING THE FOREGOING, WHEN AN EVENT OF
DEFAULT EXISTS, THE AGENT OR ANY LENDER MAY DO ANY OF THE FOREGOING AT THE
EXPENSE OF THE BORROWERS AT ANY TIME DURING NORMAL BUSINESS HOURS AND WITHOUT
ADVANCE NOTICE.
7.5
Insurance.
(A)
FLEETWOOD SHALL MAINTAIN, AND SHALL CAUSE EACH OF ITS SUBSIDIARIES
TO MAINTAIN, WITH FINANCIALLY SOUND AND REPUTABLE INSURERS HAVING A RATING OF AT
LEAST A+ OR BETTER BY BEST RATING GUIDE, INSURANCE AGAINST LOSS OR DAMAGE BY
FIRE WITH EXTENDED COVERAGE; THEFT, BURGLARY, PILFERAGE AND LOSS IN TRANSIT;
PUBLIC LIABILITY AND THIRD PARTY PROPERTY DAMAGE; LARCENY, EMBEZZLEMENT OR OTHER
CRIMINAL LIABILITY; BUSINESS INTERRUPTION; PUBLIC LIABILITY AND THIRD PARTY
PROPERTY DAMAGE; AND SUCH OTHER HAZARDS OR OF SUCH OTHER TYPES AS IS CUSTOMARY
FOR PERSONS ENGAGED IN THE SAME OR SIMILAR BUSINESS, IN AMOUNTS CUSTOMARY FOR
PERSONS ENGAGED IN THE SAME OR SIMILAR BUSINESS, AND UNDER POLICIES ACCEPTABLE
TO THE AGENT AND THE MAJORITY LENDERS.
WITHOUT LIMITING THE FOREGOING, IN THE
EVENT THAT ANY IMPROVED REAL ESTATE COVERED BY THE MORTGAGES IS DETERMINED TO BE
LOCATED WITHIN AN AREA THAT HAS BEEN IDENTIFIED BY THE DIRECTOR OF THE FEDERAL
EMERGENCY MANAGEMENT AGENCY AS A SPECIAL FLOOD HAZARD AREA ("SFHA"), THE
APPLICABLE LOAN PARTY SHALL PURCHASE AND MAINTAIN FLOOD INSURANCE ON THE
IMPROVED REAL ESTATE AND ANY EQUIPMENT AND INVENTORY LOCATED ON SUCH REAL ESTATE
TO THE EXTENT REQUIRED BY APPLICABLE LAW.
THE AMOUNT OF SAID FLOOD INSURANCE
WILL BE REASONABLY DETERMINED BY THE AGENT, AND SHALL, AT A MINIMUM, COMPLY WITH
APPLICABLE FEDERAL REGULATIONS AS REQUIRED BY THE FLOOD DISASTER PROTECTION ACT
OF 1973, AS AMENDED.
EXCEPT AS OTHERWISE APPROVED BY THE AGENT, THE LOAN
PARTIES SHALL ALSO MAINTAIN FLOOD INSURANCE FOR ALL