($250,000.00) FOR ALL SUCH INSURANCE COVERAGE; AND
(D) INCLUDING CONTINGENT LIABILITY FROM THE OPERATION OF BUILDING LAWS OR
DEMOLITION COSTS AND INCREASED COST OF CONSTRUCTION ENDORSEMENTS (IN EITHER
CASE, "D&ICC ENDORSEMENT"), IN THE CASE OF COVERAGE PARTS B AND C OF THE D&ICC
ENDORSEMENT, WITH A SUBLIMIT OF NOT LESS THAN TWENTY FIVE MILLION
52
AND NO/100 DOLLARS ($25,000,000.00). IN ADDITION, BORROWER SHALL OBTAIN: (Y) IF
ANY PORTION OF THE IMPROVEMENTS IS CURRENTLY OR AT ANY TIME IN THE FUTURE
LOCATED IN A FEDERALLY DESIGNATED "SPECIAL FLOOD HAZARD AREA," FLOOD HAZARD
INSURANCE IN AN AMOUNT EQUAL TO THE LESSER OF (1) THE AGGREGATE OUTSTANDING
PRINCIPAL BALANCE OF THE LOAN OR (2) THE MAXIMUM AMOUNT OF SUCH INSURANCE
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, AS
EACH MAY BE AMENDED OR SUCH GREATER AMOUNT AS LENDER SHALL REQUIRE; AND (Z)
EARTHQUAKE INSURANCE IN AMOUNTS AND IN FORM AND SUBSTANCE SATISFACTORY TO LENDER
IN THE EVENT THE PROPERTY IS LOCATED IN AN AREA WITH A HIGH DEGREE OF SEISMIC
ACTIVITY, PROVIDED THAT THE INSURANCE PURSUANT TO CLAUSES (Y) AND (Z) HEREOF
SHALL BE ON TERMS CONSISTENT WITH THE COMPREHENSIVE ALL RISK INSURANCE POLICY
REQUIRED UNDER THIS SUBSECTION (I) AND SHALL BE COMMERCIALLY AVAILABLE AT A
REASONABLE COST;
(II)
COMMERCIAL GENERAL LIABILITY INSURANCE AGAINST CLAIMS FOR
PERSONAL INJURY, BODILY INJURY, DEATH OR PROPERTY DAMAGE OCCURRING UPON, IN OR
ABOUT THE PROPERTY, SUCH INSURANCE (A) TO BE ON THE SO-CALLED "OCCURRENCE" FORM
WITH A COMBINED LIMIT, EXCLUDING UMBRELLA COVERAGE, OF NOT LESS THAN ONE MILLION
AND NO/100 DOLLARS ($1,000,000.00) PER OCCURRENCE AND TWO MILLION AND NO/100
DOLLARS ($2,000,000.00) IN THE AGGREGATE; (B) TO CONTINUE AT NOT LESS THAN THE
AFORESAID LIMIT UNTIL REQUIRED TO BE CHANGED BY LENDER 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 LEGAL CONTRACTS; AND (5) CONTRACTUAL LIABILITY
COVERING THE INDEMNITIES CONTAINED IN ARTICLE 9 OF THE MORTGAGE TO THE EXTENT
THE SAME IS AVAILABLE;
(III)
BUSINESS OR RENTAL INCOME INSURANCE WITH A LIMIT OF INSURANCE
ADEQUATE TO COVER A LOSS OF BUSINESS OR RENTAL INCOME FOR A PERIOD OF EIGHTEEN
(18) MONTHS INCLUSIVE OF THE EXTENDED PERIOD OF INDEMNITY REQUIRED BELOW (A)
WITH LOSS PAYABLE TO LENDER UNDER A LENDER LOSS PAYABLE OR STANDARD MORTGAGEE
ENDORSEMENT SATISFACTORY TO LENDER; (B) COVERING ALL RISKS REQUIRED TO BE
COVERED BY THE INSURANCE PROVIDED FOR IN SUBSECTION (I) ABOVE AND SUBSECTIONS
(VI) AND (XI) BELOW FOR A PERIOD COMMENCING AT THE TIME OF LOSS FOR SUCH LENGTH
OF TIME (NOT EXCEEDING TWELVE (12) MONTHS) AS IT TAKES TO REPAIR OR REPLACE WITH
THE EXERCISE OF DUE DILIGENCE AND DISPATCH; (C) CONTAINING AN EXTENDED PERIOD OF
INDEMNITY ENDORSEMENT WHICH PROVIDES THAT AFTER THE PHYSICAL LOSS TO THE
IMPROVEMENTS AND PERSONAL