SATISFACTORY TO LENDER
IN THE EVENT SUCH PROPERTY IS LOCATED IN AN AREA WITH A HIGH DEGREE OF SEISMIC
RISK, 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);
(II)
COMMERCIAL GENERAL LIABILITY INSURANCE
AGAINST CLAIMS FOR PERSONAL INJURY, BODILY INJURY, DEATH OR PROPERTY DAMAGE
OCCURRING UPON, IN OR ABOUT SUCH PROPERTY, INCLUDING "DRAM SHOP" OR OTHER LIQUOR
LIABILITY COVERAGE IF ALCOHOLIC BEVERAGES ARE SOLD FROM OR MAY BE CONSUMED AT
SUCH PROPERTY, WITH SUCH INSURANCE (A) TO BE ON THE SO-CALLED "OCCURRENCE" FORM
WITH A GENERAL AGGREGATE LIMIT OF NOT LESS THAN $2,000,000 AND A PER OCCURRENCE
LIMIT OF NOT LESS THAN $1,000,000; (B) TO CONTINUE AT NOT LESS THAN THE
AFORESAID LIMIT UNTIL REQUIRED TO BE CHANGED BY LENDER IN WRITING 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;
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(3) INDEPENDENT CONTRACTORS; (4) BLANKET CONTRACTUAL LIABILITY; AND (5)
CONTRACTUAL LIABILITY COVERING THE INDEMNITIES CONTAINED IN ARTICLE 12 AND
ARTICLE 14 HEREOF TO THE EXTENT THE SAME IS AVAILABLE;
(III)
LOSS OF RENTS INSURANCE OR BUSINESS INCOME
INSURANCE, AS APPLICABLE, (A) WITH LOSS PAYABLE TO LENDER; (B) COVERING ALL
RISKS REQUIRED TO BE COVERED BY THE INSURANCE PROVIDED FOR IN SUBSECTION (I)
ABOVE; AND (C) WHICH PROVIDES THAT AFTER THE PHYSICAL LOSS TO THE IMPROVEMENTS
AND PERSONAL PROPERTY OCCURS, THE LOSS OF RENTS OR INCOME, AS APPLICABLE, WILL
BE INSURED UNTIL COMPLETION OF RESTORATION OR THE EXPIRATION OF EIGHTEEN (18)
MONTHS, WHICHEVER FIRST OCCURS, AND NOTWITHSTANDING THAT THE POLICY MAY EXPIRE
PRIOR TO THE END OF SUCH PERIOD; AND (D) WHICH CONTAINS AN EXTENDED PERIOD OF
INDEMNITY ENDORSEMENT WHICH PROVIDES THAT AFTER THE PHYSICAL LOSS TO THE
IMPROVEMENTS AND PERSONAL PROPERTY HAS BEEN REPAIRED, THE CONTINUED LOSS OF
INCOME WILL BE INSURED UNTIL SUCH INCOME EITHER RETURNS TO THE SAME LEVEL IT WAS
AT PRIOR TO THE LOSS, OR THE EXPIRATION OF SIX (6) MONTHS FROM THE DATE THAT
SUCH PROPERTY IS REPAIRED OR REPLACED AND OPERATIONS ARE RESUMED, WHICHEVER
FIRST OCCURS, AND NOTWITHSTANDING THAT THE POLICY MAY EXPIRE PRIOR TO THE END OF
SUCH PERIOD.
THE AMOUNT OF SUCH LOSS OF RENTS OR BUSINESS INCOME INSURANCE, AS
APPLICABLE, SHALL BE DETERMINED PRIOR TO THE DATE HEREOF AND AT LEAST ONCE EACH
YEAR THEREAFTER BASED ON BORROWER'S REASONABLE ESTIMATE OF THE GROSS INCOME FROM
SUCH PROPERTY FOR THE SUCCEEDING PERIOD OF COVERAGE REQUIRED ABOVE.
ALL
PROCEEDS PAYABLE TO LENDER PURSUANT TO THIS SUBSECTION SHALL BE HELD BY LENDER
AND SHALL BE APPLIED TO THE OBLIGATIONS SECURED BY THE LOAN DOCUMENTS FROM TIME
TO TIME DUE AND PAYABLE HEREUNDER AND UNDER THE NOTE; PROVIDED, HOWEVER, THAT
NOTHING HEREIN CONTAINED SHALL BE DEEMED TO RELIEVE BORROWER OF ITS OBLIGATIONS
TO PAY THE OBLIGATIONS SECURED BY THE LOAN DOCUMENTS ON THE RESPECTIVE DATES OF
PAYMENT PROVIDED FOR IN THE NOTE, THIS