COLLECTION ACCOUNT AND, IF APPLICABLE, THE RELEASE
ACCOUNT, TO THE EXTENT OF THE NET INVESTMENT EARNINGS, IF ANY, FOR EACH
COLLECTION PERIOD, SHALL BE DEPOSITED TO THE COLLECTION ACCOUNT AND ADDED TO THE
AVAILABLE AMOUNT FOR SUCH COLLECTION PERIOD. NOTWITHSTANDING THE INVESTMENT OF
FUNDS HELD IN THE COLLECTION ACCOUNT, FOR PURPOSES OF THE CALCULATIONS
HEREUNDER, INCLUDING THE CALCULATION OF THE AVAILABLE AMOUNT, THE AMOUNTS SO
INVESTED SHALL BE DEEMED TO REMAIN ON DEPOSIT IN THE COLLECTION ACCOUNT. EXCEPT
AS PROVIDED IN SECTION 5.03(A), THE PROPERTY MANAGER SHALL HAVE NO LIABILITY FOR
ANY INVESTMENT OF FUNDS IN THE COLLECTION ACCOUNT, THE RELEASE ACCOUNT OR
SERVICING ACCOUNT.
(G)
EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN
THIS AGREEMENT, IF ANY DEFAULT OCCURS IN THE MAKING OF A PAYMENT DUE UNDER ANY
PERMITTED INVESTMENT, OR IF A DEFAULT OCCURS IN ANY OTHER PERFORMANCE REQUIRED
UNDER ANY PERMITTED INVESTMENT, THE PROPERTY MANAGER MAY TAKE SUCH ACTION AS
MAY BE APPROPRIATE TO ENFORCE SUCH PAYMENT OR PERFORMANCE, INCLUDING THE
INSTITUTION AND PROSECUTION OF APPROPRIATE PROCEEDINGS.
Section 3.07.
Maintenance of Insurance
Policies; Errors and Omissions and Fidelity Coverage.
(A)
THE PROPERTY MANAGER (OTHER THAN WITH
RESPECT TO SPECIALLY SERVICED ASSETS) AND THE SPECIAL SERVICER (WITH RESPECT TO
SPECIALLY SERVICED ASSETS) SHALL USE REASONABLE EFFORTS IN ACCORDANCE WITH THE
SERVICING STANDARD TO CAUSE THE RELATED OBLIGOR TO MAINTAIN FOR EACH MORTGAGED
PROPERTY ALL INSURANCE COVERAGE AS IS REQUIRED UNDER THE TERMS OF SUCH LEASE OR
MORTGAGE LOAN, AS APPLICABLE (INCLUDING FOR THE AVOIDANCE OF DOUBT, ANY
ENVIRONMENTAL POLICY); PROVIDED, THAT IF AND TO THE EXTENT THAT ANY SUCH LEASE
PERMITS THE LESSOR THEREUNDER ANY DISCRETION (BY WAY OF CONSENT, APPROVAL OR
OTHERWISE) AS TO THE INSURANCE COVERAGE THAT THE RELATED OBLIGOR IS REQUIRED TO
MAINTAIN, THE PROPERTY MANAGER OR THE SPECIAL SERVICER, AS THE CASE MAY BE,
SHALL EXERCISE SUCH DISCRETION IN A MANNER CONSISTENT WITH THE SERVICING
STANDARD, WITH A VIEW TOWARDS REQUIRING INSURANCE COMPARABLE TO THAT REQUIRED
UNDER OTHER SIMILAR LEASES OR MORTGAGE LOANS WITH EXPRESS PROVISIONS GOVERNING
SUCH MATTERS; AND PROVIDED, FURTHER, THAT, IF AND TO THE EXTENT THAT A LEASE OR
MORTGAGE LOAN SO PERMITS, THE RELATED OBLIGOR SHALL BE REQUIRED TO OBTAIN THE
REQUIRED INSURANCE COVERAGE FROM QUALIFIED INSURERS THAT HAVE A CLAIMS-PAYING
ABILITY RATED AT LEAST "A:VIII" BY A.M. BEST'S KEY RATING GUIDE. IF SUCH OBLIGOR
DOES NOT MAINTAIN THE REQUIRED INSURANCE OR, WITH RESPECT TO ANY ENVIRONMENTAL
POLICY IN PLACE AS OF THE RELATED SERIES CLOSING DATE OR TRANSFER DATE, THE
PROPERTY MANAGER WILL ITSELF
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CAUSE SUCH INSURANCE TO BE MAINTAINED WITH QUALIFIED INSURERS; PROVIDED, THAT
THE PROPERTY MANAGER SHALL NOT BE REQUIRED TO MAINTAIN SUCH INSURANCE IF THE
INDENTURE TRUSTEE (AS MORTGAGEE OF RECORD ON BEHALF OF THE NOTEHOLDERS) DOES NOT
HAVE AN INSURABLE INTEREST OR THE PROPERTY MANAGER HAS DETERMINED (IN ITS
REASONABLE JUDGMENT IN ACCORDANCE WITH THE SERVICING STANDARD) THAT EITHER
(I) SUCH INSURANCE IS NOT AVAILABLE AT A COMMERCIALLY REASONABLE RATE AND THE
SUBJECT HAZARDS ARE AT THE TIME NOT COMMONLY INSURED AGAINST BY PRUDENT OWNERS