OF TWELVE (12) MONTHS
FROM THE DATE THAT THE 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 INSURANCE SHALL BE
INCREASED FROM TIME TO TIME DURING THE TERM AS AND WHEN THE ESTIMATED OR ACTUAL
RENTS INCREASE.
(E)
COMPREHENSIVE BOILER AND MACHINERY INSURANCE COVERING ALL
MECHANICAL AND ELECTRICAL EQUIPMENT AGAINST PHYSICAL DAMAGE, RENT LOSS AND
IMPROVEMENTS LOSS AND COVERING, WITHOUT LIMITATION, ALL TENANT IMPROVEMENTS AND
BETTERMENTS THAT BORROWER IS REQUIRED TO INSURE PURSUANT TO THE LEASE ON A
REPLACEMENT COST BASIS AND IN AN AMOUNT EQUAL TO THE LESSER OF (I) $2,000,000
AND (II) 100% OF THE FULL REPLACEMENT COST OF THE IMPROVEMENTS ON THE PROPERTY
(WITHOUT ANY DEDUCTION FOR DEPRECIATION).
(F)
WORKER'S COMPENSATION AND DISABILITY INSURANCE WITH RESPECT TO
ANY EMPLOYEES OF BORROWER, AS REQUIRED BY ANY LEGAL REQUIREMENT.
(G)
DURING ANY PERIOD OF REPAIR OR RESTORATION, BUILDER'S "ALL-RISK"
INSURANCE ON THE SO CALLED COMPLETED VALUE BASIS IN AN AMOUNT EQUAL TO NOT LESS
THAN THE FULL INSURABLE VALUE OF THE PROPERTY, AGAINST SUCH RISKS (INCLUDING
FIRE AND EXTENDED COVERAGE AND COLLAPSE OF THE IMPROVEMENTS TO AGREED LIMITS) AS
LENDER MAY REQUEST, IN FORM AND SUBSTANCE ACCEPTABLE TO LENDER.
(H)
COVERAGE TO COMPENSATE FOR ORDINANCE OF LAW, THE COST OF
DEMOLITION AND THE INCREASED COST OF CONSTRUCTION IN AN AMOUNT SATISFACTORY TO
LENDER, PROVIDED THAT IF THE PROPERTY IS A LEGAL CONFORMING USE AND BORROWER IS
PERMITTED AS OF RIGHT TO REBUILD THE PROPERTY TO BE OF AT LEAST EQUAL VALUE AND
OF SUBSTANTIALLY THE SAME CHARACTER, HEIGHT, AND DENSITY, ORDINANCE OF LAW
COVERAGE SHALL NOT BE REQUIRED HEREUNDER.
(I)
SUCH OTHER INSURANCE (INCLUDING ENVIRONMENTAL LIABILITY
INSURANCE, EARTHQUAKE INSURANCE, MINE SUBSIDENCE INSURANCE AND WINDSTORM
INSURANCE) AS MAY FROM TIME TO TIME BE REASONABLY REQUIRED BY LENDER IN ORDER TO
PROTECT ITS INTERESTS.
(J)
NOTWITHSTANDING ANYTHING IN SUBSECTION (A) ABOVE TO THE CONTRARY,
BORROWER SHALL BE REQUIRED TO OBTAIN AND MAINTAIN COVERAGE IN ITS PROPERTY
INSURANCE POLICY (OR BY A SEPARATE POLICY) AGAINST LOSS OR DAMAGE BY TERRORIST
ACTS IN AN AMOUNT EQUAL TO 100% OF THE "FULL REPLACEMENT COST" OF THE PROPERTY;
PROVIDED THAT SUCH COVERAGE IS AVAILABLE.
IN THE EVENT THAT SUCH COVERAGE WITH
RESPECT TO TERRORIST ACTS IS NOT INCLUDED AS PART OF THE "ALL RISK" PROPERTY
POLICY REQUIRED BY SUBSECTION (A) ABOVE, BORROWER SHALL, NEVERTHELESS BE
REQUIRED TO OBTAIN
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COVERAGE FOR TERRORISM (AS STAND ALONE COVERAGE) IN AN AMOUNT EQUAL TO 100% OF
THE "FULL REPLACEMENT COST" OF THE PROPERTY; PROVIDED THAT SUCH COVERAGE IS
AVAILABLE.
NOTWITHSTANDING THE FOREGOING, WITH RESPECT TO ANY SUCH STAND-ALONE
POLICY COVERING TERRORIST ACTS, BORROWER SHALL NOT BE REQUIRED TO PAY ANY
INSURANCE PREMIUMS SOLELY WITH RESPECT TO SUCH TERRORISM COVERAGE IN EXCESS OF
THE TERRORISM PREMIUM CAP (HEREINAFTER DEFINED); PROVIDED THAT IF THE INSURANCE
PREMIUMS PAYABLE WITH RESPECT TO SUCH TERRORISM COVERAGE EXCEEDS THE TERRORISM
PREMIUM CAP, LENDER MAY, AT ITS OPTION (1) PURCHASE SUCH STAND-ALONE