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 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; AND
(D) IN AN ANNUAL AMOUNT EQUAL TO (100%) OF THE RENTS OR ESTIMATED GROSS REVENUES
FROM THE OPERATION OF THE PROPERTY (AS REDUCED TO REFLECT EXPENSES NOT INCURRED
DURING A PERIOD OF RESTORATION).
THE AMOUNT OF SUCH BUSINESS INCOME INSURANCE
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 THE
PROPERTY FOR THE SUCCEEDING TWELVE (12) MONTH PERIOD.
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 AND THE OTHER LOAN DOCUMENTS EXCEPT TO THE EXTENT SUCH
AMOUNTS ARE ACTUALLY PAID OUT OF THE PROCEEDS OF SUCH BUSINESS INCOME INSURANCE;
(IV)
AT ALL TIMES DURING WHICH STRUCTURAL
CONSTRUCTION, REPAIRS OR ALTERATIONS ARE BEING MADE WITH RESPECT TO THE
IMPROVEMENTS, AND ONLY IF THE PROPERTY COVERAGE FORM DOES NOT OTHERWISE APPLY,
(A) OWNER'S CONTINGENT OR PROTECTIVE LIABILITY INSURANCE COVERING CLAIMS NOT
COVERED BY OR UNDER THE TERMS OR PROVISIONS OF THE ABOVE MENTIONED COMMERCIAL
GENERAL LIABILITY INSURANCE POLICY; AND (B) THE INSURANCE PROVIDED FOR IN
SUBSECTION (I) ABOVE WRITTEN IN A SO-CALLED BUILDER'S RISK COMPLETED VALUE FORM
(1) ON A NON-REPORTING BASIS, (2) AGAINST ALL RISKS INSURED AGAINST PURSUANT TO
SUBSECTION (I) ABOVE, (3) INCLUDING PERMISSION TO OCCUPY THE PROPERTY, AND
(4) WITH AN AGREED AMOUNT ENDORSEMENT WAIVING CO-INSURANCE PROVISIONS;
(V)
WORKERS' COMPENSATION, SUBJECT TO THE
STATUTORY LIMITS OF THE STATE;
(VI)
COMPREHENSIVE BOILER AND MACHINERY INSURANCE,
IF APPLICABLE, IN AMOUNTS AS SHALL BE REASONABLY REQUIRED BY LENDER ON TERMS
CONSISTENT WITH THE COMMERCIAL PROPERTY INSURANCE POLICY REQUIRED UNDER
SUBSECTION (I) ABOVE;
(VII)
UMBRELLA LIABILITY INSURANCE IN AN AMOUNT NOT
LESS THAN FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) PER OCCURRENCE ON
TERMS CONSISTENT WITH THE COMMERCIAL GENERAL LIABILITY INSURANCE POLICY REQUIRED
UNDER SUBSECTION (II) ABOVE;
(VIII)
IF ANY OF THE POLICIES OF INSURANCE COVERING THE
RISKS REQUIRED TO BE COVERED UNDER SUBSECTIONS (I) THROUGH (VII) ABOVE CONTAINS
AN EXCLUSION FROM COVERAGE FOR ACTS OF TERRORISM, BORROWER SHALL OBTAIN AND
MAINTAIN A SEPARATE POLICY PROVIDING SUCH COVERAGES IN THE EVENT OF ANY ACT OF
TERRORISM, PROVIDED SUCH COVERAGE IS COMMERCIALLY AVAILABLE FOR PROPERTIES
SIMILAR TO THE PROPERTY AND LOCATED IN OR AROUND THE REGION IN WHICH THE
PROPERTY IS LOCATED. NOTWITHSTANDING THE FOREGOING, BORROWER SHALL NOT BE
REQUIRED TO OBTAIN SUCH A POLICY, PROVIDED (I)