THE INFORMATION TO BE PROVIDED IN SUCH REPORT) AND TENANT
SHALL DELIVER TO LANDLORD AN OFFICER'S CERTIFICATE STATING THAT SUCH INSURANCE
OTHERWISE COMPLIES IN ALL MATERIAL RESPECTS WITH THE REQUIREMENTS OF THIS
SECTION 10.1.
(D)
TENANT WILL NOT TAKE OUT SEPARATE INSURANCE CONCURRENT IN FORM OR
CONTRIBUTING IN THE EVENT OF LOSS WITH THAT REQUIRED TO BE MAINTAINED PURSUANT
TO THIS SECTION 10.1 UNLESS SUCH INSURANCE COMPLIES WITH CLAUSE (C) ABOVE.
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(E)
TENANT SHALL NAME ANY PERSON HOLDING, SERVICING OR ADMINISTERING
LANDLORD'S DEBT AND REASONABLY DESIGNATED BY LANDLORD (INCLUDING ANY TRUSTEE,
SERVICER OR SPECIAL SERVICER) AS A LOSS PAYEE OR ADDITIONAL INSURED, AS
APPLICABLE, WITH RESPECT TO ANY POLICY UNDER WHICH LANDLORD'S LENDER IS TO BE SO
NAMED HEREUNDER.
10.2
Casualty; Application of Proceeds.
(A)
RIGHT TO ADJUST.
(I)
IF THE LEASED PROPERTY IS DAMAGED OR DESTROYED, IN WHOLE OR IN
PART, BY FIRE OR OTHER CASUALTY (A "CASUALTY"), TENANT SHALL GIVE PROMPT WRITTEN
NOTICE THEREOF TO LANDLORD GENERALLY DESCRIBING THE NATURE AND EXTENT OF SUCH
CASUALTY. SUBJECT TO SECTION 10.2(C), FOLLOWING THE OCCURRENCE OF A CASUALTY,
TENANT, USING ANY INSURANCE PROCEEDS AND OTHER AMOUNTS MADE AVAILABLE TO TENANT
PURSUANT TO SECTION 10.2(B) FOR RESTORATION, SHALL IN A REASONABLY PROMPT MANNER
PROCEED TO RESTORE, REPAIR, REPLACE OR REBUILD THE AFFECTED PORTION OF THE
LEASED PROPERTY (A "RESTORATION") TO THE EXTENT PRACTICABLE TO BE OF
SUBSTANTIALLY THE SAME CHARACTER AND QUALITY AS PRIOR TO THE CASUALTY. TENANT
SHALL RESTORE ALL IMPROVEMENTS SUCH THAT WHEN THEY ARE FULLY RESTORED AND/OR
REPAIRED, SUCH IMPROVEMENTS AND THEIR CONTEMPLATED USE FULLY COMPLY WITH ALL
APPLICABLE MATERIAL LEGAL REQUIREMENTS. LANDLORD MAY SETTLE AND ADJUST THE
INSURANCE CLAIM IN RESPECT OF ANY CASUALTY; PROVIDED THAT SUCH ADJUSTMENT IS
CARRIED OUT IN A REASONABLE AND TIMELY MANNER AND THAT TENANT SHALL BE ENTITLED,
AT ITS OWN EXPENSE, TO PARTICIPATE IN ANY SUCH ADJUSTMENT AND, UNLESS AN EVENT
OF DEFAULT SHALL HAVE OCCURRED AND BE CONTINUING, AND SUBJECT TO THE RIGHTS OF
LANDLORD'S LENDER UNDER LANDLORD'S LOAN DOCUMENTS, APPROVE SUCH ADJUSTMENT,
WHICH APPROVAL SHALL NOT BE UNREASONABLY WITHHELD, DELAYED OR CONDITIONED.
(B)
RIGHT TO AND APPLICATION OF PROCEEDS. SUBJECT TO THE TERMS AND
CONDITIONS OF LANDLORD'S LOAN DOCUMENTS, TENANT SHALL USE ALL PROCEEDS RECEIVED
FROM THE INSURANCE POLICIES THAT ARE REQUIRED TO BE MAINTAINED PURSUANT TO
SECTION 10.1 (BUT EXCLUDING PROCEEDS IN RESPECT OF TENANT'S PROPERTY) TO APPLY
TO THE COST OF THE RESTORATION AND FOR THE PAYMENT OF RENT DURING SUCH
RESTORATION; TENANT SHALL FUND AT ITS OWN EXPENSE AN AMOUNT EQUAL TO ANY
APPLICABLE DEDUCTIBLES OR OTHER SELF-RETAINED RISKS. IF TENANT SHALL HAVE
DEFAULTED UPON ITS OBLIGATION TO MAINTAIN INSURANCE IN THE AMOUNTS AND OF THE
TYPES REQUIRED UNDER THIS LEASE, AND SUCH DEFAULT RESULTS IN INSUFFICIENT
PROCEEDS TO RESTORE OR PAY RENT OWED TO LANDLORD, THEN TENANT SHALL FUND AT ITS
OWN EXPENSE THE AMOUNT OF SUCH INSUFFICIENCY. TENANT SHALL MAKE AVAILABLE TO
LANDLORD, FOR PAYMENT OF TENANT'S RENT OBLIGATIONS PAYABLE TO LANDLORD DURING
THE RESTORATION WHEN AND AS DUE, THE PROCEEDS OF TENANT'S