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) BORROWER CONFIRMS TO LENDER, IN WRITING, THAT IT SHALL
PROTECT AND HOLD LENDER HARMLESS FROM ANY LOSSES ASSOCIATED WITH SUCH RISKS BY,
AMONG OTHER THINGS, EITHER (A) DEPOSITING WITH LENDER SUMS SUFFICIENT TO PAY FOR
ALL UNINSURED COSTS RELATED TO A RESTORATION OF THE PROPERTY FOLLOWING ANY ACT
OF TERRORISM (WHICH SUM SHALL BE TREATED AS A NET PROCEEDS DEFICIENCY), OR (B)
PROVIDED SUCH ACT OF TERRORISM OCCURS ON OR AFTER THE PERMITTED PREPAYMENT DATE,
PREPAYING THE LOAN IN ACCORDANCE WITH THE TERMS HEREOF; (II) INLAND AMERICAN
REAL ESTATE TRUST, INC. ("TERRORISM INSURANCE GUARANTOR") EXECUTES A GUARANTY,
IN FORM AND SUBSTANCE SATISFACTORY TO LENDER, GUARANTEEING IN THE EVENT OF ANY
ACT OF TERRORISM, PAYMENT TO LENDER OF ANY SUMS THAT BORROWER IS OBLIGATED TO
PAY TO LENDER UNDER CLAUSE (I) ABOVE (WHICH SHALL BE APPLIED IN ACCORDANCE WITH
SECTION 6.4 HEREOF) AND (III) TERRORISM INSURANCE GUARANTOR MAINTAINS A NET
WORTH OF AT LEAST $400,000,000 (AS DETERMINED BY SUCH ENTITY'S MOST RECENT
AUDITED FINANCIAL STATEMENTS), SUCH ENTITY MAINTAINS A DIRECT OR INDIRECT
OWNERSHIP INTEREST IN BORROWER, AND THE AGGREGATE LOAN TO VALUE RATIO (AS
DETERMINED BY LENDER) ("LTV") FOR ALL PROPERTIES ON WHICH SUCH ENTITY HAS A
DIRECT OR INDIRECT OWNERSHIP INTEREST SHALL NOT EXCEED 55%, HOWEVER, TERRORISM
INSURANCE GUARANTOR MAY EXCEED THE 55% LTV FOR A PERIOD NOT TO EXCEED SIX (6)
MONTHS OUT OF ANY TWELVE (12) MONTH PERIOD EITHER 1) DURING THE TIME PERIOD WHEN
TERRORISM INSURANCE GUARANTOR IS OFFERING SECURITIES TO THE PUBLIC,
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OR 2) WHEN IN THE BUSINESS JUDGMENT OF TERRORISM INSURANCE GUARANTOR, EXCEEDING
AN LTV OF 55% IS NECESSARY GIVEN EXISTING CIRCUMSTANCES OF THE CREDIT
ENVIRONMENT, BUT IN NO EVENT SHALL THE LTV EXCEED 70%.
(X)
UPON SIXTY (60) DAYS' WRITTEN NOTICE, SUCH OTHER REASONABLE
INSURANCE AND IN SUCH REASONABLE AMOUNTS AS LENDER FROM TIME TO TIME MAY
REASONABLY REQUEST AGAINST SUCH OTHER INSURABLE HAZARDS WHICH AT THE TIME ARE
COMMONLY INSURED AGAINST FOR PROPERTY SIMILAR TO THE PROPERTY LOCATED IN OR
AROUND THE REGION IN WHICH THE PROPERTY IS LOCATED.
(B)
ALL INSURANCE PROVIDED FOR IN SECTION 6.1(A) SHALL BE OBTAINED
UNDER VALID AND ENFORCEABLE POLICIES (COLLECTIVELY, THE "POLICIES" OR IN THE
SINGULAR, THE "POLICY"), AND SHALL BE SUBJECT TO THE APPROVAL OF LENDER AS TO
INSURANCE COMPANIES, AMOUNTS, DEDUCTIBLES, LOSS PAYEES AND INSUREDS. THE
POLICIES SHALL BE ISSUED BY FINANCIALLY SOUND AND RESPONSIBLE INSURANCE
COMPANIES AUTHORIZED TO DO BUSINESS IN THE STATE AND HAVING A RATING OF "A:X" OR
BETTER IN THE CURRENT BEST'S INSURANCE REPORTS AND A CLAIMS PAYING ABILITY
RATING OF "AA" OR BETTER BY AT LEAST TWO (2) OF THE RATING AGENCIES INCLUDING,
(I) STANDARD & POOR'S RATINGS GROUP, AND (II) MOODY'S INVESTORS SERVICES, INC.
IF MOODY'S INVESTORS SERVICE, INC. IS RATING THE SECURITIES. THE POLICIES
DESCRIBED IN SECTION 6.1 (OTHER THAN THOSE STRICTLY LIMITED TO LIABILITY
PROTECTION) SHALL DESIGNATE