FROM THE TIME OF LOSS UNTIL ALL REPAIRS ARE FULLY
COMPLETED WITH REASONABLE DILIGENCE AND DISPATCH, PLUS AN EXTENDED PERIOD OF
INDEMNITY COMMENCING AT THE TIME REPAIRS ARE COMPLETED FOR A PERIOD OF NOT LESS
THAN 90 DAYS AND TO BE INCREASED OR DECREASED, AS REASONABLY REQUIRED BY AGENT;
PROVIDED, HOWEVER, THAT, WITH RESPECT TO THE INDIVIDUAL PROPERTIES COMMONLY KNOW
AS WACHOVIA CENTER TOWER AND WACHOVIA NBOC OP CENTER, SUCH INSURANCE SHALL COVER
LOSSES FOR AT LEAST A PERIOD OF 18 MONTHS AFTER THE DATE OF THE FIRE OR CASUALTY
IN QUESTION, PLUS AN EXTENDED PERIOD OF INDEMNITY COMMENCING AT THE TIME REPAIRS
ARE COMPLETED FOR A PERIOD OF NOT LESS THAN 180 DAYS.
FROM TIME TO TIME DURING
THE TERM OF THE LOAN IF, AND WHEN, THE GROSS REVENUES FROM THE LEASES OF THE
PROPERTY MATERIALLY INCREASE OR DECREASE, UPON ANNUAL RENEWAL OF THE INSURANCE
POLICY (INCLUDING, WITHOUT LIMITATION, INCREASES FROM NEW LEASES AND RENEWAL
LEASES ENTERED INTO IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT), TO REFLECT
ALL INCREASED RENT AND INCREASED ADDITIONAL RENT PAYABLE BY ALL OF THE LESSEES
UNDER SUCH RENEWAL LEASES AND ALL RENT AND ADDITIONAL RENT PAYABLE BY ALL OF THE
LESSEES WIDER SUCH NEW LEASES;
(D)
INSURANCE AGAINST LOSS OR DAMAGE FROM EXPLOSION OF STEAM BOILERS,
AIR CONDITIONING EQUIPMENT, HIGH PRESSURE PIPING, MACHINERY AND EQUIPMENT,
PRESSURE VESSELS OR SIMILAR APPARATUS NOW OR HEREAFTER INSTALLED IN THE
IMPROVEMENTS (WITHOUT EXCLUSION FOR EXPLOSIONS), COVERING ALL BOILERS OR OTHER
PRESSURE VESSELS, MACHINERY AND EQUIPMENT LOCATED IN, ON, OR ABOUT THE
IMPROVEMENTS; COVERAGE IS REQUIRED IN SUCH AMOUNT AS IS GENERALLY AVAILABLE AND
COMMONLY MAINTAINED FOR PROPERTIES SIMILAR TO THE PROPERTY AND SHALL EXTEND TO
89
ELECTRICAL EQUIPMENT, SPRINKLER SYSTEMS, HEATING AND AIR CONDITIONING EQUIPMENT,
REFRIGERATION EQUIPMENT AND PIPING;
(E)
WORKER'S COMPENSATION INSURANCE COVERAGE FOR ALL PERSONS EMPLOYED
BY BORROWER OR ITS TENANTS AT THE PROPERTY AND IN COMPLIANCE WITH ALL OTHER
REQUIREMENTS OF APPLICABLE LOCAL, STATE AND FEDERAL LAW AND "EMPLOYERS
LIABILITY" INSURANCE IN AMOUNTS NOT LESS THAN $500,000;
(F)
DURING ANY PERIOD OF REPAIR OR RESTORATION, BUILDER'S "ALL-RISK"
INSURANCE OR ITS EQUIVALENT IN AN AMOUNT EQUAL TO NOT LESS THAN THE FULL
INSURABLE VALUE OF THE CONSTRUCTION COSTS AGAINST SUCH RISKS (INCLUDING, WITHOUT
LIMITATION, FIRE AND EXTENDED COVERAGE AND COLLAPSE OF THE IMPROVEMENTS TO
AGREED LIMITS) AS AGENT MAY REQUEST, IN FORM AND SUBSTANCE ACCEPTABLE TO AGENT;
(G)
ORDINANCE OR LAW COVERAGE TO COMPENSATE FOR THE COST OF DEMOLITION,
INCREASED COST OF CONSTRUCTION (IN AMOUNTS ACCEPTABLE TO AGENT), AND LOSS TO ANY
UNDAMAGED PORTIONS OF THE IMPROVEMENTS, IF THE CURRENT USE OF THE PROPERTY OR
THE IMPROVEMENTS THEMSELVES ARE OR BECOME "NONCONFORMING" PURSUANT TO THE
APPLICABLE ZONING REGULATIONS, OR FULL REBUILDABILITY FOLLOWING CASUALTY IS
OTHERWISE NOT PERMITTED UNDER SUCH ZONING REGULATIONS;
(H)
IF REQUIRED BY AGENT AS A RESULT OF THE PROPERTY BEING LOCATED IN AN
AREA WITH A HIGH DEGREE OF SEISMIC ACTIVITY, EARTHQUAKE DAMAGE INSURANCE IN A
REASONABLE AMOUNT AND FORM ACCEPTABLE TO AGENT AND COMMERCIALLY AVAILABLE; AND
(I)
SUCH OTHER INSURANCE