OR PROPERTY, OR COMMISSION OF AN ACT DANGEROUS TO HUMAN LIFE OR PROPERTY,
UNDERTAKEN BY ANY PERSON OR GROUP, WHETHER OR NOT ACTING ON BEHALF OF OR IN
CONNECTION WITH ANY ORGANIZATION, GOVERNMENT, POWER, AUTHORITY OR MILITARY
FORCE, WHEN THE EFFECT IS TO INTIMIDATE, HARM OR COERCE A GOVERNMENT, THE
CIVILIAN POPULATION OR ANY SEGMENT THEREFORE, OR TO DISRUPT ANY SEGMENT OF THE
ECONOMY.
TERRORISM SHALL ALSO INCLUDE ANY ACT WHICH IS VERIFIED OR RECOGNIZED
BY THE UNITED STATES GOVERNMENT AS AN ACT OF TERRORISM.
(V)
IF APPLICABLE, INSURANCE COVERING THE DECREASE OR DIMINUTION IN
VALUE OF THE CONDOMINIUM RESULTING FROM THE ENFORCEMENT OF ANY LAW, BUILDING
CODE, ZONING REGULATION OR OTHER LEGAL REQUIREMENT OR ACT OF ANY GOVERNMENTAL
AUTHORITY TO THE EXTENT THAT THE CONDOMINIUM BUILDING CORE AND SHELL CANNOT
LEGALLY BE RESTORED TO A CONDITION THAT EXISTED PRIOR TO THE CASUALTY (WHICH
10
INSURANCE SHALL BE IN AN AMOUNT ACCEPTABLE TO LENDER IN ITS SOLE DISCRETION),
PROVIDED
THAT SUCH INSURANCE IS AVAILABLE TO THE CONDOMINIUM ASSOCIATION ON
COMMERCIALLY REASONABLE TERMS.
(VI)
SUCH OTHER TYPES AND AMOUNTS OF INSURANCE WITH RESPECT TO THE
PROPERTY AND THE OPERATION THEREOF WHICH ARE CUSTOMARILY MAINTAINED IN THE CASE
OF OTHER PROPERTY AND BUILDINGS SIMILAR TO THE PROPERTY IN NATURE, USE,
LOCATION, HEIGHT AND TYPE OF CONSTRUCTION AS MAY FROM TIME TO TIME BE REASONABLY
REQUIRED BY LENDER.
(C)
ALL INSURANCE PROVIDED FOR IN SECTIONS 6.1.1(A) AND (B)
HEREOF SHALL BE OBTAINED UNDER VALID AND ENFORCEABLE POLICIES (COLLECTIVELY, THE
"CONDOMINIUM POLICIES").
PRIOR TO THE EXPIRATION DATES OF THE CONDOMINIUM
POLICIES THERETOFORE FURNISHED TO LENDER, CERTIFICATES OF INSURANCE EVIDENCING
RENEWAL OF THE CONDOMINIUM POLICIES ACCOMPANIED BY EVIDENCE SATISFACTORY TO
LENDER OF PAYMENT OF THE PREMIUMS DUE THEREUNDER (THE "INSURANCE PREMIUMS"),
SHALL BE DELIVERED OR CAUSED TO BE DELIVERED BY BORROWER TO LENDER.
(D)
BORROWER, AT ITS SOLE COST AND EXPENSE, IF REQUIRED BY
LENDER AND IF SUCH INSURANCE IS NOT PROVIDED BY THE CONDOMINIUM POLICIES AND
ENDORSED TO INCLUDE THE INTERESTS OF BORROWER (AS A NAMED INSURED) AND ITS
LENDER (AS AN ADDITIONAL INSURED), SHALL OBTAIN AND MAINTAIN DURING THE ENTIRE
TERM, OR CAUSE TO BE OBTAINED AND MAINTAINED, INSURANCE POLICIES FOR THE
PROPERTY PROVIDING AT LEAST THE FOLLOWING LIABILITY INSURANCE COVERAGES:
(I)
COMMERCIAL GENERAL LIABILITY INSURANCE WITH NO EXCLUSION FOR
TERRORISM APPLICABLE TO CLAIMS FOR PERSONAL INJURY AND/OR BODILY INJURY
INCLUDING DEATH OR PROPERTY DAMAGE OCCURRING UPON, IN OR ABOUT THE PROPERTY;
OCCURRING AS A RESULT OF THE CONSTRUCTION AND USE AND OCCUPANCY OF FACILITIES
LOCATED AT OR ON THE PROPERTY; OR AS A RESULT OF CONSTRUCTION THEREOF.
COVERAGE
SHALL BE PROVIDED ON AN OCCURRENCE BASIS PURSUANT TO THE ISO COMMERCIAL GENERAL
LIABILITY COVERAGE FORM (CG 00 01) OR ITS EQUIVALENT, AND FOR PERSONAL AND/OR
BODILY INJURY OR PROPERTY DAMAGE AS NOW ARE OR HEREAFTER INCORPORATED INTO SUCH
FORM AND ITS ENDORSEMENTS.
SUCH COVERAGE SHALL BE IN AMOUNTS OF NOT LESS THAN
(A) $1,000,000 PER OCCURRENCE FOR BODILY INJURY AND PROPERTY DAMAGE COMBINED,
(B) $1,000,000 PER OCCURRENCE FOR PERSONAL & ADVERTISING INJURY,