FOLLOWING HAZARDS:
(1) PREMISES AND OPERATIONS; (2) PRODUCTS AND COMPLETED OPERATIONS ON AN "IF
ANY" BASIS; (3) INDEPENDENT CONTRACTORS; (4) BLANKET CONTRACTUAL LIABILITY FOR
ALL WRITTEN AND ORAL CONTRACTS; AND (5) CONTRACTUAL LIABILITY COVERING THE
INDEMNITIES CONTAINED IN THE SECURITY INSTRUMENTS TO THE EXTENT THE SAME IS
AVAILABLE;
(IV)
IF AND TO THE EXTENT NOT COVERED BY THE
INSURANCE REQUIRED TO BE MAINTAINED PURSUANT TO SECTION 6.1(A)(I) AND SECTION
6.1(A)(III) HEREOF, AT ALL TIMES DURING WHICH STRUCTURAL CONSTRUCTION, REPAIRS
OR ALTERATIONS ARE BEING MADE WITH RESPECT TO THE IMPROVEMENTS (A) OWNER'S
CONTINGENT LIABILITY INSURANCE OR ITS EQUIVALENT COVERING CLAIMS NOT COVERED BY
OR UNDER THE TERMS OR PROVISIONS OF THE COMMERCIAL GENERAL LIABILITY INSURANCE
PROVIDED FOR IN SECTION 6.1(A)(III) HEREOF; AND (B) THE INSURANCE PROVIDED FOR
IN SECTION 6.1(A)(I) HEREOF SHALL BE WRITTEN IN A SO CALLED BUILDER'S RISK
COMPLETED VALUE FORM (1) ON A NON-REPORTING BASIS, (2)
117
AGAINST ALL RISKS INSURED AGAINST PURSUANT TO SECTION 6.1(A)(I) HEREOF, (3)
SHALL INCLUDE PERMISSION TO OCCUPY THE APPLICABLE INDIVIDUAL PROPERTY, AND (4)
SHALL CONTAIN AN AGREED AMOUNT ENDORSEMENT WAIVING CO INSURANCE PROVISIONS;
(V)
WORKERS' COMPENSATION, SUBJECT TO THE
STATUTORY LIMITS OF THE STATE(S) IN WHICH EACH INDIVIDUAL PROPERTY IS LOCATED,
AND EMPLOYER'S LIABILITY INSURANCE WITH A LIMIT OF AT LEAST $2,000,000 PER
ACCIDENT AND PER DISEASE PER EMPLOYEE, AND $2,000,000 FOR DISEASE IN THE
AGGREGATE IN RESPECT OF ANY WORK OR OPERATIONS ON OR ABOUT ANY INDIVIDUAL
PROPERTY, OR IN CONNECTION WITH SUCH INDIVIDUAL PROPERTY OR ITS OPERATION (IF
APPLICABLE);
(VI)
COMPREHENSIVE BOILER AND MACHINERY INSURANCE,
IF APPLICABLE, IN SUCH AMOUNTS AS SHALL BE REASONABLY REQUIRED BY LENDER
(PROVIDED SUCH INSURANCE IN SUCH AMOUNTS IS GENERALLY AVAILABLE AT COMMERCIALLY
REASONABLE PREMIUMS AND IS GENERALLY REQUIRED BY INSTITUTIONAL LENDERS FOR
PROPERTIES COMPARABLE TO THE PROPERTIES), ON TERMS CONSISTENT WITH THE
COMMERCIAL PROPERTY INSURANCE POLICY REQUIRED UNDER SECTION 6.1(A)(I) HEREOF;
(VII)
IF ANY PORTION OF THE IMPROVEMENTS ON ANY
INDIVIDUAL PROPERTY IS AT ANY TIME LOCATED IN AN AREA IDENTIFIED BY THE
SECRETARY OF HOUSING AND URBAN DEVELOPMENT OR ANY SUCCESSOR THERETO AS AN AREA
HAVING SPECIAL FLOOD HAZARDS PURSUANT TO THE NATIONAL FLOOD INSURANCE ACT OF
1968, THE FLOOD DISASTER PROTECTION ACT OF 1973 OR THE NATIONAL FLOOD INSURANCE
REFORM ACT OF 1994, AS EACH MAY BE AMENDED, OR ANY SUCCESSOR LAW (THE "FLOOD
INSURANCE ACTS"), FLOOD HAZARD INSURANCE OF THE FOLLOWING TYPES AND IN THE
FOLLOWING AMOUNTS: (A) COVERAGE UNDER POLICIES ISSUED PURSUANT TO THE FLOOD
INSURANCE ACTS (THE "FLOOD INSURANCE POLICIES") IN AN AMOUNT EQUAL TO THE
MAXIMUM LIMIT OF COVERAGE AVAILABLE FOR SUCH INDIVIDUAL PROPERTY UNDER THE FLOOD
INSURANCE ACTS, SUBJECT ONLY TO CUSTOMARY DEDUCTIBLES UNDER SUCH POLICIES AND
(B) COVERAGE UNDER SUPPLEMENTAL PRIVATE POLICIES IN AN AMOUNT, WHICH WHEN ADDED
TO THE COVERAGE PROVIDED UNDER THE FLOOD INSURANCE POLICIES WITH RESPECT TO SUCH
INDIVIDUAL PROPERTY, IS NOT LESS THE AGGREGATE AMOUNT OF THE LOAN, THE MORTGAGE
LOAN AND THE MEZZANINE B LOAN (PROVIDED SUCH PRIVATE FLOOD HAZARD INSURANCE IS
GENERALLY AVAILABLE AT REASONABLE PREMIUMS AND IS GENERALLY