INSURANCE AGAINST EMPLOYEE DISHONESTY IN AN AMOUNT NOT LESS THAN
ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) AND WITH A DEDUCTIBLE NOT GREATER
THAN TWENTY FIVE THOUSAND AND NO/100 DOLLARS ($25,000.00);
(XI)
IF AT ANY TIME DURING THE TERM OF THE LOAN THE COMMERCIAL
PROPERTY AND BUSINESS INCOME INSURANCE POLICIES REQUIRED UNDER SUBSECTIONS (I)
AND (III) ABOVE DO NOT COVER PERILS OF TERRORISM OR ACTS OF TERRORISM, OR OTHER
SIMILAR ACTS OR EVENTS, BORROWER SHALL OBTAIN AN ENDORSEMENT TO SUCH POLICY, OR
A SEPARATE POLICY FROM AN INSURANCE PROVIDER WHICH MAINTAINS AT LEAST AN
INVESTMENT GRADE RATING, INSURING AGAINST ALL LOSS RESULTING FROM PERILS AND
ACTS OF TERRORISM AND "FIRE FOLLOWING", TO THE EXTENT SUCH POLICY OR ENDORSEMENT
IS AVAILABLE, IN AN AMOUNT DETERMINED BY LENDER IN ITS SOLE DISCRETION (BUT IN
NO EVENT MORE THAN AN AMOUNT EQUAL TO THE SUM OF ONE HUNDRED PERCENT (100%) OF
THE CONSTRUCTION COSTS ASSOCIATED WITH THE RECONSTRUCTION OF THE IMPROVEMENTS
AND A MINIMUM OF EIGHTEEN (18) MONTHS OF BUSINESS OR RENTAL INTERRUPTION
INSURANCE (INCLUSIVE OF SIX (6) MONTHS EXTENDED PERIOD OF INDEMNITY) (THE
"TERRORISM COVERAGE AMOUNT")); PROVIDED, HOWEVER, IF TRIA IS NO LONGER IN
EFFECT, THE TOTAL
54
ANNUAL PREMIUM PAYABLE BY BORROWER FOR SUCH TERRORISM COVERAGE SHALL NOT EXCEED
AN AMOUNT EQUAL TO ONE HUNDRED SEVENTY-FIVE PERCENT (175%) OF THE RESULT OF
(X) THE ANNUAL PREMIUM FOR "ALL-RISK" OR SPECIAL PERILS PROPERTY INSURANCE
COVERAGE AS OF THE DATE HEREOF MINUS (Y) THE PORTION OF SUCH ANNUAL PREMIUM
ATTRIBUTABLE TO TERRORISM COVERAGE. THE ENDORSEMENT OR POLICY SHALL BE IN FORM
AND SUBSTANCE REASONABLY SATISFACTORY TO LENDER AND SHALL MEET RATING AGENCY
CRITERIA FOR SECURITIZED LOANS; AND
(XII)
UPON SIXTY (60) DAYS' 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 5.1.1(A) SHALL BE OBTAINED
UNDER VALID AND ENFORCEABLE POLICIES (COLLECTIVELY, THE "POLICIES" OR, IN THE
SINGULAR, THE "POLICY") AND, TO THE EXTENT NOT SPECIFIED ABOVE, SHALL BE SUBJECT
TO THE REASONABLE APPROVAL OF LENDER AS TO DEDUCTIBLES, LOSS PAYEES AND
INSUREDS. NOT LESS THAN TEN (10) DAYS PRIOR TO THE EXPIRATION DATES OF THE
POLICIES THERETOFORE FURNISHED TO LENDER, OR AS SOON AS AVAILABLE, BUT IN NO
EVENT LATER THAN SEVEN (7) DAYS FOLLOWING SUCH DATE OF EXPIRATION, CERTIFICATES
OF INSURANCE EVIDENCING THE POLICIES ACCOMPANIED BY EVIDENCE SATISFACTORY TO
LENDER OF PAYMENT OF THE PREMIUMS THEN DUE THEREUNDER (THE "INSURANCE
PREMIUMS"), SHALL BE DELIVERED BY BORROWER TO LENDER; PROVIDED, HOWEVER, THAT
BORROWER IS NOT REQUIRED TO FURNISH RECEIPTS FOR PAYMENT OF INSURANCE PREMIUMS
IN THE EVENT THAT SUCH INSURANCE PREMIUMS ARE PAYABLE BY LENDER PURSUANT TO
SECTION 6.3 HEREOF AND SUFFICIENT FUNDS HAVE BEEN DEPOSITED WITH LENDER FOR THE
PAYMENT THEREOF IN THE MANNER REQUIRED BY SECTION 6.3.
(C)
ANY BLANKET INSURANCE POLICY SHALL