LOSS OF RENTS AND/OR BUSINESS INTERRUPTION INSURANCE REQUIRED
PURSUANT TO SUBSECTION 7.1(A)(III) ABOVE WITH A DEDUCTIBLE OF 5% OF THE TOTAL
INSURED VALUE;
(IX)
UMBRELLA
LIABILITY INSURANCE IN AN AMOUNT NOT LESS THAN $50,000,000 PER OCCURRENCE ON
TERMS CONSISTENT WITH THE COMMERCIAL GENERAL LIABILITY INSURANCE POLICY REQUIRED
UNDER SUBSECTION (II) ABOVE;
(X)
A BLANKET
FIDELITY BOND OR CRIME INSURANCE POLICY INSURING AGAINST LOSSES RESULTING FROM
DISHONEST OR FRAUDULENT ACTS COMMITTED BY (A) BORROWER'S PERSONNEL; (B) ANY
EMPLOYEES OF OUTSIDE FIRMS THAT PROVIDE APPRAISAL, LEGAL, DATA PROCESSING OR
OTHER SERVICES FOR BORROWER OR (C) TEMPORARY CONTRACT EMPLOYEES OR STUDENT
INTERNS;
(XI)
MOTOR VEHICLE
LIABILITY COVERAGE FOR ALL OWNED AND NON-OWNED VEHICLES, INCLUDING RENTED AND
LEASED VEHICLES CONTAINING MINIMUM LIMITS PER OCCURRENCE, INCLUDING UMBRELLA
COVERAGE, OF $1,000,000;
(XII)
SUCH INSURANCE
AS MAY BE REQUIRED PURSUANT TO THE TERMS OF THE PROPERTY DOCUMENTS, IF ANY;
(XIII)
AN ENVIRONMENTAL
INSURANCE POLICY IN THE AMOUNT OF $10,000,000 PER OCCURRENCE AND IN THE POLICY
AGGREGATE WITH A $100,000 DEDUCTIBLE AND PROVIDING POLLUTION LEGAL LIABILITY
APPLICABLE TO BODILY INJURY; PROPERTY DAMAGE, INCLUDING LOSS OF USE OF DAMAGED
PROPERTY OR OF PROPERTY THAT HAS NOT BEEN PHYSICALLY INJURED OR DESTROYED;
CLEANUP COSTS; AND DEFENSE, INCLUDING COSTS AND EXPENSES INCURRED IN THE
INVESTIGATION, DEFENSE, OR SETTLEMENT OF CLAIMS WHICH POLICY MUST (A) HAVE AN
EXPIRATION DATE NO EARLIER THAN THE MATURITY DATE AND (B) NAME ADMINISTRATIVE
AGENT AS AN ADDITIONAL INSURED BY A MORTGAGEE ASSIGNMENT ENDORSEMENT, IF THE
POLICY IS NOT RENEWED AFTER THE MATURITY DATE FOR A PERIOD OF AT LEAST 40
MONTHS, BORROWER MUST PURCHASE EXTENDED REPORTING PERIOD PRIOR TO THE POLICY
EXPIRATION DATE TO PROVIDE EXTENDED REPORTING FOR UP TO 40 MONTHS AFTER THE
MATURITY DATE; AND
(XIV)
SUCH OTHER
INSURANCE AND IN SUCH AMOUNTS AS ADMINISTRATIVE AGENT FROM TIME TO TIME MAY
REASONABLY REQUEST AGAINST SUCH OTHER INSURABLE HAZARDS WHICH AT THE TIME IS
COMMERCIALLY AVAILABLE AND ARE COMMONLY INSURED AGAINST BY OTHER SIMILAR OWNERS
OF SIMILAR PROPERTIES TO THE PROPERTY LOCATED IN OR AROUND THE REGION IN WHICH
THE PROPERTY IS LOCATED.
(B)
ALL INSURANCE PROVIDED FOR IN SUBSECTION 7.1(A) HEREOF SHALL
BE OBTAINED UNDER VALID AND ENFORCEABLE POLICIES (THE "POLICIES" OR IN THE
SINGULAR, THE "POLICY"), IN SUCH FORMS AND, FROM TIME TO TIME AFTER THE DATE
HEREOF, IN SUCH AMOUNTS AS MAY BE REASONABLY SATISFACTORY TO ADMINISTRATIVE
AGENT, ISSUED BY FINANCIALLY SOUND AND RESPONSIBLE INSURANCE COMPANIES ELIGIBLE
TO DO BUSINESS IN THE STATE IN WHICH THE PROPERTY IS LOCATED.
THE INSURANCE
COMPANIES MUST HAVE A GENERAL POLICY RATING OF A OR BETTER AND A FINANCIAL CLASS
OF X OR BETTER BY A.M. BEST COMPANY, INC., AND A CLAIMS PAYING ABILITY/FINANCIAL
STRENGTH RATING OF "A-" OR BETTER
79
by S&P, and each such insurer shall be referred to below as a "Qualified
Insurer") or by a syndicate of insurers pursuant to which (A) if more than one
(1) but less than five (5) insurance companies issue the policies required
hereunder, then at least seventy-five percent (75%) of the applicable insurance
coverages represented