BY APPLICABLE LAWS.
(E)
BUSINESS INTERRUPTION. UPON LENDER'S
REASONABLE REQUEST, BUSINESS INCOME AND EXTRA EXPENSE INSURANCE, AGAINST THE
PERILS INSURED BY THE ALL RISK INSURANCE, FOR A PERIOD OF INDEMNITY OF TWELVE
MONTHS.
(F)
DRAM SHOP. UPON LENDER'S REASONABLE REQUEST OR PRIOR TO ANY
TENANT SELLING ALCOHOLIC BEVERAGES ON ANY PART OF THE PROPERTY, BORROWER EITHER
ITSELF OR THROUGH THE TENANT SHALL PROVIDE EVIDENCE OF SO-CALLED "DRAM SHOP"
INSURANCE AGAINST CLAIMS OR LIABILITIES ARISING DIRECTLY OR INDIRECTLY TO
PERSONS OR PROPERTY ON ACCOUNT OF THE SALE OR DISPENSING OF ALCOHOLIC
BEVERAGES.
COVERAGE SHALL INCLUDE LOSS OF MEANS OF SUPPORT.
LIMITS SHALL EQUAL
THOSE LIMITS AS MAY BE REQUIRED BY APPLICABLE LAWS OR AS LENDER MAY REASONABLY
SPECIFY.
IF STATE LAW ALLOWS, LENDER SHALL BE NAMED AS AN ADDITIONAL INSURED ON
SUCH POLICY.
(G)
OTHER. SUCH OTHER INSURANCES AS MAY BE REASONABLY REQUESTED BY
LENDER.
SECTION 7.8.2
POLICY REQUIREMENTS.
(A)
ALL INSURANCE POLICIES SHALL BE ISSUED BY AN INSURER OR INSURERS
WITH AN A.M. BEST RATING OF A:IX OR BETTER OR A STANDARD AND POOR'S RATING OF
"AA", OR EQUIVALENT RATING FROM ANOTHER AGENCY ACCEPTABLE TO LENDER AND BE
AUTHORIZED IN THE STATE WHERE THE PROPERTY IS LOCATED.
ALL INSURANCE ACQUIRED
PURSUANT TO THIS AGREEMENT SHALL BE IN FORM, AMOUNTS AND WITH COVERAGE AND
DEDUCTIBLES SATISFACTORY TO LENDER, IN LENDER'S SOLE DISCRETION.
(B)
THE ALL RISK INSURANCE REQUIRED PURSUANT TO
SECTION 7.8.1(A) AND (B) SHALL NAME BORROWER AS THE INSURED AND SHALL ALSO NAME
LENDER AS LOSS PAYEE AND MORTGAGEE, UNDER A NON-CONTRIBUTING STANDARD MORTGAGEE
CLAUSE.
WITHOUT LENDER'S PRIOR WRITTEN CONSENT, BORROWER SHALL NOT NAME ANY
PERSON OTHER THAN LENDER AS LOSS PAYEE UNDER ANY PROPERTY INSURANCE POLICIES
THAT BORROWER IS REQUIRED TO INSURE PURSUANT TO ANY LEASE.
26
(C)
THE COMMERCIAL GENERAL LIABILITY, AUTO
LIABILITY AND "DRAM SHOP" INSURANCE SET FORTH IN SECTIONS 7.8.1(C) AND (F),
SHALL NAME LENDER, ITS DIRECTORS, OFFICERS AND EMPLOYEES AS AN ADDITIONAL
INSURED.
(D)
THE AMOUNT OF ANY DEDUCTIBLE UNDER ANY
INSURANCE POLICY MUST BE REASONABLY ACCEPTABLE TO LENDER.
(E)
BORROWER MAY PROVIDE REQUIRED INSURANCE
UNDER BLANKET POLICIES.
BORROWER SHALL NOT MAINTAIN ANY INSURANCE ON THE
PROPERTY THAT DOES NOT NAME LENDER AS LOSS PAYEE.
(F)
BORROWER SHALL PAY THE PREMIUMS FOR THE
INSURANCE POLICIES AS THE SAME BECOME DUE AND PAYABLE.
BORROWER SHALL DELIVER
TO LENDER CERTIFIED COPIES OF THE INSURANCE POLICIES REQUIRED TO BE MAINTAINED
PURSUANT TO THIS AGREEMENT WITHIN SIXTY (60) DAYS AFTER THE CLOSING DATE, OR TEN
(10) DAYS AFTER THE ISSUANCE OF THE POLICIES BY THE INSURER, WHICHEVER IS LATER,
BUT IN ALL EVENTS, NO LATER THAN NINETY (90) DAYS AFTER THE CLOSING DATE, AND
FAILURE TO DO SO WILL BE AN IMMEDIATE EVENT OF DEFAULT.
NOTWITHSTANDING THE
FOREGOING, LENDER SHALL NOT BE DEEMED BY REASON OF THE CUSTODY OF SUCH INSURANCE
POLICIES TO HAVE KNOWLEDGE OF THE CONTENTS THEREOF.
BORROWER ALSO SHALL DELIVER
TO LENDER, WITHIN TEN (10) DAYS OF LENDER'S REQUEST, A CERTIFICATE OF BORROWER
OR BORROWER'S INSURANCE AGENT SETTING FORTH THE PARTICULARS AS TO ALL SUCH