UNREASONABLY WITHHELD. LENDER SHALL BE NAMED
MORTGAGEE AND LOSS PAYEE ON A STANDARD MORTGAGEE ENDORSEMENT.
(B)
FLOOD INSURANCE IF ANY PART OF THE PROPERTY IS LOCATED IN AN AREA NOW OR
HEREAFTER DESIGNATED BY THE FEDERAL EMERGENCY MANAGEMENT AGENCY AS A ZONE "A" &
"V" SPECIAL HAZARD AREA, OR SUCH OTHER SPECIAL HAZARD AREA IF LENDER SO REQUIRES
IN ITS SOLE DISCRETION. SUCH POLICY SHALL (I) BE IN AN AMOUNT EQUAL TO (A) ONE
HUNDRED PERCENT (100%) OF THE FULL REPLACEMENT COST OF THE IMPROVEMENTS ON THE
PROPERTY (WITHOUT ANY DEDUCTION FOR DEPRECIATION) OR (B) SUCH OTHER AMOUNT AS IS
AGREED TO BY LENDER IN WRITING, AND (II) HAVE A MAXIMUM PERMISSIBLE DEDUCTIBLE
OF $3,000.
(C)
PUBLIC LIABILITY INSURANCE, INCLUDING (I) "COMMERCIAL GENERAL LIABILITY
INSURANCE", (II) "OWNED", "HIRED" AND "NON OWNED AUTO LIABILITY"; AND
(III) UMBRELLA LIABILITY COVERAGE FOR PERSONAL INJURY, BODILY INJURY, DEATH,
ACCIDENT AND PROPERTY DAMAGE, SUCH INSURANCE PROVIDING IN COMBINATION NO LESS
THAN CONTAINING MINIMUM LIMITS PER OCCURRENCE OF $1,000,000 AND $2,000,000 IN
THE AGGREGATE FOR ANY POLICY YEAR WITH NO DEDUCTIBLE OR SELF INSURED RETENTION;
TOGETHER WITH AT LEAST $25,000,000 EXCESS AND/OR UMBRELLA LIABILITY INSURANCE
FOR ANY AND ALL CLAIMS WITH NO DEDUCTIBLE. THE POLICIES DESCRIBED IN THIS
SUBSECTION SHALL ALSO INCLUDE COVERAGE FOR ELEVATORS, ESCALATORS, INDEPENDENT
CONTRACTORS, "CONTRACTUAL LIABILITY" (COVERING, TO THE MAXIMUM EXTENT PERMITTED
BY LAW, BORROWER'S OBLIGATION TO INDEMNIFY LENDER AS REQUIRED UNDER THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS), "PRODUCTS" AND "COMPLETED OPERATIONS
LIABILITY" COVERAGE.
(D)
RENTAL LOSS AND/OR BUSINESS INTERRUPTION INSURANCE (I) WITH LENDER BEING
NAMED AS "LENDER LOSS PAYEE", (II) IN AN AMOUNT EQUAL TO 100% OF THE PROJECTED
RENTS FROM THE PROPERTY DURING THE PERIOD OF RESTORATION; AND (III) CONTAINING
AN EXTENDED PERIOD OF INDEMNITY ENDORSEMENT WHICH PROVIDES THAT AFTER THE
PHYSICAL LOSS TO THE PROPERTY HAS BEEN REPAIRED, THE CONTINUED LOSS OF INCOME
WILL BE INSURED UNTIL SUCH INCOME EITHER RETURNS TO THE SAME LEVEL IT WAS AT
PRIOR TO THE LOSS, OR THE EXPIRATION OF EIGHTEEN (18) MONTHS FROM THE DATE THAT
THE PROPERTY IS REPAIRED OR REPLACED AND OPERATIONS ARE RESUMED, WHICHEVER FIRST
OCCURS, AND NOTWITHSTANDING THAT THE POLICY MAY EXPIRE PRIOR TO THE END OF SUCH
PERIOD. THE AMOUNT OF SUCH INSURANCE SHALL BE INCREASED FROM TIME TO TIME DURING
THE TERM AS AND WHEN THE ESTIMATED OR ACTUAL RENTS INCREASE.
60
(E)
COMPREHENSIVE BOILER AND MACHINERY INSURANCE COVERING ALL MECHANICAL AND
ELECTRICAL EQUIPMENT AGAINST PHYSICAL DAMAGE, RENT LOSS AND IMPROVEMENTS LOSS
AND COVERING, WITHOUT LIMITATION, ALL TENANT IMPROVEMENTS AND BETTERMENTS THAT
BORROWER IS REQUIRED TO INSURE PURSUANT TO THE LEASES ON A REPLACEMENT COST
BASIS AND IN AN AMOUNT EQUAL TO THE GREATER OF (I) $2,000,000 AND (II) ONE
HUNDRED PERCENT (100%) OF THE FULL REPLACEMENT COST OF THE IMPROVEMENTS ON THE
PROPERTY (WITHOUT ANY DEDUCTION FOR DEPRECIATION).
(F)
WORKER'S COMPENSATION AND DISABILITY INSURANCE WITH RESPECT TO ANY
EMPLOYEES OF BORROWER, AS REQUIRED BY ANY LEGAL REQUIREMENT.
(G)
DURING ANY PERIOD OF REPAIR OR RESTORATION, BUILDER'S "ALL-RISK" INSURANCE
ON THE SO CALLED COMPLETED