THAN 30 DAYS AND TO BE INCREASED OR
DECREASED, AS APPLICABLE, FROM TIME TO TIME DURING THE TERM OF THE LOAN IF, AND
WHEN, NET OPERATING INCOME MATERIALLY INCREASES OR DECREASES, AS APPLICABLE
(INCLUDING, WITHOUT LIMITATION, INCREASES FROM NEW LEASES AND RENEWAL LEASES
ENTERED INTO IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT), TO REFLECT ALL
INCREASED RENT AND INCREASED ADDITIONAL RENT PAYABLE BY ALL OF THE LESSEES UNDER
SUCH RENEWAL LEASES AND ALL RENT AND ADDITIONAL RENT PAYABLE BY ALL OF THE
LESSEES UNDER SUCH NEW LEASES;
(D)
ALL RISK PHYSICAL LOSS AND DAMAGE COVERAGE WITH RESPECT TO HEATING
AND AIR CONDITIONING EQUIPMENT, LOCATED IN, ON, OR ABOUT THE IMPROVEMENTS,
EXCEPT THE COVERAGE REQUIRED UNDER THIS CLAUSE (II)(D) SHALL NOT BE REQUIRED TO
BE MAINTAINED AS A SEPARATE POLICY AND MAY BE INCLUDED AS PART OF THE COVERAGES
PROVIDED UNDER CLAUSE (I);
(E)
WORKER'S COMPENSATION INSURANCE COVERAGE (IN AMOUNTS NOT LESS THAN
THE STATUTORY MINIMUMS FOR ALL PERSONS EMPLOYED BY BORROWER AT THE MORTGAGED
PROPERTY AND IN COMPLIANCE WITH ALL OTHER REQUIREMENTS OF APPLICABLE LOCAL,
STATE AND FEDERAL LAW) AND "EMPLOYERS LIABILITY" INSURANCE IN AMOUNTS NOT LESS
THAN REQUIRED BY STATUTE;
(F)
DURING ANY PERIOD OF REPAIR OR RESTORATION, BUILDER'S "ALL RISK"
INSURANCE IN AN AMOUNT EQUAL TO NOT LESS THAN THE FULL INSURABLE VALUE OF THE
MORTGAGED PROPERTY AGAINST SUCH RISKS (INCLUDING, WITHOUT LIMITATION, FIRE AND
EXTENDED COVERAGE AND COLLAPSE OF THE IMPROVEMENTS TO AGREED LIMITS) AS LENDER
MAY REQUEST, IN FORM AND SUBSTANCE ACCEPTABLE TO LENDER;
95
(G)
INTENTIONALLY OMITTED;
(H)
IF REQUIRED BY LENDER AS A RESULT OF ANY MORTGAGED PROPERTY BEING
LOCATED IN AN AREA WITH A HIGH DEGREE OF SEISMIC ACTIVITY, EARTHQUAKE DAMAGE
INSURANCE IN AN AMOUNT AND FORM ACCEPTABLE TO LENDER; AND
(I)
SUCH OTHER INSURANCE AS MAY FROM TIME TO TIME BE REASONABLY
REQUIRED BY LENDER IN ORDER TO PROTECT ITS INTERESTS WITH RESPECT TO THE LOAN
AND THE MORTGAGED PROPERTY AND TO CONFORM SUCH REQUIREMENTS TO THEN CURRENT
STANDARDS FOR A SECONDARY MARKET TRANSACTION.
(III)
ALL POLICIES OF INSURANCE (THE "POLICIES") REQUIRED PURSUANT TO
THIS SECTION 5.1(X):
(A)
SHALL BE ISSUED BY AN INSURER APPROVED BY LENDER WHICH HAS A CLAIMS
PAYING ABILITY RATING OF NOT LESS THAN "A+" (OR THE EQUIVALENT) BY RATING
AGENCIES SATISFACTORY TO LENDER (ONE OF WHICH SHALL BE S&P) AND A:X OR BETTER AS
TO CLAIMS PAYING ABILITY BY AM BEST, PROVIDED, THAT NOTWITHSTANDING THE
FOREGOING, (1) IN THE EVENT AMERICAN MODERN INSURANCE SHALL BE THE INSURER
PROVIDING THE STANDARD ALL-RISK INSURANCE POLICY, THEN SUCH INSURER SHALL NOT BE
REQUIRED TO SATISFY SUCH CLAIMS PAYING ABILITY RATING BY THE RATING AGENCIES, SO
LONG AS SUCH INSURER MAINTAINS A CLAIMS PAYING ABILITY RATING BY AM BEST OF
A:VIII OR BETTER AND (2) THE INSURER PROVIDING THE WORKER'S COMPENSATION
INSURANCE COVERAGE SHALL ONLY BE REQUIRED TO MAINTAIN A CLAIMS PAYING ABILITY
RATING OF NOT LESS THAN "A" (OR THE EQUIVALENT) BY RATING AGENCIES SATISFACTORY
TO THE LENDER (ONE OF WHICH SHALL BE S&P). NOTWITHSTANDING THE FOREGOING, IF