Common use of Insurance; Restoration Following Casualty Clause in Contracts

Insurance; Restoration Following Casualty. 2.5.1. Until the indebtedness secured hereby is paid in full, the Mortgagor shall at its own expense at all times maintain or cause to be maintained on all of the Mortgaged Premises (a) comprehensive general liability insurance, including umbrella liability insurance, covering all claims for bodily injury, including death, and property damage occurring on, in or about the Mortgaged Premises in an aggregate amount of not less than Five Million Dollars ($5,000,000) per occurrence, and a single limit of not less than Two Million Dollars ($2,000,000) per person and per occurrence for personal injury, bodily injury and property damage; the policy shall have no deductible or self insured retention requirements; the policy limits of such insurance, if requested by the Mortgagee, shall be increased from time to time to reflect what a reasonably prudent owner or lessee of buildings or improvements similar in type and locality to the Mortgaged Premises would carry; during any period of substantial alterations or improvements in, on or to the Mortgaged Premises, the Mortgagor will cause the comprehensive general liability insurance, including umbrella liability insurance, endorsed to provide owners' and contractors' protective liability coverage, including completed operations liability coverage; (b) physical damage insurance (all risk non-reporting property insurance, including earthquake insurance, with the Mortgagee named as loss payee), covering the Mortgaged Premises for loss or damages resulting from the perils of fire, lightning, earthquake, and such other risks and hazards as are provided under the current standard "Extended Coverage Endorsement" and vandalism and malicious mischief coverage, for the full replacement value of the Mortgaged Premises on a stipulated and agreed-amount basis; (c) if the Mortgaged Premises is in an area identified as a flood hazard area by the Secretary of Housing and Urban Development, flood insurance, to the extent obtainable, in an amount equal to the lesser of the full replacement value of the Mortgaged Premises or the maximum amount available FRK11497.A15 285741572 12/05/96 KDF:ac1

Insurance; Restoration Following Casualty. 2.5.1. Until the indebtedness secured hereby is paid in full, the Mortgagor Trustor shall at its own expense at all times maintain or cause to be maintained on all of the Mortgaged Premises (a) comprehensive general liability insurance, including umbrella liability insurance, covering all claims for bodily injury, including death, and property damage occurring on, in or about the Mortgaged Premises in an aggregate amount of not less than Five Million Dollars ($5,000,000) per occurrence, and a single limit of not less than Two Million Dollars ($2,000,000) per person and per occurrence for personal injury, bodily injury and property damage; the policy shall have no deductible or self insured retention requirements; the policy limits of such insurance, if requested by the MortgageeBeneficiary, shall be increased from time to time to reflect what a reasonably prudent owner or lessee of buildings or improvements similar in type and locality to the Mortgaged Premises would carry; during any period of substantial alterations or improvements in, on or to the Mortgaged Premises, the Mortgagor Trustor will cause the comprehensive general liability insurance, including umbrella liability insurance, endorsed to provide owners' and contractors' protective liability coverage, including completed operations liability coverage; (b) physical damage insurance (all risk non-reporting property insurance, including earthquake insurance, with the Mortgagee Beneficiary named as loss payee), covering the Mortgaged Premises for loss or damages resulting from the perils of fire, lightning, earthquake, and such other risks and hazards as are provided under the current standard "Extended Coverage Endorsement" and vandalism and malicious mischief coverage, for the full replacement value of the Mortgaged Premises on a stipulated and agreed-amount basis; (c) if the Mortgaged Premises is in an area identified as a flood hazard area by the Secretary of Housing and Urban Development, flood insurance, to the extent obtainable, in an amount equal to the lesser of the full replacement value of the Mortgaged Premises or the maximum amount available FRK11497.A15 under the Federal flood insurance program; (d) boiler and machinery insurance covering all boilers, machinery, air conditioning, pressure vessels, and similar type equipment commonly covered under a broad-form boiler and machinery policy, in an amount satisfactory to FRK11626.A05 285741572 12/05/96 01/09/97 KDF:ac1

Insurance; Restoration Following Casualty. 2.5.1. Until the indebtedness secured hereby is paid in full, the Mortgagor shall at its own expense at all times maintain or cause to be maintained on all of the Mortgaged Premises (a) comprehensive general liability insurance, including umbrella liability insurance, covering all claims for bodily injury, including death, and property damage occurring on, in or about the Mortgaged Premises in an aggregate amount of not less than Five Million Dollars ($5,000,000) per occurrence, and a single limit of not less than Two Million Dollars ($2,000,000) per person and per occurrence for personal injury, bodily injury FRK11625.A05 285741572 01/09/97 KDF: and property damage; the policy shall have no deductible or self insured retention requirements; the policy limits of such insurance, if requested by the Mortgagee, shall be increased from time to time to reflect what a reasonably prudent owner or lessee of buildings or improvements similar in type and locality to the Mortgaged Premises would carry; during any period of substantial alterations or improvements in, on or to the Mortgaged Premises, the Mortgagor will cause the comprehensive general liability insurance, including umbrella liability insurance, endorsed to provide owners' and contractors' protective liability coverage, including completed operations liability coverage; (b) physical damage insurance (all risk non-reporting property insurance, including earthquake insurance, with the Mortgagee named as loss payee), covering the Mortgaged Premises for loss or damages resulting from the perils of fire, lightning, earthquake, and such other risks and hazards as are provided under the current standard "Extended Coverage Endorsement" and vandalism and malicious mischief coverage, for the full replacement value of the Mortgaged Premises on a stipulated and agreed-amount basis; (c) if the Mortgaged Premises is in an area identified as a flood hazard area by the Secretary of Housing and Urban Development, flood insurance, to the extent obtainable, in an amount equal to the lesser of the full replacement value of the Mortgaged Premises or the maximum amount available FRK11497.A15 under the Federal flood insurance program; (d) boiler and machinery insurance covering all boilers, machinery, air conditioning, pressure vessels, and similar type equipment commonly covered under a broad-form boiler and machinery policy, in an amount satisfactory to the Mortgagee; (e) insurance against such other risks of damage, hazards, casualties and contingencies in such amounts as the Mortgagee shall from time to time reasonably require, provided that insurance against such other risks, hazards, casualties or contingencies shall then be commonly carried by prudent owners or lessees of building or improvements in the locality similar in character, construction, use and occupancy to the Improvements, Building Service Equipment and Furnishings on, or constituting a part of, the Mortgaged Premises; and (f) loss of rents/business interruption coverage in an amount sufficient to pay all Impositions, insurance premiums, interest and principal installments and all other amounts due under the Note and the Loan Agreement and the normal operating expenses of the Mortgaged Premises, all for a period of one (1) year. Furthermore, the Mortgagee reserves the right to require additional insurance and/or higher policy limits than heretofore specified if such additional insurance and/or higher policy limits are commercially reasonable for similar properties, which right FRK11625.A05 285741572 12/05/96 01/09/97 KDF:ac1

Insurance; Restoration Following Casualty. 2.5.1. Until the indebtedness secured hereby is Obligations are paid in full, the Mortgagor shall at its own expense at all times maintain or cause to be maintained on all of the Mortgaged Premises (a) comprehensive general liability insurance, including umbrella liability insurance, covering all claims for bodily injury, including death, and property damage occurring on, in or about the Mortgaged Premises in an aggregate amount of not less than Five Million Dollars ($5,000,000) per occurrence, and a 13,600,000 combined single limit of not less than Two Million Dollars ($2,000,000) per person and per occurrence for personal injury, bodily injury and property damage; the policy shall have no deductible or self insured retention requirements; the policy limits of such insurance, if requested by the Mortgagee, shall be increased from time to time to reflect what a reasonably prudent owner or lessee of buildings or improvements similar in type and locality to the Mortgaged Premises would carry; during any period of substantial alterations or improvements in, on or to the Mortgaged Premises, the Mortgagor will cause the comprehensive general liability insurance, including umbrella liability insurance, endorsed to provide owners' and contractors' protective liability coverage, including completed operations liability coverage; (b) physical damage insurance (all risk non-reporting property insurance, including earthquake insurance, with the Mortgagee named as loss payee), covering the Mortgaged Premises for loss or damages resulting from the perils of fire, lightning, earthquake, lightning and such other risks and hazards as are provided under the current standard "Extended Coverage Endorsement" and vandalism and malicious mischief coverage, for the full replacement value of the Mortgaged Premises on a stipulated and agreed-amount basis; (c) if the Mortgaged Premises is in an area identified as a flood hazard area by the Secretary of Housing and Urban Development, flood insurance, to the extent obtainable, in an amount equal to the lesser of the full replacement value of the Mortgaged Premises or the maximum amount available FRK11497.A15 285741572 12/05/96 KDF:ac1under the Federal flood insurance program; (d) boiler and machinery insurance covering all boilers, machinery, air conditioning, pressure vessels, and similar type equipment commonly covered under a broad-form boiler and machinery policy, in an amount satisfactory to the Mortgagee; (e) insurance against such other risks of damage, hazards, casualties and contingencies in such amounts as the Mortgagee shall from time to time reasonably require, provided that insurance against such other risks, hazards,

Insurance; Restoration Following Casualty. 2.5.1. Until the indebtedness secured hereby is paid in full, the Mortgagor Trustor shall at its own expense at all times maintain or cause to be maintained on all of the Mortgaged Premises (a) comprehensive general liability insurance, including umbrella liability insurance, covering all claims for bodily injury, including death, and property damage occurring on, in or about the Mortgaged Premises in an aggregate amount of not less than Five Million Dollars ($5,000,000) per occurrence, and a single limit of not less than Two Million Dollars ($2,000,000) per person and per occurrence for personal injury, bodily injury and property damage; the policy shall have no deductible or self insured retention requirements; the policy limits of such insurance, if requested by the MortgageeBeneficiary, shall be increased from time to time to reflect what a reasonably prudent owner or lessee of buildings or improvements similar in type and locality to the Mortgaged Premises would carry; during any FRK11623.A05 285741572 01/09/97 KDF: period of substantial alterations or improvements in, on or to the Mortgaged Premises, the Mortgagor Trustor will cause the comprehensive general liability insurance, including umbrella liability insurance, endorsed to provide owners' and contractors' protective liability coverage, including completed operations liability coverage; (b) physical damage insurance (all risk non-reporting property insurance, including earthquake insurance, with the Mortgagee Beneficiary named as loss payee), covering the Mortgaged Premises for loss or damages resulting from the perils of fire, lightning, earthquake, and such other risks and hazards as are provided under the current standard "Extended Coverage Endorsement" and vandalism and malicious mischief coverage, for the full replacement value of the Mortgaged Premises on a stipulated and agreed-amount basis; (c) if the Mortgaged Premises is in an area identified as a flood hazard area by the Secretary of Housing and Urban Development, flood insurance, to the extent obtainable, in an amount equal to the lesser of the full replacement value of the Mortgaged Premises or the maximum amount available FRK11497.A15 under the Federal flood insurance program; (d) boiler and machinery insurance covering all boilers, machinery, air conditioning, pressure vessels, and similar type equipment commonly covered under a broad-form boiler and machinery policy, in an amount satisfactory to the Beneficiary; (e) insurance against such other risks of damage, hazards, casualties and contingencies in such amounts as the Beneficiary shall from time to time reasonably require, provided that insurance against such other risks, hazards, casualties or contingencies shall then be commonly carried by prudent owners or lessees of building or improvements in the locality similar in character, construction, use and occupancy to the Improvements, Building Service Equipment and Furnishings on, or constituting a part of, the Mortgaged Premises; and (f) loss of rents/business interruption coverage in an amount sufficient to pay all Impositions, insurance premiums, interest and principal installments and all other amounts due under the Note and the Loan Agreement and the normal operating expenses of the Mortgaged Premises, all for a period of one (1) year. Furthermore, the Beneficiary reserves the right to require additional insurance and/or higher policy limits than heretofore specified if such additional insurance and/or higher policy limits are commercially reasonable for similar properties, which right may be exercised by written notice to the Trustor, and, as soon thereafter as practicable, but in any event within thirty (30) days of the receipt thereof, the Trustor agrees to obtain insurance coverage complying with such notice. The proceeds of all such insurance (except the insurance specified in SECTION 2.5.1(a)) shall be paid solely to the FRK11623.A05 285741572 12/05/96 01/09/97 KDF:ac1: Beneficiary and be held, applied or disbursed by the Beneficiary as provided in SECTIONS 2.5.7 and 2.5.8.

Insurance; Restoration Following Casualty. 2.5.1. Until the indebtedness secured hereby is paid in full, the Mortgagor shall at its own expense at all times maintain or cause to be maintained on all of the Mortgaged Premises (a) comprehensive general liability insurance, including umbrella liability insurance, covering all claims for bodily injury, including death, and property damage occurring on, in or about the Mortgaged Premises in an aggregate amount of not less than Five Million Dollars ($5,000,000) per occurrence, and a single limit of not less than Two Million Dollars ($2,000,000) per person and per occurrence for personal injury, bodily injury and property damage; the policy shall have no deductible or self insured retention requirements; the policy limits of FRK11624.A05 285741572 01/09/97 KDF: such insurance, if requested by the Mortgagee, shall be increased from time to time to reflect what a reasonably prudent owner or lessee of buildings or improvements similar in type and locality to the Mortgaged Premises would carry; during any period of substantial alterations or improvements in, on or to the Mortgaged Premises, the Mortgagor will cause the comprehensive general liability insurance, including umbrella liability insurance, endorsed to provide owners' and contractors' protective liability coverage, including completed operations liability coverage; (b) physical damage insurance (all risk non-reporting property insurance, including earthquake insurance, with the Mortgagee named as loss payee), covering the Mortgaged Premises for loss or damages resulting from the perils of fire, lightning, earthquake, and such other risks and hazards as are provided under the current standard "Extended Coverage Endorsement" and vandalism and malicious mischief coverage, for the full replacement value of the Mortgaged Premises on a stipulated and agreed-amount basis; (c) if the Mortgaged Premises is in an area identified as a flood hazard area by the Secretary of Housing and Urban Development, flood insurance, to the extent obtainable, in an amount equal to the lesser of the full replacement value of the Mortgaged Premises or the maximum amount available FRK11497.A15 under the Federal flood insurance program; (d) boiler and machinery insurance covering all boilers, machinery, air conditioning, pressure vessels, and similar type equipment commonly covered under a broad-form boiler and machinery policy, in an amount satisfactory to the Mortgagee; (e) insurance against such other risks of damage, hazards, casualties and contingencies in such amounts as the Mortgagee shall from time to time reasonably require, provided that insurance against such other risks, hazards, casualties or contingencies shall then be commonly carried by prudent owners or lessees of building or improvements in the locality similar in character, construction, use and occupancy to the Improvements, Building Service Equipment and Furnishings on, or constituting a part of, the Mortgaged Premises; and (f) loss of rents/business interruption coverage in an amount sufficient to pay all Impositions, insurance premiums, interest and principal installments and all other amounts due under the Note and the Loan Agreement and the normal operating expenses of the Mortgaged Premises, all for a period of one (1) year. Furthermore, the Mortgagee reserves the right to require additional insurance and/or higher policy limits than heretofore specified if such additional insurance and/or higher policy limits are commercially reasonable for similar properties, which right may be exercised by written notice to the Mortgagor, and, as soon thereafter as practicable, but in any event within FRK11624.A05 285741572 12/05/96 01/09/97 KDF:ac1

Insurance; Restoration Following Casualty. 2.5.1. Until the indebtedness secured hereby is paid in full, the Mortgagor Trustor shall at its own expense at all times maintain or cause to be maintained on all of the Mortgaged Premises (a) comprehensive general liability insurance, including umbrella liability insurance, covering all claims for bodily injury, including death, and property damage occurring on, in or about the Mortgaged Premises in an aggregate amount of not less than Five Million Dollars ($5,000,000) per occurrence, and a single limit of not less than Two Million Dollars ($2,000,000) per person and per occurrence for personal injury, bodily injury and property damage; the policy shall have no deductible or self insured retention requirements; the policy limits of such insurance, if requested by the MortgageeBeneficiary, shall be increased from time to time to reflect what a reasonably prudent owner or lessee of buildings or improvements similar in type and locality to the Mortgaged Premises would carry; during any period of substantial alterations or improvements in, on or to the Mortgaged Premises, the Mortgagor Trustor will cause the comprehensive general liability insurance, including umbrella liability insurance, endorsed to provide owners' and contractors' protective liability coverage, including completed operations liability coverage; (b) physical damage insurance (all risk non-reporting property insurance, including earthquake insurance, with the Mortgagee Beneficiary named as loss payee), covering the Mortgaged Premises for loss or damages resulting from the perils of fire, lightning, earthquake, and such other risks and hazards as are provided under the current standard "Extended Coverage Endorsement" and vandalism and malicious mischief coverage, for the full replacement value of the Mortgaged Premises on a stipulated and agreed-amount basis; (c) if the Mortgaged Premises is in an area identified as a flood hazard area by the Secretary of Housing and Urban Development, flood insurance, to the extent obtainable, in an amount equal to the lesser of the full replacement value of the Mortgaged Premises or the maximum amount available FRK11497.A15 under the Federal flood insurance program; (d) boiler and machinery insurance covering all boilers, machinery, air conditioning, pressure vessels, and similar type equipment commonly covered under a broad-form boiler and machinery policy, in an amount satisfactory to the Beneficiary; (e) insurance against such other risks of damage, hazards, casualties and contingencies in such amounts as the Beneficiary shall from time to time reasonably require, provided that insurance against such FRK11622.A05 285741572 12/05/96 01/09/97 KDF:ac1