Maintain and Insure Property. The Borrower agrees at all times to maintain the property provided as security for this Loan in such condition and repair that the Lender’s security will be adequately protected. The Borrower also agrees to maintain during the term of the Loan adequate hazard insurance policies covering fire and extended coverage and such other hazards as may be deemed ap- propriate in amounts and form sufficient to prevent the Borrower from becoming a co-insurer and issued by companies satisfactory to the Lender with acceptable loss payee clauses in favor of the Lender. The Borrower further agrees, if at any time during the life of the Loan the Borrower’s property is declared to be within a flood hazard area, to purchase Federal Flood Insurance, if available. Such insurance will be in an amount equal to the amount of the loan. If the property is not located in a flood hazard area at the time of the loan closing, the Borrower will provide satisfactory evidence thereof.
Maintain and Insure Property. Each Borrower agrees at all times to maintain its business properties in such condition and repair that the Bank's security will be adequately protected. Each Borrower shall also keep its business properties fully insured with:
Maintain and Insure Property. The Borrower agrees at all times to maintain the property provided as security for this Loan in such condition and repair that the Lender’s security will be adequately protected. The Borrower also agrees to maintain during the term of the Loan adequate hazard insurance policies covering fire and extended coverage and such other hazards as may be deemed appropriate in amounts and form sufficient to prevent the Borrower from becoming a co-insurer and issued by companies satisfactory to the Lender with acceptable loss payee clauses in favor of the Lender.
Maintain and Insure Property. Borrower shall maintain during the term of this Agreement the real and personal property provided as security for this Loan in good (taking into account the condition of such assets on the Closing Date) condition, maintenance and repair, wear and tear from normal use of Borrower’s business excepted, and that the business carried on in connection therewith shall be in continuous operation in material compliance with all applicable laws. During the term of this Agreement, Borrower shall maintain hazard insurance policies covering fire and extended coverage, liability insurance, workers’ compensation insurance, and such other insurance reasonably required by the City and its attorneys of at least $1,000,000 to insure the City against injury and damage as a result of the activities performed under this Agreement. The aforementioned insurance shall be issued by companies satisfactory to the City with acceptable loss-payee clauses in favor of the City. A copy of the insurance policy or policies required hereunder must be provided to the City. Upon execution of this Agreement, Borrower shall provide to City a certificate or certificates of insurance, such other portions of the policy or policies as the City deems necessary, and the endorsement naming the City as an additional insured. The certificate or certificates shall, as to form, coverage and carrier, be satisfactory to the Director of Law. The policy or policies required hereunder shall provide as follows: “The insurer agrees to send written notice by certified mail to the Director of Law of the City of Cleveland at least 30 days prior to cancellation or reduction of, or any change in, the coverage specified by this policy.” All coverage specified above all shall be maintained for the duration of this Agreement, including any renewals thereof, and shall name the City as an additional insured.
Maintain and Insure Property. The Borrower and Guarantors agree at all times to maintain the property provided as Security for this Loan in a condition equal to the condition of said property at the time this Agreement is executed, normal wear and tear excepted, and in any event in such condition and repair that the Lender's security will be adequately protected. The Borrower also agrees to maintain, during the term of the Loan, adequate hazard insurance policies covering fire and extended coverage and such other hazards as may be deemed appropriate in amounts at least equal to the unpaid balance of the Notes, and issued by companies satisfactory to the Lender with acceptable loss payee clauses in favor of the Lender. The policy of insurance shall include a proof of insurance provision requiring not less than 30 days written notice to Lender prior to cancellation. The Borrower further agrees to maintain workers' compensation insurance in amounts required by law. Borrower shall maintain public liability for bodily injury and property damage insurance with limits of not less than $100,000 for injury to one person and $100,000 for injury to two or more persons in one occurrence, and $100,000 for damage to property. Borrower shall deliver to Lender certificates of insurance showing insurance coverages from companies authorized to issue insurance policies in the State of Idaho.
Maintain and Insure Property. XXXXXXXX agrees at all times to maintain the property provided as security for this loan and in such condition and repair that XXXXXX's security will be adequately protected. XXXXXXXX also agrees to maintain during the term of the loan adequate hazard insurance policies covering fire and extended coverage and such other hazards as may be deemed appropriate in amounts and form sufficient to prevent LENDER from becoming a co-insurer and was issued by companies satisfactory to LENDER with acceptable loss payee clauses in favor of LENDER.
Maintain and Insure Property. The Borrowers agree at all times to maintain the property provided as security for this Loan in such condition and repair that Lender's security will be adequately protected. The Borrowers also agree to maintain during the term of the Loan adequate hazard insurance policies covering fire and such other hazards, including but not limited to windstorm, lightning, hail, business interruption, explosion, riot, civil commotion, aircraft, vehicle, marine, smoke, builder's risk, public liability, property damage, flood or mudslide, or any other hazard insurance that may be required to protect the security, in an amount that is at least the lesser of the depreciated replacement value of the insured property, the amount of the Loan or sufficient to prevent the Borrowers from becoming co-insurers and issued by companies satisfactory to Lender with acceptable loss payee clauses in favor of Lender under a standard or New York Mortgage Interest Clause which shall provide a minimum of thirty (30) days' written notice to Lender prior to cancellation. Borrowers agree Lender may advance and pay any unpaid premiums necessary to maintain adequate hazard insurance coverage upon the secured property and that any sums so paid shall, at the sole discretion of Lender, be immediately due and payable or be added to the principal indebtedness of the Note and bear interest at the Rate provided for therein.
Maintain and Insure Property. Maintain, preserve and keep its Property and assets in good repair, working order, condition and standing consistent with industry practice, making all needed replacements, additions and improvements thereto, to the extent allowed by this Agreement; and maintain adequate insurance policies on the Property as Borrower reasonably deems appropriate.
Maintain and Insure Property. BORROWER agrees at all times to maintain the property provided as security for this loan and in such condition and repair that LENDER's security will be adequately protected. BORROWER also agrees to maintain during the term of the loan adequate hazard insurance policies covering fire and extended coverage and such other hazards as may be deemed appropriate in amounts and form sufficient to prevent LENDER from becoming a co-insurer and was issued by companies satisfactory to LENDER with acceptable loss payee clauses in favor of LENDER.
Maintain and Insure Property. The Borrower agrees at all times to maintain the property provided as security for this Loan in such condition and repair that the Lender's security will be adequately protected. The Borrower also agrees to maintain during the term of the Loan adequate hazard insurance policies covering fire and extended coverage.-and such other hazards as may be deemed appropriate in amounts and form sufficient to prevent the Borrower from becoming a co-insurer and issued by companies satisfactory to the Lender with acceptable loss payee clauses in favor of the Lender. The Borrower further agrees, if at any time during the life of the Loan the Borrower 's property is declared to be within a flood hazard area, to purchase Federal Flood Insurance if available. Such insurance shall be in an amount equal to the lesser of: I) the amount of the loan; ii) the insurable value of the property; or iii) the maximum limit of coverage available. If the property is not located in a flood hazard area at the time of the Loan closing, the Borrower will provide satisfactory evidence thereof. The Borrower further agrees to maintain adequate liability and workman's compensation insurance in amounts and form satisfactoxx xx xxx Lender.
