Common use of REQUIRED INSURANCE AND TERMS OF INSURANCE POLICIES Clause in Contracts

REQUIRED INSURANCE AND TERMS OF INSURANCE POLICIES. (a) During the term of this Mortgage, Borrower at its sole cost and expense must provide insurance policies and certificates of insurance satisfactory to Lender as to amounts, types of coverage and the companies underwriting these coverages. In no event shall such policies be terminated or otherwise allowed to lapse. Borrower shall be responsible for its own deductibles. Borrower shall also pay for any insurance, or any increase of policy limits, not described in this Mortgage which Borrower requires for its own protection or for compliance with government statutes. Borrower’s insurance shall be primary and without contribution from any insurance procured by Lender. Insurance coverage may be provided pursuant to a blanket policy or policies maintained by Florida East Coast Industries, Inc. (“FECI”), covering FECI and all of its subsidiaries, including Flagler Development Company, as Borrower. Policies of insurance shall be delivered to Lender in accordance with the following requirements unless otherwise Approved in writing by the Lender:

REQUIRED INSURANCE AND TERMS OF INSURANCE POLICIES. (a) During the term of this Mortgage, Borrower at its sole cost and expense must provide insurance policies and certificates of insurance satisfactory to Lender as to amounts, types of coverage and the companies underwriting these coverages. In no event shall such policies be terminated or otherwise allowed to lapse. Borrower shall be responsible for its own deductibles. Borrower shall also pay for any insurance, or any increase of policy limits, not described in this Mortgage which Borrower requires for its own protection or for compliance with government statutes. Borrower’s 's insurance shall be primary and without contribution from any insurance procured by Lender. Insurance coverage may be provided pursuant to a blanket policy or policies maintained by Florida East Coast Industries, Inc. (“"FECI”"), covering FECI and all of its subsidiaries, including Flagler Development Company, as Borrower. Policies of insurance shall be delivered to Lender in accordance with the following requirements unless otherwise Approved in writing by the Lender:

REQUIRED INSURANCE AND TERMS OF INSURANCE POLICIES. (a) During the term of this Mortgage, Borrower at its sole cost and expense must provide insurance policies and certificates of insurance satisfactory to Lender as to amounts, types of coverage and the companies underwriting these coverages. In no event shall such policies be terminated or otherwise allowed to lapse. Borrower shall be responsible for its own deductibles. Borrower shall also pay for any insurance, or any increase of policy limits, not described in this Mortgage which Borrower requires for its own protection or for compliance with government statutes. Borrower’s insurance shall be primary and without contribution from any insurance procured by Lender. Insurance coverage may be provided pursuant to a blanket policy or policies maintained by Florida East Coast Industries, Inc. (“FECI”), covering FECI and all of its subsidiaries, including Flagler Development CompanyGran Central-Deerwood North, LLC, as Borrower. Policies of insurance shall be delivered to Lender in accordance with the following requirements unless otherwise Approved in writing by the Lender:

REQUIRED INSURANCE AND TERMS OF INSURANCE POLICIES. (a) During the term of this Mortgage, Borrower at its sole cost and expense must provide insurance policies and certificates of insurance satisfactory to Lender as to amounts, types of coverage and the companies underwriting these coverages. In no event shall such policies be terminated or otherwise allowed to lapse. Borrower shall be responsible for its own deductibles. Borrower shall also pay for any insurance, or any increase of policy limits, not described in this Mortgage which Borrower requires for its own protection or for compliance with government statutes. Borrower’s insurance shall be primary and without contribution from any insurance procured by Lender. Insurance coverage may be provided pursuant to a blanket policy or policies maintained by Florida East Coast Industries, Inc. (“FECI”), covering FECI and all of its subsidiaries, including Flagler Development CompanyBeacon Station 22, 23 and 24 Limited Partnership, as Borrower. Policies of insurance shall be delivered to Lender in accordance with the following requirements unless otherwise Approved in writing by the Lender: