Common use of Insurance; Property Clause in Contracts

Insurance; Property. Each Borrower shall maintain, without expense to Lenders, a policy or policies of insurance with respect to the collateral, in an amount which is at least equal to the fair market value thereof, naming the Lender as an insured party as its interest may appear and said policy shall contain a provision requiring that the insurer provide at least thirty (30) days notice to the Lender prior to cancellation of said insurance. The Borrower shall deliver a certificate of such insurance to the Lender.