Common use of Insurance; Restoration Clause in Contracts

Insurance; Restoration. (a) Borrower shall keep the Improvements and the Equipment insured against damage by fire and the other hazards covered by a comprehensive all risk coverage insurance policy in an amount equal to 100% of the full insurable value thereof (which shall mean the full repair and actual replacement value thereof providing for no deductible in excess of $25,000.00, without reduction for depreciation or co-insurance) as approved by Lender, and against loss of rents in an amount not less than 12 months' rental income from all Leases. Borrower shall also carry such other insurance, and in such amounts, as Lender may from time to time reasonably require, against insurable risks which at the time are commonly insured against in the case of premises similarly situated, due regard being given to the availability of insurance and to the type of construction, location, utilities, use and occupancy of the Premises or any replacements or substitutions therefor. Such additional insurance may include workers' compensation, boiler and machinery, flood, earthquake, demolition and contingent liability from the operation of "non-conforming" improvements on the Premises, and shall be obtained within 20 days after demand by Lender. Notwithstanding the foregoing, in the event Borrower obtains an umbrella or a blanket insurance policy or a separate policy or any other insurance policy affecting the Mortgaged Property hereunder, Borrower shall notify Lender of the same and shall cause certified copies of each insurance policy to be delivered as required under Section 2.04(c) below. Any umbrella or blanket insurance policy shall specifically allocate to the Mortgaged Property the amount of coverage from time to time required hereunder and shall otherwise provide the same protection as would a separate policy insuring only the Mortgage Property in compliance with the provisions of Section 2.04(c), giving Lender all of the rights set forth in this Section 2.04. The Proceeds of insurance paid on account of any damage to or destruction of the Premises or any portion thereof shall be paid over to Lender to be applied as hereinafter provided.

Insurance; Restoration. (a) Borrower The Mortgagor shall keep the Improvements buildings and improvements now or hereafter located within the Equipment Premises insured against damage by fire and the other hazards covered by a comprehensive all risk standard fire, broad form extended coverage and vandalism and malicious mischief insurance policy in an amount equal to 100% of for the full insurable value thereof (which which, unless the Mortgagee shall otherwise agree in writing, shall mean the full repair and actual replacement value thereof providing for no deductible in excess of $25,000.00, without reduction for depreciation or co-insurance) as approved by Lender). In addition, and against loss of rents in an amount not less than 12 months' rental income from all Leases. Borrower shall also the Mortgagee may require the Mortgagor to carry such other insurance, and in such amounts, amounts as Lender may from time to time be reasonably requirerequired by institutional lenders, against insurable risks which at the time are commonly insured against in the case of premises similarly situated, due regard being given to the availability of insurance site and to the type of building, construction, location, utilities, use utilities and occupancy of the Premises or any replacements or substitutions therefor. Such additional insurance may include workers' compensation, boiler and machineryincluding, floodwithout limitation, earthquakewar risk, nuclear explosion, demolition and contingent liability from the operation of "non-conformingnonconforming" improvements on the PremisesPremises and earthquake. The Mortgagor shall additionally keep the buildings and improvements now or hereafter located in or on the Premises insured against loss by flood if the Premises are located in an area identified by the Secretary of Housing and Urban Development as an area having special flood hazards and in which flood insurance has been made available under the National Flood Insurance Act of 1968 (and any successor act thereto) in an amount at least equal to the outstanding Indebtedness or the maximum limit of coverage available with respect to the buildings under said Act, and whichever is less, which policy or policies shall be obtained within 20 days after demand by Lender. Notwithstanding the foregoinghave endorsed thereon a long-form, non-contributory mortgagee clause in the event Borrower obtains an umbrella or a blanket insurance name of the Mortgagee, so and in such manner and form that the Mortgagee shall at all times have and hold the said policy or a separate policy or any other insurance policy affecting policies as collateral and further security for the Mortgaged Property hereunder, Borrower shall notify Lender payment of the same and shall cause certified copies of each insurance policy to be delivered as required under Section 2.04(c) below. Any umbrella or blanket insurance policy shall specifically allocate to Indebtedness until the Mortgaged Property the amount of coverage from time to time required hereunder and shall otherwise provide the same protection as would a separate policy insuring only the Mortgage Property in compliance with the provisions of Section 2.04(c), giving Lender all full payment of the rights set forth in this Section 2.04Indebtedness. The Proceeds proceeds of insurance paid on account of any damage to or destruction of to the Premises or any portion part thereof shall be paid over to Lender the Mortgagee to be applied as hereinafter provided.

Insurance; Restoration. (a) Borrower shall keep the Improvements and the Equipment insured against damage by fire and the other hazards covered by a comprehensive all risk coverage insurance policy in an amount equal to 100% of the full insurable value thereof (which shall mean the full repair and actual replacement value thereof providing for no deductible in excess of $25,000.00, without reduction for depreciation or co-insurance) as approved by Lender, and against loss of rents in an amount not less than 12 months' rental income from all Leases. Borrower shall also carry such other insurance, and in such amounts, as Lender may from time to time reasonably require, against insurable risks which at the time are commonly insured against in the case of premises similarly situated, due regard being given to the availability of insurance and to the type of construction, location, utilities, use and occupancy of the Premises or any replacements or substitutions therefor. Such additional insurance may include workers' compensation, boiler and machinery, flood, earthquake, demolition and contingent liability from the operation of "non-conforming" improvements on the Premises, and shall be obtained within 20 days after demand by Lender. Notwithstanding the foregoing, in the event Borrower obtains an umbrella or a blanket insurance policy or a separate policy or any other insurance policy affecting the Mortgaged Property hereunder, Borrower shall notify Lender of the same and shall cause certified copies of each insurance policy to be delivered as required under Section 2.04(c) below. Any umbrella or blanket insurance policy shall specifically allocate to the Mortgaged Property the amount of coverage from time to time required hereunder and shall otherwise provide the same protection as would a separate policy insuring only the Mortgage Property in compliance with the provisions of Section 2.04(c), giving Lender all of the rights set forth in this Section 2.04. The Proceeds of insurance paid on account of any damage to or destruction of the Premises or any portion thereof shall be paid over to Lender to be applied as hereinafter provided.destruction

Insurance; Restoration. (a) Borrower shall keep the Improvements and the Equipment insured against damage by fire and the fire, terrorism, other hazards covered by a and loss of business income. Borrower shall furnish Lender with such comprehensive special form cause of loss, all risk risk, fire, extended coverage property insurance policy in an amount equal to insuring 100% of the full insurable replacement value thereof with no coinsurance penalty (which shall mean the full repair and actual replacement value thereof providing for no deductible in excess of $25,000.0025,000 [$100,000 for flood and 5% of replacement value for earthquake], without reduction for depreciation depreciation), business income (including extra expense), rental value, rent loss or co-insurance) as approved by Lender, and against loss of rents business interruption insurance in an amount not less than 12 months' ’ rental income from all Leases, terrorism insurance (full limits for Certified Terrorism (foreign) and $100,000,000 sublimit for Domestic Acts), flood insurance, earthquake insurance, wind insurance and other insurance as Lender may from time to time require. Should the Premises be subject to pre-existing nonconforming zoning, land use or building laws, then Borrower shall also furnish Lender with an endorsement to the property insurance policy for a change in conditions, ordinance or law and contingent liability from the operation of “non-conforming” improvements, uses or conditions on the Premises with a sublimit of $2,500,000. Borrower shall also carry such other insurance, and in such amounts, as Lender may from time to time reasonably require, against insurable risks which at the time are commonly insured against in the case of premises similarly situated, due regard being given to the availability of insurance and to the type of construction, location, utilities, use and occupancy of the Premises or any replacements or substitutions therefor. Such additional insurance may include workers' ’ compensation, employer’s liability, boiler and machinery, flood, earthquake, machinery and demolition and contingent liability from the operation of "non-conforming" improvements on the Premisesinsurance, and shall be obtained within 20 days after demand by Lender. Borrower shall not obtain any umbrella or blanket liability or casualty policy or any separate or additional insurance which is contributing in the event of loss or any other insurance policy not required hereunder. Notwithstanding the foregoing, in the event Borrower obtains an umbrella or a blanket insurance policy or a separate policy or any other insurance policy affecting the Mortgaged Property hereunder, it shall include a “per location” aggregate endorsement and Borrower shall notify Lender of the same and shall cause certified copies of each insurance policy to be delivered as required under Section 2.04(c) below). Any umbrella or blanket insurance policy shall specifically allocate to the Mortgaged Property the amount of coverage from time to time required hereunder and shall otherwise provide the same protection as would a separate policy insuring only the Mortgage Mortgaged Property in compliance with the provisions of Section 2.04(c), giving Lender all of the rights set forth in this Section 2.04. The Proceeds of insurance paid on account of any damage to or destruction of the Premises or any portion thereof shall be paid over to Lender to be applied as hereinafter provided.