Common use of Terrorism Insurance Clause in Contracts

Terrorism Insurance. None of the Mortgage Loan documents contain any provision that expressly excuses the related borrower from obtaining and maintaining insurance coverage for acts of terrorism or, in circumstances where terrorism insurance is not expressly required, the mortgagee is not prohibited from requesting that the related borrower maintain such insurance, in each case, to the extent such insurance coverage is generally available for like properties in such jurisdictions at commercially reasonable rates. Each Mortgaged Property is insured by a “standard extended coverage” casualty insurance policy that does not contain an express exclusion for (or, alternatively, is covered by a separate policy that insures against property damage resulting from) acts of terrorism.

Terrorism Insurance. None of the Mortgage Loan mortgage loan documents contain any provision that expressly excuses the related mortgage borrower from obtaining and maintaining insurance coverage for acts of terrorism or, in circumstances where terrorism insurance is not expressly required, the mortgagee mortgage lender is not prohibited from requesting that the related mortgage borrower maintain such insurance, in each case, to the extent such insurance coverage is generally available for like properties in such jurisdictions at commercially reasonable rates. Each Mortgaged Property property securing a related mortgage loan is insured by a an “standard extended coverageall risk” casualty or “special form” property insurance policy that does not contain an express exclusion for (or, alternatively, is covered by a separate policy that insures against property damage resulting from) acts of terrorism.

Terrorism Insurance. None of the Mortgage Loan related mortgage loan documents contain any provision that expressly excuses the related mortgage borrower from obtaining and maintaining insurance coverage for acts of terrorism or, in circumstances where terrorism insurance is not expressly required, the mortgagee mortgage lender is not prohibited from requesting that the related mezzanine borrower maintain such insurance, in each case, to the extent such insurance coverage is generally available for like properties in such jurisdictions at commercially reasonable rates. Each Mortgaged Property property securing a related mortgage loan is insured by a “standard extended coverageall risk” casualty or “special form” property insurance policy that does not contain an express exclusion for (or, alternatively, is covered by a separate policy that insures against property damage resulting from) acts of terrorism.